The Yazoo Democrat. (Yazoo City, Miss.) 1844-18??, 1845-09-10
POLITICAL
II h G Bris c De Bin.

| The following Bill was introduced by Gen.
Briscoe beeauses upon application being
made tothe Claiborne Circuit Court, a feder-
al Wing Judge (Coalter) refusedto allowan
information to be filedagainst bank in Clai-
borne, thereby favoring fraudulent corpo-
ration, and disregarding the laws of the
land. This Bill merely proposes to make
the courts do their duty, and enforce the
law as it stood when the bank charters
were granted. We defy any man to point
out word in itabout releasing debtors, or
instructing the courts what judi cement they
are to pronounce. 1t merely secures fair
trial under the law of the contract, leaving
the courts to say, and expound what the law
is. Now what is, and what has been that
law from time immemorial. According
to the settled laaO Of the land upon the chill
death of corporation all its real estate re-
naming unsold, reverts back to the original
grantor or his heirs. The debts due to and
front The corporation are all erttnguished'
Neither the Stockholders, nor the Directors,
or trustees Of the Corporation can recover
those debts, or be charged with them in
their natural capacity. All the personal
estate of the corporation UestS in the PEG
PLE."-2nd Kent Com. 246, PAT.
This is American authority undoubted,
and as favorable to corporations as any
ever published in America, always quoted
by Bank Attorneys, and their agents as the
highest in questions Of law known in the
country. We would then ask what right
has the Legislature to vote away to fraudu-
lent stockholders, and the Jews Brokers
and swindlers who have boughtup the depre.
ciated Bank paper property which accord
ing to their own book, has "vEsTED IN
THE PEOPLEp
= But again. "A Bank whose S,ocs q
ou0ned By private persons IS a private cOrPO-
ration, though its objects and operations
partake ola public "nature-2nd Kent, 222.
That a private corporation is contract be-
tween the corporatOrs and the govern
ment, and that it cannot be impaired or al
tered is Bank Attorney law which every
man in the community has heard thousand
times. Now, what says Kent to this
al o curtail, or cut down corporate powers
is to alter them EQUALLY, AS TO ENLARGE
THEM WOULD BE TO ALTER"-2nd Kent,
247.
Now, what right has the Legislature to
say that trustees SHALL COLLECT the debts
for the benefit of the stockholders, and note
holders, when the lao of the contract says
no such thing shall be done Is it not to
enlarge CORPORATE POWERS to alter the
contract in the TEETH OF KENT, and the
reuerend settled lacs of the land?
Again Kent says, that fPrivate prop
ery should be taken for purpose not of a
public nature, as if the Legislature should
take the property of A and give it to B, the
would be unconstitutional and void. p
2na KEN, 276.
As soon as a judgement of forfeiture is
pronounced against banking corporation,
a debtor, according to the "settled law of
his contract, neither owes the swindling
note holder, or the fraudulent stakeholder
one dime. Then to take his property BY
the Sheriff and give it to them, is to take.
the property of A and give it to B.
For and many other reasons we
could mention, we are in favor of the origi-
nal Briscoe Bill as the settled law of the
land'-as the law Of the contract which to
alter the Legislature has no power whatev-
er. Believing that all the people of'all
parties wish to understand what the origi-
nal BriscOe BIN is, we shall keep this arti-
Gle and the Bin in our columns until the
election.
AN ACT
TO prescribe he mode Of preceding
agaalsi Incorporated banks for a Uiola.
siOa Of their corporate franchises, and
against persons pretending 70 exercise
corporate privileges, under acts Of iHcor-
ponation, and for other purposes.
SIC ZION d. bEIr ENhCrEu ~ TuE l.EaIs-
LaruRE oT THE sTArE o. MsHsuFFi, Thatit