Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-02-28

Z pressed.
1t is not insisted that the twelfth section
, OF the bank charter has been expressly re-
| Pealed, until the passage Of the act OF 1863
before referred 20, but it is argued that the
same was by implication repealed hy said
section Coz Of the Code.
A legislative intention to repeal an ex-
listing statute is never presumed, nor are i'm.
piled repeats encouraged. Unless the pro-
visions Of a subsequent statute be inconsis-
tent with those Of prior statute, it cannot
be said that the Legislature intended to re-
peal il. Smith s Hickman heirs, Cooke,
$50; Hockaday yS. Wilson, lst Head, Jl5.
Statutes are repealed in whole or in part
by subsequent statutes, when the latter re-
terring 10 them, in terms declare the repeal
and the extent Of it, or when the pr0vis-
/ ions Of the subsequent statute in their ope-
ration are inconsistent with or repugnant
TO the unchanged or mmodifed operation
Of such former statutes. In the latter case
the former statutes are repealed or changed
or modified by the necessary implication
Of an express intention on the part Of the
Legislature 10 compass that end, 10 the ex-
tent and in those particulars only in which
such inconsistency or repugnancy exist,
and this without any reference even to such
former statues or any express declaration
to that purpose Browning as Jones, 4
Hum. 60.
If the statutes are not incompatible with
each other, and both can stand and have
effect, an implied repeal does not take
place, and we must give operation 10 both.
Cate az. the State Sneed, 100.
From these general rules it is manifest
that unless the act Of 1853 is inconsistent
with, or repugnant to, the 18th section Of
the act incorporating the bank, 50 that both
cannot stand, and effect be given to both,
the act Of 1858 cannot be construed 10 re-
peal by implication the 18th section Of the
act Of 1888. How is this?
By the latter it is enacted. " that the
bills or notes of the said corporation
originally made payable, or which shall
have become payable on demand in gold or
silver coin, shall be receivable at the
Treasury Of this State, and by all tax col
lectors and other public officers, in all pay
ments for taxes or other MONEYS due 10 the
State"
The act Of 1858, which il is insisted re-
peals the foregoing section 0f the act OF
1885, declares that besides the lawful cur
rency Of the United States the collector
shall receive in discharge Of public taxes,
and other dues to the State, such bank notes
as are current and passing at par in this
State, warrants issued by the Comptroller
and certificate for killing wildcats.
This act simply makes it the duty of the
collector 10 receive such bank notes as are
current and passing at par, certain warrants
and certain certifcates besides the consti-
mtional and lawful currency of the United
states, in discharge Of public taxes and
other due7 to the State, but does not provide
that he shall receive nothing else. 1t can,
therefore, stand in perfect harmony with
the provisions of the 18th section Of The
bank charter, and full effect may be given
10 both as though they were parts Of the
same statute.
We are, therefore, of opinion that it can
not be said, section COG Of the Code ope-
rated a. repeal Of section y of the act
of 1898.
That the Legislature itself was of the
same opinion IL evidenced by the fact that,
by express enactment, il did declare the
aald 18th section repealed IN 1865
We come now 20 the consideration Of
more important questions
What effect is TO be given 10 the said 18th
section of said bank charter, and to the re-
peal thereof in 1862
The caption of the act states the purpose
of the act To be To establish a State Bank.
TO raise fund for internal improvement.
and to aid in the establishment of a system
of education
BY the first section IL IL declared " that a
bank shall be- and is hereby established in
the name aud for the benefit of the State, TO
be known under the name and style OF
The Bank of Tennessee, and the faith and
credit of the State are hereby pledged for
the support of the said bank, and to supply
any deficiency in the funds hereinafter
specitcally pledged, and TO give indemnify
for all losees arising from such deficiency"
And 10y the second section the whole Of
the common school fund, whether the same
had been invested i'm bank stock or was in
the hands of the Superintendent of Public
Instruction, or of county agents or other
persons except so much as may have been
vested IN works of internal improvement,
As well az the proceeds Of the Ocoee lands,
and the surplus Federal revenue on deposit
with the State, together with the uneXpend-
ed interest thereon, was constituted part
Of the capital stock of said bank
BY section eight il was provided, among
other things, "that Of the dividends which
shall he declared 10y the bank, one hundred
thousand dollars shall be annually set apart
for common schools, and the faith Of the
State is hereby pledged for an annual APP
preparation of said amount to common
schools, 20 be applied a. the General As
sembly NAV direct. OF the dividends of
the bank remaining, there shall be annually
appropriated for thirty years, and no Ion
ger, or not so long if the bank should not
continue so long in operation, eighteen
thousand dollars to county academies, 10 be
applied as the General Assembly may di-
rect, and the faith of the State is hereby
pledged for the payment of said sum"
These are finds referred to in the first
section of said act as funds hereafter spe~
officially pledged and TO supply any def
cheney TO which 'the faith and credit Of the
State" were pledged.
The ordinary banking powers and privi-
leges, including the power to issue bills or
notes designed to pass as currency, were
conferred upon the bank, and for its sup
port the faith and credit of the State were
pledged. For certain purposes it was con-
stituted a fiscal agent of the State, and a. a
means of further aiding in the accomplish
ment OF the charter, it was declared that
the bills OF notes of the bank of certain
description should be- receivable at the
treasury of this State and by all tax col
lectors and other public officers in all pay
mcnts tortaNes or other moneys due 10 the
State.
The bank was organized and went into
operation under the provisions Of its char
tor-issued IT, bills or notes, which were
put into circulation az money and passed
currently ut par value, and were faithfully
and promptly received by the State, in pay
meni of al moneys due 10, until the disas-
trous period in the history Of the Country,
when the bank and its assets were seized by
the persons engaged in a hostile armed re.
beion against the lawful authorities Of
the government Of the United States. who,
without authority of law, and for the pur-
pose of aiding the rebellion, removed the
same beyond the limits Of the State; but
for the decision Of this case, We do not
deem 10 necessary 10 express any opinion as
TO the effect of this reasonable seizure, re-
moyal and appropriation Of the assets OF
the hark-upou its Subsequent transaC-
lions. or Of the ultimate liability Of the
State for lis lawful issues, or Of the right OF
Tarf5ae fTrfpr the 10Th section of the char