Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-02-03

era. candidates Nessrs B1l.ey and Henderson. lc-
CARED themselves to be 10 favor Of a National Bank
ani opposed 70 the Slb-Treasury scheme. Judge
Trrtter gave a directly opposite opinion. He was
opposed Ia a National Bank, and in favor OF the
course pursued by the present administration. With
a ful. knowledge of the views of oil the three gen.
tn men, the Legislature on joint ballot elected
Tratter. A direct vote against a national bank and
in favor Of the ub-Trea,ury scheme, could hardly
be considered more decisive OF the sentiments Of a
majority of the Legislature.
The following is Judge Trotcrs reply to the a.
boye queries:
Jackson, Nj. Jan. Goth, 1888.
Gentl,msn:... four polite favor Of the 9th inst
has been received and hasten to answer it. |
am fully sensible Of the importance TO the people
Of this country, ofthe several questions you have
been pleased to submit, and | take much plea
sure in furnishing YOU as | shall proceed to do,
an explicit and unequiyocal response TO each one
of the series of your inquiries in the order IN which
they have been propounded.
LIST. You have inquired OF me whether am in
favor Of the old Bank OF the United States! |
answer, an not
I'd. You ask me if | am in favor of National
Bank of any description answer, am not.
am of the opinion that Congress has no pow
er TO create banking corporation, and that II she
had, II would be hlgy dangerous and lnexpedlent
to do so. To the Sd inquiry propounded to me |
reply thai the project of an exclusive metallic cur
rency Is IN my opinion entirely impractlcable,
| and unsued to the habits, the circumstances, and
the commercial prosperity Of the people Of the
United States. That 1t is opposed to the credit
system, which under proper regulations and by a
proper organization, is highly conductive to our
general interest and welfare. The idea of an ex-
elusive metallic currency, is no where seriously
entertained. The question has been no where
made between credit and no credit. The lead
ing inquiry IS how credit shall be organized and
established SO as TO subserve the purposes Of a
| sound currency ond uniform medium of circu-
atlon and exchanges. The principle on which
we should act in reference to this subject, is, in
my opinion, well regulated system of paper
credit Tor our Commercial transactions, with gold
and silver for our neghborhood and domestic ex-
changes. In relation to the Sub Treasury scheme
to which you have been pleased to direct my al
tenton, will SIMPLY remark that the separation
now existing between the Government and the
Banks has been brought about by the operation
OF law on the actual condition of the banks since
they have refused to redeem their issues and LA
btes, and must and should, continue unit, these
causes shall be removed and that the propriey
OF the recommendation OF Mr.. Van Buren, to per-
peiuate this separation and to provide other fiscal
agents IN lieu of the deposte banks must depend
on future contingencies. In the present posture
of the Banks and the actual condition of our cur
rency, can see no objection to the plan Of the
President, II the contingency shall ever arise up
on which tie public revenue may be safely dcpos-
tied with the Banks the deposite should in my
opinion be made special one, not subject to be
used as the basis Of banking by the institutions
employed:
am Very Respectfully. your obd't. serv't.
JAMES F. TROTTER
To Messrs. William DAVIS, and others.