Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-01-21

Ton answers an excellent purpose. Byl
dispensing with the use of hooks in rolling
the bales, and keeping them unexbosed, It /
would soon supercede the use Of Scotch
and Kentucky bagging. A home marke.
would thus be afforded for our inferior,
stained and trashy cotton. To advance
in the science ofagriculture, and to ascer-
tain the hidden treasures of the earth, pro- |
per measures must be adopted by the state
authorities. Individual enterprise cannot
develope our latent resources for many
years. A large portion ofthe rich alluvi-
al lands in the State are subject TO annual
inunda,ions. An investigation of the |
means necessary to reclaim this valuable
land might be the means of bringing into
cultivation several millions of acres now
lying waste. The general health of the
people Of the State, more especially on its
western borders, would be greatly benefit
ed by draining the neighboring swamps'
When our immense Mineral resources
shall be fully known, and the superior quail
lty ofour soil and climate appreciated en-
lgrants will pour into the country: de-
mand viii exist for our surplus property,
and the country be soon freed from debt.
During our Territorial existence, tobacco.
indigo and rice were cultivated to some
extent, and with considerable profit. The
soil and climate is well adapted TO the
growth of those articles, and it is worthy
ofthe consideration of our agriculturists,
whether the cultivation of those products
would not afford good profit.
The Report ofthe Bank Commissioners
Of the State Of Mississippi, and copies of
my letters to the President and Managers
of the Mississippi Union Bank, and the
President of the Planters Bank, and the
statements furnished by them, are submit
ted to your consideration. The act ap-
proved May 18th, 1887, provides for the
election of three Bank Commissioners by
the Legislature who shall hold the Office
for the term of two years; and the eighth
section of the act expressly provides shat
whenever vacancy shall happen in the
Office of either Of said Commissioners,
from a1y cause ichaterer, it shall be the
duty of the Governor, as soon as informed
of the fact, forthwith TO appoint from the
same district, some suitable person to fill
such vacancy" The terms of the first
Commissioners elected in May, 1887, ex.
PRED near three months after the adjourn
ment of the Legislature in February 1889
| The law contains no limitation on its face
and expressly requires that the examina-
ton of the Banks shall be made once in
each year. The Legisture adjourned in
1929, without electing the successors TO
the first Commissioners, and when their
terms expired, vacancies occurred, which
. it was imperative on the Executive, by the
letter and spirit of the law, 10 Ell. This
duty was discharged. ] regret to inform
YOU that the Commercial Bank of Colum.
bvs; the Tombigby Rail Road and Ban.
king Company; the Aberdeen and Pom.
totoc Rail Road and Banking Company,
and the Planters Bank of the State Of
Mississippi, refused for the Commissioners
examine their affairs, and assigned as
reason for their refusal, that the Execu.
tive had no authority TO commission them
The Bank Of Mississippi, and the Bank o.
i Grenada did not make any reply to then
application The Agricultural Bank, anC
the West Feliciana Rail Road and Bank
ing Company, denied the authority of thC
Board TO examine Their transactions. The
Mississippi and Alabama Rail Road Com
pany, alleged that their officers were Sc
much engaged in bringing up their books
and attending to their cotton account tia
it was impracticable for them TO attend /,
the Commissioners. The President DR.
tenn of the Mississippi Union Bank, in an
swer 10 the application of the Bank Com
missioners, replied, that "the Director,
the Institution consider the question a
TO (the Commissioners right to examin
lis affairs, settled by the resolution adopte
last year when similar application wa
made by the Commissioners then in office
| The grounds of the var. Gus refusals, shol
an utter disregard ofthe laws of the LAND
and thorough contempt of Legislativ
control. have never seen the resolution
of the Board of Managers ofthe Misslssip
pi Union Bank referred to, but presume il
substance is TO be found in the reply of il
President 10 the former Commissioner.
! dated Nov. 23rd 1888. 1t is therein sta
ted the Legislature : is equally competen
| with yourselves to perform the duty, an
would be free from the influence Of an
: disqualifying bias growing out of pre-
: conceived opinion, which we have ampl
reason 10 apprehend might not be tn
case with yourself Ives. in prosecuting a
" examination of the Bank"
: The act Incorporating the subscribers TO ii
: Mississippi Union Bank, did not receive all ii
o sanctions required by the Constitution, unit
# the fifth day of February, 1888. The prelin
mary steps for the organization of theiBank ha
not been taken previous to that time, and 1
: principle is better settled, than that Ban
L charter is imperative, until accepted by ii
n corporators. The second section of the &C
e approved May 18th, 1887, and which wei
N into operation at the date of its passage, e.
= pressly provides, g that all banks and corp
z Tations having banking privileges, that sfs
4 hereafter be created, under the authority
, tn State, shall be subject to the provision
IS contained in this act" 1t is, therefore, clea
4. that the bank commissioners, had right
D. examine the Union Bank, The state at IL
70 time the application, was the sole stockht
I. der--her credit had established the institute
and inasmuch as the constitution eni bins upt
/" the executive, to take care that the laws
e. faithfully executed, it was of the last impo
l. taEce, that | should ascertain before signiH
la the residue of the bonds, whether the stock t
D. kenny the citizens ofthe State, had been S
a cured in the manner pointed out in the cha
A ter, and the affairs of the bank conducted Z