Lexington union., 1841-02-13
For the Lexington Union.
THE STATE BONDS.


DEAR Sm:-The Mississippi State
Bonds are becoming quits prominent
topic Of conversation. The solyen, men,
wi'hou, regard to party, are generally up.
posed to taxation for their payment; wniIe
those who are otherwise, are mostly in
tavorof il. Where is the code Of ethics
that will Justify those who refuse to pay
their own just debts, in clamoring about
State pride, S,Ate honor, and moral pin.
clpIey Ii seems TO me that men, not des.
titute Of every principle of true honor or
delIcacy, who know that they are uncon.
cerned IN point Of interest, should see the
propriety Of leaving the matter 10 those
who will have them t. pay, if paid at all.
| have no objection, however, to the pay.
me.t Of the bonds, hy voluntary conirIbu.
lions, as some have suggested; Tor that
plan would be Dobjeclionable in precedent
and at the same time afford the " bows"
lair ca nee TO display their magnanimI'y,
II the bond holders would send out agents
to open books Of subscription, on credit
there is no doubt but the bonds would be
paid, with the same libcrality that bank
stock was taken n few years ago--and
when the insaImenls fall due they will be
pal ia the same mauner that such men
usually pay their debts.
This is a matter Of mach importance 10
people of Mississippi, the merits Of which
sholli be thoroughly inveS.igat ID. There
has been much said relative to the legality
OF The sale Of the bonds, about hlch il i,
MT my Clrposr, at this lime, to say any
thing. Oly OBJECT is to mike few re-
marks on the moral obligation of the
cltIz.ns Of Mississippi to tax themselves o
pay ihrse bonds. When persons talk
about national jnsiice, conscience, and
morality, as applied to individuals, il is
difficult to understand them-for the
violation Of these terms is an object Of
future punishment. How then, can they
be prop r'y applied 10 goyernmenls2
The payment of debts, so far as gov
ernments are concerned, will resolve itself,
if closely investigated, into the broad
principle Of e.xasl!sncy. And if the bond
holders purchased in anticipation of any
other principle Of government, it was
because they expected that on this side
the Atlantic, which is never practised on
lhe other.
How then, is the citizens Of Mississippi
morally bound to vote for any tax whaIev,
er? The answer is by proving il 70 be
expedieni, for the welfare of their country.
And Who is to be the JUICE Of the expedi.
ency? Every man for himself, 80 la- as
moral principle is concerned, save an EN-.
inent philosopher Prove To mo that the
raising money by taxation, in any case, is
exPedient for the welfare of IN, country,
and am morally bound 10 vote for the
levy. Aud it it could be proven to me
that the payment Of the bonds, under con.
s!deraion was necessary to promote the
welfare Of my country, should feel NOR
ally bound to use all proper means for
their payment.
We are no; morally bound then TO con.
suit the interest or welfare Of the State
creditors, but thc interest and welfare Of
our country. Is it expedlen, for Missis-
sippi 20 oppress her citizens, with taxes, tc
pay those bnnds4
Those who view the matter on Brandon
Bank principles, and think that they on
to be paid for the present, in order TO sci
more, get more money, improve our STATE
aud grow rich on credit, VIII probabll
n answer, yes. But those who believe ha
c the bonds already sold, has proved a curs
!, 10 our sia:c, aud that there is no prababilii,
!. that the sale Of State bonds viii ever iuri
,,s out otherwisa, will answer, no.
: Mt. v. Il. Howard seems 10 be tuII