Lexington union. (Lexington, Miss.) 1838-18??, 1841-02-20


ages.
~. An alfirmance Of five millions Of
State Bonds, executed and delivered 10 The
managers Of The Mississippi Onion Bank.
10 1888, and sold by the commissioners Of
that institution in August, Of that YEAR
The 4Ih article Of the constitution provides
that " the House of REPRESENTATIVES shall
have The sole power of impeaching. All
lmpeachments shall be tried by the Senate
when setting for that purpose. The sena.
tors shall be upon oath or atIirmaion--no
persons shall be convicted without The oc.
currente Of two thirds Of tho members
present. The Governor and ali civil az;
GERS shall he liable to impeachmen, for
any mlsde-meanor ia oflie." III YOU be-
''eve mat have been guilty Of a misde.
meanor ~ office, your o1ihs require YOU to
prefer articles Of impeachment against me.
! am ready to answer and will not shrink
rom me severest scrutiny. With all prop,
er respect, denyto either branch Of the
legislature or both ,ofthem to try or cen.
sure me by resolution. The presen,a,ior
o. the resolutions under consideration al
'ords me M opportunity Of reviewing nv
whole course In relation 10 the Mississinni
onion Bank, and the State Bonds. and Of
pacing my defence on The same record
with your charges. The consti,p,,nn
adopted by the people Of The State in the
year 1919, places 10 restriction on the Ie.
uI.l.
s's'a.ufe 10 regard to pledgiog the faith Of
The State. The act chariering Tie plan.
ters' Bank, passed February l0ih. 1880
and provided for the Issuance of2 millions
OF State Bonds, bat placed no restrictions
N regard TO their sale, except that specie
should be exaced m payment. The neo.
pie again assembled in convention. in The
year 1882. The sages Of lha, convention
'ofesaw the danger of trusting 10 one lie
glslature, the power Of p!tdging their f,irb
Tor the payment Of money, and wisely in
serted HE following provision in The revised
constitution. No law shall ever be mass
cd TO raise loan of money upon the credit
q The State, or to pledge the faith of the
state Tor the payment or REDEMPTION of
any loan or debt, unless sach law be pr,.
posed In the Senate or House Of Repre.
scntailves, and be agreed to by a majority
OF the members OF each house, and entered
on their j'urunls, with the vens and NAYS
taken thereon, and be referred 10 The nov,
succeeding Legislature, and published f,r
three moEts previous 10 the next rao,d,,
elec'ion, 10 three newspapers of this State.
and unless majority Of each branch
Of the legislature so elected, after sucb
publication, shall agree t., and mss socb
law; and il such case, the yeas and nsvs
shall be taken and entered on the journals
of each House. Provided, That no,hnc
in this section shall be 80 construed ma n
prevent the legislature from nepo,ia,po
a further loan of one and a half million Of
dollars, and vesiug The same in stock re-
served to the State hy the charter of the
Planters Bank of the State Of Mississ,p>
pi." We are mainly indebted for This
provision to the untiripg perseyer.
snce aud distinguished abilities Of gan
tlcmnn not now in your Councils who.
altho' twice unsuccessful, vet still persisted
aud succeeded, on the third trial. in en-
grating the glorious saciion on our flnda.
mental law. This act alone will enroll
his name among the henefac,ors Of hi-
adopted Slate, and secure the lasting graft
iude Of his country. But for his exert,ons
in that correction, the faith of this Stale
would long since hive been pledged Cor
thirty or forty millions Of dollars. The
money borrowed would hav. been squan-
hered, and the energies and industry OF
the productive portion Of our people for.
ever FRUSTRATED.
The Charter Of the Union Bank was
first recommended to the consideration Of
The legislature in Januarv 1886. Tha,
session closed without passing any laws
National politics mainly controlled the
general election 10 November 1885. /
was then, for the first time, elected 10 the
was pledged 10 oppose, in al
cases, the pledge Of the fail, Of The STATE,
for banking purposes. Al the January
session, 1886, the bill char'ering the Mis-
'lssippi Union Bank passed the House of
1t there met with but
iiile opposition; whenit came 10 the Sen.
1te, the principles and the tendencies Of
The bill were thoroughly discussed. The
opponents Of the measure succeeded in
getting il postponed until the adpnrned
session in January 1887. 1t was then
'alied up, discussed, and passed by
neagre majority, The bill was entered
ipon your journals. and referred to the
PEOPLE mt the succeeding general cleo
ion. The phraseology of,he Constitution
ioes not seem 10 contemplate second np-
'rovaI by the executive. In the canvass
i 1887, national polill,cs again exercised
controlling influence the prin,iples off