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Marshall County Republican. (Holly Springs, Miss.) 1839-18??, August 31, 1839, Image 2

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn87065199/1839-08-31/ed-1/seq-2/

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on their acceptance?, and at the average 1 its CmI
loie iuciuaing interest, exchange and crr
missions, of abcut twenty per" cent. Ti.j
policy was destructive to the planter ana
merchart, and eventually ruined the tanks.
Under these circumstances Gov. .McNutt was
willing to aid in chartering a propertv back,
to be placed under the control of planters
and managed for their beneSt he however
objected to pledging the faith of the state for
banking purposes, and warned the country
against the dangers of a great multiplication
of banks in the state, lie canvassed over
the whole district, and his principles were
well known, and in many respects differed
widelv from tKrvco u! r;-. ay
j - - ...wiu lliv lI3ilH.U V J tin
occasions he avowed the doctrine that it was
the duty of a member to represent truly h's
cons ituents unless bv so doing' he would, in
Bfjsur? tvt etnt r that T3t ar
' Ik"! t a driyoent. S J--trsl c-is
D"r p? t lie tare-? s .
legWattr he m ia rrs.-tst rsrrrrwaf
with tie eth'or vf the Yi-k.bcrr Regi-r
Hi fetters were pcblrsred wttics t . .
wui t-r:i t.-, : r vt k
system cf ?H S?e that te warded i
fie tf tie irreparable Ti!s t c-hi ir.:.e? e
them 'Ml e asri.iNd ile tr. : ? e
di?cisetr;r ai-f, cr ktil- Vaw a w;;ic fs,cs
in r.acd f r -sie-?ascy to- rret lie";, t fe m
i?ed wish owimte frefts, asi. s.S;t '
t'.-rsr. Bvt to 'raacecd ?er tsre-. e ta
ilea ty tte jil!2re. Hi missewm .
ed ar.h-f:; ard tie ct-rseesesc !.
he bankr;-..i.-T .f the rswtsrr ard tie r ..
At tl: eloe tf fie wws, ia Mae. 127. G.je.
MeNett wis irc-'t cit hT tie Air;-is.sk rartt a
i candidi-e f.r Chif .Vij;t:7ie cf tie :at.
lie fcad fceea ia ;-Bi,w lit? lem thus two y etra.
Li legislative coors kr.
He hid Sfj teen a Sileri rzeaiier. He forth
with ec:ered the ca- si traierJ
cti a per!i4 ia ?Lrtj--;it cf t.Le it?
ix couQtie cf tie 5cite. Ke dfvesel tie
at I? exiii- Haiir; sten ia rverr rrc-3
he cv R.-!vl cooecf Lts priacic a4 tii-dcste-i
Li- ever? ia ti JeItar.
his opinion, 'violate the constitution, or be
guilty of an act of moral turpitude.
Thi has always been considered soar. J
demxrrat;c loctriae. T he w hir towever
pro.'e-s and act upn different princlp'es
The IcgL-lature had nit m t m 1531. and
in 18o5 was broken i,p by the wLig-i of ihe
Senate, because the representativrs from the
Cl.HCtnw counties h.- d been ad - ittd totske
their seats during th;ve tv. years, tlte vth-
er States of the Union had chanerrd raacv
banks, and when our Legis'.ature met in Jan
uary, 163t3 numerous petions were pre
sented for bank charters. The first bill ia
troduced in the Senate was for the charter
of the Brandon bank.
under ihe pretext that the company tjtd(
construct a Hail Ko-d from Jackson to
bile. W hen this bid was under cl--cusin 1 v
Gov. ?dcNuit tojk occasion to point oti th 0
dei'ect-i in the banking stem, ai d predie'ed iMK
trie ruin wh ch woa'd ensue from p.n uodjc
expansion of our circulation. He w is si.s-
I tained in his opposition to that Uil by only
one fcena'or.
The next bill ihat came up was to char
ter tiie Commercial Bank of Natchez tais
bill met with his most strenuous op:ositiun
I and aain he was sustained by but a single
i' Senator. About that pen Judg"? Poii.ev,
f I who had been a c andidate at the
t"r i tlrl&m bxxiizz I r. M. ' r
Ia ta? fall c-f 1?S7; ta itiis !rj-
- rv iiS; fee m ir tt aa-l
rr.aie ?.r r- wrt at t ,: ,
n it u i riJTj- t?
vita a hi tr
t'.-m to :h i
.Nut. A: Ll U.r. :f b.
r ----V
ti t-r !"
i .-1 ; ; -
I tt Law .f ISjT in I f
Drt-ceCifi " - we; 1 mj ir.i.'. u.e a ts-
election and defeated, visited Jackson lor the "'u'- B,(rNf .ua' tM- -1 I" f
From th Vicksbur Sen'inel.
