Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-11-10

Wat 5l- ner.a. of ihr chargt lhat q Hl-
fha 't raf.'riiisl i...i ,au-,i tt- -i-Prusinn,-
rl.sr rle tr7.fruur, col fhf Nr0 York Bank. and
its uur,,r- .i.gu,s .ellr, la iar uulh 90 llo 'u-
urntrit -rii-sN,ap-Iau OF tac papfI currency aud
81 ...e-dtir.. 18th ne morbid uveacu1u 81 the
af9i~ c6.n n-rriaI -y-ien ai fret ~ resoIu,rly
d.a.ed b, n.c wsiz press. under the cue Of the
prompting Of Mr.. B.ddel And since II has br-
come manifest that the reaction was unavoidable,
what has becUmo Of the abuse of The Specie CIF-
cular; which Il is now evident To- oil, afforded
cheek, 80 Ear as ils hunted operation went. upon
that expansion and oyeracilun. and was Indlsptn.
sable to preserve the public domain from the ra-
pld evaporation which II was undergoing on so vast
a scaleA-lhat public domain about which eminent
wing Statesmen arc navy 50 ANXIOUS that they are
unslng 10 allow the slight and morally equitable
privilege Of a pro-empll0n, 10 the poor man who
Il wiling to reclaim his quarter section hon the
wilderness. on condition OF being suffered to Dig
from II an honest livelihood by the sweat Of his
own brow What has become of that high po-
sltlDn OF the Bunk Of the United States, that it
suspended, late and reluctant, only for IFS coun.
lty's good, holding itself ready at any moment 10
cooperate IN restoring the currency, and To take
the lead IN rosumplion What has become Of
lhe Argument SO strongly urged and supported by
the authority Of former experience, that Nation
al Bank could afford the only means Of compell-
ing resumpiion--when the resumption has been
| carried into effect IN single year, by the banks
Of single city, agaInsi oil the gigantic power
welded against them BY that institution. and the
enormous influence which il controlled so us
even To force tl,e Great Regulated Itself back 10
| the path Of honesty and dizzy, against the most
determined resistance, which in the famous cot
ton bng letter. did not even restrain itself w'ihIn
the limits Of dccency What has become OF
the argument that such an institution was ncces-
sary 70 manage the exchanges OF the county
when our foreign exchanges SO speedily rshled
themselves as soon as relieved from the incubus
Of artificial management and the internal ex-
changes are so steadily and certainly undergo
mg tho same process, aud 50 clearly demonstra-
ting that the irregularities apparent on The surface
arc owing solely 10 the different degrees oi cred.
Il and solvency Of the different paper currcncIcs
Of respective portions of the Union 7 What has
became Of The argument that banks, and especial
" q National Bank, wtlo indispensable rs fiscal
agents Of the government, --vhrn through all The
severely lyIlg circumstances al thr year OF slIN
,en>loD, II Wa' able To dispense with both aud
thai, too, without tie provision oi u new legally
orgaulzed scheme OF independent management,
such as II mas twice applied 10 Congress I" Rinnti
What has becolneo the charge thai the attitude
assumed Ivy the Administration, on the stspcn- |
SON. was runolls aud destructive ot all the inter-
ests OF the country, IN liz stern d. termination not
10 acquiesce ~ an indefinite continuance OF It, by
bending the knee TO the Bnul Of paper money,
and conserving to receive deprecated deem
able currency--what has become of the 'tcn cent
evolution Of tho merchants and gentlemen Of
Boston against Mr.. Kendal--when it is now
90 manifest to admit of serious denial, that o
llilerenI course, on the part OF the Admnslra-
ION, would have prolonged the suspension for Sc.
cral years; and that to the moral force Of the
'ublc sentiment which i, alone kept alive aud
10 the mllyhg influence Of the spe-
lie flag which II alone kept dying, has been mann
y, II no; solely, duo the happy direction which
vents hive now takenl What has become Of
he charge Of hostility to legitimate credit, or to
ound aud honest banking, after the signal man
Ter IN which the Administration aud lis friends
ave lem their co,Intenancc and support to the pro-
,e,s OF resumption And now that time has
aed the subject allltle, what has become Of all
ne ridiculous charges lha the Independent Trra.
Jury Scheme would absorb all the specie Of the
'ounIry destroy the banks, cripple commerce
nd industry, extend ullrmlngIy the influence OF
he Executive, aud enJaneer the public funds
All gone-all vanished into thin air