The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1901-06-21
PLANTERS BANK BONDS AND UNION
BANK BONDS.
ON THE WING, June 20, 1901.

ON THE WING, June 20, 1901.
Editor Democrat. Star.
l am glad to know that the Pasca-
g0ula DEMOCRAT-STAR is still in ex-
istencc, and growing steadily in pop.
ular favor. 1t has some peculiar
tiles" that are admirable-it Is frank
and independent, yet liberal and just,
and generally found On the right side
Of every moral question. 1t is one OF
the oldest papers in the State, and it is
hoped will continue to improve in
every respect.
No doubt you have read the very
able letter OF Mr.. Fisk. President Of
the Illinois Central Railroad, to
Chancellor Fulton of the State
University at Oxford, and no doubt
you noted what he had to say about
the reputation OF the Mississippi
Union Bank bonds. Many people con-
cur with him in the opinion that
these bonds ought to be paid. But
the Constitutional Convention held In
November, 1890 adopted in the pres
ent constitution section 25S, which
forbid the payment Of both Planters
Bank bonds and Union Bank bonds.
When the question Of repudiating the
Union Bank bonds was started by
Gov. McNutt no one had the temerity
to question the validity OF the Plan
ter's bank Bonds, but after the lapse
OF years, and it had become palpable
that reputation was not at all un-
popular, then the legislature, to suit
the question about the Planters Bank
bonds, passed an act submitting to
the people the question whether they
were willing to be taxed to pay these
bonds. or course they voted that they
were not willing to be taxed, and as
so the question rested, but, in 1890
the Constitutional Convention, as
above stated, enacted u section that
the State should not pay either the
Union Bank or Planters bank bonds.
Heron A. johnson in May, 1852
fled his suit against the State of
Mississippi In the Superior Court of
Chancery at Jackson, to recover the
amount OF principal and interest due
on a Union Bank bond for 1900. d.
c. Glenn, Attorney General and W.
+. Sternes were for the State and
Adams & Dixon Tor Johnson. The
Chancellor decreed for the complain,
ant and the State appealed. The de
cision OF the Chancellor was affirmed
by the High Court Of Errors and AID
peals. Judge c. P. Smith delivered
the opinion Of the court, which con
, sisted Of G. p. Smith, VIM. Yergel
, and Elias S. Fisher. Petition for re
, arguments were made by Il. J., Whar-
, ton and Daniel Mayes, but denied
So the decision Of the Superior Cour'
7 OF Chancery and the High Court o.
Errors and Appeals, rendered by thu
3 offices elected by the people OF Missis
sippi, held that the Union Bank bonds
y were legally issued and sold and tina,
, the State was liable for their pay
, ment, yet they have never been paid
Z Those who desire to examine the cast
can find a report Of IL in the 25th vol
3 of Mississippi Reports, page 625
. What will be done about it-who car
+ tell?
a There is a great deal being sale
/ about good roads. Well, everybody i,
r In favor OF having good roads, but il
s will be a long, long time before Mis-
{ sissippi will have them. There neve,
will be good roads throughout tin
State until the present system o
!. working the roads Is changed and tn,
people taxed to have them properl.
/. worked, which no legislature OF tn,
s State will never dare to do it. Henc,
g we will never have them. Some of tn,
papers arc favoring the repairing o
j, the old capitol building and making
:. depository for the products Of TIL
State" Who Is to take charge OF |
when so finished, and run IL" us |
;. were? Are all the products OF tli
t State to be put in there, and 70
e what are they to be put In there
! Will 1t be a kind OF peanut and watel
melon depot, or a vastbarn to shelte
grain, hay, etc? Also live stock, a
they are also '%products?" 1t is to
y funny to think how a few years az
s we must have a new State House t
y cost a million OF dollars, and now it
claimed by some OF those very me
that a small expenditure would max
II last several years yet and be ust
full. But there is nothing like stil
ring up the people and not let ther
70 rest when Il newspaper nan wishes t
% create a sensation. X. X.r
A INDUSTRIOUS DOCTRINE.
t. Senator Bacon Of Georgia, expresse
q 1