Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-06-04
29oIttlraL.

From the Madison Wing Advocate.
BANKS AND THE VAN buren, PARTY.
Nothing has been more common than for
the Van Buren, party TO oenoucne the
Wings as Rag Barons, aristocrats, mono
polists and scotfers at the rights and in
terests of the people. Nothing was more
undeserved than such charges, and the
lash could not have been better applied if
they had laid tupon their own shoulders,
instead of the Wings. There is not a sim
gle State in the [ Mon, whose banking
capital has not been increased within the
last six years, and in none more, we be-
leve, than Mississippi, where, until the
last year, the democratic party have held
the reigns of power and guided the car of
Government and this same party that
have such holy horror Of banks and
banking, have used their power to build
up bank upon bank, in our State, until our
paper circulation is as different in value,
as Joseph's garment was of various col
ors. Mississippi never would have been
so cursed with bad banks had the party
really acted up to the principles they pre-
tended to advocate. But they professed
one thing and done another, their cry was
down with Rag Barons, the Aristocrats,
and Bankites, and at the same time a
charter was being granted, that some few
of their democratic friends might get pos.
session of it and flood the country with
lrredeemable paper. The banks IN this
State, that the people have been most IN
iured by, are those conducted by the MEM
bers of this same Rag Baron, aristocrat-
ic, bank hating party.
There is scarcely a bank in the State.
that has been under the management of
some of the members of this party, whose
paper is now worth half the amount if
calls for. That great monster of cor
ruption, the Brandon Bank, had and has
a member of the bank hating party at its
head, ard into which, on account of the
democracy of its friends, the deposites
would have been placed, but for want of
financial ability of its, President, who per-
mitted. some of the notes of the bank to
reach Philadelphia and New York, be-
fore he had prepared funds to meet them
with on their arrival. That bank, the
q Madison County Bank" and the sMadi
sonrille and Pearl Rircr Turnpike Co.
have been the bane of the people in mid
die Mississippi, while not a few banks OF
the same character, have sprung into ex-
istence in the northern part of the State.
These two last Institutions sprung up
amidst the pressure Of the times, with the
ostensible object of supplying measurably
the wants of the people, and furnishing
the county with change. They had nj
/ capital, but that made no difference, for in
this age, every man has become well vers
ed in the science of fnanclering. anc
there are. few but what think they can es
tabIish a bank without capital, and &c
connplish every thing else without capital
this was the case with these institutions.
The Bank of Madison County, wa:
managed with some little caution at frs
SO as to give its paper some credit; IT.
small bills circulated about home, and IT
i large ones sent to distance, TO be distrl
i buted. Just so soon as it had establish
ed credit sufficient TO permit its notes t
circulate, it broke, and thus ended th
bank of Madison County" at Madison
B vile. The jacksonville ana Peal
River Turnpike Co." followed prett
much the same policy, the small bills {
the bank were circulated at home, III
bank kept its gold and and silver in ope
view, to inspire confidence and give
credit But the game they played Wa
5 soon discoyered-the managers of II
bank had despatched their agents wi
saddle bags full of the notes of that hanl
! of the denomination of los, pos, an