Liberty advocate., 1838-06-02

"
otherl States; as we owe large foreign
debt, and our banks are not able to give
exchange to those who hold their bills, and
individuals holdingthose bills are comPcll-
ed 10 use them in some way, and conse-
quently the brokers get hold Of the mon
ey at great depreciation. Another grand
cause Of this depreciation is, that about
seven millions Of our bank bills are paid
annually for the produce Of the western
states; those persons in whose hands they
go are compelled to make some arrange
ment to put their money in a valuable
form, and consequently we see our money,
deprecated every day from the very fact
that we are compelled to send il abroad;
and until the planters Of this State make
their own corn and meat, The consequence
must be that we pay tax indirectly tothe
western states of about seven millions Of
dollars, and that equal TO gold and silver.
This was plainly demonstrated in the
suspension Of specie payments by our own
banks. The run was made entirely by
the produce dealers from the western
states, and the result was, our banks were
drained Of specie, and the banks Of the
west were overhowing with it. So long
aspur planters depend on the States OF
Kentucky, Ohio, Illinois and Indiana, for
their corn and meat, so long will our State
pay tribute to those States Of from five to
seven millions per annum in gold and sill
yer. The foreign debt will in q short
time be reduced TO an amount that will
not press sthe State, but in the absence of
the bills Of the United States Bank, until
a resumption Of specie payments shall take
place. the bills Of our State banks can
not be made current out Of the State, and
even after resumption think it doubtful.
The fact Of our having to rely on other
states for bread and meat will keep our
money below par.
The only possible good | anticipated
from the State bank system was that we
would be compelled to raise every thing
at home for our own consumption, but in this
have been disappointed. We see our
planters every day paying an immense tax
or money to purchase meat and bread
With. The consequence is, that until our
'anks pay specie, our money must re-
main below par, and when they do re-
iume, seven millions must 60 annually to
he western states for provisions. The
planters Of this State can never be inde
,endent, until the necessaries Of life are
.aised at home; and the State banks will
never answer we'll the interests of any
State, that is compelled to use the bills Of
hose banks out Of the State.
Let us make every thing at home that
We possibly can, and pay out nothing from
nome, but the debt that we already owe,
retain the proceeds Of other products in
The vaults ofour banks to do our own expor-
ting and importing, and use but ordinary
economy, and the State Of Mississippi can
be the most independent State in the Un-
ion. The present growing crop, and the
capital brought 10 the State by the nego-
tiation Of the bonds will reduce our foreign
debt so much, that no inconvenience will !
be felt in consequence of the remainder.
have witnessed every where | have
been, most rapid change in the political
aspect Of our government, and where
nave generally been, almost every intelIi-
gent man have met with was strong for
Henry Clay for the next Presidency; and il
hings proceed as they have for some time
past, there is no possible doubt Of his sue
,ess. Then we will Of course have Ma
ional Bank chartered; indeed should not
,e surprised, we're this desirable object
accomplished even before the next cleo
ion. Mr.. Van Buren, must certainly see
hat great majority Of the people are fa-
'orable to this system, and he possesses
lot the nerve to resist the tide ofindlgna-
ion which his policy has produced.
JNO. S GOOCH.