Newspapers / Highland Messenger (Asheville, N.C.) / Feb. 3, 1843, edition 1 / Page 1
Part of Highland Messenger (Asheville, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
rBWV' irfuOV VlVf,-,,s1 , f5!SV!W" !57rL !!RGysr-! ST" .. . . 1 '4 ....,( KMiliaj 'Vetr38 .Vil'l "TT .in,, ' w!l P m!i iii.ki-I:i Trt;ii A' r4,tt t M!fi ' '"' " 'V '; ' . : ' ; ,("' .' ' 1 - 1 " - ..- ' ' 1 mS&SOSSSSt " "7, ,., jmii u'J Jim rni IITIVUMBER 2a WHOLE NUMB EH 132. , , ..i-.i 11 :r i : :; i.J .i. ' tuni a n't vtl ,ul 'i ' ' ' .iiifiini 7' n u i ij ii .i i ! r u w l i i iiiumi n i nui ... 111ir? o-v i , m r .vv .1 : w 1 1 in at- , , m ii:ii i . 1 1 t - u 1 ia r v . on - f 1. sk BY J. IL CHRISTY & CO . If TV it twiner rlvneTwo DoltaM Fiflr CmI In for Hie tint, nd W9iy-r anu mtMii coailnuanoa. Court Orden will l charged HIGHLAND MESSENGER! We stilt remember r frleaA. Win Cor, birVMsr KmriRiin, w. u., ruae w i&kb jourf nper fiw tb offic. Amount bf Ifli uoj. wi. cost jQnxsDjn nix or ielief We eonfM ktivv notttarnined this ,1m in all W poii.;! bg, nr tven etd all Ihta Mr. Johnm' haaubjeel, but merely read allno poa Mraulvea of !b jenei'ul outline J uB rem wliat we du know jire frM to eoo(c I llial if it b8 exflrplwnHbla w do out e thereio. . VV iinveK, Dot up lo ; tliU imov Wd one sinlo argumcM either pro ireon Vnihaubiecl!we hatw aeon thaexprftaioil if to opioioo on tlwfwrha of irM onsef t Wi by ibe pnpart or tbuircorrespurtdeixa 'consequently, wUnt have to sky is for reva Qfcn, and oa our own 4-aaponsi' iility.T; "t. ; :i ,m.:' , We, believe the plan to be o good One, 'aaj 'etjieciaily colled for thne.m (lathe firat place, amtty of the 8 ilea arc .onrwbelmed with debta which tliey will be tumble ta pay for many yenre taume, if 'stall. The public credit hna auflered at fome and abroad,, and tho whole jUnion will ba disgraced and: dishonored if this .stale of lliiuga be u flared to cotrtiouo. Other naliona will out aake any distinotiuB Ween the solve ot and the inaolvvnt State and tba very name of America will be c jrtred evitia one common sltuine. " lo i thirf jstata of lhinja, k eeom to is impoHsibltt f.w lb country oapeaialiy where llv d bia Jiaag Bjuathcavily-Mo improv in any roi iipte i An attempt to pay the dVbt must be aMd by direct taxatkM by the Stutea in iTolaad, whick wamjd atonce eaoaetdfpr. ciiaiuuef property, a atagoation of buainaMi; tod a ruiuoua enaigratiuo to other part- iba Union t end the poliilcaiafluira of the' co.oiry( together with' ita ,rnrala,i wu4l iotvitably go from bod to worvit3 orrw fit remedy weralound forthoeviia fh pantos n Mou mm'i Tbe plan of relief f reposed by JUn ion propoacalo isiHie by the tienoral Oo vernment two hundd rfliilioea'bf aKcfc, based upori'tRe puUic feadvand divided aowDg the didereat State In prwportiiHf1 ibeir representation, in CtingriasJ" ' Tb euat thus divided would not be uflkteiw to Beet li publtodebt, J, ioirra of Hie Suuea. but would ndord auch kelp thtK in aH aei, by proper leglslatioo, the debt Could fui Nowr let v (or a moment e The puhlie landa amount, w believe, lo ixteeB bund red ,Billiitta pt aorea ctttimaied U bo worth two thousand milliooa ol dollar. These looda, witboot idiubt. kng to the States aad are beld by too Fdwo Giivernment only aa truatee fir the everal Sutea of the Union, and f which ecb, State ia entitled to Ua ' proportiorinte liv. Hw - tliia iotet -property euolt 4 upplted, h ai weya been a mare ,ueatior uf expediency and we know of nopniliihrtiiiu m the constitution ogaiwit any , a ppn .prr. "V f it w which llit Siatea by their ,'ro per reprea native; in Conareas shell deter. nttoa aa ionxaait u Xwntetr own HwetbetK U an immenae Joint propwty L!!liiJfi itemaioafce aay vi ibcSttftm o u iusolvent fa aa abeard ws for an Jndi. ufil meinbflr of any firm M be inolvein7 when the firm iteelf iarich. But tHejiH(. ln ia, How cawt'thik jproperty, , W made available 1 7The property itself cannot be divided amonglbe States, and t he-proceed i the annual sales under the present press. re anHHintoompjjyy loatrlfltf. Twn wny aoi tnke Mr. Johnson's -pbrn-Mirente tt hundred millions of dohW in stock i be nnI aa iotrrvst of from 2 to4 per Ct nT dlsiribute tnis among the States in tin: "oef oserl t - Thcn ,1 of pub, to kinds could ho oiuwl i nsv effthe lute. rest If Dot enough , ihe bulanee oould 50,06 out of the general Tevenue if mor: WBaaxtoeH.thai eiiroJiia could ho used as a I uiug lund oa tin TiainaL This in our 1 - . 