Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-05-04

trasied light IN which the two kinds of rag none,
makers are held IN the community. The on,
rolls with his coach and four in every luxury
while he other wears straight jacket aud ham
mers iron in the penilenIiary.
We need not be told that there arc bank Jirec.
tors who are as worthy, honest and useful citizens
as any in the community. We are perfectly
aware Of the fact. Banks also which were inie,I-
ded 10 have been conducted upon tho old.fashion-
cd principle, to wit that capital should be the
basis Of their credit
To banks established upon This principle ne-
lhcr Governor McNult or his political friends
have ever been opposed. Every body knows, too,
that excessive banking in this State has opened
door to gambling speculation and systematic
fraud which, foi its extent and blighiing effects, is
unparalleled in any country, and which falls al
most entirely upon lheheads Of tho honest Iubo
ref, the struggling mechanic and the whole pro-
ducing classes men who seldom OF never bor.
low money from banks, and who have no con
Gection with them, but 10 receive their deprecated
paper for the labor Of their hands. To this sort
Of bank gambling oil democrats are opposed, who
aro true to tho teri Of their principles, to wit
The greatest good Of The greaiesi number
The original business Of bankers was to loan
At interest their surplus capital TO solvent men.
This Is all a fair operation. and is beneficial 10
tho community. But our modern iinanciers have
greatly improved upon the old style Of banking.
They commence banking when they wanr to Dor.
rom money.
Now, what u tho operation necessary set
OF ------ men, (ihe reader can FIJI the blank 10
his own iaste.) without capital, but who wish TO
enter into some speculation quite as magnificent
MS Lanson's celebrated land bauble, petition for
charter. The Legislature grants them The priv.
lego 10 stamp rags. To the Owl Creek Bank for
instance, (ior the legislature had chartered so
many banks that il was somewhat d flicult 10 give
them all comely names.
The Owl Creek bankers borrowed rags Of some
kindred factory to enable them to pay five dollars
on hundred OF their capital stock, until they
could organize and get their blanks from the en-.
gFaycrs Tor cngrnyors are The mos important
persons to our modern bankers. Indeed, there
was time when many of our good citizens were
on The brink oil bankruptcy, because n certain
bank in this State could not Obtain blanks, that
they nigh, ISSUE money to relieve their great dis
tfcsses.
But the Owl Creek Bank viii soon be " in the
tull lido OF successful operation Her money |
Will be good IN her own neIghborhood Tor time,
because at first they will manage it with prudence
As soon as their paper will pass current the d.
reciors assemble and loan themselves from one |
10 two hundred thousand dollars of this counter
teal money (tor presume no man viii call it
-eal moncy,) and immediately put i, into crculn-
lion. The unsuspectlng planter sells his crop
Tor H. The honest laborer takes il Tor his work,
aud The small lIudesman is willing to receive 1t IN
the operations Of bis business. desire Of gain
the ease with which all men can I'LL their peck.
els with these rags induces others 10 Try their for
tunes IN speculailons. As soon MS the directors
" grist is ground any body else cun DO accom-
modaled al this rag mill. In this manner mill.
ions Of their counterfeit money gets into circua-
ton. In sholt tune confidence is shaken In ihp
solvency Of the Owl Creek bankers. Some man
presents a hundred dollar bill lol specie and the
bank suspcnds payment,
Now wo to Gen. Jackson, Mr.. Van Buren,
and Gov. McNult, for the Wing scrlbblcrs will
show most conclusyely that il was their war IN
on the banks which crippled the operation" of
tho Owl Creek Bank when il was generously
coming forward TO relieve the distresses Of the
people, In short time doubtless in conse.
quenco Of Governor MeNulrs war npon tho
bauks,) their paper appreciates from % 10 so per
cent. The same bank gambler who, if he had
not been allowed to loan his credit as monep TO
the community, would never have been worth a
dollar, now goes into market buys up his own
deprecated rags nj tins enormous discount, PAYS
| off his debts TO tho bank, aud comes out rich
nabob while this same operation reduces hon
cs, industry TO poverty and nakednoss.
One hardly knows which most 10 admire IN
this vortex of corruption, The lmpudence Of il.
actors, or the reoklessness Of the whig press il
sustaining them. and abusing every man who ha
the independence 10 oppose this en,daring fraud
i This Is the system of banking, Il viii call !
by that name,) 10 which Governor McNuu an,
his democratic friends are opposed.
| Let the honest operatives and producers Of III,
country rally around their Governor to put dow
those poPanmoney factories these Speculation
and shaycrs--these legal and illegal counterfeit
ers. The evil Of this monstrous system has be
come apparent TO ALL It's vain for the monste
Of speculation and fraud TO put on the garb o
public veal 10 cheat and delrand honest industr,
Of the rewards Of ITS tot. -.lilssissippiaa,
Morality Of The Siaga--lf man woul,
know the difference between passions OF a socia
and an anti,social nature would he feel what hi,
itself is; would he learn The genuine sentiment
Of nature , would he see the best natural com
men. on the Decalogue let HIM enter into tb
passions Of Shakspeare's Lear, when he feel
~ ~
he learns the story OF his. fathers murder 0
oihelIo, when he shudders at lagos tale lie
him reflect on the sentiments Of those who hat
suffered by ihr ambition of Richard, or the ava
rice Of Shylock; or the cruelty aud lust Of Ba
iazet and he will know the difference between
right and wrong As clearly rs from The hes, nor.
alisis that ever addison.