Piney Woods planter. (Liberty, Mi. [i.e. Miss.]) 1838-1840, 1839-02-02

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destroy forever the bright prospect:
now dawnlng upon us, of direct trade.
ana would, fear, soon create a colos.
sal money power. which by the con-
r centration Of capital and credit would
possess the despotic control ofall branch.
es OF industry, Cypress the productive
classes, and either wage war with tbe
government, or what is still worse.
would ally itself to it for corrupt pur.
: poses.
: ! am decidedly favorable to an nm.
quallhed separation Of the government
from the banks, and to the collection q
the federal revenue in the constitution
al currency, in other words. to the in
dependent or sub-treasury bill as intro
duced BY Mr.. Wright, specie clasue
and all. 1t is my sincere conviction,
that the connection of the treasury
with the baks. would soon corrupt both.
A separation, entire and eternal is the
more necessary, in the present condi-
ton ofthe country, when stockjobbing
and wild and visionary schemes Of crea.
ing capital, misleading the public mind,
from labor, industry and sound enter
prise, the real sources of national wealth.
prevail to such an alarming extent.
see no other means of eifectualiy check
ing the desolating effects, which much
result fromill-digestcd banking schemes.
at times pampcred and stimulated, and
then again depleted to exhaustion.
The receipt and expenditure of the
public monies, without permitting them
to be mingled with the banking CAPT.
tai Of private monied corporations,
would in my opinion, keep up moder-
ate and healthy demand for specie.
and thus operate as sure check to
excessive issues Of paper currency, limi-
ting them to an amount always con-
vertible.
1t would, by throwing the influence
OF the money power into opposition to
an increase of revenue, tend to check
extraVagant expenditures and useless
appropriations and thus reduce the re-
venue and expenses of the government
to an economical standard, enforce re-
form, and remove all temptation to dis
honesty. Nor have | doubt, notwith-
standing the senselcss clamor of some
OF the opponents Of this measure, that
in its operation, instead OF Increasing il
would diminish executive patronage,
IN precisely the same ratio, that the
influence of money, the use Of which
for private purposes is forbidden under
severe penalties, is less, than if permit
ted to be made the basis of bank cred
its, discount loans and issues. The
custody of million of dollars, locked
up in an iron chest, certainly confers
less rover than the control Of The same
amount used freely as the basis Of
banking operations, which, it is sup /
,osed may be safely extended TO three
INES the amount of the capital.
In every point Of view, in which
AVE been enabled to examine this
ubject, am led to the conclusion,
hat the country would be benefited, y
md even the sound banks, disposed to 1
e content with moderate profits. would
g rendered more Independent by the d
divorce. lam at loss to f
erceive how genuine state right
nan, unprejudiced and impartial, can
Ppose measures so evidently tending :
. promote his principles. q
Differing entirely and radically from
iessrs. Clay, Harrison and Webster,
every essential political tenet, i GER +,
ainly shall not support either Of them Al
,r the presidency. Believing that the Il
leyation Of either Of these candidates 4,
ould result in the establishment of y
70 most dangerous principles, ] shall,
a citizen, do all can to prevent it.
consider Che nationals composing a
rcat part Of the wing party, as feder-
lists Of the old school, with whom
ave no elementary principle in com s
on. / shall cooperate freely and =
oldly withalI genuine republicans, be =
icy democrats Of nullifers,,iti assert 4
g the principlesto which / have al j.
dcd. -
It is a matter Of sincere regret to me n,
perceive many state rights men, n
hom | know to be sound and ortho. y,
* in the abstact, and with whom ] IL
I'VE long co operated, disposed 10 raj Be
under the broad banner Of candi- on
tic for the presidency, whose creed he
the very opposite to chat which they pc