Opinion · Supreme Court of North Carolina

President of the Bank of Newbern v. Taylor

President of the Bank of Newbern v. Taylor, 6 N.C. 266 (N.C. 1813)

Type
Opinion
Court
Supreme Court of North Carolina
Jurisdiction
North Carolina
Date
1813-06-05
Topic
general

Hall, Judge, delivered tbe opinion of the Courts 1 It is not questioned that the Legislature had the power to grant the charter to the Bank of Newbern. The object of this grant was tho public good, which the Legislature .had in view on the one hand, and the grantees had their *267 private interest in view on the other. To Carry into ef-feet the scheme of the bank, it became necessary for the f j, , , parties to enter into arrangements tor that purpose ; and one part of the arrangement was, that debts due to the bank might be recovered in a summary way. It is said this is a violation of the second section of the bill of rights, which declares-^* That no man, or set of men, are entitled to any exclusive or separate emoluments or privileges from the community, hut in consideration of public services.” This objection will vanish when we reflect, that this privilege is not a gift, but- the consideration for it is the public good, to be derived to the citizens at large from the establishment of the bank. It is not for this Court to say whether the Legislature made a good or a bad bargain; it is sufficient to see that they contracted under legitimate powers; for over such contracts, Courts of Justice have no control.

Citator

UpLaw has not yet analyzed President of the Bank of Newbern v. Taylor. The absence of a flag is not a finding that it is good law.

Cited by
4 opinions