Southern telegraph. (Rodney, Miss.) 1834-1838, 1838-01-16
G0Ues'saOr's es1cssHge.
Gentlemen ofhe Senate
and of kie House of Representatives. :

" '''.'7oh "a ouiS'idi pressure ana pros
ration OF commercial operations, growing
ont OF the general arrangement of orr fiscal
Concerns; when every energy has been ex-
erted to bear up under combination of the
most untoward scircumstances, and when
tho distress brought upon the country has
been borne with unequa'led patience by a
warm and coniding people, reIyinr upon
me wisdom AID action of Congress, for the
adoption of some moa sure that should at
least wear the appearance of general re-
iiei: we are given to understand that we
must shift for ourselvcs-that the regulation
81, or interference with.thesc great interests
does not come 1MitRm the province of that
body: and In obedience with this ex.raorai-
nary idea, nothing has been effected beyond
providing for the mere fiscal operations OIL
the Government through the Treasury De-
partment, and the extension of the Custom
house bonds. Chagrined and disappointed
at this avowal, and the selfish policy pursu
ed by the government, the patriot tslrnS
with di gust from the cold Indifference with
which the best interests of hS country had
been neglected, and repoScs with renewed
confidence upon the state authorities
Ihrown upon our own resources, the neces-
sity of your action becomes the more ur-
gent. A, such IA juncturc, your arrival, as
the immediate representatives of the people
OF Mississippi at the seat of government, is
suspicious, and will be hailed as the pre-
cursor of better things.
The existing embarrassment of the COM
munity and lis impending distress, call upon
you under the emergency, to atone in some
degree, for the improvident measures and
omissions of previous legislatures, by restor-
ing, as Tar as Your action can effect it, that
wonted confidence and aid to enterprise and
business, upon which the country has been
accustomed to .c!y and prosper.
| do not concur in the opinion 50 current
" advanced, that Legislation can effect no
hing; and far less am disposed to indulge
in cold and unfeeIIng lectures upon industry
aud economy, when many of our fellow cl:i
zens are about to be stripped Of their las
| piitancc. 1t is true that there are instan-
ces Of individual distress, which no change
of times, however favorable, could relieve,
and which are consequently beyond the
reach of your aid: but this remark is very
far from being applicable to the community
al large. There is a general embarrass-
ment hanging over Us, which, for the mo-
mcnt, impedes the rapid growth and pros
perfty of iiaa state, -.bu, the rich product of
the present season, with the addition of that
Of the next, will go very far to reIleve the
community from Us present difficulties; and
the huoyant spirit-the untiring energy,
aud the persevering esiterprizc of our cit-
zens, need only to be aided by the credit of
the state 10 rise superior to these severe, but
temporary reverses.
The pressing demand for money, and the
very limited facilities in obtaining it, make
it ncumben; upon your boly to adopt some
measure that may enable or citizens to an
ticipate another crop, and to retain as a
spring to industry, a portion of the means
now in their possession to operate upon.
| Islbmit with due Difference the following
suggestions for your consideration, as bear
ing more or less directly upon the subject,
and presenting the most probable means Of
eifccting the object. First,-whether ex-
isting circumstances do not require some
action that shall sustain the banks, and at
the same time secure to individuals an ad-
di:ional accommodation--whet the sane
ton Of your body to the charter of the 6 Mis-
sissippi Union Bank,'' should not he im:nc-
diately followed by certain amendments
whether our present difficulties d. not de-
,nand your prompt action In authorsing the
issue of five or six millions of dollars in
State Bonds-and lastly, whether an ex-
preston of your body relative to the estab-
lishment OF National Bunk may not be
proper. 90
/ As the value of orr circulating medium
depends upon the soivency of the banks,
al, Ill,
of their issues into specie; knowledge OF
their true condition is necessary to the re-
stora:ion of. that degree of confidence to
which they are justly entitled, as well as to
/ enable yon to form some estimtte OF their
j ability, and the relief that may be reasona-
hly expected from their further accoaino-
slations 1t may be we'll therefore, prepa-
ratory to the adoption OF such remedial
measures as you my deem necessary,
briefly to recur to their history, constitution.
and management, in order to detect the de-
Fl fec.s and abuses, if any exist or have been
practiced, and the agency they may have
had in producing or increasing the derange-
ment. 5sea
! During the existence Of the old "Blnk
Of Mississippi there was, as conceived
from its very limited capital, an evident inn
b!ity to supply by its issues a circulating
currency to answer the real wants of the
+ country: and under this impression was
DESTROYS that its charter should be amended
for the purpose of increasing its capital
and taking in the Safe as a considerable
stakeholder, and therefore 5s'ipersede the
necessity Of crcaiing other banks: but the
s proposition was objected to, and the urgen
aonnand. of the community led To the estah