Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1837-10-28

Page $50. "But let US examine this 'cours-
Risaoe' and see what II is. The report on this
subject, page >. states the only general conyeni-
ence 10 be preventing the transportation and
re-uAnSpoTtauou OF m5acg between the Niaiss
crease of Circulating medium a>cH6ed to 1t as a
merit aud which according to my ideas OF paper
money IS cleary a demerl.)
avery State will have To- pay sum OF tax mo- /
ney INTO the tr,0sUry, aud ,be lrsesury Will have /
to pay IN every State part ct the iuie,es, on lhr /
public debt and salaries To the officers OF govern
ment resident IN that State. Ia mos, of the /
States, there vii be surplus Of tax money, t.
come up 10 the seat OF government for The oai /
Gers residing there. The payments Of interest !
ana salary III each Stat may be made by treat !
surv orders the State collector. THIS will
take up the greater part OF the money hc had coll
leced m his State, aud consequently prevent the
great mass Of It from beng drawn out of his
State. II there be a balance of commerce IN ia
vor of that State against the one IN which the GO
yernment resides, the surplus of taxes Will be re-
united by the bills er exchange dawn for that
commercial balance. And so It must be If there
was a Bank. But If there be no balance of COM
merce, either direct or crcuou, all the banks IN
the world could not bring Us the surplus OF taxes
hut IN the form OF money
| "lTeaShfy orders lheh, and bills nt eNehauIe'
may prevent the displacement oil the man mass
OF the money collected, without the ana OF any
Bank; and when these tan II cannot De prevented
even with that aid.
"Perhaps indeed, b0nA bills may be more
convenient vehicle than treasury orders.
"Bu' thlIc difference, an the degree OF conre-
nieace, can not constitute The necessity winch the
Constitution makes ;ac ground tor assuming any
mote euumcrred power.
"be>idea, thc existing banks Wll! without d1uut
eutrl mt' Arrangements or Lending then o-raey
ANA Ur lHNUe 'Fupa.t there a.. be "a tamlr-
uuu among tser urll
"Hh..ces tai. bill d liver. Us W. bound to a
u,iton bank. which !, Iter. To refuse all arrange
aents but on rs own terms. and the public not
free on such refusal to employ ans other bank.
1.-The thing msy be done, aud has been done,
and well done without this assumption; therefore
II does not stand Oh that degree OF necessity which
. can honestly Justify il.
0 1t may be said, that bank, whose bills would
have a currency nil OVER the States he mare cnn-
venient than one whose currency Is limited TO a
single State. So it would be still more convent.
ent that there should be bank whose bills should
j have currency ali over the world. But it does
r aot follow from this superior convenience, that
q there exists any whore power to establish such
a Bank, or that the world ma, not 90 on very
well without il. Can il be thought, that the Con.
stitutIon intended, that for shade or two of con.
reneace more or less, Congress should be author
J lZed to brcl dawn tho most ancient and Gindj
d mental laws of the several states, such as thost
1 against mortmane, the laws e auriagc, the rule,
> Of Discreet, the acts of distribution, the laws Of
eScheat and forfeiture and the laws OF monopoly
: Nothing but 'necesSiiy' lnyinclble by any othe
S means, can Justify such prosiraton Of law
: which constitute the pillars of one whole system
n of panics produced. WIN Congress be to-