Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-11-30
Fum he OAn Statesman.

our drink in our nccessafies and our comforts, 10
our iabonrs and our amusemenls, for our calhngs i
and our efeeds. as he people OF England are 4
our people Ike iher1, must COME 10 labor sxicen'
hours 10 tire twen'y four, give the earnings OF h
teen Of these 10 the Goseiamenl fof Their debts |
and daily expenses, ana tho sixteenth being ~
sufficient 10 aifytj as bread, must live, they
do now, on oatmeal aud potatoes have 10 lime
10 think, DO means Of calling ihe mlsnanagefs 10
account, but be glad 20 obtain subsistence by bar
lug ourselves 10 rvei their chains on the necks VI
our fellcs sufferers. Our land holders Too, like
theirs. retaining indeed, the title aud stewardship
o( estates called theirs, but held really 10 trust toi
the treasury, must wander. like theirs, 10 loroign
countries, and be conlenled With penufy obscure
", exile, and the glory Of the nation THIS ex-
ample reads 70 Us the salglary lesson, that pIlya.e
fortunes are destroyed by public, as well as by
private sxtrayagance. And this Is the tendency
Of oil human governments. A departure from
principle IN ono instance, becomes a precedent
for second that second for a lhlfd aud 50 On,
all the bulk Of the society is reduced 10 be mere
aulomalona Of misery, 10 have no senslbhcs
left but for SHINING and suffering. Then begins,
indeed, the helutn omnium in omna, which some
philosophers observing to be SO general 10 his
void, have mistaken il for the natural instead oil
The abusive state Of man. And THE FORE
HORSE OF THIS FRlGUTFUL TEAM
is PUBLIC DEBT. TAXATION FOL.
Lows THAT, AND IN ITS TRAIN
WRETCHEDNESS AND OPPRESSION"
It's fortunate for the American people thai they
are likely 10 be aroused thus early TO 4 sense Of
Their condition, and the dangerous tendency Of The
spiiit of creating debts for poslcrIy 10 pay II
viii be serious question with them whether hon-
or OF justice requires them 10 liquldaIe the mil.
lons Of debt contracted BY states, counties, town,
and city, and bank corporations.
little adversely, however, will bring States
and corporations 10 their senses, aud IN feeling
with MIR. Dawson, the editor Of the Cincinnati
Adviser We cannot bu, be highly pleased a,
unoiher evidence Of Mr.. llanmouG's correct
views on the State debt question. The Advertiser
thus introduces the subject
Tel il mol IN Cath, nor publish il in The streets
Of .lskdIon,
CHARLES HAMMOND, A LOCO Toco.
II was with astonlshmenl We read and with
pleasure wc republIsh the leading article Of the
Gazette OF yesterday, TO find such an article
ilon The pen Of Charles Hammond, will. we IRE
sure, rs much surprise our readers as II has done
US.
We set aside our own editorial this day ia or.
der to give place 10 bis. The table alluded TO 10
i was published 10 our paper some time since,
aud is therefore omitted now.
Wc marvel wha, Brother Noah will say to
Brother Charley. lie, Noah has attributed all
our present difficulties 70 tho action OF the late
aud present administration Of tho general govern
InenL When such doctors disagree, what ID 9th
ers 10 sayl
The lederaisis Of the east consider the Ga
zetis as the organ Of the wing party in the wes
aud that such sentiments should be found 10 IT
will be looked upon as great a revolution as thu
OF The lalo elections.
DEBTS OF THE STATES.
Those who would DO correctly informed of til,
causes Of the present business enbarrassmens o
our country, IN their lecent discussions seems I,
have overlooked the debts of the States IL
June, 1888, the comptroller Of the State Of New
York, addressed letter to tho different states
making enquiry what amount is laws authorized
to BIO borrowed for internal improvements. Tht
answers he received enabled him to make III,
following tale
This statement Is confined to contracts aulho
rised al the time Of making IT. say June or july
1888. Since that time laws have passed authors
ing largo increase for banks as well us publ
works. IL Ohio, VIC know the debt exceeds I'll
teen millions Of dollars. This table shows, thai
from 1925 TO 1898, the enormous sum Of ON
HUNDRED AND EIGHT MILLIONS wa
brought into employment IN tho United State,
over and above the products Of our own industr,
In addition TO THE, TWENTY EIGHT NIL
LIONS deposit, was made Of the United Stat,
surplus revenue within The same period of ,um
These two sums make ONE HUNDRE
AND THlRrY.SIX MILLIONS, in none
that, in three yeats was received aud us,
among us Could this possibly take place vii
out deranging employments and prices, in eve
department of business There is no occas
to blame tho banks or the national executive.
The flood Of money that was thu. introduce
created expansions IN every thing, II could II
be otherwise. And at the moment OF create
expansion wo are subject TO sudden conlractlc
by the cutting Oft all further supply from this /
tEaordlnary source. Ger debt to Europe, VIII
must be annually paid, il some TEN MI
LIONS OF INTEREST FOR BoRRo'
ED MONEY, and the annual excess Of
imports over our exports, supposed to be FIT
MILLIONS Tor l63S-39. THIS debt we m
pay ia specie, for we have nothing else "
which We can expect TO pay il, except the exp
Of Aour. Our manufactures are nearly destroy
our navigation is chiefly for our ou n account,
ont cotton simple Is absorbed Ia the estimate
payments made, or an offset OF our expo
against the whole IF our annual imports.
We presume there is no example Of so larg
sum being brought INTO employ, in so shor
time, from extraordinary supplies. Il accou
for all our commissions, when we are inioru
that this supply is suddenly stopped, when Ia
pgepa alions were made for increasing it rud
ting il into immediate use. We talk Of the cri
as an affair which is soon 70 pass by But
can II pass away, without adical change Of
circuussancesi The bnrthen Of our deb,