Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-06-16

change due them, others not --becalse SIN 81 p
Iultion was not expressly nude.
Time passed-ihe Agency received and ship
ned. and the Bank sold, the Cotton: but Iomai5-
By money. instead Of getting better daily dep'ec.'
sied IN the market The consequence was, thai
The community, seeing no prosPec, Of the realIza-
ton Of their Just expectations, became restless
and dissatisfied on the subject. just at tbs time
the Agency graciousy distributed drafts on the
North at 80 days sight, iOr few thousands d'i-
lars, al the very moderate rate OF Upper cent.
lar hsir o.rn Bills, then due and unpaid; prorld-
Ell. boirersr, that these Bills bore date previous
10 the operation Of a Law passed at the last ses-
sion Of the Mississippi Legislature, which Iedu'
ces the rate of interest on protested Bank Bills
for much higher down to per cent. per annum.
! This gracious dispeusatlon lulled dissatisfaction
! for few days. But it was again becoming
/ manifest, and il was necessary that some other
expedent should G resorted to or It would be I'M
possible IN a short time to induce the Planters TO
/ take Bills so much deprecated as an advance on
their growing crops,
This object was attempted to be attained, by
dividing out, among the favored few to the ex-
clusioa Of the workingmen a certain sum Of Ala
bama money, at the the low rate Of per cent
premium for TomLigby of the oid issues. This
ike the others, answered for few days-but the
evil had become too great for quack remedies,
particularly when administered by an awkward
hand, the consequence is that we are all here to-
night. Col. Scott said that he had not himselrtak-
en- a brlbe, or he would not bo standing here to.
night lie did not, however accuse others Of
having done So
Col. Scott asked, where now was the Bank
agency Was it in the State Of Alabama! He
answered, it was not; II had been removed be-
yond tho limits Of the State of Alabama, under
the influence Of decision Of the Circnit Court
of the United States, which sits at MobIe-tcar
lul, he presumed that It's shaving operations and
quack remedies would presently so much shock
the moral feeling of the community, from which
It had uniusty abstracted so much of It's honest
that public sentiment might call on in.
dydual5 to resist the rigid enforcement of con-
tracts founded in iuiquty. lie believed, however
that such fears did great injustice TO our commu-
nty--a community, he believed, as Justly cee-
)ratcd for its honesty and high and honorable |
ceiling, as any in the South. But "the wicked
Teeth when no man pursueh"
Col, 5. again repeated, that he did not allude |
0 individuals, but to body without a soul, such |
IS all Corporations are And ifproof were wan
ing that this one was not exempt from their gen
raj charge Of heartlessness, it could be found in
he indicative denunciation OF those who dare to
Xpress the opinion that the decision above 0llud.
d to, Of the Court at Mobile was well founded,
nd would be affirmed at Washington City. lie
and that, as a general RUE, it was natural for an
or n Corporation, which was engaged |
n unlawful deeds TO denounce those who, either
~ giyiog light in the publishing of important facts
o the community, or who would otherwise inter-
upt such course, particularly when gam was
concerned. lie said that the Bills Of the Tombg |
by Rail Road Bank were a. present, as good in
his market, as the Bills of any Of the Banks of
Columbus and actually better than the Bills Of The
SiarheSrdle Real Estate Bank lie did not be-
ieye however, that any other Mississippi Bank
paper was worSe in our market than Tombsby,
with the single exception of St01keSuiHe, and per-
laps the Holly Springs private "Produclive Cot.
on Estate" Bank His own opinion was how
aver, that the Tombgby Fail Road Bank was a
,etter Bank than many in Mississippi, which have
m equal standing at this time as, for instance, the
Brandon Bank.
As for the Resolution which proposed to value
all Mississippi money by the standard Of Alabama
money, he would remark that to his Judgment, il
proposed an appropriate remedy for the existing
evil; indeed, he believed it to be the only proper
one that could be adopted. Ii would not be Just
ortgood policy, to exclude the currency of Missls-
slppl from a circulation in this community, be.
cause the great mass of the trade which nvigo-
rates and sustains our Aourshing and rapidly
growing Town, flows from that State. But,
the same justice and policy would not require Us
to consider that to be dollar, which so family
represents it az the Bills of the Banks of Mssis-
sippi 20 at presen-but IN hlsjudgmcnt required
simply that we should consider such to be worth
as much as they will sell for in Alabama money,
which, in his opinion, was bad enough in all con-
science.
As general remark, applicable to the Pre-
amable and Resolutions, he would say, that al
though he would have used different expressions,
had they passed through his hands, he would,
nevertheless, as an individual, vote for them, and
he hoped they would be adopted by the Getting.
Finally, he reiterated how much he was re-
loced TO find his tellowtownsman coming out as
Que man, aud so decidedly, on subject of so
much public mportance-becausc he saw in these
indications, not only that the hearts of Frcemen
beat in the bosoms of his fellow-citizens, but he
saw also, as he thought in these death groans of
an uredeemable paper currency, the first gleam-
mss of the rising sun Of specie payments in the
South!
At the conclusion Of his remarks, he moved
that the Preamble and Resolutions be adopted,
and being seconded, were carried unanimously.
McGREG0R, Chairman.
w. W. TAYLOR, Secretary.
BY AUTH GRITTY.
Laws or THE UNITED STATES, PASSED AT Tue
SECOND SESSION OF TUE TWENTY-FIVE Con.
GREss.