Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1840-02-27

Iolher bank, to pay in the paper Of the latter
without reference TO the depreciation which il
has suffered in the interval.
These provisions legalize injustice, and n
ward boon to frauds, at the expense Of those
who have been imposed upon by an unsound
circulation and credit.
\ The seventh section aulhorises note-holder
of proclaimed bank, to make any stockhol.
der pay out Of his private estate 10 The amount
Of his stock, in addition to what he has paid in.
to the bank Notwithstanding he may have paid
every dollar according to his contract with the
state, is not legally or equtably bound for an.
other dollar,and is wholly gailtless ofany fraud
or misconduct. large portion Of the stock
ofour banks was paid for and is held by citizens
Iof other states, who on the faith Of the pledge
Iof the state, the then unstained honor of its
citizens, and the bountilul means which, Prov
idence allowed them, invested their money in
these institutions. These means being out on
loan to our citizens and they being unable to
pay now, what was borrowed, the banks from
this cause, as well as in many instances from
fraud and mismanagement, lai TO redeem their
uotes; and this is made preext for requiring
further payment from the foreign sockholder.
The undersigned do soIemnly protest against
such monstrous inyaslons Of justice, moral
right, and constitutional enactnent.)
These are some ofthe principal provisions
Of bill, which in IN total disregard OF moral,
legal and constitutional obligation, stands I'M
rivalled in the annals Of any country, civilized
or savage.
In tho ic 1nar,aJ
nor are the undersigned allowed sufficient lime
to present an extended argument TO prove that
bank charter offered and accepted, constitutes
contract binding upon the State as well as the
stockholders. 1t is sufficient, at present, mere
! ly TO affirm our thorough conviction that it is
SO, and that the wisest, hes, and most enlight-
ened statesmen and jurists from the earliest
days in which the question was agitated, en-.
itertain the same opinion, almost without diyis,
ion Of sentiment.
| II cannot be questioned that when the State
by enacting charter offers inducements to its
Icilzens TO pay the fruits of their labor into
bank upon the terms prescribed, all who COM
Iply with the terms areentitled to expect and re-
quire that they be kept in good faith, and that
their Interests and property shall not be inya-
lNSA Wy VIZ Puti1 OhOllHS lHS liNuCGlISulS 10
them to make such investments Both parties
unquestionably have N interest in the results;
and attractions of the stipulatons on either
side constitute just grounds Of complaint and
causes for redress. The great question is,
what department the governments is compe-
tent TO hear or 10 try and determine whether
the facts of the particular case authorize for
fixture ofthe charter or not On this point,
the undersigned cannot conceive reason 10
doubt. Legislation provides for the future u-
dicial power, pronounces upon the past. Legs
latures deliberate upon what is best to be DONE
Judges and jures hear evidence, try, determine
and apply the law asst exists 20 what has been
done. To warrant a forfeiture for breach of
contract; trial, evidence, judgment, must be
had upon facts, This is the province of jnries
and courts, and is clearly judicial in its nature.
Being so, it is a power forbidden by the consti-
tuition to be exercised by any other than the ju-
dietary department. When the Legislature
undertakes, therefore, on the ground Of alleged
violations and abuses OF charter by the banks
Ito forfeit their charters, it assumes judicial
power and attempts to usurp the powers lodg
ed inthe jurcs and the courts. The conStitu-
ton in the Cd article declares ''the powers of
the government the State Of Mississippi shall
be divided into three distinct departments, and
each Of them confded 10 separate bodies of
magstracy, to wit: those which are legislative
to one, those which are judciallo another, and
those which are executive to another. No per-
son or collection Of persons being OF one of
those departments shall exercise any power
properly belonging to either ofthe others, ex-
m ha inctu hor Ill
rected or permitted"
The legislative assumption Of power TO
Judge Of facts and inhict lorieitures does not
more obviously invade the constitutional distri-
button Of powers, than the attempt 10 confer a
similar power, upon the executive. They both
eq Tally propose 10 destroy the balances Of the
constitution, and to abrogate its most cherished
feature as declared in the 28th section Of the
Declaration of Rights; ''the right Of trial by
Jury shall be preserved inviolote."
This act also violates the 10Th section ofthe
Declaration Of Rights in these words: "The
legislature shalt pass no bill of attainder, er-
post fdctO law, or law imparing the obligation
Of contracts;" and also the 10Th and 18th ar
ticles of the same Declaration, which provide:I
"that one cannot be deprived Of his life, liberty
or property, but by due course Of law" and
that "no PERSONS property be taken and applied
to public use, without the consent OF The legisla-
ture, and without just compensation being first
made therefor"
The whole frame and purpose Of the bill is
to lay violent hands, not only on the contract
powers Of the banks, but upon their property
and rights. 1t changes the features Of their
charters without their consent or any legal tri.
nj II imnairs and interieres with the eyer