Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-10-17
State Debt--TaX or no Tax--Fea,
raj Policy.


raj Policy.
viii the people submit TO British taulo,
will they from the hard earnings Of ,hsl dsts
contribute their mite in support Of those h1,.
that hang around foreign court, whose oar
sness is the study Of means to swndIs n,
neighbor. The crisis is at hand and We ns
choose between The alternatives. The movsr,-
Of the people on this subject must and viii ae
powerful bearing upon other States .ialrr
indebted and therefore it becomes Us 10 vss
well the question and all the collateral points
We stated last week that the policy pa,sl
by the Democrats was al open and avoysd O.
on this subject, and that Of the Federal Of Va. |
party by suneplllous Inanoeuyeung 10 tatA
yor 10 conceal what they dare not a,oW oRa
that of assuming the debts Of the State by heGe
neral Government. The policy Of Atmda
Hamilton was that Of Funding the State ds6a4
that is the policy Of the present gencraIoudI'
derallstS. SO far a. circumstances and he 0p#
sion Of the press go on This subject, oil lead @e
the sure and certain conclusion that Nsyar
the assumption Of the debts Of the States lla'
ever, one OF the principle, upon syi
they act as party ais not TO make any mote q
clarat.n of principle FOR III, public eye" dePna
us, no doubt Of much valuable inlorm,On We
will proceed to show from some OF the I''tfi
Wing Journals that ibis matter vas u PtI
progress and was fastened by the embassy O. "
!" Godhke Daniep' to Europe
Among the bI,tercst fruits Of the deane're
of our money matters, is the dlslIuSi Of vlIaa'
ability on the part Of debtors 10 pay Oer n'pa
sbllltes. This disuust has reached our Na
engagements, and the bouds of some Of them ~
down to avery low price. have heard a'@
insinuallons against their payment lrF dNes@
sons but my own opinion Is, that Il ways p uF
charglg them were provided, they "olla s'a'
as firm. perhaps more so, Than any other sf.'
ties. Most Of these bonds hare been Oppr..Ig7g.
led tor Objects Of internal Improvements S'l'
It not be a wise provision, II Congress St'' I,
set aside certain amounts Of the pubic 'aou |"
their ultimate redemption I"
The ABOVE was cast out as a tesG " "
party" by the National Iutelllgencef' 'noss "
half an eye can sec that 1t smaoks SiIo's! " y
Claws " American system whose poI' I"
ever been that Of appropriation Of 'DF p''''.
revenue "ior objects of internal 'mp'o'''''
Let us see how the bait was snapped al v J"
:" small fry" of Wall street: r,
"On the 20th November, 1889, the Ne" x !.
American, which is the organ Of the aeeO'' -
Barngs in this country, published long CUM !,
cation on the suhjeC! OF tie assumption d NJ
| debts by Congress, announcing II eurv'" ~
subject ''nl vast and comprehensive i'at'h ld,
that piN probably lead TO much dlsca'"aa
and out Of Congress" and inviting aI'eo''Op Wv.
On the 22nd oil November, loS9. Inc o'a ,.p, /,
Advertiser, edited by Col. Stone, published r.
cuIar oil Messrs. Banng' and recomIitn"so .r M
ject of"a national pledge, TO the iuts .,, nv
While slrenuously advocating the a>suHiP', w.. IA
Slate stocks by The General Governnlen" ~ ,',,,r
remarks that "as 10 the Objection Of t"s 'r,
a national debt, 1T HAS NO TERROR FOR - ,ors
AL The same period. the Courier ana Ut ,.'4
the official oruans of Mr. Blddle IN New IN I,t
pressed It's appreciation Of the pan o. '''
BANKERS in the following language. S.,,s
:" Let tie Governmt oil The thitu
which means The peoples Representative N
houses OF Congress create THREE HVep" -,
IONS oil stock, bearing an interest OF w. Ing
per annum, aud let this be spporunheu '" n.
States On tie principles Of Mr.. Clay 'cna N
is pro rata, according 10 the hnmotr o. VIZ i
tors and Representatives, in CongrtsS' sn G ~
proceeds OF the pubic lands be SET ASIDE aN :,
IL pledged as sinking fund Tor 'Ie 'spe"f
this stock. Let the Secretary OF lux ,,'svsba
some other suitable person, bt!appmh'eo I'M Il,
so much Of this stock as may be me l"'u .I ,ad
STATE for the stock OF such State 90" 81. s,ef
Ter certain perod-Say SIX months ,ksk,
balance To the respective States. Mos' - MI
holders Of some State stocks woud lo' ~ s
TO II AXE such all exchange, and -, IL ID
would receive its entire portion, and PROM = !,
est ANNUALLY received on the United c'a ,s.,.
and sales olit from time TO time, as ''''' .,a.t
required, be in situation 10 Ir'g'csS INV III
It's pablo works, whether cumms nced - .l,sF
bryo. United States stock wonid 'u'a ~, haal
the space at present occupied hy ao'u' - - Aead
millions OF STATE stock: the Temsln'il1 Te,sss
millions would BE- deposited N he o'a'e ,6es r
ma would only be offered i'r sae III asr
works or other necessities reGai'e"' ,,ll eri5r
capitalists Of Europe and America "O'
purchase at premium. 40 Mes
! 10 the same month Of Nuyenot' '''