Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-08-28

,nl.ns upon me people, Ia
ever he shall gs'hs m.a4 ...T...-. as
o comprehend how tie Coa.,.r....
. ...' agents III. and make them both .,..
'Tu'' he will frankly confess ,b.. .'''
making ola law 10 borrow n.s7., .s'l''''
0' The >'''e' and RESPECTING Ian. - e
prove a transaction PurForinp 70 -
'opay borrowed uOney,,hey ara 70, :
"'sn acting under the expressed .s,-'e
people That they are no, above H..
not able by der own acts NJ,
selves violate the Constitution, ;, ~. y
constitute nal res;rjction-and ,os, '-.!
OF o"Npo'erce' They are by d. Gov.
de'Iar ed to be Incapable oflesaI,s.o r',''.
State loan BY the action Of he Ls,..
The reoPle's consent mus, pr,coa, ~, u
action upon it. This has by oilers s..,.
been so satisfactorily explained hail
attempt 10 illustrate II further.
For illustration, he has introduced
sor, or rather disparity, viz: ana,
to sell certain tract Of land 10 B. wb,. ''1'
to T. and Z stands by in silence and PERM, !.
offer and sell the land to B as bis, G ,s.
IN equity from denying As tile TIN, -.
no analogy TO The bond case. A is no, a, ,-... i
sPecitI and limited powers, but as c sa,j, l.
by his silence consents 10 As aetna ! :
becomes C's unlimited agent IN selin, -
In the bond case the Legislator. rep,s..u.
who proposed to sell the and; and Ncbo,. D.
die represents b to whom the land i os.,.i
the People represent G the owner oftbo H.
Now, will the gentleman say that ,be D..
stood by and by their silence consented ,s,,
Legislature, by commissioners, shopll ca .
bonds will he say that the people w,r ,s,,-
bled around the parties in some gre,,us.a
Philadelphia or elsewhere, wherever the sa m.
place ? Certainly not. He knows the De,n.. /.
not stand by aud silently consent. Thew h'cs NJ.
yer till now had the question fully be5p ,.a-
and have never yet been consulted and aove.
opportunity to assent or dissent
understand han to contend that an orco,,
tonaI hal illy upon the people was created 4, d
final passage OF the original bill. That meth.
the 9Th 7th Sin nor aiy III all other sections N,
any qualifying or conditional bearing on he s
section, winch, upon It's face, purpurls to pI,c.
the State. Now II Is beyond Cayl that ID, 5
section pledges only under the conditions v,
winch II IS accompanied in other sections I
9th section makes The bonds negotiable itEoq
the President and Cashier Of the batk d
through no other hands could they have gorJ
the pubic. they were required 10 endorse lat
before they could be sold aud consequently
fore the State could be made liable Ior iLer
demptlon, The Slh section requires ibe ST.
holders 10 have gwen mortgages 10 secure
payment of sand bonds. Can there be any sCI
Bile reasons given TO show lnai these morjgs
we're Lot requled to be given precedent TO
issuance OF the bonds Certainly every n1T'
diced person must ste That Il the SIocSh"l
were allowed 10 sell the bonds and receive
proceeds before executing then moIlgaGes Y
might Afterwards have refused 10 execute IN
II was IN part upon condition that such mOIlsa
should be- made 10y the ,tockhoIdeTs' aa'
bonds were TO issue, Ii a agrees to 'land s.
riy tor Il on condition that B wall INDEMNIFY
against loss, by giving HIM a norsaee00
most aSsuredy A Will not sign as sucn sec.
until after Il has executed such morieSse'
; else y SO with the State; she ugrted'Pro'oeo
original bill was legally passed 10 be 'eeV'"
the stockholders ON condition that 'hty
FIRST by mortgages secure her against lVs''
conpIy with all other precedent c'na'"''
SAT bill. Ii IS useless to say a' some nave
and particularly e. writer il the A'eu''
10Th inst, that the State is pnnc'P'' "
bonds. The law under which they "eIs
must govern that matter, anl that Ia" mani
only security. If my position Is 'o7''
State was pledged only on condition '0a' d
; should be established on the exact pIa"
original blII--lhat the Stockholders q
bank thus created first secured the pa!neo
bonds by mortgages on lands, and 'n'' W. q
should be endorsed by the President anu :
OF the bank proposed to be established
d. plan. Was such bank established :
. such mortgages thus executed ! Ind nc
and Cashier Of a bank thus established q
these bonds No, none OF these 'O'0o'
place. :,
But perhaps have been too liberal anu
v ed this Mississippi Union Bank Attorney q
t, ing which he did not intend 10 convey i'
=" Now do the 9TH and sth sections co7'
: conditions precedent to the PlcdsIoS o, 'O'
faith OF the execution OF the bonds! NV"'
ever. The faith Of the State is PLEDGED aus
d and Observation-Disclosures the 9TH secnO"
q dies this clear language The faith q h'
be, and is hereby Pledged" Perhaps Nv
that an unconditional liability was c'eaeu
l moment the bill finally passed, because
/! and Sth sec tons do not prscede Inc ON
Who before believed that because the o,n
4 precedes the 7ih and Sth, the TN ana gu
!, not intended to qualify, .Imh and govern
y section Now, let's see how TINS "'U'
generaiIy.-ln writing mortgage 'DS u
Il ton IS made to describe he parties ana p
y aod by it the moItgager sells. and 'Ia''' q,
lately and Internationally oil the d'sg ,,
perry, Here, then. is section preeeu"s