Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-07-31
Amsterdam 22ad May, 1911.


CtJ q Jackson july IS, ISL.
GENrLLMEN


Gig Of Jachsoa july IS, ISL.
GENTLEMEN;
have received your letter dated Amsterdam,
22d May ls4l, post marked Washington Guy,
June 2l>l 1871, and bearing the official lrauk
Of lie Hon. DInel Webster, Secretary Of State
Of tie uaued States. have duly considered
tao coaten,S therfo'. Those bonds we're ro,
sodiA accotdauce with the Constitution and laws
o, tals State. - Fhoy we're delivered by me as an
oGous, 10 be sold at not less than their par val.
ue and cash a. The slalale oil this State requI'
I'd. Inc chatter o. the Mississippi Union Bank
pe'cnbeS NOT only tie sub >tuuce bat the form OF
The boads and plogids that they shall be IN the
snn Of two thousand dollar. each, (Which sum
he sad State OF Mississippi promises to pay IL
current money Of the United States" 10 The or
der o. the bank, with interest al TIE rae Of tive per
cent per annum, payable half yearly, a, the place
named in tue endorsement Of tie bonds. The
That act further provides that "saId bonds Shall
not b8 sold under their par value" The tonds
having been delivered 10 the managers the
bank 10 be sold or. certain conditions, the State
canao be bound for lher redemption unless the
terms prescribed we're complied with in the SALE
The constitution Of this State expressly pro-
yIes that no law shall ever be passed to raise
IJanoi money upon the credit oil the State or to
pledge I'll faith Of the State for the payment or
redemption OF any 10 N or debt, unless such Law
De ptoposcd IN the Senate or House OF RepreSen'
a''ts and be agreed 10 by a majority Of the
meHlbus Of each house and entered on their
journals, with the yeas and nays taken thereon
and DeteIered 10 the next succeeding Legislature
and PUBLISHED Tor three months previous 10 the next
regual election in three newspapers OF this State;
aud anfss a majority o., each branch Of the Legs
stature so elected, after such publication. shl a.
gree to and pass such law and in such case
ne yea' and nays shall be taken and entered
on lhe puihalS oi each house. that nothing in
'a's secaon shall be SO construed as TO prevent
hr legislature from negotiating further loan OF
one aud a half millions Of dollars, and veslIng
'as same IN stock reserved to The state by the
caailer o. the Planters Bank Of the state Of
Mississippi"
Eve mLl,ors OF State Bonds, dated the 9th, 9th,
Sth, and 9th days Of June 1898, were sold
y 'he commissioners appointed by The Mississippi
,Moa Bank, to Nicholas BlddIo Esq. on the
i',A day Of August 1888 for five millions Of
O'''afs, lawful money Of the United States pay.
I't IA i've equal lislamens Of one million Of
o''afs each on the first day OF November one
~0lsand eight huadred and lhnly eigh, ard on
W lfst days of January, March, May aud
Oa'y IN the year one thousand eight hundred and
4ily nne' aud IN de payable at tie agency Of
-s bank Of the United States in London IN Ster.
VOC money Of Great Britain al the rate Of four
'~Ni'ass and sxpence 10 the dollar with interest
r?a0!e SENT annually at the same place and
''a faie.' No authority was ever given by any
'0 d the legislature OF this stats 10 change the
pp'r'eacy m which SAID bonds were made payable
'!stdng the BoadS on credit, and changing
sAhom dollars current money Of the United
sa'es to Pou ids Sletlng Of Great Britain the
lowing suns we're lost:
'"sIesl on FIVE millions State Bones from
10 June 1898, 10 Nov. 1888,
+. Slo0,o00C0
'1efeat on four millions
"o months, 33,33s IS
'''sfesi On three millions
'So months, 24.0oe o6
west On two millions
l, ao months, 1866 "a
crest on one million
40 months, $3.50 80
n- sls3,s3s 80
19''Oce between five millions do.
as principal Of State Bonds, in