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

% ~ ~ "a -AOoNL, VI NOACHf
On The amendment offered BY .Nr. Porti, -
per. 10 make The Union Bank a Stats -. u
Deferred in The House Of Repressnte,i.'-.
usry 10, 1888.
tREFoRTED FOR THE COLUMBUS DENo~,.,,
Mr. Speaker; so much time having been -.
consumed in the discussion Of this question.
not further trespass upon the patience of tb;.p,
were it not subject in which the portion 4 :
State that | have the homer, in part to r.o,.'
feel deep and most absorbing interest III.
teman from La Fayette (Mr JosseEnl Ia, =
pleased in his comment upon the few remark, -
by me this morning in support of this bill To 49,
my exertions in its behalf, merely to selfish nO,.,
and that belrended the bill because, iorOo4
had the promise Of a branch in Macon. 81, l..
sumo the gentleman will be sufficiently Hb~rHI,.s-
NIT his " own rule " to work both wsys: a.dE
the ground assumed, am to inter his oppos;,,O,t
cause he is not likely to receive similar accomn
dation in the county of La Fayette
Sir, consider the importance of this ne.su,.
greatly enhanced from the peculiar attitude or :
State at the present juncture First, as re.,,.
those endorsements which SO greatly aflet A..
her agricultural and mercantile interests; and vh,l
| TO certain extent are Doubtless remedabe bvI.
gisatiVe action. And, secondly as regards The !.
extension OF her territory, embracing arO. B..
tile and healthy region Of country, now rapidly ",
ting-up with an intelligent and cnterprisins po,p.
ton, and merely requiring the facilities necess.,.
develope its resources and extend its conlnsr.
render II among the most populous and wealthy ~
tons Of your ,errltory. And so far at least az i.
eastern section is concerned, honestly believe I'm
the requisite facilities could be amply afforded b
the passage of the bill under consideration, M
thereby speedily enable many Of your new count.
TO compete successfully with the original membes
of our fraternity, in the growth ard productions
our staple commodity; to the great increase Of a n
real capital Of the whole State.
| lwould not, however, be understood as wisRneS
limit the important advantages arising from the ope.
| rahons OF this measure to any particular seconW
district OF territory. But, sir in accordance with
the true spirit Of the proposed charter, would have
the parent bank and its branches SO located as
afford the like facilities TO every citizen throughOa
the State. The friends of this bill neither expse
or desire any sectional advantages: they feel that
our interest is common interest, that our STAPLE i
the same, and that every citizen of the State d
Mississippi, however exalted or however humble b,
sphere IN which he moves, is, Or should be. alisea
terestcd in her growth and prosperity.
Sir, I was in hopes that no gentleman, WHO ID.
dcrstood well the provisions Of this BILL would has.
charged us with an attempt to create monopoly, "
advocating its passage. do contend that if any bank
can properly be styled the "peoples Bank, desisnt
cd forand calculated to benefit the whole community
it's the one entitled the "Mssissppi Union Bank =
And call upon its opponents TO point out WHY Of
wherefore it could possibly benefit the few to ii.
: exclusion Of the many. Is it because the lands ip
cluded in the old counties are more highly improved
aud commanding, al present, higher rate Of value
per acre than those of the north and east, that Their.
fore the citizens of the former would be entitled 10
hold greater proportion OF the stock, and cousr
quently WELD an undue influence in the operations
of the institution Such monopoly, however, i
happily and eilectuuly prevented BY the provisom
OF the second section Of the bill, which auth,risc
+ the directors or majority OF them, 'that in csx
) the whole sum subscribed for shall amount to more
e than fifteen millions five hundred thousand dolan
TO reduce the largest subscriptions in such mannr
that no subscription shall be reduced in amount
while any one remains larger" And, that strict jas
tee may be dealt out to all parties interested tn,
same section further provides, 'lhat the deduction,
thus to be made shall be fair and equitable, with
out reference 10 any particular placeor places. ="
E Grant then If you please the position that an inc
quality does actually exist as to the true value o
real estate and that individuals are to become stock
holders 10 the full amount Of their highest valuation
y yeI al danger Of monopoly is obyated by sub
, ]ecung the largest subscriptions TO curtailmsn'
i "'lls' 'hose q less amount remain untouched.
10 From some intimatons already thrown out, 30
N are doubtless to be told i'll plain terms. as an ob,
y ton 10 the adoption of this BILL that Mississippi Ia
u already banking capital sufcient--yes, sir, even
? many Banks lor the common good, Why then
y would ask, in our time of greatest need, are d
y many and urgent applications for loans and aceOr
!, modatlons so frequently and 50 uncermoniously
!, Jectcdi Are we prepared to charge the Officers
4 our banks with such hearllcss Indifference, as
y turn deaf ear to the entreaties of their ieHop
citizens fur help, when they have actually an abu
d dance in store adequate to the supply Of all the
., Immediate wants. Or with the bare assurance
our part and the reiteration Of the assertion 10 Of
neshbor or friend, that We have too many banks,
L - n. 4 r
h heavily upon him' As well might you advise d
the weary and hungry traveller, that further excl
e else and longer abstinence would be the proper M
c thods for restoring the accustomed energies Of b
system. Or, as well might you say 10 the patieE
who IS scorched with fever and racked with pair
}. that no medicine must be administered for sa
peradventure, Of rendering his condition even MOI