Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-01-12


1arty VIII .expungc che party, Dot BY black lines,
TN bv clean and total ruh3ng out. New distress
IS Indispensable % them
The late Bank SUSPENSION (Which was coutnFed
piece of business, and one Of the Objects Of The DIS
ifihuiou ayy) was fully counted upon - restore he
Federal party and ls tuleaTy deily The bank OF Tie
IT, States, % lul power; but d was made al me
wrong time Il was . master'siioke' Out wrongful
ell shoud have been made IN the fourth IN
stead ol Tie ira lear Of Atr Van Burens admins
trston.-It was premature. Us authors did their
hest 10 make il AT uuti the presidential election
but the Democracy and tie New York banks tf-
e.d the resumption; aud there Is no alternative
but In make new suspension for the elections Of
1910. lbs a bad chance but it Is the only chance.
They are dead without Il; aud accordingly, ali the
pseparaons ire now in full progress Tor that catas-
trophe The preliminary steps are already taken.
An expan non of the paper currency has commen-
ced. to be followed al the proper time, By sudden
contraction, and tie consequent stoppage Of the
banks ana The general arrangement Of the business
Of the country.
The President Of the Bank Of the United States,
few wears agn in answer 10 interrogatOries from a
committee OF tho Senate, declared That there
,rere bnt feir State banks Bhich the Bank Of the
United States could not destroy by an ereyHon Of us
po,rer :" and the same President has lately decar
ed lhat his bank is stronger than il ever was. We
know III IS more WNhth3 dNAi Nc nave MS dulltItI
that il is more powerful and upon this power and
this wckedncss the eOntcderaies now build their de-
signs. Agencies Of that institution are established
in the south and west To gather up specie and ship
il 10 Philadelphia, 10 push into circulation millions
uuoG millions Of the notes of ,at bank, and To col
lee. bills OF exchange upon New ORR ana New Or
leans toexhaust those cities Of their specie Wien the
crops are coming in. Al the same time the political
party identified with this bank are crying out i1r m
Increase Of banks and banking capital, and lor IL
ereasrd issues of small notes under twenty dollars
They are encouraging the Introduction oil small
notes and post notes from all the negborng States,
and they are doing every thing in their power, to
promote the paper and TO diminish the gold and sll-
yer circulation. This is VITA is gong on. PhIa-
dephia is the source from which these Vaccinations
issue and the south and west are the devoted thea
tres OF operations. Without referring to other States
take leave to point your attention TO our own and
TO ask you to observe what rs now passing among
ourselves Agencies are established among us 10 in-
port paper and TO export specie there are houses
In St Louis which should have this inscription over
their doors " Paper money importing, and hard
moneu exporting, mdrehouse.D Af0ur own bank
lives the fife of coon freed by the hunter. II dare
not put out notes to the amount OF It's specie Tor fear
Of being run upon and blown up, no more than the
coon would dare to come down from the tree while
the dogs we're lyingm wait for him at It's roots. U.
States bank notes are exchanged for Missouri notes,
the specie drawn for them and shipped they are
exchanged for specie direct and The specie shipped;
they are exchanged lor bills OF exchange on New
York and New Orleans, and these bills are sent to
those cities to draw specie from them. The United
States bank notes thus received are themselves re-
mtted to the east as eastern lunds; aud thus the
State loses both the specie whlcht had, and the
notes which il received for them In fact the notes
are sent out to capture specie and 10 return with IT.
This is the case with the eastern notes which are
imported not so with the WESTERN and with the
miserable post notes these are retained for domes
lie consumption and sent into the country and perse
vernely pushed into the hands Of the farmer; and
IN little time, If these operations nre allowed TO 20
on, there viii be nothing but this trash IN their
hands. The State will then be ready Tor the new
suspension, the new panic and the new distress,
which will be charged of course TO any thing that
Mr.. Van Buren, may do or say, no Blatier what,
about that lime.
The arrestaiion Of these measures Is partly, not |
wholly, the business Of the Federal Government; !
and that Government is rndeavorihg to do ITS part
by increasing the gold and silver circulation, res
training the small note circulation under twenty dol
lars, dlvorcng bank and State, restoring hard mo-
ney payments at the Federal Treasury, preventing |
the resuscliaon or the king lbank, advocating the
responsibility of Incorporated stockholders promo |
TING general reformation of the banking system,
aud exposing the unsafe the unsold, the dcusive
and fatal practice Of banking upon each others
paper. Most Of these measures OF prevention re-
luire the aid of the State Legislatures, and none
more so than the suppression of the pestential is
me Of small paper. The circulation, or suppress
lion, Of this kind Of paper has now become one Of
he regular points Of parties and the doctrines OF
he Democratic controversy between the Federal
aud Democratic party may be seen in General Jack
.. 1 Me Vnu RufCn'c lptfpr la Ghnr-
rod Williams, and in the present practice of The
General Government, which neither receives nor
PAYS out any note below twenty dolatSs~
The Democratic Administration is doingIus part
10 arrest ihe impending mischiel but every State
can do much for itself, and Missouri, especially, can
do every thing for herself She is large enough,
rich enough in native resources, and far enough re.
moved from the source of hostile action TO protect
her own currency. She can regulate il herself and
make il what she pcases within the limits OF the
Constitution Of the United States. She is as large
as England has as many elements of inherent
wealth. is not yet cnslavcd by the paper system and
Is a thousand miles of from that unchartered Bank
of the United States which Us now determined 70 90
on as national honk without national charter, to
ntrude her branches (sgcncies) into the States in
defiance OF their laws, and 10 harrass and destroy
their currency until they give up, and admit that
they cannot prosper without king bank to rule
over them. Missouri is able 10 project herself from
these Vaccinations. 1t Is her duty to protect her
scif Her destiny is in her own hands and de-
vou,y is ii to be wished that she may'a up 10 the
eNigency OF The OCCASION and apply the remedies
which The public good requires.
Respectfully, Gentlemen, your friend aud fellow
citizen,
THOMAS II. BENTON.
Mcssrs. Micajah V. Harrison, Larkin Craig
David Henderson, and others.
Important Fach-Ietit be for ever borne in
mind, that IN almost every case of detection from
the cause Of Democracy, which has occurred
within the las, few months, the individuals thus dc.