The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-30

~ rssS-with % power 70 courts OF justice 70
ss.s e 70, aoe paymest Of debts due them ou o
noftn wiz have cAused the separation Until tba rsia
lions between We Southern and Northern esiss A.
N".S .sa - considered a. quasi enemies the
Nonefn sA1es Quietly recognise right 70 res ame our
Independence Of them, doubsless the rsbt nav ~ ~
corde1 70 tnem spec treaty 10 enforce the ColIcc
ton OF the debts due 70 them through our courts of -
tce but II they attempt war upou a. roS
with, all debts bet cen the people OF the wsrrnr sss
liberated forever War between two nations msses eysr
man, and child nhAbiiing them enemies 10 ~
epemy = he rsS, Of ali sy .ns p.0sr q q
therefore, in South Carolina from the Unios
which could for those In south Carolina Who Owe
debts 10 Northern creditors would DO attempt BY tie
Northern states the state by military force
The state would not probably allow her citizens 70 pay
dollar 70 Northern creditors until ample Indemnity wss
made for all losses resulting from the the Northern
people force upon her.
Secession therefore, suspcnds all Northern debts aad
war e2tnsuahes them. Let Us suppoee them only scs-
pendeG-thc merchants-the debtors of the South are
liberated from all pressure for their meat II il they
the Northern peopethe Northern creiitors-who ~
driven US out OF union with them. let them bear Ne
OF their expressions and prosecutions II
they who have broken usual channels trade and
south-preventng the collection OF debts and perhsrs
bringing trouble and loss 70 commercial
Let Them wait ct least, until the channes OF con-
merce they have forced seek shall be fairly opsned
before they shA be empowered TO require the psymon
q ne dsSs we owe them, co~pensssins those !. ne
South whose claims have not been met at the North
How long they win have 70 wait, viii depend on the pro
pEedness Of the Northern States MAKE satisSctovy
treaty viii us One thing, however suppose certain
They can make any treaty with us which docs not
stipuale that they shall surrender pay for every
fugitive slave who passes within their lmits some ti
may transpire before they this But they Win
have TO come 70 IT, have intercourse with US VIII
secession from the Union the legality Of enforced pay
extinction. Banks pressed for discounts, q
stocks OF goods hand DO realized at leisure enA
the money used 70 WHY and open new channels Of trade
Our correspondent suggests that our Legislature, In
case the Stale secedes from the Union should auhorise
Suspension OF speck meuts by the banks One q
me first eJpedents to spread c,nfuson distress Over
the STATE undoubtedly may be upon the banks for
specie BY Northern capitalists We trust no C.roinis =.
would be guilty Of such unpatrotic conduct Al preseot
the exchanges between the North and South are bard
upon goods on the one side, and cotton on The
other But let the goods from the North In the
South be no; paicgfcr and more goods from
the North be required for Southern Consumption.
liberated from the tariff and cotton must be paid Tor
10 specie. OF banks bavo no difficulty IN
South Carolina has ever failed Yet banks may be
able to stand panic Suspension OF specie pas meDts Ia
the natural remedy for bank panics In the case OF
action the state ought 70 relieve and protect them from
those who are inmich, by authorizing g suspension q
specie PAYMENTS. No one, IN out Of South Caroins
oittrusis their integrity their ability to redeem their
notes With or without suspension OF specie pay meus
agricultural productions win enable them to realize
s.y amount Of specie they may need either from the
North or from Europe Cotton specie II comes from
the arth Ike gold, and Is convertible into gold wholly
Independent Of the North 50 much for the future.
but WHust tie slatt ouknt 10 protct banks from
any financial Irregularities oonvulsons It shall pro-
duce there is cuty also from the banks the people
Banks were not established with = view only 70
the beneht OF the individuals owning them They
are public institutions created by the public and
Tor mutual benefit fhey create and control the cur
repcy oy which all property rs measured We do mos
expect bsnkersto be Robert Morrses but wo DO ex
ct them 10 have regard to the purposes OF their cres
ton Instead OF seeking abroad profits which no Other
business IN the state except fortunate speculation and
shaving obtain pyobs tending 10 build up other Ststes
and cites the capital OF ths State aud The uconye
neIce OF citizens at houe-Lsead OF seeking nov
extra profits out Of the dsesses which they great part
have produced they ought discount freely AZ they
can TO relieve that pressure which exists So far As .
future change Of government and the temporary dsrus
ard fears inspires concerned the stockholders
citizens Of South Carolina like the rest OF ought
10 bear their part Of any depri troubles losses
which may be necessary 20 liberties and thoso
institutions Which, destroyed makes their value
less We apprehend no serious losses however, resulting
from the state seeding from the Uaionnoue which viii
weigh feather when compared with the prosperity and
gam with the liberty and Independence 1t will soccre In
Southern conicderacy, and 70 place thaa 70
Charleston. Let then act with beraity and conf
derce FOR there really no good for apprchensioa
and Etrngency.