1 umation.would not be an assumption of the debtaof the States by lhe Federal Govern mint , bof ai apptiouriod of ceromo pr, party tan n'givoa object, while wa supposo nond wilt Uv a rnoracrit 'doubt but? that' the public lends will ultimately py the debt and interest.- ,W win h mr emission of pane curwncy , but 4he stock issued and lnreat paid on it rcgulurly as on other atoek,i and in no way w.iU tend far,tfi BugmcnUha currency an event scemlncly much dread Sd" by ' a nor'tfon "o( "our politicot partiW political partisan leaders. '' Viei(i,'! y4 - !!!' In the, whole i 'J "ijj :.-) . i - s ; I unconstitutionijl jiKithing unlust nothing imnrantcHbi,. nothing inexpedient, . - In those Slates (ourf ff r example) whera there is no public ,ebt, the stook could be used for' educaiionql , pr.intcrnolknproyemeqt purposps. or whatovor.eJsQ the wisdana ,of twIvgislatlye department Piigfyt aee ,pro' er ti npjly it. A present, we regard it as one of tlio rnoaj I wholesomo projects,, which ma for years been set on foot in ourountr v nd have no doubt but that it will very soon become, a lubjwt of Ax-a ad abiding into. rerft lo-lhe wholw Americas peoto.' Jf,o is the caan, somu-hn Stales have involv ed tlieiMSi lfea luHtleysljrio . the tjiies. lion ,mong vhould-adt JbOyijHuw was it d.oo ' vYhu pasty did it ?. dd., i but How relley Ho he revered f ulVraro-oll intii restod4-die sulijoel ishnold ibo before stjiptiif alt party wmuio'iriivioas and Tjwrty influunee, and tamloed io sttis hearings fo1be gMd of tbo-wlioloi ; Naiultihaii holding the bonds of be Stntes w-aulc "dty exehungo? hem- lor u(th stoelr s litis credit waiild.be restored, and with Its return wed-.ainie-'gcneral'pWMnPrity. ;1 Unless aomuthiiig df the kind is doneyt dot-tseem to us thnt tvcrat of the Siilc wust sink ander the weight of thfir Iwnvv doht. To repudiute is dishonorable nhd disgrucoCut- to pny;ii to im Uio Miopia ao lienvity n ro blight all iHipe of -prsperiiy,nnd what is to bti donot. sA butter pluo thnn 'ibis may be devised tb i tatay te.'radicAlly dvfettive; for ourilves; until wafind abetter, or fi the defects' of Uiis, if any there be, we shall givti it cur hearty ftpprobBtiwnt with- tut wniting in we who will approve, or wtK oppose it. T Woare in no psrry trWs, "but ihink and speuk for 6uistlves in biher itist-ters-o wb slmtt tWa ?c iu i! ' ? ' ..'!., dir saaaaassaaaaaasat Mr -"i' j rjk'ii i .fram Uis mods lleraio.j - U ,-rT 'v ' Bait?'- ( CharttitBs JwcU. a toimr bet sihaelaied ktTd wild looking lirl.-in wluw lliiaH4wa asnnWN' nanes llnre could ynt tx drteoud ttw traaes of bwatfi ws eharged vwnerday fkanmg'Vf see William Conde (ron pUw Orloam, wtlk kvin attempted la taka his Ufa. Con do had only, been ia tile eiiy a fcwaaya, and it appear that W had 1 oduaed tits, jfarl, ia the lawn uf fisros Sorn, La. and aluvwards sloped with her to New Uncap. where he lived with her ae hts muArese, an Biwl-'j y stittirtdor.hU vierim,1u4 srted haod ta ordor to rid h'me)f of her importunities.had come t HfubitB.'' -The prtficr treeeit him M this etty, found uulbis boerdisj aipiHaH aUwat, and on Thorndy even ins; whilst thje familv were atewppsv atlempted hht ' hfo Wftlr a Spnninh dirt kmfd.. ,Ua nemos U) Mow ana srawain wmam he went off into hyetw in .wjtoo ha was taken ttfthe-Gwd HcMr Tas aoBinlatmint aaviug depesad as ate;'Mid he would decline pnweculinf ker Jf alia would fo be nil home to Bnyou Sara. rriaone. i I nave no Boms or people u go lo, William i through your , mean my poop' are liBined of me. and nave diaowned me and turn. cd me oat ef doore, and I would rither di of hun. nr peri.h in some kit tbsq return p tSrn7triMrrhe 1 lie sireei ane ine. icnnvi htw imw jiwiiw, andmywiipenionS. thSvlleat of the vile. Sines yon inhumanly Oeaerico m,7.'i (;. ,( . . Unndo. " w ny you are crazy t Prisoner. No, William, I am- hot eraxy thourli the