Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-11-13
MISSISSIPPI CREDIT.

The vote Of the people Of Mississippi recognising direct
taxation for the payment of the bonds Of the State issued
to the Planters Bank will have important bearing
the FIVE million loan to the Union Bank the reputation
which brought the first stain Of discredt the State
This transaction was made party question in the Mis-
sissppi elections for several years The antbondpay-
ing interest predomnated and the validity Of the negoi
alton thus formally denied by the people. The times,
however, then extremely unpropitous for direct
tax and the semblance of justification for the Of
pudiaon was eagerly sought for and urged by designing
demaggues in the fact that value received by the
State for the bonds Between the managers of the Union
Bank and Mr. BDDLE of the Bank Of the United States
Of pennsylvania, the negotiations proved dead loss to
the State.
But it is due to tho real tax paying and large property
holding people Of Mississippi to say that Notwithstanding
the plausible excuse thus up and the prevalence Of
individual embarrassment and corporate bankruptcy at
the time, majority Of their number were opposed to the
course which was adopted The wealthy planting coun-
ties bordering on the river such Adams ncludng the
city Of Nachez) Jefferson, Warren, Including vicks
burg,) Kinds, Including Jackson) Claiborne, &C., uni
formy voted to recognise the bonds Upon these coun
ties the burden of taxation heavy but this weighed
little against the of credit and honor Of their sub
stantal planters They made the unwilling partici-
pants IN act Of State injustice of which they were ever
ashamed And this was brought about by party issue
and by the most obnoxious appeals to the necessities and
prejudces Of the interior countless Of which are
producers Of cotton and others then recently settled
IN the Indian purchase in North Mississippi
The act Of reputation it is now quite evident has not
been made final by lapse of time 1t has ceased to be
party issue however and the case Of the Planters
Bank loan, il is not unreasonable anticipate that JUS
ce will be DONE State credit and honor restored and the
and arrearages Of interest in some regular
and mutually satisfactory way provided This render
ed probable not only by the returning sense Of what is
right and proper, but by the position Of wealth now en-
oyed by means of the largest cotton interest in the world
and Of commercial progress which the people desire to
ENJOY through participation in the great railway system
OF the country The State, in this regard is already
awakened and her people will not be slow to discover the
vital Importance Of standing right before the world of
credit and finance in their negotiations for the preserva
ton Of their trunk lines Of communication 1t spossibe
that the city of New Orleans aided by direct assessment
IN some of the wealthy counties Of Mississippi might
finish the great northern road pointing Nashville
the people have too much feeling the subject to suffer
such an enterprise be thus carried without the
tcpation of the general voice and credit and we much
mistake their present temper if their influence as well as
the higher law of honor is brought to bear on the
question of the Union bonds.-Ner York Times.