The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-08-23

people and cram wing nOCHIhSo ~ Z. sAeI n
threats which the wings never thought o.
They represent the wings e. The fathers, id.
vocates and supporters Of tho present mode
of conducting banks in Mississippi and par
ticularly their issuance Of post notes. All
this is known to be palPable and wiliul mis-
representation, made and intended 70 de.
ceive the people and throw disrePute upon
the wing party, BY che direct sid Of ialSe-
hood.
The course of the wing party IN relation to
banks ever since the question was agitated,
ten years ago, has been one straight forward
uniform doctrine, without variableness or
shadow Of turning. They are in favor ofa
National Bank. They are in favor Of res
tricted, circumscribed state banking, whose
numbers and issues shall at al times be kept
safely and securely within the limits Of the
wants Of the people, Both Of which shall
at all times furnish the people with a sound
currency, at all times convertible into spe.
Gle, and none other, and opposed % all de-
probation and shinplastering. Well, what
facts does the late history Of currency pre-
sent in Mississippi! The government broke
up, ruined and demolished the system Of do
nestle exchange, by which, and by which
alone, the state was enabled to sustain her
foreign Indebtedness. The state and its
banks and people were unable to extinguish
this debt at once, and therefore the demand
for northern funds was so great that every
specie paying note was eagerly songAtsoT-
to convert into specie to remit. This cir
cumstance, as it increased daily presented
fearful alternative to the banks and people.
1t was very shortly seen that every bank in
the state was absolutely compelled to break,
wind up its affairs at great loss, quit OPe-
rations all together and cease to exist, or
adopt the issuance Of paper that would not
take the specie out of the country, and they
issued post notes, Gfler being REQUESTED TO
DO so BY VAN BUREN, LEGISLATURE.
Either course promised little else THAI des-
truction and immense disadvantage to the
people. But there was no alternative. Eli
Their course was as much opposed to wing
doctrine and principles as any other loco
focoism. But there tOGs no atteTnGtiVe! Amy
man to look fairly at the subject will see that
the government and the Mississippi lOcofo.
cos a6sOEutely COMPELLED the banks to issue
an uncomfortable currency, OF close doors
and wind up their business. What would
have been the consequence Of such course
to the people? 1t requires no argument to
show that the inevitable consequence would
have been that every man in the state in
debt, whether he owed much or little, would
be compelled to surrender his property in
payment, without any reference to its guam
tity or value, or the amount he owed. And
two years would scarcely have passed, until
those men who were entirely out Of debt at
the close of 1888, would be the only owners
of property in the state. No man would
have been able to pay debt, great or small,
in any other way than by surrender Of his
property.
To issue post notes, although an immense
evil, inficting daily great disadvantage Q
the people, and depriving them Of their sub.
stanne, and one which the wings Izve ever
repudiated, is unquestionably the lesser evil
of the two. 1t cripples commerce, agricul-
ture, labor and all kinds of business, bui il
does not quite kill them as the other course
would. 1t is an immense 81 inflicted up
on the country by locofocp m. But they
COMPELLED the ban pursue this course,
invited them BY gislativs action 10 ii, and
then abuse then 'or adopting it. The
wings have ever been opposed to such
course, and were opposed to bringing the
banks into such die na, but because they
prefer Gripping, az eny and sufering to
death, they are depq1 need too. With equal
Propriety it may said that the man who
is languishing upon 4 bed Of disease, is u
favOr Of sickness, because he does not kin
himselfto put an en- u IL.
The Van Buren, men made the banks-ih
vited them by legislative action Is ssue pos
notes compelled them % DO i orcease % s2
ist--advocated the measure UNIVERSALLY n
over the state, and then turnea upon then
with the most vehement abne Ior doing ri
Post notes is Van Buren, mes nrs. whole
ly, in all its features, and one ia which The
wings never participated. But bad N "a,
all men ofsense and candor prefer 4 Is fhSi
absolute and unconditional abolition 81 cur1
rency in the state, and the utter ana certain
ruin Of every man in the state who owed 4
debt much or little.
COuvENrr0r o. You've WHros-wsIs.r
from the aYicksburg Wing" and other AZ
/ 4