srrat God above kaowe that I .have suffered and borne enough to make tne so. If ueeuktion and misery be erairTreaS, I am orazy ; if utlrr rem, onaelesness and atarvatioa os snea nemi, I am mad ; but not otherwise. Oh ! would te Hsaveathat I wastttnd.that inmadneeel might forirrteveri Ibinst , Oh i William, William, to tftink lHut yes of aH, the world ahould bava de. eiesed- in. ft think sua vsa premised so roach, and whins J looked upon eUoost as a augclr whout I prayed for night and morn, alas I I can not dra new.eboald have ere ted as parAdioasly hi enough' to drive ma mod, wilheatyeor tatraU and senrna." ;. . . Coado. 1 Tow ought in be ashamed of your- Mr In txikSi this weV. ChnrUitta." i 'fiSffler. No, W illlnin, I save got svra as. voad shme. " It high time tegtvs over being aahkincd -of mvttlf whs! aU Wra sbamad .of Blt VVtlliamfmy --Bean etmnennee to orras I ihtnttnf ho haimf t Was bht two vrars age, whea J wisvsausidsad yon seed is erwne and nit the I'Wtff com mgiiw or enj uuwri fire sidr,' and 1e mu' how happy we sljould be, when. I was your wit. 1 am sauy cnangeu now, and ih leara which eourjc diw mt checka are scalding-myeytbails with their fire. Irememher wnea 1 emus evoe naw an mi mnn i bow different were tliry from theac." Thi'plaitniff refusing To swear, the case was slisrged, but Mm prteonet dalained, ta order to see If rointlhing enuld not Be done ior nei. Alas enor UBanotJr I Hie necuc on my cnc: told too plainly that all human earing fur toeo op en Ibis 6nUt earth will soon cease, and that thy Mlinff dIhcs will be a Iwunct'a nuvo. Never Slues uui waits hi the rutBiB uBieerhavs such a herrowins; and heert rending scene as tbe !'' " en...irHt ii. diMn rihp. and which w are mre drew tenia from ever honest heart in the room. The plaintiff. Conde, through out the trial, preserved tile moot narSuned and un. altered demeanor, attd aertned elected ari.t the Danira of eonacienoet but if he dors not so down In tlic ifreve aa wretched end a despised ncountlrel, thenTieven hahsTuihioltoo.lUiifUl pterojra- live, and eternal vengenee aleepe in aa Beep klheragy as does does human justice. Speech of MsvFrancis, of Haywood, .ON THE REdOLUTiONS RESPECTING . :(THE BANK Off THE 8TATB. uii It'i i'lm (l ) ii K II. ii'mni ll ., , L.f if i'TT . Me. Speaker rwWhen 1 gave way last sveaing lor the motion to adjourn, I thoq rmnurkeii, that it was aur deiiberattt in tea. (ion to bring' the House to a direct vote oo the question now pending, as it was appa real, the dominant party here were ended ming to evnoe 4 nwtKMiae (o the pro post Uon of the Stockholders of the Bank, to ta this. General Assembii. What is that rropoitioTi . Under tba Chartsri of the Dank of the StaM, three fiftliaof the capital ateck ii owned by privuta individuals and the o;.lpr tw ftlihe by tlte Stute, At the General Asauol Meeting held in thin City ea the second instant, the Stockholders re. solved unanimously, " if it ba the pleasure of the General Aasembly of ibe Stale of North Carolina to iastruot the Represents. live f ;tjie Stats in the Ganeral Meeting of the Stockholders of anid Bunk, la propose the adoption pr such measures- as anoy bo neoeasary for olosing tlm susiuesa of said Bank, and dividing trircapi mi stock, ais the feroorieters thereof, at as early a day as ia consistent with the security of the debts end reasonable indulgence to. the debtors. the Bank will concur therein." i. ibe re. saonaa prodoead) to be aiven to this re sol u tioa, is to the foilowirur words Hera My. r runma read ths resolutions ottered ay Mr. Cud. Jones, of Ornnge, heretofore published u tin tWisief. t, Ntwi sir, it fa evident from the wording af these resolutions', intended as a response to the ioturrogutory if the Stockholders, thut the object of I ho framer bl this re. epooei", W.is an evosiotvof the quest ion, end by a studied equivodntion of expression, to iiueavor to avoid the responsibility ot a diK ct otiswer to a simple and plsiin proposi- ifon, addressed to this House in tne most eourreiun litngwigov I have therefore, sir, flffl reo nn 'amendment t the nsoiiuions oi tlm gonrleins 'l frtim Orang-, giving a direct rt'sthmne in tlv !WjiiiWei, to ilia nsolutlon of inqrttry oth.) Ehk holders. My friend from C 4wrru, (Mr.