REPUTATION IN MISSlSSIP PI.
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#. NJ. Tucker, the newly elected Gov
eernor of Mississippi, was inauguraed on
the 18th inst. In his inaugural address,
we find the following rather equlvocal
passage in regard to the repudlaled bonds.
There seems to be lingering feeling III
favor of paying the bonds, as "malter
of policy" even though there be no ''le-
gal or molal,'' obligation to do SO. We
incline to think with the Cincinnati Re-
publican, that the final resolve will be
"That though this State be under no OBJ
ligation, legal or moral to pay, yet as
,'matter of polcy,e she will and does here
by agree to pays" sc. But to the ex-
tract


ss1he question as TO the liability by the
State; on account of the Mississippi Un>
ion Bank, may obtrnde itself upon your
consideration. For myself consider that
important question settled by the highest
tribunal known to free government-l
mean the people themselves. They have
decided in effect that the transactions
connected with said Bank, both in its in
ception and fnal consummation, were not
governmental, but were OH the contrary,
individual! transactions, performed net on
ly without the authority Of the conslitu-
,tlon of the State, but contrary to the eX-
press provisions thereof; though should
the Legislature feel under any obligation
either legal or moral, (Which | do noD OF
should deem it matter Of policy to dis
charge this obligation, and should deter.
mine to assume and pay the debt or liza bi,
lily..'lhe constitution Of our State has pro.
wided mode by which the debt or liabi
lty laay be assumed and paid as it has lol
ahe assumption and payment ofaay other
individual debt or liability, viz: by pass
sing law for that purpose, in the mode
prescribed in the constitution, pledglns
the faith of the State for the payment o
the debt or liability, and re ierring sucl
law to the next Legislature, SO that the
electors may vote for representatives
who may express such law at the hex
session.