Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-10-22

try would be involved in one universal bank.
ruptcy, and near the grave of the nations
prosperity would perhaps repose the scat
tered fragments ofthose great and glorious
institutions which give happiness TO millions
here, and hopes to millions more of disenth.
ralmeni from despotlc power"
Now Mr.. Benton never went as far in
his life in favor Of on exclusive metallic
currency, as the honorable Senator has
I gone IN his recent letter of June. The Hon.
Senator's eloquent denunciations, are there.
fore more applicable to himself than they
we're TO Mr.. Benton. Like chickens, they
have, in the words of the old proverb, come
to roost.
The Hon. Senator suggests that I must
have been deceived by CARRIED extracts
from his speech in 81 The above extract
| believe to be correct, if it be not, | will
cheertully acknowledge my mistake. 1t is
not garbled, because 1t fully expresses the
| gentleman's sentiments in relation to an
''exclusive gold and silver currency" and
for this purpose alonei it is used. He was
then opposed to the scheme, not only as an
| immediate, but as an ultimate onc--for Mr..
Benton never proposed to carry it into i'm.
mediate effect, and the Senator's opposition
was 10 its ultimate adoption; now he is
himself in favor ofimposing upon the coun-
try at some future period, this very scheme.
One word more, and have done with
the Hon. gentleman's consistency. While
ne is gathering reflected lustre from his
boosted SUI port of Gen. Jackson-does the
Hon. Senator not recolect, that after the
removal ofthe deposites, he openly express
ed his regret that he had ever sustained
General Jackson, and that too, in the most
energetic and indignant language? II his
memory should fail as to this point. | stand
prepared at any moment TO refresh it
The Hon. Senator has made many refer.
ences to his opinions expressed on various
occasions against banks. Very well-this
does not initiate against the fact that he has
expressed the opposite opinions; il only
furnishes the proof Of his inconsistency
The Hon. Senator may have always re-
Jo'ccd in the name of democrat, but that
he has always sustained the same set of
political opinions is much doubted by
many people; bottle may retain the same
label, and yet its contents be frequently
changed.
The Hon. Senator having "vindcated"
himselr, CALAMITY attacks me, and turns the
defensive into an offensive war. This is all
fair ard right am glad TO meet the gen.
tleman, and will proceed to examine what
damage he has done.
/ First, the Hon. Senator, triumphantlv
charges me with having voted for the Bran.
don Bank. did vote for that institution,
and SO did the largest portion of the Sena-
tors own party;-the very persons who,
at the same time elevated him to his pre-
sent station. No political opposition was
made 10 il from any quarter. The citizens
of east Mississippi, asked of US the charter
OF bank 10 enable them 10 construct a rail-
road to Mobile,-all the banking and rail.
road charters in the State existed at that
time west of Pearl river-I for one thought
that our fellow-citizens in the east, had a
right to the same facilities for the construc.
ton ola railroad which had been previously
granted to the citizens ofthe west. Unfor.
tunately the Brandon Bank has not accom-
pllshed the objects of lis creation, nor full.
filled the expectations of the citizens of that
quarter of the State. do not hold myself
responsible for its bad management; per-
formed what thought an act of justice to
our eastern brethren; and have not the
slightest doubt, that the Hon. Senator would,
under the same circumstances have acted
precisely as did let him clear the skirts
of those who made him Senator before he
denounces his. opponents. When the Bran.
!, don Bank dies, the Hon. Senator's own
party will inherit as next of kin.
/ AS TO the other banks created at the
same session, they were called for to supply,
according to the then democratic doctrine,
the place ofthe United States Bank. To
create and use State banks in lieu of the
National one, was at that time part of the
true democratic faith. Though did not
then, nor never have believed in the capa.
city of the state bank system by itself, to
supply and govern general currency
yet was willing the experiment should
have fair chance-and voted, in coniunc.
with my democratic colleague, A. G. Nc.
Mutt, for number of banks which have
undoubtedly failed in accomplishing the
objects of their creation. A large portion,
4 however, of the banks in the State have
been chartered since was ia the legisla-
lure. The present Governor of the stale,
the Hon. Senator's alteregs in democracy,
sustained and voted for the system through.
out. III had doubted before, should now
be satisfied Of the incapacity of the state
bank system.
/ am in favor Of the winding up Of most
ofthe Banks now in existence in this state,
| and return to the good old plan recon-
mended by the Hon. Senator in 1884, to
wit g the creating by Congress of a
bank TO supply general currency," and
place this before the people in opposition
TO the Hon. Senator's present improved
model Of "bank, /" 'sstriped of every
feature of bank" and incapable of sup
plying or governing the general currency.
| The Hon. Senator next arrays against
me the following extract of a speech
delivered by me at this place in October,
1888.
looked upon the credit system as it
has operated III this country thrugh the
medium Of BANKING INSTITUTIONS, as the
most efficient of all the causes which have
developed the resources and increased the
wealth of this Union in d manner uuex-
an,nlad in the history hf thu world -