The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-07-19
=. which Is the shinplaster Party,

- Which Is the shinpIaster Party,
"The Democratic and Wing parties in this
Estate mutually charge each other with be-
"ing the cause Of the present damaged state
s.of Our currency. The epithet of the shin
Nplaster party is constantly banded be-
'stween them. If you believe the Wings
"the origin of shinplaster issues is to be at
"tributed to the democrats, and cice Uersq,
"fyou believe the democrats. The truth
':probably lies between, and neither party
lis altogether free from blame in getting up
1and keeping up these spurious issues"
lbsvdoove is from the Columbus Democrat of
the 18th uit, and it lie followed by an attempt at
an argument upon the proposed question Of near
> column in length. Was it notthat it would
take up too much room in our paper we would
publish the whole of this articles Cor the purpose
of showing the entire want of all reasonable ar
gument upon the sub-Treasury side Of this ques-
ton. The Democrats article, however, has one
rare merit. 1t is almost the only attempt at rea-
soning, which we have seen in Ioco-foco paper
upon this subject for a year.
He says that the wings lock to the veto of the
Bank bill. the removal Of the dpOsites and the
issue Of the Specie Circular as the 'grand origin
al CAUSES Of the deranged state Of the currency
And the democrats as be styles their party, attri
butte the whole deranged state ofthe currency ito
the reckless spirit of ovsrtrading which prevail-
ed" Well, this is tolerably fair. The wings
charge the Government and the Fsderalists charge
the People with causing the great pecuniary diff
fculty.
He does not however correctly state the COM
plant of the people against the government, in
this respect. They are, a. We understand it; LIST
the want of National Bank to regulate Domes-
tic exchanges, which would soon regulate all To-
cal bank currency, and blow to the four winds
the whole 'twar upon the banks,'' which occa-
sions distrust in them and unnecessarily cripples
their operations and induce immense boarding of
money By capitalists from circulation and use;
and 3rd, The practical operation of a sub-Trea-
sury system, which is ofitself pecuniary warfare
against the whole banking and credit system, a
boarding by the government Of ell the specie it
can command, and total prevention of all do
nestle exchange operations, particularly from
debtor communities. But the Federalists charge
the whole difficulty upon the ssrseEsness'' of the
people. 49,
The following is the principal argument used
By the g Democrats in els whole article.
HBut toshow beyond all manner of doubt,
that National Bank is not necessary to re-
gulate the currency, or to prevent shinplas-
ter issues, they 1.-THE demOcrats) instance
the fact, that in some Of the States IVA. and
s. c., for exampIe1 where the banks are
/ we'll and prudently managed their paper
passes current all over the Union, and there
#
borders. And further, the rates Of ex-
change between many Of the States are now
much lower than they were duringa period
of the existence Of national Bank. Ifthen
the want Of National Bank il not the cause
fthe shinplasteE issues IN thisS tate, what
ISL nquestiOnably the manner in which
our banks are managed. And who manage
| our banksa They are mostly under the
control Of whigs.' 2
This Is the Kin 4 ofaKg ument that The Federal
iass ars driven to, il support IS the Sub Treasury
Auiors deplorabie ignorance upon the subject d
lcnrssney and exchanges, could mol Be exhibited
Now who does not know shat the local bank Pc.
PEI Of such states s. have Indebtedness, but have
other atatesin debt 70 them, will pass currently
abroadg And for the reason that The banks car
give exchange for Them, 81 if they do not the hol
dsls can remit tie bills themselves; and not bei
causs she banksars we'll ananagsd' y II i strange
indeed that Ii the whole South and West and ]
pers u ths middle and s. England States theg
cannot have ons bank we'll managed But no
the Sub Treasury reunlent i that in iour hfthl
s The Ssatss the Union every solitary bank I
bedly managed. Well. what reasonable expec
tation have tbatthey will syer s. better. man
i aged And how happens e thai ia Virginia Eos