Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1845-05-02

MSIJ oi these States are indebted RudheS-
Willy inGelted. They gave up their pubic
lands long ago. they gave up their ri ght tc
raise revenue from the customs What is
Texas cailea upon ACKNOWLEDGEMENTS these
States sevefally did not serrender9 If then
tits obligatory upon theGeneral Government
in taking fromTexas her lands and her Gus.
toms TO provide for her debts, why is not
the same obligation binding in respect to the
indebted States already in lhe Union
1t may be urged, however, that the Gen
eral Government did once assume the debts
of heStates, TtNe, tut the revrnUes from
the public lands have more than paid off
the an!osnS for which the Government be-
CaR.e iisbis, ind revenues still continue 10
come IN from that source, and must con-
tinue for years and years, If the lands, as
the property Of the States, had barely sui-
feed to pay off the amount of State debts
assumed by the General Government in
1898, the case would stand quite other
wise than it now stands.
Let us take liberal and comprehensive
views Of this matter. Here we behold our
country thrownof from the high position
which it ought to hold among the nations,
Its just Influence impaired, its good name
sullied, and the cause of free institutions
brought into discredt throughout the world
byreasonof the n-iufiIment ofpecuniary
obligation on the pert Of some Of the States,
1t isuseIess to inquire how the obligations
were incurred, orhow il has happened that
they have not been redeemed. The facts
are before our eyes, and especially the re-
markable fact that with resources and en-
erges and means which must nake us, in
population, territorial extent, wealth, great
ness and power such an empire as the
world has never seeH-- startling phenom-
enon Of imperial grandeur-we ar yet al
this moment net commanding tue respect
of the civilized world.
TIE Republic should see to it that its
Government does its duty. Bv the wa
wing of hand the whole cloud that rests
upon the netonal name, for it is upon the
national name that the shadow rests,
would disappear at once.
An arrangement could he made in this
way: Let tho General Government issue
Its stock to he loaned to the several indebt-
ed States, with the condition that each State
receiving Of the same should raise by tax
es certain amountannuaiIy proportionate
to its Indebtedness to form sinking fund
by which in due time the stock would be
redeemed. The interest on the stock,
which would be given in exchange fo the
State stocs.s, would he paid by the General
Government outof the proceeds0f the Pub-
lie Land sales and the surplus revon6e over
the expenditures of the Treasury; the prin-
Cipa would be redeemed by the Stales.--
The operation Of the system Of sinking
funds in eaCr Sta.e would speedIIysecure
the paymentOf the debt, and all thatwoud
be required Of the General Government
would be to provide for the interest pay
ments Tor few years In consideration Of
this national guaranty it might be provided
thatalI claims OF the States TO separate rights
of property in the public domain should
cease hencoIorth; and further that no State
should hereafter incur Indebtedness except
under such provisions as the General Gov
ernment njghtsonctjon baltimore .9mor