Liberty advocate., 1838-06-23

Oh IhWs
Where is the proof that "the banks are
for the most part these creditors" which
have instituted these seven thousand suits,
for millions in ''gold and siver?" 1t is
bare assertion ofthe editor the Globe only.
He has not adduced the smallest particle Of
proof. And what is his assertion worth
with those who know him, in relation TO
subject? Nothing; Nothing.
We have heard it stated, that some OF
the late and present delegation in Congress,
have been amongst the largest land opera
tors and SPECTATORS, in the State oil Mis-
sissippi.
The following from a New Orleans pa
per, give the evidence Of very extensive
transactions, by one Of those gentlemen;
TAKE NOTICE.-All persons are for
warned not to trade for, buy or receive in
any manner whatever, three negotiable
notes given by me to r. J. Walker Of Mis-
sippi-each for the sum Of seventeen thou
sand five hundred dollars, and bearing
1date on or about the Gath of August, 1886,
and payable at the Union Bank, Louisiana
1st Of March 1889; one on the lst March
1910; one on the lst of March l84l. Al
so from trading for six notes OF same date
and tenor, given by me to said Walker,
payable also in the Union Bank, each of
them for the sum of twenty thousand dol
lars, and payable on the lst March, 1842,
and one on the lst March Of each succeed
ing year up to 1S47, inclusive. These
notes having been given by me in errorto
R. J. Walker, and he having entirely vi
olated the contract Under which they were
executed, shall refrain to pay any or all
of them unless obliged by law.
L. K. CLIFTON"
April 25, 1888.
The evidence is not wanting to show
that tnother one Of these gentlemen, is a
large holder Of individual obligations.
All those gentlemen; those lately in the
House, and those now in the Senate, have
been firm and steady supporters of the
hard money, gold and silver, and Sub-trea-
sury policy Of the Government! What ev-
idence have we, that these gentlemen are
not suing, and do not insist on enforcement
Of such principles as have led TO the above
CAUTION from Mr.. Cliflon9 Yet it is the
banks against which the Globe labors to
excite prejudice and feeling of hospitali-
ty:
Where is the proof on which the Globe
asserts that the "banks get time from the
Goyernment;n but ''give no time to their
ldebtors.'' There is none whatever. And
what did the Government attempt to do
with their bank debtors, at the extra ses-
sion. The bill that was probably prepar-
ed in the Treasury Department, reported
10 the Senate and passed by that body with
trihing notifications, answers. That bill
authorised the Secretary ofthe Treasury
to demand payment ofall balances due by
the banks, in 2, A and 6 months after its
passage, in gold and silver, and TO sue inn
mediately any bank that failed to comply
with the demand!
The Globe says these debts were made
when paper currency, chedpened by extra
ordinary expansion, was the criterion of
value," and therefore denounces the banks
for demanding their payment in gold and
silver Oh! the abominable banks Let
US see irthe banks alone are guilty of such
atrocious acts. By an official report ofthe
Secretary ofthe Treasury. it appears that
the two Slate deposte banks" in Mississip-
pi, are indebted to that department about
one million and three quarter dollars.-
This debt they have been required to give
bonds to pay, in gold and silver. Did they
receive il in gold u silver? No. They re-
ceiyed it in "paper currency, cheapened
by the extraordinary expansion" for
which the Secretary himself authorised
the public receivers to exchange the gold
and silver that had been paid to them by
the purchasers Of the public lands
The banks have been denounced for
having employed such deprecated money,
and now while they are endeavoring to
collect it in such medium as is demanded
of them, they are again denounced and
threatened!
"Silver was demanded, and our citizens
threaten violence and bloodshed!" Do
the Democracy Of numbers complain and
threaten so soon? Why, this is but the
loretaste of the beautiful, exclusive consti-
tutional hard-money, Sub-Treasury policy.
It is unreasonable Tor them to complain Of
the operations ofa system which they so
strongly urge and support. They cannot
seriously suppose, for moment, that the
banks can long sustain themselves and pay
the demands ofthe Government in specie,
and receive in payment from them, moth
ing but paper.
We apprehend, that should the scheme
ever be adopted. many of its present advo-
Gates will discover, from experience, that
1t appeared much more beautiful in theory
than 1t will prove in practice.
Ihe editor Of the Globe could NOT snai