University of Virginia Library

Verification Given

In Mr. Dawbarn's answer to this
defense, the Republican candidate
pointed out that the Democrats
have claimed for years that the full
faith and credit is not behind the
bonds. He states that Senator
Michael has verified Mr. Dawbarn's
assertions.

According to Mr. Michael, the
bond buyer has to rely on the
contract, the General Assembly and
the Commonwealth to maintain the
integrity of the funds which are
applied to retirement of the bonds.

Senator Dawbarn's original
charges were made in remarks
prepared for delivery at the American
Institute of Banks in Lynchburg.
Senator Michael and Delegate
Paxson issued their joint retort on
September 22, and Mr. Dawbarn's
second charge came the following
day at the Richmond Association
of Insurance Agents.

Senator Michael and Delegate
Paxson remarked in their joking
defense that Senator Dawbarn was
not suggesting any additional economy
but was, perhaps, proposing
increased spending.