Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-08-03

sutu, OF oTNh or ancestry animated by no rtcoHec-
ton ol their glorious deeds IN The fed Or cabinet !
stimulated by no patriotic impulse, by no .oity or |
generous ambition, the world at lis most corrupt |
age would never have been discraced and govern I
cd by such an ariSiucracy as that which growing
oui Of our banking system. Let them - on Tor 4
few wears more augmenuEg 10 power and wealth l
and numbers, and the commencement IT the battle |
iur liberty and dedyer1nce viii have been deferred |
too long Perhaps even now. the buge notes OF |
freedom the cheerful cry of onward Ia the rescue of
rights aud liberties, is sounding TOO late along the
ranks of the people. But et Us never despair Il a
Sauon of reemen can he reused 20 a sense ni their
danger, Tor even from the brink OF the precipce, to /
which with ViewesS but rapid strides they seemed /
10 hasten, they would turn back upon their opprcs
sorS and upon the runs of their systems, establish
the great and fundamental principles OF republican
liberty.
Having, i, is hoped, demonstrated the demoralz.
ing effects and anti-rcpub,ean tendencies Of the
banking system the truth a either Of these propo-
StonS should induce its overthrow but 1t Is inu-
rous as a mere question Of finance to the true IN
| iereSis Of the American people. The following
classes combined, II will be conceded, constitutes
large majority Of the American people, namely;
| lSt the exporting States %, the manufacturing in
| erest; 81, the navigating interest, ard 4th, the
/ working classes, who 1--we by the proceeds OF tier
| daily labor. The argument is To the cotton grow
| li1 CltltS ldUu lt Sdllt piilt WIN dlfN w 'iN
growers of rice tobacco and oil other exports has
been already exhausted 1t has been clearly shown
that by the American bank paper system, the plan
! ter is compelled 10 give quadruple prices Tor all he
| buys, including provisions and all the expenses OF
cultivation, and receives no more Tor what he sells,
| that beng governed by the foreign market. In r.
| ation to the manufacturer the cost ii hls original
investment is probably doubled by the paper system
as well as the expenses of conducting the establish
ment. Thus the cost Of manufacturing is so geat
IL enhanced here, that price is demanded iorthc
domestic article far above the price al which ami
lar article can he purchased from abroad, anC the
| American manufacturer is thus too often rnlnei, or
driven out of the market But give the mondac-
turing States the benefit of metallic currency, and
the American can compete with the lorcign mnu-
tacturer, and obtain the glorious result OF dISpen-
sing with all preieXt for protective iarltt AZ re-
} CARDS the great and important navigating incest,
the price of materials for building the cost Of ON
struction and of cquippinG and sailing vessels, has
been SO greatly enhanced by the paper system, to
produce of late declining rate IN the ratio olln-
crease of American as compared with foreign TN
age and II seam and the use of coal and maclin-
cry to be introduced 10 gIcat extent into navua-
on this great interest will bc Still more seuousydr-
pressed IN competition with foreigners, hy the rain
Gus consequences OF American paper prices. And
by The patriot and statesmen II SlIoHd never be for
sery OF our navy that grea, and glorious right arm
OF the Nations defence and honor. As to the vor-
KING class the inquiry y great aud appalling The
rents OF the1 huuu.r dwellings, and W every article
they purchase, including provisions and all the ne
cessaTles Of HE, are vastly increased by the paper
system whilst wages rise not IN q correspondent ra-
ito. 1t is settled law Of currency, that wages is
the last thing enhanced by paper issues and in no
thing IkC "a ooEvssp~"la.. ..e' ''tsh az "'.' S',l-
oleo Ifanv doubt this let them look at the vast IN
crease Of lae Of poverty in the great cities OF Bal
moIe, Philadelphia and New York the midst OF an
overflow Of bank paper Its well known that ma
nv honest and industrious females there compel
ed TO receive but ten cents piece for making ehrs,
and that from the enhanced prices OF living, their
daily and unremittng toll will not purchase for them
the mere necesSares of life, and that numerous hu
name societies have been formed there for their BEN
eft, as well as for the Iabonng poor generally. Nor
IS this the only way in which the working classes
suffer from the paper system. Knowing but little
of banks, upon their failure, the working classes
generally hold an undue proportion OF the worst pa
per- and numerous and distressing cases have occur
red in which the laboring poor, both men and wo.
men have lost their little all, accumulated from years
of toll and industry, by the failure Of banks whose
paper they held, Or with which they had their funds
deposited. admire neither the head or heart Of
that who has no sympathy and respect ior those
who live by daily labor and by whose unceasing IN
dustry, SO much is added to the actual wealth and
products Of the country. Surely this class should
not be depressed by legislation, and the difficulties Of
subsistence enhanced by the paper system. Cheap
lands and provisions increase the facilities ol sub-
sstence, and augment most rapidly the prosperity
and population of the country. In the great city Of
, New York this question seems TO be thorougIy I'M
dersood by the working classes they are The fixed
enemies OF the paper SYSTEM and with alternate We
tory aud deIeat, they have contended manully a
galnst the hordes Of bankers and spectators, bro
, kers and stock lobbers in that great city. Let then
] perseyere and their ultimate victory s ceraln anC
s triumphant. The exofbitant price of provisions il
now universally tel, add deprecated in the northern
d cities and II rs clearly chargeabe to the paper sys
i TEN, not only directly, in It's vast enhancement o
d prices, but indirectly in Withdrawing so many thou
If sands from agriculture Ia invest their means IN ban
\ king. The number in this country Of officers
;, clerks and agent including also all bank stockhol
l. ders who are withdrawn from agriculture 10 1--we II
l. idleness upon bank dividends cannot be less thai
e eighty thousand exceeding the entire population 0
II one Of The States Of this Union. II these eight
i thousand were engaged n agriculture, how great
n would il add TO the products and actual wealth G
H. the country, instead Of producing nothing and ynt
upon the means extracted from the labor OF others
e This army OF bank dependents is equal 10 man!
IS Of the standing armies Of Europe, and is maintain
ol ed by yearly tax upon the labor Of the country
e equal TO the entire revenues oil the nation. / h
1t four hundred millions Of capital invested IN ban
stock would in the absence Of banks, seek inycs,
,e ment in commerce, agriculture or manufactures ?
i. in great works Of internal improvement and thu
/. give employment 10 labor, and increase the product
n and prosperity oil the country; whereas II nor
- draws It's dividends from labor, and adds nothing
! but subuacts much from the national wealth an
r. industry. In the single item Of bank buildings
te the Union. including all their various marble pa
- aces there must BE- invested at least thirty million
: OF dollars, sum Of money which would cover an
State with railroads and canals, but which now e
,, every useful purpose, might well be sunk in III
m ocean. Nor should it be forgotten, that the cost
o. making our roads and canals, aud Of removing OF
o. structons from our nayigabe streams, is perhsF
/. quadrupled by the paper system. Thus, also, III