The Weekly register. (Ponola [sic] Panola, Miss.) 1843-1844, 1843-10-14

Union DuNk, tHC oldtS Wouiu NiisetsiiS |
have been the mortgageor and mortga-
gee in the same Instrument, both debtor
and creditor, and in the former c'-arac-
ter would have given mortgage to Sc
cure herself in the latter character
This certainly would have been no Sc
curity to the State, and the only object !
of the charter in reduiriug mortgages |
would not therefore have been IN the
least degfeepromoted. 1.-THE execution
of the mortgages, in such case, would
for the reason stated, have afforded no
additional security to the State, then the
absence Of ssch mortgage, could not
impair the security ofthe State, and con
sequently, the subscription authorized
by the supplemental act for five millions
of stock, in the name Of the State, did
not impair the security Of the State
These views are Of course founded on
the position before alluded TO that the
Legislature of the State may, by 4 law
passed in the ordinary form, constltu-
tionally authorize the Governor to sub
scribe for stock in any bank whatever,
in the name and for the use of the State.
We have thus far argued the question
Of the strict conslitutionalily of the State
bonds aside from every consideration OF
equity, because we are DESTROYS to meet
the regulators on their own ground
and drive them from the bubbles and
technlcalities behind which they strive
10 entrench themselves. But while we
believe the bonds TO be strictly conform
able to the constitution, we also believe
and will endeavor to demonstrate that
even admitting them to have been exc
cu,ed without literal compliance with
the provisions ofthe constitution relu-
salto pay them would, under existing
circumstances, be repugnant to the spirit
of the constitution, and to that law of
. conscience which God has engraved up
on the human heart and which is para
mount TO all human laws; that such re-
fusal would be q conversion Of that in
strument which was intended only as q
shield Of protection into spear Of injus-
tice and rapine-that it would change
what was meant to operate as restric-
ton Of the power Of our Legislature,
into commission and license to deceive
and plumber foreign nations and individ-
uals.
We have already demonstrated that
the only object of the 9th section Of the
18th article of the constitution, was to as
certain. the will Of the people in regard
10 every measure which proposes to
pIedgeth faith Of the State. We have
also shown that the mode of ascertain
ing the popular will in such cases IN
tacit one, and that the Legislature cur
only infer the will ofthe people, respect
ing any particular measure, from thei
having elected members favorable o
unravorabe 10 its contamination. Thi
is the mode or form Of evidence prov
ded by the constitution for ascertainin
the popular wish. 1t is therefore tn
highest but not the only evidence b
which that will can be ascertained. I'll
people might, if they pleased, meet
convention and not only authorize
that way, bonds TO be. executed ar
pledge the faith of the State for the
redemption, but they could thus susPer
or abrogate the constitution itself.
was convention of he people. or del
gates representing them, which destro
ed the old constitution and created t
new one, and similar convention mig
now in like manner abrogate the nc
constitution, although that instrume
contains clause prescribing q mode
amendment without convention.
If clause Of the constitution viii
provides a mode of amending the CT
stitution, does not take away from ,
people the power of doing the saI
thing in a different manner, how tn
can it be contended that because
people have provided in the constituGl
amode of pledging tho faith of the Sta
they are therefore deprived Of the pc
er to do the same thing in difFcre
manner. The truth is, the CONSTITUTE
does not abridge the power of I
people. 1t only limits the exercise