Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-08-31


tiers bank and for the aehole amount Of The cap
ital Of The MississippiUnio Bank" "a just !
regard TO The honor Of the State demands that |
those institutions should he managed with |
great prudence in order that ample provision |
be made for the punctual payment of the inter-
est of the bonds at maturity"
asserted moreover do. do. do. "the state is
yet the sole stockholder"
In 1910 in my message said "the act in
cooperating the subscribers to the Mississippi
Union Bank did not receive all the sanctions
required by the constitution until the 9th day
of February 1885," Do. do. do. "strely the
people have a right to know what losses they
viii probably sustain by the operations Of the
bank" again do. do. do. "the faith of the state
is pledged for the whole capital stock and the
property of her citizens may hereafter be
tared to make upit losses and dgfalcations"
again do. do. do, "tbe State debt already
amounts to about seven and half millions Of
dollars
And again do. do. do. "the rights Of the
stockholders are yet inchoate and until the re-
sidue of the bonds are sold they can have no
peculiar claims"
| have also stated in my message of ls4l
that the State had obtained accommodations
from .he Union Bank.
"Paid Mississippi Union Bank for
"variously borrowed by the state
"treasurers 1899, > l51,0OO
"Paid Mississippi Union Bank for
"Money borrowed by Gov. Lynch
commissioner public buildings, } 26,l64,5O
McNutts message IS4I Journal of Senate
page g.
TN. TUCKER, Esq.-WrTNEss
Question, State who you are and why you
are made witnes in this case.
WITNESS, am Tilghrnan NJ. Tucker the
genuine Loco-Foco-Democratic- Bond
paying candidate for Governor of the State Of
Mississippi. | am the farmers candidate. and
Parson Shattuck is the shop-keeper's, for
whilst he was peddling yankee notions, was
, working roninto poughs and axes. Ihsve had Ia
, great many nick names given me among which
are unconstitutional Tucker, Old Iron Sides
: Old Tender Toes" and the last that has beer
bestowed upon me is "Tdlabola." / have al
: ways been tetotally opposed to all banks ex
S cept now and then when | thought TIN
!. ing limprisoEment for debt but it was be
II cause am an old fashioned democrat and an
It opposed to changes. ] have been a GOO
deal in public life and know about as mucl
of almost everything that is worth Will
J. knowing as almost any man you will come
k across; have now told pretty much who | an
and the reason why have been made wit
D. ness in this case.
QUESTION, State what admissions you ma,
O have made whilst in the legislature as TO the i
J. ability of the State of Mississippi for the pay
1T ment of these bonds!
,r WITNESS, Whilst in the Senate OF tbi
: state Hanson Alsbury myself and others wer
members of joint select committee of the lie
of eisature appointed to examine the Mississippi
rs u. Blk and we delivered report in which, w
* used the following language by the credi
le sales OF the bonds for the payment Of The Stat
E; stock the STATE has incurred loss &C.
e ''Thc committee after a candid view of th'
" management and resources of the Bank, ar
sc fully persuaded that the State viii ultimatel
Mt be compelled to pay greater portion, ifnot tn
of entire amount of the bonds already negOtIa
III ted"
a. "Wth this prospect before the state in re-
|: lation to her bonds, the committee are OF opn-
b ion that it would be most suicidal policy to
re increase the present liability by farther IS
IN sue or sale of the securities" "Thef mil
of lions already negotiated belongs TO the STATE
= exclusively, as vet the subscribers are bound
: for nothing, no money has been paid IN on then
Y account"
4 "If the bank is insolvent at this time the
Joss must fall exclusively on the State &c
= This expense having been borne by the
bank must be paid by the State as the 0nt5
stockholder."
"Justice to those who may be disposed I
lend money uponlthe pledge of the faith.of tn
State, demands that we should stop in our ma
- career for it cannot be HONEST for tn
- State to borrow money ofcapitalsts."
!. In the election of five directors OF the MIs
sssippi Union Bank pursuant to the first resc
luton of the two houses one hundred ant
\ twelve members of the Senate and House G
Representatives answered to their names an
|, voted, among them is the name of TN. Tuck
er. In all my legislative actions was unde
Is an oath to support the constitution, so was
> Governor McNutt, but he violated the consti
tuition in putting his name TO he supplemental
bill of the Union Bank charter, and | admitted
!. in a speech which made in Columbus that he
!. knew it was not constitutional at the time he
signed the bill, and that he was induced to dc
so by want of sufficient moral courage &c
resist the influence which surrounded him, not
:, withstanding, [ voted for his reelection as
Governor, because preferred him to Judge
\ Turner, and considered it st0apping the deUi
:, for acitch, and rather took him as the choice
:, of evils, though did not mean to have 81
harsh an inference drawn as Parson Shat
;. tuck drew when he'stated that. / admitted
had voted for man who had perjured him
self; consider "Pdrson Shattuck is rery il
liberal opponent, and destitute Of principle, a
he advocates one set of doctrines al one pIac