Farmers' gazette, and Cheraw advertiser. (Cheraw, S.C.) 1839-1843, January 05, 1842, Page 234, Image 2
deposited with the Slates, trust funds,'
Miid indemnities, and the amount due,
from Iwnk* which tailed in 1*37.) was, as '
Minted in the repoit of the Secretary of
the Treasury submitted co Congress on i
the 3 J day of June lust $'.187,845 (13
The receipts into the Treasury
duriiij; the first three
quarters of the present *
yenr amount to $ >3,407,092 52 i
Vi*: I
F.oin customs $10?47 557 44
From lands 1,104,063 00
The remainder from
various sources treasury
notes included 11.515 47*2 02
The receipts for the 4th
quarter, it h~estimated,
will amount, to "* .$0,943,095 25
Making thefofal estimated j
receipts for the-yeaf $30 410.167 77 '
And, with the jwlanoe" ih j
the Treasury ou the 1st
of January last, an ag- ;?
gregate of- vv. * '31 397 512 80
The expenditures "for the
three first quarter* j>f the
present ygAf'tfave amounted
to ' >> " 824,731,346 97
The.> expenditure* .for the
|th quarter jare estima-. v
ted, on data furnished > j
bv the respective depart,
ments, at - 7,*290,7*2*2 73
Viz j * ;
Civil, miscellaneous,
and foreign inter,
course ' $1.581.*205 44
Military service 3.109.733 54
Naval service , ' 1,966 560 80
Interest on loan 70,000 00
Principal and interest
on Treasury notes 505,183 95
Making 32.0*25 070 70
And Icavms a-deficit to he
provided for on th : first
January, 184*2 $6*27.557 90
It heing essential that this deficit, nri-.,
sing from the failure in eff-rting more i
than a portion of the loan authorized by ,
Congress at its last session, should he pro.
- * ! * J ' " 4v?# nrkAM r I ikkl/vil t llu (if j
Vl lt'n MM 11V IIICTflJi* KII11 uncial UV/ ?u u.n.u
available, it is recommended (hat nn immediate
issue of Treasury notes be authorized,
to meet the emergency.
II. Of 'hp. Estimates <f ihe. Public Rcoc \
nue mil Exprhlilurcs for 'hr t/rar 1 182. J
Tiie receipts for the year 1842 are estimated
as follows : . J
From customs 819,200.000 00 j
(Arising from duties accruing
in 1841,'and
payable in 1842 80,400.005 J
From duties adorning
and payable in 1842 815 000 00.)
Treasury n<Mes<? * * 50,000 00
Miscellaneous sources 150.000 00
19.2U0.U0D 00
From which deduct the estimated
deficiency on
the first of January 1842 627.550 00
T Mi'inn ikic am/.iint onnti.
" "H "I'l"cahle
lo i he service of
the you 1842 18 57*2.440 10
The expenditures far the
v?*nr 1842, including
$7 000,000 for the r??.
deit.plion of Treasury
note*, are estimated at 82 70! 010 78
"i !- ' i
I
Leaving to he provided for
thia amount 14.218.570 68
To meet the deficiency in the year
1*42, amounting to $14,218,570 68. if
is respectfully recommended to .Congres*
to authorize? '
I. An extensirm of the term within
which the residue, not yet taken, of the
ui.ili/ir.Tu/l wKuil ku r?r1#?in.
I"'<111 qncnu^ niiKimiaiiii .... ...........
aide, amounting to, say 86 500.0(10.
2. The re.jh.Miie of the Treasury notes
heretofore authorised by law, aino inting
to 85.000 000.
3. 'Hie balance still required, of 82.71*.570
68, together with an additional
sum of 82,000.000, (a surplus deemed
necessary in the Treasury (o meet emerjf*
tit* tea of the public service.) lo be sup.
plied rmm imposts upon such foreign ar.
ficles imported as may he selected, with
due regard to a rigid restrietion in amount
to the actual win Is of the Government,
nd a proper economy in its administration.
