The Arkansas banner., 1844-12-11


 the iqm 10 denae the kind of funds the stockholder should receive the being made nothing could be legal tender buhe constitutional currency. en And further appears from testimony that the retention of the 4300 by eYe gave him advantage over the other stockholders See testimony of Roane and Faul1ner) That da not eP them ol any gt they were entitled 10 IS eFatt non m m @ ; every stocholde who desired it, obtained the full amount to when he entitled by the charter and that too m specie or Its quVae
 it proper this place remark that in the report o the lnao of the committee the last Legislature there to be studied silence with regard the sale of the thousand bonds sold o j. D Beers made by Seve and Williamson commissioners of the Bank This fng omission of fact necessary to be few gabled statements in that report By keeping out Of Eew easy deceive those who were intimately acquainted with the subject and most successfully performed its office The effect of sIow first that the compensation the commissioners extaagan secondly that the retention of the 4300 was placed in abeter situation than other stockholders.
 Could be possible that this omission accidental when some of the committee searching the Real Estate Bank for all mfor nation the subjects and spaing the private correspondence Of friends which It was deemed necessary to make pubic 10 violate the private correspondence without precedent honorable and truly hoped atit will be thought unworthy of imitation by any committee hereafter.
 The question that itself did the Bank lose anything by this operation In warranted by the testimony ill stating that far from losing the Bank ofed on the 4 30o ote amount onehalf per per annun which $337 30, paid by seye to the Bank and the interest
 The Bank saved precisely the latter in the same way that order the Bank, contend he should have done He could have drawn that specie his stock money, and the Bank would have obliged to pay transportation and risk from New York this place. which would have been two and one per clear heEefore the Bank benefited in two ways first by obtaining the premium demanded on the exchange and secondly by saving the cost of anspoaon both o which would have announced to seven hundred and fifteen dollars
 has been gayey urged by ome that he adno right take the capital of the Bank either at home or abroad
 What is the capital of the Bank? answer the money derived from the sale of the bonds and with which the Bank put into operation If there any other money means have knowledge which obtained To declare that the capital of Bank could not be paid the stockholders their equal saying they ought no have been paid all In other words that readaon WoudhaHe been right Ii amounts this because the capital derived from the disposition of the bonds all the money belonging the Bank which thado comply with the requionsOf the charter If the stockholders ought have been paid the of the Bank the could and probably would have been returned immediately by the stockholders and deemed out of that very capital and 1s ali admit that they could have done this indirectly And they could have done indirectly, why not do 1t directly
 But contend that the stockholders any other persons could have been compelled to take bank paper with the Constitution which provides that nothing lawful tender but gold and Hef and no boad directors court or legislature nqly that provision And 10 contend, further that the Bank not bound to redeem the paid the stockholders the capital Is n effect declaring refusal to perform promise to be lawful and commentaries and e1ectualy destroy the validity of Such doctrine would violate the Constitution introduce ana sanction 50 uc bad a lead to so many mtcleyous conse- qlences oyeum many well settled principles of law, and nanie absurd that t is hoped will hereafter be heard advance such doctrine.
 The report made the last the Legislature by le ma ory of the from books of the Bank and evidence before the committee that A. H. Seyer the time he used the 300 had awarded him by the central 300 shares of stock in the Bank but had has he since per 1eeed he report does not undertake to say whether the stock defective, whether either substance but merely makes sweeping charge without solitary specification knowing perhaps that where noence be drawn mankind by accident inclination generally draw the This pas told When the very books the Bank, which the committee had access told the whole would have been just magnanou instead of having stated that he had not perfected the stock, have told the whole truth by stating that Seyerhad by the of the boad sold bis stock Jonson and that
  it. and that the latter had drawn dollar of upon Dr. Paley, in his moral philosophy and Dr. Adam Clark in his commentaries the scriptures lay down he who tells part of story, which makes false impression and re- monder untold guilty of seood as if he wilfly msrepe sened the whole matter.
 In justice, when suppesses or eyaes the truth many important particular he deemed unworthy of credit his whole story Is d55ecyed lpon tig principle it is for yoronorabe body and candid community, determine whether report luded to, does not deserve q similar fate.
 The report investigating committee especially where the rep ualon eowman stake ought possess characteristics which Cicero attributes honest historian, That he should dare to tell faehood leave truth untold If this just and focibe admonion had been observed by the authors report alluded to should have been relieved of this unpleasant inquiry The retention of the $14300 by Sever might alone have been justly Vindeaed the simple ground that the entire satisfaction of the Bank and that neither the president any director soekeer that any subsequent period ever thought t at all improper, much less breach of rust
 And if had been either or if had subjected the Bank to a o Is obe supposed that the directors Woudhaye The fact that this transaction recognized and approved pre- sden and dneo the very whose business was to detect error and guard the interest of the Bank the proof that there nothing u the conduct of Col The a onal fact that Davies met Seye Louisville the funds of the Bank and approved of the commissioners together With resolution of thanks voed Davies thereby vote of haks 10 the commissioners ohe prompt and manner in which ey had discharged then duty the Bank and this full and com ee sanction of all that Seve had done they did not