Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-12-14
pom Gte N.,s,s57-,-.
,nssrssIPPI STATE DEBT.

...-..,, a. lie State a. th's time, CgF97 Hl5
= ,.--urli. stances having caring upon Is
y. scaoI>ty CONSIDERED. u our -ast
se.. 49, we a.sed the question " Ho'r - t+s
r, .,,gs STATE 9sbt 10 Dc hqadaiedi aod
H., --aep cur notice OF TIE Suowci.
,.s t--ne @. the famous, (propcr.y SpsaA.ne
y, s-Ssi'n Of the Legislature Of Mississippi.
- MAJ, 1851, the State Treasury, pad
Ai.--.,ii,n. al the warrants issued Ia Tie va
I.-,,pfs. At hat session an act was passed,
-, the reception OF the portion q! the sur
.-.,,,e ean,ing to The State under The Genera.
p In act of Congress. The amount about
% S'---l-sJ thousand dollars. was received from
f---s-,l Cove rnmeni, in checks upon the Pan
E5.aJ Agricultural Banks at Natchez. Those,
- a. stated IN our previous notice 81 ms sub
"a received the amount from The Government
i.,,s;,e IN the precious metals, hut PAID me car
q he State in the notes Of the Brandon
~ A. The same Session of the Legislature, a
h'uA mn was adopted authorizing the reception of
T~-..s,oi Al the chartered banking Institutions of
So IN naymtnt for taxes. This resolution
rs .l IN f,rre until il was repealed al the last
m. At Nm. Legislature. The State during the
800 IL existence received in payment olits dues
1I - amount Of the paper Of the Brandon ~
80, Ranks. which il IS now unable To pay TO rs
oI,s,s AMI which il will probably lose altogether.
=, Js l,s, session of the Legislature resolution
=, aloo,sd authorizing the State Treasurer 10
.s,,;,,e a loan with the Mississippi Union Bank,
s,r, sufficient to meet the immediate wants OF
- S,,ta Goycnment The loan was effected
.sl although the Legislature had but two weeks
.,sv Aay repealed the resolution. authorizing the
,ecepon Of the notes of the chartered Banks OF the
S,,fs and no law was in existence on the subject,
except the revenue law of June, 1882, yet the
lTnion Bank in direct opposition 10 the express pro-
VISIONS OF the law, requiring all monies to be paid to
,bp State in current OF the United States, ei-
Ter granting the loan under the existing laws, paid
me warrants on the State Treasury not in current
oin but IN It's post notes.
Such is the condition Of the State Treasury ST
his lme and such the condition of those Banks Tor
which the State Bonds have been sold, that no pos
abe means for repleniShng the exhausted Golfers OF
he treasury, and enabling the State TO be in read
ness to discharge impending liabilities, exist but to
resort TO direct taxation.lt behooveS the politicians
If the State, therefore, to look around them, and
inquire, " How is the accumulatlng State Debt to
xiquIdated." Shall any additional tax be imposed
upon honest labor' No: But the State Tax direct
must be increased, and the State Tax indirect, re-
daced. The insidous arts practiced by the non
producers in the State must be stopped by ener-
gec legislative enactments, and the products the
country, pad for, in "current coin" The pursuits
BY which men obtain fortunes without the use Of
capital, labor or intellect, must be put down. and
The large sum of money distracted from the public
10 support the thousands of Bank officers IN the
Commonwealth, reserved 10 the people from whom
il is robbed, ana to the State.
The experience Of the last three years, s enough
convince The candid Of all parties, that MssiSslp
Pcan never emerge from her lhraldon, unless some
rsdical change takes place in her domestic policy.
Il is folly to preach industry, and economy, to the
people, while the hungry vampires olmodctn Bank
ing are sucking up the Illebood of the community.
Let the swarm be driven awaY-lhe productions OF
the country taxed by the expenditures Of the labor
ing classes only and then, and not til then will tho
effects Of domestic economy be felt by the State at
large.
GOVERNOR MoNUTT.-In celebrating the
signal Republican triumph in Mississippi, we can.
not refrain from expressing our high sense Of the
merits and cxertions Of Governor McNUTT. At
the darkest period he did not hesitate to come
forward and proclaim his uncompromsing oppo-
sIuon TO the miserable system which has prostra-
ted the energies of ono of the fairesl and nobest
members of the Union. Like the Hon. RoBERT
j. WALKER, desplsng all halfway measures and
temponzing eSpedents, he placed himself upon
the high ground OF prtaciple, upon which the bat.
lie IN Mississippi has been fought and won
those who read his admirable letter which was
Unpublished in the Globe, must remember that
Governor McNUTT frankly and thoroughly ado
ted IN their whole extent, those sound politice
and financial doctrines, which can alone make
victory desirable TO the patriot, or permanently
useful 10 the people. Nor can our acknowledge
ments be withheld from the Republican press IN
mat State, generally, and we must not deny our
thanks to the Nicksburg Sentinel especially, for
It's print from which former collisions did not
allow US to expect such cordial and efficient CO.
operation. Its able and strenuous exertions con.
tbuted essentially, with the powerful batteries of
lhe od Democratic organs, to the defeat Of Fee
deral Bank Whigey in Mississippi Globe.
WhGtis The Reason the Boston States
man, that Democracy has gone on a steady in
crease IN massachusetts for ten years past! From
SIX thousands votes, the Democrats have grown
to lorty-two thousand, WHAT IS THE Reason
The Federalists have able and zeaus leaders
tney have all the State and majority of the Post
uiilces under their control; they have ONE HUN.
DRED FIFTY MILLIONS Of charter credit capital,
'aey have ten times as many newspapers as the
democrats, they have the benefit of long ascenden-
cy IN the rule of the State; they have the nAu-
enco that all the banks can give them yet they
cannot maintain their standing They are fall
ing IN minority! Why IsIT'
Men do not change their opinion without cause |
y oihng but full conviction that special Legs.
iai'on has been the end and aim of the party
n power could have done this-THEY HAVE
TOO MuCH.--They have dealt nut to
partIzan lavOtites--to credit aristorracv-those
exclusive privileges, the comforting of which, turn
The high halls OF Legislation into temple of
nammon, where money changers huckster for
her private gains. The conviction that srch |
has been the case for ten years past in Massachu.
sets, is the REASON why sober, CONSCIENTIOUS
hlnklng men have left the ranks Of whiggism
luG enrolled themselves under the banner Of de- |
nactacy."
The Statesman has answered the question:
Thinking man bava Io,, and will continue tn |