Piney Woods planter. (Liberty, Mi. [i.e. Miss.]) 1838-1840, 1839-11-02


tend to produce ARIsToCRACY, and to cor
rupt the purity of our REPUBLIC.
Z. The second objection is, that il tends I,
enrich the few and empoverish the mass of tn,
PEOPLE. For even If, in the common phrase
ology, the banks FAIL, they, nine times out O
ten' DO so dishosestly, and always profit there
by. How easy il is to have out confidential a
gents 70 buy in their deprecated paper. wher
individuals or corporations fail, and cannot &C
count for the same by some heapy loss, be yor
sure, FRAUD is at the bottom Of the transaction
8. The third and GRAND objection is that .
National Bank, owing to the Unsuitable avaric.
OF man, in general, acquires the power to disturb
the government; power intoxicates most men
And the President and Directors of National
Bank, at last, begin to LUST for the appoint
ment of President of the United States; and to
regulate the government.
8. A state bank is liable to all these objections
but their influence would be confined to state
and would be 80 cireumscribed that they could
be, at any time, easily corrected by the people,
and could do no injury TO whole country, un.
less the United States, in their monied power,
should enter into some CONSPIRACY against
the Democracy. This could not be executed
with so much secrecy as to avoid detection
10. Standing, as we are, the second country
on the Globe, in point of commerce, we are dri.
ven to the use of paper; unless we would cut
down our commerce to the RATIO of METAL
But rs must keep our paper sound. Like good
Surgeon, we must cut and cauterize till we have
reached the bottom of the ULCER; separate the
dead from the living parts; apply the proper Sa.
native, and lastly, if necessary, AMPUTATE
This will be the proper business of your next
Assembly.
H. Mr.. Editor-having given you my opinions
of the United States Bank, in as condensed a
way as possible, and having limited to you, and
the people, that uastly prefer Bank Of each
State; will now propose plan for state bank
which, think, every man in Mississippi will
eleuriy understand.
70 Let there be only ONE Bank in each state
Let it consist of such capita, as The commerce
of that state may require. Let this oc the bank
Of the whole people. Let it be established BY the
legislature of each state; and be under their con.
tinual superiptenience. Let the Directors OF
the mother bank be chosen by the Assembly,
and those Directors appoint the managers of the
minor banks, into which the mother bank may
be RAMIFIED. Let the branches report annu-
ally, to the mother bank, and the mother bank
make GENERAL report to the Legislature,
or in absence of the legislature, to the Governor
Is. The Bank of England iss~s- ESQ ,n0n. 900
of paper, and seldom has more than S5,090,000
of metal in its vaults, viz: ten to one, exclusive
of Bills of Exchange Nor is it Of any conse'
quence whether il contains ONE DOLLAR oil
metal, because the BALANCE of trade is in her
favor, against every country. Consequently,
her paper is superior to GOLDor SILVER, over
the COMMERCIAL WORLD.
Ia. A bank depends much more upon its GRE
DIT than upon the metal in it's vaults. Direc
tors should proccedvery cautiously in the issues
they make at first, and wait till they find them
pass well and to distance When they have
these objects they should do nothing
to lessen this circulation, but every thing to
1t. After while they can increase
their ISSUES, benefit the community and make
a handsome revenue for the State.
Is. There is no man in NJ ssissippi who will dpsr
the inability of the people to keep up valid
bank; yet, they cry out for U. S. Bank. They
want a MASTER. Samuel was compelled to
give Israel King.
ccs, which will make some difference between
the currency of one state and another; LIST, re-
moteness or contiguity to navigation; Cd, the
condition of state, with regard to her imports
But as long as her Banks are
sound, the difference will not be so great. When
ever a state imports more than she exports, the
banks must SYMPATHISE with their state.
II. In the mean time, FELLOW CITIZENS, ami
hilato ALL PRIVATE banks. Direct those that
are valid to wind up, and those that are unsound
to COMPOUND with their creditors.
IT, Having thus, Mr. Editor, in plain way,
offered my opinion on the banks, now tho great
ngtating question of the two parties, / must
take my leave of you, hoping that have done
for the great cause of DEMOCRACY.
Your zeal and industry, have no doubt, are
effecting much for your PARTY. Go on and
PROSPER Yours, &c.
ONE OF THE PEOPLE.
..>,w~.a mS>4shN