Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-10-13
From be C.neinaali Gasslte !.
State Debts.

shall endeavor TO spread the substance
OF it before our FeRders-ior this is a
subject which ought TO be honestly con.
sidered, and fairly treated by all men,
We observe with regret that por-
tion OF The partisan press, opposed to us
10 politics, are seeking to bias the minds
oil the people oB The subject, by declsr-
ing that those who advocate State relief
are for an assumption Of the State Debts
by the nation. This is no! correct, and
they ought to know it, and, fortbe most
part, do know it, There is no such as :
sumption proposed. /, proposes simply
10 apply common property, belonging
TO ell The States, in payment oftb debts
OF the States. Yet this fact, and all the
facts connected with the history OF the
past, are suppressed, while the people
are told that the measure is unconslilu
iIonaI and that they will be highly tax
ed II it be carried out. Disngenousness
like this ought not to be practiced by
editors, or tolerated BY their readers.
Let US look, however, at this very
question Of assumption. What are the
facts as recorded in our hsiory2 In
1890 the States owed t,renty one millions
of dollars They were embarrassed
with this debt; they could not pay it,
The patriots Of that day took counsel
together; they found that the Govern.
mont owed over 6lty'Six millions oil dol
larsj they knew that The population was
small being less than ne.fIlh what ii
iS now; and yet, though just out Of the
war, and deeply embarrassed, and hav.
ing in every way only limited avaia-
bic means, that this Shoud bo ASSUMED
and PAID by the nation. And it was
done. This was under George Wash
inglon's administration. Again. In 1902,
an Thomas lefferson's term, The nation
assumed something less thar three mil
lions of dollars, due British subjects,
and paid it up The facts were these
Our respective Governments had agreed
in 1888, by treaty, that The creditors on
either side, should collect whatever
debts might be due them, This some
ofths States refused 10 accede 10. Brit
ish creditors could not collect debts
10 consequence Of the Slate Legsa-
lures having passed laws expressly TO
defeat them. The moment this was
discovered, our Government at once as
sumed these debts and paid them in full,
And are we 10 be told that what George
Washington urged, and Thomas JeGor-
son did, on this subject, sanctioned as
their acts we're by the great and good
men who filled the councils OF the na
iiOn in that day, are anli.American-
anti democralic2 Alas! that beardIess
and selfish demagogues should aspire
10 teach Us cur duty when such guides
can be found!
But what was the motive which inhu
enced our Fathers while yet The nation
was young aud in debt, aud though Wig
OrOus, yet poor, TO take this slepP IL
sOaS TO preserUe The nations faith, We
had character 10 make then as we have
one 10 lose aOw, and they did not laIter,
rs We should not, TO pay the last cent
principal and interest, of all that we ow
ed TO any foreigner. And what follow
ed3 Why that the prompt payment Of
these debts gave US credit abroad, and
courage at home; that the embarrassed
States rose al once, or soon, into thriv'
ing, active business; and that so far
from increasing The burdens, OF taxes
of the people, it relieved the whole na.
tioD, gave TO ls industry and its enter.
prise new start, putting both upon q
trueT, frmer basis. II is oil mistake
10 suppose, on this subject, lhut one part
ofour country can suffer, and another
escape, in pecunlary matters, or in mat
tore Of character, Is Mississippi pros
trats in credit The East feels it Ss
we'll as her own people. Does Illinois
pass stay. laws under the false idea Of
protecting her people, or is her public
debt so large that she cannot payf Her
suffering extends TO us, and we cannot
help It, Has Pennsylvania repudialed
actively or passivolyH The blow which
strikes down bsr credit affects immo-
dlateIy the credit Of The whole country;
and II cannot end ought not TO be other
wise; and hence it is, that upon a dollar
aud cent calculation, in one and all Of
tho cases put, it would DO better in bu
siness or economical point of view to
tho whole poople--if the nation were Of
once to assume and pay on these debts.
The history Of tho past, and common
sense alike declare this TO be the true
course TO protect our honor, aud ensure
our prosperity.
Fortunately, however, we arc no.
driven to The extremity either Of assnm-
ing The debs Of tho States, or Of taxing
the people in any way to meet them
We have--thS States own common
Al l. u