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' g - , , - --, . 72 .;%-• - - --t..--"---. 3 .;' --- .: - -, ~,,,,;..,-..x ;g:r-- -,,r .,-, ~ '3-, 3: , `..• ; :i1L ',, z . : , ... -.' titP ~014.... ~•:'..1,,,,'.''i. ~..,7 . .: :. ::',:17.- ''' . ' V''''' . 4. .1 ::::-F:',.-',.'-'t.r.,-:2-J '--.... ..; - ,...'. , ,f; 1: Z.\,. --.':.V!- -_:,•:.1-1,-.::-.1",::;-- :":-..'=":••=:,%=?...:1`,':::=_,1.7.,;•.. 1-,',....:1* '•;.'. • `4 73. - ` - ,7.< . i z , z: :,==.-.:-,: .': =. q II; '- • , ~....,47:2-N-c-"-;.",5•',,! = ,;.i.;,-, 4:Y:.:77,-!,7-.:,:. , ... "..-;;• • • • • • V"~, __ ;. ' ' MEE =ME . . EIMERE the pail 9 tlost. TUESDAY MORNING: REPUDIATION TORE REPUDIATED. Repudiation of public obligations of debt always tarnishes the escutcheon of any people who attempt it. The universal sentiment of civilizedriationa is that_the public taith must be preservedlnviolable. In the history of the States of this Union, all approaches to ,the repudiation of public debts have resulted in commercial disaster to the comm unities who have attempted it. Some years ago, the State of Missisaippi, through its Legislature, who were the agents of the people, issued bonds to the amount of two millions of dollars, inbehalt of the old Planter's Rai:lk, -of that State With the interest accrued, these bonds now amount to about three millions -of dollars. These Bonds were issued illegally, it is true, but that is not the fault of those who have' purchased them, and the people of Missis sippi are bound, by every honorable and moral obligation, to accept the act of their agent, the Legislature, and make provision for the payment of the debt. California has set a brilliant example in paying its un constitutionally incurred debt. We observe, with gratification, that the Legislature of Mississippi shows a disposition to respond favorably to Governor M' Willie's special message, which we briefly noticed in yesterday's Posr,reeommend ing the paymen t of these bonds. The State of 'Mississippi is a prosperous one. • Its financial position is as good as that of any other State in the Union,for ithas no constitutionally incurred public debt. A tax which would scarcely be felt by its thriving' citizens would pay this debt and relieve the State from the stigma which its repudiation has for many years thrown upon its character. Governor 31'Willie has set a brilli:int ex ample to those who woulci,if it were possible, refuse to perform public contracts, in this community. Here, the: contractsof our municipal bonds, issued to railroads, have been decided to be legal, and our courts have ruled that it is the duty of the people to preserve them inviolate. Here repudia tion would be against law as well as against honor and morality. We are glad to observe that public sentiment on this subject, which for a time was misled by demagogues, is fast assuming a healthy tone. The hardship upon us is.great,