Delaware weekly Republican. [volume] (Wilmington, Del.) 1841-188?, 1857-12-03


OoHsrITUTIosALITr OF THE STATE BAsks.-
This question having been started by some
Locofooo papers, the National Intelligence,
says In the case Of Briscoe VS.. the Banks OF
inc Commonwealth OF Kentucky, of which a
iuii record may BIO found in the eleventh vol
ume OF Peters Reports, the Superior Oourt
oil the United States, decided with but a
single disScntinent in the person of MIR. Justice
Story,
:" Ihet the act Incorporating tho Bank of the
commonwealth of Kentucky was a constitn.
uonal exercise OF power by the State of Ken.
tucky, and the notes issued by the bank are
, a0s ,s,Il credit withinsthe meaning of the
The following points were also made in the
opinion. pronounced by the Court in this
case; ~
"The terms bills of credit In their mercan-
tile sense, comprehend great variety OF evil
dences OF debt which circulate In CONNER
cial country. In the early history of banks Il
seems their nOtes were generally denemina
ted bills of credit = but In modern times
they have lost that designation, and are eth
er called fbank bills or bank notes. But
the inhibitions OF the Constitution apply to
bills OF credit in a limited sense.
"Tho definition of bill Of credit, which in
cludes all classes of bills OF credit emitted by
the Colonies or States, ia paper issued by
sovereign power, containing pledge of its
faith and designing to circulate as money.
state cannot emit bills of credit, or, In
other words, it cannot issue that description
OF paper, to answer the purpose of currency,
which was denominated, before the adoption
Of the Constitution, bills of credit but
State may grant acts Of incorporation for the
attainment OF those objects which are esaen
tisl to the interests Of society. This pow
sr Is incident TO sovereignty, and there is no
limitation Of Its exercise by the States, in the
Constitution, In respect to the incorporation
OF banks.
"To constitute bill Of credit, within the
Constitution, II must DO issued by a State. ON
the faith Of the State, and designed to circu-
late as money. 1t must be paper which
circulates on the credit of State, and SO re- |
oeived and used In the ordinary business of |
n's. The individual or committee who issues |
It must have power to bind the State; they |
must act as agents, and OF course not incur
any personal responsibility, nor impart, as in |
diyiduals, any credit to the paper. These are |
the leading characteristics of bill of credit, |
which Stats cannot emit.
When a state emits bills of credit. the /
amount to be issued is fixed by law as also
the fund out Of which they are to be paid. II |
any iund be pledged for their redemption
and they are issued on the credit of the State;
which in some form appears on the face of the
notes, or by the signature Of the person who
issues them."-
LATER FROM UTAK-BRIoHAN YouNe's DE-
oLARATIoN or IHpEPENDKHoE.-Mr.kPow re-
sently arrived at San Francisco, from Utah,
says he had conversation with one of the
Mormon soldiers, an Englishman. He referred
In bitter terms to the treatment the Mormons
had received in illinois and Missouri, reflect
ed on that injustice and tyranny Of the
people of the United States, and said that the
time Was come to get even. He said they
were on the way to meet General Harvey, 10
see what he was coming for. " II he was
coming peaceably we will let him come, but
II not We will drive him back" were the words
used. Another Mormon, named Killion, an
ga man, who lives about seven miles from
Sait Lake City, spoke bitterly against the
united States, denounced Judge Drummond
-hAe-a all the Federal officers, and rejoiced that
the time had come when tho Saints would be
avenged on their enemies-that men were
found who could face the enemy, and that
barney, with his $500 men, never would enter
Sait Lake City. He also stated that Governor
brigham Young bad ordered the people to
prepare for war and they should not sell en-
agrants anything; that they must lay up pro-
VISIONS VISIONS that the men and women must not
Dress up In store clothes any more, but that all
must be saved to forward the cause Of the
Onurch against the common enemy-that the
men must be content with buckskin instead
=, pfeadcloth, and have plenty of guns and
Alnunltlon.
DECLARATION or INDEPENDENCE.
oh me iIth Of August, passed through the
elty OF Salt Lake. Remained only three or
iour hours. Had conversation with mer-
chant.a Gentile--who stated that on the nre-
Sioas sunday, Brigham Young had declared
~ tne temple, that henceforth Utah was a
separate and independent Territory, and owed
no obedience or allegiance to any form or
laws put those OF their own enactment. and
called upon the people to stand together and
support him in maintaining the cause Of God
s Emh tne ohnrch. Was told that the house Of
November. So llf 'Ae - VI
SHIPMENT OF GoLp.-The steamer Arabia.
which left Now York for LivarnooI ia.t w. |