Canton herald. (Canton, Miss.) 1837-1839, 1838-01-24

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vs. ihal mHBIY, femreHia, gst iHlit
ulnt tone. 90 500 deserved hY dlost
who administer thc agale ol ihf
Union, though nation prosperity
were nn HIle ioy--a thing go De- da sbea
~ oarth with scOm, 70 aootAc official
whim.
The introductory remarks Of tho
message o9inco o feeling Of deep sym
patty with ihe mllcrings Of lbc com.
munity' aud ono cannot rcad the nnz
nunclati0n Of TIC fact TINT the gene.
raj government has abandoned ~
coldly and bcarllcssly TO orr palsied
resources, without q melancholy re-.
membrauce Of the better days Of the
republic, when the executive did not
prefer the petty interests Of is min.
IONS TO The broad and general prosper.
ny OF a great people.
Thus abandoned by the government
and placed beyond It's cognzancc, his
eScelIency well remarks, "Thc buoy
ant spirit, the untriug energy, and
the persevering enterprise of our
citizens, necl only be aided by the
credit Of the State, to rise superior
to these severe but temporary re.
verses
The message touches an interesting
PARTON of our commercial history, in
commenting on the conduct Of the
Planters Bank.
This portion Of the message de-
serves careful attention.
This Bank in repellIng investigation
On the part Of the commissioners, has
excited much suspicion as to the pro-
prety Of its transactions. II seems
certain commission houses obtained
the use aud control of an undue pro-
portion OF It's capital. This fact is
gently expressed--"lt seems that
through certain houses only, the plant
crs and traders could share its accom-.
modations: in other words, large
moneyed institution, forgotful of its
duty,to the public, has virtually trans
tered its capital and credit to the
Offices Of few commission merchants,
to be distributed according to the
good pleasure Of these lordly accept.
ors OF Bills Well may bank $50
managed close. its doors with sulIen
arrogance, against the commissioners,
whose feeble request for admission Is |
merely sustained by an act Of the I.e-
gislature. That the commission for
examining the banks was created for
political purposes, is pretty certain,
and that the investigation has assumed
such a shape is greatly to be feared |;
but this does not alter the question of
right as regards the power of the
Legislature. II that body be wise,
they will send down committee OIL
their own members; and Ii these be
refused admission, let the Attorney
General be instructed accordingly |
A quo parranto may not be amiss.
Such procedure has been known to
reach other naughty corporations, and
this may not be entirely beyond and
above the salutary control OF the laws.
Popular indignation should never seek
extra-judicial remedies, Lut il may
well give life and vigor to known
modes OF legal procedure.
The most important recommends
ton Of the message is that Bonds be
issued by the Legislature, for six mil
lions Of dollars, redeemable in. twelve
bearing an interest of six per
cent. The message st ties the legal
objections to this measure with great
candor and clearness. 1t may be
worth while to inquire in future pa.
per, whether they are satisfactorily
answered by his excellency. The /
objections arise from unsettled Ques
lions of Constitutional law; and doubt.
less the lawyers, with their usual felic-
ity OF argument, assertion and ped
antry, can say much on either side.Ii
The practical part Of the matter il
what mainly concerns us. II is ex-
tremely probable, that If the suspen.
sion Of the banks is legalized, and d
remote day is named for the resump.
ton Of specie payments, their issues