Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1885-07-11
0be lalfaster 1ntflliaenfer.
LANCASTER. JULY II. 1856
The Regulating states.

The Philadelphia Times is disturbed |
lest the influence of the boRdholders of the |
repudiating states should be used to secure |
a adistribution of the surplus revenues of the
country among The states its text being
a newspaper story that the bondholders of
Tennessee propose to ask Congress to
make such distribution of the surplus
revenues, and to enact that the share Of the
repudiating states shall be used TO redeem
their bonds. There is probably no founda-
ti5n1 for this statement, save the reflection
that it is manifestly to the bondholders' in
terest that fund should he thus provided
for their payment. They are not likely,
however, to urge their ill-treatment by the
states as reason for an appropriation by
Congress to the offending states. Congress
would be little likely to feel like putting
the national treasury between such states
as Tennessee and their financial dishonor.
No one outside the repudiating states dis
putes the disgrace they have brought on
themselves and the national fame by their
dishonorable refusal to redeem bonds to
faith and honor. They do not deserve re-
ward from iteration and it will not be an
effective reason prevailing upon Congress
to distribute the surplus national revenue
among the states, that there are a number
Of them who have deliberately dishonored
their obligations. If such distribution
should be made, the demand of the holders
of repudiated state bonds that their obli-
cations should be paid by the United
States out of the fund going to any state,
would be just one that Congress would
he likely to recognize; yet it would
feel that the bondbolders' ill-treatment
! was net cause for the appropriation, but
for the Withholding Of it. SO that IL is not
likely that the bondh6lders will present
their suffering to Congress as an induce
meptto distribution of surplus reve
nnes.
There would seem to be need that Con-
gress should take some action looking to
waros the removal from the nationa
fame Of the stain of reputation which
rests so heavily upon il because of the con
duct of a number of the states, the mosl
prominent offenders now being Virgins
and Tennessee, though there are others
>~hoth North and South, in their company
In Virginia the United States courts have
come to the bondholders' aid, and other
help they seem to have none all the politi
cal parties having abandoned them to thei
fate. In Tennessee the courts and tn,
people both have sat down on them.
There seems to be no salvation
for the bondholder when the ques
tion of paying him is submitted
to the people who pay. They yot'
with enthusiasm that they will no
pay and only corporal's guard can b,
mustered in state to say nay to the mos
fragrant violation of its plighted faith
Doubtless it is human nature. Probably
any aggregation of debtors would vote not
to pay il there was no way Of making
them.
There seems to be no way of making 9
state pay; and, as itappears that its people
may refuse to pay, even when they un.
deniably owe, the question arises for the
nation whether it is going to stand the
stigma of this popular weakness.