III.- Readjustment of the TarifftKij
hon/t ?hi? Socri'^n' of the*
L' ?II? ??fv . ? -
Treasury, adverts to the change to bo el*
Acted in lh<? collection of imposts af'er
next June, according to the act of 1833,
which requires cash payments, instead
of credits as have hitherto been allowed; j
and he advises the continuance of thin j
provision of thai act. He next adverts
to the provision of the same act which :
requires the iin|?r?sts to be collected ml va j
forton* or according to the value of the j
I
goods at the ports where they are entered.
The Secretary prefers specific to j
iid valorem dutipu. and dwrlL iinon the
.... .... T I
difficulty of adjusting ad valorem duties ;
according to home valuation, on account i
of the ever varying prices of the same
article in (he rn&'kef. and its different
values often, at different porta. Flo advises
smnc change inr the law to otiviar*?
these difficulties.
Discrimination in favor of Mnmif retires.
On this head the Secretary write* a*j
follows:
But. in I he second pla^e. if OongroHv
should Jm of opinion citiier that h<irne
valuation is practicable, or that sonic
equivalent and proper aubstitute may he
foundfor it, the undersigned will not di*?
guise his opinion that it cannot be regarded
us wise, by any portion of the country,
as a permanent system of policy, to augment
the amount of revenue, when further
exigencies may require such augmentation,
by raising duties on all
articles, including those of absolute
necessity, to the lull extent of twenty per
cent., and preserving" that limit, at fhe j
same time, as a fixed barrier against'
higher duties on anv article whatever, j
even those of mere luxury. Such a plan
of revenue, if to hp regarded as a settled
system, appears to the undersigned to be
unnatural and inconvenient, and such as
is not likeiv to promote the best interests
of the country.
The probable effect of the future opera,
tion of the act of iy.*33 upon the munufne.
tures and mechanical trades of the conn,
try, particularly if no home valuation he
established, and no equivalent for such
home valuation found, gives rise to an
inquiry too important to be overlooked.
Ir is fullv acknowledged that all duties
should he laid with primary reference to
revenue, and it is admitted, without IiPsi.
tntion or reserve, that no more moneyshould
he raised, under any pretence
whatever, than such amount us is necessary
for an economical administration of
the Government. But within these limits
and as incidental to the raising of
j such revenue a", nr?uv be absolutely nceessiry,
it is believed that discrimination
may ho meTj, and duties imposed in such
manner us that, while no part of th?
co tiitry will suffer loss <u inconvenience
a most beneficial degree of protection wil'
he extended to the Unor and industry o
large masses of the people, while the wind
j1 country will ho rendered more prospcrou
in peace, and infinitely stronger and bet
ter prepared if foreign war should cone
upon us. The principle oi disoriminutioi
has obtained from the period of the foun
daiion of the (government. In man*
cases it may be found to he indispensabh
to the in'eresls of the revenue itself; am
if, in fixing a system of duties, it consists
with the best interests and true policy ot
the country so to apportion them among
the various species of imports as to favor
our own manufactures at the same time
that the revenue itself is benefitted, and
no injustice done to any, it would seem
proper and wise to reject arbitrary limits
an I the idea of a forced and unnatural
uniformity.
Thw unJersignod feel* no difficulty in
admitting that a duty of twenty per cent,
ad valorem, assessed ii|mui the value of
imported articles in our own ports, would
iii rnanv instances be a rate wullicienuv
high for ihe benefit of the revenue, and also
afford reasonable encouragement to
lioiiie producers of the same articles. A*
to those, therefore, the object of the ad
of 1838 will bo accomplished, if its pro.
visions for home valuation he carried out
by Congress.' But he still supposes that
there are several descriptions of imported'
manufactures and produce, which would
well bear a higher duty than twenty per
cent, upon the home value, and thusyiold
a greater revenue to the (Jovcrnment,
while, in regard to some of thein. it- will
be found that, without such increased dm
fv, the labor of large classes, engaged in
producing similar articles, will be greatly
depressed, if not entirely supplanted.
