Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1841-08-28
AND CARROLL, CHOCTAW AND TALLAHA

Bank into speedy operation, and as having
Sanctioned" the violation Of the charter. In
the strongest point ofsview, it could be re-
garded only as an admonition to the commits
sioners who sold the bonds, and the directors
who approved the sale, TO be more regardful
Of the law in future; and they must have had
little taste for court favor, if they did not find
more to hope from the commentator, than to
fear from the censure of your Highness.--
That your Excellenza, in this passage, did not
mean to protest against the sale of the bonds
as illegal, and conveying no right to the pur-
chaser to demand their payment of the State,
we will adduce other and still more conclusive
evidence than an exposition of phraseology,
which we admit is not remarkable for clear
ness and conspicuity. We will quote from
your message of 1910. after you had time
thoroughly to investigate this subject, and to
present the result in lucid language. In ad-
vocating the right of the Legislature to inspect
the affairs of the Bank, among the arguments
employed by you, you urge that "The faith
of the State is pledged for the ,chole capital
stock, and the property of all her citizens may
hereafter be taxed to make up its LOSSES and
defalcations." Having thus, not only by your
silence, but in express language, recognized
the validity of the bonds, and the right of the
holders to demand their payment of the State,
how far it became you, of all men, to usurp the
province of your Legislature, and pronounce
that "the State never will pay the five millions
OF State bonds issued in June, 1888, or any
portion of the interest due or to become due
thereon" we submit as question of taste,
merely, to be decided by those whose sufra-
ges have placed you in the high position which
you now occupy. We would have expected
that it would have been sufficiently unpleas-
ant to you, sir, to act as the organ Of the State
in making the only communication which the
facts warrented, that "no provision had been
made by the legislative department for the pay
ment Of the interest" We would even ven-
ture to ask, sir. how you dare to assert that
Mississippi will not redeem her pledged faithl
for.we perceive from copy of the Gazette Of
iState, entitled 1.-The MississiPpian,s forward
Ted to us by our New York correspondent, that
you have had the temerity to publish our cor
respondence. We hope you will do us the
justice to order this TO be published in the
same paper. We are apprized by this same
veto message of yours, that in your elevated
Office, your partizan feelings preponderate
over every other consideration. From other
sources we have learned that the party with
which you have heretofore acted, having sus-
tanned signal defeat last fall, were resuscita'
ted by some village editor, TO whom even you
sir, play subordinate part, and who is, in
fact, the dictator of "the party" by starting
the question of the validity of the bonds. Or
this we understand, the pending elections are
likely to turn, to influence which, we presume
the argumentative part of your letter wa
written. 1t could have been with no view tc
an adjustment of the controversy, for you
have no authority to conclude any arrange
lment 1t could not have been as a manifest.
to the world, setting forth the grounds OIL
which Mississippi repudiated her debt, for she
has taken no such degrading step.
}, We will proceed to brief notice of you
) Excellenza's logic. SO far only as it bears Of
our rights as assignees, of the first purchasers
, promising, that to us it exhibits a sort of acu
men for which the juris consults of our mi
nor courts of Amsterdam are remarkable
: the practice in which is said to contract a
much as it sharpens the intellect. You predi
Gated your position that we, as assignees, ar
subject to any defence, which would hay
!, been made against the first purchasers. on
statute Of Mississippi, and the principle of le
loci. You appeal to our knowledge of com
9 mercial law to sustain you. You do not seer
: TO be aware that the ler mercdtoria is Of tw
y kinds municipal and international. The fol