Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-10-05

/ system OF mat time mn % Mississippi had cared
! 20 60 So ,arI And my feco dcd votes stand upon
the journals Of tie Senate in 1886. ard at every
succeeding session. 10 favor ct The same psirc-
| pies. And now, whilst ia 1896, was in the SEN
ate Of tie United States opposing the banking
| system, What Was the employment Of any compel
| uor, ). PrenusS. in the State Legislature D.
| Let hiS recorded votes and speeches answer -
| Let h,S vote AID speech ~ iyaf Of the Brandon
| Bank lCthis vote IN favor OF the other immune
rah'e spun0u, and spcci,!e>s Banks. which were
chartered at that fatal session answer the ques.
uoul Nh. PreuliSs was one orlhe au'hors ol
| these miserable Banks, including Ihe Brandon
| Bank, 10y which latter institution alone, bs he
! depreciation Of It's paper, al lelst oue.u,lion @.
dollars ha, been lost by iuc people Of M,si,sip.
| p. May mol lhon e1eg citizen uhu nav hold,
OF has lost BY the tran,ltreia e WORTHLESS, paper OF
! the Brandon and other SPURIOUS Banks cJrata by
! Mr. Prcuuss vote, uow say ia that gentleman,
you are one of the authors of oil my losses and Of
| the cuumi,lcN inflicted upon The Safe by the
! banking system. May uot my freud, also be
! permitted to enquire, what would have been the
FsIiuauun OF thl> State, II tie doctrines advocated
! by me in 1894 aud ia 1896, had been successful
| II no banks had been created except solvent
| State Banks, founded upon a metallic basis nor
even Sugh Banks, without an exclusion of all
Bank notes under twenty dollars nor even then,
unless With charters, requiring them TO promote
the circulation OF gold as proposed by me- II
these doctrines had then prevailed, wuht would
| now be the situation OF the State OF Mississippi
Not one Of the present Banks would now be N
existence, for not one of them contains any one Of
these restrictions, aud the State would now be
prosperous and happy, with large circulation
both Of gold aud silver, and bat very hllle bank
paper, and that oi a sound and solvent character.
Such were my views IN 1884, and in she fad 81
1892 Will be found then Published an address writ.
ten by ne " tayol of the veto Of Gen. jackson
upon the Bank OF the United States, from which
| II Is only necessary to quote the following sen
tence Friends Of freedom, are you Hing To
enlrust your rlgis aud liberties to the keeping Of
tbs great monled power, which is above aud be
You'd your control, and which threatens 10 pros
trate the government itself and 10 Substitute the |
Government OF the Bank for the Government Of
the people,
Wien in 1889 here was but one bank IN c&.-
tence n tbs State, nothing Is more notorious than [
my lAed ahd determined opposition 10 Tie crratun
OF any more banks and when The Planters bank
was established published pamphlet against it !
over my nWn signature, under date Of the 5ln JAY,
1881, which W1i be Iuund published 10 the Ndicbtz
journal, from wiHch make the following extracts.
As regards National Blnkl declare against the
consolidating all uaoIung operations in one great |
Natona Bank, placed abpye the States, unflyalcd |
aud Uncontrolled, regulating he m0aed concerns of |
The WHO e community, and raising or depressing al (
us plea nre the value 81 properly throughoui the !
Unmn, : and ajd llat when such carasropbe
cnsues, our free institutions originating with tie
states. ana terminating WIN the surftndcr Of thclr |
sovereignty, I'll are dy have sunk INTO dt>ppSu.' |
Ia regard 10 STATE bduhs | utgc n lhat pamphlet |
The policy IT uyycr having more Than one bank ~ |
any ono ol lie States OF the Union aid lha ",oun-
lied on metallic bI>s, and advocate tHr nocessi-
~ Of Incorporating such provision 10 tie cousutu-
ton Of he several States, prohibiting the creliouul
more than une bank. On HAT subject State IL that /
pamphlet, one State Bank only N zach Of he |
states with auxiliary bmnchts, would alone pre-
vent the c,l OF dep related curcGcy, altsng lrum
NE multiplication oi tle Bank, OF Dc States; and !
IN arguing hs poicy ri creatuI but one jaak 0Htj, |
owned panty by lht STATE and u pat Uy uuRid. 4
ua, ask, "and Is ha Stalt SIN ped 81 the power
to guard TIL community against these crlsf Con 4
not create an institution So wet calculated to nam
tan me ngs and sovereignty vi lbc SrJtr, and Ia /
advance rs interests Was the legislature iUrUld- /
den to profit by the sad lessons Of experience IA I
other States and stand BY as passive spectators OF
tie results by mtcH HE slate llou year 10 yeat I
would be- CURSED with Unuutiab.e Biuls, dt pre- /
cated currency anu bankrupt people Such /
were Tie views urged upon tie people 81 Tins STATE
by me III l5%l--and by drieguulug these views, I
have We uul 10 tuH STATE b en- " cursed ruth uulH- !
mera5te banks, ddeprectGtea cutfescy, aHda bank /
rapt pt0pie. And lei mc ash, DOT uuiy nhal Nould /
ia 4 been the situation ut tins state but OF aH tne
states OF Tie JnIun, n lbls phicy had been uulttr-
gtIIN ttlntYt Ii,.eBI rH{ Hyyu1TtH ttILJ
winch GOV exist, all 0I which laed IN 1851, we
Should have had but fceHty-str State Banks, beng I
one a. each state only uduhs owned party by the I
STATE AMI lu pJrl BY ndnlduaI stochhoId,f rs, banks
all "iUuuied on neallc uass issuing no NOES /
under ttcehiij dglGrs aud bound by theit charters
TO promote the circulation q gold. We sHuud, /
win such system have had no suspension of cA- 4
pusOn, the currency would have been chiefly Of I
god ami silver aud TIC small amount OF paper ~ I
ordinations Nou,d have been OF par throughout the |
Union. Nor wouid We have begn irtatcned as W .
nuw are, with the attempt To animate state sofer
eigty, and consolidate al banking power "a one 4
RiUdt cehtrai Nuuhern bans, rtnue ed niVle power
lui than The states mhrH ceaied Il, ana auuufsta /
to supeIs,de lie Stale legislatures, Ia conti" AHA
regulate our domestic mStitaA0ns, aud govern the +
whole country.
Aud now, without presenting the above, or any I
other banking spsIvm 10 Tic consideration ol We /
pcupe ~ Mississippi, 40 aver tdt ~ WE iHu2' +
hate banks, they are les. dangerous upOH The Frh-
cipes atoye proposed, than any other wIimh ny /
knowledge
Ia addition 10 my .eer 10 Judge Back Mr. Prem.
tss eles u my speech 10 the Senate Of the 2slh Of /
January 1857. ar. preuslss has been deceived, /
no doubt b., the galbed extracts iruni thai speech /
contained ~ The wing organs Of Mississippi. lie /
eannol have read the whole speech or he could not /
have relied npou win view 10 convict me OHM /
consistency WHAT are The lwo great ohlectyol that /
sDeech They are first. direclly aud uuequw1caIly /
as declared N the speech, N RESISTANCE to NE /
power Of the Bauk olne United siates--n oppo- /
,tlon 10 tie rc-establslment oIany similar insldu'
tan !" 50 much as 70 the views expressed N hat /
soeerb ofa National Bank. Nov as iu The State /
Banks the SPEECH was favor u bill The main OBJ
.ct ~ winch was If DoSsible to render the STATE i