Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-11-30

minated Mrssrs. Colquitt, Cooper and Blnck. a. su,.
able candidates 10 supply the three vscaucirs in their
Congressional Delegation. The Election is 10 take
place ON the lst Monday in January.
MIR. W. S. Rogers, of The Federal Union" Demo.
craft has been appointed State Printer, by n vote Of
i3o 10 ca Contributed among several other nominees.
10 1YE EDITOR OF n ENQUIRER.
"'af6son, (.hiss~l .voo. ION, 1Sil.
"SIR The Election for State and Comfy Oi;car.
took place IN thus State on the first and second days of
this month. The result is known here. and all the
counties have been heard from, except six. The ami.
Bond ticket has succeeded by m AVERAGE majority or
near three thousand votes. Tilghman NJ. Tucker is
elected Governor William McKendree Gwin, and
Jacob Thompson. Representatives III Congress Au
yustus B. Saunders, Auditor of Public Accounts; Rich.
ard S. Graves, State. Treasurer and John ID. Freeman,
Attorney General. These gentlemen are oil Demo.
Gratis. We have probably lost our Secretary OF State
by runninc two candidates., (Woodwards and WIil'ams)
The Legislature will consist Of twenty-one Or twenty
two anti. Bondmen in the Senate and from fftyeight
tn sixiy-two Representatives in the House Inc
Bondmen will have from ten 10 eleven Senator's, ano
from thirty six to forty Representatives. 1t IS quite
certain, that the anti Bondmen will have a majority oil
two. thirds in each branch Of the Legislature. inns re-
suit will astound many persons abroad, who are ignorant
Of the grounds on which the State rfsisis the payment
of the FIVE millions Of dollars in State Bonds delivered
to the Mississippi Union Bank, and negotiated by that
institution. l send you a copy of my letter to Hope
~ Co, and request yon to publish the same IN the En-
quirer. Our Senator, Robert j. Walker, and our Re-
representatives., Gwin and Thompson, sustain me in the
positions | have taken. A demand will probably be
made on the Government of the United States, for the
payment OF the Bonds referred to. This will raise an
exciting and perplexing question. This State has de.
fined her position, and will maintain it be the conse.
quences what they may. | firmly believe, that four
fflhs Of the people Of this State prefer going to war to
paying the Bonds.
of the Legislature generally, pledged themselves 10 op-
pose any bill! intended TO tax the people, to pay either
the principal and interest of those Bonds. But for this,
and national politics, the State would have been almost
unanimous in opposing the payment of The Bonds.
"The Mississippi Union Bank is hopelessly insol-
vent. and has made an assignment Of all her effects TO
her President ,(Elliot,0 Cashier, (Clopton,0 and Attorney
(Scott) This was done for the benefit OF all her creditors,
and to save the wreck of her fortunes She was sued
in the Federal Court for about $500, 600. Her circnla-
ton is near two million two hundred thousand dollars
She gives each assignee 81 900 per annum in specie or
it's equivalent. With good management, her clrcnia-
ton may eventually be paid. The whole stock is sunk.
Her paper is now selling at thirty five cents TO the dol
lar.
81 have been a subscriber to your paper for more than
twenty years. am q native of Virginia. l am not
and never have been a stockholder or debtor oil INC
Mississippi Union Bank. ] never requested 1t to loan
money 10 myself or friends. AS Senator, ! voted
against it's charter, and always have opposed pledglng
the faith of the State for banking purposes. Atthe risk
of my life, and political aspirations, prevented the
sale Of ten and a half millions Of Bonds authorized IN
be given ny Twin tO Tue CiIOu ann rs haS =
signed as Governor the charter of the Bank. did so
in obedience to the public will. ! warned the people
of the evil consequences of engaging the State as
security for reckless Spectators. The action OF this
State, earnestly hope, will forever destroy the rum
Gus svstem Of borrowing money abroad, to be wasted IN
Banking aud visionary systems oil Internal Improve
ment.
"Two squares of the Town Of vicksburg were dc.
stroyed by fire night before last. Yours, trnly:.
