The Pearl River banner. (Monticello, Miss.) 1837-18??, 1838-03-24

dopted, appointing a joint COM
mittee of fifteen, which was af-
forwards increased to eighteen,
10 wnom this important subject
was referred. The majority Of
the committee reported TO the
Two houses in favor Of acting on
the revised code as a whole,
without reading. This report
was immediately,rejectedo on the
part of the Senate, and laid on
the table on the part of the
House. then, on the part "
the minority of said committee,
presented their report to the
house, which was received, and
five hundred copies ordered 10
be printed. This report pointed
out rules Of proceeding for the
two houses on the revised Stat
utes, and also a plan for class
ing and publishing the same
The consideration Of this report
was finally postponed tolhe adj
journcd session, and onmy mo-
ton was made the special order
Of the day for the first Monday
in January next. The post
ponement Of this important SUBJ
ject seemed to arise more from
an aversion to the labor requI-
red bya work Of such magni-
tude, than from any distrust Of
its merits; there being a deci-
ded majority Of both houses fa-
vorable to the code. Our pre-
sent militia law has been exlrac-
ted from this work, is pro-
nounced by military men to be
the best we, have ever had on
that subject. 1t will, no doubl,
be + und uponinyestlgatinn, that
most Of the code possesses sim
liar merits, and will, | believe, if
properly appreciated, prove q
valuable treasure to the State,
The next subject Of Importance to the
ipeopIe. was the passage Of the law char
ltering the Mississippi Union Bank. with
| a capital Of ffteen millions FIVE hundred
Thousand dollars. None but citizens Of
IAhis State can own stock in this institu-
ton, and although am opposed to over
banking, Icannot but believe from The
features Of its charter, that tits really the
peoples Bank, and opens door to eve.
ny industrious, enterprising citizen inlthe
country TO better his condition. One
third Of the stock in this institution is Re
served for the State, the proceeds Of
which, are TO be applied to purposes OF
Education and Internal Improvement
! The fund that will accrue 10 the State
from this source will be sufficient 20 re
move the distractions from all our navi-
gable streams, construct railroads, and
carry the blessings Of an English Educa
ton to the juvenile inmates OF every
hamlet in the country. Entertaining
these views, although ] differ from some
Of my friends on this subject, | gave my
support to the charter Of said bank.
! An able directory Of the institution, Goa
sistiog Of ten members, was chosen BY
joint ballot, and there is no doubt but j
Twill be got in operation A. soon as prac
Iticshle.
Anefort was made 70 change the loca
ton Of branch or The Union Bank iron
augusta to Mount Carmel; this measure
| advocated; believing il would not only
be better Tor the institution, aud more
convenient for the people, but would Civ
great impulse 10 the prosperity Of tina
thriving village. The proposition FINAL
|ly failed by a very close vote IL III
Hose. alter having passed the SENATE
After the passage Of the Union Bahl
charter, with its seven branches, iofb'
located in the various sections Of III,
State, WAS Of opinion that i was mex
pedient 10 create any more banking cor
porations at the present period; believ
ing that excessive banking is a great evil
and might subject the community 70 grea
loss BY .he sudden depreciation Of Banl
paper consequent upon such unlimitedis
sues; ! therefore voted against numbe
Of bills for the establishment OF hanks
three OF which were vetoed by Governo
McNntl whose cnllrsa On that nccasiQJ