The Yazoo City weekly Whig. (Yazoo City, Miss.) 18??-1855, 1853-08-19
THE w &.
FRIDAY, AUGUST H. 1853.
The mississippi bond Question.

The Mississippi Bond Question.
The Mobile Register takes high ground
in favor Of the Democracy Of Mississippi re
lieying itselfof the responsibility ofrepudia
! ton. Itrecapitulates the circumstances IN
der which the bonds were issued--show.
how, at that time, the Union Bonds were re
lpudiated the bonds Of the Planters Bank
were admitted to be salid-and finally, how
year ago the struggle was closed by the
express vote of the people, repudiating The
Planters Bank Bonds. On this decision
the Register remarks:
'.Itisdue to truth to say that very small
vote was polled at the election; thatit pass
ed with very little discussion; that it was
generally lodged, and left as pabulum fol
the demagogues; and. finally, it was swal,
lowed up in a far more exciting contest
The'truth, however, remains unaffected, that
this verdict Of people was an enormous
wrong. And it would be no difficult task
to exhibit this, by showing that the State
had previously received and used large divi-
dends upon her stock in the Planters Bank,
and had in her treasury a cash fund prop
erly applicable to the payment Ofinterest on
the bonds. and to nothing else, which she
refused to appropriate to its legitimate OBJ
ject. But this is not necessary for our pur-
Z :
pose.
Tho question now arises what is the
moral attitude of the State in regard to her
liabilities? Why, it is precisely like that
OF an individual with ample means. Sinking
an honest debt and secreting his property.
While the State stood in the attitude of re-
pudiating her bonds, issued, or supposed to
be issued, in violation of he constitution, he
had defenders, notonly at home, but in other
States, and was not without them even in
England. But whatapology IS offered, what
can be offered, for her course now? If
his judgement Of the people is persisted in
If it is not oyeruled-ifthe State does not
retrace her steps, she must be set down as
having repudiated for the mere love of re-
Misunderstanding to pay, because she
IAN refuse, and her creditors have no redressi
tits childish weakness, sheer imbecility, to
suppose that the civilized world will give
Ter credit for honesty and good faith in re-
,udiating one class of her bonds, while she
efuses payment of the other, which every
nan, woman and child in her borders, ad-
nitted to be just and righteous debt.
The exports of the State of Mississippi
re nov worth about twenty millions per an
lum, showing that, so far as her means and
esoueces are an indication Of her wealth
he IS about the wealthiest State in the I'm
on. and yetsbe is inc only repudiating State
q the Union, except Arkansas, State Of
United means, becauseher resources are IN
developed. Pennsylvania. whose exports
re less valuable. promptly pays the ipter-
st upon debt of forty millions. Indiana,
With not half the means Of Mississippi has
made provision for her debts amounting to
fifteen millions, while the liabilities Of our
lister State are but half that amount.
Nov let US face the music This whole
;areer Of reputation has been run during
he ascendency ofthe Democratic party and
md we now take leave to say to you, broth
II Democrats Of Mississippi, in al fraternal
lindness, that itdevo VS. upon you to re-
rieve the character Of the Statc--to shirk
he question no longer, but to provide
or the payment Of those bonds At least
which you one and all admitted to be an
lonest debt and justly due. You have an
,ver whelming popular majority, but you
will find II a precarious and unsubstantial re-
lance, until yon have reinstated the credit
Sfthe State.
But more. You are engaging il I sysr
en- Of internal Improvements which must
anguish under the blighsing influence 81 a
Frustrated State credit. we do not allude
. tie Mobile and Ohio Railroad, whiclris.
az enough advanced With means and Il
sources % be placed beyond 81 such inju-
'ious influences But you are projecting
'sher great works thai win davelon yonr e
source and add intellectually e 5ou. wealth
population and power e you succeed n
hem you will Be the FIRST State uhieh has
5sfleeted s. sseIa 81 railroads ana canal
Without Gle use 81 State credit os i IBIS
81 We haH1 50 doubt from some facts
which have come eur kn6Nlsdee that
re TenRdiating attitude sf State BIS inapairs