Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-11-09

The danger which we would have 'ntufsG
had Congress granted new charter to the bank
Of the United States, may now be estimated
With its vast apparatus of branches IN al' 'Ds
states and in all the commercIa Cites us pow
ers Of mischief would have been ten''old ou:
mented. Its direction would have rems'nedn
the same cunning and treacherous hands ioT NJ
Biddle's skill in finance was too highly puz'd 0Y
the stockholders TO be dispensed with. It's pow
er would have enabled it either 10 defy he scTe'
tiny Of Congress or TO bribe its indulgence as u
has done in regard TO the legislature Of Pennsyl'
vania, although that Legislature represents pep,
ula,on hostile to the bank. The bank ~ouu
have been no more likely to be restrained IN !"
irregular proceedings by Congress, than Il Q"
been by The Legislature of Pennsylvania.
Suppose that, undr the same dnecuoa' !"
bank, with new charter from the federal govern
meni-with the same temptations, and 'nhn'eg
larger lacililies-had followed the same rasl
course Jas there is every probability Il wOu'ul
that it now has done, is il not clear that Inc 's,
chief would at this moment be immense, alnO"
beyond what we can imagine, the crash Irle0uuI
and the ruin universal? The course Oh ue
bank, for years, has been series OF ndTectUn
artlul shifts, and mysterious expedenls,-H1'
the short-sighted cunning which prompted lsl
been allowed larger field, and more a"p's
means, il would only have entangled ''sei a"t
the community more deplolably in the mel "'''
Of It's own devices. n.
As a specimen Of wretched inslnceIiy WIZ
which The affairs of the bank have been manas'S
take The following passage of MIR. Blddles 'e"t'
dated March 29th, in which be resigned ule
rectlon Of the institution, and compare IL WIN
cent events: a
II have waited anxiously for the most HR'gI.
priaie moment at which could best be sPa.S
but hitherto, whenever have sought the ls'"s ~,
ment SO needed, some difficulty, IN winch ." =
service was deemed useful, always nierpOs'U
prevent me. None such exists now a.. VIZ
litcal dissentions connected with the bahN ~
last ten years, have ceased--all lis exfao,u.
efforts for the protection Of our National 'e'.S =,
are happily euded-an1 the hank nss re'oIneo 7
It's accustomed channels Of business N peao''
can therefore Withdraw at length without I'eu"I
nience, and do ii the more readily. 0ecaus'
leave the affairs Of the institution N a "ais
grea! prosperity, and in the hands oil aOls u"''
tors and officers" ~.
Since this letter was written, The stock 0, -.
bank has gore on gradually ap' =, raie
idly declining in value. II has fallen az tnS -
of more than fifty dollars on share. "a.
The principal regret which ne feel OF 'ns - -,
ure of the United States Bank is. that 4 nau ~.
occurred earlier, before II had borrowed S"'S ne
ormous sums Of our capitalists, by means - ~.
issue Of post notes. Now that the PHnclpa
rover is driven out Of the market, inol''pD -.
have better chance Of obtaining then usua.
comodaions although they find the fes'. ,Ss,
to which, in The natural course 81 business ~
would have been entitled, greatly dlmin'snso',
T.Ntr York EreniHS P0s''