The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1844-01-26
From The Journal Of Commerce
THE PRESIDENTS MESSAGE. ABROAD.

Several of the Ell gsh and French papers sneak in
very harsh terms of the Presidents Message The
chief ground fccnsure, 70 far we have noticed is
the fact that President Tyler passed over silence
the subject of State indebtedness, and e, specially The
mons rous doctrine of refIudialion One would spu-
pose that the intelligent, I'd tors of the London Times
and Paris Journal Des Dtbats would know enough of
the structure of our institutions to understand tina,
the President of the United States has nothing to do
with the affairs of individual States and that any in
reference his part with State indebtedness or State
reputation far from being demanded by his Off
cial position, would be decidedly out of place, and
would be SO regarded by the non-ndebted States us
well as those most deeply involved Each OF the
States is rosers'en in lis own sphere; and it is only
when their affairs involve rectly our national ysia-
tons with foreign powers, that it becomes the duty of
the President and Congress TO take cogniz ance of
them. That time has not yet come. AS to repuGia-
ton in the sense in which it appears be understood
in Europe il has existence on this side of he At
lantlc No State has been reckless of its honor
and regardl,s of the PRINCIPLES of Justice
as to reiudate an acknowledged debt. The only
States, we believe which have repudsted any por
OF their debt, are mississippi and Michigan Ia these
were issued, were not complied with that they were
issued In violation Of the express letter Of the Consl
tuition, that no value was received for them &c
These pretexs might be efficient to Justify the nom
payment OF bonds 50 tainted, if the question rested
solely between the original parties but cannot
be available when the bonds are held by par
ties who had no agency in, or knowledge Of tbs
vice which attended their inception. To this admis-
sion we have no doubt the repudiang States will
come at last; and in the mean time we know Of no
benefit which is likely to result to any body from
misunderstanding or msrepresentng the facts. The
total amount OF bonds repudiated does not exceed
eight or nine million dollars a quite insignih-
cant compared with the aggregate amount of State
indebtedness (Which approaches 5000 GOO 0OO) but
a sum, nevertheless, which is quite too large 10 be
withheld from those to whom it is due. The great
mass OF State Indebtedness is not only acknowledged
but will be paid. The country is emerging from the
terrible financial crisis which came upon it, and
States as well as individuals no were temporarily
obliged to suspend payment, are recovering their
energies and preparing to do justice their ciedi-
tors. But we are wandering from the purpose which
we had in view at the outset, viz. to show that what
ever blame is chargeabe to the non-poying and es-
pecially the repudating States (and not the
persons to justify either unless they have done all
they could do 10 fulG' their Obligations the Pre-
sdent could not be expected to make their Delinquent
cies a topic OF anlmadyersion in his annual Message.
That such is the universal sentiment of the American
people, who perfectly understand the relations sub
ssting between the General and State Governments
is evident from the fact that although both the lead
ing political parties disposed to the Pre-
sdent whenever they have opportunity, not man Of
either party so far we have heard has ever
alleged as iau that he made ausion in his Mes
sage TO the above mentioned subjects. And further,
we are inclined to believe that the paragraphs which
have been copied from the English and French pa
pers in reference to Il Message do not express The
sentiments of the great of thinking men in those
countries respectively. Our London correspondent.
who has rare opportunities 10 acquant himself with
the state of public feeling in England and who is
careful 10 avail himself Of the opportunities he en-
joys, thus writes, under date Of 81 instant
a. The Presidents Message has been well received
By the merchants and the respect bic portion Of po
htical parties The Pamerston p int, the Morning
Chronicle, was quite rampant about the Oregon sug-
gesions and the Texian topic and endeavored get
up an excitement upon the question The effort hap
PLY failed"