Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1843-06-10

t'N+~
ground against han. The people might look il
the next number Tor account OF his speech L,
fad that speech mlsrepresented aud faisifled, an,
himself siandered. The press was in a dreadful
condition, and be was sure no man looked IN po
htIcai paper for the name OF u nominee or candi
date for any Office expecting 10 lind the truth spo
ken OF him. His confidence was IN the nieli
gence and virtue Of the people, who would no
be msled by political leaders and party hacks
lie was no; thus TO be driven from his principle
his reason should no, DO feitered an its dome-he
would persist ~ has course-like the old woman
that was thrown into the weIl-he would cry
rams horns," if he died by H.
His respected opponent had declared that there
were but three methods OF exiricatIug the STA Ia
from her difficulties. Taxation drect-repudia
tion-and assumption of State debts. Gov. Bug
ger protested against Taxation aud Reputation
he spoke of The advantages Of the Cost Johnson
plan, though he refused 20 comm, himself IN its
favor. Mr.. Bradley tho Wing candidate tor Lieut.
Governor, defended and shouldered the whole
plan. Mr.. w. thought he might declare that
his opponent was in favor Of this assump ton plan
II thero be- three holes in the fence, and the far
mer stops but Two, the hog runs through the o,h-
e. Mr. w. meant no disrespect 10 his opponent
the farmer represents Gov. Biggor. But TO the
plan Of assumption, he had sc rious objections.
This plan proposes to issue government siock
| 10 the amount OF 100000 doliass-being
nothing but promises OF the General Government
TO pay the States much, with such rate Of
interest, TO be distributed among the States accor-
cing to tho federal repro sen;ation THIS was
merely substituting ono debt for another. Like
the old man who sy mpa thized with his mare, as
he riding 10 msii with a heavy bag Of corn :
ITo distao1nied -shouldcred the bag himself, end
ia this trim RENOVATED. THIS IL assumption I;
(Iaughter) The mare was quito as tired when
she got homo she would have been under tho
old syston, aad the old mans buck almost
broken.
l.. III Stut, ~ in
deb,ed at all, it gave large sum Of these stocks /;
TO others, whose debts are iarge--scry little
Louisiana with representation in Congress Of
four only, owes debt of S2} 100000,
Indiana owes-say Sl5.000000. Her proper
tion If this distribution is $4,000 OOo--leaving
debt of s. ,0eo 600. How shall! this be disposed
or By direct taxations
Bot how il HE General Government 10 meet
this daai' How pay tho iatefess, which Is So.
000,00 yoar' /, was supposed the land sales
would Do sufficient TO meet the interest on these
bonds. To be snre, on ono occas ion, the land
sales weutup TO S25 900, 000--but this Yves IN
the day OF unnatural excitement. Since then,
tho sales had sunk 90 and half millions
M w thought that 100000 per year was
as much as could DO relied upon, and this sum 10
needed to sustain tho General GoveYnment.-
Nothing could DO derived Ion this source to meet
this interest.
The administration Of Mr.. Tyler has been 60
ing in doo, at the rate Of 3l0.000,0oh per year.
This makes the sum Of deficiency yet to be rails
&C SlG,G00,000 This mus, be raised, and IT
the debt be incurred, will be raisedb By direct lex
alton Hero then will be distress, when tho
State marshal ind his deputies TO every log
cabin TO seize the poor mans necossares and sell
them 10 meet thus dob, 10 tho Government. The
General Government would give no relief laws
no siays--po apprsisemsn,. Tho property
must 20.
Mr.. W. asked tha, his remarks might be re-
~cJ. ha oat -ha unuty warned his
friends against the adoption Of THE plan.
The proposition Of Gov. Bigger did not prom
$50 ultimate relief The Governor was opposed
TO reputation. This plan OF Mr.. Johnson's
proposes 10 substitute tho Government stock,
drawing 3 per cent interest, FOR State Stocks
ranging from 3 10 T. Was ihts Tepudiationf-
No. Why? Because il is voluntary arrange
menl entered into by all parties. II is driving
bargain. II Mr.. w. driving bargain, he
would endeavor 10 get better bargain. lie had
plan to propose.
But some we're urging the plan Of Mr.. John-
son, or some other, the ground tina, unless the
debts were paid, we should DO driven to war with
Britain. a pretty principle Tor an American Cit
izen, to urge the payment Of debts through fear
Of British bayonats Such men have iivers as
white as a cotton handkerchief. 10 would whis-
per % such men, who fear tee crazy power OF
England ia her dotage, when ia her prIale, This
q feeble cciony bad th.aried and hum
bied that proud State, he would whisper prn~
cipls of international law, OF which they perhaps
had new er heard before. These States have not
the trsaty making nd declaring powers; their
debts to foreign people regarded in the light
of debts Of individuals; and Lord Aberdeen, the
British Minister for foreign affairs, had already,
10 answer TO 80 application Of bond holders, do
clared their claims were not proper snbject Tor
negotiation. We have nothing 10 fear froa Err
fish steam f.ga,es and Paixhan guns, % this
score.
The rnen who are clanoring through the coun.
try, asking for the payment of State debts, and
reproachng us with being rePudiators, are the
very men who are never IN the na0it OF paying
their ogn debts.
Who are these bond holders Ia whose favor go
much sympathy is aroused7 They are Jess--bro-
kers--rich capitalists Of EaTope. They have bo't
them a, 20 or 30 cents on The dollar; and now
they are demanding the pay. Let tho Govern
nsnt substitute her bonds for these and they