The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1841-08-28

lntamy on our posterlty, by refusing to
do what reason, conscience, common
sense and common honesty dictate
am therefore persuaded, the November
election will result in the choice of the
bond paying ticket.
Will address you one more letter, on
the subject of taxation and the Govern
.or's array Of figures.
A SANDY CREEK PLANTER.
SANDY CREEK LETTERs.--NO. 3.
AUGUST 18th, 1841
Dear Sir:-I promised in my last
few words more, on the subject of
Taxation and the Governors array of
figures" | now proceed TO fulfil my
pledge, and then | will drop the subject
forever.
The Governor, by a most conspicu-
Gus display of bis arithmetical genius,
hasendeavored to show, that by reason
of the endorsement Oh the Bonds, the
State will have to pay for Semi-annual
interest the sum OF 1922, 693 90 more.
than she contracted TO pay. and S478,-
$50 90 in principal, more than the face
of the Bonds calls for. This is paIpably
designed for political effect, aud intend
ed to alarm the fears of those who are
are sensitive on the subject Of Taxa
ton. The utmost fafthing that the
State is legally or morally bound for, IS
fUe million Of dollars, with the semi-an
nual interest thereon at 5 per centum
per annum, payable in the legal curren
cy of the United States, at the agency
of the Bank Of the United States in Lon
don. The harter has expressly authoriz-
ed the place Of pay ment, to be designated
by the endorsement on the Bonds. 1t is
therefore clear, that the money-that is,
/ $4,000 american dollars for each Bond,
must be placed in London at the maturity
Of the Bonds.
To place this amount in London, may
cost he State one per cont, or she may
do it at gain Of TWO per cert. The
price Of Sterling fluctuates from week
to week and month to month, and no hu-
man foresight can predict what will be
the rate at the maturity Of the Bonds. 1t
may be z per cent, or it may be per
cent. If we continue to import more
than we export, it may vary from 6 to
| 81 per cent. But assuming it to be at
per cent. as medium, the State may pur-
chase Sterling and remit, and with the
proceeds purchase dollars at 4s. lad, and
thus realize on the remittance 2 to 81
per cent; for the average value Of Amer
: lean dollars in London is As. Id. to As
Cd. She may thus pay the five millions,
with four millions nine hundred thousand
dollars, INFESTED In Exchange IN the city OF
! New York But if she choose S to trans
t NIT the dollars, it will berthe expense
) Of transportation, in freight and insur-
ance. This evident to every man whe
understand arithmetic, or who is a
all acquainted with the subject of Elk
change.
: Butt have word or two to say on the
: subject of Taxation, for this.is the ''raa
D head and bloody bones," that is'calculat
: ed to frighten the timd and the caution:
into a refusal to acknowledge the obliga
/ ton Of the State to pay her Bonds.
e It's my firm persuasion that neithel
!, you nor |, will ever be assessed one dol
] lar for the pay ment of the principal and
: interest of the state bonds, and. on thi
: pOlul, 1 Lntlh yOuI FEARS Hla y D0 PuI O
: rest forever. But | know there arr
0 some who entertain a contrary opinion
: and they reason thus, on the hardship'
l. of their case. 81 never had dolla
j. from the Union Cank-I never specu
n lated in their paper-I have never BEEF
Q benefited to the value of cent, by tn
5, money borrowed, and why should / b
n taxed to pay the bonds?" Now m
IS dear sir, by the same process of reason
e ing, there is scarcely tax imposed, tina
e. might not be considered hardship. En-
OF ery bridge tax that has ever been asses
1 sed operates unequally, and injurious
o. 1ly on some, for it is hardship for tn
a. people of one section of the country
er who need no bridges, to be taxed fc
n. the bridges built in another section, owe
n which hey never travel, and from whic
m thew derive no benefit. But again. Ii
Il! us suppose that one of our remote noftl
= ern counties is invaded by savage fo
n and by no possibility, could his hosti
40 steps reach the county of Adams, tn
IN to all inients and purposes we were |
d, secure as the people beyond the mcu
a tains, could we or would we refuse
ee march to the relief Of the county d
I r. L.