Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1879-04-17

: remember, that was relied upol
by the case of -, of which
newspaper report was read, tn,
decision by Judge Mcfarland
and the case of Marsh VS.. Ful
ton county, decided by the Su
preme Court of the United
States, and reported in 10 Wal
lace, 676. The facts of that cas-,
show that it has no application
to the case we are now consider
ing. There, the party undertook
to make a contract and to exc
cute a bond in the name of th,
county, who had no authority t.
do so, and further, the bond wa.
executed by the Clerk of a BoarC
of Supervisors to differen
company from the one to which
the subscription had been made
and the court holds that the bono
was void ab iaitio and could not
be rendered valid by the subse-
lquent recognition Of the BOARD
of Supervisors.
In reference to the bonds of
the State, the Governor made nc
contract and did not undertake
to make any; this was made by
the Legislature, and the Govern
or, being the keeper of the great
seal of the State, was directed tc
Issue and deliver the bonds of
the State in pursuance of this
contract, when certain things
were done? Who eoulldc. ;a!eeci;;a.,,
f, this matter but the Governor:
The power was expressly con-
ferred upon him then to issue the
bonds when he should be salts
fed that certain conditions had
been complied with, and he did
so decide and delivered the bonds.
Now what is the law of the case
under this state Of facts? ]
have referred in the minority re-
port to the summing up by Judge
Dillon of the decisions of the
Supreme Court ON this point.
Let us glance for a momen at
some Of these cases of a later
date than the one in 10 Wall,
Town of Coloma VS.. Eaves,
Town Of. f.Venice VS.. Murdock, 4
Otto.
These cases, l am authorized
to say, have been recognized as
law in the recent case Of Carri-
gan VS.. Mayor and Aldermen of
Morristown, decided by our Su-
preme Court at its last Knox
willie term, the opinion of the
Court being delivered by Judge
Cooper.
But as / have remarked in the
minority report, the act Of Feb.
| Il, 1852, carries upon its face a
Irefutation of the idea that it was
ever expected that the purchas-
ers of these bonds should be
bound at their peril to inquire
whether these several conditions
had been complied with.
Referring to the railroad
bonds, he said it cannot be con-
| tended for a moment that the
Governor had the power, or that
he undertook to contract with
these railroads. The Legisla-
ture made the contract and or
dered the bonds to be issued, spec
flying the amount to each rail-
road, and the provisions to be
complied with, and the Execu-
tive officer was simply a minis
terial agent, possessing only the
power necessarily devolving up
on him to determine when these
facts had been complied with,
and then, not as a matter of con-
tract, not in the exercise Of any
power inherent in himself, but
simply as an agent to execute
the contract made by the Legis-
lature. / say that is a position
which is unassailable. The in
genuity of logic cannot get "a
round it.
just to show how precisely
that case runs with this, i will
say that at that time it was the
great and absorbing question of
the day. The Legislatures were
not responsible, but the people.
The object was to get money and
build these railroads, and to get
it at once, and it was well known
that it could not be raised in
this State; everybody knew you
would have to invite foreign cap
ital. Is it not manifest that the
Legislature would have stultified
itself if, when it had exercised
the power to issue bonds of the
State for the purposes mentioned,
attached conditions to their sale
which would have absolutely de-
stroyed their market value? Is
not that argument irresistible?
Do you suppose a set Of men,
competent to pass a law provid-
ing for the issuance Of bonds
which would have to be sold in
the markets of the world, would
have placed conditions upon
them rendering them unstable?
He read them from section 18,
act 1S51-52. That section comes
like a breeze that sweeps the val
L. o,,J I,Ho 4I,o foor T< cho1xc