Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-12-24
POST NOTES-GOV. BAGBY.

POST NOTES-GOV. BAGBY.
Preparatory to the present article, we pub
lished in our last that portion of Gov. Bagby's
Message to the Legislature of Alabama, which
relates to the banks of that State, in which he
recommends the issuance ofPOST NOTES,
or the notes of the SUSPENDED BANKS,
tosupply currency for the people.
With all due Difference to the high charac-
ter of Gov Bagby as The chief Executive of the
State,and no less as prominent member of the
Democratic party, we must acknowledge that
we are truly astounded at such recommends
ton. We thought, that when this party
came into power, with Gen. Jackson at their
head, it was with the avowed object and de-
termination, not only to reform the abuses ale
ged to have crept into the government, but to
regulate the currency also. And to this end,
not only scores of long tried, -honored
and faithful officers were dismissed for suppo-
sed offences, but the United States bank was
also destroyed and the present system of State
Banks introduced. But the State banks not
answering the purpose of supplying shelter
currency" during even period of specie pay
ments, it is now sought to be accomplished by
them we suppose, during period of general
suspension. But will this answer! Certainly
not. Can the people desire it! BY no means.
And they do not expect such things at the
hands Of Democratic Governors especially
What Is the country not already cursed
with the worst currency the world ever saw
and yet, here is a recommendation eminating
from the chief Executive of the State, and he
a member Of the party who are pledged to
supply better currency, for another batch Of
worthless trash, to dig stil deeper into the
hard earnings Ofthe people by greater depre-
citation, which must inevitably take place, i
thrown out. Has not the country been ruined
already by the depreciation Of the paper ofthe
banks, even that could pay specie! The
State Banks which were to supply "bette
currency'-because it had not credit abroad
and yet, here is proposition to sink it still
lower and the people with it, by hosting add
tional Aood-gates, with democratic hands.
leading from all the kite shops and paper mill;
IN the country. Is this the practice oftha
profession so often reiterated and sung in the
ears Of the people ! And are the people 81
blind as TO bark on without seeing tbs decep
lion which is practised upon them. and tn
: certain ruin it must lead to Characterised
BY acts so opposite to profession, how is i
possible that such men can be longer trust
ed! Should not adders that have fangrs b
5 trusted sooner
The democratic party are professionally tn
,vowed enemies of the banSs, and yet we nm
I them the largest stockholders in tbem.-ine;
! are the selfstyled conservatives OF the ianc
4 who repudiate every such institution as being
a frauoI,t with danger and corruption, and ye
; we see them the most willing recipients of theI
3 favors. Like the cunning Jew, who preache
Y AGAINST the article he wishes to purchase, tina
e he may get the greater bargain, and boast
I his success when the seller has deParted,' theS
rail against the banks and pocket the fruits
their own cupidity.
e If the present banking system IS an eVl
and none can doubt il, let it be disposed Of, an
not be kept as small game for the private us
h Of any, when the country is deterIOratlng ?
e its influence. Such, surely, is not what IN
!. people have right to expect because =, !.
! not that which was promised them. Inc
il were promised @better currency" who
4 thew have looked for, for ten lorg years. Ds
with nosmore indication Of its approach tia
when the promise was first made, nor 90 niue
= then we were blessed with the best cnrreI
! CIV the world ever saw currency esteeme
+ AZ home and honored abroad, except by u
e few who were ben. upon its destruction.
= In turning back then,and conrastingthe tw
e we canbut be struck with that folly whis
e sought 10 destroy the cne' without the mo-
remote ability to make good the other tn
took from Us a real good, and left IN its place
positive evil--an evil which. instead Of decre'
d sing is daily increasing By The new Y
. puIsesh receives 81 the hands q those vi
. ksvs he poser % arrest 4. thfeatens % e