Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1843-10-28

% ed for them TO remedy the evil which
&c they Ind brought upon the institution
y that was TO declare the stock as quick a
10 possible, and sell ten million five hundre,
thousand dollars more OF the bonds, am
" apply the proceeds to the redemption o
: the notes Of The Bank, which had been so
= Imprudently and lavishly issued. Had
2 the directors succeeded in this plan they
would have sustained the credit OF the IN
sltution aud raised the money to Er
value and though there would have been
a considerable loss from mprudent loans,
Q the Bank, in the course OF time, won j
g have recovered and become what she was
I intended to be, Ga relief 10 The country
!, But this plan did not suit the base and
sordid views of McNutt, whose own aspi-
frallons were OF far greater Importance in
ms mind than the welfare of the people
over whose destlnies he under an evil star,
was called TO preside. He felt his degra
ded condition, and saw that by brutal dis
sIpation he was sinking into oblivion and
becoming ioathsome 10 the decent men of
all parties, and some despe rate humbug
must be reSored to in order TO avert the |
coming storm. Then for the frs, time.
he discovered that the Union Bank was
unconstitutional, aud that the bonds were
sold below par value. He sought a most
propItlous time for the operation of his
Infamous schemes; n time when the pub.
lie credit Of the whole country was pros
traled: time when Banks in every State
were looked upon with doubt and preiu-
dice. He knew that all the Banks in
Mississippi were embarrassed, and the
Union Bank had not met the expectation
OF those who were induced 10 believe she
would relieve them from embarrassment, a
and he resolved to build up for himself i
false popularity upon her ruins J
lie found wiling supporters of his /;
schemes in the persons of small dema- e.
gogucs who could never como into no. +,
tice by honest means, and few vena "
presses whose editors were disappointed II
IN their hopes of plumber, by being APP u
pointed Bank officers, and by appealing to T
the worst passions ola people oppressed n
and almost crushed by debt, he succeeded -
IN raislug formidable opposition to law II
and order. :,
>HoCA thCoS SliGulllStuuCtSs lnlS IuU QIIc(
nlqulty arrogated 10 himself the right to "
decide for whole State and dared 10 pros B
ltute the trust confided to him by the peo- OF
,le, by writing 10 the 3oIders Of the bonds S
hat the people OF Mississippi repudated "
heir Justly contracted debts. Here was n
high handed assumption of power which #
he Governor OF a sovereign State never o
lelOFp IN rad IN a ssur,o d. :. -. -
master stroke of impudence to give i'm. m
'orlance TO the villanous plans which W
we're about to be practlced; and after the E
'ali had been thrown 20 the Bank debt. l.
RS by which they hoped TO escape their al
liabilities in a general destruction of The Ibe
institutions which they themselves had VI
realed, 1t became necessary to raise III g of
ow! of taxation, in order 10 enlist the IJo
5norant and unsuspecting portion of the A.
eople, and give semblance ordisinter- ].
sickness 10 the vile schemes. J.
The general distress which pervaded mi
very section of the State at that time, w
al tendency 10 foster those doctrines ",
men IA times of prosperity wouli have
zen secuted at, and their advocates bran. ate
ID with inlnmy. But misery, which is ipI
5peralIy the stepping stone to vice, as
emed 10 blind the people and induce the
cm to lend willing ear TO the willy speech tur
oi demagogues whose unholy object was Hut
under and promotion to power, and so the
eat was the alurement of the hope of Mr.
IN that many, very many, whose NOR Hill
sense OF honesty caused them to shud- live
r IN pubic at the enortmIty Of the crimes pag
out TO be perpetrated, would secretly
p TO the ballot box and record their the
les IN favor oil measures which they Uni
d not the hardIhood to avow openly for
ch is the origin Of reputation in this mig
ste, and now lei us notice its effects curl
d progress. BAN
Though McNutt may claim the dis emu
ice OF being the founder Of Reputation, and
at has he gained by il? 1t is true the payl
3 humbug succeeded for two years, bond
met support and sanction which done
honesty never before received in any tie p
lntry, and which will forever stand re. ever
ded TO the shame Of Mississippi. But Tors
at has been the fate Of its champion ton
as ever the reward Of crime more for or "
y illustrated than in the fate OF thislit, by
NJ What is he now9 A living mon pone
ent of Mississippi's disgrace! A poor situt
'cted, broken down demagogue, point pone
II by the finger of scorn, and scoffed Mess
y the political vuliures, who for two Hugh
RS licked the dust from his feet and Their
yed upon the spells Of his faithless voted
Illustration. Abandoned by those Thor
I'M ne forced into notice; denounced VAN
dlsowned by his party, he stands in See
wreck Of his own infan1y, a. Icsth. 'Jo1rn