Lexington union. (Lexington, Miss.) 1838-18??, 1839-01-12

can do without IFS agency.
"A Tcrp for proteciion' is against the
spirit il not the letter Of the CONSTITUTIONS,
Il in my opinion,is opposed TO all the great
principles Of free trade, that constitute so
important part ofthe new and noble SCI
ence Of political economy; as It operated
III the United States under the name OF
the American system,'It was in truth u
system Of legalized robbery.
! am opposed toa National Bank, be-
cause | consider its consn.ntionnlity, al
least, doubtful in any shape; tut still more,
because / believe its establishment would
tend to perpctuate the heavy commercial
tribute which the staple States now pay to
a limited number Of Noihem Monol olist
forcrcdit based upon their own exports,
woald destroy forever lhr bright prospects
now daaniug upon US, of a direct trade,
and would, fear soon create a colossal
money power, which by the concentration
Of capital AM credit would possess the de.
Spolic control Of all branches of industry,
oppress the productive classes, and either
wage war with the Government, or what
is still worse would succeed ia corruWlng
ii, or ally itself to ii Tor corrupt purposes.
! am decidedly favorable to an unquali-
fed separation oflhe Government fiom tho
Banks, and TO the collection OF the FEEDER
al revenue IN the constitutional currency,
in other words the Independent or sub
Treasury Bills as introduced by Mr..
Wright, specie clause and all. |, is my
sincere conviction, that the connection Of
yhc treasury with the banks, would soon
corrupt both, separation entire and eter-
nal IS the more necessary, IN the present
condition OF the country, when slock.job-
bing and wild and visionary schemes or
creating capital, misleading the public
mind, ircm labor, industry aud sound en-
terprse, ihe real sources Of national wealth,
prevail TO such an alarming cxten,,l sec 10
other meansoi ellectua!ly checking The des-
oIating effects, which must result from III
digested banking schemes al times pamper.
ed and stimulated, aud then again depleted
to eXauslIon.
The receipt and expenditure Of the pub.
lie monies, without permitting them 10. be
mingled with the Banking capital Of private
corporations, would in my opinion
Keep up IA moderate and healthy demand
for specie, and thns operateas a sure check
to excessive Issues paper currency, linn
lung them to an amount always converti-
Die.
IL would, by throwing the influence of
The money power in opposition TO an IN
crease OF revenue, tend to check eXtrav.
igant expenditures and useless appropria-
ions, and thus reduce the revenue and
expenses Of tie Government TO an eco
lo,nical standard, enforce reform, and le-
move all temptation to dishonesty. Nor
iaye ! a DOUBT notwithstanding the sense
ess clamor Of some Of the opponents oflhis
measure, that III lis operation, instead of
Increasing, it would diminish executive
'aironag', in precisely the same ratio, that
he influence of money, the use Of which
or private purposes, is forbidden under
severe penalties, is less, than il permitted
o be made the LASTS OF bank credits, dis
,ount loans and issues. The custody at
million Ct dollars; loeked'up in an IRON
hest, certainly coniers less power than
he control of the same amount used freely
IS the basis Of banking operations, which,
is supposed nay be safely extended to
hrec times the amount Of the capital.
In every point Of view, in which have
,ecn enabled 10 examine this subject, am
ed to the conclusion, that the country
would be beneiilled, and even the sound
,anks, disposed to be content with mode
ate profits, would he rendered more lnde-
PENDENT by the proposed divorce. ! am at
, loss 10 perceive how genuine State
Rights mar, unprecedented and impartial,
AN oppose measures 50 evidently tending
o promote his principles.
Differing entirely and radically from
Jlessrs. Clay, Harrison and Webster, in
svery essential political tenet, certainly
shall not support either Of them for the
Believing that the elevation
Of either Of these candidates would result
in the establishment of the most dangerous
shall as citizen, do all can
TO prevent it. | consider the Nationals,
great part Of the whig party,
as federalists of the old school, with whom
| have no elementary principles in com.
mon. ! shall cooperate freely and boldly
with all genuine republicans, he they
Democrats or nulliiers in asserting the
principles to which ] have alluded.
1t is matter OF sincere regret to me to
perceive many State Rights men, whom
| know to be sound aud orthodox in the