The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1868-02-19
RALEIGH, N. c., WEDNESDAY,
The State Debt-Debate in the Conven.
tion on. the 9th Section of the Bill
of Rights. ~

tion on. the 9th Section of the Bill
of Rights. u
Friday was probably the most inter
esting day of the Convention. The ques-
tion of the State credit came up with the
Bill of Rights, the 9th section being under
consideration, as follows: ~
+ ITO maintain the honor and good faith
I of the State -untarnlshed the public debt
regularly contracted before and since the re-
bellion shall be regarded as inviolable and
never questioned but the State shall never
assume or pay any debt or obligation, ex-
I press or implied. incurred in aid of insurrec-
tion or rebellion against the United States,
or any claim for the loss or emancipation OF
any slaye.n .IEErist - aeE ygauIB7 o.
fs We did not have the pleasure of hearing
COL Heatol on the subject, but we learn
that he electrified the Convention by one
of the ablest and most eloquent speeches
of the session, sustaining the section as re-
ported by the Committee as given above
Gen. Abbott, Mr.. j. II. Harris, Mr. j. R.
French, Mr.. Rodman, DR.. Nicholson, MIR.
Pool, and Mr.. May, followed on the same
side, urging in eloquent terms the adoption
of the section. Mr.. Tonrgee spoke on the
other side, maintaining that the State lost
its existence by the rebellion. and that, con-
sequently, the debt fell with the State, and
must he reassumed to be valid. Mr.. Tour
gee however, stated towards the close of the
debate, that he was open to conviction by
gentlemen on the other side, and that if he
could see that the State had existed contin-
uously through the rebellion as State, he
would vote to pay the debt.
1t was striking and impressive spectacle
to see members native and adopted, white
and colored, vieing with each other to main
tain untarnished the faith and honor of the
State. The speeches will appear hereafter
The Convention, without taking vote, adj
journed.
We still hold as public journalists the fol-
| lowing views on the subject, expressed by
| the Senior Editor in his Address to the peo-
pie OF the State in September, 1866. urging
the adoption of the Howard amendment:
AN honest bankrupt never loses the re-
spect or the confidence of the wise and
good: hut an individual or State that
saws it is my hand and seal. but will not
paw" proclaims for himself and his State
that there is no virtue in moral obligation.
North Carolina will live always. Centuries
hence. her name. and, l trust, her fame will
be known among the nations. States pros
per and flourish, and are respected, in pro
| portion as they adhere to the eternal prin-
ciples of Justice Whatsoever we may do
now, in this respect, will be known and scrn-
tinizcd by those who are to come after us; !;
| and if our descendants shall he OF the noble
stamp of our CASTOR and Macon, they will
blush for their ancestors if they deliberately
repudiatc their Just obligations.
But, we are losing golden moments. In
terest is being added to principal, thus aug
| menting our own burdens and the burdens
of posterity. Our capacity to discharge our
greatly restricted by our exclusion from the
Union. Every effort and energy, therefore,
should he exerted to get back to the Union
The longer we remain out OF it, the poorer
we shall become, and the. heavier will he
| our burdens as Il state ana as individuals.
While every reasonable torbearance should
be shown towards taxpayers and debtors,
let us at the same time guard the honor of
the State, and our credit as individuals, as of
more value to US in the long run than every
thing else North Carolina, though now in
the dust of poverty, is still rich in resources
She will yet rise and shine among the
wealthiest and proudest of her sisters, and
will, in the end. redeem all her obligations.
1 do not despair either of the Republic or of
the future prosperity and glory OF our State.
But one thing is Indispensable, and that is.
THE RESTORATION OF THE UNION With
| it, we shall at once enter on new career of
prosperity. Without it, every interest will
languish. and we shall continue to eat the
bread of poverty"