The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1856-12-19
EV A rs V ILL E.:
The Bank Charter.

islature chartering the Bank was constitution
al on it's face, and that the Court had no
power to go behind the law, and enquire into
the manner of its passage. Subsequently, on
reconsideration, the Court determined it had
the power to go behind the law, and enquire,
if the legislative action, by which the bill
passed, was in accordance with the constitu
ton.
The circumstances of the passage of the /
bill which raise the doubt eff its validity, !
are these:-It first passed the Senate, and
went to the House where it was amended,
and then returned to the Senate, which body
concurred in the amendments by viva
voce vote, instead Of vote by ayes and noes
as required by the constitutions from this If
regularity Of proceeding, it is thought the
charter is void. In q question somewhat
similar in Missouri, last year, where the Gov
ernor refused to issue bonds granted by the
State to the several railroads, on the ground
that the Legislature had not fulfilled the re-
QUESTIONS of the constitution in the mede of
voting on the law, the Supreme Court decided
that although the contrary could be proven,
the Court had no right to enquire if the record
was in accordance with the facts; that I'M
less the defect appeared upon the face of the
record, it was Of itself conclusive, and no tes-
timony could be admitted to impeach it, for
there could be no higher evidence of the fact,
than the records Of proceedings kept by the
Legislature itself According to this decision,
unless the informality be patent on the re-
cord, the Court would establish dangerous
precedent by claiming the right to determine
the correctness Of the legislative record.
The question of the regularity of the pro-
ceedings of the Senate, on bank bills, was not
a point in the case decided; but il is said it
will be raised in some future proceedings, and
decision of the point obtained The Jour
nails Of the Senate do not say that the ayes
and noes were called, but records the names
of those who voted in the negative and the
affirmative, leaving it to be inferred they
were called
The charter of the bank was unquestiona-
bly, obtained through the grossest fraud and
corruption and the people have parted with a
privilege that ought to have paid the State
100000 or $4,000 per annum, and they
have transferred to corporation, as mo-
nopoly one Of the most important rights Of
sovereignty, and the highest duty of State,
that of creating the circulating medium, the
standard of value by which the property Of
every citizen is to be measured. II was the
grossest swindle ever perpetrated upon the
people of a State, whatever party was guilty
of the act. The fraud having been consum-
mated, and the authors Of it having obtained
their pieces of silver there is some comfort IN
knowledge of the fact that the management
of the new charter has fallen into the hands
of men who have had the direction of the old
bank, in whose control the business of the
new institution will be safe. They have paid
to the authors of the fraud bonus which
they had rather have seen go into the State
Treasury.
1t is better the people should lose the bonus
than to be cursed for twenty years with de-
preciated currency and deranged state OF
financial affairs. And as there is little chance,
in the present state Of parties Of procuring
another or a better charter from the State, the
people have silently acquiesced in the wrong,
and the court will no doubt give it their con-
stitutional sanction, and the commercial and
pecuniary interests of the State demand it
be settled at once.
The important question, now arises as the
charter of the old Bank expires what shall be
done with the States funds in it? If they be
taken under the control of the Legisla.u or
its agents. they will soon disappear In
three years not dollar of them will be left to
the people Let them be transferred to the
management Of the new bank, till they shall
be finally applied to their proper objects, and
let the application be made by the Bank as
agent for the State, for if the money once gets
into the hands of politicians, it will be pecu-
lated upon and squandered.
The Madison Courier congratuates the peo-
pie of the State that the New Bank has fallen
into the hands Of the owners of the Old Bank,
and says:
The dealers and peddlers appointed by the
Legislature to dispose of this act authorizing
the establishment of a State Bank, have 1t is
said realized 100000 in the operation. 1t
is also said that Mr.. NJ. G. Bright, when he sold
out livestock of the Branch in this city at pre-
minm Of fourteen per cent, gave bond to the
purchasers agreeing to indemnity them for any
loss they might sustain by the action Of the
Legislature for two and half years. I his
shows Brights confidence in the leglaity of
the action of the commissioners, or in his
ability to control the action of the wisdom of
the State" when it is congregated in the State
House in Indianapolis.