The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1875-03-17
THE pnRLIC DEBT,

The bill TO which NC called attention ~
our last issue has passed both Houses Of the
General assembly, and is now law y
Il ccnsummaticn 81 hope long cherished |
that North Carolina would be freed soon
from The teprcseb resting upon her for the
fefasal or delay in meeting obligations
which tbs common sentiment Of the world
would attach to her. Il WIS an obllca-
,ioa which no plea q losses Or Of poverty
would weaken. II was an obligation sus-
tanned BY the admission Ct fall value re-
ceised ia times gone BY ard 1t was an obi
yatiCu which The honor. and future prosPe-
rity of the State compelled It 70 sustain.
Individuals. may become bankrupt. may
fail, may esade their debts. But they pass
away. they perish. and ,hes are forgotten.
But State. is Luihanly speaking i:nPerish-
able. Il lives or isdesigued to live through
many generations Of men. These impress
their character upon the indestructible but
impossible body polite. II IS therefore
no light thing. and for transicn. causes to
legislate stain upon the character Of a
State. which may IN time be weakened but
can never be efaced.
The settlement Of the question was then
u krst importance as q matter Of public ho-
nor, and, as immediately connected with
this, msstef Of general welfare. For u
is certain that with on Immense debt ppli-
qpidated. and no aPPrSash. Y settlement.
Cur State would be eiEecsually closed
against snyliuscsnneut Of capital, Or Any
applicable increase Of pVpuistiOn, fVfneith.
er the one or the other would come wien i
or they might become the victims Of ppeeFi
,sia or oppressive taxationOrio Of Sunderland
unexpected legislation. ~ aa'i'ss's 49,
Aud the people expected isand demsbd
ed it. They we're not ailling to bave
subject, 50 full Of undefnable apprehension
and injurious uncertainty hanging Owe
them any longer. They wished 70 knot
the worst at once and 10 meet il, Andih
Legislature has met its duty with due re
gard. as wellto the ability Of the tax pay
or, as to the demands Of the creditor. an
compromising between the two has impose
burden on toe people not too heavy |
bear AID give the creditor such ProPol
ton 81 bis dues a. seemed justified BY Il
actual condition of orr available resources
We know that ifthe State had been able
pay, she would have paid all her just deb
But Der assessed property Is now sl4S
100000. against upwards q SlOo- 600, o.
before the war. and We think the corbpr
misc made i in fair proportion to her ali
hy. We have shown that really the bu
den Is comparatively a light one. not to
feis fos two years % come. and tben'with
pressure % gertle that il will hardly befel
Aad We ale sure tie PEOPLE Of North Z
roiiha will feel elesa,ed 81 The though: th
they have redeemed name ouee held
such distinguished honor throughout .
world. she has escaped the igrominio
aud ineHaceable brand ofrePudiatiye. S
has 10 longer any bittersr rePrOach ID
that Of poverty. IIef good name is Pi
served. aod that iscspital enough, in Stat
rs wei. Is IN iudiyidusls to retriso the &
tunes in iLs direct necessity.
NEW HAMPSHIRE ELECTION
The frst gun Of tbe campaign Of Is
has Leen cred. and the Democrats have
reason 10 be Disappointed at is effect.
has shown the strength Of the Demccra
Organization 10 State which 81 late re
bss been debsteabIe 20 ~ extent IS aiwi
todraw TO il the intense interest and eTp
tasion Of be other States Of th3 Union.
has shosB tho power Of tast organization
resist not Ouly The iutsrOal strength Of !
Republieaa but al lbs soperadded inf
eoces IL Administration interfercBce.
was matter o. most serious BomeDt v
ne administration 70 eouutersct ~ tie !
cess 10 New Hampshire The damaging
fects q is late Wild snd uneOpstItnsiO
acts and 10 create ihs impression, byob,a
ipa II possible TIE endorsement q the +
STATE 70 vote. that Is bad been unjust
snultsd.
ride peHosrab taa besd able mer
70 hold their own sgainst such odds.
woala have been gIOsy euOsgh 70 y
44 n ~. ..s1 ~. ,,rk N, 4,