Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-03-31
CORPORATION ELECTION IN MO-
BILE.

We learn by gentleman just from Mobile,
that at the late election just held for Mayor and
Aldermen of the city, the Wing ticket prevail
ed throughout, except two Aldermen, who re-
sided in two strong holds of locofocoism. The
majority for the wings was about 100. At the
previous election, for the same officers, the To-
cofocos carried every thing, by majority of
300. whoa contemplate such results and
say that locofocoism is not drawing to a close.
We heard an intel igent business neiyhbor,
late of the Van Buren, school, undertake not
long since, to explain why Tennessee is worse
off IN reference to the exchanges than the
neighboring State Of Alabama. Why, said he
we have no sea board: Tennessee is emphat
ically an inland State, and the balance of trade,
is, in the natural order of things, against her.
On the Their hand, Alabama with worse man.
aged banks in some respects, suffers little in
convenience comparatively in effecting her
exchanges, particularly in the business sea-
SOM through the operations of the Mobile cot
ton Market. Her sea board affords a direct
outlet for her staple products and the means of
conserving her currency at the same time.
Admitting all this to be true, does It not fur
nish an additional argument in favor of a Ma
tional Bank How can Tennessee ever hope
to enjoy even a respectable currency, much
less one of uniform value, without the aid of
such an institution! Can the Bank of Ten
nessee, burthened as she is with the response
bil!ty ofrealizing eight per cent on her capital
be looked to by the people with the remotest
prospect of relief! Reason and every days
experience answer, No. Without National
Bank, our State is geographically cursed with
a bad currency, and though her condition might
possibly be ameliorated by the superior pru-
dence and hberaty of her banks 1t is worse
than folly to struggle against the fixed laws of
trade.-Nash. Wig.
Such, precisely, is the case with Mississip-
pi. She is as it were " land locked" on every
side; and Notwithstanding her annual exports
amount in ordinary times to Twenty-Five Mill
ions ofdollars, yet she is doomed eternaIy to
have deprecated currency without nation
al bank. No State in this union would be ben
fitted to a greater extent by one. The cotton
crops of our planters goes either to Mobile or
New Orleans, where il is sold for the bank pa
per of those places, or bartered for merchan-
disc, and serves them as so much gold upon
which to predicate exchange,-and in two
fold degree they are benefited by the opera
tion-frst. by commanding our products, and
secondly by sale of merchandise at the usual
profits, with all the benefits that may accrue
and they are many--in every other respect
Besides, Mississippi, maintains an immense
trade with every section of the United States
with the South for Groceries-with the
North for Dry Goods,--with the west and
North west for horses, flour, pork, bagging,
rope &c. land heretofore with the Carolinas
for Negroes, immense numbers of whom have
and will again be broght to the State 70. sale
land hence, in payment for many ofthese her
bank paper must be forced through unnatur;
channels TO an immense distance from home,
where it must be uncurrent because unknown
and depreciate-which would not occur was
a proper quantity of U. S. Bank paper floating
among us as il was once.