The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-07-06

of Tax Paysr In MISSISSIPPI"
It is deeply TO be deplored, that the issue q
the obligation of Mississippi, to pay The Bonus
to which the faith of the public seal ls attacneu:
has been blended with questions very mucn y
a party character;--for It Is essentla'iy gIea'
domestic question. TO be decided on It's own
merits, free from the bias and extrinsic lniiu-
ence of all other considerations
But my friends, work il which way You wlIl,
Mississippi must pay. 1t IS as tunaHeraMe dS
the eternal principles of truth and justice, anu
from no other coercion than mat WhiCn d'.1cs
from her own sense of honor. In making TINS
declaration, gentlemen, do not let me Dc IN
derstood, as t.fuly recognising the reasons
for the very natural, almost excusaDie' reiuoo-
ance, with which she acknowledges the oDi'Sa-
Iioa of debts negotiated in some respects a.
variance with her institutions, me proceeus VI
which NAV have been dissPated 10 manner
highly unwise and censurable BuL entirely
apart from all abstract principles of righs II is
consonant to wise policy. having references
exclusively to an enlightened sell interest,
that she should make early preparations lor
the payment of the interest and the ultiiha'ea
redemption of the principal OF her ForeigA
Debt. No nation can subsst without pub
credit: it is the cement of social prosperity
| and national honor. hold this proposition 10
be philosophically true, and susceptible oil the
| most rigid demonstration. When therefore,
the excitement ofparty will be removed from
this great question, no man, capable ofform-
ing Just estimate ofthe resources OF this State
and of the spirit and liberality of her people,
can hesitate for one moment IN believing,
that not one member of this Union will sur
pass YOU in your heroic efforts to redeem
untouched your public Faith and Honor.
Gentlemen, was in England when the in-
telligence was reccived,a and the shock was test
of your failing TO pay the Dividends OH your
Bonds. | might describe to you the panic
which this intelligence produced, and the dis
astrous influence on the interest of our whole
country-but forbear. know that the losses
of large capitalists are not very apt to produce
much sympathy! but your Bonds, you vii; per-
NIT me TO inform you were sold at price
which seemed to promise high rate OF IN
terest: they were therefore purchased IN
Europe by persons in moderate circumstances
seeking In this way an augmented income
by disabled half pay officers, by comparatively
destitute widows, and by trustees for orphans
in no wise in better condition. The state
ment of this fact recalls to my mind a clrcum-
stance which occurred shortly after the news
reached London that the Executive of your
State had declined recognising the validity of
your State Bonds. happened TO step into
the Office of friend, highly respectable
merchant of London, where | met gallant
officer of the British Army, whose acquaint'
ance / had had the honor and pleasure prevl-
ously TO make. He informed me that he was
an unfortunate holder of Mississippi Bonds. He
remarked, 81 shall carry to my grave large
deposit of American Lead, which | received at
the battle of Chippewa, where wounded and
disabled fell into the hands of your country
men. From their generosity, unbounded
kindness and humanity, / thought could safe
ly deposit with their good faith the little gold
limited fortune had still left me. saw the
seal and signature of the State of Mississippi, |
thought this enough;-but am nearly ruined
BY my confidence in your country" This gen.
tlemen, was said with a sensbIlity free from
all vituperative or querulous abuse. 1t was
said by man who stood SIX feet two, in his
shoes, the perfect and entire representation
OF the finest models of Phdias and Praxiteles.
1t was in one word the gallant Sir John Mas
sllion Wilson, who was wounded IN seven
places at the battle of Chippewa, and who
amidst prejudice and ignorance in regard to
our country stood up as her generous and no.
blest defender. Can you blame me gentlemen,
II assured this veteran, with gush ofseEsi-
biIity equal to his own, that every farthng of
the Mississippi Bonds, interest and principal
which he held would be paid, as sure as there |
IS God an HeGren; that / knew the resour- |
ces OF the State, and the character of her peo- |
pie, that this was mere panic or suspension in |
he: good faith, which had resulted from eau
ses entirely connected with the supposed I'M
fairness with which an intermediate negotia-
tien had been made for the aggregate amount
of the Bonds In the United States;-that there
was not in her people particle of lneanneSs
or sordidness;-and to hold on with infexible
confidence in his Stock.
The truth IS, gentlemen, as large as your
Indebtedness IN figures appears, it Is mere
cyphet in comparison with the immense natu-
raj resources Of Mississippi. An excise of one
dollar on every bag of cotton made in this
State, would itself constitute resource for
the next ten years for paying the interest on
your debt in addition to very moderate aug
on your land tax; whilst the reser-
vationsof your public lands, recently, I..under-
stand, most judiciously selected, would consti-
tute an uufaiing sinking fund for the redemp.
ton OF the principal at no distant period.
Indeed IN the almost incredible gigantic re-
sources our country, it is inconcevable how
light the burden of judcous system of taxa
lion universally levied and faithfully collected,
would be on;the people, was talking to one
Of the first Bankers in Europe, when last in
that country on this subiect,-he remarked
10 me there really is no excuse for your coun-
trymen IN not paying the interests on their
1eot, their resources are so abundant if they
were caleo forth by wise system ofIevenue
Now SAID he, will take the case of Illinois.
If every farmer of that rich and fertile State
we're to set part one pig only out of his stock
my dear SIR said ], know what youare go
ng to say. let me help you by way OF paren-
hesis, and brand him ani-repudiGtion,i would
bay thesinterest on her debt, because it being
IN honest pig he would be su1e to keep fat
SO said he you have hit it,and how inexcusable
s II that with such means your country should
suffer the loss not easily to be computed bv
he most comprehensive combination of figures ,
y disastrous discredit--worse in the long run
han deficient harvests and low prices But nen-
lemen. l will not run the hazard of ss9;ng
lnythlng more which can IN the great division
u parties IN your State be in the slightest de-
,ree, disagreeable to any one. I
will now avert briefly. to topics far more - ,
harmony with this august day.
Our conn:ry, my friends, like the strong man ,
arousing herself from her sleep, and SHAKING
Ter ''invincible locks" Under the conio;ns
'peration of Industry, and Economy. we are /
ising above the recent palsy, which IN dacrese