A. G. McNUTT.
Correspondence Of the G"rernor Of Mississippi, 'riM
Hope d Co., If .7msterdam, Holland, in relation 10
the payment Of the interest on Ms Onion Bank Bonds.
To me GoecrRor IF fhc State If Mississippi:
The undersigned, as trustses for the holders OF De-
bentures al the Bank If the u. S. at Philadelphia on
lcpos,;e Of American Slate Stocks, and amongst others
of considerable amount Of Bonds Of the State ot Mis-.
sissippi bearing five per cent interest, issued through
the Union Bank of Mississippi, and made payable al
the agency of the United States Bank OF Prnnsylva-
mia in London, the principal in 1850 and 1853, and the
dividends semi.annualiy in May and MISUNDERSTANDING
been refused payment Of the interes due the hrst OF
this month OH said bonds, are compelled to address
themselves TO The government OF the State OF Mississip.
pi; and from their confidence in the faith ut That 90
vernment they feel convinced, that the simple mention
ing the fact Of the non. payment vii! be a suihcient
stimulus for tue government OF the State oil Mississippi
10 take immediate measures tor the payment oil the IN
terest now due and which will further successfully be-
come due on those bonds, and 10 prevent irregularities
or demur SO prejudicial to the interest Of American
credit in general and to that Of the siute Of Mississippi
in particular. HOPE Il co.
AMsrnnDAx, 2ad May, lsll.
Erteutise Department,
City Of Jackson, July, lS4l.
Gentlemen: / have received your letter dated Am.
sterdam, 2d May, 164l, postmarked Washington city,
June 2lsl. 1871, and bearing The official frank Of the
Hon. Daaiel Webster, Secretary of State ofihe Y. 3. ]
have duly considered the contents thereof. Those bonds
were not sold in accordance with the Constitution and
| lama re This State They were delivered by me as
eserocs, to be sold at not less Than their par ratus and
for cash as the statute Of this State required. The
Charter of the Mississippi Union Bank p%rescrihes not
only the Substance, but the form of tile bonds, and pro-
vides that they shall be in the sum of two thousand dol
lars each, (which sum the said State OF Mississippi
promises TO pay in current money ot the U. D. To the
order of the bank, with interest At the rate of FIVE per
cent per annum, payable half yearly, at the place
named in the endorsement OF the bonds Inc ACT inr'
Their provides that 'said bonds shall not be sold un-
der their par value" The bonds having been deli
vered to the managers Of the bank 10 be sold on Ger
tain conditions, the State cannot be bound Tor their
redemption, unless the terms prescribed were com.
plied with in the sale. The Constitution Of this State
expressly provides, that s'no law shall ever be passed to
raise a loan of money upon the credit OF the Stale, or
to pledge the faith of the State for the payment or re-
demption of nny loan or debt, unless such law be pro-
posed in The Senate or Hnuse Of Representatives, and
be agreed to by a majority Of the members OF each
house and entered on their journals, with The yeas and
nays taken thereon, and he referred to the next sue.
ceeding Legislature, and published for three months
previous to the next regular election, in three newspa-
pers of this State; and unless a majority of each branch
Of the Legislature so elected, after such publication,
shall agree to and pass such law; and in such case the
yeas aud nays shall be taken and entered on the jour
nails Of each House: Provided, that nothing in this sec
ton shall be SO construed as to prevent the legislature
from negotiating a further loan of one and q half mil.
lions of dollars, and vesting the same in stock reserved
10 the State by the charter Of the Planters Bank ofthe
State OF Mississippi"
Five millions of State Bonds, dated the 9Th, 9th, 7lh,
s,h and 9th days of June, 1898, were sold by the COM
sloners appointed by the Mississippi Union Bank, to
Nicholas Biddle, Esq, on the 18th day ofAugus', less,
for FIVE millions of dollars, lawful money Of the y. s.,
PAYABLE in f i've equal instalments ofone million Of dollars
each, on the FRS, day of Nov. one thousand eight hum
bred and thirty eight, and on the first day Of January,
March, May and July in the year one thousand eight
: hundred end thirty nine" and "made payable at the
Agency Of the U. States in London in Sterling money