Columbus Democrat., 1841-09-18
Vol s No. IL

appropriate the meney uhen raised to the paYmsne
Of an uncon .,iiuronal debt. In tie fou Ih pl'es,
It the Legislature dad suhoTise the receipt OF Ihe
money aud d,d appropriate Il, they had no power
either to receive o. appropriate, and could eonier
none: and H a,suTtdy would be uBhsard oil oP-
ptession to make the innocent many suher ior ne
stus /, t the guilty few Who were seing clearly
Without the pule Of lheu authority. 10 ;he hiih
place, II The bouds were con-'ttuuonally Issuedi
and If the agents ~ere duly authorised to act: ihs
fraud which charlottesville sale, The palpabe Vi
olatttn OF the charter in selling Ihe bonds below
lhsir par value, aud 10 making The principal and
lnielrs payable N pounds sterling Al Ihs rate OF
four shilling and SIX ence 10 lhe dollar instead ct
curr ul money ofthe Unded States, by Nhlcba
l,,- Of more lhau one million Of dollars - sus
tanned by the State, all OF wh ch Is more clearly
aud spec.dcIIl set forth IA the la Q able cnftes-
pordrn,e Of our Executive with tae Trustees OF
the Uu,tcd. States Bank, would be smPiy'suti'
clrul to lusi,fv the ale IN refusing The payment
Of these bonds.
Legislature Of Georgia onre disposed OF the
largest aud best potion Of our state TO lew as
venlurous spectators; yeta succeeding 'eeslA-
lure, solely on The ground OF fraud, not only set
ASIDE the contract, but actually drew hTe from
heaven aud burnt up the journals aud every eV,'
d,nce oi the contract ~lhIn their reach. ana
the unbn. s,d Judgment ol 40 impartial world has
ever JUS fled the act. Bul | do not grant the as
SUMPTION thai the stnie has received the money
for which The bonds we're sold. Nois single
dollar has over been received into The Treasury
! Of the State. Not dollar has been appIoPI'a'ed
| by the Legislature, since the sale oi the e"hos'
Tor the use oi the people, or for governmental
| purpose, Nor has thaLbody in any way Or man.
ter whatever, controlled Or used THIS money.
Butu IL ru thsr sa,d it's too ls'" to ra'se THIS
question. The Leg slalule ol 1888 au'herseo
the issuance Of these bends, aud the Leg'sis'ufs
of s39 justified and confirmed the sale OF meHi
and The cay Is now too far spent Tor Us 10 IA'Se
up and cal IN question their payment lM'R
deception, bas,d upon az enunrsus statement
The Legislature of 1885 did pass the supplement
nnd hereby made the STATE subscriber iaf stoch
IN the Umon Bank, and atelnptd to render hsi
primarily liable lor the five millions oi dollars io'
which the lauh Of the State SIS supposed 10 be
pledged; which the Legislature clearly had no
power 10 do without the sspcuon oi the people
but the same men who had the hardhood to tram
pl. ON the constitution ia 1898, had also The pre-
SUMPTION. at sn adjourned SESSION ~ 1889, beng
HE same IDENTICAL Legislature, I" sa"eno, "r
sale Of tn. bonds hy The commandments when VI.
ola,ed tho charter oil the Bank, the woTkman'hf
of their own hands.
II The reasoning above be correct II BmOun's 'o
lhls # nan commit wrong once II - S''me
f be commit wfong tWlee, Is 1t a vn'ue' u '
Legislature assume power once, u oPpresslo"
, # the same body Afterwards recognize thai rs
SUMPTION IT'S patriotism. More the leR'slniura
, Of 1888, when they attempted TO raise inc n''
! mllaan- Of dollars TO take stock IN the Union
Bank, made such disposition OF II as to pIaco
It beyond the reach OF all the subsequent reP'e
~cntaflvcs Of the people; 80 that a succeeo'hR
Legislature had not the power, II ihey haa "a"
he viii, To return the money which had b'eh VI
constrtutiahay obtsmed. And The peopl" cona
never effectively acl or vote on the queslIOn,tll'neJ
were called upon to pay either me p'hc'Pa' 9.
interest oil these boads
| Duyen from this p0sltlhn that 1t IS too lale' u
/. lhen said 1t IS too soon TO raise lhc question
But # We owe the principal, We owe the interest
and AZ there are very few so dead 10 state, as u
acknowledge our insolvency, our inability to pay
# IS our duiy TO save The Stale from dIshonrr
The Mu Legislature knew our situations; ar
while they PROMISED very boas'lngly, they move
"
honor Om State - now under protest, al.
ferylore commercmlIy dlshonortd. II ! al
rgltly informed tho State during tins yea
wlII be protested for more than ZiO'Ouo d"is
ON account of the Union Bank. In" interest oi
the next year will be 25OU dollars. And II Is n.
reasonable 10 suppose the bank VIII iealize soui
funds N sufficient amount To pay any the sHiH
lest portion OF that deficit Her COLLECTIONS o
! we all know will be almost exclusEey III he
own foles, DUNG lhIs ard he next Year, "hIf
= will not answer to pay even her own "fiie'rs, l'
the bond payets succeed, surely they "'ll not ~
low the Stat, to remain under p,o,'sI, d'shonorea
bit. like lnderendeul men, they viii have III
nIsuIness to nlotulhe people now much ne
owe, aud how much must be paid forthwith. Un.
der such policy, our prestnl taxation oe'ng u
! quu,d Tor domestic an uuqutsiionaoie c~lns
,he sum Of five hundred thousand dollars ough.
10 be r.lsed from the peop Dung the next yea.
! So We cannot longer avoid this question, u, "
! would, We ou- h not, II We could.
Hence am forced to the conclusion, that It Is
due to the Consututun, Il IS due TO our anceS'eT7
II Is due to ourselves, II IS due to po'tefiy II +
due to the cau.e OF constitutional l0etv ever
were, ana Il viii c. nst lul- our true dignity ar
highest honor Us people, tc refuse TO r'cognlzs
ih. unhalored clam Considering these Pos
ton 10 be 50 clear, it might seem strange. ma ID
man OF tie acknowledged talents OF MI. Biddf,
ting as he 10 doubt was, for The United S'sita
Bank, and IN vlolat n Of her charter. should b.
Wiling to purchase the bonds, with the Palpnt
dtfecs. But, IN my esumanou, there Is no dla
cui,v.In his matter. The late development Of
that bank aud NJ B,ddle's late series O! leisys
m hl. own dettuc,, concIusnely show hlm to Be
a couup, mene> changer T. consIde'ed 1t in
his pow er. al hat nme to mske'nn advanlageous
arrangement with the bond; and possesstd VII
a large amount OF Southwestern funds whlca
we're huctuana and unstable lD value, he ~s'
enabled to make the payments 10 the Union Ban