New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-12-24
RETALIATION IN THE SOUTH.

The question of repudiating the enormous
and burdeusome debts accumulated by earpetbag
rule Is now under serious consideration In the SOUTH
and as will be seen from the following extract from
letter of "Guths" to The chicago Trbxne Georgia has
already decided to repudiate portion Of the burden
heaped upon her by the runaway Bullock:
In highly interesting conversation with n L. Anger
esq Treasurer Of the State Of Georgia and VIII Alton
Angler, clerk Of his ONCE the roo"ins "'''
g What is the debt OF tho State % 80. ~.
Answer" Inc direct bonded indebtedness IA s54cooOo
Tue contingent Indebtedness Is S'I'9'Oo io'ai'
What would be the debt Of the state If all BuilocAs
OBLIGATIONS had been yaIid|
lis the opinion however. Of some OF the most con
sentative men in Georgia that the state viii acnO"leuge
ABOUT 81 400 of Bullocks bonds, bringing the Whole
Question OF the Freasurer"V at is TIE income or tho
state, spa what IS the taxable 'aia' Oh properly la
Answer-"The property Of the State. at the low valu
banking and insurance capital and railways The gem
cra tax OF l1O OF per cent would produce W.T.
the rental OF tho State Board, sI5Ooo making in all
sIll7GC9. qhe special school tax os 10 OF per cent
and some forms OF license make sJi4g2) The entire
disbursements to carry on the State IN 1872 we're so
aud this left for interest on the different LOANS vii
069 81 Tho assets OF the Georgia Government are COM
puted at A., 700. scsni"
Do you believe that BullOcks excessive obligations
Answer-"I do Il they call It reputation, Il win
protect rs against future thieves as MISSISSIPPI is pro
toced. No State credit makes honest politicians and
The above shows that by the lato action OF inc Sate
authorities $l9OODC0O have dsOwned in Georgia
for which the bonds outstanding. whatever
the Justice of the defense, u Is improbable that mankind
viii cali TINS act by more than one word and that VIII Dc
Inc fomr States which will not say " Repu late" under
any circumstances are Alabama, KENTUCKY, Missouri
and Texas although in the latter state the public con,
tracts with railway grantees have been broken In some
instances, on grounds OF PRIV ate or party pIeJudice
WHOLESALE NATIONAL. IMPROVEMENTS.
The suggestions for gigantic trans-cOntinental
canals, embodied in the Presidents message, have
Ecening Post as might well have been expected, ia
among tho earliest enter its earnest protest against
the whole scheme. 1t says;
or principle involved dangerously in these spec
ulatlOns by the Government have so often spoken
that il seems needless to say ghe Governments
competition with spectators 20 carry trade and
commerce.. But the practical effect OF once entering
generally into these projects would be disastrous that
must not fan on all occasions TO protest against H.
For give the spectators fair START an Congress-
and there will be end 10 them. Even while this hear
ing the Niagara Canal project going the Ken
lucky members were preparing bu FOR the purchase
by the National Government OF the whole OF the Louis
The State Of Kentucky and the other stockholders have
been anxious for long time to DO rid Of tins costly in
They propose 10 transfer Il 20 the United States pro-
Vded the United states Will pay ali debts due by the
Canal Company and purchase all tho stock OF the d.
rectOrs. more sensible proposition would be for tho
body who will accept it, without conditions HewYork
would be very glad 10 have the General Government pay
oil its canal debt,
Virginia and wisconsin want to be relieved Of their
interest in similar public works. In fact every c0mmu
nifty has project which would greatly benefit It's
local trade, providing 1t did not itself pay the and
Congress might well undertake t. control the OY
legislation TO satisfy the demand for Government In
yestment 10 these speculations. Let Congress make
ing all these schemes proposing Rational partnership
IN local commerce..