It is unquestionably 'rue. and well
worthy of remark, that the net of 1833
was avowedly conservative in its objects
and character; and while it was designod
to remove what was esteemed a grievance
by one part of the country,, it was net
intended that the interests of any other
should be sacrificed by tt. On the con.
trnry. a reasonable security was intended
for nil. Its true spirit, therefore, will ho
| hut carried out by acting, under any new
| slate of circumstances, with reference to
: the same great objects, and doing justice
alike to all. The great principle of that
I art was moderation and conciliation, and
this should never he lost sight of. But
I he measures proper and necessary to
carry out that principle may be changed,
if the altered circumstances of the conn1
try call for such change, without any
departure from the principle itself.
. Nothing is more established by our ex!
perietice, and the experience of other
! nations, than that the augmentation of
j duties dots not augment, in an equal deI
gree. the cost of the article to the con[
sinner. In many cases it appears not to
; increase thnt rosl at all. Very often
I the price to the consumer is kept down,
r.ofwithstanding an increase of duties,
[ p ntly bv th?- greater supply of the horn*
p induction, and partly by the reduction of
the price in the foreign market. It is
believed, indeed, that there have been
cases in which the joint operation of the
two causes has occasioned price* to fall
lower than they were before the increase
of duties was In id.
This result in the operation of trade
and business might readily be traced to
it* cables; hut a full exposition of those
causes. a,nd the modes of their operation,
would tin) jnucli swell this report. Suffice
it to say fhaf. when an additional
duty is laid on fln article in a country hi
which that in licit i* extensively consuiried.
the burden always falls in part,
and sometimes, as experience has shown,
altogether, upon the foreign producer.
The foreign producer inuat sell; and if.
1:1 the place of sale, he finds an article
produced 011 the spot which monies into
advantageous competition oath is own
by reason of paving no duties, ke ^f.ill
mtiast sell. and? lor tlie sake of boiug abb;
to do ir, lie must be content to bear the
burden of the duties himself. The duty
home bv the foreign producer iu tfucb
cases is iikeg the charge for transportsthin?it
is something which is necessary '
to i.rnig htm into the market of competition.
Analogous instnnoes occur in
domestic trade. The wheat-grower of,
frd'ana, who . incurs heavy expenses in
conveying his dour to an Atlantic port, J
\
??? I i t
expect* no higher price for it when it
nrrive* there then is paio for flour of the
k*me quality to producer* in the irntncdi*
nte neighborhood. The coarof transportAt
ion. therefore, doe* not operate ao
I much to raise the price at the place of
sale as to dimmish it at the ptace of production.
Now, the great law which reg.
ulaten prices, by demand and supply;' is
j sternly observed in cases of foreign importation.
as in this instance of domestic j
trade. The undersigned cannot forboiir {
to add, that vastly the greater proportion )
of the agricultural population of the Uiiu
; ted States is ohligud to relv mainly upon
the homo market for n Mile of its product*),
although & large part of those products
(wheat, for instance) is such si* often
! enters extensively into the consumption
j of the world. The quantity of flour and j
i Indian corn exported from this country I
: is altogether inconsiderable, in comparis. j
t on with the quantity consumed in the
large cities and manufacturing towns,
w' ich have either entirely grown up or
added Inrgolv to their population under
the influence of laws of Congress, (Kissed
since the end of the last war, upon do
mastic labor and industry. The immense
interchange of products, all being the re.
suit of labor, which now takes place between
the producer* of subsistence and
the population above mentioned, shows
the advantage which ofie class 'is roftbej
>thor, and the essential importance to
both of preserving their existing relations.
If the consumption of flour ami grain in
lie manufacturing districts, especially he-North
and East, decline, tn (hut ex*
cnt there is an absolute loss to the wheat
od corn-grower, since the quantity con*
nmed by them will And a market no*
vhere else. To sav nothing, in this-con*
iexion. of the incalculable importance of
i home market to the producer ol the)
rreat article of cotton, and limiting his
remark* to the grain-growers, alone, the
indersigncd cannot hut persuade himself
hat all will see and acknowledge the
jreat value to that class of producers of
riio Northern and Eastern market?the
mly considerable market, indeed, which
s permanently open to them upon' the
face of the earth.
