The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1839-05-18
LOCO FoCOISM-UN1ON BANK
POST NOTES. &c.


evelling theories farther than even their a.
yrarian name-sakes Of New York. They
wage fierce and cxterminating warfare a.
gainst the interests of that large class of our
citizens whose industry and frugality have
secured to them permanent interest in the
soil, and are raising the war-shout Of the tat
tered loafer and pcnniless vagabond, against
all the property holders in the land. Their
organs, the Mississippian, the Vicksburg
Sentinel, the Free Trader and oil the les
ser stipendiary presses Of the government,
are struggling with might and main, to pros
trate the credit, cripple the energies, and
dry up tho resources of the state. They
are seeking to dscredit and cast odium upon
our Banking institutions, TO depreciate our
currency, and to throw the spoils of a ruined
and bankrupt state into the hands Of for
elgn spectators and greedy money chan
gers.
The efforts Of these hireiings have not
been fruitless. Considered as speaking the
sentiments of the State Government, and
heralding the purposes of our rulers, they
have an influence and authority abroad,
which their talents and personal character
could never secure to them. Their libels
upon the best men in the state-their en-
Filtered and unslecping hostility towards
our best institutions, and their croaking
prophesies of coming disaster, have an in
Auence abroad based exclusively upon their
supposed condition of intimacy with the de-
signs and purposes Of the locofoco admins
tration which is now sitting like nightmare
upon the prospects and hopes of the state.
! We have been led to make these remarks
by the uniform violence and rabid hate
which the McNutt newspaper editors evince
towards the Union Bank. and the other SOL
vent and useful Banking institutions Of the
state.
Far be it from us to say that the course
of these institutions has been free from cen
sure. We are free to confess that we con-
slider their course in many important points,
as being utterly unjustlfable upon general
principles But it is likewise due to truth
and candor, to say that the condition of our
state is such, that Banking upon strict and
rigid general financial rules is inadmissiblc
1t is the part of wisdom for the Banks, and
for the state government, too, to pursue a
course of policy adapted TO the present con-
dtion of the country, and to the immediate
wants of the people, SO far as this can be
done without permanent injury TO the coun
| try and to its future prospects. Multitude:
of our people who have bought property or
time, and paid three-fourths of the purchase
money, would find the whole amount of their
property insufficient to pay the remaining
fourth, if every thing was violently and sud
denly. reduced to specie standard, ant
brought to the Marshall's and Sheriff's ham
, mer.
: In this condition of things, our only hope
of immediate relief is based upon the judi
cious and prudent aid of the Banks. Thu
Union Bank, and other state institutions o
+ extensive resources, have it in their powe
: to prevent, in great measure, the sacrifc,
Y on the part of our embarrassed planters an
t merchants, of the fruit Of years of toll an
: self denial, to the rapacity Of foreign an
r domestic creditors.
These institutions have, thus far, pursue'
r the course which policy and duty dictate
] They have loaned to the extent of thei
/, means, to those who were in need, and VIII,
t could secure the Banks ultimate reimburse
ment. The Union Bank, as well as others
in order to do this more effectually, has an
ticipated her resources, and loaned large a
mounts Of Post Notes. No sane man doubt
that these notes will be promptly redecme,
at maturity, in specie. Yet these newspa
per organs are seeking by falsehood an,
fraud-by the base and lying spirit which
, they are paid for cl.erishing Ito depre
, ciate these post notes in the hands of holder
, land to throw upon the innocent and embar
!, raised, dead loss of from ten to twent,
? per cent.
. And what is all this for? Simply to con
tinue in the Gubernatorial chair that besoi
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