The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1839-06-27
10 THE pIRxcToRs o. THE
laiIssIsslPPI AND ALABAMA RAIL-
ROAD COMPANY.

. GENTLEafrsN - Inving resign ed the Office
Of President Of The Mississippi and Alabau1a
Rail Road Company, which was twice con-
ferfed upon me by you, duty and courtesy |
prompt meto express my GRATITUDE for your
kindness and eonfidence. For more than
twb years, / have been assiduonsly engaged
in discharginSs 1hesduties pertaining to shat
Office; during that time, exuberant praiss,
and unmcasured abuse, has been applied TO
me; still sustained by You, have endeavor-
edto pursue the path Of duty.
Shortly after the Bank commenced opera
tons a suspension Of specie payments
throughout the country, was announced; dis
tress pervaded the land, and no section Of
the country suffered more from the d:sas-
irons effects of the suspension than Missis-
sippi. The Oldest banks of the State were
compelled to restrain their issues, some from
indebtedness to the General Government,
others from express prohibition in their char
ters. AT this iuncture we were importuned,
to make advances on the colon crop; many
ofthe planters ia person, Others by letter ad
dressed to Us, pourtraying in the strongest
language, their necessities and distress may,
moi few declared that the snbsistence Of
their families depended upon discounts by
the Brandon Bank. To their urgentand oft
repeated solicitations, we yielded; discounts
were made; our conduct was approved; the
rublic prints throughout the State teemed
recommendations of the noble and generous
policy of the Brandon Bank; the strongest
evidence of public appreciation was rendered
me, and so long as our discounts continued
not whisper of discomfort was heard. But
when we determined TO qua discounting, a
feeling of disapprobation was manifested;
spirit of hostility engendered, which from
that time TO the present has increased. But
however much l may be denounced, and
however ianpracticabie it may be at this
time. TO redeem our issues, you will sustain
me IN the declaration that our means are ul-
timately sufficient, our loans having been
made to good and solvent men; and that
when they were made, no doubt was enter
tanned, but that by collections, and 1hssex-
change upon our shipments of cotton, the
Bank would redeem her issues, and resume
specie payments at the same time of the
Iother banks of the State. Our wishes and
our anticipations would have heen realized,
had the cotton pledged to the Bank in the
winter Of 81 and the spring of '3S, been
/ delivered, or even one half it; but in this
we ere disappointed; and our expectations
have not been realized in collections Inow
assert upon the best evidence, that If justice
is accorded us, every dollar of our paper
can be redeemed. In the present enbar-
raised condition of the State, some time may
be required to accomplish this object; but il
any doubt is entertained as to the ultimate
solvency of the Bank, my assent will be
chcerfully given for an investigation into its
condition, by committee of honorable men
from any part of the State.
In retiring from the Presidency Of the
Bank, it is not my Intention to withdraw
from the Directory, on the contrary, every
aid in my power shall be given you; neither
vulgar abuse, nor threats, shall ever deter
me from faithful discharge ofmy duty.
have been the child of adversely and OF
prosperity, and am prepared to enjoy the
comforts of the latter, or submit to the pri-
yations of the former. My interest is iden-
tilted with that Of the people of Mississippi
and whether good or evil shall beGa1 me.
am resolved to cooperate with you ia bring
ing the affairs of the Bank to successful
Termination, and will do this with pleas.
ure equal to that enjoyed in cooperating
with you in giving relief by our issues to
our oppressed fellow citizens in '37 and ,3S
The paper Of this Bank, when loaned, either
was useful to the borrower, or it was not
II applicable to the purposes of the borrow.
err, contend that he is bound by every priIl
chile of Justice and honf r TO linuidafo HI,
debt contracted with the Bank. II, however
the money of this Bank did not answer tn.
purposes of the borrower, and could not b,
applied by him to useful purposes, is il no
strange that rational, intelligent, and enter
prising men should have sought it with s.
much aviditY? But every man who wa