Flag of the Union. [volume] (Jackson, Miss.) 1850-18??, 1853-02-11

From Tie NascAet Courier.
The Financial Condition u the state.

. my Is empty; portion OF ita people appear Wi
ling to give up att idea Of preserving lis credi
and part lis press seem anxious to avoid th
question Of how that credit can be restored, Les
any agitation Of the public mind may inierrup
the quiet serenity that now promises to mer
fspoilsmen so long grasp Of public honors an
OF Offices The sinking fund, so improperly an
propFiated by the State last year to pay lis OF
binary expenses, has at length been exhausted
and the State Treasurer has at last TO guard onI
"a heggarty array Of empty boxes" This sinE
Ing fund Was composed of portion of the mon
les paid in by bondhoIders as premium, at th,
time the latter bought the bonds to which IN,
Sta'e had pledged her faith. So fair then stoot
the credit OF Mississippi, that about 5000 zoo
were paid In cash into her treasury, over and
above the face Of the Bonds. Il was directed
20 oe reserved as the commencement Of sinking
fund tor their redemption.
Three or four years since. Mississinni had .
large surplus IN her treasury: considerably over
nall million, if we recollect Alright. The Leg.
isiatore, though always acknowledging the is.
bility OF the State--constiutional, legal and
morai--to pay the Planters Bank Bondas -
elIned TO pay the interest lhereon: and a IL II
afford encouragement 10 the spirit of yepudialion
and TO take away the continually recurring in.
cenilye to honesty, that surplus in the treas-
ury always presented, the Legislature ordered
100000 OF the surplus 10 be distributed back
10 aae counties OF the Stale, aud the taxes of the
people 10 be diminished one-half. :. Ii the Leg
isatpge had desired to force the State into = re-.
padIation Of her bonds, to drain her treasury ard
in1PoEerish her Golfers so:that she could aoI ,av
hef debts without oneroos taxation, Thai BODY
would have adopted no other means than IL aid.
Even IN this distribution Of the surpias. there
was n method in the legislative madness that
almost provokes smile. The counties had
been taxed according 10 the real and personaI
property contained therein; the taxes were "a
distributed back according TO The population -
FROM Adams county, the State had gathered
some Si5 zoos year; to her, il gave back $500:
from Ilshomingo and Tippah, 1t had gathered
ABOUT SSooO, and It gave back 49, 900. These
are strange facts, but they are facts. neyerthe-
less. The State drew money from one se. If
counties, and gave it away to another set: az if
10 give the last named set an excuse for voting
not to pay the State obligations, on the ground
OF un"iillngness to be taxed, IAN excuse they
readily asailed themselves of) at the very peri-
Cd when they were receiving back in one year
more taxes than they paid in during three wears. I
and when the counties, which were thus bear-
ing the heaviest burGhens of taxa,ion. FIR IN.
beneht OF their more populous sister counties.
were still by large maiorites in favor of further
taxation to redeem The credit of the State! We
aonot whether any other State can exhibit such
singular phase OF public sentiment, or point to
such an unjust and culpable course of Legislation.
The surplus was distributed back in this nm.
righteous ratio; The taxes were reduced in this
Improvldent manner; and then the Legislature
hfecled vote OF the people to be taken, as to
whether they were willing to submit to TAXATION
o pay bonds, which the Legislature itself, while
{ did not dare TO repadiate, had not the 6rmness
Q propose liquidating! Where can be found
he parallel to such conduct Nor was this ali.
Al the very period when this announcement
vas given to the people TO repudiate the State
oonds, BY the fact Of an empty treasury, of a
revenue, and the bug bear Of heavy
aNa''oh 10 me future, the Legislature seized up
IN the very money paid in by the bond holders.
- premium upon the bonds over and above
heir par value, and authorized the treasurer n
lshurse 1t for the daily expenses of the State
! Inc bonds Were to remain unpaid, il was the
eight OF dishonesty 10 spend the very money
. the bond holders, at the time the State was
efusing to pay the bonds for which tina, money
vas paid in. But the sinking fund was seized
pon--and il has now been spent. Not a dol-
ar remains in the Treasury. The amount which
he High Court so lately decided, should be
aid out of that fund towards the interest on
hose bonds, has not been paid. The warrants
the State are for the FIRST time for sly or savan
Ssios Pats AshhcAy per cGHk. or there.
bonts, 10 The otter made for them in the money ,
'afkei; ard there can be no amendment of her J
nanciai condition until after April or NAV !
hen the taxes will be coming in, and back )
'arrants will be paid. ~ - $
But before the close of 1858, the demands nm. !
. the Stale Treasury will have again exhaust ,
IT, and the Legislature must then be called
pom to invent some new panaeea, wherewjth a
cure the evils that reckless, unwise and dis-
onorable Legislation has induced ?
Perhaps the contemplate of these melan- <
,oiy facts may induce orr fellow-citizens to re-
ect, whether they have not paid dearly for The
hlstle, IN conslgning to the care of Democrat G
Legislators, as they have for few years back.
o bonor and interests Of the State II was but !.
few day since. that the Mississippian stated :
at sit was the mission Of the democracy 10
I'D the power OF The State. 10 deyeIop i,s re-
urces, and TO put in moiiop all. necessary re.
rms demanded by The wants Of The people. az
ey have done heIetofore.,' Ofcourse The Mis-. !,
'slppian presents the history Of the mast. A q
e only promise the party makes for the future. oi
dyed by this light, the mission Of the demo- Sc
hey has been most grossly abused, and the in g
esis, honor and credit of the State has been
iraged Ia The hands of it's leaders. Do ihe q
- of q squandered revenue, an EMMY treas :"
I, Fspudiated debt, PROSTATE credit, and nj
onhscaslon OF trust funds plead loudly for the 70
IN power of such leaders1 Do thew y
rather call upon the people to take their own II
sirs into their own keeping, instead of coniid- "
! them again to unwise and unjust stewards.
2 Tast#a Southern Antidote, ~