The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1850-02-23
SPEECH OF GEN. HENRY .

Inc IN " pay tHe ElantePS bank bnndsS with
an amendment to retain $250,0O0 in the
Treasury, for a supposed federal emergency
being under consideration, Mr.. Henry of
Madison, addressed the committee Of the
whole, in substance,as follows:
Mr.. Chairman: am not so vain as 10 sup
pose can alter the predetermnation of the
committee, who have proceed me. shall
not undertake to achieve SO much, but shall
content myself by an humble discharge Of my
duty to my immediate constituents, and the
people at large. am in favor Of meeting this
great question at once, and sincerely hope
Fl shall be pardoned for frank expression oil
my oDininns. | accord to others the same
high privilege. Representatives Of the same
generous and confding people, having the
same responsible duties to perform, we should
suppress all sinister purposes, and look with
an eye single to the good of the country -
Party feeling here is wholly out Of place -
The great question Of the payment OF the
bonds, is one which scars above and beyond
party. The debt is the debt Of the people,
and their honor is To brighten OrSito fade, to
| glow i'll the sunshine, or to darken in the
gloom, as we may determine. AS the repre-.
senlatves of the people, and welding theiI
sovereign arm Of power, it behooves US to
beware how we act, lest we jeopardise anC
putin peril its bright and ermned purity.
That some may wish to make political capi-
tai out of this question may yell be true
do not know how others feel, but for myself
should feel dishonest by the attempt Il
the honor of the Site be sulied, political ag.
grandizement will not atone for the loss, nor
remove the stain from our escutcheon Nei.
her wings nor democrats would suffer alone
by so foul deed. AS citizens Of the same
State, whatever blurs or brightens its honor
by reflex operation, blurs or brighlens the
honor OF all and OF each.
1t matters not, 50 the debt be just, who may
be the holders of the bonds. 1t matters no
if they be held BY Queen Dowgers or Regents
by princes or nabobs, Jews or gentiles. 1t i
nothing to the question of payment, who may
have had confidence in our honesty, in our in
creasing resources, in our indomitnabe ener
gies. 1t is demagogueism TO make the pay
ment Of an honest debt depend upon the goot
or bad character Of the holders Of the obliga
tions. Every honest man should brand sucl
/ paltry pretence with infamy.
With an overlooking treasury drawn from the
pockets of the people, there can be no legili
mate argument why we shall not apply th'
money TO relieve the State from this long
lected liability. 1t is not only dangerous Il
hoard up such vast amounts in the treasury
but it lis also impolitic. By reducing its pie
thoric and engorged condition, there will b.
no need Of additional taxation to meet ou
liabilities The people Of the county Of Mad
ison complain OF the present burthensome rat,
Of taxation-but it is because the large surplu
in your treasury is withdrawn from circulation
and not applied TO the groat first duty Of a fire
and Vrtuous people, the discharge Of thei
debts. They wish to see aiudiciOus system
provided which will liquidate the debt nov
due, and provide by regular and easy install
ments for the payment Of the balance. 7
effect this great object they would cheerful
submit to heavier rate Of taxation if twer
necessary. But they know no rule Of publ
policy which raises q greater amount OF mon
ey than is needed for the ordinary expenses q
the government, unless il be the payment 9
State debt. Begin nOwltO discharge thi
debt, and the people will second your zet
with hearty cooperation. Determine other
: wise and they. will and ought to reduce ou
present high rates Of taxutlon.
But let us recur moment to the manner
which this s.debet was created. The Planter
Bank was established in 1880. Atthat tin
I the Bank Of tho State Of Mississippi was
existence, with restriction upon future egl
lation that no other Bank shluld be ch aEtar,