National Republican., 1877-10-18
Reputation q Southern Insti-
tuition.

The State Of Mississippi is determined to
stand by its own traditions 1t never had
very high sense of honor regarding its
own financial obligations, and, of course,
can view the good faith of the nation only
through the same optics with which it has
surveyed its own honor. Under the neces-
sites of this GOvernment-which were, to
some extentcreated through the attempt of
Mississippi to break up the UniOn-it pro-
vided for the exigency by the issue of
bonds and currency based upon the national
faith. Mississippi failed in its attempt to
overthrow the Government, and now the
press of the ruling faction of that State
comes to the front, wearing the uniform of
repudation and secession The Columbus
Miss Democrat, after reviewing from its
own standpoint the action of the Govern
ment in the issue Of bonds and paper money
to meet its necessities, indulges in the fol-
lowing slap-dash style of criticism and
argument. It says:
The "bondholdiHg ring secured a monopoly Of The
bonds Tih The prOdtgi0ns culoiURcnts, prir'g,s aud
porcrs mcidHt 10 The ornership. They became II
privileged class-a moneyed aristocraCy-with in
tcrcsts separate from and antagonistic to the in
tercsts Of the body Tho psO6 Of all trades profess
sions and avocatons. Thsy b'ramf our masters!
Had Congress he right to change the original
contract? Is the constitutional provision gllarnn-
ceing the nvolability Of contracts void as to the
rights Of The people, but effective as to the rights Of
The public crcdit0r' May Congress or State Irgis.
lature change at will the terms of public con.
tract to the detrment Of the proLc but never to the
detrimcnt Of The creor beneficiary. lest his vest
ed rights by impaired? Again, appealing t.
Heavens High Court Of Chancery, whose munuta
bic laws are written on tho cOnsciences Of mcn-
the only tribunal before which State or n nation
can be arraigued-the answer c0mts loud as the
thunder tones that pcaled from Sinals hrevcilcd
brow "Np"
But have the people no remedy against such in.
| frmgcmcnts on their rights and Interests? Yes.
No cuurt an "Ith cU cOrc, contract CCrcd into by
q LgiSipir bO'iV dGri,it Sat, nation. 1t rests
with he pso,le to say whether r contract entered
into by lathlcSs, perjured and bribcd public ser
wants shall be performed. to the ruin Of themscl cs
and their pUstcrity. They hold in their hands q
potential weapon effective for defense and re-
dress u right and power sacred and indcfehsiblc US
hc right n rsrOiuiiOn-thc right and power OF TpU-
didtiDnI This word, now hissed in scorn by the
advocates and apologistS of the bondholdinC arI =
| tOcrnCy, and spoken in bated breath by their vic.
Tins aud thralls, may yet prove the slogan cry-the
| I'm Hoe SiiInWm Iino"-to rally the oppressed mil
| lions of America to the battle for dcliverancC 1t
may yet be "ShibOleth" that shall carry us In
safety over the Jordan Of difculty which lies lie.
| fore us It may yet prove the Open Sesame" that
| shall burst the iron door, and release us from our
prison house of woe. It H. as Mr.. JEFFERSON said
OF secession poHicdi drseHir to be used last
resort. let our would-bc masters, our oppressors,
our torturers, depend upon it-ioe wM use asa d't
resort
So, in this early hour in the dawning day
of qualification" we are reminded that Mis-
sissippi is preparing to use the political
arsenic of secession once more as last re-
sort. Under such threats from solid
South" it will not take long to reveal a
solid North" which has not forgotten how
to use the agencies so potent in settling
such questions fifteen years ago. The North
is for pacifcation, unity, fraternity and
peace, but, if they are to be spiced with re-
pudiation and the arsenic OF secession, it is
as ready now 10 contend for them, pure and
simple, as it was in 1861. The spirit of the
North has put on pacifcation, and is wait
ing for developments with much patience
under the Presidents effort to reconcile the
South but fraternity, unity and peace can
never be fully secured by denouncing the