Holly Springs gazette., 1843-09-22


sl,-, upon condition levy is made 10 drain
5em. This Iuter source Of itself will more
han ply the deb,, when the lands are re
climcd.
From the Statesman.
We publish this week, the conclusion Of
VIZ. Shcl:on's mathematical argument. In
Nat argument. many facts impar,aGt to the
proper appreciation of the bond question are
demonstrated
First That the whole interest now due,
a-I that shall hereafter accrue on the bonds.
mly be plfi by an ad ii.oual tax, amounting
only to oae-cigaIi Of one per cent. on lhr
uzi0le property of the state; that Is. t1reire
a.i half cents on erery Hundred dollars
uri5 0f tGrabie property.
Second That the tax may and should be
imposed, not by an increase OF the poll tax,
L1r by an increased tax on the property of
the poor man, nor of him who is in mOder-
ate circumstances, but upon other property
belonging 70 the one OF the other of three
cIIs5es--the nonresident specuiator IN land ;
I1e luxurious nabob and the rich cotton
planter %
The effects Of the state independent Of
The taxes) available for the payment of the
SI000,0O0, the principal of said bonds.
amount 10 about EIGHTEEN MIL
LIONS OF DOLLARS, a sum nearly
tarice the amount required
Fourth We think that. with stating the
conclusion. Mr. Shelton has demonstrated
that these SlS 600. 600 of assets may be used
not only in payment Of the principal of said
bonds, but also the interest thereof SO as to
discharge the whole of the debts. both prin-
'iPal and interest, without Increasing the
txes single dollar
Filth tle has demonstrated that with
!aese effects Of the state it is practicable to
discharge the bonds before they shall be-
come due
Allthese il will be seen. are very impoI-
@at conclusions, and If correct, must dISsl-
pate the fear Of intolerabie taxation. which
'ae regulators have So long suspended over
ne people mississippi Ii figures are true.
'nese conclusions must be true, for the argu-
mems used are not Hypothetical, but mathe
Hiai'caL The argument is itself nuaas fesr.
as's and when it is remembered that MIR.
suction seeks no Office. never has sought
Sae = no politician nor partizan. that there
ore, ne al least has no motive for deception,
20 ositci but the good of his country, that
y publishing them rs mathematical demon
s'aaoas, be stakes his judgment on their
e9sec'nesS. subjects them to the scrutiny OF
slant partizan leaders, who will doubtless
SINE correctness OF every conclusion there
Iu demonstrated, the argument should and
.'SS drive the repudiators from the only
'~idaoie position they occupy, to wit:
.'e sale inability to pay without oppres-
I've taxation. The utility OF the argument
INSISTS IN us attack upon that position; let
ue people but read it, and before Novem-
'ne cause of frepIdiation will be deserted
i, X hhe-tenths of its present adherents. No
- ing out the fear Of fself-destruction prompts
.s people Of Mississippi to tolerate sor
aomeni doctrine so odious as the repudia-
~ o. public debts Hitherto we have been
-es every turn with the false assertion.
psynens would impoverish and
nv, ,rp'ess our people; henceforth the effect OF
A. assertion is annihilaied. it is struck
4u nom the hands Of the repudiatcrs.
mn SKELETONS CALCULATION
CONCLUDED from last aOssk)
II -