- Bitrringer.) proprwes an aim-ndment to the amendment, contnio inga resjumse in the utRriiiative so that the Deniocrntic purty will now be brouglrt to assume- the responsibility of a direct fotaj upon the question which 'hey hnve, by every species of qubbling and subterfure, studiouidy endt-avOred to avoid - Brforethe qiresiloH w taken, however, notwithstanding this debate ha occupied already mtich lime, must claim the indulgence of the House, whihl t coll the attention of members more pSrticulSrly to the vast imprtnnce of the vote IhCy are nooulto eust. ---1 imngine,i"aif: that no quesii jO, sines the foundation of our Grvrhm ntv of as great magtiitudA, of on tlmt a 1 deeply affeota the vits ! rel of the greut mass ot 'the ienrle of this State, hflt at1 any period J been presented for. LegislHtWd "etion. ' No1 one, sit I't-sn omno4ve of the re distress and pecuniary ombsrrsSMmcnt'v.hichwust mevitubly fl. low tront auspt-Hsiort'of the operations nf thw Bank at: this1 time, the eensfquent with drnwal of hs aotes from circulation, and an flbrV to enforce the eotlection of its tkibt, 'iteeemry to the closing the business of thulThslitution;rjW"-'-!TP 'But' we are told, ft t a mere nut ori the psrt'of the Whig Stockholders, tor pofiti- cul effect ; and'we art gravely asked, how llWfWhigVout of doors are -so anxious for windfn un the concern, nd tho Wtilgs In thd House, opposed to H and it is argued, that a Puny wno BUS nereiumre acien in concert, would not thus so far disagree, but from motives of policy, &c. 1 I think Can Bhuwer for mvsclf. and in doitiir so. 1 nrf some I shall answer for each individual of that oartv'.' of which t have the honor' of in the Batik; fts wetf as the Deinocrats, for I see ilieiii resolution is unanimous; find that under the' present pressure, and from the Courari pursued by the dominant party in this House' towards the' Banks In this Slate, they can, by getting the lmmediute Cohtruf of rtieif enpitnl, use it much more profitably, than to jut it remain in an insti tutiorf, Bgilnst thL credit of wluch nil thp force of popular prejudice ana party 'Hiig is Sought to Ttf'-nroOTexT'eud tli reeled : Whereas the Whig party in this House, disregarding any personal interest they may have in tlie matter tror 1 unoerswna some oflhem are slockholdora,) and looking with au.vesimils to tbu grttnl conoervstivs io- teresisot the constituents, unrtooiy resisi any attnTfpt W check Ihe circulation of lw issues oi me pwh vi kw"..; ...w.. fulaaW-BW---a.,rV wlikh will inevitublv follow any at. tewptsrhKl e4hiscencem M crisis.' But we are told H is all mere bra- tadcl-k threat on the part of ibe Bank, nwule to awe the Democratic party in Ihm H... tlint 1 hit Uunk nas no oesiRn in- rianirof closinjinc nlfnirs and surrender- inirthu Charter; but I auk members not to In. dmwived bv such soccM his declamation I perci-ive thut ihw resolution was jmssea bv ihuiMiiimiWi!iiieof th S'ocktiolders I hive some jiersouul Brquaiutance with ..ninu nf iIih in-ntli incn who cumposo that bi.dy, niH tin r- thr- hbllv incapaJ bis f any such conduct as llwt stiriWMea in limn ui ...,,,.,-... r...v M..mbers wou Id do well to guard against hpiriof entranned bv such sophistry. I call ussur- tlie House, that these Stockholders iniend what they propose, that they have wi ighed well the consequences 01 tneiracy nd 1 hat the members of tliis House will if they vote for tbe amendment of my friend froni Cabarrus,' realize, when tWlatevth bitter consequences af permitting parht pre. l.itiAa t.. : . ludjces to warn their, bettor judgment- . It may not be amiss, sir, to enquire into the causes which led to this course, oa tba part 01 iqe Qtocknoldcrs. And bare I must ask ibo attcntioo of the House, whila I exsmioa few, of a large pile of bills for tbe better regulation of Banks, that has accumulated on our tables during the present session. Here Mr. Bragg, of Northampton, rose 10 a point of order. He conceived the gen tleinun from Haywood was out af order in reading or discussing the merits of any bill not now