Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-11-19

r farm plan VI uS~Nf =, =, "
aaIlT," course invariable failure has sue
FnJsd every new scheme. Never did
cceueu MISTER party wave his head with
The u'v Yrndauntcd effrontiy, or breathe
more no land more pestilential influence.
over a.a .c Of party prescription ofthe most
'o.,0,ible kind have occurred in your
'on,'r COUNTY, and offices are openly con-
o"n NON defeated candidates, for Con-
IeTrVu - y reward them for their partizan
gess ~ Bribery and corruption stalk
af' ''ah the land and have become too ia.
ihlou5 90 attract comment. More mem.
rll~ arConrress and Editors of newspa-
f.s \ have been appointed to Office during
FeI' ADMINISTRATION than during all the other
0 rsS5;n;strations since the adoption CT the
sdIlla ,;,ntion. The Constitution has been
Oou Jr nrostrated and the Executive pow.
uuI, .: become absolute, through the inhu-
e' p' of patronage an influence, which,
eDye -, noise and without violence, has
T r.,cd more il changing the spirit Of our
su ',ntons than a standing army could
,a dome. and whilst we retain the form
"a" f,oe Government, VIC daily experience
o. MAJ results of an arbitrary one. The
al ~ Of Retrenchment has been re.
' U~J IN the expenses ofthe Government
G I..1 ,,cbIed, in The prodigal waste Of pub
UT5 o1s and the numerous robberles,
!" ,o oatipg 10 millions Of dollars which have
guy scrpetrated on the public treasury.
w. .r, yioa,ion of their promise of Reform
W IA in almost every act Of this unprin.
with the view, as they prolessed, of
crashing a better currency, this party
.onr,cnced their warfare against the
ponJ oC Inc United States and after pro-
t,oc,cd struggle the Bank was crushed
~oJ ,be public treasures were scattered
amooo eighty State Banks, which became
,be patys pets and the Governments f.
Oancnl agents. The Secretary of the
Treasury issued his circulars to these
Ranks. directing them to discount freely
mon the public deposites. The opposition
pary with a foresight that appears now
like the inspiration of prophecy, saw the
cloud that was gathering in the political
4y at the very verge of the horizon and
made the halls of Legislation ring with the
eOoient denunciation oftheir measures, 81
herprophetic warnings raised against the
lsnucst that was lowering. With blind
md headlong fury, aggravated instead of
hop moderated by the opposition they
eoconntered tho Democratic, party carried
oa their measures, scattered the public
GoA from one end Of the Union to the
o6e, and in the language of the ofic a
pran at Washington they " turned the
Treasury Of the Nation itself into capital
6rSock holders" Swarms ofState Banks
oaag up in every direction to fill up the
vacuum caused by the destl bction Of the
monster and to share in the golden shower
that was so prodigally scattered by Exec i.
u,ive patronage. I'm every direction the
Democratic p uty was lauding to the very
Heavens t,c glorious system OF State
Ranks. and in three or four years more
Banks were created by democratic Legis-
alures than hal been Incorporated for
thirty years previous; Their number was
Increased from about 300 TO 60, and the
banking capital Of the country was sud-
dyOly bIoaied up from one hundred and
CIV to nearly four hundred millions of
dollars. No State experienced in a grea-
ter degree this State Bank mania than our
own-ts Blnking capital was increased
fpm less than one to sixty nine millions OF
dollars, and all this was done by the Demo.
cratic party which had the ascendeney in
iheSnte.
The facility of obtaining money aroused
a Spri, of speculation among the people
which, iosiercd and sustained by the meas.
urps Of the General Government, per.
yuded the whole community. The
making of fo.t.ne was the achieve
ment of n day-and the splendid cas-
les that dazzled the bewildered fan
ces of the people were like the works
Of enchantment. During this unnatura
and unsubstantial condition of things TIN
people were confidently assured by IN
Democratic party that Notwithstanding
the declarations and melancholy toreoo
diDgS, orthe panic makers as they terme
The opposition party, all this prosPerIt
was the result Of their measures and th9
exchange and currency were as unItorT
AZ during the existence OF the Unite
States Bank. But soon change cam
4oer the spirit Of their dream" when th'
densive system, this baseless fabric ne
having the solid foundation of specie bi
sslo rest on. nor the essential support
mutual confidence to sustain it, crumble
beneath tho first touch Of pressure, an
eN the country covered with its WORTHLESS
rags. Pecuniary distress and unlvers
famine TOOL, the places Of abundant capt
and general confidence, ruin and dlsma
reared heir heads over profitable industI
and active enterprise, credit was crusne'
energy paralysed and the general prospe
yofthe country Frustrated. The author
ofthls abOrtive experiment, after their e.
lravagant promises Of its benefits, MAJ
dened by disappointment al Its iallur
spurned from them their spurious otfsprlT
oiState Banks and with insulting imp
dence, attempted to fix the stigma OF the
origin 1pon the opposition party, ana
charge them with the const quences
their own rroaigacy. But the whole
thatIransaction,i is oftoo recent occurrcn
10 enable them to effect any thing by I
charge, except to expose their unbushi
etirOntry and unhesiiating inconcIstenC
with that want Of plan which character:
ignorance, and that recklessness factI
which betrays their selfish Indifference
the interests Of the people, rushing tr'
One at ro,,,.. A. o,,otbor oboudOninO fh