Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-09-15

controlled by few mea selected by the stock
holdeSs, who consist offorelgners that are oducat-
ed to hate republican institutions, and of the cap
itallsts OF this country, who ale almost invariably
Federalists IN favor of strong Government, OF
IN other words, q monarchial form with veil Of
RePublicanlsm thrown over it, to retain the exter-
nal forms OF our present institutions and the mere
nameOf liberty! The president and directors Of
such Bank must do as all other hireinEs do
obey the will Of their masters, or else they will
ose their places When commanded, they must
use their power to effect certain pecuniary and po
ltcal objects. When it is secessary 10 bring a
democratic President into disrepute, they must
flood the country with their issues, which nrariu-
bly, produces corresponding expansion on The
part of the State BankS--then they must com
mence the most rigid system Of contraction of
their circulation; the State institutions are com.
PEELED to do So in self defence. THIS creates ne
cuniary distress and want Of confidence through
out the land, all of which is attributed TO the Ad
ninlstratIon by The servls press in thelr employ
This was the course pursued by the denationaz.
ed Bank Of Philadelphia in 1886, which in the
short space Of four months, increased its circula
ton from thee to twenty millions Of dollars and
Immediately after commenced the most rigid con
traction To this fact alone, is to be attributed
most of the evils under which we are now suffer
ing. Do those interested in the Bank lose BY
this movement On the contrary; for those be-
hind The screen know when 10 dispose of their
property, that.they may reinvesl when the coun-
try is most depressed, and property much below
its intrinsic value. so that by this one financial
stroke Of policy, they effect the double purpose of
giving additional strength to the Federal party,
and make money for their lords and masters al
| the expence Of the honest and industrious, but
| unfortunately, the unwary portion Of the people
Much is and has been said by the organs of
the Federal party of the great Importance Ma.
| toual Bank has been TO the country in conse-
quence Of its controlling both foreign and domes
tic exchanges, and ditrdys furnishing them at low
rates, and one would suppose, who was not in
possession Of facts connected with this subject,
that il is utterly impossible tor them ever 10 be at
such rates as could be borne by the people, with
out such an institution. This was the cry among
| the gentlemen OF that party, as TO foreign ex-
changes n particular at the called session of Con-
gress in 1897, Immediately after the general sus.
pension Of specie payments, when in conse.
quence of the previous over-tfadlng Of the nation,
/ exchanges were some twenty per cent in favor Of
Europe. But much to the disappointment Of
these orators, who would fam make YOU believe
that United States Bank is panace for all the
evils of the nation at large, and for the individual
losses OF each citizen IN II, il so happened that
IN the short space OF three months after this state
| of things existed, that foreign exchange not only
| came down to par, but was actually some five or
six per cent in favor of this country, a circum.
stance unparalleled during all the days of Nation,
i al Bannnss AT the last session of Congress this
branch Of their iaiinentat'oh heing cut off, the
whole current of their woiul strains nia;d TO run IN
the only channel left them, that Of domestic cx-
| changes, which one would think when listening to
them, were never before deranged, but that dur.
/ ing the existence of National Bank, all money
ed exchanges were equal throughout the Union
but much 10 the discontinue Of these wofuI ora
tors, we lind on comparing the prices current Of
| the years 1925 and 30 IN period when the Unit
/ ed States Bank was at the meridian height Of its
glory aDd power with those Of 1898, that between
all the States in the Union, exchanges are al lou
en- rates now than they were then, with the excep-
ton of four States only think may safely
predict that one year will not elapse before gen
eral resumption of specie payments viii take
place throughout the Union, when domestic ex-
changes will be- furnished at as low rates by State
i Banks as they ever have been by United States
Bank. Even notc exchange IS only one per cent
between Ohio and Philadelphia, and one and
r half between Ohio and New York, which is as
low as it ever had been during the pamieSt days
Of he great reguldiorV
BY what moral right, does the federal party de.
mand National Bank 7 Do they consult The
welfare Of the nation in making it Ia my opin.
ion any rejecting mind must decide against them
Then let me ask what is the great object so much
sought for in obtaining III Power! yes, power
to control the councils Of the naion and to riyer
the bonds of commercial vassalage which the
South has heretofore been under TO the North
i which they can alone effect through the nstru.
mentality OLA United States Bank / his, Eel.
low citizens is the leading measure Of the party
to which MIR. PEBBLES belongs, and he has pledg
ed himself repeatedly 10 vote for no man who may
oferJor the Office Of United States Senator (shoud
he be elected) that does not pledge himself to ad-
| vocate this measure
Is not ours representative Government Il
ii not composed Of the representatives Of the PEG
pie, who swear to support the Constitution Of the
United States Did not our forefathers pledge
"a their lives, their fortunes, and their sacred hon.
or" 10 defend inyiolac the principles Of the de-
claratiOn Of independence, which were perpetuat
ed by the adoption Of that Constitution, until i
was changed BY the constitutional vote of the PEG
| Pel Until such change is made, il declares any
act Of Congress coming in conflict with its pro
visions to be null and void. Such was the pro.
found wisdom Of its trainers, that it has not beer
deemed exPedient during the lapse Of more thar
half century to make any alteration in IT, This
j Constitution gives the exniess mower 10 CONGRESS