So long as the policy of other countries
-hall continue to exclude the products of
our agriculture from their ports, and thus
deny to us the advantage of a fair reci*
m-nf-itv in trade, it would appear to he
equally the dictate of policy and of jus- i
tice to our People to secure to them. an,
far as may he reasonably and pro|H*rlv
done, a market of consumption for their
produce in their own country.
Inrrrasr of the Revenue.
I The undersigned is of opinion that the
! condition of the Treasury and of the j
j country demands an augmentation-of the)
- revenue. It cannot hut he the true poli.
ey of the Government to extinguish the
amount of debt now existing as soon as i
practicable, and to avoid increasing it. j
The creation of debt, bv loans and other
resorts, for revenue to supply deficiencies
of regular income, cannot but he rngii filed,
in a lime of peace, as injudicious and oh.
jectionalde. The genen.1 Credit of the
Government, always good, has been great,
ly raised, both at home and abroad, by
I the fact that it has fully paid off and di*. i
j charged the debt created hv the Rcvolu- j
! (ion and hv a subsequent war with Eng. j
land, and wars with the Indian trilws.? j
| The preservation of this high credit is of j
the utmost importance. It must be the
! necessary reliance of the Government.
j if, in the vicissitude* of htunHn affairs,
| sudden war should come upon us, requiring
large and immediate expenditures.
; Ivxact punctuality in the payment of in ;
terest. while the debt shall continue, and
i its payment so soon as (he time of pay.
; ment arrives, as well as the known ability
jand honor and of the Government, arc the
! means of inspiring that general confidence
which shall nl all times enable it to
use its cr?dit to the greatest advantage.
The estimated expenditures of the Gov.
ernmunt for the coming year will exceed
its probable income by 814.211570 fl8. |
'Should Congress authorize a reissue of
Treasury notes to the amount of $5.0lH).*
000. and the balance of the loan he disI
posed of, there will remain a deficit of
$2,711570, for wh'.ch provision must he
? ?? ?... ,
i tiifioc iiv law. Dm ii is nui ,
{I!iat Congress will deem it advisable to i
J restrict the income of the Government
j to the precise amount of its expenditures
There outfit to he :? surplus of at least
J two millions, to meet unforeseen ernor!
gencies in the ptiblic.scrvice* and, should
even the proceeds of the sales of the pub.
lie lands he withdrawn from the Stales, n
reference to the receipts from that source
in the lost and present years will show
that a deficiency in the revenue, to meet
(he wants of the Government, must still
remain, The
state of the notional affairs, the
disposition of the Government, in which,
it is believed, the People fully participate,
to put the country into a respectable statr
of defence, and especially to support ami
?treiigthon the military marine, ail appear
i#? sinnrnsi the nrourietv of such increase i
?rtr* I I
of duties on articles carefully selected as.
while the amount .shall not hear hard on
individuals, by limiting their customary
enjoyments, nor oppress norderange the
general business ot the country, shall yet
supply the Treasury, not extravagantly
or excessively, but yet reasonably and
justly for all the great purposes of national
defence. Economy, that great public
virtue, which is so essentially proper to bo
, practised by republican Governments,
would be but half exercised if, while on
the one hand it avoids nil unneoessnry ex- j
pindilurc, it does not on the other make a
reasonable and judicious provision for
such expenditures as are unavoidable.
Ail which is respectfully submit ted.
W. FORWARD,
Secretary of the Treusury.
Jlon. J. White,
SycuUt House of Rcj rcuntafijes*
* .1 *, .*
SHIPWRECK.
Geo Town, IV, 29.
Tlie Hchr. Swann. W. P. Leal, from .
