Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-08-07
COLUMBUS NIL TUEsPA !, AUGUST 8 1898: y.

II therefore, by virtue OF that enioin.
ment1of the Constitution which requires
the Governor Of the State to take care
care that the laws be faithfully executed.
and for the purpose aforesaid, do hereby
require all Banks in this Commonwealth,
on or before the thirteenth Of August
next ensuing the date hereof to resume
and continue the redemption of their res
pective notes, bills and other obligations.
in gold and silver coin, according to the
true intent and meaning Of their charters
And for the purpose of aiding those in.
stitutions in the Accomplishment of this
laudable object, deem it proper to state
from the information / have obtained, that
their solvency and general condition is
such as to entitle them to the confidence
of all who hold their notes, their amount
of specie on hand being largely increased,
and Of notes in circulation much dimin.
ished, since the suspension of specie pay
ments in May, 1887.
While it is thus cheerfully announced
that the means Of the Bank are ample,
and that their conduct throughout the late
trying crisis, generally such as to sustain
our already high character for punctuali-
ty, honesty and solvency, maintain and
even increase our trade, keep up the va
lue Of property and prevent the State
from becoming the theatre of Panic or
distress, yet | shall be bound, in duty to
the public, to take all the means in my
power to compel return to that agency
and responsibility to their creditors for
which they were created, if, however, a
return be promptly and faithfully made
to that line Of duty, to the laws, and TO the
public from which they have been COM
PEELED 10 depart, the occurrences of the
last year viii only be recorded in our his
tory as another instance of the perfect
adaptation Of republican institutions to
the demand of every crisis, and win show
that common and everything necessity be.
ing bowed TO by general consent becomes
for the time the law Of the land.
But to Justify such rule of necessity,
and to prevent future evil from its unne-
cessary recurrence or unjust continuance,
it is indispensibly requisite that the in
slant the pressure Of circumstances which
produced it, ceases, the empires Of the
express and ordinary law Of the land
should be resumed. Accordingly, if on
the other hand return to the general
and real redemption in specie, and a with.
drawal of all illegal pa per money from
circulation do not now take place, when
all admit that it may, with safety and pub
lie benefit, shall hold it my duty, forth
with, TO take all the measures to compel
it, which the constitution and laws have
placed m my power; and at the opening
of the next session Of the Legislature, to
recommend the passage of such laws as
may more etfectually guard the future
from the evils of the past.
And further for the purposes and by
virtue Of the ENJOYMENT aforesaid, | do
also hereby require all persons or bodies
corporate, who may have violated the
laws of this State, by the emission and
circulation Of notes Of any denomination
under that of five dollars, commonly call
ed shin plasters, to take instant measures
for the full and honest redemption of the
same, in gold and silver coin, or such
other ample equivalent as shall be salts
factory to the holders thereof, tintIer pain
of the penalties provided in such cases,
which penalties, If this notice be not COM
piled with in a reasonable time, it will be
the duty Of all good citizens to en-
force. =
Should this requirement be fully and
promptly complied with, the Common.
wealth will be restored to that sound cur!
rency which she possessed before the sus-
pension, viz: One composed Of gold and
silver for all sums under, and of notes
instantly convertible into specie for all
sums Of and over five dollars. The re-
suit of the attempt to improve the curren-
CIV will then obviously be, that the only
paper issues in circulation and not con-
Yertible into specie at the place whence
issued, viii be those of the National Go.
vernment.
In communicating thus publicly with
nv fellow-citizens on this most important
and interesting matter, | would respect
fully and earnestly say TO all, be firm and
cool in the emergency. Trust in the
laws, have confidence in the Institutions.
and sustain the high credit and character
Of your glorious Commonwealth. You
have borne yourselves through the crisis
nobly and honorably; you have come al.
most uniniured out of the trial. Make
one more calm and steady effort and all
will be we'll. The, forbearance and de.
termination heretofore exhibited have
been such as to reflect credit upon the
State, while it has strengthened the hands
and cheered the hearts Of your public q,
gents in the performances of duties OF nc
ordinary difficulty, eagl .sa
Contrasting, as is naturally done, the
Feelings and hopes connected with this at
attempt toad the resumption, with thoss
which animated me when / addressed my
fellow citizens on the subject Of the sus
pension Of specie payment, cannot ba
!. rejoice at the difference. We were theI
Eentering upon anew and untrieds cours'
Of action, whose happy termination wa
lonly amatter Of hope, We are now q
the conclusion, Of our doubts and fears
land withsthe blessing Of Providence q
tie exertionof or own moderation an
| industry, about 70 return to our usna
confdence andpnospa a
Given under our hand and the grea
ssal Of the State, At Harrisburgh
this tenth day Of July. ii the year D
our Lord one thousand EIGHT hun
9fpd and flairtv.e;ol.l. and af If,