Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-03-03
Mr.. R. S. GRAVES OF cHoCTAW.


The Mississippian of February 18th con-
tains speech, made by this gentleman in the
Legislature, relative to the State Bonds. As
Mr. Graves only repeated what is in the mouth
of every man, who thinks to court popular IA
your by attacking the credit Of Mississippi, we
shall here notice such of his positions as we
deem worthy oft. We must premise, how
ever, that the whole Of Mr. Graves speech ap.
pears to be founded on gratuitous supposition
of a fact, which fact does net exist, viz: that
of a bill being before the Legislature, to pro-
vide for paying the State bonds, by taxing the
people. Now, if any such bill has been before
the Legislature, it is something new to U.S.
he'resOlutions, on the passage ofwhich this
mighty effort Of genius was made, simply de-
clare that the bonds of the State shall be paid,
and, that to intimate that they viii not, is a
calumny upon the State. They make no pro.
visions for paying, nor do they point to any
mode of raising the means by which to pay
these bonds.
The Commissioners, says Mr. @. violated
their instructions, therefore, the State is not
bound for the bonds.
Unfortunately for this conclusion of Mr. G.,
the State received the money for which these
bonds sold, thereby, ratifying the contract. and
becoming bound. If an agent violates his in
structions, his principal will not be bound by
his acts, but if the principal afterwards rati-
fies his acts, then does he becomes bound
Thus if an agent is employed to borrow money
on certain conditions, and violates those con-
ditions; his principal is at liberty to refuse to
receive the money but if he does receive the
money, Gas Miss. did, he ratifes the contract
and becomes bound.
If the commissioners instead of getting bills
of Exchange on New Orleans, had'' Ito use
Mr. Graves elegant language) "gone to Ken
lucky and sold the bonds for hogs and horses, +"
and the State had received those " hogs and
horses" it would have been bound to pay the
bonds. We ask every man who possesses one
spark of common honesty, if the State can, IN
common decency, refuse, upon mere legal
bubble, to pay the bonds, when she has re-
ceived the proceeds of the sale thereof, and ap-
piled them to her oton use; in paying for hel
stock in the Union Bank ofMiss. As for tao.
ing the people to pay the bonds, MIR Graves
need not trouble himself on that score; for we
feel no doubt that the Banks, if properly man.
aged, will be able themselves to pay them
For information on this head, see letter from
Gov. Runnels which we published two weeks
since.
"Al contracts, binding must be made by
parties, the United States Bank, was not com.
petent to contract, because there was an ex.
press provision in its charter prohibiting it from
purchasing stock, either directly or indirectly
The contract, then, was imperfect, and illegalI
and the United States Bank could not have
been compelled, by the laws of the land, to
carry out the contract as made by the commits
sioners %
So Mr. Graves thinks, that he can 60 to an
infant, or an odiot; and borrow from him
$1,000, dollars give his note for the same
and thon refuse TO pay that note; why! because
the idiot or infant is not competent to contract!
If this is Mr. Graves knowledge of law, the
good people of Choctaw had better trust their
cases to some other attorney. Here MIR
Graves looses sight of the distinction between
a contract not ereclaed, contract to do some
act i'm future, and contract erecuted by one
or both of the parties. The doctrine which
Mr. Graves is aiming at and which he has mis-
applied, is this: if contract, to do something
in future, is made between two individuals
one ofwhom is not competent to contract, the
other may on that ground, avoid the contract,
Now admitting this doctrine to this extent.
(and tits the ntmosttI which it can be asserted)
it has no reference to the case in question.
If the State had made contract with { the
Bank, that in consideration, that it, (the
Bank,) would in future do certain act (the
State) would do certain other act: and the
State had refused to perform her portion of the
agreement, because the Bank is incompetent
to contract, then would be the doctriue of law
set up by MIR Graves as defence come in
question. IF the State had said to the Bank,
''f you will on the LIST of May 1899, loan us
the sum of $5,0O0,O0O, we win pay you five
per cent. on that amount;" the Bank had &C
copied the proposition, and it had been ratlf.
ed as one, from them might it have been com.
petent for the state, when the time arrived to
refuse to comply. 1t might have said to the
Bank, ''you made acontract which you b ad
no authority to make, we could not have coer.
ced you to performance therefore, is the con-
tract void" This is giving to Mr. Graves the
the full benefit of his doctrine, and it is cues
tionable whether we have not conceded more
than the law win justify us in doing.
But here is no contract to be executed, but a
contract executed. We have borrowed the mo-
ney and now, for us to refuse to paw it back
because they had no right to lend would in
deed be something new under the Sun.
LOuIsIANA.-The'House of Representatives
ofthis las passed resolution, instruc-
ting the hbers in Congress to use their
exertions to procure the passage ola law, re-
curing q years residence in the United States
to entitle foreigner to naturalization.
---
HE PREsIDEHT ELECT. We learn from the
Correspondent of tae Charleston Courier that
the Prest. Elect, visited the President on the
10th Feb. and was received with great kind
ness This is as It should be.