VIRGINIA. 



847 



* Decrease. 



Finances. There were several important de- 

 velopments in the State debt controversy during 

 the year. Early in January the Governor re- 

 ceived a letter from the council of foreign bond- 

 holders, expressing their desire to put an end to 

 the protracted contest with the State, and inti- 

 mating that a compromise might be possible, 

 especially as the State had been growing in 

 wealth. It was suggested that duly accredited 

 representatives of the State be selected to treat 

 with the council, either at London or at Rich- 

 mond. This letter was submitted by the Gov- 



ernor to the General Assembly, with the norm. 

 mendation that commission,' w be 

 But he declared his belief that 

 able to offer the bondholders a more liljeral 

 tlement than that of the KiddleU-rger act. Z 

 though some variations from its terms, not less 

 favorable to the State, might be advisable The 

 General Assembly, pursuant to the , 

 dation, promptly passed a resolution designating 

 the Governor and two members of 

 as commissioners to receive proposals for fund- 

 ing the whole debt ; but it was required that 

 every proposal should be accompanied bv a caah 

 deposit of $1,000,000 asjv guarantee of its fulfill- 

 ment, and the commissioners were expressly for- 

 bidden to entertain anv proposal that dej 

 from the terms of the kiddleberger act of 

 14, 1882, unless the changes should be in faror 

 of the State. This resolution showed no dispo- 

 sition on the part of the State to concede any- 

 thing, and was therefore devoid of results. 



The Assembly also passed a new series of acts 

 designed, like the "coupon crusher" and other 

 previous acts, to keep debt coupons out of the 

 State treasury by indirect means, the State being 

 unable, legally to refuse such coupons when teml- 

 ered for State dues. Of these acts, the following 

 were intended to delay and obstruct the legal 

 proceedings by which the genuineness of coupons 

 tendered must be established before they are re- 

 ceived : 1. An act allowing the Attorney for the 

 State in coupon cases to demand a separate trial 

 by jury for each case. 2. An act requiring all 

 coupon cases pending in the county, corpora- 

 tion, or husting courts to be removed to the cir- 

 cuit courts, the expense of removal to be borne 

 by both parties equally. 3. An act allowing the 

 board of commissioners to employ additional 

 counsel to assist the State attorneys in coupon 

 cases. The other acts of the series were designed 

 to discourage persons from offering their cou- 

 pons. The first of these requires applicants for 

 liquor licenses, at the time of their application, 

 to deposit with the treasurer of the city or county 

 the amount of the license fee either in money or 

 coupons, and the treasurer shall indorse upon 

 the application a certificate showing what kind 

 of deposit has been made. The application shall 

 then be referred to the proper local court as here- 

 tofore provided by law, except that in cities it 

 shall be first referred to the local board of ex- 

 cise. These boards of excise, as provided in 

 another act, shall be appointed for each city by 

 a State excise commission consisting of the .Au- 

 ditor, Second Auditor, and Treasurer. They 

 shall examine all applications for licenses re- 

 ferred to them, and may approve or disapprove 

 them in their discretion. If the board approves, 

 the application shall then go before the local 

 court, as already provided by law. No applica- 

 tion not so approved by the local excise boards 

 shall be considered by the court. It is expected 

 (though not intimated in the act) that the State 

 board will appoint as members of the city boards 

 of excise only such persons as will disapprove 

 every application on which a certificate is made 

 showing that the applicant has offered coupons 

 in payment of his license. The excise boards are 

 created only in cities, from which nearly all the 

 offerings of coupons come. Another act requires 

 that all licenses, the annual fee for which would 



