Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-01-20

whole banking system should he thoroughly re-.
formed aud regulated by Legislative provisions;
so As otiectualy 10 prevent arecuucuce OF dlslS-
tsrs similar TO those which now cypress the coun
W This can only be effected by. the enact
mcnt oia general law regulating all our Banks,
and making II their interest 10 resume specie pay
ments 1t an early day. Exchange on Europe hl,
already fallen so low as 10 cause the demand Tor
expectation TO cease Nothing but the lriH aud
concert on the part Of the Banks Is now wanting
10 enable all that are solvent speedily to redeem
their issues, and afford TO the people currency
equivalent to gold and silver. All the Bauk- IN
this State have forfeited their charters, by failing
to redeem their notes, and numerous other viola
ion, of their franchises. The present is an aus
Plcous period for piacag them under salulary
control Banks have no more right TO close their
doors and refuse To redeem their notes IN specie,
than individuals. Their asls bear directly on the
business of the country, and the value oil property.
4 prudent regard for the best interests OF Soclctf,
requires that all of them sho It'd be compelled to
! act harnaniously-hcd subject TO a most uGid
examination, and at all times kept under the con
ttol of the Legislature. Nor should 1t be forgot
ten, that the regulation of the currency is a soy
crcgu power Of high sud delicate nature, and
ought not, and cannot, consistently with our re-
| publican institutions, be conferred exclusively
upon corporations, aud placed beyond LegI,ll-
/ tive control.
The Constitution of the United States 9ioh-
bits the States from passing any lac lmpaung
the obligation of Contracts. This provision ap.
! plies as well to contracts entered into 10y banks,
al, individuals Any law postponing the cocc,
/ uun of debts, or change the remedy, SO as 10
! hasten or delay the collection o existing habllI-
ties. would impair contracts, aud nevsr will &c.
cciyc nay approval.
Apart from the constitutional objections, con
slider Il both unwse and unsafe to taupcr with
the Law Of Contracts, at period Of great pecu-
mary ombarrossmeut.--l has tendency TO de-
stroy confidence and make the creditor more any
ious to enforce the collections of his demands
the means Of debtors are thus often absorbed
III the costs and expenses Of litigation, 10 the
great injury OF both parties spuIt Of iorbcar-
ance and accommodation will soon exlucate tie
| country from It's present embauassmcuts and
nothing would tend so much 10 bring about this
desirable result, as fixed determination to pre-
serve the hitherto unsucd character Of the State,
and to mako no attcmPtto legislate the people
out Of debt
Let those who complain so loudly of the pres.
sure, produce more, buy less, and look to them
selves instead Of Government, for relief. Times
viii then get better, and the country become
llourIshlng and prosperous.
The wise and energetic measures or the late
Administration, caused the Indians to cede Their
posscsslye right to all the lands they occupied IN
thus State. Nest d tA9WhBNe alYms mas caused
our State to populate with great rapidly, and as
every portion ofour territory aud PoPuIaonlsnow
| liuIy represented IN both branc cS Of the Lcgs
ature, the period il suspicious for the commence
mcnt ofan expanded system Of Internal Improve
ment. Nearly every portion Of the State is IN
tersecicd with Rivers, which, at little expense,
could be made naylgable. Clearing out rlycrS
and making good roads, enhances the value Of
Iandlnc ceases the revenue and resources OF the
Smic-promotes social aud profitable intercourse,
| and prevents sectional leaousles.
Situated as we are in relation 10 our domestic
institutions, well organIzed Militia is indspcn-
-blq TO our safety. A commendable spirit cx-
ISIS ia many parts Of the State Volunteer Com
panics are organized equipped and discipline,
aod will be our surost reliance IN the hgur of
danger Twenly-thrce years ago mis- doy. thc
| F""Il'c''s' VI ""' "C'' 'hIi.r Territory, combat
ted SuccessI",'y ,ue disciplined leglons Of BIZ
tar, on he Plains of New Orleans, and received
the public commentator Of the gallant chcrain,
whose services, civil and military, have conferred
lasting benefits on this State, and whose name
viii always be held in respect and yenoraIon by
her sons.
The dsorgauiaton Of the Militia, has partly
arisen from lhc frequency Of designations; to cor
rec. thi, abuse, viii not accept the resignation
oc any officer, unless satisfactory reason be as
signed and will, far as my other engagements
permit, review tn, various regiments, aud hold ey
cry officer to a strict discharge Of his duty.
Our Constitution recognises in It's fullest ex-
tent. equality of rights and equality Of privileges ;
every citizen is eligible to Office, and has the
right Of voting for every officer Of the Govern
mcnt This renders it essential that all should
be cducalcd-gnorance is the main pillar Of dcs-
potism, an enlightened people can never be en-
shaved. BY the establishment Of universities Of
learning, Al eligible points, and free schools ~
every township, the advantages Of education %l
be accessible to al, and the avenues 10 honor,
wealth and fame opened to the children Of pcnury
as wen as those Of allluonce.
Our State Justly labor5 under the imputaton Of
great iayty 10 the execution Of her penal laws ;
acts ot llNie.s violence are often committed with
uupuuly, aaj ebulltIons OF popular feeling have
occasionally interrupted the course Of Justice
The erection Of a penltentary will secure the
prompt execution Of the law, Being firmly per
,uaded, that under the existing state Of our laws
and the feelings Of society, cupnIs are rarely I'M
Justly convicted; shall let the law take lis
f course, and not lnterpose the executive clemency
f excep, IN extraordinary cases. Examples should
{ be made, and the majesty ofthe laws indicated,
The highest man in the land is not above the
{ law, the lowest is not below II and "no one car
be deprived of life, liberty property, but by duo
course Of law"