Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-10-17
sEpuplATEp BONDS.
What's to Pay Down In Mississippi.

correspondence Cincinnati commcrcial.l
Away back In 1887 the State Of Mis-
sissippi borrowed, In, New York and
Europe, the sum Of $1,000, 900. and
gave her bonds rs evidence Of indebt-
tdness. This money was borrowed for
the purpose of lending it to the plant
ers and business men Of the State.
For this purpose 1t was placed In the
Union and the Planters banks and
gradually loaned out IN sums Of $1,000
and upward. The plan looked like a
good one. Here we're business men
aud planters getting money at a low
rate, and at the same time the State
was deemed secure from loss. Money
was plenty and everybody was happy.
and the wonder was why the consum.
mate plan to make "easy. times" had
not been thought Of before. But as
the notes fell due they were not met
promptly. Some were not met at all:
Suits were brought, the lawyers had
fat fees. hard times came and the banks
broke. The money was FILTERED and
loaned and fooled away. The Legis-
lature, to its everlasting disgrace be 1t
said, took advantage Of some trifling
technicalities and regulated the whole
debt. Since that time the specter Of
the repudiated bonds has hung like the
sword OF Damocles Y e Mississippi.
In every campaign they came up, and
In every market in the world Mlssis-
| sippi suffered. Her credit has been
third rate ever since. No II has filth
In her promises to pay. AS n mere
matter Of economy, 1t would have been
better to have paid that debt when
first due, for certainly the State has
suffered two-fold In consequence Of the
reputation. The bonds have been
hawked about ever since ut from two
to three cents OH the dollar, according
as the hopes Of payment, always slim,
rose and fell. The principal and Inter
est now amount to nearly $780, OO.OO0.
Aud now what q splendid opportu-
nifty to make a fortune In IL the pay
ment of those bonds can DO forced up
OIL the people. The whole amount
could be bought for u song. The Leg.
islature could be captured for a small
per cent. Of the grand total. The only
difficulty then In the way would be the
Governor. IL he did not veto the ar
rangement, the holders Of the bonds
would succeed In their plans. But
they know they cannot expect any
thing from Acorn. They tried him
shortly after he was elected TO the
Go~vernorslip four years ago. rs he
says himself. They first want to Tx
the Governor, aud make SURF Of him
before they buy the Legislature.
It Is understood that Ben. Butler
holds a large quantity OF the bonds,
aud Is attorney for the rest OF the hold
ers. do not know how true this Is,
but it Is certain that lie has recently
written to Acting Governor Powers
making inquiry as TO the amount OF
the State debt. This 1, Of startling
significance to the people of Ml'sis-
slppi, and hence their keen anxiety %
find somebody to beat Ames. For this
reason they support Alcorn, aud In
fact would support anybody to lloor
Ben. Buffers son-in-law.
Ames protests that he Is not In favor
of paying the bonds; that his father
in-law Is not n holder Of them; that
he IL rs much opposed to paying rs
anybody, ard that IL the Legislature
passes Il law tv fund them he Will veto
it. But the prOperty-holders distrust
him, from the fact that he Is not him
self u property holder, and does not
live In the State. As Alcorn says,
they cannot trust thirty millions OF
dollars to the word OF n o resident.
Ames has many disadvantages to
contend with, and If 1t was not for the
united aud %untiinching support which
the negroes give him he would fare
slim. His greatest disadvantage Is the
fact that he Is old Ben Buffers son.ln-
law. There Is no man In the United
States so cordially hated here as Ben
Butler, or one IN whom the people
have so little confidence. lie Is coll
tinually referred to us the Beast, and
poor AInes as the "son.in-law OF the
Beast"
In addition to this, Ames Is sur
rounded BY n bad set. Gibbs, on the
ticket with him for Auditor, has been
charged by Ames himself as being cor
rupt. In 1859, Gibbs and Dugan tried
to swindle the State out Of $4,000 by
fraudulent printing accounts. Ames,
then Provisional Governor, check
mated the game, and used this Ian
guage: ~ know that maj Gibbs to
be corrupt. No
party can live that uphold such men,"
But now, between Gibbs aud Ames all
seems to be lovely.
o. G. French. the head Of tile Rad
ical party In Adams county, where
Ames "%lives,!' Is a defaulter to the
Government for $40. 900. This ap-
pears on record, aud Is not a story
trumped up for campaign use.
The Pilot, Ames' State organ. Is an
injudiclous and ~blatherskite sheet. 1t
struck q serious blow at the cause Of
its master, BY saying that iii the Re-
publican party remains In power, the
repudiated debt will be paid"
1t takes poor Ames about half his
time to keep his own fellows straight,
and deny,tl lies OF the enemy. thus
cutting short the period that ought to
be given to the merits Of the con-
troversy.