Norfolk hot i rid to Kingston, Jamaica, on j
the lOrh itwt. when sctiddrng across the i
guiphstream, in h^tivyweather suddenly
sprung a leak, and in seven iiiimitea Hlfeo-J
to the deck, andobliged the crew To lake i
to the - rigging for tlie preservation of
Iheir lives, where they remained Jivednya
aft J. night* in the greatest suffering, exposed
to the severity of the elements.? 1
They '-succeeded in fishing from the fore. '
castle a single ham of bacon, which sits ;
tained them till they were fallen in with i
bv the schooner Green-leaf, Capt. Sleejier j
?who safely landed the Captain and !
crew in this port on Monday last. The
Swann, was loaded with shingles, staves
and heading, and was owned*hv Brown,
Potter, & Co. of New York. No insti.
)r. nee. Observer,
FROM THR CHAKLKSTOX XttRrt'ltY.
" r f
In Mf< Ijrgigiaiurr \>j o 'k. h \ U/ in ?!?< |
The following resolution to reduce the
public debt was offered by iVlr. .Meuwnin- ;
gcr. and after much discmsion was fina'lv !
ordered to be laid on the table by a vole
of 46 to 42.
Resolved, That it is expedient that,
this Legislature should diminish as far as J
possible, the public debt of the. State;
th.it no oeenssion exists for h further Male
of $tate Slock, under the net for rebuilding
the Citv of Charleston ami that the
President dc Directors of the Bank of the
State are hereby required to deliver up to
the Comptroller (JeneraI to be cancelled,
all certificates of stock or oilier obligations
in their possession, issued under the said
Act, which remain unsold.
I
j The following Proteg* was then presented
in behalf of the minority.
The undersigned Representative* of
the people of South Carolina do hereby in
behalf of themselves and of the people
whom they represent, solemnly protest aj
gainst the order of the House of Repro.
| scuta lives, laving upon the table a resolution
to reduce the public debt, and considering
the said ordor as equivalent to a
rejection of the Resolution, they beg leave
respectfully to enter their solemn protest
against such rejection for the following among
other reasons.
1. Because a public debt i* a great
public evil, and ought to he incurred only
i in cases of great urgent necessity.
2. Because the public.-debt incurred
to re.build the City of Charleston was
created te repair one of the greatest eal
amities which the State had ever suffered:
&even und.r so pressing a necessity was
only permitted upon the express guainn
tee of the City of Charleston against all
loss to the Slate.
3. B 'cause the President and Direc
for* of the Bunk of the Stale, having
been appointed ihe Agents of the Shite to
sell the public bonds which minlit he re.
quired to rai.no money tore.hiiild the Citx
of Chirlrsfou, have already mold 626
636, Dol. more than is fquirod for tin
sufferers hy the fire ; dc now propose to
sell 332.795 Dol. rwore ; thereby increas
ing the public debt one million of dollnr>
hevond what waa required to rebuild the
City of Charleston*
4. Because the public debt of ahou
one million ofdollars which bus been np
plied to re build the City of Charleston,
charges the State only with an interest
of 5 per cent, as is secured 1st bv the in
ifix idnal bonds of the borrowers : '2nd by n
mortgage of each Town lot with the
houses built thereon, covered hy a policy
of Insurance; and JJdly bv the guarantee
of the City of Charleston; whereas the
debt which the lesolutiou proposes to re.
ditce, charges the Slate with an interest
'* "* ""'1 ? lin L.:ini<(l r,ut to
f#l h|.\ per v?v*iii? finu in * ? - ?
indiviHiiiiIj?, subject to ait the hazards of
hanking operation*.
5. Bora11mo the borrowing of money on
the public credit In lend out to individuals
whether hv means of a hank or otherwise,
is a policy dangerous lo I ho liest interests
<?f the Slate and contrary to the principles
of Republican Government.
6. Because the property of every citizen
of the country become* pledged to
pay the public debt, and when money
raised by mean* of such debt is loaned
out to individuals, every citizen of the
State is virtually made (be endorser o
the note* of the favored few to whom the
money is loaned.. .
[ 7. Because the Bunk of the? Slate,
when first estiblisked, was based upon
fund* which the State had acquired as
actual capital, the loss, upon which,
through hanking operations, could onl\
affect such capital without injury to the
1 ,
public treasury: but the new policy, now
proposed, of raising money for the Rank
bv increasing the public debt, involves
the State treasury in all the casunlities
and danger of banking operations, and in
subversion of that great principle avowed
by the State, of keeping the public treasury
independent of banks.
