The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-05-25
Debts OF the states.

Debts OF the states.
The following extract from the London Times was
called TO our attention some time since, and we mme
daely made inquiries OF the Senators of the States OF
Mississippi, Florida, Arkansas, and Michigan, then in
This city, TO enable to lay before the country true
sasment of the embanassinents OF those States which
have caused them to be charged with reputation. We
felt confident at the time. that although they might be
s,; labong under the unforeseen effects OF the over
whelng revulson OF 1897 yet that the honor of Their
Jeople shrunk from honest liability which they had
The ability to meet The London Times does our people
no more than justice, when it says "lt is scarcely toe
much to believe that if the question of reputation
now put for the first me not dozen individuals would
be found to assent !" but the idea entertained by that
Journal that public opinion alone has forced the States
which temporarily failed in dischargng their Liabilities
to resume payment, and that the others will be found TO
be homes, in self-defence," is We do not
believe that any State in the Union has ever desired,
now desires, to repudiae any Indebtedness fairly
ractei,. although from unexpected embarrassments,
some OF them have been unable to meet their liabilities.
The country has now recovered from the shock which
destroyed its resources twelve years ago. 1t is now
yns prosperty and we venture The prediction that in
meet its liabilities promptly They will do this because
they will have the means do it. They will not be driven
to by public opinion, but by vruous desire to act
fairly and honoraby with their creditors And trust that
the lessons of the past will be remembered by them in all
time come preventing visionary schemes and wasteful
extravasance in times Of prosperity
From the London Times, Feb "a
The interesting question connected with the pres
have in causing return to honor the of tho de-
fauing communities OF Mississippi Florida Arkansas and
Michigan. Ii is than years since the credit
these States found themselves embarrassed ruined
by their misplaced confidence. In the crash which
stoned the default five other States also suspended Three
of these have resumed, and, for the par in
leave them free from stain the fourth has made
compromise which, although very crediiabe in ITSELF
will be faithfully adhered and the fifth (linoi,)
gives ground for orbearance and hope by portion
of what is due from her, and by denying her liability
for The remainder The indication afforded by this gradual
progress is unmis,akable. the sound feeling of the
majority of the American people, comprised in the de-
ulng States which irresistiby impeled the deauers
make these efforts to regain their standing in the Union,
and with every instance of good faith, the force
public opinion have become still more severe in its
operation upon those that remain When nine States
with aggregate deb. Of Sll4O030 900, banded
gether, they formed phaanx sufficiently powerful
another and resist. for time, the example OF the
duced to FOUR with debt of than $1,000 900,
thy occupy very different position. The number of
States in the Union is q, with total population of 00)
0 OF this population the proportion of the four
dating States reaches only $4,000. II is Difficult, to see
that surrounded by such ority, who promised
by partnership with them, they mus speedily become hon
est in self defence.
But is this ground that the best hopes of the
creditors depend There abundant sign, that ia the
years which havs elapsed, very decided change has
Aaf,.
scarcely much believe that il question of re-
pudiaton were put for the first time, dozen
divlduals would be found il; beyond this
that II each by quietly contributing his quota hence
forth could place the matter as if nothing had ever hap
pened there would b, further trouble Of any kind. The
diff uY is get any agitae afresh d agreeable
subject. Claims that have been dishonored for
third of generation may well be left for another week
month, year, and the affair goes single bold
politician in each instance might only carry point
but gain enduring fame.
Under these circumstances, is plainly the policy of the
creditors TO active movement, and
tain distinctly from the executive OF the several defaung
States the ground they disposed take Ii the result
these applications should prove uniavorabe they should
then lose time in drawing forth, by petitions and by
every other available method the advocacy OF the
upright and energetic amongst those in each community
who capable OF giving direction to popular feeling.
All the South American republics now seeking TO make
arrangements with their creditors and would be disagree
able TO find that Spain does stand alone in degra
daton, will be because she point examples
some OF the furnishing governments of the Ango-
Saxon race.
As stated before, applied to the representatives
OF the four States mentioned repudiang States in the
above extract We have received the following inform
alton from three of them, Arkansas Mississippi. and
Michigan) In answer to inquiries with respect to
Florida, the Hon. Mr. Yuee has referred to several
documents which give full history of her monetary diff
hculdes which have as yet had an opportunity
examine We will do so at the earliest moment, and
lay before readers the result of investigation not
doubling that the facts will exculpate Florida from the
charge which has been brought against her.
Arkansas.
WAsmISeroN, March IL, 1919.
DEAR sR Your note of yesterday, enclosing
from the London Times State indebtedness, before
supposed short and simple statement might the
purpose you suggested and that prepared make
fully this charge of .renud,,iou .aain.s mv ss,,eWa
charge really unounded truth and made specious and
plausible only by the of prefenng TIA reference
papers not here within my REACH and somewhat elab
crate statement of facts necessary and proper place
The matter in its true light, and do justice Arkansas
alike in her past history and present position These
will make reach home, which hope to do by
the middle of April and communicate you such use
In the mean time. assert positively sha. Arkan,,. h.
never repudatcd " and although (ike of her sis
Sates) she has, under extraordinary and unpropitiou,
circumstances, become involved in debt which she has
not the present ability to pay speak confidently and not
unadvsedly when say she never will "rcpudate' that
debt.
return herewith the question: as requested by
you, but would like to have copy for future use.
am very respectfully. your obedlent servsni
TnoxAs RrrcuiE, esq Union Office.
M,..,..spp,.
Statement furrishsd bv J,fsysow Daus ESQ senator of IN,