70 



VIRGINIA. 



S. There shall be paid when demanded, after the 

 passage of this act, and on the Brat day of July, 1878, 

 two per centum in!i n--t upon the principal of the 

 public debt, bearing an interest of nix per centum 

 per annum, aa evidenced by bonds iaaued under 

 the provisions of the act approved March 80. 1871; 

 and upon that part of the public debt hearing an 

 interest of five percent, there shall be paid at the 

 aame time one and two-thirds per cent , and upon 

 two-thirds of the debt, the securities representing 

 which have not been changed since the thirtieth <luy 

 nl' March, 1-71, there shall be paid a like interest: 

 Prmidtl, That the interest herein directed to be 

 paid, except as hereinafter provided, shall be limited 

 to interest falling due in the year 1678. 



8. Upon the payment into the Treasury of the 

 interest falling due on the first of January, 1878, as 

 hereinbefore provided, it shall be the duty " of the 

 Auditor of Public Accounts, the Second Auditor, and 

 Treasurer," who are hereby constituted a board for 

 that purpose, to ascertain and determine, having 

 regard to the surplus in the Treasury, the accruing 

 revenues as well as the demands against the Treas- 

 ury for interest, payable on the first of July, 1878, 

 and the amount necessary for the support of govern- 

 ment ; what amount may be paid upon the unpaid 

 interest fulling due first of January, 1872, and first 

 of July. I*;:;. And after they have so ascertained 

 and determined, it shall be the duty of the Auditor 

 of Public Accounts to pay said amount into the 

 Treasury, subject to the warrant of the Second Audi- 

 tor, and the same shall be paid in accordance with 

 the provisions of this act : the amounts hereinbefore 

 provided being all the Commonwealth is able to pay 

 at this time. 



By the same act it is made the duty of the 

 Second Auditor, upon the payment of the in- 

 terest provided for, to issue and deliver to 

 cro<litors n on interest bearing certificates for 

 that portion of the interest due and remaining 

 unpaid; and where interest shall be paid nnd 

 certificates given for interest due upon coupon 

 bonds, to take in, cancel, and file awav in his 

 office the interest coupons so paid or redeemed. 



He is also required, upon request of such 

 creditors of the State as have received or may 

 ve interest upon their debts under the 

 provisions of this act and the act in force 

 March 19, 1872, entitled an act to nrovid.- tor 

 the payment of interest on the public debt, to 

 issue and deliver to them interest certificates, 

 in accordance with the provisions of this act, 

 for such portions of the interest due and with- 

 hold on the first days of January and July, 

 H7\>; anil when such certificates shall be de- 

 in 'iinled for unpaid interest upon coupon bonds, 

 to receive, cancel, and file away in his office 

 the interest coupons so paid and redeemed. 



The legal rote of interest, in the absence Of 

 an agreeement, was fixed at six per cent, per 

 annum ; but a rate not exceeding eight per 

 cent, may be agreed upon and coll, vie,!. 



A bill was paased providing tor tin- estab- 

 lishment of a Board of Immigration, and ap- 

 propriating $5,000 as an " Immigration Fund" 

 to bo used partly in preparing " a geographical 

 and political summary from such reliable au- 

 thorities M may be had, sot tint: forth an accu- 

 rate description of the territory of this State 

 ami of its form of government; that the said 

 summary shall especially describe the various 

 character of iU soil, its productions, its climate, 



nnd its population ; that it shall also set forth 

 an account of its mineral resources. ( its uni- 

 versities, its colleges, its public tree-school 

 system, its religious advantages, ami an ac- 

 count of its various lines of travel ami trans- 

 portation by water and by railroad.' 1 This re- 

 port is to be published and sold at cost. 



The political campaign of the year was at- 

 tended with unusual excitement, and. from the 

 fact that the colored voters were all in the 

 Republican ranks, the contest was regard, .1 

 by some as one between the black and the 

 white race for the control of the government ; 

 the former supporting the Republican party, 

 which was stoutly opposed by the Demo, 



The Republican Convention assembled at 

 Lynchburg, on the 30th of July. About one 

 half of the delegates were colored. Colonel 

 Hughes was nominated for Governor. The 

 platform adopted was as follows: 



The Republicans of Virginia, in State Convention 

 assembled, do now formally announce their princi- 

 ples to the voters of the Commonwealth. 

 reaffirm and reiterate their platform of 187:.'. 

 indorse and approve the Administration of President 

 Grant in the past, and pledge it their support for the 

 future. 



1. That we are in favor of the ad-talortm system 

 of taxation, as adopted by the State Convention, as 

 the only just and equitable system, and pledge our- 

 selves to its support and cnforcem, 



Jkiolrf.l, That the tide-water population of tha 

 State have paid without complaint tue taxes neces- 

 sary for the support of the State debt con 

 public improvement, from which they derive no local 

 advantage, and are entitled to demand a repeal ,,f 

 any law levying a tax upon every interest or prop- 

 erty not general in this Commonwealth. 



Maolctd, That the Republican party of Virginia, 

 through it< repraMntativM in the State nnd national 

 Government, recommend the total abolition of the 

 tax on tobacco aa soon as it can be done without 

 detriment to the national finances. 



8. The greatest good for the greatest nutnhcr being 

 one of the principles of Republicans, we are in 

 of such a system of public improvement ns i-liall 

 best secure that result. The necessities nf not only 

 Virginia, hut of the whole e.mntry demand mcreasea 

 facilities for cheap transportation ; we are, ther> 

 in favor of the early completion of the .lames River 

 & Kanawha Canal, and call upon the t'"iii:roB of 

 the United States to take this matter into considera- 

 tion at the next session, and make an appropriation 

 for the same. Believing it to he anntionnl necessity, 

 it should bo a national highway. We pledge the 

 Republicans of Virginia to use every endeavor to 

 secure its early completion. We also lavor such n 

 liberal system of railroad improvement as shnll t*nd 

 to develop all sections of our State, and we call upon 

 the voters of this Commonwealth to unite with us in 

 securing these desirable results. 



8. The Republican party of Virginia, in common 

 with thfl national Republican party, is opposed ' 

 forms of repudiation, and favor sueh a financial policy 

 as shall tend to the payment of the puhlie deht of 

 the State without being oppressive upon her cii i. 

 We regard the expenses or our State government as 

 portioned to the available resources of the l"" 1 - 

 ple, and demand that they shall he mmlc more fully 

 to conform thereto. We 'disapprove all extra com- 

 pensation, and favor economy in (J >\ i rnim nt. E 

 and national: that we deem the net known as the 

 "fiitiilintf bill" as impolitic, unjust, and oppressive, 

 and ertneted solely in the interest of bondholders, 

 regardless of the condition of tin- Stnte rosoin 

 and that we are in favor of and demand the submis- 



