Background
William Mahone was born on 1 December 1826, in Monroe.
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(This historic book may have numerous typos and missing te...)
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1881 edition. Excerpt: ...funded the same and sold the new bonds at market rates for $59.40, thereby realizing a profit of $35.40 on an investment of $24. It is easy to see that by a like process with the whole ten million of the 'peeler debt the syndicates could have netted $3,500,COO on that alone, without reckoning their commissions and profits from other sources in this funding job, of which they had the complete monopoly, without restriction as to per cent. They were in no sense the agents of the State; in effect, the assignees. The bill was not only forcible in the hands of the syndicates as against the 'peeler creditors, but also as against the consol creditors and the State herself. The force here was principally provided in THE TAX CERTIFICATES2 heretofore alluded to, whose issue was compulsory in default of money in the treasury to meet any payment of accrued interest under the bill; and asinterest was payable every six months, with default assured in advance at every such period, these certificates, to be sold at seventy-five cents in the dollar, were issuable semi-annually and redeemable every six months,3 thus subjecting the State, as long as the process was possible, to an exaction of 5£ per cent, per month, or 6Cf per cent, per annum, to raise means to pay 3 per cent, interest upon the bonds issued under the bill. How much better and more direct, how much more compatible with honesty and fair-dealing with the tax-payers, who at last would bear the burden of the extortion, it were to raise the rate of taxation, the necessity for which this ruinous provision confesses? And just here we might inquire how long it would take by this process to destroy the vitals of a State, long since in the throes of bankruptcy, and unable to make buckle and tongue...
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( This is a reproduction of a book published before 1923....)
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book. ++++ The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to ensure edition identification: ++++ Attitude Of The Readjusters Of Virginia Concerning The State Debt, Free Schools, A Free Ballot, And A Fair Count, Volume 563, Issue 26; Attitude Of The Readjusters Of Virginia Concerning The State Debt, Free Schools, A Free Ballot, And A Fair Count; William Mahone William Mahone n.p., 1881 Virginia
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William Mahone was born on 1 December 1826, in Monroe.
William Mahone graduated from the Virginia Military Institute and decided to become an engineer.
William Mahone succeeded so well that at the age of 26 he was chief engineer of the Norfolk and Petersburg Railroad and at 33 was elected its president.
During the Civil War, Mahone distinguished himself in the Army of Northern Virginia, rising to the rank of major general.
After the war he returned to the presidency of the Norfolk and Petersburg Railroad and began to consolidate it with other railroads in order to build a line that would extend to the Ohio River. He encountered strong opposition from other railroad interests, including the powerful Baltimore and Ohio. In order to get state aid, he began to help Conservative party candidates who appeared sympathetic to his interests. Nevertheless, after the Panic of 1873 his railroad system failed, and he turned his attention to politics.
In 1879 Mahone emerged as the leader of a movement of reformers known as the Readjustors, who gained control of the Virginia Legislature in 1879 and of the governorship in 1881. They enacted many reforms, such as abolition of the whipping post and poll tax, tax relief for farmers, and funds for public schools. They also elected Mahone to the U. S. Senate in 1881, where the election year membership had been evenly divided between Democrats and Republicans.
As an independent, Mahone could cast the vote which would decide which party would control the Senate. He voted with the Republicans, who rewarded him with all the Federal patronage in his state. This support combined with the strict control he had established over the Readjustor organization made him briefly the political boss of Virginia. But Mahone's arbitrary rule made many enemies and his appeal for black votes enabled his opponents to raise the question of race.
In 1883 the Conservatives regained control of the legislature by endorsing the Readjustors' reforms while exciting white prejudice. Mahone and the Readjustors now officially joined the Republican party but were unable to win back political control of their state.
William Mahone led a movement of reformers in Virginia known as the Readjustors, with whose backing he won election to the U. S. Senate.
A large portion of U. S. Highway 460 in eastern Virginia (between Petersburg and Suffolk) parallels the 52-mile tangent railroad tracks that Mahone had engineered, passing through some of the towns that the two are believed to have named.
Several sections of the road are labeled "General Mahone Boulevard" and "General Mahone Highway" in his honor. The Route 35 overpass of Route 58 in his native Southampton County, Virginia is named "The General William Mahone Memorial Bridge". A monument to Mahone's Brigade is located on the Gettysburg Battlefield.
(This historic book may have numerous typos and missing te...)
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Mahone served as chairman of the state Republican party until his death in Washington, D. C. , on 8 October 1895.
Confederate States Army, the Virginia House of Delegates.
William Mahone was a tiny man, hardly 5 1/2 feet tall and weighing less than 100 pounds, but he had complete confidence in himself and a commanding manner.
On February 8, 1855, Mahone married Otelia Butler. They had 13 children, but only three survived to adulthood.
