Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-01-09
" REPUDIAT1oNo on III, No,io,o, c,o,..,,r .,u.as

" REPCDIATION" the National Character abroad
Pror TO the Jackson and the consequences of bank
uptcy and reputation which have been the necessary r
iec OF the legislation of this Country when ignorance was
NJ tie hcim and Demagoguism the prow American
IT, the civilized world through stood TO that of England
in universally of recognition and in dignity The honest
and punc'ua discharge OF the foreign debt incurred at the
Revolution and again in the second OF Independence in
ISL had exalted the reputation of the young Republic for
honour and good faith, to par with that of England her
se the mirror OF punctious public faith, and answering
integrity IN pecuniary transactions.
How does the stand Roio2 Need we saw Need
we state that American Credit annihiated in Europe
that the American scoif and dcrision-,hat the
sins OF the few visited upon the many and that Rem
didtioH the crime of section, is imputed To the whole
American people
Have the WINGS done this ? We should be glad 10
know of Loco Focoism
Nh Peabody, distinguished American residing in Lon
don, thus writes J. ]. Speed Esq on the subject Of
American Stocks in England. We quote from the Bati
more Patriot:
He says: "Repudation,' first sounded in Mszissipp;
and echoed in Indiana, has, the short space % few
months destroyed that noble character for patriotism and
honor which country has sustained for more than fifty
years; and Europe our once proud republic is now n
referred 10 dcrsion, spoken Of to be compared unf
Vorabty with their own forms of Government He goes
on TO observe that public disgrace Is each ctzen dis
honor, Americans who have sensitive feelings regarding
their national character abroad will derive little pleas
ure IN visiting England, France Holland. He further
observes is not the PRONUNCIATION of the principle
I'm two OF three States than the apathy with which repud
ton viewed in the other States that has produced here
the feelings which have named When McNuu propo.
ed this shameful doctrine had the President Of the United
Staies-hc Congrcs-the Governors and Legislatures of
other SlIesadcd by the respectable portion OF the Press
denounced they should have DONE this dishonest pn.
ciple in the energetic language contained in your letter
the honor OF Republic would have been furnished
nor the nations credit prostrated and the refusal
oi European capitalists TO loan five millions of dollars nj
they ola
at four and half per cent. per annum.
An immense amount Of American State Stocks is in the
hands OF wdows-of orphnnsof retired officers from the
Army and Navy, and persons in moderate circumstances
who, in consequence of the default our States to nav
their interest, have suffered most truly distressing
The great Mercantile Houses thro' whom the American
securities negotiated and who recommended them TO
their friends and correspondents with the most implicit con
hdence, real pretended in their security have lost caste
with the public and have suffered constant modification in
the constant applications made know when defauine
states would pay Dividends whether their bonds would
be epudiated. Al this time' says Mr. p. so much ss
pcion reefs the credit Of every who owns American
stocks, that all private bankers Whose business depends
on public conhdcnce) who do So make il
point tolei their customers know that they are not hold
eTs Of those stocks