The idea of public improvements, which developed in the thirties, found enthusiastic supporters in the State. In 1835 the debt hardly amounted to $2,500,000, but during the short period 1835-38 $4,132,700 was loaned, the main purpose being the construction of canals and railroads. Although the debt had grown to $12,000,000 in 1857, an act was passed in that year authorizing the Board of Public Works to borrow the necessary sums for the continuation of the works and the refunding of old debts. Within the ten years 1851-61 debts to the amount of $24,538,716 were incurred, and at the beginning of the Civil War Virginia had a debt of more than $35,000,000, created for the purpose of constructing railroads, canals, and roads. During the war the interest could not be paid and many more loans were made; and although these loans for war purposes were repudiated by order of President Johnson, the overdue interest payments swelled the debt considerably. This interest was funded by special act in 1867, and for a year Virginia met her obligations, but, passing under military control, was again forced to stop payment of interest. By 1870 the debt had grown to $45,872,778. A complicating circumstance was the organization of the western counties into a new State—West Virginia. Virginia, holding that the new State was responsible for part of the debt, was willing to pay only two-thirds of the interest, namely, 4 per cent. An effort was made in 1871 to settle the question by a process of refunding the whole debt. One-third of it was designated as the part of West Virginia, and refunding of this part was made dependent upon settlement with that State. This settlement was never brought about and a third of the debt was thus absolutely repudiated. The rest of the debt was to be refunded at its full value and old rate of interest, with the coupons made receivable for taxes. This clause is mentioned because it was the main political question in Virginia for the following twenty years. In the following year the ‘readjusters,’ i.e. those who advocated the necessity of reducing the debt of the State, were victorious and they began an attack upon the coupons. Repudiation was impossible as long as the coupons were receivable for taxes, and this clause became the object of attacks. Dozens of ‘coupon-killing’ acts were passed in 1872, 1873, 1876, and until 1885; most of them were declared unconstitutional by the United States Supreme Court, which held that the objectionable clause was a contract and therefore inviolable. Every new decision of the Supreme Court called forth efforts of the Virginia Legislature at some new way of evading the obligations. The struggle lasted for twenty years, and, though the State never accomplished its purpose fully, it succeeded in putting so many difficulties in the way of receiving coupons for taxes that the amount received sank very low. Meanwhile an effort was made to settle the question by the act of Riddleberger, which was vetoed by the Governor in 1880, but passed in 1882. The basis of this act was repudiation of the unpaid interest since 1861, and the total just debt was calculated at $19,665,196. Most of the bondholders refused to avail themselves of this offer. The final adjustment came only in 1892, after long negotiations between the State and a committee of English bondholders, when the total debt of the State which was not yet refunded, estimated at $28,000,000, was refunded at the rate of 19 to 28 by 100-year bonds, bearing 2 per cent. for ten years and 3 per cent. for the rest of the time. Since then Virginia has met her obligations. About $24,000,000 of bonds were refunded under this act for 16. Her present total debt cannot definitely be stated, but amounts probably to about $25,000,000. A great part of the Government income is as yet derived from a poll tax (8 per cent.), a real estate tax (30 per cent.), and a personal property tax (11 per cent.), but many other sources have been added since the Civil War, as liquor and other licenses (18 per cent.), an inheritance tax, taxes on insurance companies, railroads, oyster grounds, etc. A considerable sum is received for hire of criminals. The main items of expenditures are interest on the public debt (22 per cent.), schools (20 per cent.), and hospitals (10 per cent.). The total receipts in the fiscal year 1901-02 amounted to $3,795,093 and the total expenditures to $3,910,191. The balance in the treasury on October 1, 1902, was $739,392.
Government. According to the Constitution adopted in 1902, the privilege of voting is limited to male citizens of the United States, 21 years of age, who have resided in the State two years, in the county, city, or town one year, and in the precinct 30 days, and have registered and paid their poll tax. Registration is limited to male citizens of the United States, of qualified age and residence, who, first, have personally paid to the proper officer the State poll taxes for the preceding three years; second, who make application for registration in their own handwriting; and, third, who answer questions affecting their qualifications as electors. If the individual has served in the Civil War in the army or navy of the United States or Confederate States, he is not required to pay poll tax in order to be allowed to register.
Legislative. The Constitution provides that the Senate shall consist of not less than 33 or more than 40 members and the House of Delegates of not less than 90 or more than 100. The Senators are elected for four years and the Delegates for two years, elections being held on the Tuesday after the first Monday in November. The legislative sessions are held once in two years, beginning on the second Wednesday in January, and continuing not longer than 60 days, unless with concurrence of three-fifths of the members, in which case the extra time is limited to thirty days. Salary cannot be received for more than 60 days at any regular session, or 30 days at any extra session.
Executive. The Governor, Lieutenant-Governor, Secretary, Treasurer, and Auditor are each elected for a term of four years, beginning on the first day of February. The Governor is ineligible for reëlection for the next succeeding term. A two-thirds majority of the members elected to each House overrides the Governor's veto. The Governor may veto any item of an appropriation bill, in which case the bill is returned to the Legislature for reconsideration, and after action thereon is sent again to the Governor as in the first instance.
Judicial. The Supreme Court of Appeals consists of five judges who are chosen by a joint vote
