Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1839-08-03

forever from thc Iak-fA9 -
.rlpde 70 the following REMARKS = ? -
he made in his imPassseassl reply - go
ph,llins. The latter lad. IN TAG eo'i1ss
Of his remarks, said to the PsoPae '''',-
he was JefFersonIan rePuefieahs 49,
-, the same time, the advocate Of a va
,;oual Bank in preference % the soo-
Treasury scheme. Col Fulton s'asa
hardly contain himself, upon hearing
,ieclarations which, in his estlfnafis's's
involved an inconsistency 50 hefrao8y
,n,i-democratic- Such was his hety
horror that he ever forgot to dosf Ms
beaver when he arose 10 point out to sae
people this glarius inconsistency, ami ~
woke The shade of the great apostle et
liberty to hush into silence the Protss-
s;ons of such disciple as Col Philips
9T.What," said Col. FultOn- ~has
the Legislature of Mississippi TO do with
a National Bank If the Legislature
could make National Bank, | would
vote for it."Zr0
| Such was the language, which uiideF-
stood Col. Fulton to make use of on that
occasion. The Col. claims TO be Van
Buren, man; but how would the Presi-
dent. who considers a National Bank IN
expedient, if not unconstitutional, regard
such an admission from one of his pro-
fessed followers? Does the Col think
that it would be very bad policy Tor
Congress to charter a National or Una
ted States Bank; and, yet, il would be
wise and polite for the Legislature Of
Mississippi, if they had the posrer to
produce what is generally regarded BY
the Van Buren, party as horrld mon
ster, that would overturn the liberties OF
the country? If Col. Fulton was really
sincere in avowing his willingness 10
vote for National Bank, If the Legs
lature of this State could charter one, he
must of course believe that IL would be
good policy to establish such an instItu-
ton; and he ought, therefore, to make
some exertion to get the Federal Consti-
tuition so amended as to give to the Lee
gislature of Mississippi the erclHsire
power to charter National Banks.
If these are the views of Col. Fulton,
shall feel constrained to vote against
him. The Congress Of the United States
have incorporated three National Banks
since the declaration of our independ-
ence, not one of which ever proved in
solvent, or suspended specie payments.
Nor were the notes of either of them,
SO far as | know, ever deprecated to
from five to seventy five per cent. below
par; but, on the contrary, as George
McDuffie demonstrated in regard to the
last of them, in his report of 1880, they
actually furnished currency more uni
form than specie. Nor was there ever
mark it democrats general suspen-
sion of specie payments by the State
Banks during the existence of either of
these National Banks. If there was it
has escaped my knowledge.
But what has been the effect upon the
welfare of the community of the exer-
else of the bank-creating power by this
same Legislature of the State of Missis-
sippi? Not one, of all the batch of lit
tie monsters which it has been charter
ing for the last five years, can furnish
citizen of the State with note of its
own which will pay travelling expenses
out of the limits of the State without |
ruinous discount. | will not except even
the Union Bank, of which, believe Col. |
Fulton claims the paternity--the notes
of which are at heavy discount even |
IN this State
| asked what had been the effect of
Mississippi legislation in which Col. Full
ton has been prominent actor, in re-
gard to bank-making? Go ask the I'M
fortunate holders Of the notes of the
Brandon Bank, and of the other rotten
institutions spawned by our Legislature.
Yes, sir, go ask the honest laborer, who
has not been engaged in speculation, but.
been, as ne thought, laying up dollar by
dollar as he earned it, by the sweat of
his brow, in the hope of buying home
for his wife and children. 1t has denre-
ciated on his hands, while the poor man
was hard at work for his family, ipnor-
ant, and having no time to 60 every day
TO price current, or a brokers' shop TO
the value of what he thought
was the standard by which the values of I
property were measured. And when
ne proposes to buy home for his family
ne IS informed, poor man that what he
hought was dollar is in reality only
twenty-five cents..! What he thought I
vas one hundred Is, in truth, but twenty &
i've dollars!!l r
WhY. 10 the name of Doxaa...