The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-09-05

FIeeisiations, contracts, &c, which have occurred
| during the war, are void: 1nmy judgment,
lour acts, SO far as they have not violated our
/ duties to the United States, are valid Il here
/ is no moral reason, and am unable to perceive
any legal reason, Why they should not be So II
would be revolving, indeed, TO maintain tha'
iury man or Judge, who sat on the trial OF naf-
derer, who was hanged for his crime, was Nun
self guilty of murder; that bank which has
! issued lis notes, is not bound to redeem them;
or that child born of marriage, contracted
! since goth May, 1861, is bastard. The ex.
istcpce of a whole community, in a state OF
/ nature for four years, is an impossibility; and
! their common agreement about matters, which
do not affect their relations with the rest OF
mankind, must be valid 10 order to preserve
every valuable interest of life. But, in defer
! ence to contrary opinion, am in favor of ratl-
! fyiug all such acts and things as we're done,
/ consistently with our proper allegiance to the
United States, or the ratification of which Is
necessary to give peace and repose to society.
Contracts to pay money however, Except I'D
the case Of bank notes, which are always issued
on promise to pay specie, unless otherwise
understood by the parties, oug hit to be regarded
as intended to be paid iD Confederate currency,
and ought now to be dischargeable with SUM
equal 10 value to the Confederate currency, at
the date Of the contract. -...s $780,.
4. Debts ,Confrarted 6y tie State during the
Rebellion. The principles which | have an
nounced will exclude from payment all debts
created for the purpose Of carrying on the war,
whether authorized before or after the ordinance
of secession. Without some action by the Con
vention or Legislature, our courts, if the State
could be sued, would be bound to declare void
all bonds and treasury notes issued for that pur-
pose, because founded upon n consideration re-
pugnant to our allegiance. The question, there
fore, will be whether the Convention will assume
their payment-not whether it will repudtote
them 1t is a misappreheuson of the subject
to call the non assumption of then an act Of
Republication. e.-.--... ..
[ own no bonds of the State issued prior to
goth May, 1861 and l am much interested to
uphold those issued since. In giving my judg-
ment on the question, desire it to be under
stood that am not, in the least degree, inhu
enced by the cry raised by certain critics on our
loyalty, at the North, who affect to regard the
assumption Of such debts as new act Of treason.
/ have profound contempt for notions of loyalty
deduced from such reasoning. Many Of these
bonds are in the hands Of loyal persons; and
many are investments for the feeble and helpless,
and if the Convention should recognize them at
their real value, it would doubtless be done with
purpose to sanction countenance the re-
bellion, but to protect the innocent, and uphold,
as many think, the honor of the State.
For myself, aftel much consideration, and
some doubt, enforced by an adherence against
anything which may seem even to reflect upon
the honor of the State | incline to the opinion,
that none of the obligations undertaken by the
State to carry on the against the United
States, ought to be assumed by the State.
According to our code of law they are void,
account Of their consideration. And I be-
lieye we cannot assume their payment, without
impairing our financial credit, ard disabling the
State from fulfilling those of its obligations,
which are admitted on all hands to be valid and |
binding by code, both of law and morals.
If we recognize these bonds, we shall be OBJ
liged to recognize the justice Of ali claims for
damages done by our State troops in the course |
Of war in depredations on farms, burning houses
cotton, impres>ins horses, provisions, &c. For
justice knows no difference in an obligation TO
pay debt, and one to pay damage, or COM
pensate an injury. And, in my judgment, ma
tional compensation to destitute family, made
poor by the death or wound in battle of it's head
and support, is as obligatory the honor of the
State any of its highest obligations. IF the
Confederacy had succeeded, all these, and many
more claims of similar character, would have
been placed on the same footing with the bonds
The present debt Of the State, due upon its old
bonds with the accumulated interest, cannot be
short Of fourteen millions. The war debt, By
bond and treasury notes is about sixteen mil
lions. The resources, except by taxation alone, +
for maintaining the public schools are | fear,
utterly exhausted. The tax due the Fedcral
government for five years is yet to be collected
New, when SO many unavoidable taxes are to be
paid, whilst the industry of the country is not
emily disordered but almost paralyzed, | cannot
advise the State to assume, at this time. new
burden, unless l may be assured that the fulfil
ment OF the other, and perfect obligations will
not be endangered.
There is one class of debts created during the
war, and because Of the war, by an act of Nav
ii, 1861, anticipatory of hossiIities, which I
think are proper debts and ought to be paid
These are debts contracted by the Counties for
raising money to support the INDECENT families
of persons In the military service The fund
thus raised was for charity. The case bears The
same relation to the raising of money to equip
troops, as does that Of raising money to clothe
and feed PRISONERS OF war; which, although it
be the means OF restoring the prisoner to the
battle field, is nevertheless regarded as not only
Lawful, but proper. 1ndisent families of sol
dlers pressed into service in war however un-
just, must not be left to perish. A debt created
tor their relief is sacred one. 1t must be paid
under the rule for sealing In MANY instances
the bond sold for sum equal to about four dol
lars IN specie in the hundred Perhaps it is
not amiss to say that do not own any OF them.
In connection with this subject will remark,
that am Informed third the press and private
sources, that the policy Of repudiasing ali con-
tracts OF every kind, aud ,rheaeger made, is be-
ln5 publicly debated. In regard to State debts
have already expressed Myself Tn regard to
private debts, the constitution OF The United
StafRS L. = :