The Illinois free trader. (Ottawa, Ill.) 1840-1841, 1841-04-16
The T,ond Comfy Repudin,or,.

The Bond Connty Reputiators.
AS was to be expected, those unprinciped de-
magogucs of Bond county who, some time ago,
got up meeting in favor of rcpudiating our State
debt are receiving their just deserts from all
quarters of the Union. We can scarcely open a
paper democratic, wing, or neutral that does not
condemn, in the scvercst terms, the disgracclul
doctrines they have avowed, and hold them upas
fit samples Of the highest degree OF moral and po-
litical depraviy. To this we have no objection.
We are perfectly willing that these contemplate
dcmagogucs should receive all the castgation that
public delesaiion and the press can inhc,. But
many of our contemporaries at a distance appear to
have wrong idea OH this subject. Because a
few demagogues in one county in the state have
had sufficient impudencc publicly to avow such an
odious doctrine, they seem to think that there are
many others of our citizens who hold the same
opinion. But to our citizens generally such
belief is in the highest degree unjust. We ven
ture to say that out of Bond county it would be
extremely hard to find one single bona fde citizen
Of Illinois who would risk his reputation by
ing such an odious doctrine. All agree that, as
the money was borrowed by and expended for The
state, every cent of both principal and interest
should be promptly paid, and are willing to make
any sacrifice for that purpose.
To argue the question seriously with the au-
thors of the Bond county memorial, whether
our representatives had the constitutional power
to create public debt, and pledge the faith and
credit of the state for its payment, would be vain
and unbecomng task. The point has never been
disputed, and if il ever had been, the moral obi
CATION of the state would DO no less certain,
The fact is, we are bound in honor and law to
pay our honest debts, and we can do it. We are
by no means so deep in the mirc that we cannot
again get out Our financial affairs are, God
knows in a condition miserable enough, hut il is
certainly more owing to bad legislation on the
subject, than to the want Of ample means to cx-
tricate ourselves The experience of the last few
years has proved beyond cavi that the means at
the disposal Of the canal, if managed with but or
binary discretion, will be sufficient not only to
meet the annual interest on the debt until that
noble work is completed, but will also be able to
create a respectable sinking fund for its ultimate
liquidation. Thus, then, one third of our state
debt will never be burden upon the people As
to that portion Of our debt incurred for the crea-
ton Of banking capital, as its osensiblc object
was to extricatc the state from its difficulties
presume no one will doubt but that it will be able
ut least to pay its own interest The only portion
of our Indebtedness, them the interest Of which it
will, at present. be necessary to NEE, by taxation,
is the rail road debt Of which the annual interest
at the most liberal calculation, will be but $780,
600. 1t Is an insult to our people TO say that
they would prefer disgrace and contempt to pay
ing such sum. Honorable men are shocked at
the idea Of repudiating our whole Indebtedness to
avoid it.
What Object the authors of the Bond county
memorial have in view, we are at a loss to know.
lfthey wish to gain little notorieiy for them
selves, there is no doubt but that they will get
IT, and to the fullness Of their wishes. If their
object is to nure state credit abroad, that, too
they may in some measure accomplish. But
there is another thing they will do, and though il
may not have much weight with them, il has great
weight with all honorable mcn-and that is they
will bring upon themselves the scorDsand con-
tempt Of every upright man in the community.