Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-06-15
wmCHIsTnE sHINPLAsTER PARITY

WHICH IS THE SHINPLASTER PARITY
The Democratic and Wing parties IN this
State mutually charge each other with being the
cause Of the present derangod stale Of our cur
reGcy. The epihel Of the ,hInpasier party is con
SANITY banded between Them. lfyou believe the
wings the origin Of sbInplaster issues is to be at
lribuied to the democrats. aud rice versa If you be-
l,eve the democrats. The truth probably lies be-
tween, & neither party Is altogether free from blame
IN getungup and keeping up these spurious issues.
But we lh,Gk II can be clearly demonstrated, that to
the wings, # 10 either, properly belongs the name
Of the ShInplasier patty. How stands the mat
tef We will attempt To state the Arguments
pro and con. With AS much fairness as possible.
The wings assert, thai previous to Gen. Jack
sons experiments and his tinlenng with the
currency" as they term II, we had the best cir
culating medium IN the world. Thai his veto Of
the bill to re.charttf the Unted States Bank, hi.
removal Of the Deposlles, and hts Specie Crrcu-
lar, were the grand original causes Of the do
ranged state Of the currency, and Of all the pc.
euniary embaudssmtns with which the country
has been afflicted ior ,ho last two Or three years
That 10 these causes are to be attributed the sus-
pension OF specie payments by the banks aud
the consequent ISSUING of change notes by lndi.
yiduas, companies and corpor lions. That the
Democratic party sustained Gen jackson in all
these measures. which they would have us be.
lievc have proved so runous to the country, and
the Wing party opposed him--lhat to give US a
uniform currency, and equalzo the exchanges
aud prevent shlnplaslor issues, National Bank
Is indspensably necessary and that they, the
wings are in favor Of such nm institution, and the
democrats opposed to il. That the democrats
being the dominant party, have prevented tho
creation Of National Bank and that conso.
quently, TO them attaches the odium and to them
properly belongs the name of tho shinpasler
party. Such is the gisl Of their argument
Tho Democrats deny the necessity of a Ma
liona Bank to regulate tho currency. They con.
lend that the Bank could not prevent pecunary
prossures or arrangements Of the currency, or |
shInplasIer issues, and they point to tho history
Of 1872 as an ndlsputnble proof Of the fact.
The veto OF the Back Bill by Gen Jackson, they
consider, was rendered mporaiivoly necessary
by principles both of constItutionality and cxpe-
dlency, The removal Of the ieposItes was its,i-
fled upon the ground that the bank had proved
itself nm untaIthiu tgont Of The Government, and
the specie circular was a wise and necessary
TO prevent the public domain from pass.
ing into the hands orspecuaIors for mere promises
10 pay They deny that either Gen. jackson or
ha .Gnvarnpsni. lS4 S.,ihas- te,,ssoqUy the /
'anks all this they attribute to the reckless sp.
u OF speculation aud over.tradinr which prevail
ID and which was stimulated by the impruden, ,
'ver-Issues both Of The National and State Banks +
But TO show beyond all manner of doubt, tina, n
NaVoha DahS Is not necessary to regulate the r
currency or TO prevent shinplaser ISSUES, they {
Instance tho Tact, that N some Of the States IVA. |
md ). Z, for example) where the banks ara we'll i
md pruden'ly managed, their paper passes eur. !
en1 all over The Union, and there is moi y SHIN. T.
plaster to be found within their borders. And |
urher, the rates OF exchange between moov - ii
ne states are now much lower than thew were il
turing penod Of the existence of N,to,., 81
bank' II then, the want of National Rank i is
lo' Tho cause OF the shmpasier issues IN tins f
''a'o' what Is lnquesuonabIy the manner IN ii
Which OUT banks are managed, And who man. 1
Ge our banks They aro mostly under tho Ia
control OF wings. Besides, the wings, with bu,
Wv exceptions, advocate post.note ISSUES nv ,ho
mon bank While the democrats almost 10 j, ma, :"
ppose H. The wings, ia fact as marty. A.. !, y
A'o' ol an inflated paper circulation, which :,
'aus inevitably 10 suspension by the banks ana =
sh'"p'astef Issues; the democrats deproca,e
w. ''e"''o' ana are IN lavor OF returning as =,
'"' as possible to The constitutional currency Of
o'd and silver They severely censure and con. ~
cum tho illegal, dishonest course pursued hv -
'"e oil our banks. The wings generally apollo. -
~ 'of 'he BANKS and call these denunciatons Of
10 democrats ""agtng an unjust war upon
EN- IN view Ct all these facts, and others /,
81 might be mentioned, We feel justified in dub
W he wings OF Mississippi with tho namO Of
g S"'AP'asi'r party. They call US Loco Focos, W
10 We have certainly night to return the com q
'ment and give them namo also. G.
The -. IN
= ~ communication addressed TO Gov. McNuu =,
'"e TO hand too late to be attended to in our
s'--we were so hurried at the tune, that we
'uld not give It perusal. We have since cxa !,
med It, The writer must excuse us for do.
ming It's publication, and for suggesting that the
oii'hs OF the Argus would be a much more
"ao'c place for 1t. We will checrfully publish
y temperate article IN defence nf ,ha Ifn,or