REPORT OF THE COMMITTEE
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- cDr.EER The select conm1ttee to whom was refer
% much of the Governors Message, as relates to state
m outstanding bonds ofthe State and the interest there
hove had that portion of the message under their consd-
oh -. | and have piven the reflection and examination
90 crave and imposing question 1t presents, demand


ompee cannot but regret that questions SO materially
soo he honor character and dignity ofthe state, should


- time arise, but more especially that they should


risen at time of such unusual pecunary depression
S nresent They feel however that having arisen, they


H not be avoided but be met examined and decided with
ont hlleFng or hesi-auon. -.


es of bonds for the payment of which the faith OF the


f Mississippi is pledged One the bonds issued and
IA to nav the subscription of the for the stock the
DIf bank ia the of Mississippi The other bonds
I d payment ofhe States stock in the Mississippi Union
Yogr committee think it important right presentation
, s questions involved to make plain and distinct


ohe circumstances under which the bonds were issued
m manner which they negotiated and the subsequent
on the banks and the Legislature in reference their
~ The act of the Legislature creating the Planters Bank
h state and the various amendments that the Gov
n was authorised subscribe behalf of the for
100000 the capital stock of the bank and the
4 II he state payable the bank for that bear
he interest from the time of their negotiation the of six
w cent per for the payment of which the faith of the


pledged No other restriction the sale othese bonds
,- anD ed but that it should be sold for gold or silver
The a authorised the appointment of commissioners by the
53J. hneguiate sale of the bonds The millions OF
stock s subscribed and bonds for that executed aud
delivered the bank. These bonds sold and paid into
bank The trlns upon which they were sod do not
gelr Gon any proofs before yoar committee.


Your have doubt but that they sold in
conformity with the provisions of the bank charter The
long silence the and of the states directory upon this
SUBJECT ant the known character and high standing Of the
entrusted by the bank negotiate the sale OF
h bonds leaves doubt the mind Of your committee
the validity OF the sale The facts that the of MIssis
s continued after the sale appoint her proper portion OF
edecuy oEthe Planters bank and that from year year
the Legislature acted Ipon and recognized the interest OF the
the Planters blab the of the millions
OF stock subscribed proof concu in tho opn-
your committee that the commissioners the sale OF
the bese issued Planters bank con