Southern telegraph., 1838-03-13
MISSISSIPPI AND ALABAMA RAIL
ROAD BANK.

MISSISSIPPI AND ALABAMA RAIL
ROAD BANK.
In another column will he found the
statement of the ntf,irs of the Mississippi
and Alabama Rail load Company, from
which it will nc seen that large portion Of
its looms have been made in small amounts
tn planters aud other producers in the conn
try. By reference. 1t will be seen, that
compared with either banks, the officers owe
but small am nnt TO tho institution. The
issues of the bank have been made almost
entirely on cotton, which is now being sold
E,r specie and specie funds
"A few slavcrs and brokers have entlea-
vorcd to get up prejudice against the
Brandon Bank, in relation to its operations
in exchange. 1t will be rccolIected tina,
bcfrc this bank commenced, exchange
could not he had on New Orleans and the
North, short of 20 ar 30 per cent. and was
hard to Obtain at any price. The bank is
in the habit If checking for the planter on
| New Orieau>, ~ the extent Of one-third
their crops ut 5 per cent, and to the same
extent On the east or in United States Bank
notes ut 7 per cent. For her northern is
sues, the bank checks on the east at par
The bank has not checked for any Missis.
sippi money except her own issues on the
North.
The hank has charged, knowingly, M
citizen more than to 10 per cent. for u
States money; and for travelling expense
money generally at par. When called on
by foreigners, who have bought Mississippi
money at heavy discount, the bank has
charged ii or Is per cent. in exchange for
United States money. Such are the facts
Do the brokers and foreigners who buy
Mississippi money for speculation, ut dis
count of % per cent. aud oficntimes more
deserve all the sympathy which is sought to
be cxcrte,l in their E,vcr2 Is it not fair
'ha, they should disc"ryc portion Of their
iIl-eoticn spoil? These men who arc DUNG
all in their power to derangc and depress
our currency, should not be objects Of pecu.
liar solic'tude. They should have Justice
and no more.
| The Brandon Bank having diverted n
large portion Of trade from the brokers and
siIavcrs Of New Orleans, has become OBJ
roX'ous to that piratical crew. They seek
every opportunity to traduce the hank, and
their agents and creatures are busy in the
work Of detractinn. Some of them have
4 commenced dealing out their poison in the
newspapers of this State. The bank stands
pledged to furnish exchange at all times as
cheap as any bank on the river, or else.
: where in the State. The prices at which
she now sells exchange, we believe to he
more favorable than that of any other bank
IN the State.-Mississippian.
Tho legislature adjourned on Friday. af
ter session Of forty-seven days. Little
more has been done than creating banks
and corporations. 1t is astonishing to wit
ness the spirit Of Incorporating which per.
vades the community. Turnpikcs, lodges,
churches, banks, trading companies. in
short, every thing is the subject of corpor;,.
ZION by the legislature. We believe the nm.
y Incorporation which the legislature re.
lused' was bill to incorporate The Cock
Grow Hall" with banking privileges, and
which Jailed in consequence of an amend
ment to locate branch on Pumpkin Patch :.
f-Mississippian. '
Nsgro S.Drogc-The PENNSYLVANIA Re.
'orm Convention, now in session in Ph;lo.
delphia, have excluded negroes from the
right OF voting under the new constitution,
by the overwhelming vote Of seventy seven
to -forty-fivc. The amendment, proposing
alter twenty years, to put it in the power OF
two successive legislatures to grant to ma
sroes the privilege Of voting. was also reiec-
ted.-G. Calf Ado.