The Yazoo Democrat. (Yazoo City, Miss.) 1844-18??, 1845-01-21

paper mohey.
Our remarks we know will be read b.
many; we wish they could be, by all the
farmers Of this State, as it is a subject ID
which they have the deepest interest. We
will suppose that one of them, standing al
the door If his log cabin some bright morn.
ing, sees Passiag along the road at a slow
and steady pace, long train Of wagons ap'
parently we'll laden. lie counts them as
they pasa and finds they number some sixty.
FIVE; surprised at the unusual sight, he steps
into the road, and aCcosts the conductor OIL
the train:
CITIzEN-What is in all these wagons
CoNDUcToR-Specie, sir
,CITIzEN-What! sixly-fve wagon loads
of specie, ali going one way?
CONDUCTOR Yes, sir, and there are a
thousand pounds Of silver dollars 10 every
one.
.C1TlzEN-Why, that makes sixteen thoG-
sand dollars in each, and more Than mill
lion dollars in all. Where can it ah come
from, or be going to!
CoNDUCToR-IHia. Siss IS The amount
raised b, szrcS eOcry gear from the people
Of Louisiana, to pay the foreign bOHd-hot-
ders, and am nOto taking. 1t out Of tie
State to Europe 20 settle Nth them.
The train moves on; the farmer stands
staring at it until it is lost in the distance.
He has made discovery; he begins TO
think. He finds that sixty-five thousand
pounds ofspecie are going out of the State,
never again TO return; that nothing is to be
received back for it; that it is raised from
the labor Of himself and his neighbor; that
this is to continue for twenty or thirty
years; and then there is TO become due a
principal of some twenty ,one millions be-
sides. Could scene like the above actu>
ally take place, the citizens would be arou-
sed to a complete sense Of the grievance;
its equivalent, the same thing in effect,
must actually take place every year, if
what is called the State debt is 10 be paid
If we take the great staple Of Louisiana,
Cotton. as a means Of illustration, we may
place the subject in an equally strong light.
The sum of one million, fifty thousand
dollars, the annual amount Of interest on
The State bonds, would pay at the present
prices of cotton, for about twenty ,ono nils
lion pounds, equal to about fitty-two thou
sand bales, which must be nearly one, fifth
of the crop Of the whole State. Should we
paw in cotton then, we would have TO part
with one~ffh Of our whole product. So
much mystery and deusion has been thrown
by cunning around The corruplions of paper
stock and paper credit, that some may be
disposed to doubt the correctness OF our re.
sults: but let such reflect, that if the annual
interest is paid at all. il must be paid out of
The annual produce or labor Of the Slate, the
money cannot be raised by magic; and al
though the whole machinery of the system
Of extortion cannot be seen by every eye,
vet no observation can blind US TO the fnct,
hat labor is the only source of value, and
put Of it the debt must be paid at last.
To protect individual properly is the le
yitimale purpose of government, to plumber
property under prelence of government, is
virtually a revolution, and no acts Of such
A nature can be morally binding upon soci-
ETY., for legislature was never elected
with the power TO destroy, by indlrecIion,
hat which il is the object Of all govern
nent to render safe.
Should the Legislature Of Louisiana have
passed an act, giving as donation to the
or Lowell manufacturers one
fifth of the cotton crop of the Stale, annu.
,lly, the consequences would be manifest.
The manufacturers would now insist that
ibey had UeSted rights under the act, which
40 succeeding assembly OF the representa-
ives Of the people could rightiully invade;
hat the act Of the Legislature, giving them
1ne-fifIh Of the cotton crop, was contract
with Louisiana, whose obligation must not
be- impaired. The people Of this State.
however, would treat such ridiculous pre-
ensions with contempt; aud reply, the So
vereign power is in the people, who con-
,tituled the Legislature to project and de-
rend, not to transfer and destroy IL; were
we to sanction such an act, we would be
false 10 ourselves, to humanity, and to the
future. Il must be manifest that there IS no
real difference between transferring one.
ffth of our cotton crop to foreign manulac
.urers, and transferring its equivalent IN
money to foreign bOnd-hOlders: The effect
upon the Stale is the same, the bend system
being the more dangerous, as tits less easily
iifled out.
Il would be needless for Us to point out
% our readers that this power to transfer
property By lew, is entirely Incompatible
with free governments property and power
ire synonymous: lake away from The mass
II the people the former and you deprive
hem Of the latter. Whether this be ac-