The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1872-03-28
SfXTY-S SIXTH DAY.
SENATE

WEDNESDAY, March 20, 1872.
President re-appointed Mr.. Gibbs on the
Joint Standing Committee on Public Build
ings-
Mr.. Abbott Moved that Mr.. Bennett be
re-appointed on said Committee, and the
| question being put by Mr.. Warner, it was
carried.
BY Mr.. Warner: For the relief of John
| I. Semmes, former sheriff and eX-collector
of Madison county, and the sureties upon
his official bonds.
! Referred to Judiciary Committee.
By Mr.. Seal To incorporate the Glasgow
and Liverpool and Mississippi City Steam
ship and Packet Company, in the State OF
Mississippi.
Referred to Committee on Agriculture,
| Manufactures and Commerce.
| BY Mr.. Bowles: To amend an act for the
permanent location of the seat of justice OF
Bolivar county. Passed.
| BY Mr.. Gleed- For the relief of George
Harston, of Lowndes county.
Referred to Finance Committee.
By Mr.. Seal: An act to provide for the
collection of taxes on the property OF rail-
roads and other corporations for pecuniary
profits. as required by the Constitution.
Referred TO Judiciary Committee.
By Mr.. Allen: To remove the civil dis
abilities of Henry G. Montgomery, a minor
of Lee county. Passed.
PROTEST.
The Democrats and Conservatives of the
Senate yesterday spread upon the journals
the following protest:
Mr.. Presideat-The undersigned mem
bers of the Sena-e enter this their protest
to the action of the Senate in passing Sen
ate Bill l2l, entitled an act to fund the float
ing debt of the State. and to issue sinking
fund bonds. and for otner purposes. That
the reason Tor Directing to the passage of
this bill may be fully understood. the un-
dersigneG deem it necessary to give brief
synopsis of the bill, from which its enormi
ties will clearly appear TO any Intelligent
mind. The bill provides for the Issuance of
bonds, payable in ten years, to the amount
OF one million dollars, bearing eight per
centum interest per -annum, payable semi
annually. The bonds are to be issued in
TOUR series, and IN denominations as follows
to-Wit: Five hundred bonds of one thous-
and dollars each; five hundred bonds of
five hundred dollars each two thousand
bonds of one hundred dollars each, and one
thousand bonds of fifty dollars each. To
provide for the payment of principal and
interest of these bonds, a tax OF eight tenths
OF one mill on the dollar on the entire taxa
bic property in this State is levied. and in
addition to this tax. siA -tenths of one per
centum on the value of all property real
and personal Is levied for general purposes.
All taxes and dues to the State are required
to be paid Ia lawful currency or certificates
of indebtedness and all warrants heretofore
issued, or hereafter to be issued, are CONVEX
tible into bonds. Priority in payment of
warrants is given To such as may be issued
after the passage of the bill, and no war
rant issued before that date is to be paid |
unless there is sufficient funds i'm the Trea- |
sury TO pay all warrants issued after the |
passage of the act@
In view of these features Of the bill, we |
most earnestly protest against the passage |
of the bill for the following reasons: lst |
The denominations of the bonds are toe large
TO benefit the holders of small warrants |
whpe If fraught with any benefits at all, it |
IS only to capitalists and monied men, a /
class having at least no higher claim to the |
care and protection of the Iepis-
lature, than the toiling millions who con-
stltute the stay and support of the govern
ment, I'd. That feature of the bill recurring
All dues 20 the State to be paid exclusively
IN currency. or certificates of indebtedness |
Is al express reputation on the part OF the
state OF her contracts with holders of war
rants drawn by the Auditor on the Treasu-
rer prior to the passage of the act; for by
the law OF the State, such warrants were
anu are declared to be receivable IN paw
nent of all taxes and dues to the State
see section 1862 of the Revised Code of
1871 and this has been the law in this State
snce 1857. Being the law. il entered into
a u formed part OF the contract of
ne state, with all holders of warrants |
ssued during its existence; giving TO Auch
earFAnts all OF the marketable or circulat-
ng value they Possessed. For the STATE ,
low 10 refuse TO accept such paper in nav
nent of all dues to the State is NOT onfv a ,
breach of faith. without iusfifi
alton or excuse, but a palpable violation of | !
10Th the Federal and State CONSTITUTIONS
which prohibits any law being passed i'm I
airing the obligation of contracts. In ad-
ltton 20 this an unjust and oppressive dis
is made between that class of
feditOrs who hold certificates of indebted I
ess, and those who hold warrants issued nv 4 I
ne Auditor. Both species OF paper by thel Z
AW nave been declared 20 be receivable in
sH. 1nent OF taxes and dues to the State: Z
me Ialtn z kept with one, il is recklessly
roken with the other. = =
And th4s Is the State placed in an attitude {
galhst winch We as represent atives in part | +
the people, jealous of her honor and in
sgrlty, most earnestly aud honestly nrotest. | G
Not only in this Is the Stats placed IN the
aameful attitude of dishonest 500 an
srupulQug deptors having power--nses n | y
My to Tictinifze those Whom. she IL in S11,tv
ounn TO protect; but abe even postpones
lem in the pap naanE Of their Wafrarfs to | 4
lnloE creditors, Guch no the State hnn ra- | n
snsly became Indebted to, deeminn s,nch 4
atILlea nn more 4nyoc and Consideration
- those Of older date, who had been in
ugeQ 70 take the obligation of the Seate h
naer the vain pretenst,n az it now seems. | q