The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-25
TIA L oudou Iimas Oct "a

The State OF Alabama Is one OF those regions to
which one may look with a sort of refreshment
from the pentup populations, exhausted resources,
and burdened exchequers OF this elder world. 1t
lies between the Both and the 18th degree of north
latitude, on the Gull OF Mexico, and within a few
days sail of the principal West Indian Islands II
is vast plain of unsurpassed fertility, lntersected
by numerous navgable rivers, and equally adapted
for the crops both of the tropical and the tempe
rate zones. BY the aid of railways it is now short
cut from ths northern States of the Union
to the West Indies and Central America, and
the coast of the Pacific. In mere geographical
extent 1t is about the size OF England, while
Its population does not exceed that OF
rough of Msryebone. We might go on for
column expatiang on the advantages of this fortu-
nate State but will only add that, by preserving
IN all Its integrity the convenient Institution OF
slavery, it proves that Its scruples do not stand In
the way Of its advancement. Certainly, II there Is
place IN this world where man might expect to
breathe little reer, forget the sins and debts OF
his forefathers, be honest with ease, and virtuous
with less than usual sacrifice, that place Is Alaba-
ma. We are all apt to imagine situation in which
should discharge the duties we now neglect or
slur over; and if England had her wish she would
probably ask for just such pretty addition to her
home territory as the region we have described
How would she reward her worthless, settle her
paupers, employ her juvenile offenders and, above
all, how soon would she pay of her debt! AT
least, 1t Is easy to think SO.
Bur- as If To show that virtue does not depend on
opportunities fortunate Alabama il about to be the
chief of defaulters That is her glcry: To this
end was she blessed with such unexampled resour-
ces-thst she might vlndcate all the more gratul-
tously, and on the grandest possible scale the noble
principle OF reputation. Were her debt eight
hundred million pounds, or nthe OF that, or
ntbe OF 1.-THE OF that-were t only eight millions,
in that case Reputation might be necessity, and
Alabama might be only like MoolraJ. the humble
victim OF circumstances. Considering the scale
and proportion of transatlantic honor, there would
be nothing wonderful in AN American state large
Enu and VnfI Ifse IL n nav
dredth part of our national debt But the promised
testimony of Alabama to the great principle OF re-
pudiaon is spontaneous, deliberate and emphatic.
The total of her Indebtedness is barely 81 900 900
of our money. The interest on this debt, and all
the cost of the state government, do not togc-
Their exceed Gll0,00O a year. The present
revenue of the state from all sources Is about
GlI5,000 year, leaving an annual deficit OF about
f25 600. This e25, 900 year is the subject of the
glorious testimony which Alabama Is now about
to make IN the presence OF the whole civilized
world. She Will not pay the money II Is not Tor
the value of the sum, but for the principle. Alaba-
ma pays much In the way OF State taxes as she
finds compatible with her comfort, and will not
pay one dollar more. European nations feel the
same repugnance to additional taxes; for example,
this was observed when the Chancellor of the Ex-
chequer proposes per cent income tax. But
there other alternatives besides increased taxa
ton One of them is to borrow, as resource
which we have lately been reduced to. Several
courses are open to the State of Alabama, not tor
paying off the debt but for distributing II over fu
lure years. But no; these heroic repudiators are
above such paltry shifts. They will not pay at a
greater pace than they have done heretofore; and,
as portion of the capital will shortly be due, they
are resolved not to refund that al ALL
The public profession Of insolvency has not yet
| been made The Legislature meets ne xt month,
| and will Immediately be called on to decide whe-
ther it will acknowledge by increased taxation the
necessity of paying oil its debt some time or other:
| Meanwhile the people have already expressed
| themselves with their usual energy. The candi-
| DOT a tha late ele were ex "a
their sentiments on the allimportant point, which
in Alabama Just stands for the SIX points OF the
| Charter. They have responded to the popular
| feeling with more or less heartiness. Some have
been In favor of total reputation others have adj
| vocateda composition for half the existing amount
of the debt; while others, again, propose To obtain
the same result by reducing the rate OF interest to
half the present per centage Honesty is not a
matter Of degree, and the difference between
| total repudlators and half repudiators is mere
| ly that the former Is the more honest knavery
Of the two. When Alabama snce makes up ITS
mind to poke half the capital or hall the interest
due to the creditor, and has resolved that the APP
preparation is an act of public spirit and virtue, II
will not be slow TO discover that the same process
Of reasoning applies to The Other hall. In fact
| The continued payment OF the remaining moety
| would testify with very unpleasant force against
| the act of reputation. On the maxim that dead
men tell no tales, II will be better to kill the debt
at once and put the cred out Of their pain.
