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

"hISH Noo nlSL DIouSul IoIWdIu ny uS-
mocrat, and sustained by almost the entire
democratic party, at the extra session OF
the Legislature of Mississippi, in 1913,
owing to its novelty, the bitter denuncia-
tons it has received, and its own intrinsic.
importance, has, in the present canvass for
members of our State Legislature, mono
polized most of the public attention to the
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 and
assignees, and all those who have always
been biuerest in denouncing every truly
republican and salutary measure, is test
of its merits, and furnishes one Of the
most powerful arguments in its favor.
A great effort is being made by large
portion of the wing party, and few mis-
taken and misguided democrats, TO defeat
it, by denouncing and misrepresenting it,
and prejudicing the minds of the unsus-
pecting and uniformed portion of the
people against it. Some of these, actua-
ted by no other motive than because they
conceive it democratic measure some
through ignorance, or 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 mere re-.
medy, or mode Of suing, proposed to be
prouided for the State an its orn name TO
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 charter, with
the preventive remedy Of an injunction
to prevent them from making away, with
their effects, &c, until trial for alledged
violation of charter, &c. could be had he
fore a 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
28-2 Smedes & MarshalPs Rep. 24l-G
SIN. & Mar. Rep. 800.
The part of said common law which
relates TO corporations, so far as the rene
dy. or mode of proceeding against corpo
rations, sc. was and is concerned, wa.
and is considered inadequate and defective
under the organization of our courts ant
officers In this State. But the said com
mon law, so far as the obligation Of tn
contracts of The State and Individuals ,rih
corporations, &c, and the lao of the cOa
tracts, is concerned, is fully adequate, an
1t IS not desired or proposed By the adUO
Gates of the Briscoc bill to change IL o
alter it an the least. Nor can this latter
the law of the obligation of such contract
be changed without violating the Con
stitution of our State, and of the Unite
States.
By the common law now, and at tn
time of granting all the bank charters il
Mississippi, in force in the State, tacit 0
implied condition is by law,annexed or al
tached to every charter of corporation
that if the persons incorporated yiolat
their charter, the same becomes forfeite
to the State. By the same common lax
| in force in Mississippi at the time Of tn
granting of all our bank charters, and q
the time of the making of all the contract
by individuals with the banks, the effec
and consequences of such judgment c
forfeiture of the charter, would be, thu
all the real estate held by the bank Q
other corporation, would revert and be
come forfeited to the original owners
all its personal estate such as negroes, spe
Gle, sc. would be forfeited to the State
and all its debts-those due to the corpc
ration or banks, as we'll as those due b
J the bank or other corporation, would be tC
tally ertinguished--nud these effects an
consequences Of ajudgme'st Of foJeita'
of charter, apply to banks in MISSISSIPPI
, See the following authorities:
t 2 Kent's Com. Sd, 4th aud 9th clifton
D. 3O7, note (b)-Angel d Ames on Co
porations, I'd edition, p. 667 and notes
4 and 5).-State Bank vs.. the State of II
! diana. lst Blackford's Rep. 267.-Robir
, ct ais. vs.. Embry ct ais. Chancellor Bucl
r ner).-I SIN. & Mar. Oh. Rep. 266-26
: and Mr.. G. S. Yerger's argument in san
case. D. pa, 255.--Judge Thacher, IN h
opinion in The case of the Com. Bank
Rodney vs.. the State of Mississippi, Jal
! term, iS45, OF our High Court Of Erro
! and Appeals Fox vs.. Horah, Judge Ga
ton, IredeA's Equity Rep. 35s.--Sixtet
wing members Of the Legislature at t