Abstract

Virginia Coupon Cases

The article focuses on Virginia Coupon Cases. It states that recent decisions of the Supreme Court in the Virginia coupon cases have already resulted in a special message from Governor Fitzhugh Lee to the General Assembly of the State. He recommends the appointment of a commission with no other power and duty except to urge creditors to accept Riddleberger settlement of February 14, 1882, which Virginia has decreed. It is hardly to be expected that creditors will accede to a settlement, which is the very thing that they have been resisting ever since the act of 1882 was passed. It is absurd to suppose that creditors will fund under the Riddleberger settlement of 1882. Debts funded under acts can be repudiated principal and interest, since bonds do not carry coupons, which are receivable for taxes.