The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1873-09-18
THE KEPUDIATED BONDS.
The Grounds ON which their Pays
ment was Refused.

to a sovereign State, none other than the /
People themselves, had passed their SEN
tence upon it. But to the CONSERVATION |
Of all classes, after the lapse of this long
time, when they were impoverished by !,
the war and struggling for the means of
sustenance under a mountain load of |
they are apprized of a scheme
on foot to recognize and fund the pre-
tended debt and to mortgage the prop
erty and labor of the State to secure its
payment. In his speech on the 29th,
Gov. Alcorn asserted that while Govern
or he was approached on the subject of
their payment, and that he had full
knowledge that large sums, amounting
to hundreds of thousands of dollars,
we're in the hands Of agents authorized
to buy up influences and to procure votes
in the Legislature for imposing tax on
the people to pay them.
The plot is still working.
In an unguarded moment, when
flushed with confidence in the overgrown
authority of its party, the Pilot, the Off
cial organ thereof, openly announced
that the pretended claim ought to be
paid, and 'rOuId be paid, prOrided the Re
publican party continued IL polger.
To accomplish the scheme Ring was
formed, having its controlling influence
in Massachusetts,. Ames was selected as
the instrument for carrying it out. His
father-in-law, Ben Butler, of Spoon
Thief notoriety, is the reputed counsel of
of the bond-holders, having, it is said, an
interest of eight millions Of dollars in the
so-called scheme, with the promise of a
large contingent in case Of its collection.
In confirmation Of this statement,
the following letter from Butler to the
Governor of Mississippi, making inquiry
about the ''debt," as he ctIls it, is here
with appended:
Boston, MASS, August IS, 1873.
DEAR SIR: Please oblige me by stating as
near as you can what is the debt of your
State bearing interest. and at what average
If you will oblige me with an answer, /
will remain, Gratefully yours,
BENZ. F. BUTLER.
To the Hon. Ridgeley c. Powers, Governor
of Mississippi.
In this aspect of the question we have
reproduced from the archives of the State
the following letter from Gov. McNutt,
written thirty two years ago to Hope & Co.
containing the first official notification
that the bonds were not binding obliga-
tons on the people Of the State, and
would not be paid. The reasoning is I'M
answerable. The thought arises, if they
were not binding on the people that lived
when the bonds were sold, how much
less are they binding on the present gen
Grafton which had no more to do with
the creation of the claim than the people
who lived before the flood:
MISSISSIPPI BONDS.
To the Governor of the State Of Mississippi /:
| The undersigned as trustees for the hold
| ers of Debentures of the Bank of the United
| States at Philadelphia on deposit of Ameri-
| can State Stocks, and amongst Others of a
| considerable amount of bonds of the State
of Mississippi bearing five per cent. in
terest, issued through the Union Bank of
| Mississippi and made payable at the agen-
1 cy of the United States Bank of Pennsyl-
vania in London, the principal in 1850 and
| 1858, and the dividends semi-annually in
| Nav and Novem ber-having been refused
payment of the interest due the first of this
month on said bonds, are compelled to adj
dress themselves to the Government of the
State of Mississippi; and from their conf
dence in the faith of that Government, they
| feel convinced that the simple mentioning
| the fact OF the non-payment will be sutli-
| cient stimulus for the Government of the
State of Mississippi to take Immediate
measures for the payment of the interest
now due and which will further successive
! ly become due on these bonds, and to pre-
vent Irregularities or demur so prejudicial
to the interest of American credit in gener-
al and to that of the State of Mississippi in
! particular. IoPE & 60.
Amstel dam, 22d May, 1871.
| EXECUTIVE DEPARTMENT.
| CITY OF JACKSON, July b. lS4l.
Gentlemen-I have received your letter
dated Amsterdam, 22d May, 1S41, post
marked Washington City, June 2lst, 1871,
and bearing the official frank of the Hon.