The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-11-22


Banf of like character With us other local
banks that "a notice Ne facs would Sc an
entire waste e sineand paper. as il not
ior these s ltenpl deceive tie
ininiofned BIZ OUT opponents HE Bank
q question has no more 81 ae chaFacler d
features &c saonal aaaIs han has lie
Conn ercial Bank 81 dis City any aihes
STATE Bank. Ishas much less oE ille chas-
aeter 81 Natonal Dank than the Paniers'
D Union Banks, 81 ans other STATE Bank
having branches, So Thai il il quite clear,
that al ille argn uncut Of lie Van Baren men
against die Pennsylgania Blnk, 8 10 much
in flvor Of our position against tie safii.
cheney and utility &c Tie State Bank SIS.
TEN.
Asub-TreaSa4g Argument looked -.
The Van Bufea inea deny ihe figst of
the General Goyernfnont ID hats aay hing
Whatever 70 do With tlls subject 81 Domestic
Exchanges. For, say they, il 8 lie business
Of Congress 70 legislate for the general
welfare Of The great mass 81 tlis people,
and not to undertake @ lsssen Tie rate Of
exchange ii order that ! Jea monied men
may be able 10 make cheap transmissions Of
their funds.
We agree with them precisely. The bus
mess Of tie General Goyornmen is 10 cons
suit che general welfare, DC tho great mss
Of The people, and not l s.fsw, whether
such few have money o. o1ice But Who
pays the premium upon domestic exchanged
Who sustains thesburden of high rate Of Ok
changes2 Is i "a ffssr,' Z 81 stas great mass
Of the people q'' Now, II IS well known thai
the burden Of exchange is borne BY cvery
nan IN the community which has exchange
against III and precisely in proportion 70 the
quantity Of goods or property, to Be paid for
BY exchange, which he consumes. The
.consamer pays the ercHange on uhat ne
consumes, and the merchant who actually
performs the remittance pays infenitly less
than the former because he. consumes less.
What is exchangea We take 1t to be the
transmission of money for the payment Of
property purchased ata distance. Well sup
pose the rate of exchange is ten per cent.
Does the merchant who imports the goods
and Transmits the money, make ten per
cent less upon his business than If exchange
was at par? We all known i little better
than that, BY avery sad experience. IN Mis-
sissippi, large portion Of our provisions, all
our plantation supplies, and general .mer-
chandise. is purchased at distance, and
has to be paid for at !. cost Of from FIVE 10
thirty per cent. exchange over and above
the actual cost Of the articles. And who
pays this additional expense "a few who
have money to. tfansmiti'' Not exactly.
Epery man who eats, drinks or uses any Of
the articles so purchased, pays the exchange
whatever It may be, upoa every whit of the
amountsof his consumption.
II IS very easy thing to talk about ga
few men who have a great deal Of money 10
transmit" And the sound jingles well with
neWfangled 'sdemocracyp But every man
who has pernlissiOn-to think, must know at .
moments thought, that he who uses Or con
sumes propertysor merchandise, bought at :
distance, and for the payment ofwhich ex.
change is required, pays besides the meF
chants profit, every dollar and every centol
cost incurred by the merchant in furnishing
the article, whether it be original cost. ex.
pence Of transportation, insurance, cost 81
returniug the money to pay for it and every
other item of expense attending the whole
transaction.
This important and unquestionaele fac
is woFthgsof all consideration. II, then, the
General Government, can lessen the bnrdef
of exchange, and is bound to labour for The
ssgeneral welfare" Of the great mass 6f II.
people, itcannotbe about this work too soon
Martin Van Buren, to the controry motWith
standing.
speaker of the United states House OF
Representatives.