Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-03-20

.-rH- Tue vh-'e upon the people. And am
=. r-ss TO aCC-uu; icr it.~ sI -u.sI l'gcs'0
-.- Hsta toS DAYS PiruQgs, tasTe had been
..-.+--.r of fhe Stockholders ef the Union Bank
ab.ch. there was much discussion as TO What
I'D be done n the premises; ba; taes ulu-
.-,rsly concluded tn petition OF rather say dictate
A., he legislature say NJ, hat d the legislature
.,r.B release them from all visibility, as
,,rrkbolters, iha; they would most willingly re
,r,p the state bonds, which were unsoid, and give
81, the B5nk and all Its assets 10 the State: now.
.rtbe stockholders consider themselves not bound,
,by REQUIRE any act releasing them! aud # the
r,rk and intstes; which Is in ihe Bans, be Who
/, Safe interests; why should they dictate the
ems upon which the State shall receive and
manage q
GBot genllemeBurce that the bonds Which have
heep sold, we're executed al sold under the sup
elemental act and alho' the act was al inst VOID
or could not pledge The faith Of the State, yet
that in as much as the agents Of the people have
received the money. and The legislature have re-
acted on the subject aud having, il various meth
cd, acknowledge it by indirect action, that there
fore the people are, bound, to pay Ih1 bonds:
DENY that any agent Of The people has received
the money or that one cent OF It has been appro-
priated, in any manner, TO the use OF the State
further deny that any uciIon OF the leg'sIa'
tire, except as is pointed out IN The Consutu:
wiop, can in any manner, pledge the faith OF the
sots for one sous; for It is well settled pHhelpIe
N lawthat il requires the same Soemnilles tocon-
frma contract (mder seaD thatl does to form Il
therefore the supplemental act must 20 thIo all 'he
forms required by the constitution IN Older lha' II
can in any manner pledge the faith oil the o'a'e'
and there Is no man who will hayelhe haFdlhood To
sey that this has been done urge,that shou'u
an individual give a special power OF attorney 10
another 70 transact piece OF business, that dllho
tbs .porney should not conform to the letter, yet
fine principal can confirm the contract by receIy-
inc be proceeds, and going forward to ackwoI'
sJge and recognise the act of his attorney, eth
or by word or deed, this Is true, there beng no SCI
form by which an individual is bound; but 'he
case has no apology when applied TO The State; ior
,ba statr acts at all times by her agents, and all her
AGENTS are bound by he same special Pot'sr o
attorney THE constitution which IS unal.sIeu'
ooere,np at nil times, under all clrculnstSTces
md upon all agents: and should nncty-nIne false
a-eots a,lempt TO pledge her faith aud bind her
contrary 10 the special poirer Of GHorneyIhe con-
s,:,,,o. !, I'D be nudity; but this argument
operates against the Stockholders '''t a''',o ",e"
,uoftcaces and bonds were not executed = h'
fine acquired By the original charter they or
nort of them have subsequently done so; but as
have before said my object Is not to mPiea'e
the stockhoder, nor could do so, II they are mol
already mpicated nor if they are bound can
he legislature release them, unless, by taxing me
oeoole and paving the debit and this will never
consent 10 do for it would be, to require the peo'
ME who were but by ISLANDERS, whilst the game
was plsyinc to pay all losses-ol all the species
Of gambling this would be the most outrageous
ran never agles to ii sno her and perhaps, The
mos, singular argument II It may be so called
;,uroed BY nv friend Y. 4. Howard Esq, which
!. Tint the Slato bonds are held by foreigners
,d that foreigners are not bound to knoto welh'
~ the bonds have been executed aereebIy
IA lhe Colms Of our constitution, any more man
,,o, o,e hound to know whether the charter has
b,en read three several times on lis passage
ton this il would appear, that we are under more
. or greater obligations to the STOCK Gahlpiets
Of Eur pe, than we are to our own citizens llad
INV friend II. lived in the days OF Alexander
HANK n he, doubtless would have borne Of
the HIGHEST honor., in the school Of Federal poi
ncs.. far his facility of making Stale debts anC
N,m,pon's TO assume Ihpm, The liberties Of the
neonIe would quickly disappear and the govern
men, eut rely rcmpdalled and fashioned on the
EnUlsh pan. A national debt is a national blessing
he know il tho motto OF a certain political sect Il
our country | am clearly OF opinion that the ex
lstence Of our happy form Of government, Is IN
yolyed in this question; for If such vast debts car
be created with such facility, we have no SCOUT
" Tor our liberties. | must think that my lrienc
Howard has made as great mistake IN embra
eng this Off'pring of Federalism as Don Qux
ote did on the night after his beIaborng in the
valley of Pack. Stapes, by the fanguesians: anC
Dons amorous embrace of the .Ias riaa ieench
H lMari,ornes) was no greater deusion than the
under which my friend H. abors at this time:
would further add that my friend II. had bette
be careful, or he may excite the jealousy OF Mr.
prsniss, who has priority of claim IN this matter
and possibly he may prove to be the "hones
canIsTN
Upon the passage of Mr. Yerger's resolutions
declaring the state to be illegally and morally
bound 10 pay these bonds, an argument much re
lied upon was, the action of tho legislature upo
The subject; and the majority were determined
add strengte to that argument by driving anothe
na, in the passage OF them; not content with on
set Of resolutions, but they must pass secon
series, declaring that if the Union Bank laed I
make provision for the payment oil 'hese bond'
and the interest," as they fell due, thai me Stat
would do so. then said as now say thai mes
resolutions we're such as the Legislature have n
more right to pass, than the same number Of N
dyiduas assembled at any other place, Tor an
other purpose; and that those resolutions have n
more effect 10 binding the people to Pay thos
toAds, Than if they were passed by toe "Jocke
Club Of Columbus" Indeed 1t would seem troT
be action Of The legislature, during the last slttn
that the only object in acting sPon this subjec
waste ;oI.o tbe state and exonerate the stock