8. Because the great facility with
which money can bo raised upon tin:
public credit, has a tendency to seduce
the public servants from their duty, und
so confer upon those who lend out the
money, a secret and dangerous control
over the councils of.thc Slate.
8. Because the experience of the Bank
of the State has proved that its profits
have been diminished as its capital has
l>een increased; that for the last four years.
even without reserving any fund to in-el
future losses, its average rate of profits
has l>eeii only 51-2 per cent.; that the
proposition, therefore, that the State
I should Ihmtqw m ?ney at 6 per cent, to
tend eut ct 51*4 subject also to the usual
casualties of hanking, cunno; fail to re*
I
j suit in loss, which must eventually be
| made good by taxing the people. i
j C. G. Nemminger, Paul Quattlehum, i
j Z. P. Hcriidon, H. H Thompson, i
i J. H. Adams Thomas A Pojm?,
Otis Mills J. Sheppard,
Henry Gaiidin, Wade S. Cothrnu,?
Alhrd, H. B'lin, C. B. Griffin,
Edward Frost, Atkinson.
'Win. T Ellerhc, William Atken,
A- G. M igratli, L. F. R'mme,
James W. Walker, Jas. Chesnut, Jr.,
Geo. Anderson, C. W. Dudley.
J. D. Wilson, J. Washington Rice,
J. A. A'ston, Dan'l. F. Jenkins, j
F. VV. Davie, S. VI. Earle,
John Sehnierlc. 1. Edwin W ire,
1. Wuigard, Rolie-t S. Allison,
Henry Smith. ,
CIIERA1V GAZETTE.
WEDNESDAY, Jaxuarv 5, 1*42. j
The following is an extract from in. j
structions to postmasters issued from the J
Post Office Department during its admin. '
ist ration hv Mr. Kendall, and repeated,
' # I
! under the administration of the Present
Post Master General:
**\ Postmaster may nncln^e money in ;
a letter to the publisher of a newspaper, :
; 4*fo pav thr suhsoriptinn of n third person.
I "and frank the letter, if written or signed ;
| "by himself." i
! "J. T." Next week. j
Tile President's " B >ard of K\ch?. j
! qiier," seems not to suit either party in j
I Coiurres*. W liether it can lie so modified j
j ^ ... _!
as to recive the support ol a majority ol I
j both houses and the President is uncertain.
1 In the House of Representatives of
' Ohio, resolutions have been adopted by a
vote of 04 ?o 0 ill tavor of paying the
I debts of (lie State. j
: I
HKFrBi.tTtox ix Arkansas?The i
s'nte of Arkansas, for some purpose-not j
staled in any aeeonnt which we have j
! seen gave its Ininds into the hands of the !
j I
j "Real estate Hank," chartered hv itself.
; The hank transfered the bunds, in sotne
wav. or pledged them, to the "North
American Trust and Banking Company."
j and this Company sold them to Hoif< rd,
j 6i Co. beyond the Atlantic.. The state,
or at least the Governor of the state, now
objects to paying the bonds, been use, as
| is alleged, its agent, the hank, disposed of
j them improperly; the Hank refuses to
j pay thein because, as it alleges, the com
I panv to which it entrusted them sold
hein improperly, and the holders are like,
ly to he defrauded out of the whole
amount. Toe following is an oxtrac
from the reply of Governor Ykll of Ar
kansns to a leiier on I he subject, I roui the
present holders of the bonds;
"Hut it would he absurd to suppose, and
you mistake lite character of our people,
if you tlalter yourself that they will lame
!\ suiunil lobe taxed to pay hondsh\po'.K
untied to stockjobbers to enable the hank
I lo carry on her speculations, without the
authority of la w, and in express violation
of hor charter."
There is some such talk as that Illinois
also is about to repudiate her bonds, or
I some part of fhi m. So we go. What
ihe result may he in less than a dozen I
- "ou for.rn.ll ' Will Ru.
