Lexington union. (Lexington, Miss.) 1838-18??, 1839-08-02

ne is known to have been favorable to the
Commercial Bank of No:chez and the
Union Bank; he made speech in favor
OF the BRANDON BANK, and his vote
stands conspicuously recorded in its favor !!
Before the bill was put upon its passage,
Gholson (democrat) moved to lay il on the
table; for this proposition, there were
thirteen votes, two Of them wings and
eleven democrats; against the proposition
there were forty-fve votes, among whom
spoke and voted Mr.. Prentiss of Warren,
as well as Adam L. Bngaman the present
Wing candidate Of Congress; and he also
supported every other charter passed that
session. Here are the two leading wings
OF the state found side by side in support
of the wing banks as far back as 1886.
The banks chartered that session, the
Brandon Bank, the Commercial Bank Of
Watcher, and the Lake Washington Bank,
were projected by wings, located in wbig
towns, and ever since managed and con-
Quoted by wing directory. Are they
) not whig banks?
II is true that, 1886, the subjects Of the
banks had not excited so much attention
and discussion; the projectors Of them
; were stealthily urging them through the
legislature, and their multiplication did
not excite much alarm; yet it is true that
what opposition they did incur, came al
most exclusively from The democratic
party, although the party lines were not
strictly drawn. Z.
Gov. M'Nutt was then in the senate,
ne and IL. A. Hargis only voted against
The charter Of the Commercial Bank Of
Natchez,both democrats. M'Nuu moved
to amend the charter requiring the bank
r 10 paya bonus Of one hundred thousand
,, dollars to the school fund, but this was re-
!, lected, M'Nutt, Hargis and Cooke only
(all democrats) voting for the amendment.
AT the same session was chartered the
Pontotoc and Aberdeen Railroad and
, Banking Company, against which voted
only two senators, Sharpe and Hargis,
both democrats. In the house, the ayes
and noes were not called on the bill, and
the vote is not therefore known. Several
other charters passed at this session, ap-
pear to have been adopted without a call
81 the ayes and noes, and it is not now
possible 10 state the relative votes Of the
two parties. M'Nutt in the senate, intro
duced resolutions for the purpose Of limit
ing the amount Of the banking capital, but
The resolutions were rejected by the whig
members. At the session OF January,
1897, there was no general legislation,
and therefore no banks were chartered.
/ At the May session Of 1887, stand was
made against the hanks in the Legislature,
and comparison of the votes will prove
lncontesiibly that the opposition to bank
charters came from democrats. The
wings assembled that session clamorous
for the multiplication OF banks, and the
increase of bank capital. They believed
that to make banks was to maze money,
and That sbipplasters were sovereign
remedy for all ills. Accordingly, The first
measure they introduced was the bill to
authorize the issuance OF this infamous
post note currency. The post-note meas
ure was recommended by Gov. Lynch Ohe
lwhig Governor) in his message TO the le-
gislature. lie went into an argument to
prove that these post-notes would net de-
|preciaie, but should be issued payable in
ID months, and would rlieye the country.
Gov. Lynch also issued his circular TO the
various presidents of the banks, inviting
Them lo'assembIe at Jackson at the meet
ing Of the legislature. They came accor- /
DINGHY; and the post-note law, and the
post-noie system, we're nshered into being
under wing auspices, and by a wing adj
ADMINISTRATION Of the State government.-
! Against this measure the democratic pres
SEES took decided stand. The policy was
discussed at length and opposed BY this
press In the House there were for the
bill 30 votes, IL democrats and Is wings;
against the bill were % votes, all Of whom
we're democrats except 3. Their names
arc Barnes, Bell, Buckner, Calield, Cher
Try, Coleman, Cunningham, DUR, Samuel
Ellis, Havis, Kyle, Lindsay, David Nc
Kinney, James Mckinney Monet, Nelson,
Roberts, Ramsey, Smith, Raglan, Thomasy
Allen Walker, Felix Fl. Walker, and
Warren See House journal, page lab.
In the Senate on the bill which finally pas.
sed there were nine votes in favor Of it,
five wings and four democrats, reconlng
Mr. Alsbury as democrat, and against
the bill there were 6 votes--Mr. PresmUnlf
lMcNutt) Messrs. Cooke, Cranberry,
Love, Pope and Toomer, all democrats.
Had the wings as generally voted against
this measure as the democrats It would
not have been adopted. A bill originated
IN the House IN favor Of the post notes,
moro Objectionable than the one which did
pass, for which every wing in the House
voted auairaf which fhara wera Is uoin.