The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1841-08-14

yislaGure. No part q nc Sstr
e. required the aetica or passage - -
legislatures, exceps that ~hich Psegrsel
= ,la9ve he faith aai credit Ok iec
STATE. consequently the ssoeAns'i-asss
we're as fully and completely iacos 49,
ted as such at the sirss passage q ne ssss-
c;,sl charter a. apon a. secozad e-aas-' -
Then. ifone Legislature eaa ta7asssss.ss
a hank. and the Stale eeeoase = -, %
.er in a bank, cannot The SANE Pe@sE
which can incorporate Psisase P~Fs>si $
constitute the State stocS 1ci4rrs ~
suredlv il can. Keep in mad ~ Pc
visions OF the 9th sectios o. ~ afts-
Gle of the Constitution IL tiers go
word or phrase which b-eaiAes he a--a-
that IN order 70 ineorporais - a,aNs i.se
State stock holder - eaaz, tAat ~
charter or act o. incorporates sAoa-1 -
"a ssed bv two legislative boiiesf 4 ~
9th section OF the 7th article of re tssa-
s,i,u,ion only refers . The rssls an asaa-
ner bv which the faith aes cr~stsi ~ -
State shall be pledged Thea she tar-sF-
poratton ofthe State a 4 Ssock aoa-er sa
the Union Bsnk fell wilma tne cesnf q
and ordinary range OF lcgisiatsaas al
as such oalv rcea5re4 tAe assi2a 81 Gee
I Legislature AID the approval - iAe IA
ecutiye, 10 give the a. e. ssFF .eszs- 81
force aud validity. The saPp.eaaaatal
charter, creating the S-ase as,e-kAo 1er,
could b no possible rneaas eal2rge ~
increase the faith Of the Safe. alre22y
olighted. under the provisions oa he Orr
ginal act Of incorporation Aae s-u tee
which the State has pledge her ta5ta -
precisely the same. b. s. ~-iil b. asF-
ceived that the liability Of tae Sac a.
stockholder IN The baak. Is entiseAw tss-
tinct from her liability uPoa her 1ran3s.
I is q State Or Ss-srsi-srsi, sc 7trasrl hsr
faith All CREDIT. Is sAs-kA l<s-. shs
I assumed a Her an 81 sssE4fisl l,z5,si-s
not rs 4 Stale or sorsrsis stg- bag as 4
mere iRdirldRzf-G c2l1eg clstsss- s1r
I IL 4 State becomes \ partner "a q Rad .a 2
company, or n stock ho,dcF la hnnk, sac
dlvests herself So isr As eoaceras tha.
company or baRk. 81 her s1Vess1gn cha
rac;er This is 4 soand aa3 Ne.l So .ss.
principle running thr0usa az tAc al,ha-
rites Thea Il The Ssase Flcs-e4 azs
laith-her Sorsreigs fzisl. sA- "a 4 &
her SorerefgE AID surerwzlenszf aass.e 81
character; as a s,ockhosAer Ia = prlxaee
corporation. she eogid cat rseGss A.
j faith. her soucreigK failRs taesefare. Der
\ liability foaaded upOa shat p-es 80. Is CA
tirely different from her iah.i5tv a. sees-z-
holder. As q stockho'3er. Sc aess Is p
pTirGfs eifi-sa oapacifs--.a rled-lag iAe
faith and creji, Of lhe Ssa,e. sh- AS e
her soreTsigE eEpacsfg Thca Il hc.
character as s;ockhoi9er = dsstlacs fro-a
her character rs safe or savere safx
4 End she eo0li oaly pledge her lasa
Ia. the latter charaelsr- Ehas eaa.
seoue-,ss Inevitably iollo4s. fhaE ~.
supplemental charter making Aer 3 s.o-k
/ holder does 40, change 81 ia anx~tss a.
ter or affect her sovereign llas.lEy. al
therefore i constItat,.s7at
There are ether ob,ecsso1s va.--l 1zrs
hen urged against ghe cous-a, 's,t@1as s
Ofthe supplemental charter o. ~ EAak.
which In nv esEiugati1a nee1 not ~ .-s-
and refu;et. Like thcss airs s2v 49,
eed, they are eaiirety grcan4.sss aaf
without the sha1ox o .o1za-alisa u a.
or reaScl- Ell here rsx-arS. thax ss-ne
OF the views here emAsIied kave beea
! advanced IN ether papers. whs,-h w-e-s
lpenned iy me a. intervals q Eefs1rs.. All
published u the Souihroa. Havsnw -
posed OF iae question iaEolv5ag rae Iestl-
Isy o. the execution o. the Aca3s. { sha Is
PrOceed.to examine <ae conneaa-a.s Ia
OF His Exeellency, a3lresse5 - W-ssrs
Hope & Co. Of Amsterdam
While | regard that dccamsas ss sr-
entirely uncalIsd Ter, ard g Al extrasr-
binary character, 4 shall treat L Wlsh AZ
proper resPec.. eouing IS = dces frsm
the chief magistrate q The ST.. als
argument IS based apoa she Supposed rs
legal sale ofthe 5oads- tie ailegeS .Aas
they were negotiated ant sod a. lsss shaa
their par value, Il xicsatsoa o TIE ear
ter OF the bank- Tbs alsesaSoa = are
|emptoriiy denied What are - - a.
derstand 10 - the m.aniEg &c tie pArase
+. par rGlHs2'' |; i thar value whseh :
/ equal 10 the intrinsic value cr worth Il
the bonds What Is thar insriass- valss
/ The bonds were executed for he sura 81
i five millions CT dollars n ~ -.rr~-,
money Of the United States Te=a "a.
amount Ia the current Es0nev - sAe
United Safes Is the par value q ~ Asa.ss
that which the boads parpors l. -
worth upon their face Were thev thea
sold Tor their par valuef How are 80
10 ascertain that facsl From tAe te-.s
OF The contract OF sale We muSs 49,
an eye 10 the time they were sold. -
II they were soil for sam ssaal = I've
millions, their real value a. ta= ause tse
contract OF sale vas entered iaso Al
consummated BY the delivery q -
bonds to the purchaser, thea thev were