Arkansas democratic banner., 1851-04-22
-. conrl of tA. rni.ea stats..
1 ls.-Dscsunsa Tea1. l5S0.

r-.-.s H. Ta,aaa. .irsa#s.s.
 g. Javr-s MILAN deligsfgi tse o9.al3a Of et,s ,g before us CT SF.t oS error to the 1, 1.s.u, C5lr of AtAa1sis.
 A, t-tl4a xag hrDI,ht bF the S.aae 9t Arkansas - ,s pslsskf C.fc.tit Co.ift. ag4flsi the pi1inli ~ ..-,r and hss s1fe'Ics. Chester Ashley and .4t..s ap,l as oh fal 3pal IS late treasurer oi ..,ts f.f Inc r-cJyefy 7f certain sum of moasy ,ssra8 b haye been receyed bg ii5n, as IT asatei. 5.g.-.i ,i- 25tA day pf OcioJeF, 1856, and the .,E s.. 1f D-ren t.-r I{3S, And Judgment ..s r.-s4sfe4 ses,H.t bua and h;s securities, on ,-s1s,h .,g l.1se. lsl5. fE S},}i9 = sBd cusis - s-,seegtl5a ba4iat been ssaed on the ildgmeat, ,e .3tb of Fehtasfy. ISfT. the plaintiff rendered ,s ,iei.eian; a esfr wto prosec tied tie saii ,5 ... s-aey. g,afal. re fBil au1Jnt of The ja1g. r-r.. fa,ercst aai casts, n ihe notes Of the bank .E sgs Sea.e 5f Afsaas1s, wkicb was refused.
 T5sa.5se f8e-s being sta..i "a 8 Petiiion to inc k .,..5a. e9ufs oi Atsapsas 0I the 25th February, Is.i an alternative maadsn9s was isSaed lo T4asslI. he defendant Ia error, to feceiye the H,st 7-ss tz4,sfsestla ot iitH judgment, oI show ,.s1;. yrAf aa saqli refuse I9 do so.
 vs -H. rstara ut .te m4h3an1s. the defendant etsur-E tta 4deuaaJ and tender of the notes; but s....t That le as H9t authorized to receive then. ii ss..s.aa,.5a 5l the judgment becaIse the Zsih ,sr sa aI ta. bans charter under which alone the l4ta q a4A 1f tf aeisAS ti2 5s 4s aas feY-a.-i hy aq aet oi the tsgisiasafr, s35ls, Jan. 90, isi5.
 {. vas s-rsed by tle parties that the record of .s F. .4l.l. should b. made part of ihe proceed 5as: ,ssI 'at 8eie84aa. was the proper officer by s, ---..ge .4t.slscti5u of the judgment; that the s..s sesi,.ef were tss ted by tbe bank prias to tag ,s4g ,ia and tha, dgwR Q the year 1915, the B5.ss a- the bank were reeeivei and paid out by t#e State in 4.s. 9a.ke ot all pubic. dues. That
 grs f al 1-.r 45s.z f1.aaaS-
 The eoI,. were of op.nion. that the return of ..e asilaisa. sh',wed a saIeIens cause for a rc- f.S4' 8 9be, t6g mandate fl tne wrii, and gave =a. -45 gt Arcpfilusiy
 Tag z,tA secJllu af inc bank charter, which was rc2sa.at bs The sc. a. 1885. pfoy,ded, " thai the l. s ali notes yi SI#3 asgsauon saai be received .a gayp ats 3: i Us lae 70 'he State of Arkau- sas" And iae question raised for consideration aad decsoa .S whether The repeal of tii.S section bta.s .ae sasr wifhin the constitution of the Uni- te aty. uattAp p5hit,ts a Sta.e iTQm lmpanug ta 1t.f-ag9GS oi q contract
 Tae bank charter was pasSsd the 2d of Novem- beI ls5j, "RItt a capital of one million of dollars, tl b. E4lsed bs a sale of tAe bonds of the State. loans 9r negotiations, together with such other fua.l, as may a1e oF hereafter belong to, q be placed H8daE .Ae control A2d direction of the Sta;-" gbl p,acpai bank io b. located a. the
 
 te3 president aa3 twelve directors, to be ap- pl'~3 5y io.nt vote of ths general assembly, B--lr.es wrre retg 2. @ e. establshe& the pre- s5aH.s and directors whereof to b. elected Ill the s8Me Haaaer
 The president and directors were to hare a com u9l seal, weTe authorized to deal in baiiion gold, S.vei, &c., purchase Teal property, erect balld- .es3. Se., gsge n1tes make loans al eight Der ceHt aa endorsed paper CT on mo tEageS, within ..ta a sA Ht4rH sra constituted l, VT . make report o. tse condition Of the bank aaalaiy, 0 ;he legislature, and perform other { .-s and any debtor l. the bank "as maker of c-is:sr. 3t any note. hll. 0f bond expressly made ues5..ab.e and payable a, the bank, who delays pl'yaea,.' sh)li have judgment entered aganSt t.-1 Ja d nouce of thirty days
