The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-10-04

injured by receiving the Mississippi Union Bank bonds
and how have these bonds caused toling age destitute
widowhood, and helpless infancy TO weepl Have they
been thrown into market since public notice of their dis
puted legality given and is there censure for
such fraud sympathy with the aged the widow, and
the child if their claims in conflict with the inter-
ests oil the money changersl these manufactured
cases. gotten up to sustain the denuncatons against the
State, and 10 subsee the interest of capitalists Is this
an attempt to avoid scrutiny into the justice OF the
by invoking weknown feeling for age and helpless
ness and is this not the weeping OF real sufferers, but
crocodile tears" OF hired advocates OF the "nnocent
stock dealers OF London 'Changel
Our judiciary Is governed by the general rules
and principles that OF England and little likely as
the bench OF any other country to permit the channels Of
sure the prevailing opinion OF people, although
Of the Mississippi newspapers has aided 10 the circu
laton OF this calumnlous imputatlon upon judges
In relation to the Planters Bank bonds, it is stated
that we make distinction without differences and Of
the law which made them receivable for the public lands
Of the State. that "hey are only so receivable upon land
being tax en- three times its current value The prce
fixed on these lands is six dollars per acre; they are
represented have been selected with great care and 10
be OF the best character OF our cotton.growng lands
Our policy is TO sell them low to induce immgra
ton and hasten their occupation The governor OF our
State, under whose administration they principally
selected in his message to the legislature at its biennial
session OF 1885, protested solemny against using the
lands opay the Planters Bank bonds whilst he strongly
enforced recommendation "to raise the money by taxa
ton, and discharge the debt rapidly possible. ln
recommending the policy to dispose of the public lands
at their fair value" he said The legislature ought
in my opinion TO fix the minimum at eight dollars the
first year. seven the second and on down to one dol
lar per acre" The present financial difficulties, and,
above ALL the short crops and low price which our staple
has borne for several years. this to be most I'M
favorable time to dispose of wild lands. Under ordinary
circumstances the price fixed by the Legislature would
not be considered the full vae of lands such these
are represented be- The distinction between the bonds
OF the Union Bank and those OF the Planters Bank
constitutional distinction the difference is, that the legis
latue by the law above noticed by establishing and guard
ing sinking fund, and in other NODES have, from time
time, recognised the validity Of the Planters Bank bonds,
and evinced determination to provide for their pay
ment.
'Repudation," in the true meaning Of the word, cannot
be applied TO Mississippi. Where there has been
nexion, there be reputation. II the Union Bank
bonds never were debt Of the State, then the State
could not repudiae them. The agent of the State has
failed to pay the interest on the Planters Bank bonds and
the principal OF such have fallen due, provided
but the State has not denied her abyhas not decar
ed herself free from the obligation and in this has
committed no act OF reputation. With far propre-
y might reputation be charged upon the English govern
nen for the reduction of interest her loans when she
consolidated her debts; for the income tax, which
pes fund holders to return part Of the interest they
receive their evidences Of public debt for the support
of the government which is their debtor But my pur
pose to correct error, to repel SANDER to defend the
character OF Mississippi and will not go beyond it,
JEFF. DAVIS