The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-09-13

How much bank stock Of Mississippi, is own.
ed IN the eta:ei And in Louisiana, where
A M. Walker is, Or lately was, large stock.
holder, lie being - citizen" Of that state,
rot one-tweniiefh par. Of the bark STOCK, is
individual property apart from the heavy
stare and cOrpofa'ion lOa which have been
made to b. pon.
Money j many paris Of Eur pc teiag
v orih bat tbiee.os ions per cent, hey loan
TO our states a .pora 10 =, ald receive
PG~f OF The profits, as TenuDermioa. In like
manner hank ioans an individual, and
receives, az pay for The use OF the money,
PGrt OF the profit which the borrower makes
by using it. No sef humbuggery can over
turn these plain and well known facts and
propositions. Eere banking discontinued
in the United States, according TO Senator
Walkers sef sophistry, we should have i'm
mediately TO return 10 Europe hundreds Of
millions Of dollars, which they have loaned
to tits country to bank upon, because we
could not use II 10 sufficient profit to make
it safe and judicious for US 10 continue the
loans.
The Northern location" contemplated for
National Lank is another bug-a-boo in the
eyes of Senator Walker. Tits too, s hum.
buggery made to deceive. Who in Missis.
siPpi wishes to own part of its stock or
share in it's dividendsl The south and west
has more profitable use for its money. We
want somebody, whoever has the money TO
invest, o. will borrow it, to establish Ma.
ional Lank. For what Why that we may
have easy exchanges and sound currency.
ut again. The south and west being in
debt to the north, and wishing for many
years yet to CONF to use a large portion of
the capital Of our northern neighbors, be-
cause we can use it to greater profit than
they can, desire that the National ank
should be located at the north. The esta-
bIishment Of branches then, in the southern
and western states will have the eff, CT Of
ioing what is precisely equivalent to paying
lie north as much as the circulation which
she throws out in those places, or of making
md sustaining new loan ofthat amount.
Mr.. Walker tells many abstract truths in
relation to the post note system. Lut the
story is ours, and the odium it exposes be-
longs to the Van Luren party, because the
system, both state and national is their legi-
Innate progeny. They FIRST adopted the
issue of twenty millions of treasury post
notes. They recommended 1t personally,
and officially in the Legislature, in our own
state, and there compelled the banks to adopt
it. We are the sufferers aud it is ours to
complain, in this matter.
Mr.. Walker urges as evidence against the
utility Ofhhe system Of Thanking, that in Lou
i.iana and this state, Commission Merchants
and Lank Directors have shared an undue
proportion Of bank loans. Whether this is
or is not the case. it says nothing for or
against tie syafen Of Talking, or the utility
of a National ark There is some co ls-
derable truth in his com plant, but If we
could show that the evil is ony about one
four h OF what he wonld make il on: 10 be.
u. whatever the evil IS, let he cared. it
is v th The legislature d the legislature is
with the peose,
We believe now. that we have no iced
and breay, though W, thiHk pretty plainly,
exposed ever! importa t point or position
in this famous eight column humbug. We
tiatter ourselves that we have, TO the salts
faction Of all reasonable men. redeemed our
promise in the utset, to prove beyond the
power of reasonal argument to question, that
Mr.. Walker in this whole publication is gull
" of a SOifdu and PaLpa5le G'iemPtto deceive
he people, and that most of his argument
such as within himself or any Intelligent
man can believe,