The Nevada journal. [volume] (Nevada City, Calif.) 1851-18??, 1857-06-26

REPUDIATIoN.-As series of articles
are appearing in the Pacific on State
reputation. The shameless writer
openly advocates declaration of insol-
vency by the people of the State. Hap
PLY the articles can do no harm. Pub
lie honesty in general is Of higher
character than that of their author, who,
Judging from the style of his writings is
a loud mouthed exhorter of some demon
nation. He writes without a knowl-
edge of TIE circumstances under which
the State debtwas contracted, without re-
Election on the inevitable results of re-
pudiation, or an acquaintance with the
men who are vitality interested in the
credit of tho State. The assertion that
the business men IF the State are lost
to all sense Of honor like the writer, or
of their true interests as permanent citi-
zens of the country, betrays an ignor-
ance Of the character and intelligence
of that portion of our population exceed
ed only by his want of knowledge of
the first idea Of moral obligation.
A large share of the debt of the State
is constitutional. 1t was created by
the first Legislature actually or virtual
ly, in accordance with constitutional
permission. The first Legislature was
authorized to contract any debt it might
choose. 1t did contract a large debt
actually, and in failing to provide by
taxation or otherwise sufficient revenue
to support the government, virtually
produced an accumulation of that debt
the succeeding year, or compelled the
wheels of government to stop.
In another regard, there is not a bond
of the State that has not validity in it
by every principle of law and justice
The salaries of the officers of the State
Executive, Legislative and Judicial,
were established by the constitution it
self, and some of them have continued
without change to this day VIII any
one contend the Governors salary,
whether paid in bonds or Controllers
warrants, or money is unconstitutionally
issued to him ? Or the salary of the Su-
prene, or District Judges? Hitherto all
salaries have for the most part been paid
In Controllers wsrrants. These have
been bonded by act of the Legislature,
the scrip issued to pay a salary consti-
tutionally established goingin with State
Prison, Hospital and other species of
warrants of doubtful constitutionalitv,
to make up a sum sufficient for five
hundred CT thousand dollar bond. VIII
it be contended that so much of that
bond, as the amount of the constitution
al scrip in it has no validity We
think not. Then that much of it is lust,
if no more, and should be paid. But
how are we to arrive at the proper
amount ? The bonded warrants have
all been destroyed and the people have
elected men to office who have kept
the Treasurer's books in such state
that little or 10 information can be gain
ed from them On this point But shall
the people repudiate the whole debt be-
cause their own accounts have been kept
in a condition favorable for cheating
That would be miserable honesty
They know portion of the debt, at
least, is just and should not take advan-
tage of their own negligence or rascal
ity.
Besides, the bonds of the State bear
ing the great seal, and signatures of
Governor and Treasurer, have been sold
to innocent parties, not versed as well
in constitutional law as the laws of trade.
They looked upon the finely lithograph
ed paper, the portrait of the Governor and
his autograph signature, the seal of the
State, and the solemn promise to pay on
the face of the bond, and relied upon
the good faith of rich and rising coun-
try to redeem the promise thereon MADE.
They did not study our constitution,
thinking, and thinking wisely, that a
Governor of a great State should under
stand it before appending his signature
to the highest evidence of credit pIedg-
ed
If the people repudiate, they will
have elected and loaned their officers to
deceive and swindle the world.
PoLITICAL.-The Pacific Sentinel in
quires pertinently, and comments thus
IF the comet had struck the earth,
| c+l1cl- fast and bacon,a n ,ort &c a. q