Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-02-10

-, credit which such an institution would rea-
-, ,,,,o over the several banks already in opera
-, !, tins State. The iaitl Of State. which pro
80 within the past year four hundred thousand
~ cotton. and promises fair to INCREASE her
-, annuaay in an arIthmeticsl progress.on' De-
i, ,eaged for the redemption Of its issues would
,;ve a credit and character to the circulate
=. ,oslinm of Mississippi which she has never
.,nt,-s NOR uDan any other plan can possibly
hereafter enjoy Our exchanges would l'nnieda'eiy
;.,,,ov.. confidence be restored; the merchant eN-
-, rrom that exhsrbtant per cent imposed upon
t.- =, nresopt, in the purchase Of ais goods; and
q ..-;.,l,,rslist and the mechanic receive lar
-oa;valan, Cor their produce and labor. Mississippi
~ l,,,,s, h. s,ismatised with the odious cpl
Wli iS LIrnntcv. and her institutions diSenthral-
~. I en- ,ha, labyrinth by which they are at pre-
-, sn,,rphed win speedily regain their Woh'eu eli
80 AMI readily cooperate IN furnishing 10 our
x5n-r;,izens the appropriate anhdote to ihose dlt-
-: ,vhich I am sorry 10 say has hitherto en-
~ a., little the attention Of our legislative ac-
The LEGISLATURE Of Alabama, which convened u
lime lsst authorised the issue oil liVc inh"oh. "
dears in State bonds licensing the banks uPon wy
credit OF such issues 10 extend loans 10 lhe ostlIei
>of that State for the term CT three years, P1Fde "a
S. Ina, ins,alments Seasonabe opportunity was mus
sH,rled the prudent and enterprsng citizen for re-
,r;sv;ng his lost and ruined fortunes; and Tor any
s,,nre ep,barr1ssments in which he may heedessly
nyelye himself and family, the sin must inevitably
an mon his own head and not upon the head OF his
legislator.
with the same laudable intention, the legislature
Of our own State convened IN the early part oil tht
mast spring; but the only law passed during then
session having any immediate connection with th'
e,igencv of the times was the one commony kuoHl
a, the 6p,st note law" Its requstons however
or ir you please, its propositions, so lar as am IN
,ormed. have never been complied with; and conse
ouently the end which il was designed to accomplish
was never attained, and the ANXIOUS expeditions 0
your citizens still deferred. A new season has nov
Commemorative legislature is again in sesslon--ant
g the people, through their representatives, earnest
urge upon you the Importance, even at TINS late pc
raj of extending to yards them some share OF rclle
And. sir, as the most safe and expcdlent method c
attaining so desirable an object we zeaousy lnvlt
the cooperation of this House in the passage of
bill which we boldly and ftaressy declare, hold
ou, the prospect OF both speedy and pcrmlnen
relief
Sr,I also advocate the chartcrng of the Unio
Bank, beause Of the very favorable terms upon whc
il proposes to make its discounts. That person
# borrowing On mortgage, shall be allowed at III
end Of twelve months to renew their bSadS or not
for twelve months onger, during the space OF elgl
years from the date of their respective loans: provo
cd they reimburse at the time OF each renewal OF
eighth of the principal, together with the lniere
accruing upon the full amount" This single prt
vision most concusvcly shows that the Union Ban
10 not destined to follow in the footsteps OF thos
which we have already put in motion. No, sir,
is not intended as Shaving shop" 1t is Certain
MT intended to impoycrish the many for the benei
Of the few: but nobly aud generously proposes
mete out to every planteg, however small the iarr
according to his or her necessities.
Again, sir, advocate the passage Of the bill, b
cause am warranted in the belief that the bon
can be readily sold, and upon liberal TERMS and I
hank carried into speedy and successful operatio
call therefore, upon all these who are Of oplnp
,ha, the preeeiit harrassed and distracted state
our country can be ameoratel by the further lssu
of a sound paper currency, to aid VS. by the adc
# ton Of the proposed measure, IN eittchng an q
lect so desirable and praseworthy. call SIR, up
@ si those who are friends to banks and banking q
# orally, to reflect for moment upon the unortuh
snd lamentablc depreciation Of our currency, a
I, embrace the present favorable opportunity for
storing our circulating medium to sound and he
thy condition. cali sir, upon all those opposed
the creation of National Bank to cooperate W
u,in keepin down this "monster OF federal sirI
tan " BY the establishment of bank snliicten
powerful to regulate the exchanges OF our own Sta
and perfectly con genial with I'll irit OF delnocra
and state rights