The home journal. (Winchester, Tenn.) 1858-188?, 1874-09-10

railroad rings, and placed IN their hands
the bonds OF the State, representing mil
lions oil dollars, (Which were sold for thir-
ty, forty, and fifty cents on the dollar the
Legislature did that which 1t had no an
thority to do, and its act Is not binding
upon the people. This position is sustain
Gu by the highest judicial authority In the
land, and it affords me pleasure to refer to
10. The Supreme Court of the United
States in the case of Vanhorne's Lessee
Us. Dorrancc, 2 Dallas 30L, says:
1.-THE Constitution Of England is at the
mercy of Parliament. Every act of Par
lament Is transccnGant, and must be
Obeyed. In America the case Is widely
different. Every State OF the Union has
its Constitution, reduced to written exact
itude. The legislatures are creatures of
the Constitution; they owe their existence
to the Constitution Mey derire tier poto'
ers from The Constitutions. 1t is their COM
mission, and therefore all their acts must
be c~onformable to it, or else they will be
void"
This Is sufficient to show that we have n
moral and a legal right to repudiatc the
unconstitutional portion of our public
debt. And rot only have We the right to
do it, but it is our duty to do it. Our duty
to ourselves. our duty TO our children, and
our duty to posterity.
But. it is said, the credit of the State will
be injured by reputation. What is
meant by the credit Of the State, and how
will it be injured? Neither the Old nor
the New Constitution gives the Legisla-
turc authority to borrow money tor any
purpose. The implied motto Of the Con-
stitution is,-Borrow nothing. The Con-
stitution never intended for the State to
have any credit, in the sense of borrowing
money How, then, could reputation of
an unjust debt injurc the credit of the
State? Perhaps it will be answered that
it would injure its good name, its reputa-
ton. But in whose estimation, would it
be injured? In the estimation of those
gentlemen who constituted the railroad
rings that got the bonds and featllered
their nests? In the estimation of those
capitalists who bought the bonds for a
song and have been demanding compound
interest upon them? Or Ia the estimation
of those members of the Legislature who
voted for the Omnibus bill in 1852, and
who possibly got their share of the spoil
AS Il reward fer their iniquity? IL you
say that the reputation of the State would
be injured by reputation in the cstlma-
ton of either one or all three OF these
CluNSCSs L No"lu bhl Iltu L i"'N Nv '''''
of it. But we care not for their opinion
They are not competent judges in this
controversy. For YOU know, | know, and
every intelligent man knows that the re-
pudiation of an unconstitutional and un'
just debt will injure the reputation of thu
State in the estimation of 10 man WhoSt
good opiai0n is worth having.
Mississippi repudiatcd an unjust debt
and those elegant gentlemen who make II
a business to bride state Legislatures anC
rob the people never weary in abusing
her. But what has been the result OF re
pudiation in Mississippi? 1t has been hen
salvation. Her public debt to-day is saiC
to be emily S3,j0OOOO, when it might have
been $ 10000 900 if the rogucs had not been
afraid OF her.
Now, let every Southern State follow
the wise example of Mississippi. LEI
them stand upon their rights and rcpudl'
ate every unconstitutional debt. for this |!
the only way of temporal salvation tina
is open to the people of the South.
The Democratic Convention recently
held in Nashville adopted II platform il
which they say that they are in favor o
the payment OF the just debts of the State
Now | am in favor Of this myself. Bu
the point that | make Is that the larges
portion Of our public debt bcIh% uhcohSli
tutional is therefore unjust and should no
be paid. ,
On Monday, the 18th Of October, will adj
dress the people at the Courthouse in Win
chester, and. in the course OF my remarks
will call their attention to one Of the mos
important facts i'll the political history o
mankind. A Quarterly Term of the coun
ty court Will commence on the 9th OF Oct0
49,. a.I .,., ..t i,n, - trpt, Ill ma rt. nf h
county will be here. The other candidate
for the Legislature, it is expected, will als'
be in attendance. And no better 0pportu
nifty could possibly present itself Tor tn
people to sit in judgment upon those wh'
wish to be their representatives.
Truly your friend.
JOHN K. BEAsLEY.
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