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r
faith Of the State to borrow it had been
deemed unconstitutional by the people of
Mississippi, they would have repudiated
the said acts of their Governor and
Legislature, and not touched dollar of
the money; but inasmoch as the plea of
.unconstitutionality was not set up until
long after the money obtained on the
faith of the State was brought into the
State and spent, the plea of unconstitu-
tionelity is unavailable, unjust, and anti
democratic: because, not being timely
made, those who lent the money on the
faith ofthe State were deprived of the
legal privilege Of seizing on the funds
unconstitutionally obtained, before the
said funds. were squapdered upon the
political partizans and friends Of the
Union Bank.
-Resolved, That admitting the truth Of
the premises Of the repudiators, that the
Governor and Legislature betrayed the
trust imposed in them and violated the
constitution, in pledging the faith OF the
State for the redemption Of the Union
Bank bonds, still nothing will justify
State Reputation on constitutional
grounds, at SO late day as payday, but
an entire ignorance on the part Of the
people, Of said overt act Of their Cover
nor and Legislature; but inasmuch as
the said acts were timely published and
spread abroad among the people, and
met with no protest from them for two
years or more, while the money was
being distributed to greedy bank parti-
zans, and noisy politicians Of both par
| ties, the State is, to all intents and pur-
poses, as much bound by the said acts as
, if they had been in strict conformity to
the constitution; because the said acts,


meeting with no protest from the people
cannot annul their own acts, or the acts
of their agents after they have, once ap-
proved them, otherwise the people can
not be the sovereign people which dem
ocracy centend that they are, t-.


Res0loed, That, holding to the doc
trine of Jefferson,in the sense he meant
it to apply, that "one generation cannot
bind another, and all others in success
sion forever''-we do not assume part
but the whole doctrine of Jefferson on
the subject, and admit, with him, thai
the generation which has no right in ma


ture to bind all future generations, ha:
nevertheless, perlectright both in Law
and nature to bind itself, and hence
therefore, we hold it to be sacred duty
of the present generation, which has rur
the State in debt, 10 pay the debt as sool


as possible, and not impose the burthel


or some future generation, which, ac


cording to Jefferson, has no right in ma


ture, thought it will have in law, to pa.


it, inasmuoh as that future generation
cannot, as the present, be accused G
spending any portion of the borrowe


money in drinking Champagne and eat
ingoystet slippers. =
Resozued, That at the very time tn
anti-democratic doctrine of repudiatio
is furnishing the glory, impeaching tn
, honesty, and destroying the credit c
the State of Mississippi, it is affording


cover and shelter for an unprinciple
set Of men 10 rob the good people of tn
State with impunity, under the prete2
Of befriending them; because, while tn
: people have been listening to the doctrin


Of Reputation, many Of the debtors


the Union Bank, the loudest repudiator
have been carrying their property oI


ofthe State, and thus robbing the Stat
: Of so much of available assets of th


Union Bank, which, bat for the du
/ thrown into the eyes of the people b
, the doctrine epudiation, would hay
t been timely seized by the State author
ties as the property Of the State. 10
lawfully is.


! RESOLVED, That reepudia2ion of Sta


debts is not a democrasGc doctrine, /
= cause it is in direct opposition 10 tho
, principles of Eaonesty and good faith,
) which all so5und and durable republi


are fouhded.


!. lswr~sT5oo 7red. That repudiation ;s :