Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1843-08-24
The state Debt.

The state Debt.
We have for a long while refrained from saying
any thing upon the subject of our public debt, be-
cause we know it to be dsagreeable to some Of
our subscribers. But as another half yearly in
stalment of interest became due on, the Isl inst,
which has moi been paid. and upon which add-
lional interest will accrhe, we cannot any longer.
consistent with our duty public journalists, re-
main silent. We feel ourselves constrained to ask
our readers. and the community generally, this i'm
porlant question, In what will this matter end
PENNSYLVANIA owes debt Of forty millions. up
on which the annual interest is two millions, and
of which interest three semi-annual instalmen,s,
amounting TO three millions, without interest re-
main unpaid, Our Legislatures and citizens both
have frequently recognized the existence and just
ness of this debt. We have given our creditors
every honorable assurance that the claim should
be paid to the last dollar. We have also spurued
the idea of reputation; and yet, having made al
these proiestatons, we act as if we had no further
concern in the case.
This debt is u curse upon our people 1t is
weighing down energies and paralizing all
'''' >4i'i'' ~ ANSt4S AZ ONA
las biohied our public faith, and brought our
character far honesty and FrtJbity, Common
wealth. into disrepuie Our creditors, many Of
whom depended upon the punctuality of our pay
ri1enls for livelihood, have been ruined and beg
CARED, by not paying the interest on our debt
Others are shocked al our want of good faith, and
refuse 10 invest any more oi their money in our
stocks or Improvements.
We repeat in what is all this 10 terminated Do
our citizens suppose that or creditors will much
longer bear with us, when they see 50 plainly that
we are making no efforts 10 pay thefnl Whoev-
& thinks so, is very much mistaken. There is a
femedy even agaius, an Independent State, when
She refuses, or neglects TO DO what is right and
honest it IS true, pirate mdr'dual cannot sue
Stale; the Constitution Of tile United States
saves its constituent members from that degrada-
ton BGt il does not prevent tile authorities OF
one State suing those Of another State. This is
a plain principle of law, Strengthened by the de-
l.bera,e opinions of MANY Of our soundest and
ablest jurists Besides, every State IS bound to
protect the rights and interests of her citizens =
and in a case like this, where they cannot them
selves sue, their State is bound to receive an as
sgnment of their claims, and prosecute them 10
satisfaction
Is it reasonable then TO sGprose, that with the
knowledge of this fact our creditors will forever
rest satisfied with our non-payment of their de-
lnandsl No. And if we do not Voluntarily pay
iheIn, we VIII soon be subjected 10 the humilia-
ing spectacle of seeing our beloved Common
wealth dragged into the Circuit Court of the Uni
led States, by some foreign sister State or both
10 answer for breach Of faith in not paying her
dcbts. In the event Of judgment against US,
The whole power of the Union would be at the
command of the IT, S Marshall to enforce the de-
cree of the Court and all the property Of cti-
zens, and the State, would be liable to be taken in
execution and sold by him, for the satisfaction
thereof
Some Of our creditors are already talking of
this alternative, and unless something is soon
dss4e, we may expect to see them putting it into
operation VIII not our citizens then, one and
all do every thing in their power to avert this evil
Lot every one Of US take the subject TO heart and
elect good men to the next Legislature, who will
AXE sure stcps TO retrieve forfeited honor, TO
lerve our ancient glory, and to prevent recur-
eelit" OF evils, similar to those from which we are
NJ s.Gerng