Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1839-04-27
From, the -sateaes cs's7 ier-
ocr Ranks and our Credit.

II is somewhat singular ff1I pcoP1o -.
the Northern cities, " no are n m1icn ~
terested in the currency Of Mississippi
as the people Of our State, should eSince
such disposition and take such pans 70
decry both our Currency and cur credit
That such should be the case IN New
Orleans, is not at all surprising when ~e
take into consideration how much -
gained there BY the depreciation OF our
currency. although it Is very problema-
ticaI whether In the long ruin our Sister
CITY does not lose full as much as
NAV be gained from our calamiiies- But
with The people of the North there =
not even the shox of the Pretence 10
Justify their proceedings, Tor ii defiance
of their own true interests. they have
acted, Brokers, Bankers, Shavers and
Merchants one and all, a. though our
Banks must suspend again, and that he
alone was safe, who was trSf to Presen NJ
his demands.
When the Deer Creek Bank, and the
Commercial Bank of Vicksburg suspend
ed. the fear became universal that all
would suspend again. Even our own
citizens partook of the panic, and some
of them withdrew all they could with
draw from our Banks.
Well, the panic is now over, our banks
have not suspended, and will not suspend.
contrary no doubt to the expectations of
many, and to the hopes and wishes OF
not fe1c. They are sound and beyond
the reach of casualty. Nothing can
compel them to stop specie Payments
No necessity can be created for second
suspension. and if it takes place at all,
it will be from policy, and because all
the Banks in the North suspend; an &C
currence not likely to be again witneS-
sed for many years
True it is, that the circulation Of our
Banks has been returned upon them and
been redeemed, far, rery far, below the
forrest point il was ever expected to reach
and our good citizens have been the suf-
ferers therebv-yet in the end the result
will be beneficial. Our Banks having
stood for a period of sixty DAYS. such a
run as was never before made, and which
it is hazarding little to assert, that no
Banks in the North or South, not even
the United States Bank, could have stood
in the same proportion for half the time,
confidence Is now restored, and people
are perfectly willing to hold the notes OF
our city Banks, ichen they can get them,
and no longer carry off the specie
They are now satisfied that they can
have the specie when they want il, and
satisfied too, that they never did want It.
for the notes answered all their purposes
just as well specie
Distrust no longer prevails, and Il Is
not arrogant TO assert that our Banks
will stand hereafter as high as any
Banks in the Union, and higher than
many Banks that have heretofore ENJOY
cd more of the public confidence
We have forborne 10 speak OF this /
subject before, lest we might be suspect I
ed of having a design to bolster up our
monied institutions, but we have not 4
been inattentive observers Of their move
ments. Now that your Natchez Banks 4
are beyond the reach of the malice and \
hatred of their maligners at home and 4
abroad, and have won the confidence of
the timid and the wavering who were IN
fact disposed to be friendly, we NAV
speak with boldness and without the risk 4
Of exciting suspicion of our motives or
the sincerity of our opinion; Let re
banks of other places suspend Iriea they
may, our Banks are safe