The daily union. [volume] (Washington [D.C.]) 1845-1857, 1856-08-07
ABoLIrIos ASSAULT upoN STATE srooKs.

ABOLITION ASSAULT UPON STATE STOCKS
Amongst the nearous assaults upon the interests Of the
southern States for the purpose OF Strengthening the
Of abolition We have which more deliberately
and directly hazards the interest Of the North the mad
anxiety for success Than the effort Of the Albany Eve
ming Journals prominent and inscriptions organ Of the
black republieanso destroy the fiscal credit the south
eru States by Islander and missatement.
The immediate pretext for this assault found by the
Journal in the Of the Wisconsin, banks which have
been authorized 10 employ the stocks of the United States
and Of other States a basis for their operations
The banks (says the Journa) have been driven Of
Wisconsin for security, and allowed gather up
per cent State stocks the bankers the Badger
have might have been foresen by practical men, gone
the South for the cheapest basis for We
have before list Of the twenty banks of State
and with i've exceptions the security for the circulation
the whole the stocks of Missouri, Virginia. Tennessee
Kentucky Georgia. louisiana and North Carolina OF these
i've exceptions, freeStae stocks shgan and wisconsn
constitute bat small part Of the security. Most OF their
respective issues based upon the promises pay of
above named southern States. We % be anticipated BY all
oAo read tAs declaration that the existing
ing basis Of Wi.consia 10 whouy unscfe."
The Journal proceeds prove how il is that these in
yes,ments unsafe. This is its theory;
Consider the of all those seven States in body
They composed of two classes of personspsners
slaves Between them, convenient agents only, few
white merchants mechanics and professional In
gia the African population is AZ and four
the whole population of the State In Kentucky 20 per
and halt of the whole. In Louisiana composes
than ha50 per cent. and six tenth In Tennessee
24 cent OF khe whole population In North Caro-
lima sc and threeenths OF the whole In
it Is cent and twoenths of the whole Now histo
and instinct teach all that the unjust and OPP
presue relations subsisng ose uhe
proprietors and the black ta6orers oiH
sudden end Whenever that army Of Africans, initiative Of
the children of Israel held service by the Shareholders
Egypt, shall march out from under their yoke when
like the slaves Of Rome they shall undertake chop ,oih
knife and that yoke utterly pieees the value the money
bonds issued BY the States hic they ,oiH sink
4" five minnte. time They poud TOE wor The paper they
printed on. Thb I" beyond dispute.
In anticipation of such events (mhch may happen any
moment the biho of the Wisconsin banks have tho
hghest that IS the purpose Of those States
,oadra from the Un'on Their representatives, in Congress
continually threaten their northern in fed
era politics. Mr.. Fillmore has repeatedly advertised and
approved Of their newspapers give daily and weekly
tce fit Without stopping to inquire if the threat
honest or but false and fraudulent pretence dis
credabe its northern and southern the
teripg Of counterfeit money let ask ho' could be The ru
be bonds Of siape States hch should secede from the
Unon They uoud sell for mill the dollar. They
could sink day to the bottom Of the market, and DO
quoted IN a eeek.
No banks the North should al,opsd eiroula
ting upon the basi. the public of State.
contain cihin emelve such fatal ee"ent Of decay
voluntary slave labor and such material of social ruin
classes OF working designated by their laws chat
tells considered enemies by their public policy and
ed brues by all who reflect their public sentiment"
Our readers will not fail to note the knavish malevo
lence which inspires this tissue of asehood Here direct
charge of Reputation the part OF the States
ferred to. 1t may take place by disunon alleged
been imperativey threatened by several distinguished
1t may take place by failure the part of the
southern States to make good the payment of their debt
and interest as in the following paragraph:
"Not partcuarize the of Virginia. which failed to
pay falls interest and in lieu OF cash. issued
creditors about million dollars in copperpate engraved
promsesnst alude her debt Of believe,
thirty millions, with for its direct
taxation OF needy people,"
We pause to correct this SANDER Virginia never failed
to pay her 1t has been awayseady the
when due Las, winter she resssesed her whole property
and nearly doubled the of her taxation good
everything she may owe and make operative that sink
ing fund which has been required by her constitution to
accompany her debt
She authorized in payment OF outstanding ana domes
tic debt the issue Of notes which promptly accepted
by those who held such demands absorbed by the banks
ohe State The July interest the State debt Of Virginia
was promptly placed in New York. and there 10
any doubt Of her future punetuaity Her last
rhowed immense gain in the value Of her lands and the
number OF her people Her next win show much greater
because her whole interior is filing up with i'm
migrants from every quarter OF the world and every
ton Of the State old and has revived and is growing
with unprecedented prosperity Virginia has
pended the payment Of her debt Pennsylvania
fortunately compelled to do Ye, such misfortune would
be argument against the system Of labor pre-
rsilng In the one than the other.
But the mslevoen obber OF the Journal that
clifton may "st any moment by Of the
owners or by exodus Of the whole slave masses We
presume be knows well ourselves that this Is about
probable that the factory operatives Of Lowell and New
ark win overthrow the social fabric Of the North because
Of the jealousy between labor and capital sha
this time attempt dsBroye The apprehension OF the
nal But suppose the prediction should prove true who
would be the chief losers by the nsovent stocks Of the
southern Sstes7 The South has received the raoney for
them II has been invested in chief part in internal inn
provements. Who advanced amount perhaps not less
than millions Of dollars the South upon its
securities7 aThe northern and European eapitaiisH
Their. is not State in the South whose securities
have been sold hypohecated upon advance Of
northern money greater less amount and yet this
jobber Journal who adroiuy mixes State stocks and
politics offers an argument based allegations which
would II true utterly destroy the entire investments Of