, 1875-12-17

The recent discussion OF tho population Of
State debts. aud the scaling" thereof, Nhieb Ia
Reputation undeF smother name, Ia attracting l.
good tlenl Of attention, aud has nuvRostod 70 an
Ingenious correspondent the following inTn,ry,
wh,ch eousaius ins. eaounl, Of suggestive Jus
tics to be calculated to nullond. 1he nature ol
tho aueuion will be best understood fun I
roadns OF the communication entire:
, &c. r. ,t % rFus 'S"to 70 u, orsce, 70, a1
a'on It hsr debt by the sl.se Of Taunessee, a'omt
waIrb you have br ct / rial tod.S. sire to ak
ss esiiten. u eonnry wen ss
IT, or At eit prae'i aly, sepudIates-as seems to 10
turer. tint Lefs telng t,!bunsi or otl.er mis-
through wolch the creditors coul obt.in or eniprco
pssat t. ls as y esu II os
cfcaitors we're citikens hnt ~ acting On ihnr bol
10 5n.nh. q IN c'tnrollins ,p'en oven thoA9a II
Untssd 4tes 10 morally entitled to iaterfpre. uni
upon a4aum! ton Of Tho debit t.ink luis quest Ion
Is m in'e,e: ting one, mi worthy Of full anav:s
ssT sSa of the Idea osua Rsosnsa sors ls
Without intending to rallase State ropudia,,on on
In any form. which IL at once crime and 11a-
tional Disgrace. II must 30 remembered tbat aor-
olsn Governments bave no direct communication
with cur State Gove ntuents, and any grier sns,s
they may have asasnst ANY one Of tho Units i
8tasas must be redresseu through tile rcguiar
d1ptonAt1e chauutls With tho Natfonlf qovor1l-
ment. Tho daclara ion of war IL = matter wlab
each nation must determine fos itsetf; 4na, II
nnv foreign nution shoaId choose 10 domausl Of
tho uo,ted States Government that 1t pay the
dobt Of any sta:o that has repudtated it's obItgt-
tonB or 10 10 war In caRo Of refusal tl1oto ts no
question bu. the United 5:atea void Il. zllt Rrst,
and determine tho Justice Of tho c.se Afterwards.
Tha statuP Of American States IL worry nt,t koown
abroad. They are a BOIL OF tublic cor porat,ou,
40 far as assets and liabilities ale Ct 'ncerucd.
There 10 no moro reason why the Mario nn1 Gov
erprneus should bccano Gunrantor OF their
dohts. either IN fact or princl lo. thar Tor the
debts Of cities, countlos. towns or Vi villages, or
individuals. It would he moat danRc xous snd
costty prccteut II tho United S,ateh Ri ould ever
aBsuno responsibility for btato debt 3. leaving
to tho Staten full power 10 couti! net these
dobss. It would bo very nneh ns though 3
man of wealth and good crodit eh au1d pick
out tlfrtv-Hoveu young men Of dfsaulu to propen-
a,&lae tell ten to contract dobts to IL cir hearta
content. aud snnounoe to tue world that he
would paw tIcEs debts II tho contracting parties
should fail to doso. Thla plan would pabout the
very woras that could bo alopt:u to check tho
growth Of local indebtedness in tL b country.
Meanwhile II Ii probable thai foroi. IN Cavern
menfs viii encourage capitalists to pl ptact tlicn-
selves by The usual meaas known to commerce,
instead OF tesoFt,ux to war and 1t ~ to be loped
| that neither Slate Governments. rt1 nlunicirAl
Qosernmentt, nor corporations will do anything
| 10 bring the American credit Il ITO tllarepute
| abroad. Those who DO will DO tho grestest Buf-
| fcrars from their bad faith. though The rntro
American 1eople must shase tho di IL AGO and the
| ponaltv Of dnauclal diacradlt to eomo extent.
Honever dsARrseable ths mar b's. 1t does not
tuslifs In the romotcst dcgreeany action by Uhtcti
tue General Government mny 10 regarded a.
\ guarant,r OF sny dcbts except 'ts own.