Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1842-04-09
LIBERTY, NIIssP) SATURDAY, APRIL 8, 1874.

destroy our peace at home. They would
raise new question Of discord, and pro.
tract, beyond the reach of human 81 ht,
the Intestine troubles OF community al
ready agitated, perpIexed and distressed
And for doing all this, popularity is their
price. They sell themselves 10 work
wckeiness for this reward.
There are some, nay many, who seem
to forget how popular the Union Bank
was when it first went into operation, and
how it was relied on to restore the cur
rency and relieve the country, which it
would have done with proper manage
ment 1t is for ''their connection with
said institutions" then Of general popu.
arlty and high promise, that the indiyid.
ual subscribers for stock, whether male
or female, are now hunted up as beasts of
! prey, by the Identical Governor who Off.
cloly sanctioned this institution, and by
a majority of the present House of Rep
reseniatlves that obsequiousIy "foIlow in
his footsteps"
The subscribers were at no little pains
and expenseto prepare their land papers
in such way as was required TO entitle
them to stock. And what have they re
ceived for this? Not cents worth of
any thing. II some few of them borrow
ed money of the Bank, they obtained il
only on the same terms that many others
did, who would not further the views of
the government by subscribing for stock.
Among this description of borrowers.
there are those who, failing TO pay, have
greatly contributed TO break the insttu.
ton. And no doubt some OF these might
be found, concurring with the House Of
Representatives, in urging harrassing
suits against the subscribers, who have
never yet borrowed a single dollar.
Ii the stock Of the Union Bank had
been acknowledged, on all hands, TO be
long exclusively to the individual sub,
scrbers; and if the affairs of the institu-
ton had been conducted by agents of
their own appointment, there would have
been no denial of their liability. But
seeing THAI the whole of the stock was
claimed by the Governor as the property
OF the state. and generally considered
and called the State stock; and seeing
also, that the commissioners who wasted
the stock were all appointed by the Lee
gsIature, and that the individual subscri
berS did not, and could not, exercise, eli. |
Their directly or indirectly, any control
Whatever over the proceedings, until the
institution was lrrctrievably ruined, moth
ing could be more unjust than TO hold
Them responsible for the loss sustained,
or the debts contracted by the institution.
Even If, under all these circumstances.
they we've legally liable, it would be hard
to oppression, to hold them responsible
1t would be against all good feeling,
against every equitable principle against
inc pristine purpose, the essential object
Of organized communities, which is to
promote the common good, by sharing as
well the burthens as the blessings of so
,lal life. And that community is far
gone on lis retrogade course towards
Darbarlsm, which, suppressing the die.
.ates OF reason, and the charities of the
leari, can see no justice but in the rigo.
rous exacton OF legal advantage, and no Z
'lsht but in the arbitrary exercise Of [
overwhelming numerical power. This i
sentiment finds an illustration in the case ,
under consideration As before sugges.
ca, the Union Bank was designed and in a
'll!uled with view to the general rood. Il
was measure in which the country p
concurred, with cordial appro> a
~
'atIon, and with high hopes ofits sautary C
influence on our embarrassed pecuniary a
IliaIrs. But instead Of blessing, il has D
y bad management, proved curse 1t 81
las been already stated, that this bad r
management was on the part Of the agents v
i the government. The government is II
esponslblc for the acls Of its agents, and a
ne people are liable Cor the i'll success of |,
helr government. A great pablo debt tc
as resulted, from laudable legislative 7
horts to procure a great public good.
Ionor, justice and policy require il to be
AID. Shall then the burthen oil payment d
all on the whole people, with a view 10 G
hose benefit the debt was contracted2 Il
on small proportion of them, merely d
scause they trusted the government a
lth their names, which others would Il
q! # the latter alternative DO prefer
"a, the judgment is The reverse of the 4
wine principle, "According to your faith H. +,
It unto you" The principle Of ex- ~
oyernor McNutt and the present House y, ~
Representatives is, in the case il ques. H.,
IN, according 10 youriaith be il against IN
'uilhat IS to say, suffer all that law can mr.
possibility inAict, for the confidence = r.
Du have reposed in the wisdom, fidelity ~
ID equity of your government, 10
30 mach os TO the moral question, The N,
CIV OF the legal question will be brief h..
ne following extract relating 10 il is ali
zen from the first page Of the form OF cv
mortgages executed by the subscr>
rs TO the Ilnion Rank