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Domestic News
March 5, 1842
Southern Shield
Helena, Phillips County, Arkansas
What is this article about?
Editorial lamenting state repudiation of debts as swindling, humiliating to honest Americans and tarnishing national credit in Europe.
Clipping
OCR Quality
95%
Excellent
Full Text
REPUDIATION.
The most humiliating news of the day is found in the progress of repudiation. Humiliating it is indeed to every honest American. Swindling among individuals is bad enough, but when whole States, by the authority of their Legislature, declare to the world that they mean to swindle their creditors out of the money they owe them, it is cause of the deepest sorrow to everyone who loves his country, and would have her keep her honor untarnished before the world. It would be less painful to the honest portion of the people, if Europeans would or could make the distinction between the repudiating States where the majorities are honorable men. But no such thing will be done. In Europe we shall be called a nation of swindlers. A few years ago--before the Goths and Vandals obtained the power of the Government and distributed the spoils among their hordes--American credit in Europe was above reproach. The honor of the American merchants was proverbial--All American securities was held good, and the nation at large was respected. But times have sadly changed. The American name is tarnished with a blot that it will take many years to wash away. In the words of the poet,
The stain of crime-the stain of crime,
Blushes in vivid freshness there-
Not even the coursing flood of time,
Can make that foulest plague spot fair.
The most humiliating news of the day is found in the progress of repudiation. Humiliating it is indeed to every honest American. Swindling among individuals is bad enough, but when whole States, by the authority of their Legislature, declare to the world that they mean to swindle their creditors out of the money they owe them, it is cause of the deepest sorrow to everyone who loves his country, and would have her keep her honor untarnished before the world. It would be less painful to the honest portion of the people, if Europeans would or could make the distinction between the repudiating States where the majorities are honorable men. But no such thing will be done. In Europe we shall be called a nation of swindlers. A few years ago--before the Goths and Vandals obtained the power of the Government and distributed the spoils among their hordes--American credit in Europe was above reproach. The honor of the American merchants was proverbial--All American securities was held good, and the nation at large was respected. But times have sadly changed. The American name is tarnished with a blot that it will take many years to wash away. In the words of the poet,
The stain of crime-the stain of crime,
Blushes in vivid freshness there-
Not even the coursing flood of time,
Can make that foulest plague spot fair.
What sub-type of article is it?
Economic
Politics
What keywords are associated?
Repudiation
State Debts
American Credit
Europe
Domestic News Details
Outcome
tarnished american credit and reputation in europe, seen as a nation of swindlers.
Event Details
Progress of repudiation by state legislatures, declaring intent to swindle creditors, causing deep sorrow to honest Americans and loss of national honor.