Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-11-03
THE BRISCoE BILL.


! which was first brought forward by de
< mocrat. and sustained by almost the entir
democratic party, at the extra session {
the Legislature of Mississippi, In ls4S
owing to its novelty, the bitter denuncia
lions it has received, and its own intrinsi
importance, has. in the present canvass 70
members of our State Legislature, mono
polized most of the public attention to tn
exclusion Of questions of still deeper pub
lie interest. The very fact that it is de
nounced by bank officers, bank stockhold
ers and bank attorneys, banks trustees AM
asslgnees, and all those who have alwayt
been btterest in denouncing every trnI,
republican and salutary measure, is les
of IFS merits, and furnishes one of the
most powerful arguments in its favor.
A great effort is being made by large
portion of the whig party, and few mis-.
taken and misguided democrats, TO defeat
II, by denouncing and misrepresenting il,
and prejudicing the minds of the unsus.
pecting and uniformed portion of the
people against il. Some of these, actua.
ted by no other motive than because they
conceive it a democratic measure some
through ignorance, or a mistaken concep.
ton OF the law, and others through design.
In my most conscientious Judgment, appro.
wing it. as an honest, just and wise mea.
sure of legislation, have felt DESTROYS of
lending my aid in its defence,
The Briscoe bill, as now advocated by
the democratic party, and large por.
ton of the wing party, which is the bill
as it originally passed the lower House of
our legislature, at the extra session of '43
and which constitutes the first seven
sections Of the present LAWS a mere re-
medy, or mode Of suing, proposed to be
provided for The State in its own name 10
proceed against Banks, other corporations
and persons pretending to hare corporate
powerS; against the former for violations
of charters, and the latter for assuming
corporate powers without a charter, with
the preventive remedy Of an injunction
TO prevent them from making away with
their effects, &c, until trial for alledged
Of charter, &c. could be had be.
fore court and jury, with one or two
other provisions Of minor Importance.
The common law Of England, the great
fountain of our law, except where repeal
ed by our constitutional or statute laws, is
now the law of Mississippi, and has been
ever since she has been State. See |
kent's Com. 473, note (a)--2 Kent's Com
2s-2 Smedes g. Marshall's Rep. 24l--3
SIN, & Mar. Rep. 366.
The part of said common law which
'elaes TO corporations, so far as The rene
iy, or mode Of proceeding against corpo-
'ations, &c. was aud is concerned, was
md is considered inadequate and defective
inder the organization Of our courts and
,iiicers in this State. But the said com
non law, so far as the obligation Of The
contracts of The State and Individuals pith
corporations, &C., and the laro of the con-
racts, is concerned, is fully adequate, and
, Is not desired or proposed By HE adro-
ates of the Briscoc bill to change IL or /
tier il in the least. Nor can this latter {
he law ofthe obligation OF such contracts I
be changed without violating the Con- !
tuition Of our State, and Of the United @
tates. v
BY the common law now, and al the
me of granting all the bank charters in a
Iississippi, in force in the State, a tacit or h
nplied condition is by law annexed or at. n
ched to every charter Of corporation, G
lat il the persons incorporated violate o.
eir charter, the same becomes forfeited b
the State. By the same common law al
force in Mississippi at the time of the cl
'anting Of all our bank charters, and at "
c time Of the making of all the contracts ii
, individuals with the banks, the effect fe
ID consequences Of such judgment OF tn
rfeilure Of the charter, would be, that SC
| the real estate held by the bank or
her corporation, would revert and be- N
,me forfeited to the original owners al
its personal estate such as negroes, spe- W
G, &c. would be forfeited 10 The State, 10
ID all its debts--those due to the corpo. er
ton or banks, as well as those due by In
6 bank or other corporation, would be TO- Ia
lily eriinguished--and these effects and ie
nsequences Of ajudgmeni Of forfeiture N
charter, apply to banks in Mississippi nc
e the following authorities: w
2 Keni's Com. Sd, 4th and 9Th elilions. ju
3O7, note (b).--Angcl q Ames on Cor. an
faiions, I'd edition, p. 667 and notes g eli
and 5).--Staie Bank VS.. the State Of 10 oh
ina. lst Blackford's Rep. 267.--Robins wi
ais. VS.. Embry ct ais Chancellor Buck. al
r).-l SIN. g. Mar. Ch, Rep. 266 -2G7, til,
Mr.. G. s. Yerger's argument in same gii
70, p. pa, 255.--Judge Thatcher, IN his pa
nion in the case Of the Com. Bank Of pr
,dney W.. the State Of Mississippi, Jan St
IN, lS45, Of our High Court Of Errors all
q AppcaIs- Fox vs.. Horah, Judge Gas.