Lexington union. (Lexington, Miss.) 1838-18??, 1838-12-15

men? Is there peculiar, sanctifyin.
charm in being president or director O
a bank, that will preserve from conupiio
an honest man, or reclaim a scoundrel
A United States bank would be liable
break as well as other banks, and in sue
an event the government would sustaina
irre,rievabe loss, Whereas by the pro
visions Of the Independent Treasury Bill
if an agent of the government appointe
TO receive and safely keep the publ
money, should lie guilty iof embezzeIins
1t. besides rendering his securities liable,
he would forfeit heavy bond, be fined,
imprisoned, aud consigned TO eternal infa-
my. Here then is some security that
even a hardened villain would hesitate
long before he ventured 10 lay sacrilesious
hands upon The public treasure. Ii seems
to me, therefore, an evident proposition
that the money of the government would
be even safer in the custody of the treasury
than il would be in the hands of any bank.
Hence, it appears that United States
Bank is not necessary, either for provid-
ing sound and uniform currency, or for
the safe keeping the treasure. Ipresumea
1t is not necessary 10 say one word, TO
show that il is within the competency of
the states respectively, TO provide sound
and safe paper currency adequate to all
the purposes Of domestic exchange. In
deed see no reason why a state may not
provide as good currency as were the
notes of the late United States bank. All
that is necessary TO affect this, is 10 be in.
formed ofthe amount Of the active capital
OF the state, of the amount of its produc.
tons, Of the extent and character of its
trade and TO be prudent in forming the
characters Of its banks. | confidently
look forward TO the day, when The notes
OF the Union Bank of our state will be as
good and pass as current as did the notes
of the late United States bank. But the
great objection to U. S. Bank is, in
the concidency there would exist in its
own and the interest Of The manufacturing
states, and those deeply interested in the
adoption by government of system of IN
ternal improvement. The revival of the
system ofTarff Protection would create
demand tor more expensive issue of the
notes OF the bank, and thus the means by
which the domestic manufacturer would
be enabled TO do a more profitable busi-
ness would increase the profits Of the
bank. The consequence would be an
overlooking treasury. This would be fol-
lowed by system Of internal improve
ment And it is almost impossible 10
conceive of the extent of tho power these
three great interests, acting in concert
produced by interest, would exert over the
public mind, and pnbIic councils. A
consolidation Of all power in the general
government would follow as one among
the first fruits Of the Incorporation of such
an institution.
A United States Bank with CAPITAL Of
fifty millions, chartered for a period Of
fifty years, with The support and concert
Of the Directory Of its branches, and the
two great nterests have mentioned, could
and would destroy every other banking
institution in the country; and exalt whom
il chose, demoish whom it chose, and in
short, would hold in its grasp the destiny
OF the confederacy!! The prophetic mind
starts back appalled, in prospect OF the pc.
li'ical consequences which would ineviia.
bly, result from such money power.
Surely, then, it is the part Of wisdom and
of prudence, not TO risk our liberties in
hands that are able 10 destroy them.
In conclusion, l must take occasion TO
state distinctly, what are my politics. l
then am State Rights man derived
my earliest notions Of the genius oil our
Government from the disciples Of Thomas
Jefferson. | regard the Virginia resolu.
tons of 1898, as The textbook OF political
orthodoxy: in 1882. participated in car
rying them out in practice in South Caro-
lima, and am pleased TO have it in my
power TO declare it,. Hence ! deny that
Congress has right to adopt system of
Tariff Protection, or system of Internal
Improvement. ldeny that Congress has
a right to grant Charters of Incorporation.
! deny that The Government of the United
States, or any department thereof, has the
right to decide finally upon the extent Of
its own power, since that would place the
Government above the people, by renders
ing it irresponsible to them. And l also
/ deny that the judges of the Supreme Court
of the United States are the Ultimate
arbiters Of Observation-Disclosures. These
were the opinions Of the illustrious JetIer-
son, in his day--are now the opinions Of
bis followers, and Of. all genuine State
Rights politicians. And l sincerely be.
lieve that the perpetuity Of this Union,
will depend upon their triumph and sue.
cesslul establishment in The practice of the
Government. These have ever been nv
opinions. And l will here repeat (wha,
4 have often said that the Proclamation
J and the Force Bill embrace doctrines a,