Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-08-06

electors of the State of Mississippi as a
Candidate for the Office of Auditor Of
Public Accounts, in my circular, have
declared myself, in favor of National
Bank, opposed TO the sub treasury sys-
tenn, and in favor of a judicious system of
Internal improvements; and as am not
DESTROYS Of combining myself to the prac-
tice Of opposing measure, without sta.
TING INV reasons for so doing, with your
permission, through the Argus will first
state my reasons for being in favor of a
National Bank; and at some subsequent
opportunity explain myself upon the Sub
Treasury system, and Internal Improve
ments. In all cases where ] have had
occasion TO quote authority, | have en-
deavored so to quote as TO arm myself in
defiance of contradiction, by referring to
the best authorities. My motto is "Truth
is mighty and will prevail" On the con-
stitutionality of such an Institution shall
say nothing; inasmuch as it has been ar
gued pro and con by the first statesmen of
our country. Ny remarks will have
bearing exclusively on the expediency,
authorised by part of the 9Th section of
| the LIST Article of the Constitution of the
United States which reads thus: 'To reg
ulate Commerce with Foreign Nations,
and among the several States, in con-
nection with the saving clause: "To make
all laws which shall be necessary and
proper for carrying into execution the
/ foregoing powers" and as there cannot be
found in the Constitution any authority
for the purchase Of Louisiana or Florida;
we presume the Government deemed it
a measures of eTpediency-and IS It not
equally as ExPEDIENT TO FURNISH TIE
r'oUNTRY WITH A SOUND AND UNI
j FORM CURRENCY? Commerce the
basis of national prosperity, requires the
fostering care of a patriotic Government.
A uniform currency is the cement which
renders firm that basis, TO preserve which
requires more than the judgment of SIN
ole. individual, even should that individual
be the President Of our Republic. Rulers
are. seldom commercial men. A Govern
ment having the true interest of their
country at heart, will never tread upon
such holy ground as the alteration of the
Currency of their country, without first
seeking advice, in the great emporiums Of
commerce.
: Mercantile men have an eye single to
: punctualiiy in all their commercial rela.
0 lions, as the only means calculated TO in
sure success, which cannot possibly be
e deserved in any country, without SOUND
4 and uniform currency, and we all know
. that the success of agricultural pursuits
(more particularly in the State of Missis
sippi, a cotton growing Statel mainly de-
ponds upon TIE success of our commercial
relations with Foreign Countries. These
| are facts incontroverlibIe. The late Uni
n ted States Bank. ever acted as a restrictol
; to excessive issues on the part of State
e Banks, and corrector of our Natlona
: currency, not only throughout the Union
! but in all our relations with Foreign Coun.
: tries In fact, it had, as National Bank
; established for the United States, credit
J abroad. excepting only the National Bank
: of England,) unprecedented in the annals
of the history of any Country. Here we
; perceive the benign influence of Power
e controlled. And as uncontrolled Power
is rarely exercised with as much Justice,
c as power under control, l will as briefly as
possible show its baneful influence on our
D National Treasury, and then refer TO its
f unparalleled influence on the monetary
! affairs of our state. | would wish to be
distinctly understood by the electors of
the State of Mississippi, that il is not for
party purposes alone that l make this
statement.-Facts will here be exhibited.
which can never be corrected by a Sub
Treasury system, and which ought to
claim the attention, of the rejecting of all
Parties. The Sub Treasury System would
but add fuel, to the flame of corruption,
bursting forth 10 every part of our once
happy country. In the words of Crockett,
Il hope to see the peoples eyes, with the
dust blown out of them, once more, before
the peace and happiness of tn S country is
eternally destroyed.
Power controlled.
During the Administration of Mr.. AID
ans for the years 1s25-'26-2 q IS
according to the Secretary of the Treas
ury's report, officially made to Congress
Jan. 9Th 1888, we find that there was re-
ceived and paid away on behalf of Gov
eminent eighty six millions, three hundred
and fifty thousand, two hundred and sixty
two dollars and thirteen cents, and that
the incidental expenses incurred in colIec-
ting the same amounted to three millions,
five hundred& ninety. eight thousand, two
hundred and fourteen dollars 81 &c cents,
which is properly tax on the labor of
the people of 4 per centum, so far as the
amount of revenue is concerned, which
at that time was under the supervision Of
the late United States Bank.
Power uncontrolled.
In the year 1880, hostilities were COM
menced between the Government and the
United States Bank. 1t dared TO oppose
the mandate of the hero From this cause.
IN connection with other circumstances, il
was satisfactorily understood, that the
Bank would not be re-chartered, in the
event of General Jackson's reelection, of
which there was no doubt. Retrench.
ment and Reform, twin sisters and orph.
ans, and in the opinion of the democratic.
party without protector, were in 1929
placed under his Teen. J's) especial pro-
lection, as President of the u. States; with
what parental care he treated them. is too