Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1841-08-14
MISSISSIPPI lsn

mounts to the sum of three hundred and sew
Ienty thousand dollars. TOPRESERVET THE
HONOR OF THE STATE UNSULLIED,
AND HER CREDIT UNIMPAIRED, 1T is
lOF THE LAST IMPORTANCE THAT
THE INTEREST SHOULD BE PUNC-
|TUALLY PAID AT THE PLACES DE-
|SIGNATED, AND AMPLE FUNDS PRO.
VIDED FOR THE REDEMPTION OF THE
PRINCIPAL is usually much easier 10
borrow and spend money, than to provide the
means of payment.
My recorded votes on the Journals of the
Senate. as well as my speeches during the
canvass preceding my election to the Office ]
now occupy, show that never was in favor
of pledging the faith of the State for banking
purposes, bat inasmuch as tie question had been
long before the people, and had twice receiued
their sanction, signed the charter of the Mis-.
sissiPpi Union Bank, having no constitutional
Iscruples."
This 1t strikes us is pretty conclusive evi.
dence that the "faith of this government i,
pledged for what the Governor now terms the
"illegal and fraudulent sale of those bonds
but we do not choose to rest the question here
and we beg the reader to take a look with us
at another portion of the same message, which
may be found at pages 81 and % House Jour.
nal, 1889. Speaking of the Union Bank hi:
Excellency said:
"1he State by her credit alone, has furnish
ed the WHOLE capital of the Mississippi UNio,
BANK and justice requires that she should Aau
tile aPpointnaentof majority Of the directors
and it is deserving of your serious considera
ton whether the charter ought not be amended
so as to secure to tie State Controlling infu
ence over the Institution!
The large interest which the State possess
es in the Planters, and Union Bank makes i
incumbent on me to call your particular atten
ton to the affairs and conduct of those insti
tutions. THE FAITH OF THE STATE
is PLEDGED FOR THE REDEMPTION
of two millions of dollars of bonds, sold t
take stock in the Planters Bank, AND FOF
THE WHOLE OF THE CAPITAL OF
THE MISSISSIPPI UNION BANK!ll A
/ just regard for the HONOR OF THE STATE DE
MANDs that those institutions should be man
aged with prudence, in order that AMPLE PRO
VISION BE MADE FOR THE PUNcTUAL PAYMENT
OF THE INTEREST AND OF THE BONDS AT MATU
RITy -
This, we think, is quite as explicit as Ian
guage can make any thing, but we prefer t.
give it one more cILNcH, and for that purpose
we beg the reader to bear with us, until we
make another extract, which we take from
the Governors message at the opening of tn.
Legislature in January, 1910; and after he hat
the benefit of another whole year to deliberate
upon the matter. On page 81, Senate Jour
nal 1910, the reader will find the following
striking passage in relation to the Union Bank
1t is stronger, if possible, than any other quo
tation We have yet made, and ask the reader
particular attention to it.
"THE FAITH OF THE STATE is PLEDGED Fol
THE WHOLE CAPITAL STOCK, AND THE PRoPERT,
OF ALL HER CITIZENS MAY HEREAF
TER BE TAXED TO MAKE UP IT'S LOS
SEES AND DEFALCATIONS. The right O
the people, therefore, to know the conduct G
all its agents, and the liabilities of every on
of its debtors, CANNOT BE QUESTIONED"
Fl Here we close our quotations from his exec
llency's messages, and We now ask the reade
to compare the declaration he makes in hi
letter to Hope & Co., that 'sTHE FAITH OF TIL
CONVENIENT HAS NEVER BEEN PLEDGED for tn
illegal and fraudulent sale of those bonds,
! with the extracts we have already made fror
his messages in 1889 and 1910. If, as Go,
j McNutt now asserts, the State never was Tia
Bile for the bonds sold for the benefit of the Ur
ion Bank, why did he tell falsehood in hi
annual message 10 the peoples representative
lin 1888, when he said the estate debt" amour