Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-09-28

and operating upon The fears OF h0ldcfs Of their
notes, and our citizens can purchase exchange on .
New York and Philadelphia ior The cost Of Trans .
porting specie TO those places, and insurance f.
which Is per cent as the banks themselves
prove by an actual transportation of the silver.
Such is the influence Of The United States Bank
upon exchanges. No rehecing man can iai 10
see that the Sub Treasury will be far more salu-
lay m lis operation IN this respect, because lst.
II will restrain the banks from that vicious tenden
cy to oyer.issues, aud therefore compel them 10
maintain specie payments at al times, which The
president Of the United States Bank declares is
the equalization Of the exchanges. 3D. II will.
TO limited extent. furnish drafts 10 the ltanfer Of
funds, which viii be used as bills, being drawn
against acual specie, and not the mere kites Of
banking. Who then should wish 10 violate the
constitution TO establish National Bank, which
does not restrain. bot stimulates the excesses Of
the local banks which exports specie, which IN
leheres with tho politics Of the country, which
produces commercial distress for political puIpo-
ses, which produces exorb'tanl imponalions, and
thereby creates a foreign demand for the precious
metals, and endangsrs the liberties Of the country
without af1ordng any practical benefits.
II he the duty Of the General Government, as
the federal party contend, TO furnish and regulate
a national currency, ought that immense power to
bo placed in tho hands Of an irresponsible board
Of bank directors in one Of the eastern cities
Is not such doctrine monsirous aud onll-TePub.
hcan IN the exlrtmel
Another cfTec, Of u National Bank is the drs-
hucllon Of Southern commerce by the means Of
The accumulation Oi capital and the concentration
of the national revenues IN the eastern cites, ei-
fected by National Bank. II has been shown
| from the statistics Of tho country, that Southern
commerce has always declined With the establish
men, of Tho United States Bank
The immense revenue Deposited with such an
institution amounts to a graiutous loan oil so
much money, TO DO distributed ou by the bank IL
.onns and facilities TO the business men Of these
CITIES.
While The cotton growing States produce near
" Two thirds Of The exports Of the whole Umon,
they import not onc.tenlh Of the products ex-
changed for hom. There is no reason in the ma
turo Of things Why other States should mouopo.
llse tho commerce growing out OF our staple a
rrcuiious trade, attended with re shipments, is al
ways more expensive Than direct lrude. Rents
are higher at the North thnn nj the South, an.
frpighis are higher from Europe TO New YotI
Than from Europe to tho Southern cities, TO say
nothing Of storage and tho expenses attending OF
coaslwise trade The South has been deprived
Of her trade by the system Of high tariffs, the mnn
ner Of collecting and dlsbursng the revenue, ont
by tho immense credits this system has given Il
Northern enterprise though tho agency of U. )
Bank. Southern commerce has been kept dow
. by these enormous federal tributes. All that tn
South asks u.s. no admInIsuan" IS - ! y
. ,.,, ~, ,a,.,,. - ns Tor ~. y, ne uovetn
80 faVt refuse equality with reference To he-
!. subjects. Itseeks no protection md bountles 70
4 itself. and should moi be compelled to courlbut
B them for others.
. DEFALCATIONs AND THE EXPENSE!
. OF THE GOVERNMENT.
Upon these topics the whg politicians have de
claimed with all their vented disregard OF fact
, and circumstances. They have compared tn
u aggregate expenses Of the last administration wi
Q It's predecessors, and pronounced II exlrayugan
. without any regard to the subjects OF eSpend
9 tutos. Gen. Jacksons administration is plt
= nounced extravaganza because tho sum total OF ~
Is pcndilure exceeds that Of the administration
" John q. Adams. They have not the candor
'e Tell the people lhat Gen. jackson purchased N
y monse territories Of the Indians, nov being file
.. up with white population. They have not Il
VI candor 10 tell tho people that General Jacksc
" moved tho Indian tribes west Of the Mlss'ss'pi
le thu. Indian wars have been incurred that letHt
T. rial governments have been established, 'hn' ial
10 Offices have been organized, hnl The ledefa' J
o dietary and the post routes and mail lacIl''i
no have been Increased and extended, that The am
30 and navy have been enlarged, that all these ~
m tors required an immense expense, and which
administration Of Mr.. Adams did not incur,
re- cause il had not the ability to effect these oblec
ia' The federal leaders and orators keep out OF VI
OF the utility Of all these achievements Of Gene
NE jackson, and test the merits Of his admnls'ra'
/, by comparing the sum total OF -h's expenses
me that Of his predecessors, who achieved nothing
nF' his county beyond keeping up the ordinary :
~ tine OF the administration,
} ~ No allowance is made TO Gen. jackson for
anu proyemenls, Cor the extension Of tho territory,
10 the growth Of empire, BY these federal accus
but a balance sheet oi expenses after the man
inc or grocer's clerk, Is struck between the adj
ahd is.rallon Of MIR. Adams and Gen. jackson,
'na' held up as an iniulhbe touchstono OF the tela
merits OF the two administrations sort OF
,hu' lilical arithmetic, which obtains only with v
!" aspirans. Even the indemnity Tor spollahon
rom our commerce by foreign nations, which went
cchy adjusted by pas. administrations, but the poyn
New Of which was securedb he perseverance OF
ow' Jackson, beiug found among the dsbursemt
n'a is Sc, down by tho federal orators as an IteI
va expense aud extravaganza, although il was
oulh received and paid out by tho Government TO
riga claimants The intelligence of the people is
y 70 iicent protection agalaSt such bareIaced mis-
. ressnlalion. Moreover, all the expenses {
~ planned of came from Congress in the shap
~ appropriations, aud have uniformly been vote,
~ by the wing party in Congress.
Aeh, The subject ofthe delaIcutons rs another I
a'eu upon which these federal orators have dwell
= 20 and loud, 1t has furnished political capital |
men, the small politicians Of that party. The