The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1839-11-30

dinghy, he invited Mr.. John Walsh, Mr..
Henry Won Phnl, Nj. Edward Tracy, Mr..
VIM. Glasgow, and Mr.. Geo. Collier, to
this interview, anda conversation Of about
1.-TWO hours cns6ed. On the part Of the ciii-
zcns, these gentlemen proposed to Mr. !.
Smith, first, that tho collection paper fall
ling duo within the next 90 days, should be
paid to the Bank, or 10 any agent thereof,
in the same description Of funds heretofore
received at tho Bank.
Secondly, that the bHsiaess paper dis
counted by the Bank up 70 the present time,
should as Gar ne possible, be placedon the
footing of accommodation paper 1.-The cur
ta,linent, and discount being paid in specie,
|or the notes Of specie paying Banks
This morning, Messrs. Choteau and Col
| er again wnited upon Mr.. President Smith
and thus understood from him, that the prin
cipal, il not the only ground of objection to
The propositions, was the apprehension Of
loss which might ensue from the deprecn-
ton Of the notes Of the Illinois Bank, if re-
ceived in payment for the collection paper,
amounting to $27S, 900. Itbeing conceded
that this was the only objection to the meas
nre, Mr.. Collier at once proposed to MIR.
Smith 10 obviate it, by offering to furnish l2
citizens who would join in guaranteeing the
Bank against any loss which might happen,
| in the collection, from the depreciation Of
1.-The notes Of the State Bank of Illinois
This seemed to satisfy Mr.. Smith, and it
was hoped that these unpleasant. difficulties
would soon have an end. The Board oi
Directors was again convened; and in the
meal. time, Mr.. Collier met with MIR. L
Tracy, M. P. Chouteau. MIR. J. Walsh,
Mr.. WIN. Glasgow, Mr.. John Perry, Mr.
H. Won Phul, Mr.. John Kerr, MIR. G. X
McG unnegle, Mr. Joseph G. Laveille, and
Mr. Jno O'Fallon. who, with himself, read.
lily agreed to join in the indemnifying bond
to be given to the Bank 1t is here worthy
of remark, that not an individual was mel BY
MIR Collier, to whom The proposition 10 Join
in the indemnifying bond was made, who
did not, without the slightest hesitation, in.
stantly and readily agree to Join in sustain
ing it.
i Mr.. Collier and Mr.. Choufeau were in
attendance at the Bank, 10 make any expla
nations which were deemed necessary
None such, however, were asked; and ate,
an hour or two delay, MIR. President Smith
] appeared, and informed tbem-.That the
Bank conld do nothing in the matter y
The injunction of secrecy not having beer
, removed, nothing else of,he proceeding
can be known. Mr.. Collier, then informe,
Mr.. Smith, that this was the last effort at
compromise, on the part Of the people.
The facts of the case are now before th,
: citizens Of this city. They are now to de
/ termine, having done every thing which
| became them to do, whether they will lon
ger support Bank which manifests tn,
sternest determination to CRUSH THEN a
once; 10 take from them the hard earning
: Of many years, and to leave them in indi
vidual bankruptcy. We do not believe the,
: are ready for it, and we trust that they will
at cnce prepare themselves for the emerged
Icy which is at hand. Every thing has bcel
done which honor, patriotism and regar
for the welfare ofthe community demand
All that has been asked Of the Bank-al
that our citizens have insisted upon, is tina
time be allowed them to prepare for the new
state Of things which the Bank has introdu
} ced. To secure the Bank.against loss, b.
0u0OlA "a sstS sOooo0OsO 1g4uCbtY ~CulU
has been offered-security every way am
. lple, and many times greater than the ,rhol
capital of The Bank. Yet, to all this, TO tn
liberal and just solicitations of the commu
nifty. the Bank turns deaf ear, and reject
cuery proposition Of compromise But on
! alternative now remains. We must STAN
Tsp for orsclpes! We must stand Up 70
his insnlted and injured community !! =
We must stand up shoulder to shoulder, {
SUSTAIN c0ck othcr!!!
The most wealthy of our citizens, me
lwho have no hvors to ask Of the Bank, me-
lof undoubted ability, have come iorwar
with allherality and disinterestedness whic
cannot be too highly eulogized, to sllstai
, and support the credit Of the city; and hav
literally offered to interpose their privat
fortunes between the Bank and any posi-
bic loss she might sustain. Their propose
tions have been rejected, and the citizen
owe it to themselves to act out the principle
which we're avowed by the meeting Q
Thursday last. That they will do so, "
have the most abiding confidence.