 >9lEe douat has been suggested whether the E4'ci ot th.s bank were Rot bll.s 3f creht w..hin te pfoaisiI3a of the c5gSfi,ati1n Ne thiuk iaey cann). be S0 held, consistently with the view taken ey thiS court u The case of Brisc0e Ys tas BaS ef Ae CsaHigaeraia ,f hestacEy, Peters {l II was ihsre said, that "to constitute a bill o credit within the constitution II must be iSsuel tf s,a'e oa The faith Of the State, and De de- 5-aet D circulate as money. II must be a paper walca eltcglates on the credit of the State; and li N received anl used in the ordinary business of aI-'
 T-- 5Als Of .his bank are not made payable by ia= S.a,e. capital E provided for their redemp- t9a and tle general management of the bank Ent.r le caar.ef, Is committed to the president and t.,-t'1S as ln ordinary banking associations. I.@l nay, 4 a summary manner, ootain iudg- l-nis 2-alnst theIr deb!orS. And although the -i-l-1-z 8l- xpIeSSiy made liable to hs sued Ys- X no, doubted, that they may be held legal | responsible, for an abuse of the trust eonfiled 8 ltaa.
 The entire stock of ihe bank IS owned by the sae. | furnished the capital and receives the PHaS And In adt,tlgn to the credit gwen to the aors o' sle bank by the capital provided, the State iHsz 10 Jhe charter, they shall be received n s. Fsll-a a,s gf debts due toit. Is tkis contract \ satac. Is deiaed to bc an agreement between 1'l9 ai p9ts0nss t0 do Or not 10 do certain thing iar gl1rgasjag oa tue part oi ;he State ls, 10 re c-1e .le nq5eS oi the bank H psyH4eu, from it's ce1-fs- This comes wIthIa the definition Of con dA'- j. s contract fodRled upon good and valuable consideration. i consideration lene dc4sl % as state as ,t profits are increased by sustain 'H+ a- e'cdli and consequently extending Inc cir- c-.4..la oi 'Ae paper of he bank
 ".,E wh9E was U.s contract made We an sNe' SiiA tA= haldets of toe paper of The bank l- A}-ts arg ua1- payable to bearer, conse uently t''3 53aa ale hoHier, has Tight, under The 2S th s.-l11 ,o pas io ihe State any debt he may owe B. .a '4e paper 5l t.c bank. l. $ a continuing S.A's4 .g la= StAtc. tAa. the bo.eS shall be So i,-r'e'. Saea contract would oe binding on an --','-1}As and .t .s u9, less So ca State
 o4t iat S;sie had Ca. usht to repeal the ahoye S,'l lasy D. admitted. And tte sn4iSsiopz of tbs. la4N su'se4 4aent.y, are wIlhout the guaranty. Bu, @ A9-es n cir llilpas a. the tame af Inc repeal. Aie not adecieI ty t The holder laav st,ll clam, -s rtal by iha !ofee Of the c5a14ct b tlsschargs ah' deo1 ae maF 0vc b the S;ate Ia the notes thus &SBrd.
 i' .s afEded JAai theIe could have been violated o3 -pa-iei ao cpniract with tue p.aintlT in error a H 157' A9' apP-H H he aai tLe notes ,eudered by l- 70 Als Plsscsson, d the tune the 23th section v ss repealed.
 I' B aifm2e3 that he had the notes in his pos .'1'a a' tAe tune he made Inc tender, and thst ."1s VeFe ssaed by the bank before the rersesl of ... a'a' aa4 n3ihla. Iagre than this could be
 Eaataayo oi the State, that the notes of .Ae .-.'> +1'- -s ts fereIved n dIsehargc of pabhe embraced ai. Inc hllis sssue.a oy Il Inc re Pa. 's Rae s-Fagaaty was intended, no donht to sA. 4-e a-l tAe na'eS of he bank then in cireuls ". ta1i iae Eepeal of the 2sth sectloa. fhe 49'',- '-d to 'e eiye aud pay ou; these notes. .o lAa, Ame 20 7a@ doab,ed the obligation Of .. >A'1 to Feelye them. The law was absolute
 '.i@tNe oH iA= 5f1cets of The State. The
 --.. o' ,At paper ela4ae. she tvueGt ot th!s ob- s-a r 4t1 tt & EaUtge4-t t.re f,sf. er,.ls ,..r.