Southern standard. [volume] (Columbus, Miss.) 1851-1856, 1852-12-11
The Planters Bank Bonds,

sold for the benefit of the Planters Bank. This is
only unjuss but tits in fact The late
is not, in any sense in opinion, a test of popular
judgment; The law submitting the question to the
people "gag." 1t derived its existence from no
manly spirit it sprung, believe, from low
down demagogueism-the very worst and meanest.-I
1t is notorious fact, well known in this State that
there is very respectable party both in numbers and
talent opposed to the payment of these Bonds. We
can name among our ablest and most prominent men,
many who have taken ground against their payment
there connected with the press who, in years
past, opposed their payment, and assaed with pecu
liar acrimony projects designed to liqudate them. In
view of these facts, ask why have these been
silent! 1t very probable that could answer this
question satisfactorily many, but it would be to the
confusion of others. We let that pass however.
The law submitting the question of taxing for means
to lquidate the Bonds, pronounce "gag." 1t
projected for the purpose of escaping direct is
sue of Reputation, which the Regulators dare not
make and canvass before the people. And to avoid
the responsibility of organizing party with that end
in view, and also to escape defeat and payment
gethe the idea of asking the people they would SUBJ
nit to taxation for the payment started. We
apprised that but few are familiar with the his
!
fully appreciate the obligation resting upon the State
for their payment, is limited. To put the question of
taxation them connecting it with presidential con-
test, when could be fully and fairly discussed
upon its own merits before the people, a trick
wholly unworthy of men who desire preserve the in
tegrity ofthe State.
There have been many projects started for the pay
of these bonds intended no doubt to escape the
81,
the bank, whatever they may be- together with 9TH
within the control of the State, should first
be exhausted before the question of taxation should
esorted to. Others have conended that the State
under obligation to pay, and that her legisla-
should extend only toyieding to the bondholders
resources legtimately Belonging to the bank. 1t
known that the assets ofthe defunct bank have al
most wholly been squandered or lost, by neglect or
bad management, and the hope of making anything
out of them has become an "obsolete idea"
If the Regulators in the State feel nerved to an
open and manly contest by their apparent recent ti-
umph, should like to them present the question
fairly to the people, disconnecting it from all other is
sues, that the merits of the sale together with the
obligation of the State to pay, may be discussed.
Abroad, where the facts never go, Mississippi is re-
garded having definitely refused through the ballot
box to submit to taxation to lquidate these
bonds She is, by this means thrown, falsely as we
hold into untrue position her integrity branded,
and her credit, just at crisis when credit is needed
impaired, if not destroyed.
/ We protest against this verdict as unjust. We pro-
test against this state of things because we feel that
the credit of our noble little State sacrificed abroad
only that demagogues may ride their short of
triumph among us. We protest against this because
the interests of the State eopardzed and her cred
it sacrificed without any sufficient assigned for
it to the world. The people have said, and under a
"gag that they would not be taxed to pay the bonds
No reason has been assigned for this decision. They
not permitted say that they believed the sale
fraudulent and would not pay. They were not per-
mted to say that the sale in violation of the
ganic law of the State, and would not pay They
were denied the poor privilege of saying, can't pay
Give the taxpayer the chance say by his vote why
he will not pay If because the sale was fraudulent
or, in violation of the organic law Or from any other
reason let him record his opinion in form. But it was
a dirty trick to make men stand up before the world
and say, without why or wherefore, won't pay
Most men have a for refusing pay and when
stands up before his neghbors and announces that
he will pay where is known that he has used the
means of his neighbor without any return therefor he
would be considered dishonest unless he assigned fol
his conduct plea. This is fair parable
as all can see for the State has assigned fol
not Paying-she has simply said that she won't pay.
GIVE have heard it said that England designed tc
exclude Mississippi cotton from her ports The reas
assigned was, that as Mississippi had repudiateC
the payment of the Planters bank bonds her citizens
: many of whom hold are interested in them would
be defrauded of their just claims. Now putting the
righteousness of this story aside, because it is botl
ridiculous and impossible let us take the idea of ex
clusion as started and what England can do with
out cotton.
The wealth ofEngland consists in her Commercial
marine and her manufacturing interests and the pre-
ponderating bulk concentratedin the latter branch
There are probably not less than two and half mil
lions of persons directly engagedin manufacturing AM
mechanical pursuits and probably half million NOR
are indirectly quarted these pursuits, and Deepen
dent upon them for labor and food. We have no in
formation sufficiently accurate relative to the numbe
Of full grown hands employed in the manufacture o
8 cotton, to base conclusive argument upon but VI
know from experience that there are enough, as tn
movement of 1912 proved, to unsettle, if not over
Throw the government, if thrown ont of employment
and orcedtO seek subsistence through other branche
industy Cut of the cotton grown in Mississippi
81 from the amount consumed in Great Britain annually
=