The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-07-19

tern Maryland and Fennay gania S. York aud :
part d y. England III she banks snan.
aged - Thefeare very Strange assertions. Would
not New York money now Sc current here And
Why? Why, bscause according q this afe urnent
the bank thatiasusd il we known Is Be 50 wall
managed that ii would Sc saksn. This afeumept
i really wanting IL common psuse. Ifany state
ii the Union could GET along witbouta National
Bank Il d 81. York. And why Very plainly, be-
cauae allothsr states that deal with her ere in
debt 70 her; and viii probably % continue for
some time 10 come.
We would like to ask the sDemocrats 81 any
other Sub Treasury man this question. Could Z
bank be established ii Mississippi, and be stman
aged'' IN such I way q that her paper would pass
as . circulating medium through the state? we
say that tits impossible. We say that If q bank
was to be eslablishedin this state with million
of silver dollars in her vault and owing not dol
lar, there are no twelve men that live that could
SO manage the institution a. to keep out and sus-
tain specie paying circulation ofone quarter Of
that amount. And would this be want Of conf
dence, Or want Of management Certainly not,
for though il were known that she owed nothing
bat her circulation, and has ten dollar in specie
for every dollars issued her bills would not circu-
late as currency, and she could not keep them
out. For every one knows that her bills would
return, almost before the ink upon them was dry,
and be exchanged for checks or specie to remit.
But what part ofhis argument is intended to be
subserved by the assertion that ssthe rates Of ex
change between many Of the states are now
much lower than they were during period of
the existence of National Bank9o If he means
to say that exchange both nays is lower &c, we
assure him that his assertion will only hold good
in regard to a few of the Northern States, whee
both are out of debt, and have other States in
debt to them; and also where there is very small
if any, current of Trade. It is the case no where
in the Union where any considerable business is
done, either state is indebted to any other
portion Of the country. So that the fact shows
the reverse Of what he would make out.
But worse than all, the banks ssare mostly I'M
der the control ofwhigs" Why really, in about
ive sixths of the Union one would suppose that
few Federalists might be found who could man.
age one banks well.
Buthesays, 1.-THE wings as party are in favour
of an inflated paper circulation.' The wings as
e patty 04S Al 1uNUt VI uO SuCu 4ACy oAC
in favour of a sound specie paying circulation
And were their principles adopted, sinfated pa
per circulation or shinplaster money, could not
possibly exist in the community.
And he further says: ave are in favour of re-
turning as near as possible to the constitutional
currency Of gold and silver" Well, t'wEo have
had entire control of the subject for some ten
years, and what have you brought the country to ?
How far have you progressed in your return to a
constitutional currency! And how far have you
increased the circulation either Of the paper OF
banks well managed, or of gold and siIver2 Look
back over the country and see, or let the ruin Of
thousands and tens and hundreds of thousands Of
honest industrious citizens answer.
There never was subject grayely presented
for consideration, perfectly destitute of founda
ton and support in reason and good sense, as the
Federal sub Treasures would present, in thei
reckless destruction TRADE, to keep the Govern
ment officers inpossession Ofpublic money, ant
the consequent patronage in the hands of thu
| President