Hazard's United States Commercial and Statistical Register Volume 6

Hazard's United States Commercial and Statistical Register Volume 6

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1842 edition. Excerpt: ...correct, which is not admitted, the mere pledge of the faith of the State, or the mere signing of the bonds, incurred no liability, for the Governor might have signed bonds ad infinitum, or until he had filled the capitol and the streets of Jackson with them; but so long as they remain in his possession, are not negotiated or passed into the hands of third persons, no liability is incurred, and tha whole operation would be harmless. But it is argued that as the Legislature and Executive are elected by the people, they are the scents of the people--their acts are the acts of the people, and binding on the people. These affirmations are certainly correct, so far as the Legislature and Executive act within the pale of their authority, but no farther. The constitution is.the sphere within which the body politic "lives, moves and has its being." In legal contemplation, while that constitution exists, the body politic cannot act without or beyond that sphere. It circumscribes the action of every public functionary created by its authority and any act of his beyond its sphere, is not an official, but a personal act, for which the people are no more responsible than for the personal act of any other individual. Ifthen (as we have shown) the act under which the bonds in question where issued and sold, and the loan of five millions of dollars obtained was unconstitutional, it was the personal act of individualsandnot the act of the body politic, known as the State of Mississippi. It follows then, that the State of Mississippi never issued those bonds nor authorized their issuance as they were issued.--The State of Mississippi never did borrow one dollar, nor ever did receive one cent of money from Nicholas Biddle, and is therefore under no legal...show more

Product details

  • Paperback | 448 pages
  • 189 x 246 x 23mm | 794g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236508904
  • 9781236508904