The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-08-13

officials. We leave the ABOVE syhoPo" "
preach its own eloquent story, trusting that u
will arouse, not managers and directors 10 a
prope. performance of their duty to society-oi
that we have no hope-but legislators to devise
and enact such coercive measures as shall be
sufficient. so far as human wisdom can effect
to protect the community from those terrific
daily disasters which, in their consequences.
are hardly less fatal to life and limb than would
be the existence of state ofcivil war.
The State OF Misslssippi-Tne Uni0n Bank
Bones Highly Important D~cision.
We learn through our exchanges and by tele-
graphic dispatches that the High Court of Err
rors and Appeals of the State of Mississippi,
the court of last resort in that State. have de-
cided the question as to the constitutional aud
lie gal liability of that State for the pay msnt Of
the bonds issued for and on account Of the Mis-
sissippi Union Bank. That court which Is
composed Of three members elected by the peo-
pie, irrespective Of party, has, through their
Chief Justice, the Hon. G. P. Smith, a leading
and influential democrat, decided that the five
millions Of bonds issued and sold in 1888 were
legally issued and sold. and are legal and
equitable obligation against the State. We are
informed that each of the Judges delivered
opinions and opinions so marked with research
and ability as to reflect the highest credit upon
the judiciary of Mississippi. BY clause in the
constitution OF that State, it is provided that
the Legislature shall determine in which court
suits shall be brought against the State. In
carrying out this provision the Legislature in
1883, passed law appointing and designating
the Superior Court Of Ohancery as the court in
which such suits should be brought. Since the
passage of this act many suits have been brought
against the State, in cases where the Legislature
deemed the claims of such character as to re-
quire legal investigation-and in many cases
judgments have been reversed in the Chancery
Court. and an appeal in the High Court Of
Errors and Appeals-in all such cases where
the legal controversy was determined against
the State, the Legislature have come promptly
forward and made provision by appropriation
for the payment of the debt.
In the case Of the Union Bank bonds, unfor-
tunately for the people and State Of Mississippi,
instead of both parties resorting to the legal
tribunals where and where alone, such questions
properly belong, warm and excited political
controversy arose as early as 1928. Appeals
we're made to the people as though they were
competent to sit and determine in their own
cause. The bugbear of taxation was made a
political hobby by many who honestly and sin
cerely thought there was no legal liability
against the State; and in this way reputation
was brought about, in the electlng Of persons
adverse to payment, to all legislative and exc
cutiye Offices. But during this whole period Of
time, the most ultra opponents Of payment
called upon dared and deded the bond holders
to sue the State and test the question, avowing
themselves ready and willing to abide the de-
cision.
There were but five millions of bonds issued
on account of the Union Bank. and the first of
the series fell due in 1850. Upon one of these
of the State as to ALL suit has been brought
as requested; brought in and before the tribu-
nails Of Mississippi-tribunals composed of men
Of rare talent, independence and ability, select
ed by the people themselves who owe the debt
The State, we are informed, was ably repre-
scented by her Attorney General and associate
counsel. The cause was most fully argued
verbally and in printed arguments. 1t has re-
ceived the calm, dispassionate consideration of
the Chancellor and the three judges Of the High
Court, and they have all unanimously decided
chat the State was legally and constitutionally
liable for tho INV mnpt IF tho daht
All honor, say we. to the judges of Missis-
sippi. They have shown themselves firm. able
and impartial men-far above party or personal
considerations. With such men. life liberty
and prosperity will ever remain sacred in Mis-
sissippi. And now let the people, with one ac-
cord and as one man, come forward and make
provision for the payment Of these and
the Planters Bank bonds. Let all past diff
ferences of opinion be forgotten. and all
unite in devising the best and quickest plan
to pay the debt Mississippi is rich and
prosperous State The tax would be very
light on individuals. With resources to the
extent of some two hundred millions and up
wards the burden would scarcely be felt. 1t
would rebound to her fame and pecuniary ad-
vantage; her credit would be restored her
great works Of internal Improvement advanced
and completed her citizens at home and
abroad would regain their credit. and the
great sisterhood Of States would rejoice in her
prosperity. We cannot but believe that such
will be the result and we say, to men of all
parties in Mississippi forget your party strifes
and party names, and commence the good
work, and it can and will be accomplished.
The WATERING PIAcEs--WHAr THEY ARE DO
ING AT THEM.-We publish, to-day, letters from
our correspondents at Newport. Saratoga, the
White Mountains, Long Branch, on the Jersey
Shore, Indian Springs Georgia, and a great