The Texas Republican

The Wrongs of the North.

A writer in the New York Times not easily to be suspected of favoring secession makes a forcible plea in that journal against the repudiation of the war debts of the Southern States as a measure essential to demonstrate the returning loyalty of the Southern populations. In relation to the state of North Carolina this writer says: A very large part of this debt is held by thorough Union people, who are loyal now and have been loyal since the commencement, and who will be rendered penniless by repudiation. Such a measure will absolutely destroy every bank savings bank in insurance company and other moneyed institutions and ruin their stockholders. No man in North Carolina bonds or take Confederate bonds. They were by law compelled to surrender their specie and take state indebtedness. One of the most outspoken Union men in North Carolina who would have been hung a hundred times had he not been an old man and very popular in the whole western portion of the state who was and is the cashier of a savings institution, and cashier of the branch bank of the Cape Fear Bank, when appealed to for his advice as to investments always counseled that parties having money to dispose of should put it into State bonds never dreaming that it could or would repudiate. If repudiation in toto is insisted on thousands of innocent parties widows orphans church and benevolent funds men who never forsook their duty to the Government will lose everything. Is this just and necessary?