Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-03-16


ner in The banking cause. (See hls message 10
the last Beqislaiure.) IL experience teaches
wisdom, Mississippi, ought to be wise indeed, at
least. in the art Of shaving and being shaved.
/. once. SIR. remember reading little work cali
ed the Man Of Feeling Harley VAS the Hero
Of the story it was an interesting 'aie' and
has frequently occurred TO my mmd' that II he
could promenade The streets OF Columbus Of this
time, his sensibilily would be put to the test
hone. sir, there are many men Of feeling IN our
community, notwithstanding have been told, II
would require a candle and lahihon al noon day
to find them.
But, sir, 10 the point, and lei me ask you, can
the presen. state of thing exist much longerl Are
the nroud chyalrous sons Of Mississippi, so
borne down by distress that they voluntarily bend
the knee 10 ShylocA. shrinking from the fulfil.
ment OF a contract, even should II cost them tne
last drop Of their hearts blood
Can we behold unmoyed, that the wandering
gaze OF the Union, is fixed on its garden spot, to
see the little care which IS taken 10 render stable
the naia-stay OF our State, with the advantages
we possess mean, sir, n uniform and healthy
currency. Let US cast our eyes around US, and
behold, the honest yeoman, the bone and slnew
Of our country, at this season Of the year, buslly
employed in preparing COT malerla whose cir
culaIion is equal to gold and silver The me-
cbanc and The Industrious laborer, both busily
employed in their several avocalions, preparing,
what Il conducive to the comforts Of their more
wealthy brethren and Mr.. Chairman, with the
blessings Of Providence in our favor, by the gift
Of good ssasons our fertile paradise, will in the
course Of u few months, be clothed IN mantle
Of pure white. And who, can stand an idle spec.
iaior, and see industry present her with the horn
Of plenty, and not execraie the tender nude as
compensation to those who have borne the heat
and burhen Of the day.
In expressing my opinion Of this spurious
Banking sysers, would have il distinctly I'M
derstood, that am opposed TO the general sys-
TEN Of Banking in The State Of Mississippi; but,
sir, il understand correctly the objec, Of this
society, in selecting the Real Estate Banking
system, il is, because in all cases the chartered
institutions, are subjected TO the strciost scrutiny
by the Government Of oul Slate and we have
evidence before US, that misruis and mismanage-
msni are not hidden from the peoples eyes, How
alarming, sir, il is 10 reflect, that we have in the
State OF Mississippi upwards Of eight millions
Of spurious paper hoatirg about; issued by a
bou, twenty Of these self created banks, withou,
knowing that one dollar Of il Is properly secured
and that, IN addition 10 the amount issued by our
chartered institutions. What sir, is the conse.
queuce ASK the debtor, who has TO pay his
20per cent. for specie funds. But stop not here !!
ask even the credtor--ho sir, is effected-and en-
quire Of the professional gentlemen, who's duty
1t 10 10 collect, and you will frequently find that
he is in the discharge Of mis- professional duty,
obliged 10 lend deaf cur 10 the dis.resses of the
worthy and highly esteemed citizen. win Mis-
sissippians for ever close their eyes and ears,
when danger approaches che. them II they are
rocks and shoals OF our nresen. a:.. ne
VAN may we draw the comparison which we now
intend TO draw have spoken sir, in he plural
number, because identity myself with the soci.
ETY.. But. sir, will individually draw brief
COMPARISON between the New York Real Estate
Banking. system and that Of Mississippi. The
former sir, on careful perusaI, will be found 10
coDian every requisite necessary TO guard the
public veal, and sir, under RESTRICTIONS prohibiting
the withdrawal Of a stakeholder, without, at the
sametime Withdrawing The amount Of his stock
from circulation--nor is this all sir, the State has
80 far guarded the interest Of the public, that pro-
perry dcedcd in trus,t is real estate, must be-
IN value double the amount Of stock taken there.
on, exclusive Of the improvements--Stat stock
bearing an interest Of five per cent oil under The
supervision Of responsible State Officer; full,
satisfying The public, thar al necessary precau
tons have been taken TO guard the interes, Of tn,
community. In doing which, the State has onl,
done its duty. But, sir, let US look into the Mis-
slsslppi Real Estate Banking system lei us ex
anime the precautions which our rulers have n
dopled, 10 guard tho currency of our State. Her
sir. we find that and can place caption
and picture resembling Bank note, in arg
characters, capital $l,000,C00 100000, 800
600, secured by cotton, Real Estate, Bonds an
Notes, pledged TO double the amount. But
where Mr. Chairman, is the evidence Of all hi
on the part Of the Mississippi Real Estate stock
{ holders. ! Where, | say, and repeat Mr.. Chair
man, - the evidence We have Of double the d
mount secured, &c. pause sir, here for re-
ply. and notwithstanding The difference which eS
lists between my friend, Slick TWnpenny and m,
sellon this sublec,i agree with hun thus Ear
that, If the public are determined to close The
eyes and ears when danger approaches them, /
them sMGr. Much more sir, could be said, an
20 the purpose on this subject; but as have a
ready occuped too much OF the attention, aud
am fearful tired the patience Of my hearers,
will merely observe, that have sought in vain {,
the Eagles eye, which serutinizes into the oilai
! 81 our chartered nstitllons--and Om slruc
! with astonlshmenl to see our Government pa,
unnotced these Gaming Houses, OF as they Al
called in some countries helfs Of the mos. da
! gerous aud dcmoralizing nature until our curre
cy purged, Of all this spurious trash, il can n
yer be placed in healthy state il has yely pr
: perry been designated BY my friend Caution
rubbish, which must first be cleared away belo
: we can examine the foundation Of the main bu
I ding. And until it's the case, in vain may no
esi Industry ask for bread, unless satisfied wi
y receiving stone.