Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-01-29

Owe call the attention Of the reade
to the article copied into this paper from
the New Orleans JefersOnian, in relation
to Public Debt, and particularly in relation
to the TwENTY-oDD MILLIONS OF DOLLAR
claimed to be due from the People of Louis
lana to foreign capitalists and stock -jobbers
1T will be remembered that the bond:
which are held to represent this immense
sum of money, were issued by the autbo
rity of corrupt legislative bodies for the be-
neft of associations of bankers and finan-
ciers, with no capital but the cunning re-
quisite to carry out their gigantic schemes
of swindling; and that many (perhaps a
majority of the Legislators, were partners
in the banking mpanies-particeps cri-
minis in the premeditated plumber: that
not dollar Of the amount now claimed to
be due by the whole people of Louisiana,
ever went into their State Treasury; that
they suffered all the evils of the substitu-
ton of an inflated paper currency, and in
some cases its depreciation to almost abso-
lutte worthlessness. And they must now
assume an immense debt, (which it is inn
possible for them to pay, the annual interest
on which will require every fifth bale Of
cotton raised in the State, or else the va
lidity of the contract of these immaculate
and omnipotent Legislators will be impair
ed, and the plighled faith, sacred honor,
and pompous dignity of the State be for
feited-forever lost! The people must sane
ton the fraud which has been practiced
in their name, or be forever dshonored and
disgraced In some cases in which the
Legislature issued bonds 10 raise credit for
what are called the property banks"
mortgages were given to "secure" the
people of the State from the ultimate paw
ment; and 1--WE have it from good autho-
rlty,) Mississippi river land, overgrown
with coco-grass, and converted in:o sheep
pastures, was frequently valued in these
mortgages at 500 per arpent (7-8lhs of an
acre), and plantation negroes at $1,000 a
head; and in most instances the property
mortgaged even at these rates is not liable
belonging to the women. under previous
or the titles otherwise defective.
We are glad 20 see that there is one press
IN Louisiana which has the boldness to
meet this question as it should be met. In
The section of Louisiana in which we lived
Two years ago, the farmers and planters
who had investigated the matter, were de- |
to resist, by all peaceabe means.
he payment of these bonds as a debt off
he people of the State, looking on them as
fraud Practiced upon the people and
when the issue is made. we predict an
immense majority of the people of the State
Will so decide, and they will say in tones
which will drown the whining cant of the
egal robbers, their agents, abettors, and
biologists, that the public veal and safety.
he preservation of public liberty, the trans. |
MISSION TO posterity of republican govern
neht, Tree and untrammelled as they re-
'elVed 1t, demand that they disavow the
'ctlon OF their venal and corrupt legislators
That IS is right, morally, virtuousIy, reli-
,lously, and gloriously right, to REGULATE
leots contracted in violation of Justice and
quality, and of the very object and aim of
republican government: