The Continental Monthly, Vol. 4, No. 2, August, 1863: Devoted to Literature and National PolicyVarious
History
The Continental Monthly, Vol. 4, No. 2, August, 1863: Devoted to Literature and National Policy
Various
Literature, Modern -- 19th century -- Periodicals; United States -- Politics and government -- 19th century -- Periodicals
Mr. Howard, the distinguished State reporter, gives, in the heading of
the case, the following as the decision of the court. 'The act
supplemental to the charter of the Union Bank, being in aid of the
charter, and changing the same only in some of the mere details, is a
constitutional act.'
Surely this decision should have settled the question. But it did not.
The Governor, A. G. McNutt, who had signed the laws authorizing these
bonds, and the bonds themselves, anticipating the decision of the court
(as he indicates in his message) in favor of 'the holders of certain
bonds heretofore issued to the Planters' and Union Bank,' recommends the
Legislature, in his message of January, 1842, to create a 'revenue
court,' the judge of which shall be appointed 'by the Executive or
Legislature,' to which such cases should be transferred. (Sen. Jour. p.
22.) Thus the case, on the bonds, was to be taken from the high tribunal
(where it was then pending) created by the Constitution, and chosen by
the people, and transferred to a revenue judge to be appointed by the
repudiating Governor and Legislature of 1842, of course a mere executive
parasite, or legislative minion, placed on the bench to repudiate the
bonds. Fortunately, such an appointment was forbidden expressly by the
Constitution, and would have been disregarded by the court; so this
attempted usurpation failed.
The Governor says in that message:
'It never was intended by the framers of the Constitution, that
every public creditor should be permitted to harass the State
at pleasure by vexatious suits. Neither the judgment of a court
nor the decree of the Chancellor _can be obligatory on the
Legislature_,' &c. (P. 17.)
Public-domain text, read in full here on John Shaqi.
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