> Ufl I iiu Uliw V?1M If" ? '. .
ropenn Governments submit to their >uh- ,
jects l)?*if??i thus swindled out of their
money by the sovereign states ?f this
Union? [t is not to he expected. If
ilrilain applies to the Federal Govern,
tnent. it refers th? :n to the states concern,
cu. If ihev are applied to they, hid defiance,
nnd perhaps return soinn insulting
answer. Suppose, then, Britain makes
?. I
reprisals by seizing tiie cotton of Mississippi
on the high sens, or the flour of
Indiana or Illinios, in Canada, or even
invades one of these srates, will the Fed.
oral Government make itself a party tn
the fraud of the state* bv interfering on
their behalf? If it should, a war, of
course, is the result. Will the other pow.
er* of Europe who sire equall) interested
with Britain look oil a* idle spectators in
such u wnr?
An amendment ought to be made to
the Constitution, providing that any iSisite
which shall refuse to pay her just debts,
shall ipso facto he expelled from the ;
Union, and then he required to pay her '
quota of any debt which may at the
itimc be due from the Federal Govern!
ment.
j
TUK LKAVKN WOKK.WU.
i The following resolutions have been
adopted says the New York Evening Post,
I "at spirited Public meetings'' in ''various
counties" of Indiana.
"Resolved. That it is chc deliberate opin!
ion of this meeting, that the Legislature
| of o.ir State should, at its ivxt session,
' REPUDIATE ALL STATU BONDS
J for which tho State has not received bona
I tide consideration, and that the Legida|
tore should solemnly resolve to pay net'
I her principal j nor interest, nor any part
1 thereof, of any such bonds.
j Resolved, further, That it is the exI
pn.23 desire of t liia meet log j that the
nrvxl Legislature aiispcnd lite further\my*
nu tit of the >S atn Bond*, both principal
nnd interest. until ihr. Slult u better able,
to pay; an l that the Ley Mature lay no 0
tax upon the people bc./ond i dial is necessary
>0 defray the nell exptns, is of the Stale
Gorrrnmrnt. .
Rrxolrtd. That I lie Intern*! Improve,
mentm.f Ihm Slate be >ol I to the highevt
bidder, nt auction or puhl ic iHltrrv, the
proi-eeds logo. as far its thtr f will, to awiat
navimr lh<* ntildii* dflit.
r r
Resolved, That payment ought to A?
refused of (lie suspended debt, tod B*r
Governor Noble called lion ? %
Kesoived That no moi r Stat* bond*
be hijp*tfhrcat-d. alias pa ened, /or Itftlfr
more than lialf thuir value, to raise rnoner
to carry on useless wnrk?i and run aiui >
State further into debt;. ~
Resolved, That the salar ies of all public
officers in the statu ought to he imme'lt.
atoly reduced to an economical standard.
' Resolved. Thai a relief or slay lair for
two years, oujh' to he panted immediately
upon the assembling of the legislature*
an I that all debts, ju dgments, executions*
is'ueil, or to he issued\ be stayed until the,
first of January, 1844.
Rewired. That if lite Legislature doe*
not grant relief at a v.?rv tsrly day of tlia
session, that we willa4-errible.at this plac*
on ChriK'mas day. determined that #n?f. public
officers. through force of ptiMte.
opinion, shall resign ilieir different trust,* .. \
reposed to th?*ni by us,*'.....
Upon the above the >?'ew York CspreM .
remarks a? follow*:
44The ^repudiation" principle of 0.#v,
iMcNult, of .Vli.v?i*sip ?i, just put forth,
mc arc pained to sua, ruin like wild.fir*
anion* certain presses io the inferior of
the States we have named. It is preached
as popular, that American Farmers shall
not sweat and toil to pay debts to the na?
j hoh? of England ; and u is a degrading ^
j thought, lhat the idea captivates hundred*
; upon hundreds ol otherwise honest ifitnu*.
i The Farmers, indeed, lire told, Lint these
j unbolts luive swindled th?m not of their
j bonds; I hat I lie plan (o cheat and defraud
| them has been deliberate; and the tHiljr
remedy, therefore, is repniitHion!
