Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-04-20

Fer Sc. Of Sfa,t-BARRf ". BENSON:
For .4adifor-AUGUsTUS B. SAUNDERS:
I For Trsamsr-SAMCEL CRAIG:
For Congren-A. G. BRowS s J. THoNrs0s.
The Argus prrycrls one Il our objections 70
National Bank We have never sald that such an
institution was impoliiic and dangerous, merely be-
cause il "kepl dawn tie State banks We
should be glad u see item restrained and kept with
in heir proper limits and restricted IN al eases to
the very letter IT their charters. One Objection 70
a National bank wa. that i had ton powerful and
controlling an inHugnce over tie State institution
il could not nny check, but II could crush ihem--h
eoud not only eoerce them in contract bat 70 ex-
pand at is sovereign viii and pleasure. Had its
,na ence been cxctied sacy To condne them within
orsner bounds il would have been 80 Gar beneficial;
but il often produced directly opposite effect We
do not know that IL ever the interest OF The L.
States bank, or any other bank, 70 uver-ssue; bat
we do know. that that bank did frequently orer-
issue. and was, 10 consequence, on one OF two oeea-
SONS, brought 10 the very verge of SUSPENSION It's
immense EXPANSION IN 1885, bot a few months before
lis charter expired was olpwed by similar eNpan-
sion on the part Of the State Banks, and the louHeen
Millions which 1t threw iuio circulation was increased
len.loll by these institutions. This was an amount
which ,ras felt throughput the Union, and which
could. and which did form basis for extensive
snecula,ions." Had the &. States bank acted as Il
should have done, and gradually called IN its paper
the year preceding The expiration OF its charter the
State banks would have been checked there would
not have been an adequate basis Tor the eN-
itnsiye specuations and ovrr.radng which followed
and we should have been saved much of the pcu-
nary rmbarrassmenls under which we are at pre-
sent laboring But such was not the purpose OF
the bank; II wished not TO check, but TO stimulate
speculaion--not to prevent, but TO cause pfcnniary
endorsements its great object beng to force
rc.charter from the groans and suierngs OF an OPP
pressed people-ihey were to he afflicted and 'fod-
den down, until ike tie Jews of old, they should
be compelled to cry out for a king to rule over them
| We repeat what we have often said before, that
wc must look 10 the conduct Of the L. States bank
during the last year of its existence Tor one OF the
grand, original causes OF our present pecunary en-
/ DAlTHFhiltHS. We lUtdh h'A w ooSi 'i"' Wv '"'
the only cause We grant that there were many
others not Tie least Of which was the great increase
Of State banks and the loose manner N winch they
we're chartered. Bu, tins increase Of State banks
aud loose manner of charerng them, every person
we think, must admit, is n non sequitu--no neces-
sary consequence OF the destruction Of the Y, States
bank. Ia fact, the increase Of banking commenced
before Gen. Jacksons veto, and nearly reached It's
climax pre- yious 10 the expiration Of the chatter OF
that bank.
We must be permitted to say, thot the Argus IS
altogether mistaken III asserting that the 4oi banks,
Nj, ,el7 ,e ha"a hson nraeial 10 savrn wears,
"werc chartered by Jackson Van Buren, IeESa-
lures III is, indeed true ihat many Of The leglSil-
lures which chartered these banks were composed Of
a ma ionty Of members friendly 10 Gen. Jackson and
| Mr. Van Buren,. But "why does not the editor tell
us tho whole trulh;"(we thank him for the phrase
and tel US that majority OF The Jackson and Van
Buren, members in the legislatures were opposed to
the great increase of banks, and that in almost eve
ry Instance, The charters were granted by wing
votes, aided by a few Of the democrats. He might
also tell Us that there is not democrat, nor lead
ing democrats journal in the Union that has not
dsapproved of aud deprecated this great increase
OF banking. The truth is, it has been for many
years the great object o the democratic party To
IOrm our banking systemic restrict paper issues
within proper limits, to suppress the ISSUING of small
notes, and nuse into cur circulation sufficient
quantity oil the precious metals for ordinary and
ncighborhoel purposes, aud u restrict bank paper
to It's legitimate oblect--he larger transactions Of
trade aud commerce, At the bead Of this reform
parry, IN this State, stands present abIe Cover
nor A. 6, MNurr and # the Argus and its party
arc sincere in their professions of hostility to a SHIN
plaster currency, they are bound TO support him.
TnE SEAsoS.--'Fbe prospect Of the season thus
far has been truly encouraging, Should it continue
SO, the planters viii reap rich reward. The cord
IN this section of the state books uncommony fine,
and the prospect for The cotton crop is equally graft
lying.
CoNSxcrlcur,-r The Feds, according to their own
accounts, have carried ths State by a7l9 majority
clecllng all their candidates, The Nashville Wing
cries out victory for TINS triumph Of Hartford Con-
vennoa iederalstS.
PARAESrFR, he democratic candidate FOR Con-
gECsS from tie ih congressional district IN Massa-
chusrus, was, on the fourth trial, elected BY a
majority OF nhut $40 Votes over his wing on