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

So that IN Is7O, there viii be surplus il
the treasury OF I,o6o,ooo dollars, and only 500,
600 dollars on account of the Planters Bank
which falls due the following year; so that aftel
that is paid there win still be half milllor
dollars left.
The foregoing calculation is made that the
people may at q single glance see, with what
ease to themselves the bonds of the State car
be extinguished, and the character and credit
of the State be redeemed. The people have
only to will it, and it will be done. We have
purposely, IN the preceding statement, omitted
all means ofliquidating the bonds but taxation
We did this to show the utmost extent the
extreme limit, (supposing all other sources
should fair to which taxation must necessarily
be carried to efectuate the object intended
And what is the result! Instead of ruin
Gus and destructive TAG 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.
1fany thing is realized from 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 to the extinction ofthe principal debt
1fCongress should grant to the State the lands
petirioned for by our last Legislature, upon
condition-.tha the State'should levee the bank
of the Mississippi, this will, of itself, in all
probability, produce fund sufficient to extin.
grish the whole State debt; so that it is proba-
Die that the moderate rate Of taxation above
indicated will only be required portion of the
time-say some four or five of the succeeding
IN this State Of things Mississippi owes Il to
herself to her integrity, and the hitherto spot.
less character of the Union, by immediate ac-
ton, to do justice to those who have trusted
to her good faith and honor. II the people of
the State are true to themselves, their best
and permanent interests, they will elect to the
next Legislature majority of men, who will
boldly carry out these honest and just views.
We recommend that law shall be immedia-
tely passed apportioning the States liability
for interest 1ao1O due. intoannual instruments
that to meet these instruments and the inter-
est which will annually accrue on the princi-
pal debt, and the expenditures of the State,
the present rate of taxation be doubled that in
the details of the law, such guards may be
thrown around the Office CT collector, as viii
most effectually prevent loss !; and that such
provisions may be introduced as will most
certainly cause all the taxable property in the
State to be assessed atits Intrinsic valne.
Let a law of this kind be passed, and the
credit Of Mississippi viii be at once restored.
If from unforeseen causts, the revenue should
fall short few Thousand dollars in any one
year, her warrants Issued to supply the tempo
rary efficiency, will then be of par U11ue, If
such law is passed-if such a system is ad.
opted,who would not be proud to be a citizen
of Mississippi She will then proclaim to the
world that although through the acts of poIIti.
cal de.nagogues and evil councillors, revolt.
ing principle was monentary triumphant, yet
that it has no abiding place in the honest
hearts of her citizens, and that the principles
OF external justice, resting as they do upon the
divine command, t'dounto others as you would
have others do unto 7ou," is not only appre-
ciated and felt, but j acted on by the people
ofour State, and that however great an mex
haustible her peculiarly resources may be
however rapidly they may increase and
multiply hereafter, they shall all be exhausted
before Mississippi Will degrade ny her exam
pie, the fair fame, and mistaken integrity OF
the American States.
JOHN M: Chiffon, Ch'm.1 9
q /