Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-07-30
poIftfraI.
EXTRACT FROM A. G. M'NUTT'S
ADDRESS TO THE PEOPLE OF
MISSISSIPPI, IN l843.

q IL" 1"S oitCt 'SuCu tuC OTlSIHHt law |
Several members voted against the supple |
ment, because il required branches to be
established at Ripley and Ponola instead
lof Aberdeen and Tillatoba. Previous to
the passage of the suppl ment ten mana
lgers of the bank were elected by the LIE.
i gislature, who were authorized to control
the bank Until FIVE hundred thousand dol
lars should be paid in by the subscribers
for stock. That supplement took from
the Governor the power of appointing the
i thirteen directors Of the bank for the first
year of its existence, and authorized the
issuance of five millions of dollars in State
bonds, to be negotiated and sold by COM
missioners to be appointed by the mana
gers OF the hank. sPr0pided said bonds
shall not be sold under their par Ualue.''
The bill as il passed the House, contained
an addition to the provision OF the words
or s'their equivalent" which was stricken
out in the Senate. The supplement pass
ed the House by a vote of fifty five In ia
vor of the bill to twenty-five against it,
Twenty-Five senators recorded their votes
in its favor, and but three in opposition to
the measure. deliberately and anxious
lily considered the bin, and son a view Of
every thing which (was) urged for and a
gainst it;' my mind was not tolerably
iclear that it was unauthorized by the con-
stiluiion." A just respect for the wisdom
of the legislature naturally decided the ba-
lance in their favor. reflected that the
supplement took from me the power of ap
pointing the thirteen directors of the bank
for the first year it would discount-that
this circumstance might, perhaps, imper-
ceptihly exercise some influence over my
Judgment, aud that the original charter
vested "in the executive dangerous pow
er, capable of being welded as an engine
10 advance the unhciy purposes of ambi-
ton and avarice." The supplement also
contained clause that the Stale bond
should not be sold for less than their par
value. The original charter contained no
, such restriction. The best five per cent
stocks in the Union were not at that peri.
i lod selling at their par value. was con.
vInced that Mississippi FIVE per cent stocks,
never could be sold at par. fully beIiep-
ed that the supplement act would destroy
i The Union Bank charter. Every member
then in the Legislature, as we'll as every
lperson congregated at Jackson, we'll knew
that | was most anxious for the failure oil
the whole scheme, and that ! would s:ran-
e gle the monster whenever had the power
J. These considerations induced me to put my
\ signature to the supplemental bill. That
!, act, so lar from doing mischief, has pre-
% vented the sale Of ten and half millions o.
e dolats in the State bonds, and has relieved
r. The stale from all obligations to paw five
millions of dollars more, sold in 1888 tc
t. NJ Bddle, in trust and for the use of the
bank of,he u. States. If had been cor
t rupt. | would have vetoed the supplement
&c retained the power of controlling the pa
;" rent bank and all lis branches, and have
welded the institution ''as an engine to ad
= vance the unholy purpose of ambition ant
q avarice." The immense army of appli
y canis for the Offices OF directors of the moth
Us er bank and branches, for the places o
eT cashiers and clerks, and for loans to saw,
their property from the grasp of their i'm
Fortunate creditors, would have courte
- me with oriental adulaIion. fpreferre
remaining true to the people, and TO m
own conscience. By so doing, | brough
le- bank and all its worshippers. My life wa
ofI often threatened, and all the influence
tie the bank was openly used to defeat my re
election in 1889. During the whole per
cd of the bitter contest waged by the ban
against me, never quailed-never lei a
opportunity pass OF giving II well direc
ed blow, and in the course of two years
cheered and sustained by you my fello'
an citizens, extinguished the foul, corrup
'er ing and enslasing monster. No person;
ne. considerations governed me In this course
'rn AT least, one half oil the managers Of tn
W. bank voted for me in 1887. Ineithe
asked for nor obtained loans Of the banI
lr- for myself or friends--never was liable
Try it for single dollar The directors wou
nd al anv time, have gladly loaned me ;
BET much money as ever was bestowed on e
ut- Their of their most favored customers or G
nc themselves. Although was then bein
to- borne down by pressing security deb
ed which we're rapidly absorbing the labor
MS many years, was determined never
he lay myself under any obligation to Il
or bank, by receiving its favors. | def'
res her power, and on appealing to the 5
It. vereiCn. was must triumphantly sustainel
y" Many persons are now claiming gre
credit for advising me to veto the suppl
ght mental act. We are assured by Ho
I'M writ !" that the hoart of man is dece
a full above all things, desperately wicked
Some Of my advisers will remember u