Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-12-15


. iag Jyta TIE use o he Uuitrd States moneys as
. tie Decs~s y OF meeting iae Government a,a.i> al
I these pl.r., secured 81 tie bank the privilege ut
establishing Throughout t.t Oaicd States, Offices ut
discount aal i,#4>l,s ani These extended infinitely
. rs lucrative business Tbs privilege ava, N8s
vastly more uaa an equivalent l1r lde sCNtce of
/ dshursnE tae putic moneys.
u 0u.t ae 1ls..us 20 tlc most superficial. observe
I er 'Ugt uoj ort ,ht fn1uca, tmh1uaszmeut> of
f 'Hg Government but Ia great measure, these 90
tEc p.ope a,se, sEe Htg at'g bHfabt t. thc Ceaaec-
. t1n between tie Gtgerumont and banks; and that
I t#g deterioration ~ tA' currency ana ie gspen-
son o. sa,c.. -agueH.s. H Wct were not entirely
. produced, were GO .cas greatly aggravated by BE-.
ami 50 tg Dee ueac.Ga U. receiving ana aesp.nW
. 'te public revenue thc igru 1T h1ua credits
/ The reception blHs paper % payment OF dues
/ 60 tae Government. wgsi have Increased uc ae-
and .or b. gt .e5s go the extent U4u.rtj Tor pave
iHs tie rullc ravruu., 7n# rh.a 1tiiu1ua. demand
En- villas is cnsl Pee baHas uatAHE 10 furnish. ro-
operating with tag grg8#oas H-t Of tHt pubHc de-
/ postgs greatly To Increase their profits, could not
/ a.. ln multiply thyg number. and 60 stimulate 4cm
I to that excessive action, which gd % Tie gtG,ral
/ depreciation of jac paper currency. Jnl finally to
+ tAc suspension OF specie payments. II has long
been apparent, tHlt there 10 Che banking ystem
as t exists 200 ibis country a strong inherent ten
deuCy 10 uu into excess. which sumtthinr is rr-
CURED % regulate and restrain. Il "a because lhry
believe tHat % bank of lhe United States would
serve lHs purpose thar $50 many persons are found
even amoug those Wha duvht gts CouuutpHaatv
favorable to suci ana institution. The federal Fuy-
eruWem bias na constitutional power to apply thjs ot
/ any oMtr outci connective % iIe eW tendencies OF
+ tte banking .F ttHa ltttonrs ta TIE States, and
/ is subject to ta.r exclusive CONTROL Bot ii the i.i-
1 eraI government. g1uuat ounir1. Che cv. tendencies
! oi thr bahNNg system, can at least ahsiaD tIHm
/ stimulating aut arrayaHny them, as it has b.taar-
. 10 dou5. Tbs would be effected by establishing am
Independent Treasury, and requiring specie n paw
/ meul for t dues. The weight of the -deu. Icsr-
uut, instead Of contributing ouccteIalc tbe down
4 ward cours. oi the N1u.s would then he thrown U-
to the opposite scale. Ihc eSacllou of god and
/ silver iu payments so lhC governments besides dr.
miushHe ao demand Iaf bluk paper, ID tbp amount
required ior making those payments, and thereby.
To that extent dacauweGE w iaues would crCatt
F. q steady and constantly recurring Iumaud or specie,
| which the banks would have to furnish, and hy
which they would be- daily reminded of lIo ntctssl-
/ ty Of maintaining q Gue proportion between their
issues and Tie mean. or ICdccmlnt Them, and would
lhus be restrained from running into cAccesas. #
was hy ircaUautdrmauds ~ specie lor balances due
/ BY tle local banks ID te United States banks, that
/ dat Institution operated as check upon their is.
/ sHe#, aui regulator of the Paper currency and
there IS uo reason % doubt Mat smnrdcm3uds ~
the purpose of making payments 20 tte government
"2ut produce the sumo wholesome effect
bul M addition ~ jhe 'aIatmy influence Wbcl
,,...., r., H.. Az .oauges 81 ihe federal govern
r,,r,e.,, ~ ,l.,I, e,n,r, arl eiEctt over w
r..,,,r,,'3 q, W. ,I NM, ..e n'i tr,,I =, 49,. o,.
g.'..',''', . !. W. ~. "''' ', "''" :" 'l el''
,l,rl egt;I y, =, nm. f,.,r,I. ra,,rl IF, ,, MN
,'',,li .r,,, .',.i,' ,, ,.,.s =, ,i,. ,.,
r, - , ,ergrneni mai 'lr.cll, 81 ,l. ,.
,.af ,,' eg',,t, .n ,"la,, y, ,.,,,,,,+',', +
t,a rsgla,, If t1s .a,'arr, sl.ot,l H. 8l,a E,r
Hen E, +t. lrl,. MIMI. .,n n,t.,s, Ia,r, 1ai
fo SOME and hrI,G, IA otb,rs oeitL,a .,.,
b.rn
TIaI of r..,.gi.,,,. I,,.t. .s ,,,,II, .,.t,
t..ns .o. ..r ,...,. ,.rr.,,, ,,l+-,t, ,E,, a,.
r .'i'I t','",l P'"I. Xxx II '''3
'9y,' '.la o',lg' ". w. '''I ''o.7iIous u'si'".F
'.' ". I,,P', WDn'y j." ,''' w
",..,' r Ok, .,, '', ", u, I
'''''' ,' '' '''''r' ' "''' w. ''