Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1837-09-26
10 The People Of Mlssi,.lp,

the State, have yielded less ~
own inclInatiOns than to the rene.s! ID
of public sentiment f' g
various quarters, and am infueno.J
more by a wish to do some service g
my country, than to crafty the supv..
tons Of a personal ambition.
In times like these the Office Of e..
ernor of a sovereign State, so far e.,
being 'merely nominal" is, in nv on.
ion, off dignity and importance inl P~
or only to the Chief Magistracy Of a.
Union. The complicated duties wb;I g
may deVolve on the Executive as a.
mander in Chief of the Army and h,
wy Of the State the known inAuen..
his councils, if judiciousIy employs5
will exert on the deliberative branch
of the Legislature; his power 70 &
vacancies in the judiciary; to nomn
ate directors, on the part of State !,
some Of the monied institutions of H.
country; to respite and pardon pubE.
offenders his duty, in uphoIding H.
majesty of the laws, in encouraging VI
tue and suppressing vice and immor,. =
ity; and above all, that watchfuI an.
tude he should maintain as 70 "a
crOachments upon our free instI,uhm,
from whatever quarter they may come
give a solemn responsibility to The a.
ton which may well challenge N
highest efforts Ofpatriotism and deyo
tionto the public welfare.
In conforming to approved repubE.
can usage, by presenting a candid e1Do.
sitiOn of my sentiments, the mode Of
communication will necessarily rest1e
me to a brief consideration ofthe tones
which now attract, and for some time
to come, are likely to attract the largest
share of public interest and atten-
ton.
Among these, by far the most exc. q
ting and vitality important are the prp,. 3
ent deranged condition of the currency q
of the country. and the ACCOMPANYING
and consequent pecuniary embarrass.
ments of the people. The hum Of an
industrious and happy prosperity, which
had TO parallel in the history of any
age or country has Just passed away
With fresh and fertile soil. employed
IN the production of the best STAPLE IN
the world, the planter was enioYings
rich return for his labor, and promising
to himself a long continuance of s
blessings, when suddenly blight CONS
upon the land, and a present desolatisa
and frightful future, which seem 10
have been the work Of the Genius Of
Ruin, meet the eye on every hand
We are III debt; we haN but little cir
cuiatlon and that in a deprecated cur
rency; we have loss of confidence.
suspended Banks, cotton down TO hall
It's former price, and land and negroes
and every species of property depreci-
ated in similar proportions: every
thing Is dropping; ''the whole head is
SICK and the whole heart is faint" To
inquire into the various causes which
have produced this diseased condition
OF the body polite is perhaps idle and
unImPOrtant, except in so far as they
may be calculated to point out the pro-
per remedy for the malady.
Any one who will refec: uDon the
intimate connection between the cur.
rency, and the various pursuits of life,
must perceive that any arrangement
to which it may be extensively subiec-
ted, is adequate to the productions Of
the evils of which we complain; be-
cause such arrangement lmparts a
character of distrust, fluctuation and
uncertainty to every engagement.
1t IS within the memory of every
man that few years only have passed
away, since we had one of the best cur.
rencles in the world; specie as basis
ana bank notes equal to specie, of uni
form value every where: But il was
determined the United States Bank
should not be re-chartered; State Banks
were immediately created every where
70 supply the deficiency in the circuIa-
ton to be Occasioned BY its Withdraw.
al. These Banks having no check up.
on their issues, expanded them to an
enormous amount; property of every
description appreciated in price, and in
the rage for getting rich, the ordinary
dictates of prudence were, to some
extent, overlooked and disregarded.-
Every thing seemed to flourish. In
inns condition of things the specie cir
c9lar was issued. The banks soon
discovering what was to be its opera
tlon, commenced curtailng and refused
lurther accommodations to their deb
tors; specie was drawn in large
amounts for investments ia lands, and
taken from the country; public conf
Gence IN the ability Of the Banks to re-
deem their notes began to be impaired
ana IN short time the specie that had
been drawn for investment in lands,
was drawn for the safety of the holders
Of bank notes, and finally the banks and
individuals dependent upon the banks
nad 20 suspend, and property and labor
ana production all went down.
tnink the Treasury Circular precipita.
TED this unhappy state of things UPON
US, but am Of the opinion, il was. "a
some extent, unavoidable AZ some sub.
uo~1a4oraf