The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-09-28


So that in IsT0, there viii be a surplus in
the treasury Of I,o5o,ooo dollars, and only 5oo-
600 dollars on account Of the Planters Bank,
which falls due the following year; SO that after
that is paid there viii still be half a million
dollars left.
The foregoing calculation is made that the
people may at single glance see, with what
ease to themselves the bonds Of the State can
be extinguished, and the character and credit
Of the State be redeemed. The people have
only to viii il, and It will be done. We have
puposely, IN ths preceding statement, omitted
al means ofliquidating the bonds but taxation.
We did this to show the utmost extent, the
extreme limit, (supposing AL other sources
should faiD TO which taxation must necessarily
be carried 10 ehectuate the object intended
And what is the RESULT Instead Of the ruin
Gus and destructive Tar with which the people
have been alarmed, It is demonstrated, that the
average Of half Of one per cent on the value OF
a mans property, will be all sufficient. without
resort to any other resources which the State
IN the mean time may acquire or possess.
II any thing is realized ir0m the stock in the
Planters and Union Bank, IT, together with
the proceeds Of the sale Of the public lands,
which may hereafter be received, can be ap-
piled 10 the extinction ofthe principal debit
tfCongress should grant to the State the lands
petiioned for by our last Legislature, upon
condition, that the State'should levee the bank
Of the Mississippi, this will, Of ITSELF 10 all
probability, produce fund sufficient to extin.
guish the whole State debt; so that it is pFoba.
Die that the moderate rate Of taxation above
indicate vi oaly heraqnirsd portion Of the
time-s s0ue ioa y aps n the succeeding
years,
herself to her integrity. and ne hhheflo spot
less character Of the Union, Dy immediate ac-
ton, to do Justice to those who have trusted
10 her good faith and honor. II the people Of
the State are true to themselves, their best
and permanent interests, hey will elect TO the
next Legislature majority Of men, who will
boldly carry out these honest and just views.
We recommend that aw shall be immeda-
tely passed apportioning the States liability
for interest n0D due intoannual instruments
that to meet these instruments and the inter-
est which will annually lccrue on the prinei-
pal debt, and the expenditures Of the State,
the present rate oftaxatDn be doubled that in
The details of the law, such guards may be
thrown around the Office Of collector, as will
most effectually prevent loss and that such
provisions may be Introduced as will most
certainly cause all the axabe property in the
State to be assessed atits intrinsic value.
Let a law Of this kind be passed, and the
credit of Mississippi vii be at once restored,
lffrom unforeseen Gauss, the revenue should
fail short few THOUSAND dollars in any one
year, her warrants issled to supply the tempo
Tary efficiency, win thm be Of par value, II
such law is passed-if such a system is ad-
opted,who would not ie proud to be a citizen
Of Mississippi. She viii then proclaim to The
world that although Trough the acts Of polIli.
cal denagogues and evil cOunsellors, revolt
ing principle was mOnentarily trumphantyet
that it has no abiding place in the honest
hearts Of her citizens and that the principles
Of enterna justice, re0ing as they do upon the
divine command, adounto others as you would
have Others do unto ,Ou," is not only appre-
ciated and felt, but acted on BY the people
ofouf State, and that however great an insx-
haustible her peculiarly resources may be
however rapidly hey may increase end
multiply hereafter, they shall all be exhausted
before Mississippi will degrade by her exam
pie, the fair fame, and mistaken integrity OF
the American States.