The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1876-02-23

acceptance of an persons alike. Inc
-, amino ouestton to be determined Is
whether tie particular instance OF eAen
ton licfr Is irrrpet!anle, anu IiiiC uSPends
ui.on the construction given Dy the Su-
pTeme Co art of the United states, she final
Judge of that construction TO the provision
Of the Constitution of the United States de-
claring that no State shall pass any
law impairing the obligation of contracts.
II is the settled doctrine OF that court
that a clause i'm the charter of corporation
exempting it from taxation is contract
in those cases where the corporation is or
yanized and stock subscribed or capital adj
vanced on the faith OF the charter. The
doctrine of that court extends TO all grants
by the Legislature the purpose of which is
to invite persons to combine to advance
money to carry on an enterprise deemed OF
public importance. AMI plainly embraces the
case OF an existing corporation or association
induced to extend or enlarge its operation,
as in the case of railroad company, TO eX-
tend its liens of railways or q manufacture
ing company, to erect buildings and intro
duce machinery for particular kinds of man
ufacture.
The act of 1872, page 65. entitled, San act
to encourage the introduction of machin-
cry, and the establishment of factories in
the State of Mississippi" is a proposal TO
confer a bounty or to exempt from taxa
tion-and it matters not which-and as to
ali companies or associations, whether In
corporated or not. which accept the propo-
sal and on its faith Introduce the machinery
and establish the factories. it becomes ire
vocable by the Legislature.
1t may repeal the act so that no other
company or companies hereafter formed,
may avail il or themselves of the act, bat 1t
cannot be repealed as to those which have
accepted and acted upon it. This act was
by an amendment OF the charter or "Ihe
Mississippi Mills" passed in 1873, (Acts.
page 2l2) made part of the charter of that
company, under these circumstances The
factories of the company were accidentally
destroyed by fire; TO induce the company
the benefits proposed by the act of 1872
were Offered and accepted by the WessOn
Mills, and acted on, and the company are as
clearly entitled to the protection of the Con-
stitutioual provision as il it had organized
and acted on the acs oflS72
The Legislature is the judge of the sufi-
cheney at the consideration moving to the
State. The act of 1872 reeites the induce
ments which influenced the Legislature.
and they are sufficient. The inducements
which the construction of railways offer to
the State are not greater. Before the war the
guinness of manufacturing had begun to
make progress; foundries, cotton factories.
machine shops for manufacturing farming
i'm plements. began to appear. One of the
great needs of the State was felt to be the null
tipiying and diversfying of the industries of
the State. Unfortunately these enterprises
were stiiled by the civil war. The Federal
forces invariably destroyed the workshops
and factories. In the impoverished condi-
ton of the people of the State, the Legisla-
ture deemed it wise to invite capital to
come into the state in the form OF ma
chinery and in the establishment of factories
and workshops; and the invitation having
been accepted, il would be plain breach OF
faith to revoke it after having secured the
factories.
ANY act of repeal therefore would come
under the influence of the Constitution Of
the United states, and could be successfully
resisted by the companies which have ac-
copied the provisions OF the act Of 1872.
w. II. HARRIS.
son January