Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1841-07-24

own constitution than strangers can be. he
had not the slightest reason to dream of such
thing. He was bound TO believe the bonds
had been issued in accordance with law. How
else could it be? Was he 10 come to Missis-
sippi and ransack the journals of the legisla-
ture, to see if the bank charter with the ayes
and noes thereon were spread upon them?-I
Was he to collect files of newspapers to see if
the act had been "published in three newspa-
pers for three months!" Any man must see
the absurdity of the position which assumes
that Mr. Bidde knew the bonds to have been
issued in violation of the constitution of Mis-
sssippi, for we have shown that ii was not
possible for him to know it, and any attempt
now TO hold him responsible for thing he
could not know, is barefaced fraud! Again:
The silence of all parties on this subject, and
the issue of $5O00,000, more bonds, and that
AFTER THR FIRST $5,O00,000 HAD BEEN souAN-
DERED, AND THE BANK RUINED, is the most con-
elusive evidence that the parties who are now
attempting to repudiate the whole debt, never
dreamed of violation of the constitution,
but that it is an after thought an infamous at
tempt to get once more into power. There
never was, until last winter, the slightest init
nation given by either the governor or the
legislature, that these bonds were fraudulent
ly issued; on the contrary the action of every
department of the government shows conclu-
sively that the state recognized them as hav-
| ing been issued in accordance with the pro-
visions of the constitution.
/ Our readers are already informed of the
action of the Legislature of 1889 In the sum-
mer of that year Gov. McNutt, signed and de-
livered $5,O00,000 more of the bonds and de-
livered them to the President of the bank, who
sometime in the fall proceeded to New York
tor the purpose of negotiating a sale, which,
as every body knows, he did not succeed in
doing. Here then, not only 5 but 10 millions
of bonds had been issued, and half of them,
too. nearly year altar the bank had boon. ia.
operation. One would suppose that if the
constitution had been violated, it was time
the discovery should have been made; but still
not word was said about the constitution,
and his lynx-eyed excellency, governor Nc
! Mutt, signed, sealed and delivered the second
datdh of S5,000,000. The legislature assem-
bled at Jackson on the 9th day of January
+ 1874. Gov. McNutt sent in long message,
but in all its length and breadth, not one word
was said about the constitution being violated
in the issuance of the Union Bank bonds
He reviewed the management of the bank at
considerable length, and was exceedingly Sc
we're upon the officers and directors, but not
one syllable did he utter in regard to any real
or supposed invasion of the constitution by
the creation of the bank. What he did say,
however, is pertinent to the question at issue,
and we will extract it here. We do not of
ten consult the governor, but he is very good
authority with the ti-bond payers, and we
shall have frequent occasion to refer to him.
Speaking of the Union Bank, and common
ting upon the refusal of its officers to make
public certain information connected with It's
management, he said:
"7he faith Of The State as pledged for the
,oAole capital stock, and the property of all her
citizens may hereafter be tared to make up ITS
losses and defalcations. The right of the
people, therefore to know the conduct of al
), its agents, and the liabilities of every one Of
It's debtors cannot be questioned"l
! We might cite various paragraphs of SIM
liar nature from this message, but this one will
suffice at present. At the same session of the
| legislature, joint committee of the two hou-
ses was appointed to examine the Union bank.
That committee made thorough examina-
ton, and very long and elaborate report,
they said nothing bout the constitution being
violated. Indeed, they never once alluded to
! it directly OF indirectly. But in several pas
sages they distinctly recognize and acknowl-
edge the liability of the state to pay the bonds.
/ The following extract from the report will an