Columbus Democrat., 1839-07-27
NATcHEz, June "a, 1899.

minatlon announced IN my late letter 10 retire
from public life at the end of my present term, is
calculated to produce division aud probably defeat
in the ranks Of the democracy Of Mississippi.
Having been apprzed Of the great Improvement
IN my health since the date of my late letter. YOU
ask me, IN consonance with the wishes ayowed by
the democratic press and party Of this State to re-
view my determination as heretofore expressed,
and request me TO become a candidate fox re-
election to the Senate of the United States.-
FROM your statements, and other concurrng tes-
tlmony, any mind is brought reluctantly to the
conclusion, that from no merits of mine, but
rom peculiar circumstances existing at this pc
rod, my refusal TO become candidate for re-
election might result, as you anticipate, in dlyi-
sion IN reIatlon'to the question Of my successor,
injurious to the prospects of the Democratic party
IN tins State. 10 the democracy of Mississippi
am under obligations beyond the power of lam
guage to express. BY them have been elevated
to my present station, and by the cheering voice
OF their approval, sustained amidst panics aud
pressures IN every measure and in every vote
throughout my entire course in the Senate Of the
United States. For such party there is no hon,
orable sacrifice which am unwilling to make.
Actuaed then by these motives, | yield at your
| request, my own wishes and determination as
heretofore expressed, and consent TO become a
candidate for reelection. Ny health, it is true,
has continued TO greatly TO improve since the date
OF my former communication, and my medical
advisers now indulge strong and well founded
hopes OF complete restoration. Whether these
hopes may be darkened by again consenling TO
embark in public life, leave in the hands Of
benlgnant providence, conscious that there is no
cause in which could fall with greater honor,
than IN endeavorlng TO promote the asccndancy
OF that great and glorious party, which since man.
hood has received my first and every vote, and
whose principles are inseparabIy united with the
pcrpeny OF our free institutions.
The present period, as YOU Justly observe. is
one Of great and momentous interest aud the
question truly Is, whether this shall be govern
ment OF the banks or Of the people. If the bill
to organize an Independent Constitutional Trea-
sury IS again and permanently defeated, if the al
lance between bank and State is re. established,
IT banks, State or National, are again created the
only keepers and disbursers of the public money,
and all the operations of the general government
are made TO depend upon their will, we shall al.
Ituuf iHNc suIh ll(b NtspOuSl1. y HUNtlilIl'llt
OF one bank or OF thousand banks is not 60
vernment Of the people, and the effort now made
to maintain the position, that the officers Of bank
ing institutions, neither selected or removable by
nor responsible to the people, are the only nd-
viduas to whom can safely be trusted the guar
dlanship Of the public money, is an lnsolent and
arlstocratic demand, false, arrogant and despot
&c pretension. which denies the virtue and lntelll-
genco Of the people, which denies the capacity Of
the people to select faithful and competent oii-
GERS TO administer the public revenues, and claims
for the banks, together with their other exclusive
privileges, monopoly Of all the virtue and intel
Igence, as well as Of all the money and power Of
the country. If the banks should be entrusted
with the sole power Of appointing their officers
the keepers and dlsbursers Of the public monies;
why not permit them also to select all the other
officers of tho general government including the
Secretary of the Treasury Why not permit
them upon the same principles to dispense alto
gether with President Of the people and Sc
nate and House Of Representatives, and through
the medium Of sef-consltuted, sclf-renewa-
bic, and irresponsible bank directory, to direct and
control in secret conclaye, all the operations Of
the general government. And under what cir
cumstances is this extraordinary demand by the
banks now made for the use and custody Of the
public money! 1t is made al period when the
government was reduced to bankruptcy by the in
soyency OF the banks, and when they failed in
the possession Of more than twenty millions Of
the public money, which they unjusty withheld
from the creditors Of a nation, large portion Of
which has never yet been refunded. II, under
circumstances so disgraceiul TO themselves, so
rulnous 10 the country, the banks have demanded
the use and custody of all the public money, and
tho disbursement Of all the revenues in the nation
in their deprecated paper, what will they not de
mand If recognized under the direction and con-
troll Of a great northern central bank OF fifty mil
lions And what will it avail US to strike down
the flag Of State sovereignty, and to capHuIae
disgraceiully 10 one paper master instead OF a
thousand In both cases, the army OF Incorpo-
rated banks to which we would be asked 10 sur
render, would be the same, but in the last con-
tingency this army clothed in the panopIy of ex-
elusive privileges and Of moned capital ei four
hundred millions Of dollars, would be INFINITELY
more dangerous and irresistible, headed and Or
ganzed, controlled and directed as It would be-
by great central bank with a capital OF hity
millions. Such would be the control OF such
bank, even with less capital and power, as de-
cared officially by its late most able and dlsin'
guished President (Mr Biddle) that the State
banks ,rouId only erist by lis torbsaranes. by
whose lorbeaance then would the rights OF the
States exist, and how soon would they be en-
gulphed and consolidated in the vortex oil this
great and all-attracting centripeta poweri i bus
bank would not only control, as Is claimed by IT'S
partisans, all the State banks, and all the vast n-
corporaied monied power and capital of the coun-
try, It would not only control and direct the Gus