Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-09-05

1T --..-<s-=.-=.
TEN, instead of honestly acknok ledglng their
error, and returning with US td,,hat excellent
path, from whence in an evil hoAr they stray
ed, with their characteristic mod;sty deny that
they ever advocated the system, and not only
repudiate their own paternity, bat boldly lay
Their i. illegi'i%9te offspring at The door Of the
Wings.
In other countries ministers arc responsible
for measures, and upon their success depends
the stability of til administrator. Here, it
seems those Out Of power are held anenab'e for
the malpractices and failures o. those who
WELD it; and we are charged not only wit their
unwse acts, but with their worG- out nd dis
carded opinions. At all events, both parties
acknowledge the inelfciency OF the pis@sT. svs-
ten, and the neeesss; rsff -'ian,U Il 'Te
| ty in power, clearly indicates It's intention to
wage war Of determination against lis old al
lies the state banks and aims at the establish
ment upon their ruins of the sub-treasury sys-
tenn In our own state this is openly avowed.
Taking advantage Of the well founded ndigna.
ton of the people against the miserable system,
which they themselves fosered INTO existence
and which is now pressing like an incubus up
on the state, the friends Of the administration
have long since commenced fierce crusade
against all sorts of banking, state or national.
All bank paper currency is repudated by them,
and banks no matter how honestly conducted,
denounced in the most unmeasured terms, not
only as anti-repubIican, but also, in the Ian
guage Of one OF their distinguished leaders, as
aiming "a fatal blow at private morality and
at public virtue, and as a consequence, destruc.
tive of all pure and sincere religion"
On the other hand the wings are DESTROYS Of
reforming not of destroying the paper money
system. They believe the plan OF an exclusive
gold and silver currency, not only absurd, but
in this country impractIcabe. They advocate
mixed currency of coin, and bank paper con-
vertible into coin at the will of the HOLDER
They believe the present state bank system in
capable OF producing such result; but in con-
junction with United States Bank, they know
its entire competency for the purpose.
The wnigs are therefore in favor OF estab-
lished a National Bank, independent of execu-
tive influence, but under strict accountability
to the representatives Of the people. They
are in favor Of such an institution, simply be-
cause they see no other mode of attaining their
object, which is q sound and uniform currency
II HC SuO-llCdSuIy oCHCIuC hulSH 10 oCb UP az
the Antagonist of U. S. Bank, does not even
propose to produce such result, but nodestly
assumes its sole function 20 be, the collection
and disbursement OF the public revenues. II
this be the extent of the measure, its adoption
by no means dispenses with the necessity OF a
National Bank, Tor the collection and dsburSe-
ment of the revenues, would constitute but a
small portion of the functions Of such an nsti-
tuition If on the other hand, it is intended, as
it doubtless is, that the sub-treasury, shall fur
nish paper currency, in the shape Of its drafts
and checks, then it will constitute, to all in:entS
and purposes Government Bank under the
control Of the executive; what the wings of al
things, most fear and abhor.
am therefore opposed TO the sub.treasury
scheme, not only on account of It's intrinsic and
essential defects as financial system, but also
becausei it proposes in its selfish policy, to pro-
iect the government and not the people, and
processes to confne its benefits entirely TO the
former.
| believe the people Of the United States re-
qure and are entitled from some source, to a
good, sound and convenient currency | do
not believe gold and silver alone can furnish IT.
do believe the object can be accomplished by
the charter Of National Bank, and that Con-
gress has the constitutional power to grant
such charter. Sooner or later the people
will compel them TO do it. The present system
of things cannot be submitted to much longer.
Trades against banks and credit, may for
moment tickle the ear, but they afford no relief
10 the sufferings Of an outraged and betrayed
community. The people have been waitngI
long enough for relief from the measures of
the dominant party. They are now looking
in another quarter. They demand some bet
ter argument against National Bank than
the pious approximations Of the advocates THE
sub-treasury and a better model for the con-
duct of their affairs, than the Island Of Cuba,
that colonial vassal, Of the worst governed ma
ton on EARTH
1t is in vain to talk, even if the thing were
desirable, Of Graduating all the State banks; III
could be effected only by surrender, on the
part of all the states, Of the power 10 charter
such institutions. To suppose this surrender
will be made, is absurd Even should it, the
present generation could not attain the propo-
sed object. The larger portion OF the banks
now in existence in the United States are pro-
tected by the sanctity OF contract and shielded
by the strong arm OF the constitution. ma
iority Of them cannot be got rid oil without
their own consent, unless the people see tit to-
follow the advice of certain desperate and mis-
cradle partizans of the administration, and
suppess them by physical force.
| do not apprehend that my countrymen will
follow such wicked counsel. take IL then for
granted that, in some shape or other, the ban
king system will continue to exist, at least du-
ring our generation. This being the case, the
refHssl to establish n National Bank will not