Piney Woods planter. (Liberty, Mi. [i.e. Miss.]) 1838-1840, 1839-09-14
From the Vickburg Sentinel.
A. G. McNUTT.

t A. G. McNUTT.
"hc Wings are now making q strong
effort, to impose upon the people and
to induce them to believe that Gov
ernor McNutt is mainly responsible for
the great increase of Banks in this
State, and was strenuous advocate Of
the post note policy. 1t is indeed
strange that after being denounced for
four years as a hard money man, he
should now be charged with being the
author of the banking system Of this
State. We will give history Of his
legislative career.
In the summer Of 1885, he became
candidate TO represent the counties
of Warren and Washington in the Sen
ate. Al that period the District con-
tanned less than three hundred demo-
cratic notes.-the wing vote was near
one thoasand-all the banks then in
existence we're under the control of
commission merchants, and money
could only be obtained on their acccp-
tances, and nj the average rate inclu-
ding interest, exchange and commits
sions, Of about twenty per cent. This
policy was destructive to the planter
and merchant, and eventually ruined
the banks. Under these circumstan-
,ecs Governor McNutt was willing to
aid in chartcring a property bank, to
be placed under the control of plan
tiers and managed for their beneit-he
however objected to pledging the faith
ofthe State Cor banking purposes, and
warned the country against the dan
gers Of a great multiplication of banks
in the State. He canvassed over the
whole district, and has principles were
well known, and in many respects diff
fered widely from those of the District.
On all occasions he ayowed the doc
trine that it was the duty Of men,
Der to represent truly his constituents
unless by so doing he would, in his
opinion, ''viola:e the Constitution, or
be gully Of an act Of moral turpi-
tude."
This has always been considered
sound democratic doctrine. The wings
however profess and act upon differ
cnt principles.
The Legislature had not metin 1884,
and in 1885 was broken up by the
wings of the Senate. because the Rep-I
resentatives from the Coctaw counties
had been admitted to take their seats
during those two years, the other
States of the Union had chartered ma
ny banks, and when our Legislature
ret in January, lS36-numcrous petit
tons were presented for bank char
tiers. The first bill introduced in theI
Senate was for the charter Of the Bran
don bank, It's passage was urged UNI
,derthe pretext that thecompany would
construct Rail Road from Jackson
to Mobile. When this bill was under
discussion Gov. McNutt took occasion
to point out the defects in the banking
system, and predicted the ruin which
would ensue from an undue expansion
of our circulation. He was sustained
in his opposition to that bill by only one
Senator.
II The next bill that came up was to
charter the Commercial Bank of Match
cz-this bill met with his most strenu-
GUS opposition--and again he was sus-
tanned by but single Senator. About
Chat period Judge Bodley, who had
been a candidate at the proceeding
elcctionand defeated, visited jackson
for the avowed purpose of attending
Court. He was then Director ofthe
Rail Road Bank Of this place, and du.
ring the residue ofthe session, he was
an active Lobby Member. lie repre-
sentcd that Governor McNutt's oppo.
'sition to the Missippi and Alabama
Rail Road Company met with the, de-
eided disapprobation Of his constitu-
|ents. and that he was expected to pur-
suea different course. The Judge
brocured bill to be introduced into
ih6 House for an increase of two mill
.o.,s of dollars of the capital oft'ie Rail
road Bank Of this city. He also drew
t||t bill Incorporating the Tombigby
R' Road and Banking Company, and
pfo ned by his untiring exertions the 4
sQ3bft Of the Lowndes delegation to
4 'easure. Hc.was for connecting
harg with Mobile and Clumbus. ,
Guvcf1or McNutt 6ndingit was impos-
siblc % defeat any bank bill in the (
Senate, ttied to mitigate and control a
systeml which he could not defeat. |
For thisPurpose he introduced series !