A. G. JI .MT I',
The whigs are now making a strong ef
fort to impose upon the p-oj le and io induce
them to believe that Gov. AicNutt is mainly
responsible for the great increase of bauks
in this State, and was a strenuous advocate
of the post note po.icy. it is indeed strange
that after being1 denounced for four years as
a hard money man, he should now be charg
ed with being the author of the banking sys
tem of this state. We will give a history of
his legislative career. ;
In the summer of IS 35, he became a can
didate to represent the counties of Warren
and Washington in the Senate. At that peri
od the district cont lined less than 3 hundred
democratic vetes; the whig vote was near one
thousand all the banks then in existence
were under tho control of commission mer
chants, and money could only bo obtained
II avowed purpose cf al'tndin court. I!
I was then a director ot the rail r- ad hank of
this place, and during the residue of tri ses
sion, he was an active Lobby Member. He
represented that Gov. AfciYutt's opposiiiun to
the Mississippi and Alabama Kail lloa t com
pany met nith the decided disapprobation
his constituents, and that Le was expected to
pursue a different course. Th Judj pro
cured a bill to be introduced into t!ie house
for an increase of two millions of dollars of
the capital of the Rail Road Ikink of thi ci
ty. He also drew the bill incorporating the
Tombigby Rail Road and Banking tympa
ny, and procured by his untiring exertions
the support of the Lowndes delegation to
that measure. He was for connecting Vicks
burg with Mobile and Columbus. Governor
McNutt finding U was impossible to defeat
any bank bill in the Senate, tried to mitigate
and control a system which he could not de
feat. For this purpose he introduced a se
ries of resolutions intended to test the -ense
of the Senate as to the extent of Kinking
capital to be chartered and the restrictions
to be placed in the charters to guard agiint
abuses. These resolutions produced a lon
and angry discussion those who heard it
will remember that Gov. McNutt was not
viewed as a friend in the abstract to banks
but on the contrary opposed to them ia prin
ciple but inasmuch as other states were in
creasing their banking capital and his con
stituents demanded a further increase, he
felt bound to carry out their views. The
proposed increarse of the rail road tank was
intended to promote a stock speculation of
some of the directors and their friends-
when the bill came to the Senate, it was, cn
motion of Gov. McNutt. so amended as to de
feat their scheme and the amendment was
consequently rejected by the directors who
held the proxies of the stockholders.
Gov. McNutt was not in favor of charter
ing the Lake Washington Bank, but gnve it
his vote because he knew that his constituents
were fa orable to the measure. Asa Sen
ator, he could not refuse to vote for banks
in those portions of the State then destitute,
after sanctioning their increase in his district.
He, however, defeated many bunk bills
j which had passed the lower house. He was
, the chairman of a committee to whom they
were all referred; there, when tie re was no
prospect of defeating i bank bill, he amended
j it; but many of the most salu'ary - amend
i ments he proposed were voted down bv the
I Senate. At that session par'ies in the Sen-
I ate were equally divided. When he return
ed home, in the spring of 1S30, he was de
nounced by the whuj party, fr his opposi
tion to the b anking system.
Previous to the Apri session, 1537. k was
instructed, by a petition to th Legislature,
signed by a large majority of Lis roa-tituents,
to vote for the Vter Works Silk and the
Bank of Vicksburg. To carry through rhee
measure, he was co-np!Ied to vote fur bi,k
in other portions of the Sta?e. Nine tenths of
i the signers o those petitions were whig, lu
r voting fur the charter of ner banks Gov. i!c-
Nuti was jjiving tfeir vote, not hi ua. He
ivuiu nut :arry uvi meir inenuon wufiOQt ru
tiog for banks in otb r portions uf ihe State.
Tkeir instructions cumpeil him to ue r
the banks at Yicksburg, Tort Gibsua, Caatoa.
Beaton, Lexington, Grenada. Hwlly Spring
and Hernand , in 18b7. Their known wiLe
and the importunities of edit.g wLis cvti
pelling him to vot fur the hanks be did In 1:6.
.During the three sessions Le rexiainea in to
Legislature no bank bill was defeated in the
house, uinny of theiu f ased tht body without
being read, the whi members from "this di
tric never raising their vuices in pitivu
to the thinning increase they neier'made
single enort to arrest theiT pasae or tu place
salutary restrictions in their darters. Loud
and often did they denounce Gov. McNutt as a
Loco Fuco Bentonian, a hard Uicay man, o
puted to all banks nd he fee cf the credit
But it is said that h favored the poet cote
policy. It is we.l known that Gov. Lynca
sent a circular 10 all the banks to send dele
gates to meet the legislature at the called ten
sion, in April, 1S37. These delegates recom
mended the passage of a bill autaorixing th
banks to istia mist notn. Cinv f T .
voted agaioet the bill it all its -tffe and on I
ui cirru.a.i i ai 13 a 1 it t t. i ,
Itili-t and Jiji i t ! A- a atir.er f e
cesitT the iovrn r rv.os.aadU ij
ates bearin interest slId $. .-. 15
ula.ee tf irre:eeraa!e pt "r te r. - a t---est.