before the House Mr. Francis explained; he pad already notified gentle, men, that he was about to point out to tbe House what he believed to be tha causes which led to the aciiun of the Stockholders of tbe Bank, in answer to which the resolu Uons now under consideration were intend, edj'. ond contended that he had tho right 10 read nny"bi'l,seclioo,or phragruph, which in his judgment may tend lo effect that oh- jept. The Speaker, decided tbe gentleman (rom Haywood in so dojiigi was iq erder. I I hope Ihga. saH MrA, Fraricjse gentle, roan, from Northampton, will be contented, and not appear quite aa -captious, while I bring lo the notice f the House, tin: reite rated clamor end miserable char jr. s trump ad up against the Banks of the State, by that, party, of which the gonileman from (Nortliamntooja a prominent member. if rom tne mountains to tbe seaboard, during the canvass of last , summer, every stump orator of that gentleman's party, were de crying the Banks as corrupt swindlers, shaviog shops, ihe (actors of shin. plasters, and such like euphineou appellations, from the Democratic nomenclature ; endeavoring to excite popular prejudice against these institutions by pandering tOxevsry baser passion of the humun heart, and by uttri. pining to Uie tiiynks all the pecuniary em. barrussments which like a Sirocco hnsswpl ov?r this vast coniinent, carryiog ruin and oVsoluiioQ in its train. But, sir, not con trot with vilifying sod slandering theso in stitutions from the hustings during the sum mer campaign, tbey hnve followed -ip the crusnde, even in this Hall, by endeavoring to redeem pledges made but. ta be broken, by reforming what they term the abuses of Banking orivileces. How do thev nrooose sp -. rir to reform them 1 . I will . read to you the plan from a series of resolutions, laid upon our tsblts some dayssince, which discloses lite whole secret of tho mode of reforma tion; they have a high sounding title, and exhibit a rare specimen of classic taste and legal precision a combination seldom in- troduct'd pinto . .legislative proceedings. Huro Mr. Francis read , a set of ieilu. tions, for the better regulation of the Bunks of ibis Stale, . , ,r - . ... ;i Such, air, is the language used towards these institutions; and when we say such a course is toolisb and ridiculous, we are designated as Bank Attorneys, B.iuk Ora. lurs, 4iC( Now, sir, the idea of the legis lature sending a. Committee tu the Uauks, to count tha specie, dollar for dollar, must appear lo any reflecting mind absurd in the exireme. Has any iodi vidunl esiimoied the length of time it woulif take to count the amount of specie, as reported, iu the vaults of our Bsoluat this Uroju dijarjiir dollar ss the resolution conlemplJiles X ..Wjiy.sir. suppose it is put up as ia usual in cases containing one thousand dollars each; to count out and return 10 ths boxes six thou. aiiod dollars a day, will be as much lubor as any member uf that Commiltoe would he willing to porform 5 so. tnat to count as dirsclMa by Uiat rusoluHon would ruquiru close npplicati.o fir at kmst three mimiim But, sir, it is out the absurdity uf, Ihe pro position, alone, to which I wish to coil the attention of the House ; but the imputaiion of falsity which it must necessarily css.1 upon the pubUsfiud slatcmeUurroaaa accoTd - r ing to law, to this House by the gentlemen w ho manage , the anutrs of that institution. When a Committee are instructed " to in quire JnU all abuses of the Bonk;' and again, that they shall " personally inspect the books and accounts, fee ;" ii must cre ate a strong suspicion that all is not rilu, nd tlmt Hie statement made by ue ..d.i.ok is false or doubtful. 1 Now, sir, those gen. ilemen who h;v the macugcnicnt ot this insuiuiion are uiiwniiug imui meir tiniiai.. lers should bo thus aasiiilud, their motiven impugfied, their published statements Oil.si. fied, without a hearing, or without evm a shadow of proof, upon which to grouud such foul aspersions, fin sir,tl y aa iimi who have lived long in Ihis worlJ whusft whose reputation is above suspicion and who ploce too high ba estimate on ihe cha racter and motives ol others, to suiter their by members 00. this floor who choose to assail them. ..