Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1836-12-22

and powers hereby granted, then this power
sha!i he forfeited, and the said powers and
privileges shall cease aud become void"
To tins it was objected that il might ena-
Bile the Legislature TO claim ,he right of
judging of these alleged abuses, and they
were distinctly aud decidedly informed tina,
IL, when the charter was Offer ed 10 the stock
holders. IL contained any such provision, il
would he certainly and instantly rejected by
them. Accordingly, when the bill reached
the Senate, motion was made TO strike out
the fifth section and substitute a provision
exactly similar TO that in tho old charter,
that the fact Of any uiolation Of the charter
should oe FIRST determined by the Courts be
Jore fhe Legislature could repeal H. This
passed oy a unanimous uote Of The Senate,
every member being in his place. And all al
temPis to give the uncontrolled right of re.
peal 10 the Legislature were negatived
Thus mutton was made 10 amend as fol-
lows:
The privileges hereby granted to said
Bank shall be subject TO such alterations and
restrictions as The Legislature may at any
iimc hereafter think proper to enact for the
better regulation of the bank ing institutions
of this Commonwealth, and shall be liable TO
such taxes, whether on dividends or Others
wise, as the Legislature may at any time
hereafter impose"
was rejected by a voie IF elevsn to r,rcn-
~ ftco being too TO one
Again-a motion was made TO amend ne
follows:
Also, il it shall appear that the charter
ond privileges by this act granted 10 the Bank
herein mentioned are Injurious 10 the citizens
oil this Commonwealth, the Legislature re.
serve iuli power 10 alter, revoke, and annul
Them, or any Of them, at any time they may
think proper"
1ais ,eas rejected by a cote Of i,oenty -one
TO itpelpe.
The facts thus briefly stated present this
Case "A certain number of citizens of oth>
or States and othsr countries had a large a
mount of capital which they were about 10
Withdraw from Pennsylvania. All the au>
ihorities OF Pennsylvania interpose 10 pre-
vent what they deem injurious To the State
ihey request these distant citizens to leave
their funds in the Stale they pass a law, Of
fering certain inducements for them 10 re.
main; and declare that, if they will consent
TO stay, they shall never be disturbed They
trust to these promises They pay large
sum Of money with which the Legislature is
enabled 10 dispense with The taxes in Penn
.yivanla to continue the public works of
pennsyirania and to educate cra,uitousy
the citizens OF Pennsy lvania. They do more
ihey subscribe voluntarily halfa million of
they establish three branches tn lend money
TO citizens OF Pennsylvania they resume
their active business in Philadelphia, which
probably saved that city and the whole State
from the general BANKRUPTCY which would
have followed the winding up its affairs
And now, after all this, certain persons are
endeavoring TO induce the People of Pennsyl-
vaniA 10 violate this solemn engagement ; TO
break the plIghted faith OF The Common
wealth and TO annul contract which it VOL
UNFAIRLY sought, nay solicited from these
strangers.
You will naturally ask by what process
ibis IS 10 be accomplished. There is diff.
fcrenCc OF opinion sons thinking il should
DO done by the Legislature, others by the
Convention some, with return of the be- |
Gus some, without il. Nov, none Of these
will be done, or can be done and not one of !
them will even be attempted.
he difficulty with the Legislature is this: !
They asked The stockholders 10 take tho |
charter they received the stockholders mo-
Bsy, nnd gave the charter. Now, if this is |
no; bargain, contract. what is Il? VIVA, !
difference is there between this and the other
engagements OF The Stale1 ittakes my mos
ney, snd gives power declaring tina; own
certain land. II takes your money, and gives
you certificate OF debt 10 another il says,
q
yop shall harea paper declaring that YOU may
iaks toll. They all stand on The same foot |
ing. The Constitution Of Pennsy lvHnin for
bids The Legislature from violating any ono
Of aucb engagements II contains what il
call "a declaration Of rights" a. fellows:
"That the general, great, and essential !
principles Of liberty and Tree government
may be recognised and unalterably establish |
ed, we declare,
THAT no ex post facio law, nor any lGD
sDpaIsng contracts, shall Be made I"
How, then, can the Legislature make a
law violating it's own contracts? Even
where il disposed TO do SO, il is forbidden by
q power still higher than the Legislature, or
even the Constitution of Pennsylvania.
The Constitution of the United States is
guaranty by all the States against any wrong
done by any one Slate. That instrument de-
clarss that "tbis Constitution shall be the Su
PTsms iHt0 Of the land, and The judges in eve
Ty Stale shall be bound thereby-any thing
IN the Constitution or iatOs Of any State 10
The contrary Notwithstanding and thai
Constitution declares that ''ro State shall pass |
any lao tDipairlng the obligation of con
tracts" So obvious is this, that even Mr..
George M. Dallas saw il. The charter, he
says, us essentially contract made 10y al
lsssi our nominal representatives with M
merous persons, ni1le tsnfhs Of IDhom are
Strangers to our soil, and each Of whom con-
tribUted, in the payment Of The bonus, some
portion OF his private property in execution
Of bis share Of its stipulations." "The rights
which il impaired are now absolutely vested,
bed the Constitution Of the United States
prohibits any Stale from passing my law
irpairiDg The obligation Of contracts" 81
sm aware" he adds, cot The natural and pre-