Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-03-02
AMERICAN INDEBTEDNESS.

AMERICAN INDEBTEDNESS.
Under this cap,ioa u late nUmser o:
the London Spectator has the following
remarks
Several letters have appeared in The
daily papers from holders Of American
Stocks urging the British govITnmeRt to
lend its aid, AT first by remunstrance and
then by more vigorous measures To
wards the recovery Of their claims
That suggestions of this kind should &C
caSIonaiiy appear, cannot be mhtter oi'
surprise when we consider the extent OF
the injury sustained: bat IL is To be re
GREETED that Ifel -ho AID find insertion
ia our journals without one wcrd of cor
rcc!ion,and thus go forth the expression
Of public opinion. At the Time when
these persons parted with their money,
they were 81 iS6ej with the m"rc prom
ise to pay of the respective governments
to whom 1t was Ient Tley acted upon
their own estimate Of the value Cf such
promise ;and Ilthat estimate was CHROME
oJS,they must abide with The consequent
loss as the- wsu'd conIcntly have taken
the profit il il had tufncd out to be cor.
rect. IL the British government is TO as
sumo the task ofcullecting the d BITS due.
TO lis SUBJECTS, il will De proper that ITS
opinion should at leas, be asked before
those debts are permitted 10 be contract.
ed. Had il been consulted as to the pro
Priety Of stalking the peace of The world
upon the good faith OF the State Of Ar.
kansas or the territory OF Florida, il IS
probable that some Of the present claims
would never have existed. Money len
ders would fluid litll- difficulty in dIspo-
sing OF their capital, and little need for
clrcumspection, if they could wreck .eSs-
ly part with II 10 foreign states under
the assurance that Great Britain will at
all times step IN 10 enforce the punctual
payment Of their dividends.
We believe that the feelings expressed
IN these letters arc shared only by We
ry small minority Of American bond hol-
ders; and il may be we'll 10 intimate TO
the wriIers,apart from all considerations,
the injurious effects which they a. uSt in.
evitably pro luce upon their own inter
eSts. One moments reflection will teach
them that II would be better for Great
Britain at once TO pay their demands
LON her own treasury, than TO rush in
TO war. which must involve the immc-
date OK pendture OF a far create r amount
and eventual under the most fortunate
circumstances, leave the matter in
somewhat worse condition than in.
which 1t now stands,-namely, with the
promise TO pay off nation exhaust d
by war and exasperated by b ows instead
of the promise Of the same nation in
prosperity and friendship. 1t is cvi
dent, therefore, that their appeals can
have no effect upon the British govern =.
meni, and II -cnty remains To inquire
what cH-cis they are likely to produce,
upon the indebted States OF America -
In regard 10 those States there can be
but three points f,relance.-frst, their,
lntuiuve sense Of honor; second, their
sense Of pride and hope of future credI:
third their feelings Of regret at The mis-
cry which must be inf cited, by their de
lhIcatIons upon those who have sho ~
confidence in their faith and a desire 10
promote the prosperity ortheir country.
On the first alone, it is evident, no SUI.
hcIent hope can DC grounded. On tn,
second and third, the great chances oC
their creditors rest, and no more certain
mode oil destroying those chances could
be found than that whch has been pur
sued. by denoancing the American peo.
pie as incorrigibly dishonest, we lead
them 10 he biref that it is now too late
10 take any step by which Their prize or
their credit can be restored, and that
matters, therefore, cannot be worse
whether they pay or not; while by our
threats OF resorling 10 force, we excite a
spirit Of dislike that must eventually
prevent them from looking with any re
greet upon our losses.