--- But, sir. the course pursued in this Hall saainsl These" Banks, is calculated lo'eiTcct uut ' iilv the -private' reputation ol those who have iho manugmteiit of lho,instilu. lions' but it has a tendency to injure in no small degree the character of ihe instiiu. lions themselves, particularly , nbroud. When the Banks, and corporMiiuns uf.other States see that tbe Legislature f ' North Cnroljna.ia..DlacaloLloatcirmir1CT Bunks, and affordinz them every lucilny o vvipnrflpg tWr rharnelt-r and credit at home and abroad, has commenatd a ruth less and uncompromising war of exteimi nation against these institutions; when they hear that your tables are groaning under the weitfht of bills, for the better regulation of Bankso prevent, In the luuguuge uf one of tbe resolutions, tne recent apo numerous frauds',, failures, suspensions, thefts and corruptions practised in similar . . . ... I., l .. iraiuuiiviia , . aurciv iretomns nign time that the Banks, and corporations uf other States, should become suspicious of our institutions, and take such immediate steps as is best calculated to secure themselves from the frauds and thefts of institutions so strongly suspected by the Legislature ol their own Slate. Thus you have, by your action in tins, matter, destroyed tne credit uf the pank abroud, aa weU as ot home, and compelled the Stockholders, in justice to themselves, to pursue the course indi cated at their, geiiurul meeting. Another of the bills on your table, makes it penal to cut, perforate with holes, or cement to gether, any bill of any Bank in this State, and prohibits tlie Banks from receiving the notes of the Banks of other States, under a penalty of five hundred dollars, besides subjecting the officers to indictment, and fine and imprisonment, on conviction. If ihey suspend, another bill says It shall work a forfeiture of their chartered privi- legts Another," that In case of suspen- L9!Ll!liey.sta .v..,,j-., v,,,. mm j, emuiner-i ih it th y shall not collect in nv Court of Record, any di-bt, while they remain in a st. .to ol suspensi 111." In short, Mr. Speak, er, It woutd occupy too much time to read even a tithe or the captions of the various bills ori youi tab!.;, teuding either directly or indirectly, to affect the character and standing of these institutions. And, as I remarked the other day, sir, although these oaner denunciations, iu imnaipn mrmiui tlio Banks, are in themselves perfectly ''harm tess. and afihouL'h anv uct missed to alu-r nr amend the charter of the bunks without the consent of the StockholdersV would be by- mo iourts declared unconstitutional k yet such attempts to legislate upon tho matter ut allr will- huve the- same tlfect abroad as if said charges of corruption and misman. iigeineut were true; or as if such additional robtruiuts'were constitutional. But, sir, the gentleman from Chatham (Mr. JaeKso'n) replied to me on yesterday, and referred nm to a decision of the Su. premo Court uf the United States, which I sh:ill presently notico more particularly ; he declared jt, as hfiopinion. that t!: Ie. gislature could not only niter or amend tint charter without the conseiit-.of the Bank, but they could repeal it altogether,! Should mm opinion oe correct, it. would 08 an ad. ditionul reason why the Stockholders should bo desirous of winding up the busiuL'sjt( tho concern andstirrundering their charter, as by the passage of the bills now on vour table, you not only ci ipplo the Banks', but you render them usi'less ultogcilier; a dead wcigltl oil iho hands of tlie Stockholders, who would, no doubt, prefer seeing their capital profitably invested, rather than lying in the. vaults of the Bank, producing no profit whatever. ' I desire, Mr. Speaker, to be distinctly understood on this subject. I have no particular interest in advocating tho Banks on this floor, only so far as they are connected with tlie interests of my con. stituents; and, sir, I think I shall presently show to every rational mind which is unem barrassed by party fooling or prejudice, thut the' interest of these- B inks and my