Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-09-10
[voLUME Number 81.

: are not the same dangers more inlpendil
under the present system! ne stale bar
now present the spectacle Of large nun
Ter OF petty Independent chiefs, wagin
war upon each other. Tie stronger ovel
come the weaker, and the contest goes @
until some one wiser and more powerG
than the rest, reduces all To subsection
anG rules over Their with despottc sway
: ne state banks even now are weary o
The rulno1s strife, and anxious to plac,
themselves under the protection of som,
institution suffic emily powerful 10 sustain
them. Many have olready sworn alIegi
ance 10 the great Bank of Pennsylvania
Otlers are ready To follow tn eSample
but the greater portion are anxious await
ing the final determination of the pcople
whether they shall submit TO tie contro
o. national or mere state institu, on.
Around the former Trey wouc all ralIy
and acting with confidence and concert,
the immediate result would be, a sound
and uniform currency, and a restored and
healthy credR.-It is worthy of observation
tlat some of the very states, which object
ifon is Bank, fi len /, HI sSht6o pow
erful for the country, very modestly p o.
pose 10 charter SIMILAR institutions home
for the purpose of afordIng a currency,
not only for themselves, but for their
Ineighbors. This has been already ac-
complished by Pennsylvania. Her Nam.
moth Institution is in full operation, beyond
our reach or coniro, and yet, with all the
capacity Tor EVIL that could be attributed to
a National Bank BY its most bitter oppo
| nent. Its issues al this very moment,
command premium n this state. over
gold and silver. Our exchanges such as
I ey are are principally under its control.
WHIT could prevent this institution, with
her Imtnen-e credit and capital from satu-
rating tie who'e country, if she pleased,
with her issues? she could emit her hund-
reds of null ons and it would all be grasp
ed at; she could then contract this unnat,I-
raj expansion, call in the paper, and, &C.
cordlng 10 the argument of those opposed
t. National Bank, purchase at half price
70 II bankrupt community the property
OF I e country, lfsuch Vower must exist
let il lie under the control and supervision
of tie whole people. and not of IA single
state. But this Is the beginning only,
Other states emuloUs of this power, are
preparing 10 struggle 70 part cipation.
Look al tie great South Carolina Raj
Road Bank, already chartered in severa
states, and tie ermIEed no doubt, to se;ze
the control aud regulation OF the currency
OF the South.
Look at tie idea, long stree thrown out
and Low ripe for action, of fifty million
B INK in tie CITY of New York. Is no
The currency of Missis ppi already at til,
mercy ofother states7 : hall we continui
10 groan under this degrading vassalage
W ich will Mississippi prefer as Il e reg
nlot"r other currency and exchanges !
bank chartered by single state, IN liz
construction and llmitat ons of which, Sh
has no voice, and In tie superyis on an
cnnirnl of which she has no Lower. or OF.
chartered by Cong eSs, n every proslS Of
ofwh!ch her voice will be heard, in ever,
limitation her suggestions considered, all,
over the conduct and operations of which
she will in common with the otter states
exs rcise a continual supervision ard con
lfral? Tie question now submitted 10 th'
people is whether tie currency ofthe coun
Try shall be restored and regulated throug
the action of the representatives of all II
states, or by the legislation ard monte,
power ola single stated regret that tn
limits of this communication. W Il not per
init me TO enter more at large upon hi
view of the financial quest on; | trust
f however | have thrown out sufficient hint
; on tie subject to attract attention, ard /
1 constitute a starting point for reflection
| But | have already exceeded the bounda
. ries had prescribed. If the people sha
4 SEE fl, through tTeir represen atves, I
elevate NE 10 the high and arduous static
, towards which your kind partialit;es hay
pointed. can only say 4 a. for the fidelt
q of my future service. offertlem the graI
r artv Of the past. To my fellow cit zen
+ of Mad son whom you represent, as We
r as to the wings of OTHER sections of ii
i state WHO have honored me with their III
e expected and unsougt confidence. allo
f me tp express my most sincere and graz,
r ful acknowledgements. That may CIV,
d prove worthy of their good opinion is n
il highest desiie; that may he able. IN evo
the smallest degree to advance our con
. mon principles, is my sole ambition. I
: ourselves gentlemen, permit me 10 pr
sent my thanks, together with my be
:. wishes for yorr individual prosperity.
3 VERY respectfully,
s Your ob't servant.
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