The Yazoo Democrat. (Yazoo City, Miss.) 1844-18??, 1845-09-03
n h E Bris { oe BIN.

Thefollowing Bill was introducedby Gen.
Briscoe because upon application being
made to the Claiborne Circuit Court, a feder-
Ia Wing Judge (Coalter) reusedto allowan
information tobe fledagainsta bank ia Clai.
borne ihesbY hyoFing liladalsn
aAon. Iegafding Tie aWs d the
Ina. Th Bin merely proposes 70 make
Tie courts do their duty, and enforce the
law as il stood when the bank charters
were granted. We defy any man to point
out word ia it about releasing debtors, or
instructing the courts what judgement 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 he seiiIsd lao Of The land upon the ciUiI
death 81 corporation allits real estate re.
manning unsoId, reverts back to the original
grantor b. his heirs. The debts due to and
from he corporation are all ertinguished.
Neither tte Stockholders, nor the Directors,
or trustees " the Corporation can recorer
those debts, Or be charged with them in
their natural capacity. All be personal
estate Of he corporation gssts VI re PEO-
PIE. '-2nd Kent Com. 240, 247
This Is American authority undouhled'
and as favorable to corporations a
ever published in America, Away quoted
by Bank Attorneys, and their agents " gre
highest III questions Of law known n ae
country. we would then ASK Whit gbt
has ~ iure To voio gaytp Faadli-
lehl a5rs. md the Jews Brokers
an ha boughtppthe
0r
own book. has VESTED IN THE PEG.
.PLEw
But again. /" "A Bank schose stock Is
oscned BIZ private persons is a private corpo-
ration, though its objects and operations
partake ola public nature-2nd Kent, 222.
That private corporation is a contract be-
tween the corporators and the govern
ment, and that it cannot be impaired o. ali
tered is Bank Attorney law which every
man in the community has heard thousand
times. Now, what says Kent to this
/" I o curtail, OF cut down corporate powers
is to alter them EQUALLY, AS TO ENLARGE
THEM WOULD BE no 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 lac 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, apd the
reperend sealed Iacs Of The land?
Again Kent says, that, " fPrivate prop
.erty 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
law would be unconstitutional and void. -
2nd Kent 276.
AS soon as a judgement Of forfeiture ii
pronounced against banking Corporation,
debtor. eording 70 the settled laW Of
lis contract neither owes the swindling
note holder, or the fraudulent stOckholder.
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.
Forthese and many other reasons we
could mention, we are in favor Of the Origi-
nal Briscoe Bill as the settled law Of the
landr-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 10 understand what the Origi-
nal Briscoo BIN is, we shall keep this arti-
Gle and ths Bin in our columns until the
AN ACT
TO prescribe he mode Of preceding
ag1lusi aoorporatcd banks for a U'oia-
fion Of ttsir corporate franchises, and
against persons pretending to enercise
c0rpor1 pririieges, under acts Of inoor-
pordfi0n. and for other purposes.
SbCrlo| ) 81 ~ EEacFED % THH Lrei..
lawns oT r1r STkFr 81 MrunrF5 mas y