Lexington union. (Lexington, Miss.) 1838-18??, 1841-09-04


pie, but for his own use and purpose. My
reply was, when the people called for my
opinions on any subject, they should be
forthcoming; but when intended Tor him,
for his use, they could never be had
Since then, | have been called out in
manner which required me to meet this
local question--l have done so. 1t is
surely an unfair test by which to try can
didates for Congress. My views have
not been formed with an eye to advances
meni, or even with the expectation that
they would be publicly called for. They
have been made up, if know my own
heart, impartlally; for my own satlsfac-
ton and guidance; with no intention TO
make them the standard OF my fitness or
unftuess for station; and if, in making
them public, aught is contributed to give
this bond question party cast, my skirts
are clear of the sin. ! wish it to be dis
tinctIy understood, that my opinion is, that
this question should be taken up, discussed
and decided upon its own merits.
In,errogatory lst: Do you believe the
Bonds sold by the Mississippi u. Bank
to Mr.. Nicholas Biddle, were issued in
CONFORMITY with the provisions Of the Con-
stituJion Of the State?
Ia answering this question no argument
is required; but a simple succiGct state
ment of the facts in the case will, in my
| ,cttc,a,inn hn soIistactOrV--
The Constitution provides that "No lar
shall ever be passed to raise a loan of mo-
ney upon the credit of the Stale, or to
pledge The faith Of the payment or redemp-
ton of any loan or debt, unless such lar
be proposed in the Senate or House Of
Representatives, and be agreed to by a
majority OF the members OF each House
and entered on their journals with the yeas
ard NAYS .aken thereon and be referred to
the next succeeding Legislature and pub
Iished for three months previous to The
next regular election in three newspapers
of this state: 4; unless a majority OF each
branch of the Legislature SO elected alter
such publication, shall agree to and pass
. such lar: aud in such case the yeas ant
4 nays shall be taken and entered en- TIT
journals of each House"
This wise provision OF our constitution
. is peculiar to our State; and amidst thu
general pecunary embarrassment whltI
= now presses heavily upon The energies o
several of our sister States, arising iron
II imprudent aud hasly legislation, and iron
II an unadvised pawning Of that brIghieS
u level of the state-her FArrH-toI tn
u purpose OF raising money to be ueed b.
n the few to the prejudice of the many,ev
cry AIississippian should feel grateful
e the trainers Of our constitution tor theI
: prudence and forecast in thus guarding gu
II honor and property by restraining lroi
r tampering with our faith or credit as
L. State, a legislature whose whole course
l. conduct has evidently proceeded from in
E" pulse rather than wise and deliberat
TO counsels. Bat it would be mockery
III constitutional governments TO say to the
IS agents, "lhus far shalt thou go, and r
or Mrther;' and yet quietly sanction ere1
ID intraction of rcSerDed rights.
~ A, the January session of 1887, II
G. Legislature of our State passed an a
rs entitled can Act to incorporate the SUI
oil scribers to the Mississippi Union Bank
e. in which you must mark the fact that
us provision is made that the State of Miss'
nd sippi shall be a subscriber for stock: Bt
r. on the contrary, section 4h OF the la
IT. saws that "the owners Of real estate stu
M ted in Mississippi, and VINO are CT
ne zens thereof, shall be the only persons e
'Pl t,led to subscribe" This law provid
Tor that the capital of the Bank shall be 81,
~ 500 ,OO0-that the books OF subscripu'
ay shall be kept open for SIX months, nnd
en- the inspection Of ten managers TO be en-
ON sen by the legislature-that so soon as d
10 thousand shares shall have been suoscrl
ed. the Governor Of the State shall appol
II thirteen directors TO serve for IL mont'
fY who shall take charge OF the Bank ana
IN hunks of subscription-thata after the boo
no are closed, the Bank may go into lmme
Will ate oDerallon whenever it shall appe
ex- that at least S500000 shall have be
is oaid iu--that those declared stockhold'
to % the directors shall pay into the ia
it The sum often dollars upon each and e.
cen ry share subscrbed-that the s,ockho
tic, ers shall give their bonds to the Bank
ond the amount of stock allowed to each,
WIN shall also execute mortgages upon
ged estate. with the privilege Of including {
ana fourth of the amount on slaves, 70 sec'
' n the payment of their stock bOnGs1-( 10
But not only the property mortgaged' but
IN whole estate Of the stockholder wo
my have been bound for the redemption 0,
pies stock) and, tina, both the principal ana
eral ,erest of the Bank Bonds were 70 be
anle L. d. ~, lknx saverallY Tell due