Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-05-15
aHaue mereg on ,lsl''-Demoerat.
We will.ifgour future conduct deserves

t. H
A meeting was lately held in Yicks-
,urg, the object of which was to take in
. consideration q the charges preferred q.
yainst the Banks of Mississippi, and Also
= enquire into the causes Of the present
Iepreciated state Of our currency. The
meeting was fully and respectfully attend
ID. Hon. w. L. sHARKEY presided, and
George Brungard acted as Secretary
The following. resolutions were adopted;
Whereas the community is deeply inter.
ested IN the currency, and in the fair and
prudent management of its public Instltu'
lions. And whereas reports are In clrcu-
lation that some Of the Banks OF the state
are engaged in buying up their own paper
at a discount in order to exchange for tlleir
own: and other abuses are also suspected
or credited: and whereas tits not:generally
known what appropriation has been made
or is intended TO be made by the banks OF
the exchange which they have the control,
and in consequence of the want OF infor-
nation on these subjects, suspicious are
enoendered and distrust created: and
whereas it is due to the public who are vi
tally interested in the subject, and oil abu-
.es should be made known and corrected
while all unjust suspicious should be remoy.
ed. Therefore
/. Resolved, That while we are deci
dediy- friendly to the banking system, We
are determined to make untiring zeal a
gainst all of its abuses.
2. Resolved, That any bank which de.
preciates its paper for the purpose OF buy
| ING it up at a discount is guilty of a shame
full and outrageous abuse of its powers
and ought to be subjected to the most ri
gorous action of the law.
8. Resolved, That any bank whicl
buys it's own paper directly or indirectly
at depreciation, acquires an interest j
its depreciationa and ought to receive tn
condemnation of public sentiment and b
visited by the several legal enactments.
4. Resolved, That this meeting regar
with marked disapprobation the accept
ancc of dictatorship of any of the bank
by member of the Legislature of tn
State.
5. Resolved, That this meeting highl
approve of the Vicksburg Banks in calm
for an examination into their condition b
the appointed legal officers, as it shows
consciousness of integrity and commend
able disposition to invite scrutiny.
6. Resolved, That an examination il
to the affairs Of the banks ought to tai
place as soon as practicable, and to be col
Quoted rigidly 10 expose and punish frauc
and to acquit and place firmly in the pull
lie confidence, such banks as have bee
honestly and fairly conducted.
Z. Resolved, That the charge of bu,
ing up their own paper is in the opinic
of this meeting not justly applicable
any one of our city banks.
8. Resolved, That it is the duty of Il
banks to do all in their power towarr
4 bettering their currency.
8. Resolved, That the main cause
the present depreciation of our paper
the large Indebtedness Of the country al
the necessary increase of the paper Giro
lation.
10. Resolved, That the banks ought
make forced curtaiIment of their circl
lations, when and only when the countl
is relieved of the pressure of its foreis
debt, but should avoid any increase of
and that all undue expansions and all Vi
authorised paper issues are public grieval
i ces. H
IL. Resolved, that in our opinion Il
country, in time will be able, and is wi
, ing to pay all its debts; and that anotht
crop will enable it to do so.
II. Resolved, That rigid system
economy in expenditure and caution
the creation of new debts prevails among
us and is highly praiseworthy.
Ii. Resolved that the convocation
the Legislature at this time is inexPec
ent.
! IA. Resolved, That the prompt con
pliance by our city Representatives wi
the expression of public feeling in refe
. ence to the incompatibility of the uniC
4 of the two Offices of Legislator and Ban
4 Director, is highly commendable, and Ell
q titles them to our utmost confidence
: their integrity and correct political fee
ing.
On motion of John G. Parham,
Resolved, That our city papers be r
! quested to publish the report with the pr
amble and resolutions and accompanyir
documents.
On motion, the meeting adjourned.
: w. T.. SHARKEY, Pres't.
Gro. BRUNGARD, Secr'y.
t MERCANTILE CONVENTION.
A short time since. we nronoised n I.