The Pearl River banner. (Monticello, Miss.) 1837-18??, 1838-01-20

cline and . mnst valuable staple, we
We, FIND The Sale involved ~ genera
distress with a currency Deprecated AZ
home and uncorrent al abroad. 'hese
disasters have been brought upon US -
The epo,mou. increase OF Thanking eap'iai
over issues ol paper money WILD AND
visionary schemes Of speculation, ana
reckless rxiravagenee. 4 great increase
OF The circul.,rg medium eheapens Tue
value OF money- raises nom'nal'y lhT
price Of every sp' cies OF pr"periy-eau'-
es many to abandon their usual oceupa'
tons and industrious habits, enter the
r.na Of speculation, and at last, involve
themselves and their sufiiies 10 hopeless
bankruptcy.
TIE prlte Of our only export, Cotton
is entueij dependant Oh The deI'.:nd anu
currency abroad. snJ does not use and
fall IL proportion TO Other articles Debts
incurred wntn money IS plenty, and pri-
ces high generally remain 10 be PAID our
OF IL. produce oI Tue so,l al law prices
I The Banking system iss, interviewer
with our habits, buslu.s and tonI ac!s,
tina, II has, perhaps; become a necessary
evil, aud cannot speedily be traJiea',
without iuyoIyng tnr wDoie State IN utter
rum. .4n lmperlous regard !ai The wei
lare OF The people, telunesthst CUR "noi.
banking sys,eh should he thoroughly re-,
formed and regulated by Legislative pro
visions; SO ss ed. ctu,lly to prevent IL
eurrcuce OF disasters s,mi,ar 10 thos'
winch now cypress The County ms
can only be elected uy the ensctmrnl OF
a g nerd iaU IeniaSns al our banks, snG
making IL taeIr interest 10 r. sumo spec,e
paymtns al earlier day. Exchange on
EIiupe has sIleady fallen So low
low a. 10 ,ause the JeMand Tor specie toi
expectation 10 cease. Nulhing but lne
aiL and concert on th. part OF tbr Banks
is now waiting 10 tnabie all that are
sol.en. speedily TO redeem their IS
sues, and afford 10 the Feoplea curren
cy equiv sent to gold aud silver. iii tne
banks 10 tn, Slate have forfeited Their
chalttrs, by iaIilng to redeem their notes
anu numerous other Violations OF Their
iiancaIses. The present IS an auspiCious
perlod iur piae,ug 'hem under siu,ary
eontiol. Banks nave no more righ, TO
ciose doors aud refuse to rtdeeM ihe,s
notes IN specie, titan Individuals. Their
acts bear direciiy OH bus ness Of the coun-
tf., and the value ol prop" ~. \ pru
denl regard tor the best Interests VI snci.-
| y ], rrqu.tes that all Il them should bt
co,np,Ie / 10 act ha,monou,iy. held sub
ject 70 rigtd examination, and al all
t,nes Kept under The control If the Le
g'sialuIe Nor should II he forgotten
itst regulation OF The currency is so.er
.iga power Of high aud DELEGATE nature
anu ought noi, and cannot, CONSISTENTLY
with oui iepubtcan institute cns, be con
tered txe'usI'ei, upon corporations, ant
placed beyond Legislative control.
ihe Constitution OF the United State,
prohibits the States ffcm passing sny lua
snP5n,ns the obligalioun 81 Contracts
IBIS provision aPp',cs as well to con
tracts enieled INTO by banks, as ind,,ld
us's .in5 iaw postPoning the collectip.
Il. ue1ts exchanging the remedy, so a,
to hasten or delay the collection Of eAis
ting lIsbil'l'e-, would impair contracts s
never II receive my approval.
dpaIt IRON the coHsli uiiotai objection.
4 co''@luer u bod, unwise aud unsafe lc
taupeT With the Law Of Contracts a, :
period OF great pee'lnisr'ry enbarrsss
in.it.- -it has tendency 10 destroy con
lid.0ce, aud make The creditor more aux.
lous To en'uree The collection OF bis dr.
mains; the means OF debtors are thu, Of
ten absorbed IN the costs and expenses o
litigation. to the great injury oil both par
ties. i sint OF iorbearance and accom-
mudat'on will soon eslficate The countr,
tom It's present eu b,rrassments; ard no
tuing would tend So much Ia brny ahou
. the desirable result, as Fixed Jetermm
alton IL preserve hitherto unsuIied char
acl.r VI The State; and 10 make no at
, ieaptto !rgisale The people out Of de bt
L., ihose 1he complain so loudly o
the pressure, produce more, buy less, am
/ louk 10 themselves Instead 81 Government
/ tor relief. Times viii then get better
and The country become Furnishing an,
posi efous.
Il The wise and energetic measures o
, the late administrator, caused The In
dians TO cede their possessise rIgh, to al
, the land, they occupied IN this State =
! Most OF them have already removed, ant
the others viii soon follow. This bs
CO used our State TO populate with grea
rapidly, and as every ptrtion Of our ter
{ ritory. and population is now fairly repre-
: scented in bo.b branches OF the Lesisls