The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1863-08-08
Jefferson Davis and Reputation

! In the late issue of the Continental Monthky
appears searching review. from the Hon.
| Robert j. Walker, of Mr.. Davis criminali.
~ IN the Reputation Of Mississippi bonds
Mr.. Walker shows that Mr.. Davis wrote
two letters justityng the act of reputation
cratic organ Of those days, on the 2lth Of
May, 1919, and the other in the Missippian,
on the 29th Of August, 1919.
| The following is brief history Of trans.
actions which preceded the Reputation -
In 1885 there was a great monetary distress
in Mississippi. There was n general demand
for " relief measures - when the legisla-
ture met its attention was absorbed by the
| question how to remedy the financial embar.
rassment. On January Dist, 1887, law
was passed creating the Union Bank Of Mis-.
sissippi. to be based upon loans to be OBJ
| tanned upon bonds Of the State, the proceeds
| of which, when sold, were to constitute the
capital of the bank and this money, thus
obtained, to the amount OF five millions Of
dollars, was to be loaned to the "citzenB Of
the State to relieve existing embarrass-
| monts. BY the Constitution of the State
! such an act required the assent of two sue.
| cessive Legislatures to be valId and &C.
cordingiy the act was repassed by the next
gislature, on the 9th of FEBRUARY, 1898,
this Legislature having been chosen in
November, 1887. Mr.. Walker writes:
There was thus full, complete, and
undisputed compliance with the require
ments of the Constitution, and, under this
act, thus sanctioned by two successive Legis.
latures, it is conceded that the faith of the
State was pledged"
The Legislature, prohibited by the Con
stitution from interpreting the laws, usurped
| this function of the judiciary, declared the
law invalid, repudiated the bonds and the
acts Of three preceding Legislatures, and
the decision OF the highest tribunals Of the
State. Jefferson Davis says Mr.. Walk
er, . sustains this reputation, aud the Brit
| ish public are asked to take new Confeder-
crate bonds, issued by the same Jefferson
Davis, and thus to sanction and encourage,
and offer premium for Reputation.
"Tbese so called Confederate bouds are
| issued in open violation Of the Constitution
of the United States they are absolute
| nulities, they are tainted with treason, they
never can Or will be paid and yet they are
to be thrust ON the British public under the
| sanction Of the same great repudator, } ct
! ferson Davis, who applauds the non.pay.
ment Of the Mississippi bonds, and thus
condemns hundreds Of innocent holders,
| including widows and orphans, to want and
| misery. Talk about faith, about honor,
about Justice; and the sanctity Of contracts
Why, if such fragrant outrages, such afro.
cious crimes, can I've sustained by the grca.
| public of any nation, small indeed must be
the value Of their bonds, which rest cAclu.
sively on good faith
The more closely this afIair is examined,
the more dsgraceful does it appear for Mr..
Davis. All the courts, the whole lar Of
| Mississippi were against him. Not a man
| of eminence or character in the State ap.
pears to have been on his side only gath.
ering of bankrupt cotton planters. Mr..
Walker concluding his letter, says g. In
| the case, also, Of another slayehoiding State,
will prove, from the public documents,
| that jefferson Darts rotHntccrod TO sustain her
in the reputation Of her State JOndy in case
| more atrocioaS, i possible, tran that of MisSis-
| s'ppl. AS Jefferson Davis is now at the
head Of slavehoding conspiracy, endeav-
oring to destroy the Government of my
country, and is now also engaged in selling
worthless confederate bonds in our mark ct,
! have deemed it my duty to make this pub.
| IiGatiou.'