The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1868-09-01

declared 'that the Comptrolier-Sden en-
eral shall direct the tax collectors
and treasurers to receive the taxes
and other dues of the State IN potes
OF the Bdnk of he Stale or OF specie
paying banks of this State, aor in
coin of the United States = I. y This is
the first instance of disctilt fN in
this respect, in favor of the Bank of
the State in a period OF near half O
century. although the banks Of the
State had suspended psote payment
upon several occasions between the
years 1919 and 1884, 40 - e1I4 g z
But, the second inquiry iS that I'M
which my clients are interested, to
wit: "the legality OF the disposition
proposed TO be made by the pending
bill Of the assets and property of the
BANK OF the state, AK. d 49,. ~. w, 's
1 M0pld be content, but for the
temporary emit assment produced
by this Robin Hood procedure, to
Leave the question where It belongs
10 the determinatlon OF the coartsT-
to our. Circuit Court in the first
instance, subject, Of course, to ap-
peal; and, failing In the courts OF
'She State, 20 the, supreme Court OF
the United States Mr.. Chamber
lam, IN accordance with the doctrine
OF hls party, considers courts, it
seems as LEI entirely subordinate to the
Leg1slature, and boldly announces
that the TACT that questions Of con-
stitutIonai and legal rights are pend
ing before q court, aiIFords F an argu-
ment of"'poLIoY" IN. fdoo'' OF 1eglsla-
tive lnterpoation.
Mr. chamberlain says, virtually,
",aWay with your Chancellors, your
CouxB OF Appear, and supreme
Court OF the United states. Ii a
dispute arises on the effect OF past
Acts OF the Legislature, no matter
WhaJ mas peen the actlon taken on
them, no matter how much the Con
ettution may be appealed to, on the
one slae OF tne other, the controversy
can be at once settled by o .ne,o Act OF
rthe Legislature. LII the Legislature
>douots, let IL consult the Attorney
Generai, ana, II ne concurs, all IS
rlgmt. ,.sa ..,a,, :,
Inc oid teachlng was, that In all
Wen-reguiated governments, there
were three departmen nts-leglsiatlve,
executive ana 1udlclal-the more
independent OF each other the better.
Line modern doctrine seems to be,
! tnat the Legislative department. Is all
In al. s.
I'm the case OF Dabney, Morgan &
Co., against the Bank or the state,
ana others, the complalnnants urge
'thag under the law, as 1t stands. the
holders OF the notes or bllls OF the
bank are entitled to share among
mem Ga the assets OF the Bank OF the
state IN preference to al other claim
ants; that Att the eleventh section OF the
ACT OF 1000 Is unconstltutonai and
VOID, because II attempts TO inter
1ere with tnelr vested rights; The
olli Is niec III pehelf OF aW pln-hold-
ers VINO VII come In ana prove tnelr
Claims. claims nave pee9 PROVED to
GMe m, aIloun5 ierl5 OF aoout Sl,2oo'oOo.
Lhough 1or the most part claimants
holo large amounts, (oougnt up, as
appears a0 a greaG oepreclation since
tne panK stopped payment on IT'S
ollis,l lne cialmants are numerous
ana some OF. them set forth that they
took the piils at par before the bank
stoppeu payment ana wnlle the pilis
were q part ot the circulating medium
OF the country. Inls class OF Dill
n3iuels peV,is cl,litna p.,Gerence ever those
VINO poegne Tue DIS at q 'depreciated
prlCe aIUer Gu6 insolvency or the