Lexington union. (Lexington, Miss.) 1838-18??, 1841-09-04


,1rm distinct questions, and they ought |
10 be decided upon distinct and different
considerations. In the third pa,e, such |
a course leads necessarily to a double VIC. |
laton Of the constitution; because /, would
be a violation OF the constitution to raise
money from the people for an unconsl,u.
tional purpose; and it would be a violation
10 appropriate the money when raised, to
the payment OF an institutional debt. In
the fourth place, if the Legislature did au
thorise the receipt Of the money and did
appropriate it, they had no power either
to receive or to appropriate, and could con.
fer none; ana it assurrediy would be un.
heard Of oppression TO make the innocent
many suffer for the sins of the guilty few
who were acting olt Of their authority
la the fifth place, if the bonds were con.
s,itutionally issued; and if the agents
were duly authorized to act; the fraud
which characterised the sale, the palpabe
violation Of the charter in selling the bonds
below their par value, and in making The
principal and interest payable in pounds
sterling at the rate of four shillings and
sixpence to the dollar instead of current
money Of the United States, by which
loss gilmore than one million of dollars
is sustained by the State, all of which is
more clearly and specifically set forth in
the late able correspondence of our Exc
cutive with the trustees of the United
States hank, would be amply sufficient to
justify The State in refusing the payment
Of thcsj bonds.
A legislature of Georgia once disposed
oF,he largest and best portion ofour Sale +.
10 hw adventurous spectators; yet
succeeding legislature, solely on the ground |
of fraud, not only set aside the cootract
but rtually drew fire from heaven and
burnt up the journals and every evidence
of lie contract in their reach.-And the
unbised judgment Of an impartial world
has ger justified the act. But do not
granuhe assumption that the State has re-
ceve the money for whic b the bonds
weresolj. Not a single dollar has ever
been received into the Treasury of the
State Not dollar has been appropriated
by th Legislature, since the sale OF the
bonds, for the use of the people, or for
governmental purpose. Nor has that bo.
dy in any way or manner whatever, con-
rolled Or used this money.
But, il is further said, ii is TOO late to
'aise this question: The Legislature of =,
.S3S authorised The issuance Of these
bonds, and the legislature of 1889 justified Il
and confirmed the sale OF them; and th c
day is now 100 for speu; for US to rise up .
and call in question their payment, TIE II
IL deception, based upon an errMneous IL
statement. The Legislature of 1888 did Jt
pass the supplement-, aud thereby made
the State subscriber forslock in the u. Il
Bank, and attempted to render her prlma- ?
riE liable for the five million Of dollars a
for which the faith Of the State is supposed Il
to be pledged; which the Legislature
clearly had no power to do without The
sanction of the people: tie same men who q
had the hardhood to rample on the con- I
stituton in 1898; had also The presump- q
tiop, at an adjourned session in 1889, be- /
Jag the same identical legislature, 10 sane. n
ton the sale of the bonds by the commits +
sioners, which violated the charter OF the ;
Bank, The workmanship Of their own o
hands. il
If the reasoning above be correct, i, y
amounts to this; if a man commit wrong /,
cnce, it is crime; if he commit a wrong :,
TWICE, it is virtue. If Legislature II
assume power once, 1t is oppression; il Id
the same body afterwards recognise that
assumption 1t is patriotism. Moreover, ii
the Legislature OF 1888, when they at. I
tempted 10 raise the five million If dollars Inf
10 take stock in the Union Bank, made !,
such disposition Of it as TO place it be- h
yond the reach of all subsequent repre-.
senlatiVes, OF the people: so that a succeed. Ell
ing Legislature had not the power, if they il
had had the will, to returned the money a,
which had been unconsIlutionaIIy obtain e,
cd And the people could never afiec. n,
lively act or vote on the question, till they in
were called upon to pay either principal &C
or interest on these bonds, "a
Driven from this position that it is too late -,
il IS then said it is too soon TO raise this h.
question! But it we owe the principal, n
we owe the interest, and there are very q
few so dead to State pride, as to acknowl-
edge our insolvency, our inability as ri,
people to pay, it is our duty to save the on
State from dishonor. The last LegisIa. or
ure knew our situation; and while they IF
'romised very boaslingIy, they moved not r,
single finger to wipe out the stain of ha
ishonor. Our State is now under pro. Sp
est, and therefore commercially dishon- he
red. If am rightly informed, the State me
urlng this year will be protested for more an
han 1910 600 on account of tho IT Ronk