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Hokitika Guardian, 29 August 1925, Page 4

i >Kins tii.vi r. s. itKPtmati:d. i i.oiii) i u i' i:ij.\ioi"i irs lkitki:. m:\v vnKiv, .1 mu! ;j. l.oi'il Twecomoiitb lias addressed a letter to tin: American newspapers in which lie asks permission to correct the impression circulated in the I'nitcd States that the defaulted debits of Southern States are represented by bonds issued during the ( ivil War. He says: 1 should lie much obliged if you would oive me an opportunity to say that m.y family lias been lor the best part of id) years owners of a hundred thousand dollars of Alississippi State Howls. These bonds were issued in this country between i'3l and 1838, at a high price, and went into default in 1841 twenty years before the Civil War broke out. The only reason I have ever heard for their repudiation is that the investments in which the State placed the money she borrowed did not prove remunerative. Lord Tweed mouth's letter is reproduced by two newspapers—the " Now York Times’’ and the Baltimore ••Sun.” The Kuropean discussion on the defaulted debts of the Southern States of America leads the ‘* Evening Post ” in a Paris despatch, to .suggest that it would be '• the part of wisdom ” to pay them. " thus cutting the ground from under the feet of those who cite them as a precedent for European repudiation ot world-war debts." The same despatch suggests the advisability of silencing, by twentieth •entury payments, those Frenchmen ■Vito contend that America failed to relay part of her revolutionary debt to •’ranee.