Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-05-26

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essl4 siiizen uho nay kBow aaF Femsay b. which
Flc susring night be aieyfasee u Riyr the SANG
publieily This e0uFSe You Vii recoieci vas adopt
ed dafag the prevalence filse eolcTa in tbs cona.
Try b. almost every intelligent rhyssiaa immediate
h ~ his having come in conssci with the disease
That fsefe mas great variety Of opiaosi enter
tsned BY shcse gentlemen IS 10 the cause q the
mahJy Is wei tno$n. set igw, If any, disagree as
to is effects aud many who did not pretend b. dive
info Ihc design 81 Deity IN huml@iug proud man
through this agent Of bis iaserHiablc wisdom, we're
abe 10 give to the public seine Wholesome remedy
ca the relief Of the saacriag patient
That Tie pecanisry eHibasEassmen,s Of our once
happy and prosperous country resemble. in its effects
this awful diseasc by tAc wide spread ruin and lor-
ros which lies caused, Is to me very obvious, aud
cmalslng tie unpretcaiiug physician, vii not say
ksew eli the csases ofaar deprecated currency, d
well a soae Do IL eGsefs but viii give simple state
meus Of fAers, ani Icayc an intelligent community
10 prescribe .c remedy.
have been citizen Of this etaie l6r manv YEAR
and of is portion Of believe, loag before such
thing asa Bill Of Exchange was known to 4 ma yoriy
II isa inhabitants; al that perioI, tins community
was prosperous and happy; business was confined
10 is legitimate channels and men lived within their
means, and without anticipating them. The grow |
ing importance Of tic place attracted tie attention
q many persons Of enterprise ard capital: Our /
small Village sprang up in few years 70 thriving
commercial town. The commercial portion Of this
as wei as Of oil other cites. required banking fcii.
lies, aud 10 supply dc demand there va. one small
bank located here after dis business conlolisd 10
- on smoothly OR a few yca7s, until sbou, the PERI
nd the unned States Bank ceased to exist hy s own
limitation. when our Legislature, through misgui-
deI zeal for the welfare Of their constituents, CHAR
tered number Of banks 10 supply wiih their issues
TIC place Of Che old United States Bank notes, abct
being Withdrawn from circulation, was GENERALLY /
supposed Il
Nearly MI the stock DC the Banks had IL course,
10 hc takeahy The czeas Of our state, who strained i
every nerve to borrow money 10 invest In these ,
stocks, valny hoping that they would have superior =
Claims an institution in which they owned stock, /
10 those who did not Oarciiy was blessed with two
rltIiese mushroom institutions which for short time i
discounted literally anil too indscrimnatey for The II
yool of the community; iur when money was 10 n,
'asiy obtained, Il induced those who could thus en- al
lily get IL b into wild spcculations in town lots ol
Wild hins anil other unprodnciiye property. Ailer b.
making these Investments they Of course imagined ~
themselves ric bot this feeling was short lived, for Y
shcn the general suspension took place, The policy y
{ the Banks appeared 20 change 1T once from their "
,rfncr course Of liberal discounts, 10 the most rigid "
hylock enactment ofther debts, as though they III.
'nded 70 resume specie @ytnents immediately but i
mpe time has eapsed b show that they never IN ii
'ndcd to BE- 70 hnnestt What then could have HI
cen the object III pressing licr customers, and II v
4 same time increase ileiF circulation. iluk il Il
squiFes IA WHY nsc sesc n Dissemination to sec d
le cbBerts ssfy large malaKty Of tIeir debtors 70
utivatcd SVslhh; and this cotton would procure Y
'aHd funds atpplhls where they would command y
femiltru Such customers as had cotton were told =
mi II was mol The object Of the Banks 10 press thean
ut IL they would give them The control Of their H.
rops, they would ship i 10 any point they pleased q
nj 10 those that did no, owe them any thing they e
lowed them 10 anticipate The probable proceeds;
nj in sane instances even more, Cor the bare priv b.
rec n sisiag Them the control Of the cotton. This b
at the anwary planters caught at, and their cot =
m was shipped 10 Mobile, New-York Or Liverpool, /"
III principally to tic two former. After the ship
tents are made, and alb at The time they began 70
ralize on them, exchange rose as if by magic from
sc per cent between Alabama and New York, 10 ]
wenty and twenty IKE per cent premium, and Mis- d
ssippi paper became deprecated in the same ratio; il
nd betwecn Mississippi aud Alabama, the exchange y
ot in favor Of The latter some ten 10 twelve per Ct
person unacPiaincd with the modus operaadi 81 u
hcse institutions, would ask how can this happen q
Wien yoa have such large amount Of finds ut
hose points where your iorcga debt is due Should
le address himself 10 one Of our merchants, hc woul .
Oh him with woc-bcgone fice, that d,e Banks !
lad nAntro 81 all the exehange aul that il was teir
interest to doprccatc their own paper for the pnr- il
'osc Of baying i up at As deep shave as they
.ouiI.'
Duh1 says the stranger, edocs not this liiIe-
resce IL exchange ~ to lie cfeiit of the planter,
with vshesc cSlion The funds were obtaiaed"
I" Oh, no! do sou thine il Is their business to fur
nsh s,o razor, and act te pecaaary barber and pay
The subject besie ar the privilege Of being opera
tel upon These are The great profits Of The Banks
the aaaoreraiioa{a Ia MEX Bddle) by which they
are eaaicd 10 declare large dividends and sns,ain1
the pricc Of their Stocks
q Dns bew are you merchants able to pay the dil
ieFcace IL esclrangth
" Wiz Ii has nearly vtnetl u.s. Int IN sril.dctencc