The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-09-13

u 50 muSu W1ut 81 yulhlle Uetls1 II lis
truth Of llie slater pls Of COR whole Va
Buren, press. II Their Statements bid beer
credited, every specie paving bank note
would have been presented Cor payment il
"a month after the resumption in January
last, aud their post notes would not piss but
at much greater depreciation than they
now suffer.
And not only the Van Buren, press, but
the party-1he leading influential NELL
Governor McNutt, bef1re the plan Of bank
abuse was adopted as party measure. was
altogether in favor of our State banks. He
urged and voted for their increase, and was
IL favor of their issuance of post noies.-
Aaother leading gentleman has been for
many years one of the strongest supporters
of the State banks-he was all hand in
glove with them-borrowe money Of them
in various ways 10 the amount Of hundreds
Of neutrality-suspicious. largely in their
stocks-refused To pay them the money he
borrowed, aud now owes them immense
sums with which he has been specializing
for years past. No wonder he should be so
''opposed to the whole Of lhem,' and utter
such bitter opposition 10 them. Though
il may be, that if he cOnld succeed in de-
preciating their piper 10 % cents in the
dollar, he might, for aught we know, pay
them. Another very tall leading official, Of
the purity, who failed in an effort 70 become
cashier Of one Of the principal banks in the
Safe, but did not fail in making large Ioans
from it, because the bank refused to coz
time him inboth Offices of Attorney and
Director, in the same institution, which he
hid held for one or two years, is very much
opposed to baakingl
We might run over nearly the whole list
of the leading Dpposers of the banks and
busy depreciatOrs Of their notes, and trace
their opposition TO some source that would
not reflect great credit upon their future
conduct. All Of which, however, would
only shew that the invcteraie opposition
which we see manifested to the banks, is
solely because-6rst il is recommended and
adopted as plrty measure; and secondly,
they being in many cases heavy bank debt
ors, gladly join in the work Of depreciating
their paper, that they may pay their debts
so much the easier, not caring a whit for
what the community suffers by the great de.
probation.
Such are the causes of the depreciation
of the bank paper of our State. They are
plainly 10 be seen, and no man who will
look with candoT and without prejudice, can
fail of seeing them as we have stated.
But 10 ascertain The characterand causes
Of an evil, is OF but little bs.nefit. unless
we proceed to The providingef remedy:-
IN this case the remedy is al hand, and the
people have it in their own power. IF we
are TO be blinded by intriguing. interested
politicians, and be made TO believe that
Which our experience, our Judgment and
our common sense contradicls, why be il
so. But if experience gives us a knowledge
Of things which have iranspired. and COM
mon sense is superior, as a guide TO human
action, to wild schemng fanaiicism, extra
VACANT experimenting and humhugery. theh
let the people act under desire to benefit
rather than promote the interest
of denagogues. Let them use their know
ledge and experience, and-tct them cure
the evils we suffer, BY pursuing contrary
Conrse TO That which produced them.
To talk Of annihilatiag the system of bank
ing, is crazy fanaticism; and il is moreover
a degree Of madness iRo which moar hare
faIEen, for these who denounce baaks seek
to promote banking by he general govern-
men4 What then is desired to be done
The system Of banking is now evidently
disiointed and sadly out Of order-Was the
system ever in order, and did it work web,
meeting the fair expectations and interests
oc the people? We knoW this to have been
the case, for we have seen it. We have
seen local bauk paper circulate as currency
at par with specie. when every man preferred
it TO specie, AID when it was mo-: driven
home for redemption. depfiving the people
of currency and the country Of specie.
because exchange could be procured readily
at cheap rates, aud ia more convenient
form ihaa specie.
Or ONE of the most remarkable anoma.
lies and incongruites in social way, that
We remember 10 have ever observed, was
that of Prince John, or in more republican
phraseo;ogy, Nj. John Vim Bnren, son Of
-. D.. -. 80.