The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1841-10-19

pany, when those corporations have failed
10 comply with most solemn engagement
TO the boad holders and the State?
Il is the duty of the State to put those
banks forthwith in liquidation, for ii is ad.
miIed that they cannot longer continue todO
an advantageous business. 1t was asserted
bv some OF the officers OF the Union Eank, a.
The meeting of the Stockholders for the cleo.
! lion OF directors, that the profits of the bank
never could pay expenses and the interest on
The State bonds. Such being the case, the
sooner it is wound up the more il will! pay.
! The liquidation OF the bank would at once
save an immense expense 10 the State. 1t is
also manifest thatthe assets of The hank could
( ne much better managed by commissioners
! and would be safer than were they now are.
''rhe assets the banks, may, perhaps, by
good fortune and proper management, pay
nearly the whole deb:, W. may be able, from
! other sources TO discharge it without great
| difficulty. All men will admit that the assets
of the banks should 20 to the bondhclders,
/ even if the bonds were not legally negOtiG'
! ted"
| Mr.. Howard's views upon the subject Of
the effect of this anii-bond crusade upon the
COTTON TRADE OF the State is precisely that
who have denounced our views upon this
subject as Vtiggsry, we recommend Mr..
towards remarks.
"Another question presents itself. If We
refuse 10 pay these bonds what will be the
| course OF toreIgn natoins whose citizens are
| ne holders or them! The United States has
uore han once threa ehPd war on account
ii tie nom pa menL OF debts due her CitiZenH,
10y foreign powe rs. according to the tGW Of
Hatt0as, II could be just ground for sSGr-G"G
tue Consequences " retasGt '00utd oe, thai re
pTISdis tOould Ce made, Gad our cOttOH seiEe6
az fore gu ports. The prospect If such state
Of Inihgs tCoutd, for gears, GDect the PTtce Of
our staple, both at hoRle and GbrOGd. No one
tOoHtd sap cotton from .MtsstssiPPl, With sueA
RISKS ha.4gtng Deer Il. The selzusge Of prop
e1fg tOJAtl De ne most erpeHsiUe payment thG
State could suUer, and gould involve In rWiR
the JelO, ptsIea4 " bearing equally upon ell
I'ae c4tdHssttes. II sIch state Of thugs I0OuIa
be Ltc0acetUaOIg. ~e-a--@--
Ii rep.isals were not resorted to, the Fed
erai Government would be called on TO pay,
and IA case OF a refusal, perhaps the whole
Union would be involved IN war. IL is easy
10 toresee 4hat the refusal ut few States "a
pay their deblS, Will lead TO an assumption
OF ali the Stale debts by the General Govern,
! tlI0lts III TIE event VI SuCll d I1ledSdISS tuN
tate OF the staple Slaes would be seated,
: Ihey would be compelled TO pay the DEUS o.
all the other STATES, Uy .Ineans OF high tariffs
; and Indirect taxation. ii may be safely as
} sunIed lnaI SucA measure ouid levy ata1
upon the DtaIe, al least i've times as grea
as .lhat which would De required 20 discharge
her own DOnds. Ne sac ala not Only be cOtn'
peeled 10 pal our own bonds, but would have
20 cOntriDute 10 THE pay nent oil the dsbLs 0i
: tother States.
If we contemplate this subject. aside from
: | Iueslio ls OF nalIohal honor, and look At Il
1nly as one of Interest, see nothing to gain,
out every thing 10 'oSt' by fefusing' 70 ackno"-
= ledge and redeem this debt. True, the pay.
0 ment OF this liability may be attended VIII
I some Inconvenience, YETI il 10 escape great
+, er calamities."
To DEMOCRATS, Mr.. Howard now especially
# addresses himself. This, then every demo
: Graf will real with avidity. It 10 sound
: doctrine. by wha;ever name it may be called
andno man can read it amiss.
e ''Democracy is political justice. truth and
a honor. For a people TO do wrong, to refuse
2 O comply with solemn contract, would bI
) contrary the very spiril ol democracy
II which is, 10 do un:o others as you would they
r should do unio YOU. Democrats should b
: careful t. pursue such a course as Will d'
e honor TO the people aad the popular sense
Z They should not, by tralnpng upon goo'
= faith and justice. pat weapon IN the hans
a OF the enemies of popular freedom.
Above all, let NOT the democratic party sac
le rifice one iota oflustee and national integri
~ upon the altar Of party success. A triunP
!. obtained by appeals to the mercenary teeing
'e Of the human heart, would be unworhs Q
a. a that great party. 1t would be but harve!
~ of dishonor. comforting no lasting power.
es would sslon commend the pOisonedchahce I
+ S their own lips" j ISL sa