7 Ga. 84 | Ga. | 1849
By the Court. —
delivering the opinion.
The paper sued on is in these words:
“ Planters’- & Mechanics’ Bank, Columbus, Ga. Jan. 29,1842. “$3,987 74.
“Gen. James C. Watson has deposited in this bank, three thousand nine hundred and eighty-seven 74-100 dollars, which
[Signed,] M. ROBERTSON,-Cashier.
“ Indorsed, J. C. Watson, D. McDougald, M. Robertson.”
We are unable to draw any distinction between the instrument before us, and those cited in the precedents, especially the two last. In view of the authorities then, we are of the opinion that this paper is negotiable, and, consequently, thatjhe indorsement is sufficient to charge Daniel McDougald, the defendant.
It is argued, however, that the indorsement is void, because the note itself is a nullity as against the Planters’ & Mechanics’ Bank. This may be true, and still it does not answer the question made in the bill of exceptions. If the note be good as against M. Robertson, the indorsement is sufficient to bind Mc-Dougald. If it was intended to be relied upon that this was not the note of the bank, but of the maker individually, the evidence should have been objected to as not supporting the averment in the declaration, which alleges it to be the note of the corporation.
But, admitting the case argued to be made by the pleadings, we maintain that this is the note of the bank. It is impugned on two grounds:
1st. Because, by the charter of the Planters’ & Mechanics’ Bank, “ The bills obligatory of the company, notes and all other contracts whatever, in behalf of said institution, are binding only provided the same’be signed by the President, and countersigned by the Cashier of said corporation.” Prince, 127.
Although somewhat of aliteralist in the interpretation of laws, I feel constrained to deviate in the present instance. The history of this Act is too fresh in the memory of all, not to know its object and meaning. It was designed to prevent the issuing and circulation of post notes. And as is not unfrequent with the Legislature, they exhaust the whole vocabulary of words applicable to every species of instrument, lest the true intent of the Act
A striking instance of this mode of interpreting Statutes, is furnished in the decisions of the Supreme Court of the United States, upon that clause of the Constitution which declares, that “ no State shall emit bills of credit.” The uniform language held by that tribunal is, that while in its enlarged and perhaps literal sense, the term “ bills of credit,” may. comprehend any instrument by which a State engages to pay money at a future day, thus including a certificate given for money borrowed, yet this inhibition of the Constitution applies to bills of credit in a limited sense; and that in order to restrict the interpretation of the term, recourse will be had to the history of this description of paper denominated bills of credit, and used to answer the purposes of circulation, before the adoption of the Constitution, in order to ascertain the mischief intended to be prevented. Craig et al. vs. The State of Missouri, 4 Peters, 431. Briscoe et al. vs. The Bank of the Commonwealth of Kentucky, 11 Peters, 258.
To put the construction upon this provision, which is contended for, would put an end to all banking in Georgia. For the sweeping phraseology, all contracts whatever includes implied as well as express contracts. The banks in this State have never put
We are of the opinion, therefore, that the Court erred in sustaining the demurrer, and its judgment is reversed and the cause remanded.