Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-12-21
Frats TIE ~ A. Nee Ers,
MISSISSIPPI ELECTION.

/ Ol all the States "a the Union, Michigan alone
I excepted, MiSsi,sippl has suffered most scysrcA
/ from the dcmcaliz,pg effects Of boated paper
/ currency. Banks have been charied by her State
I Legislature almost unlimited in number, and with
| an amount OF nominal capital which would have
I aStounded with amazement orr iorclahrts OF
some fifty years gone ~, but which had no other
] foundation than an indian rubber like expansion
/ OF their paper currency, The institutions thus
created commenced operations upon most ex.
tended scale, issuing CURRENCY infinitely greater
than their pretended capital. 1t IL needless to
/ specify the effects Of tins mnodcra;e emission OF
| paper mouey.-l.ands, slaves, provisions, cloth
| luS, ~ fact every article OF commerce or produc.
ion trebled 10 value and more than all, The
Banks catching the fever caused by their own in.
prudence, entered into eager competition with
theu creditors m the race O, speculation. For
the moment the aspect OF things was bright, a(.
fairs appeared to flourish exceedingly tho men
OF nothing, without character industry. OF expo-
Renee, but with good credi, N Bank cotctlcs, be-
came, N thor own estimation. men of wealth,
aud devoted themselves to the sole cultivation Of
an inflated idea Of their own importance,
But the Revision camc--lhe tide flowed back
The Slrutung consequence OF Yesterday became
the brggar oi to day bank paper deprecated,
and the whole business and property OF the state
were involved IN Its reterses Severely and to
the fullest exteu, Misstssppl felt the dueul effects
of her iuludcious legislation; her credit sank
abroad, and the estates of her citizens we're sac.
uhe0d almost by entire counties at home, nier
the hammer OF mo sheriff. The poop'o natural.
y turned their thoughts to an attentive consJJea.
ton Of that system which was ovettmn,ng with
dreadful havoc the prosperity Of their beloved
state.
Fortunately for them, Of tho general election
two years ago, their present enlightened and able
Chief magistrate by division IN the ranks OF ht.
federal opponents, Was elected to the guhernnlo-
rial char. For many years prc,lous Nj Nc
Mutt had been known as radically sound upon
the currency question, for which tho Federal
organs sneerlnsy designated hun as an "ulIra
Benon,an.' Ills predecessor belonged 10 that
queer class Of individuals known a. Bank De.
mocrats," aud he, with the clique to which be
belonged made vigorous preparations 10 defeat
Mr. McNuu, and would probably have uccee-
died but for the death Of their candidate lmmedl'
atoIy previous to the election.
The new Governor al his first entrance upon
against the existing monopoles, and Il with
a Legislature opposed TO h,m, no measures Of re-
form have been passed, neither have the Bank
gentry succeeded in forcing upon the people any
more of their exclusive privileges or douslvo pal.
hatvos The firm stand and thorough principles
Of Governor McNutt found responsive feeling
among the people, and they have therefore rallied
around hun, and the party which supported hin,
and produced the splendid triumph now achieved.
The reelection Of Governor Nc Mutt IN the face
Of the high and niRgnanlmous stand taken by him
IN opposition to the corrupt banking system,
which had seized with deadly gupe upon The VI
tails Of tho State, is certainly cause Of great
consratulotion not only 10 the Democracy Of the
State, but Of The Union.
Equally so IS that Of M Walker, whose tai |
enicd and brilliant career hitherto, in tho Senate
of the United States, has rendered him well
known to our friends. THIS gentleman has in
times past, been of that small portion Of the de- |
mocratlc party which vas disposed to look with
a favorable eye upon the present banking system,
lis Inlquy and fraud.-Iho OK |
porience Of his own State, and his extended |
sphere Of observation IN tho Senate. has fully |
awakened him 10 sense OF It's gteRt injustice |
and II has not now more determined opponent |
IN The country. The chagrin and anger Of the |
Federal Bank party m Mississippi, at Mr.. Walk |
or's letter announcing the views which 10 enter.
tanned was 50 great, that they resolved to make
the most desperate efforts to prevent his election,
and therefore induced the "Great Nlssissippl
Giraffe 5. s. PrentIss. to enter the field against
him, and canvass the State to secure the re-clec.
lion Of persons to the Legislature pledged to OPP.
pose Mr.. Walker. But all their schemes have
failed, and Mr.. Walker has iriumphed--nobly,
honorably tnumpbed.
Neither should we forget wb,lo flushed with
he joy Of the glorious result, to render that tribute
Of praise which s justly due 10 the jealous e.
forts Of "Sparan Band Of State Rights Men,
who, casting aside the ties Of former party asso-
cations, threw themselves into the breach, and
oobly thought the good fight" The result
throughout the State, and particularly in Kinds
md Yazoo counties, will attest tho success Of
heir exerions.