Southern telegraph. (Rodney, Miss.) 1834-1838, 1837-09-05
TO TIE PEOPLE or MISSISSIPPI

agents, Ia elect two fIr the purpose Of tran
sactlng vour business and representing Won
in the Congress of the Unit,-l States. am
one Of the candidates for that high and i'm
portant trust; and both reason and custom
make 1t incumbent on me in the position
occupy, to make known TO you my political
principles, 50 far as they may have any
hearing upon the action of a representative.
This duty should hive performed long
since, but for indispensable absence from
the State, to which ! have just returned.
Though my name was before YOU al the re-
cent election, was wholly ignorant when
left the State that a special election was
: contemplated, and was not aware of the
fact that such un election would be holden
until few days before il occurred, too late
To have communicated with Won either per
sonally or by letter. trust this will he a
sufficient excuse for my apparent neglect.
will now give as snccinctly as possible
such Of my political views as deem you
will feel any interest in knowing.
The most important question which now
agitates the public mind arises out of the
distressed condition If the country. To the
actual existence Of great distress; to the ut
ter arrangement of commerce, foreign and
domestic; to the dimnution in 9TH the
price and demand for labor; 10 the prostra-
ton Of business in the mechanic arts; to
the depreciation of property; to the univer-
sal distrust and foreboding which pervades
the community in every part of the Union,
all men bear witness ;-On this subject,
there is but one party. The immediate
cause OF the evils above enumerated, is by
all correctly attributed to the arrangement
OF the currency of the country 1t seems
also to be admitted that the only adequate
remedy is restoration of the currency to a
sound state. The people look to Congress
toI this restoration, and they demand that it
be speedily made.
| believe that not merely the best, but
the only mode of restoring the currency of
this country to sound condition, and keep
Ing 1t so, is the establishment of NATIONAL
BANK. believe we cannot have cur
rency in the United States adequate to car
ry OH the business of the country, without
such an institution. We certainly cannot
have an exclusively metallic currency,
though there is party who hold the propo-
slIon that we can. All wise politicians,
however, rcpudiate the monstrOus absurdi-
ty. Even the Globe denies that either the
administration or any prominent member of
the party ever advanced so foolish doc
trInc. Indeed, sensible men all Join in
scouting 1t, and it is now the peculiar doc
trine OF the Loco FOcos. | look upon the
theory of a currency purely metallic in a
on .f.l.,
s1nt specimens Of human imbecility ever
exhibited.
believe the State INKS, alone, incapa-
Bile OF furnishing a sound currency. Hav-
ing their origin under different systems of
IegSlltion, with dissimilar charters totally
Powerless beyond the limits of the State in
winch they originated, each eager to furnish
as large portion as possible Of the circula-
ton of The country: these rival and hostile
institutions are continually pressing forth
their paper, until public confidence becomes
shaken; their issues are returned upon
them; suspension ofspecie payments is the
consequence, and seven years of pecuniary
lhmlne succeed the seven years of plenty.
The same course will be pursued again,and
thus the country will be alternately gorged
and starved. With National B INK in OPP
GRAFTON, such state of things cannot oc-
eur. The undue issues of the State insti-
buttons will be Immediately thrown back,
before they have reached an injurious ac- ,
and the State banks, kept in
and equal check by this great
regulator, will tremendously perform their t
egtimate function of furnishing a curren- a
y for all domestic business of the States to 9
which they respectively belong. This is {
he extent to which State banking can be c
;arried-furnishing local, but not gen.
'ral currency. Experience has shown, and
'eason demonstrates the inability of the i,
state Banks to carry on the exchanges of a
he country, and their unftness to act as
he fiscal agents of the government, in the s.
afe keeping and disbursement of its reve- a
'ues. These offices, | believe, can be sue
essfully performed only by a National
sank. BY the establishment of such an
Institution, our currency would soon be-
ONE what II once was, the best in the
'orld. With gold and silver for basis; =
nc issues of sound State banks for all local u
urposes; National Bank to check the -
ndue action of the State Banks, TO regulate Us
tchangcs and TO act as the agent Of the 81
overnment u the collection and dsburse- dc
ent of ITS revenues; and we have mixed eN
lrrency, which experience has twice pro- al
IN to US is sound, regular, and fully ade- by
late to all the wants Of the people and the m
overnment, and the only one, believe, nc
ted to the political, commercial, and geo. ar
aphcal character ofOur country. co
la the establishment Of National Bank, ha
Q can easily obvate the Objectionable fea- all
res which have been urged against the to
arter of the old institution. vo
II, then, am elected as your representa- mi
'e, shall vote For the immediate establish
ont ola National Bank:
lsi. For the purpose of furnishing the go sol
rnment with a competent fiscal agent tha
Rocnusa n will furnish a curronc,, ri n 4