The Nevada Democrat., 1856-12-17
The State Debt.

r.
rily affect the value Of the bonds in the hands
of her creditors. We do not believe there can
be occasion or excuse SO far, for the panic
which many are industriously eDdeavoring to
create. That the decision of the Supreme Court
is correct, and is clearly sustained by the plain
letter of the Constitution, and the intention OF
its authors admits of no question or doubt
How any one conversant with that instrument
could ever have misinterpreted aproyisioon so
free from ambiguity is inexplicable. When
therefore the matter came before the Judiciary,
its duty was marked out clearly, and in render
ing this decision it has given to the fundamental
law the only exposition consistent with COM
mon sense. As we cannot take issue with the
court upon the accuracy of its judgment, nei-
ther can we join in the trade Of abuse, which is
being heaped upon the judicial department.
The functions of that branch Of the government
are prescribed by the same constitution. Under
our system it is entirely separated from the
Legislative and executive, nor do we think that
it would be wise innovation to give to it the
character of an advisory power in the enact
ment Of laws, or the administration Of the gov
ernment The falacy of the Sacramento Union
and kindred sheets in assuming that it was the
duty of the Supreme Court to have interfercd
voluntarily before the creation of any debt, is
sufficiently answered by its blunders in discus
sing this question. While it is engaged in ar
aigning the court for not having dragged the
bills of the legislature into its presence for adj
| Indication, it is equally censorious because
when the question was fairly introduced and
properly before it. the opportunity was wisely
taken to depart from the special issue, in order
to correct any further infringement of the fun
damental law. In other words although they
would hitherto have sustained tbe judicial power
in usurping province not delegated to II, they
would now, in o mistaken zeal for the public
faith, have forbidden the performance Of a duty
dictated by a sense of official obligation.
In keeping with the spirit of injustice, which
has prompted the aspersion of the judicial Off
GERS, is the attempt made through the channels
of the opposition press to fasten upon the DEM
ocratic party the responsibility Of the evils Of a
public debt as well as this assumed breach of
public faith
The provision OF our constitution restricting
the amount Of Indebtedness to be incurred by
the State government, WAS wisely conceived for
the purpose of checking q toolavish expenditure
Of public monies, and also to provide against
the burthen of taxation which in such case must
inevitably fall upon the masses of the people.
Under the ordinary circumstances which at
tend the organization of o new State, the limit
prescribed of 800, 900 dollars would have suf.
feed for setting in motion the wheel Of govern
ment, and have sustained their progress until
the sources of revenue could be made available.
But with California extraordinary difficulties
and embarrassments were encountered from the
beginning. Unlike her sister States she entered
the Union without the patcrnal dover, which
had been bestowed upon them by the hand of
the federal government, She commenced with
an empty treasury; with everything TO provide
for the uses Of the State; with mcager tax
list compared to her vast territorial extent; an
unsettled and unsteady population little calcu-
lated to buildup property of the nature subject
to taxation. Instead Of capital flowing into her
borders, as with other new communities, the
product of extraneous sources, the vast proper
ton of the wealth. produced by the labor of her
people has gone to enrich the commerce of ev-
cry civilized country on the globe Looking
to this condition Of things oil the Investigations
of the political economist could but lead TO the
conclusion that until these obstacles were at
least partially overcome, the revenue within
the reach of government would fall far below
tue expenditures. if confined to the most rigid
bounds. We are far from believing that every
appropriation made by our State has been WISE
y made, or that if wisely made that always
wisely and honestly dsbursed There have
been at all times sort Of political banditti al
the doors of the treasury greedy for public
, punder. Failing to be satiated, in one they
, lave pursued their degrading instincts by to
king rank with whatever party seemed to ofeI
! the best prospect of pillage Happily this clas
| are now found in, opposition 10 the Democracy
loudest in professions of a high morality.
The State indebtedness has been the work O
successive legislatures from the first down to the
+ last, whether Democratic or otherwise Accor.
ding to the most reliable data the appropra-
tions made by the X. N. Legislature of last
year, amounted to as large sum as those of its
most extravagant predecessors, and far exceed
ed the revenue Of the present year. Whether
those appropriations were often made for un
worthy objects we take it is no question so fal
} as the relation Of the State as debtor and III
. creditors are concerned. The debt has beer
} created; the faith of the State has been annu
| ally by solemn enactment pledged for its re
demption and although the forms and sanction,
+ Of the constitution have been overlooked in
creating il the moral obligation rests with us tc
see it paid, and to make such prompt provision
to that end as will prevent the depreciation Of
the bonds issued under the several acts fol
funding the State debt. These several act,
Wprn nagend nq fnllnxro ond 49,