The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-11-17
Chr Chilly Asgns.
ASSUMING SOUTHERN DEBTS.
A stupendons Swindle--The South to be the
Scapegoat.
from the Savannah News

from the Savannah News
For some time past limitations have been
given out in various quarters that a move
ment was on foot the object of which is to
induce congress toscome to the reiiefof the
south by assuming the debts of the south
ern states. The latest development in re-
ference to this grand earpet-bag scheme to
render available and good the utterly worth
less bonds with which, in their plundering
operations, they have burdened the south.
ern states under their control, is in the
shape of Washington dispatch to the
northern press, which says: 1T is said
that Ben Butler will engineer the job, ard
that the plan is to scale the debt, paying
Is cents on the dollar. Ii is also said that
Gi bert G. Walker, the present governor
of Virginia, is largely interested in the
Job He has been investing largely in Fir-
einia securities, and hopes to be elected to
the United States senate this winter through
the combined influence Of fom Scott,
southern security railroad ring and the
lobby that is to work for the assumption
by the United States of the southern state
debts
We regret to observe that some southern
Journals favor this stupendous swindle, on
the ground that it will relieve the south
from Indebtedness which her people never
contracted and from which they have de-
rived no benefit. There is some specious-
ness in the argument that large portion
of the debt which has accrued since the
war was fraudulently created by the car
pet-bag government forced upon the south
by the federal government, and that since
that government is responsible for the acts
Of its agents, lawful as well as unlawful, it
is but right and proper that it should as
sumo the obligations, fraudulent though
they be, that its bayonet- installed satraps
have created Such reasoning sounds log
ical and just, and would not be without
force if our responsibility of compromising
with our plunderers could be devolved sole
ly on the government But this cannot
| be. Whatever obligations the federal gov
| eminent may assume in the premises is
shared BY the plundered tax payers of the
south, while the benefits to result from the
assumption of the debts of the southern
states would go mainly to our plunderers
and the rings OF lobbyists and srecuators
who may unite their influence for the ac-
compIIshment OF the object In view.
| We shall not be much disappointed If
| this grand scheme for pludering the United
States treasury, now that the southern
state treasures are exhausted. is pushed
through congress The interest at work in
its behalf are potent. Beast Butler, the
unscrupulous intriguer and corruptionis :,
it is understood, is deeply interested in
bogus southern securities. As leader OF
the movement he may safely count upon
the carpet bag strength IN Congress, while
| the Termination for sneculariDn is so great
the scheme will not fail to command a
powerful lobby influence Ii would be
strange, indeed, ii such combination of
influences could not succeed in carrying a
measure involving millions of plumber
Ithrou~h = congress that only recently be
longed to the Credit Mpbilier, and which
did II hesl ate to perpetrate the back
salary cal,
But if it is impossible for the honest
men in congress to defeat this stnpendous
fraud we hope, for the honor of the south.
it will meet vigorous opposition and a
stern protest fran her true representatives