The Placer herald., 1857-02-21

prohibiting the contraction Of any state debt
over S30O,00 without an appeal to the peo-
pie is we take it, only second to the estab-
lishment of the Vigilance Committee, in his
torical Importance effect of the Judge
ment is to leave creditors of the State for an
amount exceeding $2,7O0,OOO absolutely
without recourse, and to inhict upon the
state credit blow which will be felt for years.
1t is of course competent to the people and
Legislature of California to repair the mis-
chief by passing a new remedial act, assum-
ing the debt, and having the same ratified by
the people: and this, if they have either pru-
dence or honor, they will make haste to do
But, with all their haste, time must elapse
before such an act can be passed and ratified
and meanwhile the claims Of the creditors
will be exposed to all the contingencies of
their precarious position. The people of
California, like the people of Mississippi, may
come to think it convenient to pay off their
debt without putting their hand in their poe
ket New flaws may be discovered in the
character of the debt, and ingenious lawyers
may show that it may be repudiated without
shame. Questions may arise as to the dis
posal of the money obtained from the credit
ors, and it may be shown that the State was
not the only recipient at beneficiary thereof.
California may make what amends she can,
and pay principal and interest at some future
day. But she cannot wipe the stain from
her annals. For generation at least the
Californians will lie under stigma and re-
proach. Men will be shy of them and cool
to them. Not that they have shown them
selve any more dishonest or less honorable
than their neighbors, but because they have
given evidence of so little sagacity, and so
much recklessness that one never can be GER
tain that their elected agents are not profess
sional knaves. What has been done, may
be repeated. Future creditors of California
can never be certain that the parties with
whom they contract-however high their
office and large their esteem in their State
are not violating the law and defrauding their
constituents and thair creditors together.
DREADFUL STORM AND SuIpwREcKs.-On
Sunday morning Jan. 10th, commenced the
severest storm at the northeastern part of
the United States known for many years.
1t extended over the eastern, middle and
western States, and as far south as Virginia.
and continued with but little abatement Of
violence until Monday at midnight. Snow
fell to an average depth of two feet, and in
some places drifted to the height of fifteen
feet. All the railroads were blocked, and
the mails stopped.
The cold throughout this storm was in
tense, and many persons were frozen to death
in the roads. So encountered were the roads
that on the 2st January, when the eastern
mail arrived at New Haven, Connecticut
the conductor there refused to send on train
to New York. There were great many
passengers for California, who were deter
mined to be in New York in time for the
seamer-which they could not have been if
the train had laid over; consequently, there
was a row, and the passengers broke open
the place where the conductor had conceal
ed himself, and forced him to start the
train.
On the coast the storm was most disastrous
The brig Emcline, from tbs West Indies,
went ashore at Barnegat on Sunday broke
to pieces, and all hands perished. Several
other vessels were wrecked or driven to sea
In Massachusetts Bay the most damage was
done to shipping. We have accounts of
more than Il dozen wrecks in the vicinity of
Boston. The ship Orrissa from Calcutta,
was wrecked on Cohastetts Beach, and the
mate and three seamen drowned. Bark
1edesco from Cadiz, Captain Patterson, was
wrecked at Swampscot, near Lynn, and all
hands perished. Ship California from Sur
imam, and bark New Empire, from Mobile,
were wrecked on Cohassett Rocks; crews
saved in life boats. Bark 4. G. Cothraa,
from Apalachicola, went ashore at Race
Point; crew saved. Several smaller craft
were also wrecked at various points in the
Bay, and others were driven to sea from
their moorings. Owing to the disarrange-
ment of many of the telegraphs and the
stopage of the railroads, our information as
yet is from but limited extent of the sea
coast.
Tho Vo,,yy or