Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1839-11-16

t;s Litter 70 the Madison Committee
The letter of this gentleman to his
s-.,.S, IN this county is one Of the most
r,,l,r documents il has ever been our
4o,to read. Although addressing com
-,,t,ee. three Of the members of which
&c Bank Directors, he deals largely in
:. slang of the day. Of banks and their
.5-oeat,s. and alleges that the banks
,lous. are al war with him and his party.
A. anv other time than when the "sci-
snce Of politics is the science of decep-.
tion.- and the people are not lost TO .the
yo;ce of reason, the petty denlagoguism
Of attempting TO create an impression
90 false would render its author an OBJ
&c, Of scorn as his letter is deserving of
,itv and contempt. What is more IRA
,;on,l or unreasonable than the allega-
,;on that il is struggle for "Bank supre-
mscv- by the State banks and the peo-.
pie. and If the banks-(i. e.) we suppose
he means the Wing party succeed we
preme and omnipotent as that of any
European despotism? Yet Mr.. Walker
makes the allegation, that it is now
struggle between the State banks and the
Veople, for he cannot mean National
Bank, for we have none. And the next
sentence is, "Nor will the creation of
National Bank change the issue. No, it
will only render bank power more for
midsble and irresponsible" Now cam
any reasonable or rational man believe
that the State banks are actually strug-
Ing TO get hold Of the reigns Of Govern
neni, and convert it into a European
Ses2otisml The assertion is foolish,
ridiculous, and absurd, yet the learned
salesman and profound Mr.. Walker as
serts H.
Bot, asks the Senator, "Why is the
South asked 10 aid in creating and locat-
ing At the North, great consolidated |
National Bank with capital Of fifty |
milIionsl II is 10 give this great Nor
,hern Bank, the power to control the ex-
changes, commerce and currency of the |
country, and as its friends say, the regu- |
iation Of al the State Banks. II is then |
direct blow al State sovereignty, for it |
IS to supersede the people and legisla- |
lures of the States, to take their own
state Institutions out Of their hands, and
% put them up or down and 10 regulate
them at its pleasure, and in doing so, TO |
control as efTectuaily the rights and in
,eresis of the people of the States, as ifl
they had no State Governments whatev-i
err "If National Bank" says Mr.. |
Walker, .'is intended as its friends say, |
20 regulate the State Banks, it is direct |
blow at State sovereignty" and yet the /
Senator has alleged in sentence or two
above that the State Banks are struggling /
Tor the power 10 establish government
as supreme and as omnipotcnt as any
European despotism." .'Aid men SAYS
Mr.. Walker ''in putting down these State
banks and their advocates, or they will
establish a despotism somnipotent and
supreme:' and the creation of National
Bank will only augment the evil for If
as It's friends say lit is to regulate the
State banks, it is direct blow at State
sovereignty, because it is to supercede
the people and the legislatures of the
states, TO take their own State institu-
ions out OF their hands, and TO put them
W or down, and to regulate them at
Pleasure, and, therefore, National
bank, IL it would do this, is to be eschew-
Cd and yet these State banks are strug-
ing 10 establish "despotism omnipo-
kni and supreme"
Precious reasoning this, and fine logic
ol Mr. Walker. Again, Mr.. Walker
aEs, LATER asking If the people are
ready to surrender all control over their
BANKS, that are struggling TO become our
masters, to an frresponsi5le Northern
Monarch Bank Were we even disposed
20 lay down our privileges of free men
and become the subjects of Monarch
oanS' II cannot with its mighty powers
regulate our State Institutions Now
"e ask IN the name OF common sense,
National Bank cannot regulate our
S'a'a institutions, how can ii be Mon-
area bank, how can we become the sub
f''s OF that Bank, that cannot rcgniate
'ne banks Of our own creation7
nut National Bank sscannot regulate
s''s'ate Institutions therefore it would
70. Dc 'direct blow at State sovereign
We are glad Mr.. Walker has made
~ Confession, and now hope, we will
.'aF no more from ais follOnsrs Of a
SA'ional Banks being dangerous to
'a'e sovereignty.
NO. National Bank sscannot control
~ State institutions" for says Mr..
walker, SIN lsOs--s, and from 161s-'I9
1876, the State Ranks failed almost