The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-11-19

sharing in the disgrace. But why the press of this
country should continue TO indulge the spite Of Tin
some cases at east) disappointed ayarice--though
forming no excuse TO hardy and unblushing debt.
or who boasts of his ability to pay, while he neg
ecis to do so---on the President Of the Union, who
has as much power over the States in question to
enforce the flflment of their obligations, and even
less than our executive would have TO compel the
inhabitants of some Of our corporations to make
good the engagements IN which they have failed, we
are at n loss 10 conceive.
1--WE lent our money to particular States, on
their own security alone well knowing that il was
contrary TO the fundamental principles of the Union
that an adoption of such individual State debts could
take place by the general government. Then why
do We persevere in an idle complaint against the
whole Of the States, because some Of them show
such unquestionable symptoms of dishonesty II
would be sensible and as Just if we were to vent
continual and petulent rage against the King OF
Prussia, because Of the smaller States of the
Germanc league were to break faith with US. And
II would not be more unreasonable if some Dutch
eapi alist having invested money with some county
or local corporation in England, for its own inn
proyements were TO attack the chancellor of the
ciequer, because his interest was not regularly paid
from the public exchequer. What such people
would have MIR. Polk aud the general government
Of the States to do would really be TO confscae the
public funds belonging alike for general purposes, to
States that have conscicntiously paid their debts,
ly and wlfuy avoided them, for the satisfaction OF
the creditors of the latter"
In letter No. o. dated at Frank fort. on-the Main
March 20, 1914, | said;
"The message of Gov. Mcdowell, which re-
ceiyed only few days since, is rcplete with noble
and elevated sentiments. II is document which
would have reflected credit upon the virtuous old
mother Of Presidents when she was adorned by
such personages made her convention Of 1857
a IL
~ Of purpose. Talk not Of the PALMER days of Vir.
gina She never was more upright, honest, and
honorable than ut the present period. Her sons
have inherited the sterling virtues Of their Illus
iIous fathers.
San eminent banker after reading the message,
remarked 10 nc, Ignd indeed, Is deserving Of all
confidence The naure of our political institutions
10 becoming more aud more understood in this
country. The public mind in relation TO them has
been wonderfully enlightened within twelve
month The United States government is no long.
e. considered responsible for the liabilities of the
different soyereignties composing the Union. The
sbsurdily Of assumption has become perfectly
apparent, that is not even alluded 10 in the London
Journals. Capitalists are thoroughly convinced
that the security OF the they have invested in
lands - dependent upon the integrity of the COM
nonweal,h which ISSUED them. They arc a, length
awere that The fifth Of The State necessarily and alone
TIE lac II her dabfj and that THERE NO OTHER
Law wt'icB CAN REGULATE, GUARANTY, AND EN-
FORCE ~
~ have never held State stocks to the value of a
dollar, nor have my friends nyfstmens in them,
from whi b losses have been experienced But the
spectacle would be such sublime one--so saluiary
TO The principles Of self-sovernment-- behold ev-
anything American unimpeached and unimpeacha-
bie--ail the States progressing upward and on
ward, true to the line of public honor and
public duty--that ] trust ] will he pardoned
for the solici,ude | feel for the embarrassed
States, and for the carnestness with which | have
urged them, from time to time, to be faithful to
their engagements The "United Staes!" What
a galaxy of stars they present. Why should there
be one less brilliant than another They move it
is true, IN their respective orbits but each should
be careful TO more for the glory Of the mhoie They
are encompassed by one fag-covercd by its folds
shielded by its stripes; flag unfurled in every
climc-commanding respect in every nation.
Flag of the free hearts only home.
By angels hand to yalor given
Thy stars have lit the welkin dome,
And all thy hues were born In hcaven.n
ooh. who is thcre--what son Of freedom'--that
woulI its fair fame tnrnishcd-the lustre of one
star bedimmed;- and that star, too, which was
placed there in honor Of the Sovereignty Of The State
TO which he belongs, rather than part from little
filthy lucrcH IL there be any SUCH let them ask
themselves, not what was the amount of dollars
which il cost, but the amount Of human privation-
of human blood"
My communications in relation to the State debts
were not confined TO the columns of the Enquirer
alone. | wrote, from time to time, as occasion
seemed 10 require, series Of articles for several
European papers. Ia June, ls43 published, in
the "London and Paris Observer" printed in Paris
by the Messrs, Galagnini, statement of the pecu-
mary condition Of each Of the indebted common
wcaths, accompanied by the following remarks up
on the nature OF OUT institutions, &c, &c;
"THE STATES OF THE AMERICAN UNoN.--Pecun-
AIRY matters have presented so alarming an aspect in
the United States, for the last two years. that the
holders of the bonds OF the individual States ia Eli-
rope, without receiving their interest regularly have
feared that the principal was greatly endangered,
and, in the end, would probably be entirely lost.
That they have sufficient cause TO be frightened on
account of the odious doctrine of Republication en-
gendered IN Mississippi, will not he questioned; but
that this cause any longer exists, cannot for mo-
mcnt be nationally believed except us far as relates
TO the solitary State from which il en,ana,ed IN the
extraordinary crisis through which the States have
passed, ~ monetary affairs, there is some apology
for those in arrears, which have evinced a dcterni-
nation faithfully and honestly To comply with their
oblig tons so soon they avail themselves Of
ample means. From their high state Of apparent
they became suddenly involved In diff
cultics, which the most sagacious mind could not
forcsce. Ii was calamity to themselves, affecting
most seriously the capitalists and others of Europe
but il could not be branded with crime, where The
purpose was lniexible 10 repair the injury al the
earliest possible period. Reasonable persons are al
wsys mdulgent Ia Cases OF inability to comply with
an engagement, however griovous the inconveni-
cnce which may he oceasionod, when unaccomps.
med by fraudulent intentions. States. as well as
individuals, can only fall from their position, in the
estimation OF their contemporaries, by departure
from the principles OF justice and fair dealing The
object Of this publication Is TO make candid expo.
sition Of the financial condition and resources of
each OF the sovereign States, as well as its prevail
ing sentiments in relation to it's public indebted
ness, &C., &c. Those by which the American con.
ederacy formed in 1876, will he noticed In the
order that they were originally settled, and the
others they were admitted into the Union, after
the adoption Of the constitution Of the United States
in 1883"
each Of the States has something's great deal,
indced-(except Mississippi) TO show for the money
borrowed. but il they had proAigaicly scattered
every dollar 10 the four winds;--if they had no,
mile Of internal Improvement within their limits