The arguments that respectable pre*?*e
| of the opposition, mi- Ii as Ih** Evening
I Po an l Philn elph a Pern^jlmninn,
ha v. put forth, to defend For. M S It
in 1 * pndialion of a pari f lie Bonds
of Mississippi, many of the presses of Ibo
I interior confound as a dof tier of the
whole system of swindling. Tin* imwto;
ralihf o*' final defence, admitting we may
| ho estly differ about the principle, mrrupis
ikr?- whole puNir inind of the imposition,.
'Hie ?(feet of it is to make swindling
a party qu sfion, and to rally what
is railed "the democracy'* upon the principle,
or rather to confound democracy
and general State swindling,
f Let us he understood, however. While
1 we sound the alarm on this point. If
| demagogues mounting and successfully' ?.?
j rifling lliis hohfiv obtain ? temporary trw
. tjiiiph, nmi-i tiie NifilVrriiijfff* of the People,
in I he mi tin* hrenth that wr found fh(i
1 a In rm, wtj pun iuiin Hit abiding and qiii*
<l>>ubtirij^ co ti'tence in the ultimate tecti.
j tndo unci no- ghimxs of th?- People of this
\ Rutin'rv. We lieliovf that in tin- *??*!
every cent. principal and inte'rut of every'
; fcila c l'o nl Hill In*, paid. Honesty ali
! ways fnutnpliri in the cinJ with n R< puklf*
can People. Honor will prompt the*
Smtes when Iwttor able to have in? debt
or claim jell standing again*! til-lit. After
' nil fi^?. tlir whole debt of 2W> tMt() 0<MI ibd.
; lara is hut n tnrir for us a? compared wilti'
j the debt* and taxes of of her nation*. Tins ft.
' Staler now the worst off have in them the
' * ed? of growth nnd progrem Hiiro jjuaran'
tees of interest now left unpaid."
i # r . . ?
I The general ticket lair wf Abiham*/ .
for the elertion of member* of Congre*-,
has been repealed by the Legislature. Thv
question hnd boon submit ti d to the people
at the polls, and they decided by a large
mnjorit . in favor of the repeal. Hero
w? re Ifgi'inm e instruction* from the
j people, mid in a ease where th- V had not
' previno*l\ bound themselves hy constitii*
j lional real rift inn*. ,
i So common hu? it heroin* to pack cut*
ton fraudulently in Louisiana, Mississippi,
and Alabama, thut the Consul of the U*
S. at Havre, Prance, has addressed n let*
i ..v *
ter on the subiect to the Governors of*
I *' .r . r.. . t\?
! ttie.se states, nl the request of the Chamber
of Commerce of lliat city.
??:
| Dr. Willi am Wmtk, of Mecklenburg*
N. C. was drowned on the 28d December
about 27 loile.s below Charlotte, ins
crossing a creek, which had but a littlew
hile before been crossed by his load* d
wagons, It is supposed that hi* horse stumbled
and threw him in the stream,
i In the same county, a man named ^ } .
Jamks Ray. froze to death, on the night
of the 22d. by exposure in n state of intex* .
| ication. - * ' ? ' '
j ? - ./ fT A
d ....t*.. I .? . ? .. 'l\iu MlntA imim Sa
| imuiiri _
lie in progress to a species of Revolution '
J It is still governed by the charier granted ' \
I by Charles th* S'-ennd. in place- ! a ri>n-i
*stitutinn. Frequent ??ttempts have been
j made to procure the falling ef a popular-"*,,
convention bv the Legislature to adopt * '' ??
constitution; but the Legislature ncvef .'r''
! gnve its conswnt. An irregular uiuve. ,
J ment was finally made on the subject
| nmong ti e people, and delegate* Wereappointed
from the different counties who
. assembled in convention some time diu i
ring 'he past year, ahVT famed a cnnstMu*
ttun fur the state. This constitution, ac/
I
m . ' #fl( - v#