The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1849-07-21
THE LOCO Foco REGULATOR.

L-N HL
stundard-bearer to be SO very similar to their
Own.-Ed. Creole.
MONMOUTH, Sept. %, l843.
10 Gray A. Chandler, PfeadenL and Charles r.
Crus0s, Secretary, Of The .Ant-R ePudiatiag
Club Of LOWndes county. ~
Gentlemen: / was rejoiced to perceive by
the receipt Of your letter inviting me to attend
the meeting to be held at Columbus on the 2sth
inst, that the patriots Of Lowndes of all parties
are up and in action, determined to rescue the
State from the unworthy position into which
she has bOeh plunged by the party, and l hoped
unadvised resolutions Of the Legislature Of
l842, in repudiating the bonds given under the
charter of the Union Bank.
Iregret that | cannot be with you in person,
but as a citizen Of our common State, as a tax
payer, and as a father Of a family, my best
wishes attend you and your association, in the
noble and patriotic efforts to arouse our fellow
citizens of all parties to q sense Of the disgrace
and ruin which awaits US as o State and as in
dividuOlS, if we permit the repudiating resolu-
tons to blot the otherwise fair page of our
political history.
The limits Of a letter will not permit me to
attempt an exposure of the faIlacious argu.
ments resorted to by the anti-bOnders to iusti-
fly their bold attempt to cast o. the bonds of
the State. A glance at the subject seems,
however, to be called for by the occasion,
The act Incorporating the Union Bank was
passed in pursuance of the constitution. 1t
received the sanction of the people. The
bonds were created by that act, and their exc
cution and sale authorized. The bank was
organized under the original charter, and before
the passage Of the supplemental act by the
election Of managers. The supplemental act
did not then create bonds, its principal purpose
seems to have been to regulate the sale at an
earlier period than contemplated by the origi-
nal %act-it directed that they should be issued
forthwith. They were thus executed by the
Governor, issued and sold, and the proceeds
brought into the State, placed in the hands Of
the agents selected for that purpose by the
representatives of the people, and loaned out
to more. than 1000 citizens, mostly Of those in
embarrassed circumstances The people, the
sovereign power, with full knowledge Of all
this, acquiesced Tor nearly three y%ears-they
sent back to tie Legislature most Of the men
who had passed the supplemental act. They
reelected the Governor who had approved it,
and who had on their part signed the bonds.
And now, when the money is spent, and it is
apparent that loss instead of profit must result
from the speculation, new teachers Of national
law and national morals rise up among us, and
rec, mmend to us to avoid the debt on account
Of a technical exception, which they have de-
tected in the proceedings. To follow such
advice would, in my opinion. degrade the
dignity Of the State, and be unworthy Of a free
and virtuous people, Such a plea wdsld not
be listened to by the jury Of a civilized CHRIS
tian nation, who will sit on our case. i might
become a people over whom chance or force
had placed a bloody despot, but a free people,
whose government is purely representative,
where freedom Of speech and Of the press is
secured not only by q written constitution, but
by that mightiOr power, public opinion, dare
not, cannot say, after acquiescing in the acts
Of their government for three years, and after
re-electing the popular GovernrO, who had APP
proved the supplemental act and bonds:" We
are not bound in law or morals TO pay the
money borrowed by that government, on the
bonds signed by that Governor"
The history of the Union Bank charter; from
tic time it was first recommended in the Exec
utive Message in 1885, down to the passage Of
the repudiating resolutions in 1912, is the best
argument that can be used. No unprejudiced
man, who examines it carefully, and who re-
fleets upon the representative character Of our
government, can doubt the rational and moral
obligation OF the people Of The State to pay the
bonds. These are the convictions of my mind
brought about by sober reflection, and not, as
trust. by prejudice, II is well known that in
1882, / advocated in the convention that framed
the present constitution, an absolute prohibi-
ton to borrowing Of money for banking pur-
poses, and that the provision restricting the
pledge Of the faith of the State known as the
ninth section of the general provision, owesits
origin to me and its insertion into the cOnsti-
tuition to my cxertions and perseverance. It
was then strenuously opposed, as imp osing too
great limits upon the freedom Of representation.
At a later period, TOO, in 1885, was even
sternly opposed to the creation Of Q Unlon
Bank in all its forms, and as Senator from Ad -
ans, ! voted against the bill and aidOd in de-
feating it in the session Of 1886. Il was sub
sequently passed by the ruling power, the
majority, against my Wilt became law
binding law, to which all, even those who
opposed it, must submit or become revolution
lists and traitors to our country. have alluded
to my opinions and acts to show that procoh-