Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1878-03-07

A LEAF FROM HISTORY.

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A LEAF FROM HISTORY.
THE REPUTATION OF MISSISSIPPI, PENNsYL-
,a... vANIA AND OTHER STATES.
The generation which in 1889, 1840, 1841
and 1S42, shaped the legislation of Missis-
sippi, Louisiana, Indiana, Illinois, Michigan,
Maryland and Pennsylvania, Estates which
totally or partially repudisted their debts,)
has passed away, and have left behind them
no history of their acts. Nor were they anx-
ious that one should be written. Notwith-
standing they cloaked their conduct under
the excuses of open and palpable fraud, of
constitutional violations, Of the unprecedent.
ed pressure of the times, yet they each and
all felt that they had violated the living, the
indestructible rule of right; that they had
smirched their bright honor; that they had
availed themselves Of their own wrong, or of
the wrong Of their agents, and had inflicted
upon others the losses that they themselves
should have bravely borne. They felt that,
however plausible and sophistical their pre-
texts, they had disgraced themselves and dis
honored their country and not apprehend-
ing that the future could, by any possibility,
develop followers of their bad example, they
and the country at large were solicitous that
the memory of their acts should pass away,
and that the disgrace of the States and the
shame of the nation should be forgotten in
the hush of silence and in the oblivion Of
time. 7!'l "l is>itf f..a
The States that went astray in 1889 and
40 were led into error by the subtlety and
the sophistry of those who pandered to the
prejudices Of the masses, and promised them
Immediate relief from their burdens and the
States that are now treading in their footsteps
are those that are beguiled by the plausible
expedients of politicians that seek to remove
present complaint by the substitution Of a
future and permanent grievance. JaoitraH ~
The impression is general that some of the
States mentioned above besides Mississippi
repudiated their debts, but it is as erroneous
as it is general. Mississippi is the only State
that openly and publicly disavowed its debt
Of the other States some, for time, refused,
and others, merely neglected, to make any
provision for their accrued and accruing in
terest but this, under the influence of the
Mississippi discussion, was spoken of and re-
garded as reputation, and so direful was the
influence and so pernicious was the effect of
their acts-so tarnished was the honor not
only of the States, but of the General Gov
ernment itself, that it could not in 1912 bor-
row cent in the whole of Europe, though its
accredited agent sought it in every monetary
centre upon terms the most liberal and ad-
vantageous to the lender, and that, too, in be-
half of government that had only year or
two previously Gn 1880 exhibited to the world
the hitherto unknown spectacle, among mod
ern nations, Of a country without debt. But
Notwithstanding this fact, marvellous as it
was, and unprecedented as it was acknowl-
edged to be, the agent of this country had to
return with a mission in no part fulfilled,
and with, confession that the great Power
that sent him abroad stood in the eyes Of the
world disgraced because one of the sisterhood
of States had repudiated her debt, and others
were denying their Liability for portion Of
theirs Rera Glaot;ae.-tAA>.-Ahesa..a.
sufficiently to pay what they owed. 1t is i'm
possible for US, who were neither the max
ers nor the readers Of the history of those
times, to know the horror of the world at the
action of the defaulting States 1t can only
be conceived under theulight Of such facts as
those mentioned by Mr.. Grigsby, "thata friend
of bis travelling on the Continent of Europe
had TO get out pass with the papers of an
Englishman, in order to avoid the torrent of
calumny that assailed every American" and
by Mr.. Lamar, that during the late war he
and Mr.. Mason and Mr.. Slidell found that
the greatest obstacle in the way of financial
recognition of the Confederacy, was the fact
that its President, Mr.. Davis, was Missis-
sippian, and that it could not float its loan
until it disavowed the action of that State.
Not only was this action remembered then,
but we find it still retained and puissant now;
for Mr. Lamar declines to become an agent
to the capitalists of Europe to induce invest
ments in and immigration to his section, be-
cause more of his time would be occupied in
explaining the disgraceful conduct of his State
than in pushing the enterprise of his mission.
Here we find that the position of State to-
wards its public debt, thirty-six years ago,
now restrains its most distinguished senator,
everywhere known and honored for the bright
chivalry of his character, from occupying
post of trust and honor amongst foreign ma.
tions, when that very post would rebound to
the pecuniary interest and material prosperi-
ty of his State and section.-Rschmond Dis
patch.