New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1841-11-25


were dealing with men who had right to sen anu
that the bonds are now held by foreign CAPITALISTS
ybo have maid far more for them than they are
.o-,L :; seems TO Us that the talk OF the Argus
.ho,, ~, Bank. cotton speculations, stock gam
bI.-. &c. is very poor excuse for deliberate vii
Iany
Just look a, this natter Here are Five Millions
Of the bonds of the State Of Mississippi, issued
under the explicit authority OF her Legislature, ex-
ecuted by her Governor, and now in the hands OF
undoubtedly innocent and unsuspicious holders.
These holders say the STATE, Pay Us the int
res, on your Bonds The Wings, without excep-
ton respond The debt va, unwisely contracted,
but it is morally binding, and we must pay il"
Loco-F ocoism steps forward and says, Z" No, we
will never pay cent OF it. You hare on our
bonds the endorsements Of two 6rokea and in
sofvent Banks LaOS to hem" 1. not This add
ing insult to injury'
The Argus asks Z" Why are not the denunciation-
of The Tribune poured out on the managers of the
Union Bank? Because their guilt or innocence
is nothing compared with the spectacle OF State
repudiatin. its debts. They MAJ have acted dis
honestly; and they have certainly been guilty of
lending the money Of the Bank to those who can
not repay it, and Who by voting the Anti-BoSd
ticket, have shown themselves nsslyent in NOR
ais as in money. If thy have exceeded their
authority, if they have acted dishonesty, let the
State punish them most signay. She has courts
and laws, and prosecutors and prisons But let her
at the same time set an example of honesty her
self, and not send daily to the penitentiary for
acting on her principles.
The assertion of the Argus that the struggle
on one side has been to screen me directors, stock
holders and borrowers of the Union Bank if j;
refer to US, is a mean falsehood. We have said no
word intended to screen them. We have no OBJ
lection to see every one of them in the Penitentiafy
who in any sense deserves ii. We neither know
nor care for one of them. Our only soicitude is
for American credit and American honor.
The Argus says that tue People OF Mississippi
" were deluded with the syren song that the Union
" Bank and its stockholders would not only pay all
- the moneys borrowed on the credit of the State,
' but that they would supply the State Treasury
. with loans and dividends TO large amounts be-
sides" Certainly: every body was be made
rich by the operation and rrhilc twas thus promis
ing, the scheme was very popular-just as in crc-
ating the State Banks Of Alabama, Illinois and
NEUTRALITY-SUSPICIOUS. of which has ever beer Wing
based upon the credit of the State. But the specr-
la,ion has turned out an India rubber one, and
now Loco-Focoism cooly turns round, and says
Messrs. holders of our bonds, collect your pay
cut of two rotten, nsovent banks, whose
ayers, we tell you frankly, beside being bank
"rupt, are the greatest scoundrcls alive" We
call this doing business on safe principle
The Argus fecitates itself greatly on its associ-
alton with the " twenty thousand ters Of the soil,
who have voted not to pay the State Bonds. The
iillers of the soil of Mississippi negroes, who
we believe have too much honesty to vote an
Anti Bond ticket, and who certainly have not de-
served this cruel imputaton on their character.
We happen to recolect that in the summer of
1910 the Loco-Foco journals boosted of a certain
victory in Mississippi, So great was the emigration
going on of bankrupt spectators, .winders, black
legs and loafers from that State to Texas. The
ldes of November showed Wing majority of2 800
and Wing gain of 1000 from the preceding year.
We apprehend that the current has set less strong
y toward Texas the past year.-At any rate, ii the
Argus is proud of its fellowship with the twenty
thousand Mssssippians whe have voted not to pay,
we are not less proud of our alliance with the
eighteen thousand who have voted TO pay. And
does not any man see that if this debt had in truth
been illegally and frsudsently contracted, and
not binding, it would have been impossible that
great party should rally one man in favor OF It's
payment How much easier to make forty thou
sand voters believe that they ought not ,san that
they ought to pay heavy debt for which they had
realized no substantial consideration The path
Of honor and duty is often diverse from that of
and convenience. Yes, proud OF the Wings
of Mississippi, and the Argus is welcome to is
twenty thousand conedrratcs and their common
victOry
vERMosr-We observe in many of our cx-
changes statement that in the Senate of Yer
mont. AT its late session. resolution was offered