Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-07-16
saoIttteaI.
From the Nslo York Eue1aing Star.
PETER SCRIBER.

print, in consequence of his writing rather
ahard working handy we give the following.
Should It find favor, the best evidence VIII be
bg action upon the propositions It contains
The difference between our country and others,
is this, with us The people are the masters, ana
are expected to tell their agents vhat TO do;
while in other nations the sgorerning P0lcer"
is emphatcally so, and they wait to know what
their masters desire to do; hence with US IS the
duty to act, not to wait for government action.
And Peter Scriber requests Us to say to all ed
itors who insert his communications, that by
sending in their bills he will pay them all as
soon as we have an cqatalized currency.
TO THE PEOPLE OF THE U. STATES.
No. II.
When a good thing is required TO be
done, the best way is to set about il at once.
| therefore propose, that in every town OF
every county of every State in the Union,
such citizens as may be interested IN Sc
curing TO themselves land to their children
who are to follow them, a good sound
curvency-such currency as shall be as
good at one end of the country as at the
other--at once to assemble and prepare a
Memorial TO Congress, setting forth the
fact that the country IS now, IN regard 10 q
cHrre@cy, in a very deplorable condition,
with every prospect of becoming more
and more so, till its best interests are sub
merged in the general ruin. That Con-
gross (unless it can in It's wisdom devise Il
better plan) should at once charter a M
tionat Bank, with an ample capital and
power to establish branches at all the lead
ing points of trade in the Union: ono
half The capital of said bank 10 be oIened
10 subscription in such State Bonds as
shall have been created IN aid of internal
| improvements within the States respective
", (equating some by congressional repre-
seaiation); and the other half of the capt.
tai to be subscribed to by citizens of each
state in money-{the amount of subscrip-
ton in each state being equated as atove.}
The issues of said bank not to be in bills
less than 90 or so dollars, and the whole
/ amount in ne case 10 exceed the amount
of its capital.
As the stockholders of the bank are IFS
| legitimate owners, such of them alone as
are citizens of the United States, are TO be
allowed the exclusive right of electing its
directors and managers; and 7co thirds OF
the number of such stockholders concur
ring, can at any time ask Of Congress, such
amendments and changes in its charter as
Congress may be disposed 10 grant.
As National Bank cannot effectuallr
equalize the currency of the country unless
it has the collection and paying of the pub
lie monies. it should be charged with that
duty, and perform The same free of charge
andexpenSe to the ACKNOWLEDGEMENTS
to make all payments in specie, wherever
and whenever so demanded.
AS the Treasury Department, bv tie
law which creates it, is directly responsible
TO Congress, differing thus far, and wisely
so, from all the other departments Of the
government let it be the dusv of said de.
partment by special law of Congress, to
J keep general supervision over said bank,
and establish such rules and regulations la
accordance with said laws, as shall keep
Congress informed at all times regarding
the operations Of said bank that in the
event OF occurrences rendering the public
money insecure in the keeping of said
bank, that the same, by law of Congress,
may be removed from the custody of said
bank--thus keeping the control of the
: public money ia the hands of the peoples
repreSentatveS-the only branch of the
government hat should be entrusted with
its control.
The practical operation Of such bank,
thus constituted, would be-
LIST. To give immediate relief TO all the
works of internal improvement which the
States, by their bonds, have attempted 10
ald, converting at once twenty five or thir-
, ty millions of dollars Of State bonds-now
daily depreciating in value at home and
abroad, into bank stock, that would COM
mand IN the same markets The highest
: rates that any securities bear; and unless
some plan OF this kind is adopted, our rail.
roads and canals must stop midway. or
obtain capital to finish them at most ruin
, Gus sacrifices.
Cd. The existence Of a National Bank
with capital ample for the occasion, (say
, fifty Or sixty millions of dollars) subscribed
to as above, can alone shield US from the
mutations of European money markets, or
national policy of foreign institutions, and
> save us from the necessity of conforming
to every whim or caprice that the noneta.
; ry plans of foreign nations may impose !:
for without National Bank of our own.
we arc as dependant financially on the &C.
ton of those of Europe Especially the
Bank of England) as we would be politt-
caily dependant on the government of Eu-
rope, had we no national government of
cur own.
Sd. The issues of National Bank be-
ing limited to bills mol less than 30 or so
dollars, in no way interferes withthe issues
: of State Banks, but by salutary control
: keeps all grades of circulation in sound
r condition. and is the only practical means
! of Kidding the community of a spurious
currency which now infests it, and which
: spurious, and deprecated and disgraceful
currency can find no favor, save among
the special fesc, who are interested in palm.
= ing it off upon the community.
4th. The creation of National Bank.
whose issues would be redeemable IA soe.
Gle at all points of the country when de.
: manded. would at once equalize OR inter.
nal Exchanges, so that our farmers ane
3 planters -our merchants and traders
, our mechanics and artizans,. cssn trade a
= all OF any point of the Union, and inter
change their commodities upon a sure ba
SIS, knowing that delE7r here is n 9ogl,,