How far would it differ from this if
constituencies should choose their representatives, not for their
integrity, not for their capacity, not for their past services, but
because of their ability to get money from the public Treasury for the
benefit of their local interests; and how far would it differ from a
purchase of the office if a President were chosen because of the favor
he would show to certain moneyed interests?
Now that fanaticism can no longer inflame the prejudices of the
uninformed, it may be hoped that our statesmen will review the past, and
give to our country a future in accordance with its early history, and
promotive of true liberty.
[Footnote 192: These bales were the security for the foreign cotton
bonds, and were seized by the United States Government. Was it not
liable to the bondholders?]
[Footnote 193: The facts with regard to the Mississippi "Union Bank"
bonds may be briefly stated as follows:
The Constitution of Mississippi required that no law should ever be
passed "to raise a loan of money on the credit of the State, or to
pledge the faith of the State for the payment or redemption of any loan
or debt," unless such law should be proposed and adopted by the
Legislature, then published for three months previous to the next
regular election, and finally reenacted by the succeeding Legislature.
The object was to enable the people of the State to consider the
question intelligently, and to indicate and exercise their will upon it
by the election of representatives to the ensuing Legislature, whose
views upon the subject would be known, and with such instructions,
express or implied, as they might think proper to give.
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