Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-10-05
Messrs. GALES & srAron.
September 10th 1871.

Col. OLMsTEAD
SIR:-I cannot deny myself the pleas
ure Ofexpressing to you the qualification feel
upon knowing there is one at least of the An
ii Bond men who has the frankness to acknowl-
edge the question of the bonds to be judicial
one. This is manifest from the factthat let the
Legislature decide the case, either way will
not prevent the next legislature from revers-
ing such decision;to be governed by the decis-
ion Of the courts is to say the least, wise and
patriotic, that such decision should be had can
not be disputed, knowing the conflicting opin-
ions upon this. subject; TO levy a tax to pay the
interest forthwith, would be very impolitic and
unwise, from the fact that those who are OPP
posed to pay, would have to so into cour;
single handed and at great cost. To save this
trouble and expense, the legislature should no.
tify the bond holder of the objections urged to
paymen. by large portion Of the people of the
State soliciting trial by the courts ofthls
question. You win readily perceive the ridcu-
lois and revolutionary position of some ofour
candidates who assume the ground, that they
viii never pay in any event; if urged to do so
they are ready to fight. Now sir, suppose the
bank should save enough to pay, or any por-
ton Of it, what is to be done with the money!
Collect the debts due the bank for what! for
State purposes, or for the managers to squan-
der or are we to pursue course that will re-
lease all debtors to this institution! why not
release them ifwe.are not to pay in any event.
Oh but they say they want the debtors to pay.
would ask why ifthe bonds are not to be paid
would respectfully ask of you it the doctrine
prevails that the charter of the bank be uncon-
siitutional, the sale be in fraud, and so ex-
pressed by the legislature, win the bank be
able to collect any more of her debts! if so will
it not be the height offOlly to pursue such a
cdurse!For according 10 your views should the
judiciary give verdict against us you will
pay. Now SIT, it seems to me a formidable
objection, would then arse to payment, objec-
tors would contend that the bond holders wa:
bound to look to the bank, she had debts due
her which might if collected have paid the
, bonds or a portion of it, but from the action o
the, legislature, she, the bank, has been pre-
vented, and now the whole burthen falls OIL
those who are entirely innocent. Ought not the
: members who destroyed this source of pay
: ment, to be bound to make it good before you
come on those who were willing to pay as yoI
Z are, provided this bank be run TO insolvency
r and all It's assets applied to the payment Q
the bonds; another and a very Formidable OBJ
; lection to the raising this question at this tim
e and the course of the Anti-Bond men, is, the
e debtors TO this institution although they car
pay at thirty or forty cents in the dollar, Wi
not do SO, so long as there is prospect Of tn
= debt being killed altogether, as those who
!. have the money of the bank and do not ow
! her, can do nothing with it because the de
n mand is cut off from the hope; that the banl
i under the doctrine, now preached by the All
% ii bond men, will not be able TO collect
h cent, though the debtor be even able |
4 pay her. Sir is it not strange there should
: such SIamor about the constitution. now th
E, case is reversed. After the sale aud before ii
ID money was all received, the legislature was
d session, all was right and continued right
! long as there was a prospect of getting NOR
4. but the Governors proclamation blasted a
W hope of swindling further, then the hue al
n- cry began relative to what had already bee
sold, now that we had portion to be return
/. ed. There is one principle in your religion
ed hold to be good,and no religion is good that do
Y, not subscribe to it, and that is to do unto I
e men, as we would have them to do unto US,
-st like circumstances. We have had the none
We let US return it, but as this is denied let d
l. paities go into court, with the proof and '
% viii see.
Ie- Your Friend and Fellow Citizen,
oy JOHN GILMER.