Lexington union. (Lexington, Miss.) 1838-18??, 1841-02-27

the commissioners derived their authority
- sell the State bonds. In making this
examination, he OF course saw the terms
prescribed BY the State, for the sale Of the
bonds; but seeing aQopporiunity 10 swindle
the State outsoi onahundred d fifty thou
sand dolIofs. Il was JUS: as impossible for
Mr. BiddIe TO resist the temptation, as for
tho deviLtohate sin. now ask you seri
ously wheilferyo will assist by your votes,
the U. States Bank, TO perpetrato a fraud
so daring and outrageous, against the state.
No, am sure You will not. II the com.
mlssioners acted under Instructions from
the Union Bank, in disposing Of the bonds
The bank is responsible, and let the bond
holders look to the Union Bank for pay
ment. For, il the commissioners had
positive instructions, from the bank, to sell
/ the bonds in the manner they did,the bank
as endorser of the bonds, (lhe considera-
ton of which has failed, } becomes respon
sible; and this has long been settled at law,
that even the enderser of note, upon
a suit brought on the note, is Liable, altho'
| the maker may be released. Ii does not
then follow, that the bank is released, be.
cause the state is mol liable for the payment
Of the bonds. Cfbe state cannot be made
liable in her sovereign capacity, although
she may be liable as a stock holder, IN pro-
portion TO the amount of stock she owns in
said bank, but no further. Again, upon
what principal of moral Justice can the
State be called upon to pay for bonds for
which she is not legally liable2 II, sir,
you admit the principle, that English
stocklobbers can tamper with our agents,
and by fraud aud bribery obtain possession
OF our bonds, aud that our posierily must
I,nger out miserable existence, to sup,
I port the authors Of onr misery, we have
come to state deploIable and lamentable
indeed.
If the people Of the state all had been
equally benefited by the bank, they could
not complain Of being taxed, bur so far
from this being the case, it was in the
iewest instances, that the hard working
farmer could get one dollar from the bank.
All her loans were to favorites Of the
bank spectators. No one man in fifty
received even tho imaginary benefit of
loan, while every citizen Of The State was
pIundered by the depreciation Of its paper.
Indeed, the officers of the bank seemed to
be the only persons benefited by The ex.
lsence Of bank, their several liabilities
ranging from sixty to two hundred and
twelve thousand dollars, and aItho' they
are not "cf The faHh," they seem in his
instance, to have taken the holy writ for
heir guide, which snye,h; ale who proyi-
deIh not for his own household, is worse
than an inhdeI," but it Is needless to 90
inru detaii
The bank commenced by an illegal and
fraudulent sale Of the state bonds, and n
all OF its subsequent acts followed suit, g.
1t now only remains for us to determine
whether the State is bound for the pay.
trent oltho bonds sold for The benefit Of the !
Union Bank. Is it possible am seriously
called upon to vote for these resolutions |
to make the state liable for the payment
Of the Union Bank bonds. Ii | should
ever so tar forget the interest of my constt.
uents, rs to vote for these resolutions, |
would be afraid that the spirit of some De.
parted ancestor would rise from The dead
and rebuke me, The aged father whose
snowy locks, denote years OF labor and
toll, 10 accumulate pittance for himself
and family, in the decline of life, would
reoukc me, my constituents would rebuke
me, my conscience would rebuke me.
Heaven would rebuke me. Pass these
resolutions, sir, and you will reduce us TO
the lowest state of degradation, and make
the state a bowling wilderness. Pass
these resolution, and your ports which
are thronged with ships from every cline,
will be deserted. Your beautiful rivers,
along whose channels unconquored steam
rides like sea-god, carrying off the pro-
lucls OF your fertile soil, will move along
in their course. Yonr plan,a,
ions which are now whitened with the
beautiful staple OF your state, will be left
iesoIate and become the abode of beasts !
II the forest. Your towns will be deser.
60, your country depopuIated, and if any
Mould survive the wreck, they will curse !
hose who brought this suffering and dm :
ress on the state, they will mourn over i
er iailen fortunes, and weep over the Il
memory Of those days, when the sun of |
heaven seemed but to rise for happiness. i
nave detained the House alrendv foo =