Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-12-14
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MISSISSIPPI sTATE DERT.

MISSISSIPPI o1AlE DEBT.
The condition Of the state treasury vail. NO
doubt, receive the serious consideration 81 The
next Legislature. An enormous slate debtis
gradually creeping upon the commonwealth. aud
the subject demands the immediate attention OF
the reform party in the state councils The state
treasury is nov without dollar, and IN debt Sow
eral hundred thousand dollars, besides the debt
due the General Government, for portion Of the
surplus revenue, received by the Banks in the
precious metals, and paid out 10 the people IN
Brandon Money
In lS4l the first lnsalmenl Of the debt croa.
ted By sale Of two millions Of bonds fo the
Planters Bank, becomes due. The sum 20 be
then paid is two hundred and fifty thousand dol
lars. The failure Of tie Planters Bank, during
the last spring, 10 redeem It's posl-noios at malu
uty, gives earnest. that this debt may chance 10
Call upon the people. In 1850, or about that
time, par Of the debt contracted by the swap
ping of the frs, five millions Of bonds, issued to
the Mississippi Union Bank, likewise falls due.
and little doubt Is now entertained by any bat
that this debt too, will fall upon the people How
are these debts 10 be lqudaied
The subject is one big with importance. Ey-
cry property holder IN the StAlo--nay, every
ciIzei, or soIourner III Mississippi Is interested IN
IL; and all may well ask the question, how are
these debts TO be paidl Throughout the whole
State, the people will answer that the State tax is
even now more burthensome than they are vii.
ling 10 pay, and yet It would seem from tho stua
tion Of those Banks which have borrowed the
sums, that they ATE unable TO meet the debts con-
tfacted by the State foe 'hsh use, ana that the
only possible mode for the liquidation of the
debt IS 10 impose direct tax, and wrench il from
the sInews OF the people. The grea Importance
oil the subject recommends il, therefore, to the
especial consideration Of the representatives of
the people, Of their next assembling the
character oil the State will demand IFS thorough
investigation. That State possessing the i'm
mense resources that Mississippi does, should be
thus cramped, and unproyIded to pay few hun
dred thousand, or even millions Of dollars, would
seem 10 be matter Of just surprise but TO those
who know It's actual condition., the subject wears
different aspect No people under Heavens
broad canopy, IN times OF peace, cvol paid a tax
half SO enormous as do the producers Of Missis-
sippl. The tariff, so bitterly opposed by South
ern politicians, dwindlcs into complete lnsguiii.
canoe, when placed by tho side Of the enormous
Bank tax, which the Stale now groans under;
and, unless some measures are adopted to rid the
State Of this crying evil, il must remain unpre-
pared, as Il Is now unable to discharge It's obga.
tons and, il would seem, to support lis own 20.
vefnment.
The tax paid 10 the Union Bank would alone,
deiray oil the expenses OF the state government,
10 say nothing Of the other Banks in the State
That bank, when fully in operation, with its seven
branches, and its "army Of officers" will cost
sum annually, little short Of two hundred lhsu.
sand dollars, apart from the interest upon tho cir.
cuaiion OF notes IN place Of money, which il will
receive. The numerous other banks in tho state
impose an additional lax, for the payment Of Off.
GERS and house rents, not short Of half million
Of dollars per annum, all of which is indirectly
taken from the pockets of those who with sweat,
exc their yIngs from tho sol. From this goad.
Ing imposition the people can be rid by proper
Legislation. The people Of Mississippi demand
OF the next legislature, the enactment Of suitable
laws in relation TO this important subject They
will be satisfied with no halfway legislation. The
character OF The State, as well as the prosperity
Of individuals demand IL and we trust there viii
DO no fllnchng on the question 10 the next us.
sembly
We shall pursue this subject at another lime,
simply concluding the present article by a repi
ton of tho question, how is the accumulang
state debt to be liquidaledl