Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1840-05-14

was IN itself An invitation TO the landholders TO take
stock in the proposed institution without which The
audable and important object 0f the Legislature could
not be attained The design was generally approved
and many offered their ands-some, thousands olacrcs
some hundreds, and some their small tracts of quar-
tersecon, their lttleall their epossesson. Was
llt by thus conhdmg in the law, and in the prudence
fidelity, honor and honesty Of The government and il
agents, that "thcy have got themselves into lad
snap"
Many stockholders so called, had much trouble
and Increased expense, in preparing their papers
Tor the board Of Commissioners but they had no other
action in the business and could have no other until the
time might arrive for election Board Of Directors
but before that time did arrive the institution was ruin
cd by the misconduct ofthe agentsof the Government
~ es, the agents ofhe Governments for the Bank com
missoners, were allappointed by thu legislature The
stockholders did not, and could not, take any STEP in
either aiding or opposing the commissioners in their ne
furious proceedings. 1t altogether d transaction
OF The Government, seeing that as already suggested
the commissioners the creatures and agents of the
Goycrnmcnt over whom the stockholders had no con.
troll.
But the ruin of the Union Bank Is not TO be attrbu
ted exclusively TO the conduct Of the commissioners,
atroclous as unquestionably is. The Governor gave
II a mortal blow in another way However well thew
might have managed its affairs, il would not have sus.
tanned the shock givenit by the Governors Message.
Under its bghtng influence, the unsod bonds of The
state could notN iayc found purchasers in anv money
market in all the world; and without the saleof these
bonds, the interest of the stockholders in the nstitnton
were mere nullhy The Governor himself. there.
fore, to sly nothing of the commissioners did poten.
tally and wiliully cut off the stockholders fram all
hope oIreali2ng any property in this institution.
NO; the perldy of the commissioners is not the only
cause Of the evils brought upon the State Orr GOV
ernor has had his share in producing them His Mes
sage and Proclamation received the credit whlt the
criminal conduct OF the commissioners destroyed lthe
character, both the Bank and the State.
But to the main point ] he editor Of the Missssin.
pian the State printer evidently mcdtatcs serious p
ustice to the socklcss stockholders He would hr;n
against them the force of numbers. Our C;ovcrnnr
too, had counted noses" when, in his MESSAGE bo
remarked upon the snail proportion Of Stockholders
to the whole number ofvGters. But his object was Al
ferent from that of our State printer The former
aimed at precludng private individuals from shares in
the Union Bank (in which he succeeded triumphnntlv
and converting into State institution mot so snre
now With these views, he claimed the proceeds Of
the bonds then already sod as belonging excusiyelv
10 the state. and recommended the cancelng of the
Bonds, then and still unsold And the prevalent opin
ION at that time was that the FIVE millions of dollars
procured for the Bank did belong to the State rs lis
part Of the capital stock and that there would be no
private stockholders unless other bonds were sold The
opinion of the State printer, therefore, seems to be
lew and quite different view of the subject owing tol
chdngeln the prospect OF things, and not to any new
light which reason has shed on the case When the
means of the Bank were thought to be sufficient TO ren
Ter il an eccut State institutions private stockholders
we're to have none ofts profits; but now when those
means are found to be wastedby msmanagcment these
lomina stockholders must according to Mr.. Price, sus
ain I'll the loss.
AS before suggested should not have thought i'll
necessary to take any notice of the opinion Of Mr..
'rce this subject, it not for his connecticut
With the Government, as To business and politics. Hell
IS the editor of sort Of Government paper which sus
ans relation towardSou State Government similar to
that which the Washington Globe suStans towards the
General Governments and like the Globe may be con.
sidered as expressing the views of the ruling power
Whether this editor expresses merely his absurd
opinion and bad feeling the subject considered or
those of others also who have official influence in the
case, remains tobe Be this as il may seeing that
our State printer already the carpet it may be
proper here to change the subject and enquire whether
our little State can under the present pressure (which
may long continuc) aflrd to pay twenty thousand
dollars for the ordinary printing of single session. be.
sides four thousand five hundred and thirty dollars for
occasional printing, in year And to change thcI
subj ct again, may be well enquire also whethor
the people, who already unable pay their ordina
ry taxes ought TO be additionally burthened with five
hundred dollars for public ball, and with upwards of
seventeen hundred and forty dollars for other Lcgsa
tive amusementS All this expense in these irving
times, to do honor to who originated the course
OF policy, which has ruined our cur ency and blasted
the prosperity ofthe country. All ordered by those
who once Joined in the cry for economy, retrenchment
and REFORM Are we not the verest dupes of false pro-
iesslon that ever ved2the easiest souls under
sion that ever called themselves frec2
FIAT JUSTITIA. /