Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-05-25

..t
Van tI,,.1a D W.. 'I ~, servants
% "a 90 l-''''''' ~ W. "a''es' ana others
c.,n,r,,,,. Ia, ~ ne may l. 1909.
,Le rnce,n, r ,o,r ACKNOWLEDGEMENTS " SoNnuWto3e
inviting me to meet Won .ro,,oI H., Jo'' We
such time as nav suit my convcnionca T,,.- a.
baton EXPRESSED by Won Of INV conrs, - i,
! ate Of the United States Is tcnl. r,,;t ~
whilst feel That TO your kindness anI
more than to nv humble services r,',s,
ted the yery favorable opinions eynrnssl -,
latter. vet it is true that nv best esrp,as L,,'
increasingly devoted in ,he Senate. will ,,,,, ,n
sustain the honor and promote the welfare of tla
pcople Of Mississippi With the exception of the
currency question, there seems ia havo Lscn ~,
most other subjects very general copr,,rrc,o, T.;
opinion betweenmysef aud my constituents. In no..
sSung the reception Of all abolition petitions-
vocaung She recognition and annexation ~ 'rsy.s~
! IN supporting the presumption aui graduation hills
III laV1r OF actual setters-ln opposing The disribp
| ton Of the pubic revenue-and all other measures
| OF kindred character, calculated TO create n ncy
national debt and new tariff my constituents seem
in these respects 10 have very generally apnroyrd
| my course. The currency question abpe3rs to be
me prhcipai suoJecl IN regard to which il has been
my misfortune 10 dIiler from large and INTELLIGENT
! poItoh ol my Constituents
~ lN'"N'pH !" WIS IINdl question:, Inc trp
between those who are in favor Of or opposed to an
! expanded circulation Of bank paper, as the pprma-
nent settled policy oil the counEy On tic one side.
/ are TIE advocates Of Bank Of the United States
and Of auxiliary State Institutions. on tbo other
side, are the supporters Of an indepenIrnt cons,itu.
! toDal treasury, the opponents of arv Bapk ~ ,to
United States, ard OF all bank paper circulation M
! der the denomination of twenty tollars m III.
subject, tie truth Of tie following position Is bel'ev
/ ed TO be susceptible of comulete demn,e,r,,;oo.
lst. The oton growing States are drcnly mined
! by the expansion OF American bank Manor Whether
consisting of the issues OF national bank ar NJ Ste
institutions and tins whether the paper in circulation
/ BE- ndmnaly convertible into specip nm demand nv
! nconyertbe, deprecated, or at mar
2dv. That, in the absence of Bank or u,o T..
nited States it is impossible to maintain ne,anont.
/ " an enlarged circulation Of bank nanrr wLerber
convertible INTO specie or inconycrtibe Sucl a cir
cuaton Of iDconvertible bank DaDer cannot nerg,s
nendy be maintained for il IS ony the hone nr tla
redemption Of such paper within reasonable neriod
that sustalnS lis circulation al n denrpcatcd ,,lo
and if il were believed that such paDer was rerro,'
nenly rredeemable, ii would become utterly worlL-
less, and would cease to circulate as money. Nor
can anenar9ed convertible currency he permanent
" maintlned in the absence of Bank o. the lrpi.
ted States, for reasons which will be hereafter stated
in this communication. II thcn an ENLARGED circua.
lion OF bank paper be deeply Injurious 10 the inter-
ests of the planting States and If if ne Further Jc
monstrable, that such expanded circulation cannot
be permanently maintained in the absence Of a banl
OF the States, il vas certainly nv duty. as rcpre
sentative Of the people Of Mississippi in the Senate
To oppose the Incorporation Of a national bank. As
to the truth Of the first position that an evn,nded
bank circulation prendicial 10 our interest if an
pears 10 me that the views taken by me in he sen.
ate at the special session in September 1897. have
not been and cannot b. satisfactorily answered II
was then demonstrated by reference 10 prices cur-
rent Of cotton and domestic provisions and tabIas of
American bank circulation from wear 10 year haf
whist domestic produce unformy rose IN nr,rr I'm,
the augmentation Of paper .gsues cotton repeg,nlIg
/ fell. being governed 6v The orqga market n its
| great troih should be doubted by any tet ,lsm