Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-03-21

ctNL ldc ploHts Rt accrued 70 The lender
They inflated the credit sy,,em--ihey swei,d lhc
price 81 every arucIe-aud consequently dcpre
GATED the value OF property which We previous
" owned. These ate some OF the effects of the
consideration, and he would ask, 1t they were
valuable. Il then the banks have 40, comped
with their charters, It surely 81 De granted. tia,
their franchises are lurIe ted, and that they rccur
back TO lhe source from whence they emaualed
lie would ask gentlemen Il the Legislature. or
a committee Of The Legislature could not adludse
whether franchise had been accepted by a COT
porauon according TO the tenor Of the grant. as
well As the Judges OF the courts } But gentlemen
rue Tint The judiciary alone can have investigate
ed H. They rely greatly upon English preccd-
eu,. Tie would admit the force of the argument
when applied 20 tda English government There.
chauers emonae tom Royal preugauy 50
- the policy OF their government that the crown
cannot era. It's, therefore, only necessary Coz
The courts 20 couoc; the mIsu>eS and abuses 1T
charters, tuJ its presumed they were founded 30
good policy. Such, however, be- sand, vas noJ The
case IN b.. happy republic Here, the people
held that lheJr legislature could and did en-,
and with them rested the check OF power 10
change OF repeal such acts--pud thus did the
people OF Mississippi reserve 10 themselves the
right of biennial elections, that through their leg.
lSators, their opinions might be known. For
SAID hel according 10 ont constitution and The ma
turc of out GOV umeuL every Legislature posses.
SEES the same power that the one dld which proceed.
ed it..
It has been argued that If the Legislature
should repeal bank charter, 1t would be taken 10
3D.. i.
unconstitutional ng and void. He, however,
differed with gentlemen ~ that opinion. lie yet
had heard no evidence adduccd which should sst.
lslv the mind of any individual The cases, to
which gentlemen have referred, are not al all anal.
agous. The Pennsylvania and & eorgta grants M
yolsed entirely different privileges. In these ca
ses the Legislatures had granted to private clu
2ens certain tracts Of land which hey bad trans.
lered to third persons. Therefore to revoke these
grants was lmpairing the obligation Of contracts,
and really taking away from Bn innocent
individual property winch he had purchased. SIR,
SAID Mr., II we do not claim the right to take
away the property Of the banks, il Is only The
| power 70 withdraw our daGChIses which they are
using to the prejudice Of the interest Of our State.
! W propose TO leave them their property, togch
CT with their profits aud If the Legislature ,Ner.
clsed the night, be, og enc, Did uot lear the result
| before the courts. No court, sad he, will declare
IA legislative act yod but ~ very PLAIN and pal.
pable case. Judge Chase and Judge l,Iqhman
thought It objectionable for the courts so 10 de.
eide, # there was the least room for doubt Judge
Marshall said &" in no doubtful case. would he
pronounce legislative act 10 be contrary TO the
constitution With these views before him, and
believing as be did, that toe Legislature had tho
constitutional t-alle repeal charters, when hey
became obnoxious 10 public interests, he, Nh
H. was wiling to act out the principle when an
emergency required it,
He, Mr.. H. had no auhpathlcs to CRAFTY
against the banks nor dad he oppose them fur
Their than he thought the interest OF the State re-
Quued. tie did not wish to cut them of 10y one
fell swoop, as gentlemen suppose, Mo- be only
wished to Top Oft the carlous branches from the
tree OF currency, and bring 1t back to healthy
symmetry and beauty lie knew there must be
a radical change and that distress Will follow III
It's wake Bot whether We accept the proposition
Of the gentleman ltoH Lo"udes, or adopt and
carry out lhe principles contained IN the resou
tons Of the gentleman from Warren, the effect up.
on the country viii be tho same. They propose
different means for the attainment Of the same
end. Tho wound viii be the same, whether IN.
flicted by the Legislature on the judiciary He
would certainly support those measures which
would result N most good, # he knew them. Not
that he regarded the banks, but because that they
like a seductive serpent, bad eutwlncd lhemsolge.
) around the interest Of his country, and that any
wound inflicted upon them must affect the mos
sensitive nerve Of the body polite get while he
, was IN some degree for mercy, he was neverthe
less for Justice. lie wished tho Legislature 10 &C
q cautiously, yet firmly and lnhexib'y. lie regard
, ed this Legislature as the spectrum by wblci
4 public opinion waste be reflected and he hopet
# that its surface would not be dlmmed by the poi
i sonous breath ol ambition OF the gushing brrcz
q Of prejudice, bot that Il would reflect back to h'
/, constituent body, an image entirely comcly--aI
=. action wholly pure. he should contend for lh
Z. night Of the Legislature to repeal charters, "At
he had hope of success If, however, bis favor
. tie measure iaied, then would be fly to che uea
, hope, the tardy action Of the judiciary.
= 1t had been SAID during the discussion, vllh az
i parent triumph too, that The Legislatures Of Ken
4, lucky and Massachusetts, were The only proceed
=, enls nhlch they had lor such extraordinary ac'or
,. Gentlemen had even proposed to surrender b
/. point, if others could be adduced. Mr.. Hem
IN mingway would, for their satisfaction, refer
!. Pcnu.y lyaula. She had, in more Than one 70
V stance, exercised the power through her Legs
i lature, Of repeating charters. Her repent Of ID
;, charter Of the Bank Of North America was A cas-
I, directly in POINT, lie would also refer to tie r
:, solutions passed By the Legislature Of the Stat
Il OF New Hampshire at their lat session IN ~hC
r. they clam, aud ably sci forth their power to COZ
n troll charters. lie need not 70 so far ioi Prece'
.. ents however; for they were furnished even
d, home, aud that, too, by the suggestion Of OF
=. whose opinions should have much weight VI
-. gentlemen. Il had been contended on ID
floor that lfthe supporters Of those resolutions e
.ir ected Their purpose, 1t would recognize PrlncP
=. dangerous IN It's eharac'er--subvefsiye Of 'es''
-, rights He denied It and hoped that genllem'