Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-10-26
From tks ItcksLwg >, Rf'Ht'
LETTER FROM THE EDITOR
WASHINGTON. Scnl. %. lS30


The revoIl,on IN public sentiment on the sub
jecl Of currency aud credit, is as rapid aud heal
thy MS the mos sanguine loco tocos could desire
have been g,atihcd IN al the commercial and
manufacturing districts where have soouned,
at the change of opinion on his question among
themost intelligent Merchants and Manufacturers
who have always stood N The Wing ranks; aud
shall be very much mistaken II this change
does not manifest itself IN Philadelphia, y. York
! and Baltimore, at the isIl elections. But the rel
atFe strength Of parties at the approaching cleo
| tons wlll not show one fourth Of the change of
| opinion on the subject Of banking and currency
! Many OF those who have changed then opinions
will from habit, either stay II home or vote a.
usual the Wing ticket; but there are many who
will have the moral courage 10 clme out boldly
aud vote the Democratic ticket, avowinC openly
| The doctrines Of the humbug, or hard MONEY!
sub-reasury and sustaining he prime noS u The
much abused aud defded loco ioco party. Nine
tentbs Of the emrncn political economists II Inc
| North have long entertained these opinions but
! the working oi the paper system IS rapidly curing
| selt--that system which enables few men 10
convert credit into currency, 10 create or diminish
the circulating medium at viii, without relercnce
| TO the productions Of the countrywide the erD0.
nent Of It's woallh-and thus the property and la.
Dor Of tie country are transferred from The hands
| OF the honest into the pockets If the Specializing
bank director, by the fiat of the very b0atd of
| which he is a member. Such has been the effect
OF the paper money system IN all agos and coun
tries; and 50 oppressive has II now become il
England and America--he two greatest paper
u1n IN Il
aud manufacturer Of ordinary intelligence are
alarmed al IT'S progress aud are preparing to de-
suoy 1t. Indeed, England and America uhe
United States, at the present time afford a pow
erlul and unanswerable commentary on the beau
ties OF the paper money system.
In season Of uneXamped plenty tue Wing press
OF n. York and all the northern cities look to the
arrival OF single packet from England as the mes
senger Of news which will render them conen,
and prosperous or Respondent aud bankrupt. A
few additional showers OF ram 10 England with
rise IN the interest Of money and fall IN the
price Of stocks o. pieces Of paper printed in the.
United Sttes and sold to the stupid Eupli.hnen,
carry dlsmay and terror to nine tenhs Of the
Wing press of New York, and the stock obbers
specuators and The Bank credits fiom which they
uators, stockholders, bankers aud those Who
live IN spIendor on a credit, without talents, canl-
tai or industry look with The same anxiety TO the
result Of negotiation France by which they
hope 10 obtain loan Of from to 10 millions Of
dollars 10 enable them to continue their gambling
operations. Thus we aFe presented with the
Illuminating spectacle Of the two greatest Bank
M countries on the globe Boosting Of their re-
sources, their intelligence, their extraordinary H.
nancia abilities, and their barbarous Anglo Sax
on blood too, begging that hard money country
France, which issues no bank paper less than 500
francs, 10 lake them by the locks and save hem
from inevitable destruction sne disgrace. II
France would consult her own nieres, and the
interests OF humanity, she would lei both 90 to
the devil and the Bank credit system Of which
they so much boast. Nobody world be injured
by the catastrophe but pack Of swlndels who
live on the labor Of others without contributing
single thought TO increase the happiness Of
mankind Then Mai. Noah and few men Of
decided talent would be left alone IN their glory
while The great mass Of the slang whangers, who !
live by the credit system and have barely mind
enough 10 repeat the changes on tone currency
for the government and another for the people,"
"god for the office holders and rags for the peo-
pe," dirty Iocoioco," "leyeller," "agranan,"
"Fanny Wight man." which they have always
ready as a satisfactory wing reply to all arguments
in favor Of an Independent Treasury, and total
separation of Bank and State, would be compel
led to 20 10 had labor at Sing Sing or with an
honest farmer.
This bloaled credit system which our wings
land some gambling democrats and the English |
paper men are so much attached 10, is ruinous 10
the legitimate merchant, while it operates as
most onerous tax on all productive industry
Exchanges ought always TO be governed by the |
productions Of tho country. They form m i'm
porant item in the calculation Of the mercan
tile community. and regulate their profits on The
purchase and sale Of the various commodities II