It was nut cos.: eaj :-d ?r t-:
thtt p-yt notes shoaul be ie4 f.r t- rr
-ocpiivo wis f5r', row I ti: v
nuie sy La2u bec.-m tl ? ts.3 t -cy
of iLf ctXiatry. That ci-; re- cx i
tie pa.a4e T a law r..liiai ' utxi
froa e.Ttending tiiir i--a- a r .
1 ion i- ejected and c n: 1 1
bank isne would -&lr cau-e
depreciate si:I t-jre. proermt.-:'e tl- r .
tia cf specie py -ner:, ard c:ii- ;
country time hat fy.lt proved u tr-: f . .
assertion Had the Iej"isre is u
ed -ut by Iw the GovererS re..osa - e ;a:; .-,
the carrenrv uf the S.ate vc'l &. a ; . .,
and her credit retarl. It it f.'e, rr
eollvc Jon of our retjr iS; Ijw. 51 -S't t -poed
the policy of t.- I's' . n Pi k 1 - f. 12
itttinT fos? nj'.e, and aia.-s.i .- e .-.
The riaater ar rriia rjaa; zuiz
of theat will loe fix" ee 1 v-r ta r 4 . I r- rr
tale on Lheir cvtroa. ni rje pjz t-tr -.f :i -Union
Ean'x are dj :t:x ox'.j cij't ex:
oa the d ollar
Gov. .McNutt hi isi;d rt!-i
Legitlture last Jaaurr. at
rtet length n the hnk ttta
th'uaad cwaie of that i r,nrti
byirder cf tn lilk: ure. it-- b--a c.
tributed over the S'a'e. hwmlj pf::i: m
every newspaper ia tie Siate. Ti- rai.t it
inzpracticahlc fr the whij pr.tw c-.irepre!:
hini. Many of the wL:; farty are u o t,izc
ed the tace rf ti .Iicy. mm wl; t."
cially up,o-t hi re-leeix. Ta dees rt.
ic party, with the e.Xfe-tk .f a w tn.k e
reclors. who are blia-Jrdi it their prejaee r
seduced by a sordid I ve cf lacney. w.Ii r e
him their undivided stirprt cit Nvv-.ier It
should Bet to forg-jfe-a .bat th wfe; haJ a
niajority at the lt: sto.a 1 f te l-T-i-!a: j.e .
a n4 that they refused t mipt Xi.r i.ert
caValated to cbeck ti ban at i. teir ia!e
and destructive cre. li w i'd to Sree ia
mind that M'Nu't vet.-ed bar ciar'er 11
ISi", and that a cc ea kht .Lite j-a-ed
at that sessiva if he tad n-t icterroe. E
at the iast sea:ca of the 1-iUrure a
bank charters passed the I ue wf re: re--:-tive-,
hen the mhi Lad tie cj -ritr. a ad
were iot in the senate, nfcere fve desxcrai
were ia the avren.'eacy. If the wbi are at
heart opposed to the baaktr; m a cf tl
state, let thera j-jin the deo.crats ia a tsor tfa
ret ri of tie wLa'e system- This caa ciiy
be h-ae fcy ia ir j the aie at th roc-t cf lie
tree by repealiy all bank charters lcu--d
ia fraud or irasaed ia a caaaer irj-xicw3 w
the public gwd.
"JTN pursuance of aa order of the Honor-
able P ohate Court of Poatotoc co ;
I will proceed to sell ta the hihett bJ-
derat th Court Hoae d-Kr ;n tfce tow a
of Ilo'ly S, rin. r tlreTth dy of lt.
IS39.(on a credit of I'Z nntH.) tie- u !
lowing descritevi i1udHer ti.n of Ian J
it-loointr tt the estate cf ijsnius P.
McDowell, decea.-rj.
To Wit The outh west 1 4 of tc
'23 T 3 lie KH; south rat I 4 of ec 23
T 3 R 2 west; north eitt l-i tt sh- 23 T
3 12 west; outh aM 1-4 uf v 13 T3
R 2 west; north ea-t 1-4 d 3d T 4 R
S west; north ait 1-1 of 21 T 7 R 6
tfft; sju-h e;i't 1-4 of -rc 13 T 7 R 6
fi: north eat 1-4 of e-32 TSR S
wt: north wt st 1-4 of c 7 T 2 R 2
ea-t, south wrl 1-4 s7 T 2 R 2 rtc;
uth west 11 "sre 9T3 R3 ea-t; ;th
west 1-4 Hi T S R 2 east; oath at
1-4 12 T 2 R 3fi noah t 1 4
tec 1 4 T 7 R 3 eai; iSi ri-i 1 4 13
T5 R 2 east; a n west 1-4 ec 25T I K
3 east; north ea-t 1-4 sec 2 1 T I R3eau
routh east 1-4 sec 2S T 3 R 7 etst atii
the north eatst 1-4 of sec 25 T3R7 r-t.
Bnd with approved 4ec.ir.tyw-u.be
requiretl of purcharv
the Adminittrators of the estate 4 & a
mta P McDowell devta-!.
PcHttetoc, An,;. 2th, ISCf. tf

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