| Half measures will thus lead to what may be
called teetotal reputation |; and we shall GER
| tainly call it half-measure If, with rapidly In
| cTeasng wealth and population, and, consequently,
with abundant means TO pay, the State Legislature
| should decide against any Increased taxation, and
| thus perpetuate the annual deficit
The State OF Mississippi has already done Il re-
pudlation. The DftsssisipPl Dcmocrot consider
the question: settled by the people, and Is not IN Ia
vor of renewing the subject" General Qutman
| who was once rather green on this point, has nov
| thoroughly righted himself in the public esteem
md n cd he a
| vency His words deserve To be printed IN letters
of gold. al will sustain Mississippi IN the proud
and envishle position she occupies, IN spite OF al
| the sneers Of bankers and brokers'" Non sqs,dcH
| inuideo Mirror magis. II Is with wonder rathe
| than envy that we must regard the position OF
state which, with all the riches OF the nobest rive
| in the world flowing at It's feet, refuses TO pay
| common debt, great part OF winch IS contracted
to the hardworked Inh fbiants oil this crowded ant
oveTtsxed country II the citizens OF Mississippi
or Alabama prove that debt may be repudlateC
without dishonesty, and that na.lon may stand II
| high and enyiable position, on the rum OF thou
sands who had trusted 10 it, honor, we shall tnef
| perhaps be tempted TO envy lite possession OF pa
tent morality, which combines the dignity OF viru,
| with the conveniences Of crime, and makes tn,
| moral excellence of individuals depend on tn,
amount of injury they inillct on their species.
Fnr At cmc.oo ILL-A Gre broke on. on Ssturda,
morning between the hours Of and o'clock, in al
| unussd ice house in the ~ thu coffee house o.
Hugh Spear, on State street. -Four 81 the baiding
| burned belonged TO y. b Hurlbut, and two to Dr.
Dyer. building just erected by Mr.. Huntington, OF
Randolph street suffered from the flames; did slsc
the brick building Of George Smith. state street
The latter being IRE proof the damage however wa
but slight Hufbuts buildings were insured for 81 200
The store on the corner occupied by George Bar
ter His loss not heavy b. Jacobs saloon fixtures
partly saved, but his loss Il estimated At $500
insurance Hugh Spear saved most Of his furniture
but his loss must have been heavy. lie not In
| rured. T~o buildings on Randolph street, owned b.
Or Dyer we're not insured his loss s 81 800. One o.
| there buildings was occupied as saloon; hxture
|
a. grocery store his goods saved but In n ds
mseed state; not insured. The second nOor Of one
these buildings vas occupied by DR. Dyer ~ en- oiice
! slfe by Drs beach Fierce. Their property vas al
saved = Chiosse tIa) Democrat, Nor. 10.
RoHEM IBE OFricE oFs rHE AerScr rHI
CsMptS B.SK This mornisg about o'clock tn,
Office Of the Agency q the State Bank at Camden,
J., Ne ~ church Alley was entered by means Of sls
keys, and robbed Of hve thousand tao hundred and
eighteen dollars. The Office Il In the second storJ
ofte building and the rsbber robbers open