Piney Woods planter. (Liberty, Mi. [i.e. Miss.]) 1838-1840, 1840-02-08
REMARKS

OF Representatives, in COMMITTEE of he'
Whole, upon Mr.. Speight's rtsoIuttonl
relative to the Banks and Currency
detipered January 81, 1910. 4
Mr.. Chairman--without entering upon
an introduction as long and iabored rs
gentlemen on the opposite, have indulge1
ln-wishout attempting to ssperse the
motives which may actuate those who
in this discussion. may have taken, or
may take views differing from my own
and without mingling party feeling with
a question, like this, of purely abstract
character. must still be allowed toprom
Use Gas the institutions thrown out may
perhaps call for such declaration that my
respect for the Consultation of our I'M
ion and that of my native State, is as high,
and shall be as distinctly shown in my
course, as thatofany other individual who
has a seat on this floor. Not single requsi-
ton of thuse sacred instruments would
disr2 gard--not u single limitation which
they place to our authority would | over
step. Believing as do that this Legis-
lature has ample power 10 repeal bank
charters--and advocating as do our
right to the exercise of tais power, in
supporting these resolutions, do so, sir,
in the firm convection that we should, in
such action, violate not a single prohlbi-
ton, which the strictest construction OF
the letter and the spirit of those lnstru-
mehts. may throw around US. The po-
sition from which | would deduce this
right is high one--but though high, the
path by which il is reached is plain and
smooth so plain that the most limited ca
pacity may tread it without confusion,
and so smooth that the most timid and fee-
bic may tread it without danger. would
march up to this ground, and meet this
question promptly and iearlessly a. indie
notwithstanding over straight and
broad highway, without iolting against
the jutting crags which fence in the holy
precincts Of vested rights. on the one side,
or plenging OF into the abyss u ANARCHY
and agrariahisn on the other knowing
that the principles held and the language
used By the advocates M this doctrine viii /!
be misrePreseuted and pergorrod; but i
fearless and regardless ofconseGuences as
long as conceive myself supported by
justice and the constitution, in claiming
sacred right, 50 important to the prosper
Gus administration ofourgoyernment.
| shall proceed, sir, TO give at once to
this committee, In as brief and succ'nct a
manner as my abilities will allow me, the
successive steps by which | would tread
The path have iust referred to, and reach
commanding height, which on this cues
ion insist ii our duty 10 take.
The point from which Iset pdt, IS the
unquestioned and unqDstiona-
lie right of Legislature to alter, amend,
n repeal all laws of public nature--and !
the charters OF public cor 7;
,orations. Taking this for granted las :
/ must be taken for all adjudication on
he subject has declared it) proceed 70
he examination of the question which i'm
nsaiately arises, whether banks organ
zed as ours are in Mississippi, come with
n the defnitionof public corporations
question of which | hold and shall eEdcay-
,or to prove the affirmative. 1000 y
To hi upon criterion by which we are
O draw the distinction between public
md private corporations, we are not lett, : :
,ir TO our own, speculations. Various and |
decisions of the same high tTr-
Dpnal to which gentlemen on the opposite ?
are as fond of referring, and towhlcn they a
cannot 90 beyond me in paying the re- =
spect so Justly its due, have most clearly :
! "A npeouiyocally declared that criterion
70 be whether the objects, uses, and pur- :
rosesof the incorporation be for public
Or for private emoiument;
Iudas Baldwin, than whom clearer and :
sonnder intellect has seldom lilumlnea
Tho hench of any age or nation, has SO al +
$3.50 in a case to which however can :
!u ~. Immediately refer. Chief Justice
NJ .LnI in the case of the Dartmouth y
Hpno~e IS, Woodward. throughout his y
Ss O.s establishes and Judges according !
- ,he same criterion. In this case tin (
~, '"I wheaton. page $685. he says The :
4Ih .',or of civil institutions does not 7 7
cnaraC ~, of their Incorporation, but out Of
grow on. QUIZ =, IN which they are formed, !
sDd the objects for which they arc Z O' 20,
t .aS The right to change mem ,o ! h hvt
tOunaea T Ta;;g insrtumehts OfgOvernment, : :
on .noiI for its purposes" Again. y page =
created lot =. volume, he says, "a the :
at 4 Of Incorporation be grant a,;,U Ot to be
nower if it create g, lu ~ of the uo-
employee, z lo ri + its objects be such as are
Ss. : ! sas 'a' Ts isis' ss
tna SGD sy act according to ;I !, 9%n
g!n ,slanulst unre.trsiusdby any 'im''''0D