con. Uiuenls-arjuiitiiHely: blu aa4 not only ihe welfare of my constituents, but tlie welfare ot the constituents of every mcmbeFor thfs'H'M'se fil'.lii'a'grenieF.'or less' degree, identified wilh Ihe interest of these iiMtituiions. Before, however, I do ibis, sir, permit me to notice tho remarks of some gentlemen who replied to mo on who introduced the resolutions now under cooskleraiioti, aays that I was mistaken in supposing that the clause in the Bank char- ter permitting the Bank to issue two lor one uf its capital stock, und the additional clauseTrequTilH pnya penalty uf twelve per cent, hi case it suspended specie payments, are fn any wsy calculated to induce the belief that the framcra of this charter ever contemplated a suspension of specie payments : on the contrary, the gen tleman says', that by a suspension the Bank has forfeited its.churlcr, and that the pen. hlty.'of-lwttlvu per cent was only given lo note-holders us un additional security. I runirsn, Mr. KpenkiT, I Mil unable to' per reive either the force or corivctO'. ss of this argument, or tc understand the mode of its iiphiili"0. Thut the L' rsiituro should permit a Bunk to issii's two-paper dollars for ea-i'h siKer dolhir in its vaults, and yet n t contemplate a suspciffion in case a run was made upon it,".U to mo incomprehensi. blf, Not less so. however; than iho oilier brunch of the gtitleman'snmposiiion, namely, that thi.should. presiriribe in the charter a certain penalty in case of suspon-siirop-iiiclrjrconiparuivtlynufiii yet intend, without so expressing it, that the hii;he8t penalty known to the low should be superadded. Surely, sir, the election ef tho gentleman front Orufl;e r.s Solicitor. must liuve given lour nn niurdinate tiurt for the lilelilood of this corporation. I know, sirhul. jt is usuul tii supposo titui S dicitors are prejudiced against offenders, but it is not customary foe them to condemn without a hearing, and still less so, to de clare the life of un individual forfeited for f: very little petty misdemeanor: a forfeiture of the charter destroys the very existence nnrl 11 Iho niphnal p-nnHy th -nn hA flicted on an incorporate company, and yet we are tolilj that the suspension of specie payments by the Banks, although the law declares the punishment lo be twelve per cent, from "the time of demnnd, works a forfeiture of the chartered privileges. Bui, air, prepoaiarous as this proposition must appear, it cannot bs mors so than the other" advanced by that gentleman, that the twelve" per cent, was given as no additional security to the note-holder. Surely the note-holder may bo well pleased with tha gentleman's construction of that clause of tha charier, for although tho Bank should fail and bo unable to pay one per cent, on tho amount of its notes In circulation, yet the holder of its notes 4s safe at all events ; he ia sure to receive at least twelve cente 06 the dollar, os the gentleman says this clause acts bs additional or collateral security for that amount in any contingency. ? The gentleman from Chatham (Mr. Jack son) gives a similar construction to the Constitutional question raised in this debate. He says the Legislature has a right tit any time to declare the charter forfeited, or to amend or repoal it. The gentleman refers mo to a celebrated case decided some years ago in the Supreme Court of the U. Slates, known as the Dartmouth College case, and there, heranytyi' will find that Chief Juf. tice Marshall so decided the law to be. Iam sorry. Mr. Snesher. to hear ths centtemau cite such authority in suppprt of a proposi- UoflTncToDlyeiTfar nint to the fii-st prineipl :iplcs of common sense. The mind of tint sreat man. sir. was an. circled by a halo of intellectual strength which would reflect honor on the science of the law in any country, or fn any age that his ashes should be di.iiu.