Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-07-21
MISSISSIPPI UNION BANK.
10 HSs Errsllsaey,
GOVERNOR M'NUTT

wv AfAzaN2As - ~ =
Sn-T believe ihsre il no man in this State
unceanscisd with Banks, however Indifferent he
mar be about he interest Of this country, that
vii not readily confess That the dsplOrable con-
daioa % which our currency is now reduced,
whether L has arisen from an unjust banking
system. brought into existence either through ig-
norancs OF design, or from the foul manner the
Affairs Of lbe institutions under this system are
administered, iasiifes the most melancholy APP
psehensions, and calls for the exeFtion Of uhal.
ever wisdom Of mgour is lsf, among US, 10 assist,
IL not in removing, Al least in checking his evil.
In times like these, no honest man will remain
silent o. inactive. However distinguished by
talent OF property, IN The rights Of freedom we
ere all equal AZ we are Amenesns. the least
considerable man among US has an interest equal
to the richest and prcudest citizen in the laws and
constitution Of bis country, aud il equally called
upon 10 make generous contribution 10 support
Of them: whelher il be the heart 10 conceive, the
understanding 10 direct, or the hand TO execute.
Il a common CAUSE in which we should all be
engaged. The man who deserts The best inter.
ssls Of this State. at this alarming crisis, Is not
only an enemy 10 bis country. but If not inter.
ested in bank monopoly, traitor to himself.
Impressed with these sentiments aud feeling il
duty that owed 10 my adopted State that il
duced mo however humble my capacity to call
your attention IN former letter TO the evils Of
tho present banking system OF our State, and 70.
commenting 10 your notice the Now York Gen.
eFal Banking Law. Since that communication
ives given 70 tho public, large and respectable
meeting Of The citizens Of this aud adjoining
counties was held in this city for the purpose OF
taking the present deprecated condition Of our
currency into consideration when, among other
resolutions, Il was resolved, "That the New
York General Banking Law was best adapted 10 |
the interests and genius Of the citizens Of this
State" But, however faIiering this expression
Of the public voice j. 10 tho opinions advanced
BY me, were not firm ia tho belief that you are
alone aciuaied by The Ultimate good Of The State
In all acts in your Executive capacity. | should
never have addressed line 10 you on the sub
ject Of he currency.
The remarks In my last letter were Of gen
eral character; the object Of this, and probably
some others at future day, will be to pnriicu-
larizo the abuses Of certain banks now in exist
ence, 90 that tho public mind may be directed to
the subject. and iha. by an interchange Of ideas
you may glenn somo facts that have thus far
escaped your notice. From the long lis, OF
ssnk charters to DO found among tho acts OF our
Legislature, which. from their number, amount Of
heir capitals, and the loose manner IN which.
hey arc drawn up, must hand down to poslerity
hr lazy makers Of this generation as land marks
Tor prudence and Jorsihoaghi --the aggregate
AMOUNT Of these exclusive privileges being only
lome fifty millions IcoEicss would be some.
what at loss TO find out which Of these evils to
commence with, were il not that some Of them,
rom their magnitude and the amount OF injus-
ice which they inevitably must bring on US and
-. ,stcrily, entitlo them to prece-
insall on our p-s fass. that chsr dmneys nc
dsnce among this cieile Union Rank. + on.
Mississippi legislation, h an oh,a;n ~ VIZ
titled 10 preferences and ''' :" .ny1
undivided attention. =.
The enquiry naturally arises in the mind, when
10 hear Of the Legislature Of State charering
bank Of fifteen millions and a half whether il
win be productive Of good 10 tho citizens Of that
State but few, il any, would dream that so
grave body as Legislature could pass an UNI
constitutional law. But, sir, what will such men
shy. when Itsli them that the Legislature Of
Mississippi, in passing the bill chartering the
Union Bank, violated the most sacred principle
Of the constitution Of our State and also, the
express provision Of tho constitution describing
how The credit or the faith of the State is 10 be
pledged, and that in consequence thereof, this |
bill Il null and void and not binding on the peo-
pie. think hear the host Of these would.he
asislocrats howl al me as though had committed
saerilege, FOR making las they would say such
unfounded assertions. But 10 these gentlemen !
would answer, that am a plain blunt man that
does moi draw on my imagination for my facts,
and consequently submit TO the honest and re-
hecting portion Of the people Of this State, such
extracts from the constitution Of our State as are
reiaysnt to tho subject matter before me, and see
how fAr The Legislature has observed these pro-
ions Of the constitution in chanerlng this bank,
he limits OF letter will permi) and will
their decision.
first article Of the constitution Of this
and first section Of il, declares, I" That all
/, whom they form social compact, are
tights and that no man or sc, Of men,
ITO exclusive, separate public emou
vileges from the community, but in
Of public sorvicesn According to
don Of this section Of the constitu-
king company tina, has been esIab-
TAT does not or is not TO render any
ee--tha, Is to say, that does not pay
bonus for i,s charter or is not con.
Oh some internal improvement, is un-
.UfaL should like 10 know what work
nal Improvement this Unon Bank is to
nnecied with, or what public service il il
ndsr for the benefit Of the community
aose who now and who expect hereafter TO
control il may argue that the work Of internal
improvement has already commenced inside the
walls Of the mother bank, by improving the con-
dtion Of tho officers Of il some thirty thousand
dollars per annum aud that the principal public
service that il is to render is, that taxation fcs
deiraying the expenses Of the government will be