The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-09-28
Issues in overwhelmingly OF Whig
Financial Policy.

We have seen it stated that the Democratic
gubernatoral candidate does not take exception
to the opinions of his competitor upon questions
of State policy. He complains that the opin-
ions of some of Mr.. CLARKE's supporters are
Objectionable. The american, however, states
an issue highly honorable to the Wings of Ma
ryland. 1t will be a gratifying statement TO
the Wings everywhere, proving, as it does,
that an honest determination to stand up to
their contracts is principle advocated by the
Wings everywhere from Mississippi to Mary
land. The american says:
owe took occasion, not long since, to refer in \
general way to the recent financial history of Ma
ryland, which, all know, records a success
sion of severe trials. embracing the depths Of hu-
initiation on the one hand, and exhibiting, on the
other, most triumphant vindication of the States
honor and good faith in the midst of discourage
mcnts the most depressing. There cannot be at
this time more opportune inquiry for every voter
TO bring home TO himself than that which will lead
him to remember what party it was by whose coun-
sells, by whose courage, by whose firm and steady
perseverance the common eath delivered from
hercondition of and made
to hold up her head in the proud consciousness
Of a name retrieved and unsullied by rcproaeh. The
same inquiry might bring to mind certain other
"reminiscences of reputation clinging to the skirts
OF politicians Of another school, and now high in
the service of their party and in the enjoyment of
bonors and cmoluments conferred by the State
whose condition they were willing to regard AZ
desperate, whose honorable fortunes they were
ready to abandon 10 wreck and disgraceful ruin.
whose dearest interests, involving the soul of her
integrity, they had already devoted to sacrifice"
This sterling declaration is followed by de-
tailed statement of the comparative patriotism
and financial capacity of the Wing and Demo
cratic administrations. From this appears the
remarkable result that the Democratic party
held the administration from 1899 to lS45; that
upon their surrender in January, 1916, ''ihs
State had lost all credit, and was unable
Ito meet the interest Of her public debt"
When the Locofocos surrendered the keys Of
bankrupt treasury, Maryland owed fifteen
millions, with an auearage of nearly one and
half millions Of interest. In consequence Of
this reputation the market value Of the debt
was but ten millions. Here was loss to those
who held her certificates of debt--Inost probably
her own citizens-of five millions Of dollars
Governor PRATT was elected; he brought to
't''"f'N'Sh
gacity; he was sustained by the Wing princi-
pie, that it was the first duty of government
to preserve its public faith See the result of
that policy, pursued amidst obloquy and oppo-
sition. The present market value Of the debt
of Maryland is fifteen millions the arrearage Of
interest will be reduced in October to 81 80 900,
whilst the accruing interest has been regularly
paid. We ask whether there is higher tni-
umph of wisdom and honesty than has been
achieved in the adoption of Wing instead of
Locofoco principles Of financial administration
The example of Maryland has proved that the
people of the United States are honestly dis
posed to comply with all their engagements.
The repudiating States Of Illinois and Indiana
were taught the policy Of adopting this system
of finance; and even Mississippi, we are per-
suaded, will throw off reproach which has
been so much to her prejudice. Shod with
the preparation of Wing principles, Maryland
trod the wine-press alone. She has now the