The Ripley transcript. (Ripley, Miss.) 1837-18??, 1837-10-26

% 40 ioFVlu0s' iheso oAices, DelleVe, can ne
successfully performed only by National Bank.
BY the establishment of such an institution, our
currency would coon become what ii once was,
the best in the world. With gold and silver for
basis the issues of sound State Banks for all local
purposes; National Bank to check the undue
action OF the State Banks, to regulate exchanges
and to act as the agentol the Government III tine
collection and disbursement of its revenues; and
then we have mixed currency, which experience
has twice proven to us is sound, regular, and fully
adequate to all the wants ofthe people and the Go
vernment, and { only one believe fitted to the
political, commercial and geographical character
Of our country.
In the establishment Of National Bank, we can
easily obvate the Objectionable features which
have been urged aganft the charter OF the old in
stitution.
If, then, am elected your Representative, |
shall vote for the immediate establishment of a
National Bank:
1st. For the purpose of furnishing the Govern
ment with competent fiscal agent. Cd, Because
It will furnish currency of equal and uniform va
lue throughout the Unon Sd. Because it will
restore the exchanges OF the country, and relieve
the community from the immcnce sacrifices which
are now made in the transmission OF funds from one
State to another. 9TH. Because it will keep in
CHECK the State Banks, repress undue and inord-
nate issues Of local paper, and by that means, in
all likelihood, prevent recurrence to the desperate
remedy of suspension of specie payments. There
is still another reason why am in favor OF o Ma
tiona Bank, arising cut ofthe Developments every
day making in relation to project, which, if car
ried into effect. WILL believe, prove fatal to the
liberties of the country. That project is the esta
bshment Of Treasury or Exchequer Bank, I'M
der the control Of the Executive. The establish
mem of such an institution would give to the Pre-
sident the control of the currency of the country
and enable him by the breath of his nostrls to
raise or depress the value of property ana the pri-
ces Of labor at any moment in any part of the u
Mon.
am too much of Democrat, in the good old
meaning of the term, to be willing to see such
power placed in the hands of any President.
would esteem the establishment Of a standing ar
my of hundred thousand soldiers, less dangerous
to the liberties of the country, than Treasury,
Bank under the control of the Executive.
Ibelieve if National Bank is not established,
q Treasury Bank win be; and have no doubt
that the true and only issue upon this subject which
can be fairly presented to the people of Mississip
pi is not Bank or no Bank, but National Bank or
Treasury Bank-the People s Bank or the Presi-
dent s Bank. To this complexion must the ques-
ton come at last.
never heard an objection to the old U. States
Bank which cannot be easily obviated in charter
ing new one, except the cons titutonal objection.
I know that as honest polititions as any in the
country have denied the constitutional power of
Congress upon this subject have myself, howe
yer. always entertained different opinion, and
believe Congsess have under the present Constitu-
ton power to charter Bank.
list. Because | believe Bank absolutely ne
ceasary for a uniform collection and disbursement
ofthe public revenues.
cd. Congress has express power by the Consti-
tuition to regulate commerce among the States;
and believe National Bank absolutely necessa-
ry for the purposes Unsuccessful commerce among
the States.
All polititions admit that ifa. National Bank is
necessary to carry into effect an express consttu
tonal power, it is constitutional to establish one.
| do not believe that the word Unnecessary" as II.
sed in the Constitution in relation to Incidental