Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-08-03


he says, "The bonds bear interest from the
dale thereof, and the bank has already paid
one hundred thousand dollars interest there
on" In the face of all these admissions by
by Gov. McNutt, Of the liability of the State
Tor the payment of these bonds, he now posi-.
lively asserts, This State never will pay the
five millions Of dollars Of State bonds issued in
June 1888, or any portion Of the interest due,
or TO become due thereon" Who gave you
the right, thou bloated mass Of animated
grease and corruption, thou living personifica-
ton ola Whiskey grogshop poliilcian-to de-
clare in lhe name IF the State Of Mississippi,
that she nsrer will pay the five millions of dol
lars, which she so Justly owes, aud to discharge
which she so repeatedly expressed her obIiga-
ton through her legislative action and through
your honorable sell, her cliefexecuiive offcerl
II this negociation OF the Safe Bonds had
been marked with fraud as manifesty as your
Honor's rubicund face shows the blushng hon.
ors which you have gained in your many well
contested conflicts in the wars Of Bacchus, the
State would be required, uToa her application
to any Court of Equity, to protect her against
such fraudulent transaction, TO place the hol-
ders Of he bondsin their Original position by
refunding the five millions of dollars
which had been obtained upon the pledge
Of her faith. outstanding these ad-
missions which we have quoted from the
messages of our Honorable Governor,
and there are many others which we
might cite, if we did not deem these suffi-
cient for our purpose, all acknowledging
the liability of the State for this debt, not.
outstanding there have been three ses-
sions of the Legislature since this nego-
iiation, during not one of which was the
States obligation to pay these bonds den-
ed, but on the contrary repeatedly admit
ted either directly or indirectly by Legis.
lItive action, Governor McNuit, with
re;klessness of truth and disregard
Of character, FOR which His Excellencv
has most unenviable notoriety, asserts in
his letter TO Hope & Co., that the Govern.
ment ofthis State never has countenanced,
aud cannot be made responsible for the
com missioners acts of the Mississippi U.
Bank. But tor the sake Of argumen.
merely, admitting that the objections
which Governor McNutt makes to the
original negotiation of these bonds by the
commissioners did exist, We would enquire
what has been the subsequent course Of
the State in regard TO the transaclionl-
Has she not allowed three years to trans
oire without giving any express declaration
Of her refusal 10 conform to the terms of
Inc contract made in her name, but on the
contrary has she not held three sessions of
lcr Legislature in the meantime, at each
of which her responsibility was unhesita-
ingly acknowledged by her legally consli.
uted aulhortiesl Has she not repeated
y legislaed in regard TO the Union Bank,
aud assumed 4 supervisory control over
& operations upon the grounds that the
State had furnished the capital by selling
her bonds 10 raise funds, for which she
was responsible Has she not used this
institution as her fiscal agent, and actually
borrowed money from ii? And, it it were
a matter properly COZ ing within the action
Of the people, have they not repeatedly
had elections both of their Legislative
and Executive officers in the meantime.
and among Them, that of His Exec Iency,
the distinguished indivdua! who at present
occupies the Chair Of Governor Of this
totel Was the subject of the payment
Of these bonds made q political question
at any oae of these elections! Ii was not
until the Democrats had received a most
signal defe1t il this State and hid lost the
power which they had pcs, essed, and
used with such mischievCIS effect, that
they mounted this auti-bond hobby, upon
which they expect to ride over the pros.
trate character Of the State, and REGAIN
their position III her Government. With
all these facts within his knowledge, Gov.
McNutt denies all obligation or the State
to pay these bonds, and in conclusion ri.
dicuo isly quotes some acknowledged
principles Of law that have as little relation
TO the actual question at issue as tie dec
alogue would have.
Adopting in conclusion the language
which he uses 10 Messrs. Hope & Co. we
would say to His Exceency, your great
experience in governmental affairs, no
doubt, has made you familiar with the
principles of national law, but we beg
leave to draw your Honor's attention
to the following positions of Law laid
down in Rutherforth's Institutes, page
$751;
".Sponsions, or engagements, are COM
pacts made by an inferior magistrate, OF
officer, on the behalf ofthe state,to which
he belongs, without being authorized to
act for it. Such compacts, since they are
made without the authority of the State.do
not bind j. unless it confirms them aftel
they are made. Butt is not necessary tina,
this confirmation should be an expires.
one. The State, to which the sponsor,
belong, lacitly binds itself to fulfil wha
rhoy have engaged for on its behalf, by a /;
ting under the engagement, as if it under
stood itself TO be obliged"
On page 55s Ruth. ms. you will fnt
this principle laid down as Law
"But if the sponsors, besides thei
hare co,nDact bava oivan the narSon