Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1847-08-12

$1,000 s-s-..s
the true constitutional relations which the brtow
my State held 10 the General Government In
Tue other case where the stock vas thrown into
the torelgn market. there was Just as little mis-
conception. We remember, when investment in \
hercan State stocks was in vogue that the Tendon
lines and other journals m,si eafnes, in their de.
LIMITATIONS against blind confidence IN the ability OF
HE respective States 10 meet their eneag, mcnis Il
was distinctly aud repeatedly shown that the American
Government was moi in market-bu ind. lual members
OF the coniederacy. with whose nyagements il had meth
ing To do and for whose liabilities was neither morally
n'r conslntionally. responsible Articles in defence ol
The responsibility of particular States aud illustrative of
their resources. appeared in other journals but in no in
stance was commended thai the Federal Govern
men was, directly nd,eclly, bound for debt con
iracted by indy idua State The British capitalist,
in lending to Pennsy lvauia Mary land and her States
acted with his eyes open. lie deceived MS IL
the character of the borrower higher rate of interest
made him disregard all risk, when lending to STATE
which. whatever lis relations to the General Govern
menl and its States of the Union was to him no more
than corporation OF city orot a rail road.
The remarks of Lord Pamcrston were the more nm
called for, inasnuch Pennsy ania Maryland and II
LIMOS, three of the States which failed for a season. to
meet lhe interest have retrieved their character by
Stunning payment or making provision for doing so the
coming year We have a word 10 say in defence oi
the repudiang States such Florida. Arkansas Mis-
sissippi and Michigan and leave them the niam,
which must attach TO their conduct-but coercion
of payment could not be attempted, even upon them,
without, involving the countries in a
We have alluded 10 the diversity of opinion as to the
extent Of application intended to he given by his Lord
ship to his principles and threat His words are some
What ambiguous, but we incline to believe that if call
ed upon for explanation by Governnent-noi an i'm
probable supposi,ion-he would not find it difficult 10
show tina, he alluded only To Spain aud countries once
her colonies This was probably the ruh--but he has
artful, involved the United States in the reproach of
bankruptcy, by diplomatic. rather than rhetorical use
of the figure OF speech, called Synecdochc We fluid the
following in the Richmond Times
We are confirmed in the impression that Lord Palmer
stons threat Of enforcing the payment of rcpuliated
debts not designed 10 be extended 10 the States OF
the American Union. by the following extract made by
the Enquirer from the Weekly Despatch -
There is IA wretched inconsistency about Lord Pal
merston's bravado. We had much approach 10
right. had we inleposed to prevent the United States
from running Mexico from absorbing revenues mort
gagged To subjects. But the L. Sta es are too pow
eriu-therelore Lord Palmorston holds his tongue
Spain is weak therefore he busters. The 9th r day
in the question of our nearious Interference in Portugal
Lord Pamerson acclaimed on the great lmprudence of
holding outa threat OF war, never any case be ac
compisled Yet he holds out this very threat ON
an occasion on which defy him 10 put it in practice
All Doctors Commons would tell him that he has no
right to do it, and all England would tell him that he
should not do it, We apologists for the reckless
ACKNOWLEDGEMENTS the corrupt expenditure, the blgotted
policy # Spanish rulers We have shown before now
on Mr.. Golden authority, that Spanish finance ought
10 be prosperous by the abandonment of snuoulnu
ana fraud cr,ated by the laws We know the pIonea-
cy of the court. the dishonesty Of the administrators
feel for those who have been simple enough To lend
money To swindlers II shame reproach could bring
back, would proher all our aid, But it for
bluudshed 1t gives reason for numbering innocent
people whom these very swinders miSgovern and whose
government Lord Palmerston has upheld
1t is obvious that the tesy minister is here upbraded
for holding his tongue about the United States and
tenng himself with clustering at weak Spain. We
have referred to article of the Times plainly eyin-
cling the understanding OF that important Journal TO be-
that the principle avowed by Lord Pamerston APP
plcabe only 10 the outy VIM debts of the governments
south Of the peninsula of Florida reference TO his
speech too. viii show that his only distinct alIusion
the delinquent States Of Union is in connection with
the expression ola hope that they may profit by the good
example Of sCme of their Southern brethren.
We have disposition to defend Lord Palmerston
for we have long considered him dangerous statesman
but we 10th to believe that unnecessary insult
this country could have been received with tumunos
applause in the British House of Commons Had the
bravado been known be intended for the Tn ted States
any Of them, this manifestation of cordial approval IN
the popular branch Of Parliament would have indicated
very omlnous tendency Of public opinion in Eugani-
We glad. therefore, to think ii probable that Lord
Pamerston did not mean his threatening declaration
be applied 10 this country, and TO believe that if he did
mean to be applied he SO understood by the
British public.