Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-10-22

The price.of your cotton, or your corn,
or any other article that you may
raise FOR market, VIII not be increased,
MOI. will you Be enabled to sell the same
for better funds; whereas, on the contrary
the articles that you consume, from the
fact of the auctuation in exchanges, and
heavy discounts at which your local bank
paper would be sold, in foreign markets,
would continue as it now is, and as it has
been since the expiration Of the charter Of
the U. s. Bank.--a tax of some SO per
cent. added to the ordinary profits of the
merchants, on everything you buy.
The sub treasury system win compel
the importing merchant to pay the duties
on his goods in specie;-now, if this Inn
porting merchant should be compelled to
sell the Bank Notes he may have taken ia
the course of his business, at SO 13 per
cent. discount, the difference would be
added to the price of his goods, and the
jobber,-and then, the Mississippi mer-
chant; and then, you, the consumers, final
| " pay the difference, with an accumula-
ted rate for every hand through which the
goods you consume must pass.
If the Government is indebted to any
one of you, they viii give you Treasury
notes, bearing interest, | suppose, (at least
they are now doing SOL at the same time
they require specie for public lands, and
for all claims of whatever character. The
brokers, and shavers. are the men who
are to fatten, on scheme that has beer
attempted to delude you with, as some
thing calculated tie relieve you from the
trash Of the state. Treasury notes bear
or do now, or per cent, interest; anc
there are now some 8 or 4 millions In cir
culation--but how many ofthem have yo,
handled or even scent But few, and so
would be if there were 80 millions in cir
ulation;-capitalists would buy them u
and hold them for redemption, as it IS no
intended to make them circulating me
dunn, any further, than the government
concerned But can see no reason how
ever, for supposing that that amount wi
ever be out at any one time. Go to tn
lie aiding merchants of Columbus, and eli
quire of them, candidly, how the preseu
state ofthe currency is operating on thei
interest, and | apprehend, as indeed,
know it to be fact, that they will tell yol
that they have made double the profit
they ever did bcfore-frst, they have mad
and arc compelled to make, a dlfferenc
agreeing with the rate they pay for ex
changes? and next, as that difference is nc
settled, they have put on some 33 8 pc
cent. more, TO be sure they do not loose
And though by no means blame tn
merchant, as the. purchase, on your par
was free ard voluntary act Of your owl
il was the state of things that you are call
cd on to remedy that compelled 20
to submit TO such an enormous tax. Tn
sub treasury system it has been contende'
by some of your prominent men, is now i
full aud vigorous operation, and onl
wants the formally of being approved b,
the people; admit it, for the sake of argu
ment, and | will shew that it has not ex
tended lis genial influence TO our unfortu
nate country. Do you not know that yer,
recently, at the sale oflands for account o
the Government in Neshoba, some 600
acres were knocked off at 5 cents per acre
lands that are supposed TO be cheap a
s. per acre. Or are you not aware tina
the sub treasury scheme proposes only
currency for the government and not 70
the people.