The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1841-09-25


were passed:
ResolUed, That the State Of Mississip-
pl is neither morally nor legally bound /
topay the bonds Of the Mississippi Union /
Bank sold under and contrary to an |
unconstitutional charter of said bank |
to the United States Bank of Pennsyl- |
vanla through Nicholas Bddle, their
agent.
Resolved, That it is right and moral
tor the Mississippi Union Bank to pay
those bonds and interest mot in pounds, |
shlllings and pence, but in dollars and
cents,) according to the charter Of said
Bank.
RESOLVED, That ii is right and moral
fer the directors Of the Bank who have
had large accommodations from the Bank
with all others who are indebted to said
bank to pay up and enable the bank TO pay
said bonds as they become due, which
will preserve the honor and dignity of
the State.
This is the general tone of the Anti
Bond argument. Now, fellow-citizens,
we ask you, in all candor and sincerity,
with US few minutes, to look at this ar
gument.
The first resolution denies unqualified
ly, that the State is either legaIly or
morally bound TO pay the bonds, upon the
grounds, first, that they were sold under
an unconstitutional charter. And Sc
c0nd, that they were sold contrary to an
unconstitutional charter. Here the
bank, or the charter of the bank, is I'M
qua ifiedIy declared to be uHconstitltiioa-
a. And this is the reason or d reason
why the State is not bound Mark now
The charter Of the bank IS declared an
r constitutional Now, reader, look back
again, if you please, and read the Sc
3 cond resolution. "It is right and moral
for the Mississippi Union Bank to pay
7 those bonds and interest" And the
third resolution asserts the propriety OF
the debtors Of the bank paying up, that
the funds may be forthcoming to pay the
bonds with
Now, we fully concur in these two
last resolutions. But see how perfectly
$ dead they are killed by the first. If the
charter of the bank is unconstitutional
then it is utterly null and U0jd-there i.
no charter-there is no bank. Every
!, transaction purporting TO have made by
mississippi Union Bank" is utterly
cold, for there is no law creating such ;
a. bank. What can be more palpabIy alb
surd than to talk of such institution col
lecting and paying large sums of money
vhicb has no legal existence. A aothin!
= an utter nulLity is to enter our court
institute and carry on suits in law an
equity against various citizens, and CO..
Iect large sums of money and pay it oy
err in discharge Of bonds! Could an
proposition be more ridiculous? VIII
every man sees at once that the Unto
Bank debts can be collected only b
It. maintaining the constitutionality OF tn
bank. Destroy the existence of til
ID, bank, and who, or what, or in what wa
: can these debts be collected. 1t is 10
plain for argument that to destroy th
legal existence Of the bank, is to forgiv
nd every one Of its debtors his debt Nov
this is the very thing we want. w
want the bank debtors and stakeholder
to pay up, and have the money paid owe
for And for this reason we want to sustai
the legal existence Of the bank. TT
charter of the bank, in all probabilit,
his will never be used for any other pu
pose except for the collection Of the.
debts, and for this reason it must be su
tanned. But these resolutions say tho
debts are valid and ought to be collec
ed, and say also, that is utterly imposs
bic to collect one Of them, for they So
on the charter unconstitutional! And tn
argument is graveIy put forth to the pc
pie by public meeting!
her No man can hold up his head bold
in society and say, that the borrow
money which was loaned out to our CT
,ar. zens ought not to be returned from t
citizens and 90 back to those who lie
it, And yet we hear THOSE DEBTo
boldly in the field denying the constitute
aIaty of the bank, Which they Uery 70
,r1d kn0lc discharges their debts AND THRo7
THE WHOLE BURDEN UPON THE PEOPLE!!!
Will the PEOPLE sanction it? VIII
of people suffer it? Will they allow the
he debtors to play this game-keep the r
es- ney they got from the bank and lea
UNI the bonds for the people to pay?
The The BANK DEBToRs-the bank de5tC
hen fellow citizens, are at the bottom Of t
j at plot What can be palmer? If tt
OF can make out that the bonds are unc
9TH stitutional then there is no power
ted: earth that can demand Of them the |
rom ney they have borrowed. They h
pom made that much clear! Here fellow C
up zens is the secrett The dnti-debt pay
to are the anti bond DnBers. But we gen
J, as men, We are not to be gulled in |
lde! way. We aoiU sustain the Bank Ch
ter IN order to compel YOU 10 disgor