Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-05-19

afiras N nIaah notice ior the yigor AMI nerve Of
=. iaedildt Of newspaper Published in that
,,Isce. particularly BY his attacks upon the Bank
ofKentucky, Cor not resuming specie payments /;
and IN The Gail Of 1916, he received proposition
10 remove 10 Frankfort, and take charge Of the
editorial columns Of the Argus, which he accept
ed. This threw him NJ once upon a broader
theatre, and be became Immediately deeply IN.
volved in the political controversies Of the times,
which were unexampled 10 their bitterness and
violence. As early as 1918, 10, 30 he called
IN question and thoroughly discussed the const-
tallonaliiy and expcdieney Of bank of The Uni
ted States. lie opposed with al the power Of
his pen the relief measures Of Kentucky, always
maintaining that il is better for the community, IN
the enj, to let commercial reyulsions spend their
fury a, once, rather than by tampenng with the
remedial laws, impair the respect which men
oughl 10 pay 10 their contract Obligations demer-
aze society. breaking up public confidence in
the stability and justice Of the laws, and demnge
alt business which depends on just aud whole
some credit. He was opposed 10 the establish
ment Of the forty old Independent banks, aud TO
the Bank o(ihc Commonwealth. lie was IN Ca
yor OF the repeal Of the act establishing the for
mer, as being destructive Of the best interests Of
the State, and not called for by the popvar will.
lie became director Of the latter, for the purpose
Of arsesiing, as far as practicable, the apprehend
cd evils. Two to three millions ofpapor dollars
were TO DO issued with nothing to sustain their
credit, but limited demand to pay State dues,
and tho principal aua interest Of the sims,boHoy-
cd. II was to be loaned propoIiionally to the
population in each county, in SUMS not exceeding
by law, $1,000 each, and, in fact, in sums hot
exceeding $500, creating fearful army Of debt
ofs. I've mmilient dangers were 10 be apprc-
hendcd--0ne that the paper would so depreciate
az to BIO dead loss 10 the communicated the
o,huF, that the army Of debtors through their
power at the polls, would relieve themselves by
destroying the system. To create a steady de.
mand for the paper, and roach tho amount loaned
50 gradually that no debtor could make reasona.
Bile complaints, Mr.. X. proposed and procured
the adoption ola standing rule, requringa cdftal.
mcni ia all cases al tho rale Of ono per cent n
month on tho amount Of each loan, until il should
DO csiinguishcd. The steady and silent opera
ton OF this rule, reduced the notes Of tho paper
machine IN circulation until they became nearly
equal 10 specie, and enabled il to wind up without
any serious loss TO the community. There eau
be little doubt, That had II been managed as other
banks are, making calls Of ten Cr twenty per cent.
at renewal, The whole affair would have explod.
ed,
Mr.. X. had been the jealous advocate Of sys.
tenn Of common schools and with tho aid Of his
friends, procured onohalf the nett proceeds Of this
bank 10 be SC. apart TO institute school fund.-
Under plan introduced by him, tho fund as il |
accumulated was loaned out, and tho interest nd |
dcd 10 the principal; and while he remained in |
the bank i accumulated TO upwards Of 100000. |
But other counsols obtained the ascendancy, and |
first tho interest on the school fund was iaken 10
pay tho expenses oflhe government and finally |
II Is believed, the funds itself merged in the other
funds Of tho state.
Though opposed toihe relief measures, Mr. X. |
did not doubt their constuionalily and when |
they were attacked on tina, ground, he was found
acting with the rccfpar This threw him upon
the side Of what wasealled the New Court Party,
which was sigaaiy osenhsown in 1925 and tho
GGssq sts I pas saS sr d S"t
hands. MI. X. has oftea said, iha, hls parly lho,
right IN principle, deserved to bo beaten in 1875
because they rcsorted TO strong Revolutionary |
measure, without first discussing il before tho
people, ard obtaining their assent.
But tho victory was rendered almos, bootless
10 the other party by their violence and proscrin.
ton. SO far the state had been absorbed in is
own concerns; but now general politics began
10 form an element in its ng,aons. The old |
judges, 10 pursuance Of pledge mado by them |
during the contest, resigned and being renomi. |
mated TO the senate, were elected, majority Of |
tha, body being then opposed 10 President Adams,
and new men were appointed in their places. The
New Court Party had lelt the power Of the gene.
raj administration against them, and almost 10
man cumo out for General jackson. On this
question potion Of the Old Court Party Joined
them, and ia 1928, the power Of tho state revert
cd to the hands Vi those who had controlled !,
prior to 1925.
Mr. KS controversy with Mr.. CLAY, and the
manner in which he handled his distinguished ad.
versary, arc matters Of history on which il Is up
nccessary.to dwell. II ended IN bis bearing to
Washington the vote Of Kentucky for Andrew
Jackson--a complete and appropriate triumph,
Much Of Mr.. KS editorial labors was devoted
10 advocating common schools and internal i'm.
provements. On the former subject, he saw them
approaching happy contamination, when all vas
swept away by the successful violence Of faction
On tho latter subject, he wrote many essays to
show that from her peculiar geology, Kentucky
could never avail herself Of canals 10 any consid.
cradle extent, and that the only mode IN which her
interior waters could be made useful for nayioa.
ton at all times, was by dams and locks in her
rlyers-a mode that has recently been odopled.
Mr.. KS. leading rules as an editor were no.
yer to state as ioct tina, which he did n1t believe
70 DO true, 10 let no consideration prevent the cor
rection Of a mistake when clearly ascertained md
TO LET no denunciaons. threats, or personal viz.
lencc, drive him from his course. Within tho
first four or five years Of his residence in Frank.
fort, many attempts were made 10 commit yo.
ience on his person; but on no occasion with r.
suits calculated to be very satisfactory tothe as