-bcd, and bis well deserved fame as a Jurist, should, at this lale day, bo thus traduced Tor party purposes, ia beyond nH endurance, j must believe, Mr. Speaker, that tho gentleman from Chatham, read over the opinion nl. luded to, In a very careless manner., lor certainly ho could have selected no case perhaps, which more clearly and furciblf . maintains the position which I assumed, than that to which he has called my ntten- tion. I cannot perceive, sir- how the gerC " Human could have fallen into so egregious an error, unless he did so by not attending lo the distinction drawn between civil and private corporations. It is there snid, that in respect to public corporations which exist on'y fur public pnrnoses, such as towns and cities", &c.,;tlie Legislature may, under proper limitations change, modify, enlarge or restrain them. But it is expressly de. nieu iiiai i; m pcr to -pes!, u!:cr, c: amend statutes, creating privato corpora, lions, among which are enumerated J3anks, whose stock in wholo or In part is owned by individuals; a charter of this kind is s lid to be a contract which cannot be alter, ed without the consent of both parties. Ia short, does not every alteration of a con. trucftowever unimportant, even though it bo for thajnterest of the party objecting to it, Impair ils obligation? If the assent of all the parties to be bound by a contract be of its essence, how j it possible that a new contract substituted folsjr engrafted on an. other, without such assent,, sboul J not vio. late the old charter. The case of the King v. Possmore,J T. R. 246, is referred to, where Lard Kepyori says, " that an ixistng corporation cannot have another chatter obtruded upon it by the crown. It may reject it or accept tho whole or nny part of the new-charter. Tlio reason Hs obvlousf a charter is a contract, to the validitv of ' LwbicbrUaxori8rlofr.boifcpn esicrj." ' uai, nna morerore it cannot be altered or added to, Without such consent." In focf, Mrr Speakorthe base of the iDartmoutu A College is one of the atrongest coses ia point; a charter was granted bv ihe British crown, before the Revolution, to that Col lege in 176D; nfterwards by an Act of tha Legislature of New.Hnmwhlre;that Char. " ter wns sought to be altered, but ihe So. preme Court of the United States declared that, that act of tho Legislature of New., ....uysiuig wim in vioiution 01 tne uonsti. lution of tho United States, which, declares t bat-fw Si ahsrrattTTTO korrHnT1rrffiutmur the obligation of contracts t Art. 1 1 Sec: 10. Tho gentleman from Cumberland, has also thought fit to muke me bis debtor ou this Uank quesiion, and in commenting on my remarks, he is pleased to say, tho gttnr tleman from Haywood is in tho habit pf" playing off on small matters,-from infant sarcasm up to fun grown witticism. . To - this chargo, Mr. Speaker, I must plead guilty in part ; It is true, sir, I have been nThelia'b'n oT sffrnetlmerflUTlctneThS arctl inents of tlie gentleman from Cumberland , and in doing so, 1 must confess I was play, ing with rather small fry. f But. sir'. I shall endeavor to atone for the crrr in future The little gentleman from Rocklnglmm, (Mr. Scales,) Ins been also shooting his iliauii me, mu ,1 r.nn assure that gen- tlemsn his metnl is weighed in rather light 'k'l f '.??"! WJply,Qtt this occosion-. The lost, though not least, of rkm, is tlio gciitlcmao from Granville, ( Mr. ' Kusiell.) Ho thinks I am a foreigner and perhaps pot nntiir.l-zod, ifcc. I can inform tho gcntlemm, thnt it is true I was born ontiieppmita side of ihe Arfantic rtierff is, however, this difference between thut gentleman and myself, I nin a Republican by choice, he is one by mere cljoncc ; and I have no doubt, sir, had he been educated as I have been, ho would be still a monarch. ' 1st ; and from his exalted aspiration here, I presume had ho been born in England, Prince Albert would now be conning over die diilit-s of It rfcJcicSed lover, whiTe, my friiuid. from Granville would no donfit hn basking in tho smiles of Britain's maiden Queen. The gentleman from Ashe, (Mr.' Bower,) I ought not to forget while I am paying off my Bank debts. Tistrue, Mr. Speaker, he took no part in the debate, except that he informs us he l keepings private journal of the number of si ches, 1 t 1 -- )
Highland Messenger (Asheville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 3, 1843, edition 1
1
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75