Lexington union. (Lexington, Miss.) 1838-18??, 1841-11-27

bonds is the worst, and should be wholly
abandoned This system has involved
the Safes in British debt OF near two
hundred millions Of dollars, for four iNhs
Of which, asour tables Of imports will show
we obtained nothing but foreign goods,
wines and silks, brought in by "A system of
false and delusive cretit, creating IuXuri-
ous habits, Idleness and eXtraygance, and
a living upon money borrowed on State
bonds And now what is the consequence?
Why the goods are used, the silks worn,
the wines drauk, and there remains for
eign debt due by the States of near two
hundred millions Of dollars, eXhausling the
country annually OF Twelve millions O!
specie, to be ground out Of the people by
ruinous taxatloa for the interest alone,
leaving The principal undlmlnIshed as II
perpetual mortgage upon all our industry.
Aud thoS II is, that the products Of our
labor are made to support The subjects OF
the decaylhg monarchles Of Europe,
whereas, It no loans were made, their su.
,perahuudlnt capital would come here for
Investment IN commerce. agriculture Or
,nann'actl'eS' ana '"oSe VINO mus mere
invested the money would come with 1t
and become Anne. lean citizens. lreivIct'
at The landing oil em'sraniS upon our soI'.
give acordIal welcome to tue honest, IN
dusIrIous and patriotic German, to the
gallant countrymen of our cwn Lllayele
and to the liberty loving lrlShman, who
is an American republican N prncIpIe
before he leaves the Emerald Isle, but as
Tor thIs system OF foreign loans, Inlroduc-
ing likeness ana extravaganza, 70 De sure,
" 'o''owed ny rulno'S coh'uIsions ard
eXhausllnS taxation, wish that an ocean
OF lire separated, ~ that respect, Earope
from America. In 1881, published over
my signature pamphlet, winch was
printed at 'he time III The J'lrnas OF the
dag, III WnIch opposed The creation OF
the fhnters Bank OF MIs5lssiPPI, because
1t was the commencement OF policy as
there stated "6y ~h'ch nc state from
gear TO gear roatd De cursed 1oHh ann,
me"dble 0GHES, appreciated currency,
ana bankrupt PeoPSe'" and also, because
by the charter, 'Me property OF trery cit-
l2en as rrtadHy nlortsGgcd 6y The LeglS
tafure an obtd1a'ag tie loan on the credit
OF me >fatc, 10 TedeeW me 0mo"ht run an
Iicre$t, IN certam coa'hSehcy' W IAAEs
ter'e1 on me people 81 MG c'"te' Ihese
predictions nave all been 'erIh'o, ana
Wheh ~ 1905, we supplemental chaFleF
OF the unl'n hank vas granted, ProVIu-
- Tor me sale OF I'VE millions OF s'a'e
bonus "l'hout me security oi mortgages
ano s'ocNno'uers' as required ny me OIL
Ig'nai ac', my oPPosl''oa was oecldeo' my
refusal to subscribe Tor or take any portion
OF the stock was well known, and IN 1859
my dIsaPprovaI OF the whole system, stands
recorded IN numerous Prlnted addresses.
Ana now that the evils are seen by all,
will we grow wiser by experience, and
insert clause IN our constitution, Prohl6.
tNg the pholc business of bond and bank
making IN future? Ia the first OF The ma
uonaI bank charters OF the wings at this
special session, the bonds Of the natlon
might have issued for thirty eight millions
Of dollars for foreign loans 10 establish The
bank, all Of which, il The bank failed,
must have been refunded 10y ranous tax.
, alton, yet, wher was authorised to pledge
, the faith Of my constituents for the re-
demption of these loans? Let it be OBJ
served, tina, whilst the whig, of our State
would censure me for refusing to pledge
the faith Of the State for the redemption
orthirty eight millions of new bonds &c
create a new bank. thew are. as | under.
f stand. now nroless, no 10 he opnosed to inc
original noIicy. by Which the faith of The
Sale was oledoed TO redeem tae five mill
,o,s of ITnion Rank honds. If;t no NH.
-, 49, 49,