Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-11-05
A.G. McNUTT AND THE BANKS.
CHAPTER SFcoNn.

Having shown what were the opinions
entertained by his exeilency previous TO
his elevation to the senate in 1885, and
having indicted him with due formaity
into that august assemblage, we shall now
attempt 10 show what was his course while
member ofthat body. And here it NAV
be as well TO enquire, how far his legisla.
tlvecareer accorded with the course which
his friends claim that he has uniformity
pursued. His termof service in the SEN
atc was.we believe, in the year 1886 and
1887, after which he was elevated by
minority 10 the station he now holds.
During his service in the senate, the bank
making mania reached It's height, and in
those two years some eighteen ban IS
were created, and Of those eighteen, Gov.
Nc Mutt, that apostle of hard money, that
great bank Halter, was found voting for
| FOURTEEN with an aggregate cf more
than SEVENTEEN MILLIONS OF
DOLLARSM And now what banks
were they that our hard money Governor
aided in cursing the country with? Are
they generally good and solvent institu-
tons On the contrary, with enc solitary
exception they are the meaneSt banks in
the state, and from the very nature Of
things it must have been kaocn that
great majority Of them nerer acould be
worth any thing. Yet did Governor Nc
Mutt vote for them--yet was he found sus
tanning them upon all occasion. Four
teen banks with Serenten millions of capi-
tai, has Gov. McNutt been instrumental
in fastning upon the people of Mississippi
with their GU ADRUPLED MILLIONS
Of worthless paper; and yet says he. have
al'odys been opposed to banks! To sus-
tain our position, need we name thirteen
ofthe meanest banks in Mississippi? Need
we point to the "Benton and Manchester
Rail R0Id aud BInking Coz" N. ed we
name the Mississippi Shippi9g Corr
The, Lake Washington and Deer Greek
Rail Ro1d AMI Bank ng Col" The Com.
mercia|, Bank of Cozum5uSl" The Com.
mercial Bank of Manchester" The
"A6erleeRnnd POniotoc Rail Road and
+ Banking Col" The Northern Bank Of
Mis- issipmP The "CITIZENS BANK
OF MADISON COUNTYr' Tie
"BANK OF GRENADA" The bank
of Lerington" The .Ncksburg Water
Works Bank" The '.Hernando Raj
Road and Banking CO.." The Tombigby
Raj Road and, B1nking Coz" and last bu'
not least, that beautifuls plaster concern
the particular and especial favorite OF his
excellency, the.BANK OF VICKSBURG
Not only did Gov. McNutt vote for near.
ly every 6atlk charter that was offered in
the legislature while he was a member oil
the senate, but he actually Offered resolu.
tons proposing to increase the banking
capnalo of the state MILLIONS Of DOL
LARS: Not only did he vote for four.
teen miserable shinplaster banks with ar
aggregate capital of seventeen millions oil
dollars, not only did he offer resolutions
in the senate proposing to increase the
banking capital of the state MILLIONS
Of dollars, but no sooner had he beer
elected Governor the state than he rec
commended to the Legislature in the strong.
est terms the issuance of Post Notes 4
Ave, ihis-same bank hating Alexander G.
NlcNutt, placed upon record the strongest
Recommendation of POST NOTES that
was evcr registered upon the journals Of
the Mississippi Legislature TO him then
are the people of this state indebted for
the swindling banks which have eat oui
our very substance. To him then are
they indebted for tie millions Of worthless
and degraded paper, which for two years
has cursed the band To him ara they IN
deb,ed for the millions of deprecated
POST NOTES which have been thrown
out 10 shoals by banks Of his creation.
To HIM in great measure, are the people
indebted for the destruction Of state credit,
: to him are they indebted for that system
OF banking which has swept over this state
ike a pestience, blighiing and whitening
every thing IN rs course. Do the people
lof Mississippi wish coordination Of the
scenes Of frightful ruin and distress which