The Russellville Democrat., 1880-05-06

any more than legislative enacttnents properosf the State can. This has been decided by the courts over and over again, and you will find the question fully stated, with reference to decisions, in Sedgwick, on construction, page
 6S7 (Pomeroy's edition,) and Black,
 U. s. Reports, page 449. We all re-
 member, for exampls, how abortive the efforts of many persons in the South, after the war, manifested in State con
 stltutions, and State laws to vitiate for
 ever contract for the purchase of slaves before they were freed, proved to be. This would end as they did, if the contracts are valid, or are contracts in law. If they are not legal contracts
 there is no necessity for repubiating
 them for they could never be enforced l Indeed as to enforcing contracts
 against the State, see how secure she is! The eleventh amendment to- the constitution of the U. $. shields her against suits in the U. s. courts; and art. 5, sec. 20 of her own
 constitution protects her against them | in the State courts. So we are remit
 ted at lat to the only proper tribunal, the legislature. which by art. 16, sec. of the state constitution is compelled to
 provide for the payment of all just
 and legal debts of the state.
 The legislature representing in law
 the constituency that selects it-the
 people of the state is supposed e
 know, or to be able to ascertain the just and legal from the unjust and ille- gal, and to know best how to provide
 for the payment of that which should
 be paid. In the nature of things, under
 our form of state government. this
 could not be otherwise.
 Arkansas has not paid interest on her debt for more than about five years, all told, and she cannot be coerced by legal process to any further payment.
 Why then the necessity of this step
 Of course her debt ought to be adjusted
 and put in shape, at the very earliest
 possible day. And have never doubt
 ed nor do I now doubt, that when she
 can show her ability to pay interest on
 any new bonds she may issue, she
 would have no difficulty in getting her
 debt Gown to about what in justice and fair dealing she really owes, and with
 in her capacity to meet it promptly. Alabama with debt in many of its fea-
 lures, like hers, made such an adjust
 ment, and other States have done the same.
 Not long since the good old county | of Clark, in fit of desperation over her large debt, attempted to commit
 suicide, and partially succeeded; but the supreme court of the State resusci- tated her and made her breathe once again, and she went to work, compro-
 missed her debt to her satisfaction, and
 still lives and is doing we'll, learn.
 The State can do just as well without
 any attempt at self-destruction.
 1t is not worth while to enter here | into discourse upon the evils of re- pudiation. They are known to all, and
 are so universally abhorred that it ia | doubtful, if in any case, a people are at
 liberty to resort to it. No after efforts, no handsome explanation can ever
 thoroughly wipe out it's blot. If this offered amen dment accomplished all it's compass indicated, the benefit, | fear, would be too expensive-to dear | ly bought. It should bs borne in mind that, while all agree that it is of the | first importance for the State to pres- srve her honor untarnished for all
 time it is particularly necessary for Arkansas to do SO, if she hopes at any | future period to make fair and proper
 compromise with her creditors, of the heavy indebtedness resting upon her. With q repudiated bond outstanding, creditors of the State would not be apt
 to take new bonds to risk like fate
 nor would these new bonds command
 in the market large premium. A
 fair and frank showing of assets with a
 disposition to do what is proper, will
 save the credit of the State, and put
 her in position to meet her just obliga-
 tions, and to prospsr-and know of nothing else that will.
 could extend this letter much fur
 ther, butt suppose you want merely
 my general views, without much argu-
 ment or illustration. 1 have not the time to enter fully into either.
 In law it would be an empty and fool ish act; in State policy it would be equally foolish if not disreputable.
 And in assuming this position, do not commit the State to the payment of one dollar of unjust or illegal Indebtedness, of which the legislature is always the only rightful arbiter on the part of the State. Your friend,
 A IT GApTANn