Columbus Democrat., 1841-09-18
communications.


gg,s -E.-. have been altered and changed by the
.r,a.smeg,al clartrr Of tie bank, winch charter
wa. acted upon by one singe Legislature, 3, re-
ouir,, tlg actions OF two distinct Leg >,stares. Lei
Us Tor moment entertain the Iel nal the supple
msar d.I undertake to change aud alter the terms
aud conditions upnn which the STATE contacted
with ,he stockholders to execute her bonds, wha
.I.itavaul Can f. affect The validity Of The ex-
eclu1n Of the bonds: BIZ no means at aF these
changes aud alterations were Illegal aud VOID, and |
bgiu. ,o are n1r buiiHg. They are uucom'itu-
tnnsl as q dead letter, and OF no efficacy whaevcr.
There is 40 principle better settled than that one 4
portion of law or charter MAY be void and the /
rest rood The fact that one section Or provision Of
al law i- unconstitutional does not render the whole
void--one part may stand and the other nol."-
But this only apphes 10 the subject matter embra-
ced in the hw-qot to the making ofa law. ltitls |
unconstitutional To make a law for certain purposes
without the action OF TWO Legislatures, the aw Tor
these celtain purposes must be passed by both Le-
gisatures else every section oft WI bt uneonsitu
tona.. But II this iaw, or any other passed as tie
constitution directs embrace matter which is un-
constitutional 10 IenSate upon, and other matter
which 1t is constitutional to regulate by law, then
this constitutional part will he valid aud the other
| part be void. The Union Bank charter pedgng
the faith of the State for the redemption Of money
to be borrowed Cor the Of the bank, is Of the
specil laws which require passage through two
Legislatures, therefore that part OF it which was
not thus passed is invalid, and as that part Of 1t al
tered the conditions upon which the bonds were to
issue and induced the Governor to issue them be-
fore the conditions OF the original bill had been com
! Piled with he acted without authority and not by
virtue Of the original act. If he had issued them
by virtue olthe original act and in conformity 10 It's
conditions, there would be some pausbIIlty in the
argument in favor Of paying the bonds. Bdl he did
not issue them by virtue of that bill IN accordance
with IT'S directions nor for the purpose mentioned
| therein. lie issued them to aid not the bank at
tempted to he established by that BILL Qor that bank
project was abandoned) but to aid a bank attempt
ed to be sabllShed by the supplemental charter
The bonds are not those which the original char
ter authorized 10 be issued, but they are bonds is
sued by virtue and under the conditions, liabilities
and directions OF an act conceded by all parties TO
be invalid. But il is cOntended that the first Sec
ton Of the supplement makes and constitutes The
State stakeholder in the bank, and auth0rses the
Governor to subscribe for five millions of stock in
tie name Of The State to be paid for out olthe pro-
ceedS ari3lng from the sale of the bonds. Now it
will not be observed that that section does not
change or alter the original charter" for that sec
ton makes the State directly Liable for five millions
ofdoIars to be borrowed on bonds which the orlti.
nal bill did not authorise to be issued on such terms
did not authorize the issuance OF until the stock
holders had secured the State against loss by mort
cages un aud and not UhUl the tauk shoud be es.
rabIi,hcd as arranged by said bid sc. Can't you
now see that the supplement did change the origi'
ma charter,and that it did change the liability oflhe
State! "But was il not entirely competent for tie
5 Legislature who passed the supplement 10 make nd
constitute the State stockhulder;' No In con
st,tuung the State stakeholder tie supplement
assumed authority to borrow money Oh the credit
OF the State to pay for the stock, which the c0nsli-
tuition said should nat be done by single lcgs
Iaturt and it directed the proceeds this trans
action which was To be founded on the treasury Of
: the State TO be appropriated 10 internal improve
mens, which was by The constitution forbidden to
be done except by consent OF two thirds olthe mem
berS oI both houses AS that bank which the ori
gina. charter proposed tC establish did not 60 into
Il opelatona5 there never were any Stockholders of
such bank-as that bank scheme was abandoned
the law upon the subject became dead letter and
1t the ctIon pedglng the faith Of the State died with
7. the rest 1t authorised the issuance Of bonds only
to and the bank which It's accompanying sections
descnbed-it existed Ouly neucIe, arounc
, which the other sections raied-ll was Tie heart O
the whole, and.as every ether substance in the ac
Il was dying and disappearing, II spirited away anl
;. IS gone, The supplemental act did not bring abou
= resurrection ul the original charter; it onlv con
" structed new out OF some OF the old bones anl
u new loretgn matter, but this newborn credturt
D. would have been legitimate and vigorous had they
SO not Incorporated into ii the 9th section OF the uil
y, dying act,and one or TWO new sections that bcona
v. not to such law. A bank can be established b,
Al virtue OF an act passed by only Legislature bu
"a not bank on the credit OF the State. In proving
= that the STATE IS liable TO pay the bonds it would b.
- shown that they were Issued for the benefit of ht
IN Union Bank, and if you prove this you show tia
e the Inon Bank has no legitimacy. lor a bank can
y not he established with the States pledge Tor il
st support without the action oftWo Legislatures an(
g. tins double action not having accompanied the ma
no king OF tins bank the bank is left baSeess in respec
"A 10 charter and the States pledge. " No part OF tn
= original charter required the action or passage
" Two legislatures, except that (which proposes Il
9! pledge the credit and faith Of tie Slate consequent
iy the stockholders eeere as fully and completely in
b. corpOrded as such al the first passage OF the orig
of nal charter as upon lis second pasSagc;'-that
10 they would have been fully incorporated at that tim
% ItSuch bank could have been created BY one lie
ylSature, and il there had been such stockholders
existence and they had accepted the charter by OF
NC ganizng and complying wth it but as lhiS chare
Il ITSELF declared that nothing embraced in ii should b
ar binding and edectua until sanctioned BY the mex
r. Legislature, there could have been no slockhoder
SlOrt a a Vpnr afiar tho 40 ,xc ~