Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-10-19

placed i out Of the power Of the republican pat
u. h enforce the bard money laws Of 50 and
oct vas therefore compelled 10 act upon NE
state Of things which then EXISTED.
In 1916 the second Bank Of tho Iuied States
vas chartered. This was properly a republican
measure, and vas supported manly b. The mem
bers Of that party. But 10 lhis Il vas forced, by
circumstances which It had not the slightest agen-
cy IN creating, The government had been from
It's organization connected with banks, bad been
IA the constant practice Of receiving bank paper
n payment Of public duss,-hrst introduced as
before remarked, by Hamilton IN direct violation
Of existing siatutcs-hence gold and SILVER we're
nearly expelled from the country. The govern
ment was largely Indebted 10 the banks, Tor mo
ney borrowed during the war, the banks had all
suspended specie payments, their bills had great
| " deprecated, aud they we're IN several ways
/ reaplug a rich harvest gu, Of the people. Under
these circumstances two remedies for the evils OF
the tunes presented themselves; bankrupt law
and a National Bank The former beng cicarly
ard papably unconstitu ional. so far as banks are
concerned, was Of course cut Of the queriion--
the latter, though Objectionable, was Thought the
only alternative.
The course taken by The republican, members
IS used a. hard money or otherwise, that article
Of the Constitution requiring uniformity IA me
duties imports, aud excuses, ould be perfectly
nugaIory. II therefore, paper be received N
payment ol public dues, Congress had the mn
questionable right to regulate It's value, and make
1t uniform throughout the Union and this they
commended could not be done without National
Bank. The government was already receiving
paper, and had been from its organization; the
republican members IN consequence had no OPP
non, they were compelled 10 act upon the exist
ing state Of things.
The same motives governed Mr.. Calhoun, and
other republicans members, in 1884 when lhey
advocated a rechauer Of the Bank, for period Of
twelve years. The object IN extending tho char
ter Of the bank, was to break up by slow, aud
gradual process, all connexon between the gov
eminent and banks, they believed as before re-
marked, that the government had no right to re-
ceve paper at all. but as It was receiving " and
had been from It's organization, they had TO act
IN accordance with the state of things existing,
they therefore proposed to rechalcr the Bank Tor
twelve years. .. ..-
Mr.. Calhoun and others have been condemned
a. inconsistent, Tor advocating a rechater Ut me
Bank II 1884, when known to be cnnsIltulionally
opposed to such an institution. But what were
they do not vote at alll The issue was not
between separation of the government nom the
banks ard a Haiional bank but between nation
al bank chartered by Congress, and under Me
control of that body, and league oil State banks,
under The control Of the executive. What were
they 70 do under these circumstances! Select
what they considered the least Of evils, ard What
was their choice under the circumstances, CT re,
main IDLE They adopted the former course rs
they ought to have done Failing III this object,
which was their first choice under the circums,an-
ces, they proposed bill containing the same Sc
neral features, although differing IN The details,
from Mr.. Wnghrs bill of 37, Thus measure
likewise failed, the administration pieleing at The
, time the State Bank System. This system failed
IN the spring Of 81; the banks generally
throughout the Union suspended specie pay
mcnts. OF course the hard money statutes Of
SO and 90, were again in full operation. The
banks and government were separated by opera
ton OF law, and the States Right party then, tol
The first time since the foundation Of the govern
ment, had unramm,llsd the power, TO pursue L
course Of action ID accordance with its principles
, Some Of our members came out boldly for the
separaion~hey saw al once tina, It was in sfic
;. harmony with the principles which the republican
:, party had always nd, ocated and was ldenic0
: with y measure which the State Rights puly pur
posed and supported in 81,
This neasuo they saw was free from all con
q stiluonal objections, which could not be said o
:, the other measures proposed. They saw that
would greatly diminish executive patronage, 70
i proposed to cut off at one blow the entire baul
,r influence, II would likewise purity the currency
!, and render II more stable, prevent excessive Is
sues Of bank paper aud render the government
=, funds always easily obtained, when demanded b,
. the exigencles Of the county.
This then. Is the lrlc position Of hs StaL
q, R'ghls party; We have seen thai II could no
a have pursued different course without going II
a direct opposition 10 principles which Il had beer
- coutondps loS ior more than fifty years. Upon thu
rr question we meet again our old friends Of tn,
I. Democtafic party, from whom lor few Years ",
= had been .eparal,d. But portion Of our owl
I. pafly, DOT pefceIYia. he Clll beating Of all tn
i, questions iassised, and being prejudeed asains
"a PIE Democratic patty, for previous differences Q
:. oiih1an, separated irotn us md joined toe rank
=, # lbe WI - but The grea, body og our part
=, q ne older States Of tie Union ale with us, Az
M dnuhj not ba, that We shall in a shoit time, b
!. -nai'h-d aHh The cordial cooperation q our Of
nenl' 70 Mississippi
+, hope ne'il tbs union takes place. which
20 conhdsn'ially anticipate, that there viii be n
n. hafsaness Of language, no disrespect shown Il
M Nafds any Of our former friends, far present di
i, -tences Of opinion, In conclusion will melt
!, !, ,ay 'hal, hope every State Rights man, VII
N. anom now support The Wing party, from a d.
a, terence OF opinion upon important question:
ch will boldly take his position side by side with us
and maintain u, despite the opposition which b
a. Will assuredly meeI wph, II is better To fall in
ed good cause, than TO succeed ID bud one.
RI NCLLIFtCR,