Columbus Democrat., 1840-10-03

do, 10000 each to persons
1895 456
do 400 900 each tn | person.
IS4l7 100
ioia, S5434,IlI.
Leaving ony 6ye hundred and tweniy-nInc thousand
nine hunn-ed and seyeniy-lour dollars twenly-siX
cents to be divided among the rest Of The communi-
y.
This was the manner IN which the great regula-
tor lent the money OF the peope. No matter what
kind of banks are created whether State or Nation
al, they always have been and always will be con
duced 80 as To benefit tie rich, and not the mass OF
society as bankers would wish us believe. The a
larmng tendency Of this system Of hank svoril'sm
towards concentrating the wealth Of the nation "a
lew hands should arrest the attention ot every re-
1ectng man Mr.. Walker estimates, in one OF hrs
speeches during the last session Congress the pop
ulalion OF the United States al seventeen Millions
and the aggregate wealth Of the nation at sixteen
thousand millions Of dollars. He further states that
Of the seventeen millions of population one hundred
thousand are bank 81 ckholderB and directors, anu
that they own properly To the amount oftwo humid
red millions of dollars! Is il mol alarming that the
one hundred and seventeenth part OF the population
consisting ol bank stockholders and directors should
own one eighth ofthe property of the nation! This
fact should sink deep into the mind OF every man.
in his letter ofthe 2sh tf May 1916 10 john Taylor
Of Carolina, 'rhat banking establishments are more
dangerous than standing armies
We have dwelt, fellow citizens, on this part at the
subject probably AT too great length. We eel how
ever that too much cannot he said in exposing the
roltoness OF our banking system, its demoralzng
tendency and its ruinous effects in the productive
industry oi the country Had we said ess' we would
not feel that we had discharged The duties thai have
/ - ia hp
coming Presidential election as between the produ-
GERS olihe counrry--the farmers, mechanics and la
bnrers the hand, while on the other are rang
| ed the bankers and their dependents backed by all
others who wish TO live by their wits and not by Ia
bor or industry That this is the true ssue We think
cannot be denied.
A NATIONAL BANK.
Panic pressure and terror were the weapons
with which ancient federalism fought when de-
fealed by Jefferson at the head OF the republican
party. These very weapons the modern wings
have girded on, aud are now fully armed and
EQUIPPED, determined TO carry the coming Presidential
election "peaceably Il they can orciby they must
Such s The language Of some of their popular lead
err.
The cry Of this party from one end ol The Union
10 the other--from Name 10 Louisiana and from
Florida 10 the Lakes, 10, "the country is rmned.
and this "ruin" they say has been brought about by
'he reckless policy orihe democratic ary IN put
ting down the late United States Bank" This Is
the great whig charge agains, the democratic party,
Let us first enquire whether this universal distress
, pervades the Union That the overtrading portion
{ of the commercial and the speculating classes
throughout the Union are involved in pecuniary en-
barrassment, we admit but we deny that tins SUI
ering extends to the agricultural, mechanical or Ia
boring classes, except when they live within The IN
} ilnente of towns where banks are located Ih's
the case even in bauk-ridden Mississippi. The dis
tress and ruin that we hear SO much OF from wing
orators is mostly confined 10 the river counties o'
where the mass Of the banks are located. In TN
south eastern division OF the State, where there arr
o no banks, pecuniary embarrassment is unknown
In The Courts Of central Mississippi there have bee
comparatively but lew suits brought; and IN a
north Mississippi we are informed by the very bes
+. authory that pecunpry distress To any great ex
II tent is confined to fire Counties and that in ever
h one Of these banks are located VI these hve, GU
i own County Lowndes) can boast OF more bank
Dl and more suits in her Courts than any OF the rest
and yet with the exception oI Columbus, there rs bl
}. little pecunary embarrassment IN the rest OF IN
e County, comprising more than threeourths 0l IN
q popua,ion II is in Mississippi as in every ohe
> State; all who engaged in reckless speculation ar
r. reaping the miserable fruits oltheir folly while lhos
=. who kept eir names out of banks aud lived with
Q their means nre as prosperous aud content as the
N ever were. Even the ~hig prints OF the eommercr
8 cities are conlfadctng the wing orators that al
,k traVersing the country shouting "uhlverSai T IN
We could give many extracts TO this effect but v
= will conhue ourselves 10 one from late number
"ihe journal Of Commerce. the leading organ OF Il
:! =, wings of Ntw-York:
I" "BusINEss. Old times seem TO be coming agal
We could shout Land hoP once more, but y
IN should not now vet the credit OF seeing much bett
IA than our neinhhors There is one thing about II
rs ii we get to land ncw we shall not drag to sea aga
M as we did last time. We have no United Stat
80 Bank 10 break from her moorings and carry I
ZEN whole feet south OF New-Yok pell nell 10 desIru
nd ton. We hold by the bottom now, and so fear u
" thing, The dry goods men find themselves dong
50, capital business, contrary 10 their expeditions, a
the we might almost say against their wills. But tn
BIT who think the country never can prosper under
unit Van BURN, regard the present prosperity as
the effect ofa great coming event which casts It's sha
ow before. On the contrary, they who think th'
aie can be no prosperity without the present Admin
ted traton attribute what they see TO the Sub-Ireasu
or. We attfibute il 10 higher and better Il
ha, either. The state of things now existing pro
red that revuSions however dreadful, are in our yot
om and vigorous country of short durauon II prov
q too, the good policy OF sound principles IN hHan
IA. Our adherence 10 specie payments, severely q
,rn tried our principles and our courage at the III
will in the end be seen TO have been as wise a
was morally good. Whitled IN the air, and crus
dH6 to tho EARTH as New York has been, she s on
feet again, Our importers are receiving large S
plies Of fresh goods the domestic manufacturers
pouring in their products and from all sources
lObhers have filed their stores, and are selling FIR
coops, CHEAP roR Cash." from morning 10 nigh
SAG Purchasers come with pockets full of money,
buy as hungry men eat. Our coashng vessels
flled rapidly with freight for all Southern paC
the low boats up the North river get full; the
ropeau steamers and packets are pressed 10
charge as rapidly as possible, Tor the goods ar
sold before they can be got from on shp-bos
the auc6uneers are hammerlng away, 'one,
three" and every thing is once more gong, golI
So much for the whig cry of universal dist
and rnin !"
~. -. ..-.-..,. - ,bo ,h;,,s C,r The nre