Lexington union., 1841-08-28

STATE may be pledged--ye, ndmi,,io. u we
clause to be rightly observed, i, mus, y ~. ,a,'
ta'nIy be so construed as M, : ,e''
my o'her clauses. For the cou,,;,n,;a'
s 'O"S' be taken as whole, aud we NAV :.
well disregard one par, as another. ~, y,
Il one clause of the constitution be v;,'' |
ted it would be nothing short of h,.'" "''
to argue as a justification, that oDohD'
clause had been complied with, Tta.'
called on the people to consider won =.
primary principles Of our Gov.r,,,o, ''
That when our ancestors broke ,hop,
'sh y"k'' and established our preseO, Co,n,
OF Government, they Sc, up a v,i,,."
and transferred The sovo,o;
ty from the law makers 10 The Doonla
The acts ofparliament are truly the ,c,.
"' the British Government. Ba, no, 90
here. The acts Of tho Leo;.lo,u- -
only the acts OF the State, when in s,,;c,
accordance with the cons,imio, ,.s
every act in violation oflhis ios,,Or..,
IS void; g. we have SO declared to all man,
N'nd, that they may be on their guard IN
ealing or iraiIicking with our servants q,
1gen,s. They then read thai, CLAUSE of
he constitution which authorizes ,bo
'Iedging Of the Safes faith, and moda
'ome remarks upon its peculari,y-nd
ne power to pass laws was given 10 lbe
Legislature, except law pledgirg 'hs
ttith Of the state. Such a law not ool,
requires the action Of two Legislatures
but a good deal Of foImaliry,tesGes, all Of
which must be strictly complied with, 10
make the law constitutional. Ammr
other things it requires that such law
hall be referred to the people-hn
they may examine-and consider
we'll the character, object, and probable
consequences OF such law. They then
held up the charter of the Union Bank as
a compact proposed by the Legislature Of
1887 between the Union Bank and her
stockholders on one part and the state or
neope on the other. This law, charter,
or co;npac, was referred to the people, Sbo
siGnified their assent by electlng repre-.
TO take the constitution in their
nnrkei: and the law, chariar, or cnmpart
in the other, and negotiate between The
oar'ies according to the stipu'atom con.
aimed iherein-firs. by repassng sadhT,
charter or cOmpact-and secondly, pc'
pose the matter to the STOCKHOLDERS by
opening books Of subscription ior slOcE.
And if The Stockholders signied their %'
sent by complying with the rrqrl'iIOns0I
he law. charter or compact; that I' BY
paving in ten per cent on the am'nDi oI
stock, and securing it well, by giving
to the satisfaction oil the cIr'c'
ory; then, and not I'LL then, was the 6o
,ernnr 10 execute bonds pledging The hIn
# the state as security, and not as pnoc'
,a. In proof Of which, they read several
.huses from the law. charter OF crrP'c''
they then held up the form oI the O0pa
o the people; and showed that II was O'
hing bit a blank form, preserving wv
node in which the bonds should be e%cr
ed to the Union Bank, whenever !"
tockhoIdcrs should signify their asse"@
with the acquisitions oi 'h'"'
barter, OF compact-whlch II D" ""
y the first Of January, 1889, the cD'''
vas TO be deemed and taken as null '1
old. Ba, in 1898 The Legislature P'''''
~ ac, which they called a snppIF"'"
he Union Bank charter IN "ncn
equircd the Goyernor TO suOsr''O.
ee millions OF stock on behsI' u '"
tate, in persuance Of which he sS'''
onds 10 tha, amount, after the la'n'O"
lode prescribed il the original cOa'''
Ind without referring it TO the PeO'|
le constitution expressly requires ~"
ent off agents and sold them 90 '"' n. r
iduaI responsibility of the Sla'e' ~
Nv was passed 10 champaign '"L, .,l
n both houses had deliberately 'e'',
trough an investigating comm'''''
ley had no right or power to pass 'u'
" and make il consIItu'lona' W."
: :. a.. 49, ,o~,Io IA 10 tne s"r