Mr.. Clay and the Assumption OF State


Debts.
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The Courier and Enquirer gives The quictus
o the slander which has been set ailoat by Ely
Moore and other OF the least scrupulous Loco
Focos that Mr.. Clay and the Wings are in favor
Of an assumption Of tie State Debts by the Fed
aral Government. Somebody thought this Of
sufficient Importance to write to MIR. Clay about
1t, and six weeks since, MIR. Clay replied:


ASHLAND, Aug. Goth lsIi.
Ny Dear Su'-l received your favor OF the 9Th
inst. If you will be sogood MS to turn to my speech
on the Pre- emplon bill, pages 49, and 1873, Greeley
II McErath edition, YOU will find a strong and de-
csise expression OF my opinion against the assump
ton OF the State debts have never entertained OF
expressed any other opinion. The only relief which
have thought ought TO hc afforded 10 the States, in
ihc payment OF their debts, was that which would
incidentally arise out OF distribution OF the pro-
cecds OF the sales OF the Public Lands among all
bc States But that distribution has no necessary
connection with the existence OF State debts. 1t
vas proposed bv me prior to the contraction OF
most OF them. is proper to add that for the sake
Of the credit of our common country, icrvently de
sire to see every State honorably fulfilling all OF its
obliga atoms.


am. with s,eat respect, ycul irIcnd and ch't ,eIyt