New-York tribune., 1841-12-07

delpbia. is seriously Ill, and Will no' be able %
.akc his .eat for some days.
n Shall we ever see the end Of the Custom
House Investigation in ,n. Cityl The People
are anxiou, TO learn the result. Gentlemen Com
rri,sioner= le, U. have the facts before tRe waoe
spbjcct ha. passed out Of the public mad.
THE OaLiGATloS 10 PAY STATE BoSD=.-
Whenever menen,ary success has accrued to
Loco-F Focoi=rn is pari.ans have raised shout OF
ezul,a,ion Is though the Wing parry wa ire
vecaoly overthrow. Whiggery is ennihi-a;ed-
used up-demolished . exelaim the inoUgatiess
carnp-foIswers Of the victorious host; we haze
driven the la., nail in lis cofaa The next year.
taey are very often beaten on the same ground;
and soon afierward they are electrified syitn iae
,iding, Of great reactions and glorious g-ins
70. them in the very States in which they mad SO
recently anniaila,ed all opposition.
Tae cause Of this is the moral inability Of the
parry TO &C; justly OF hoaoraby except in tic face
ot powerful opposing force. Give them full
sway for wear, and they will destroy themselves
by tyranny, violence and bad faith. lie, the Wing
party disband aad yield the country to thau to-
Morrow, and before three months they would de-
-troy ;hemselys. ;or years. Even while under the
-alutary fear of the Wing party drawn up in their
front, they canno, keep within the soulas o. d.
cency. and their recent accidental ,riumph-ior-
,uious and hollow as it Is and feeting as it Wi!
provc-has led to a new development OF de-
prayi,v-,he exhibition Of a lover deep of de-
basement, in the bold avowal by many and the
;acit or open justification by oil Of them Of ,h-
proprie,y and policy Of RePudiating STATE Bonds.
We have before Us pamphlet written by NJ.
Francis c. Treadwell, doctor Of the sect residing
in our sister City of Brooklyn, maintaining the
general doctrine lha, the Bonds Issued by the Co
yernfn cnt. VI the several S,a;cs, and out-;and
ing as debts against ,hefs, not really STATE
Debts, and the States osgAtnot to pay them Ihi-
bas not been inspired by the Ms-i.,ipri viIlany;
but it was written ard published last year though
recent events have elevated ITO importance the
creed, not of an individual, but Of considerable
and increasing portion Of "a great party 1t is en-
titled Letter to Daniel Webster, upon the lie
sality Of State Bonds and Loans of STATE Credi,
and boldly asserts that the State Bonds universally
are not State Debts and ought to be paid by
the Sta,es-becsuse the Federal Constitution pre-
hibits the emission of BiIs Of Credit by iho States:
The writer assuming that State Bonds Bills of
Credit, therefore unconstitutional, mercfor> not
binding therefore not to be paid Tn- Is the
gument in shorthand 1t seems to Us that the two
last conclusions are drawn in defiance OF the plain
est principles of moral rectitude as well as sound
logic Even were we TO admit tkat all State Loans
were unconstitutional, and therefore not TO be con
rracted in future, we cannot in TINS any
why those already contracted should not be paid.
For no intelligent man can fail realize that The
People Of NewYork, by The rcPea'sd elections Of
CLrSroS and SEWARD Go say nothing OF other
Governers) and of many successive Legislatures
opeply and ardenty favorable to the prosecution Of
Internal Improvements by means of State Loans
have clearly given their suncton 10 the policy. We
feel that the People. in ecciing Statesmen as their
Legislators whom they knew to be committed to
this policy. pledged the faith OF the State =" -
ounctual and faithful -,''ent Oh 'tc Loans; ana
-. IN our judgement be sadly deficient IL
moral principle a, we'll public spirit and patri
otism who would resist such payment, aud thereby
10 his bes, to defraud innocent creditors out OF
their property. Srch is our view Of the doctrine
Of Reputation, even without stopping TO question
the first premises of its advocates.
We have no, here spoken of the folly, the mad
impolicy, approaching insanity, of advcrli,ing our
State to the world as unworthy of credit and inca
pabe Of repaying dobt however trihing. Such
considerations are lost upon Il genuine Loco-Foco
Ne have sot urged the notorious fact that every
dollar invested By the State in her works will be
paid, principal and interest, from the income Of
those Works themselves, beside transporting all
goods through the State at less than one-fourth
the cost of land conveyance, and increasing tae
s. .luc Of properly in our State alone more than
O4e Hundred Millions of Dollars. We have not
Stopped 10 urge that every asorer in ovr City buys
his aour at least dollar barrel cheaper than he
would in the absence of the Erie Canal, whi.e the
farmer who raises the wheat receives double in
money and four times in the commodities he was,s
wha; he would obtain in the absence of our State
Improvements. We look ut the question Is one
OF simple recttude and honor, apart from al con-
siderations and questions OF loss and gam and,
eadeayoring to exercise much charity as most
men, We cannot Yet avoid the conviction that the
man who can deliberately advocate the fepudi4-
tion OF State Bonds must be unsound in merals and
corrupt in heart.