Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1840-01-30


The cause Of the Union Bank deserves spe-
iii consideration. The dellcacy IN sol,cilng'
nd ne difficulty Of obtaining, approves secur-
=. ror = loan from any Of the other nume,- !
~, Ranks ofthc State, even for short pcfloou,
, mounted Il an exclusion Of the great mass :.
nlanters from those Institutions. Inc glea'
object &c he Union Bank was to acccln .,e
this class Of citizens with pecuniary c ,a. ,hen,
also, by rendering easily practicable 'S or he;r
TO obtain long loans on theR ecurlty ,,enn,s
own Real Estate. GovernoTMcNutt ap a.son
very disingenuously, 10 mqke the 'mpr we'd Nv
that none but ck-holders would be ser,,JI TX
this Institution. But many planters wou',I ,rrds
fer borrowing on the security OF their 80" -
without becoming Stockholders; and Their -.
MANY thousands of them whone can D. -,
Icommodaed with easy Bank loans exceP' =
some Institution similar to this Union BANK
The principle Of the Union Bank OF LOUIS
lana is the same as that Of ours, and y is con
sdered the best Bank in that StNe our w
ion Bank might be as safe and as useful as 'na',
lift had. like that. the protection ins'eau "
the opposition of the Government AS 70 ING
conduct of the present man gers OF our BANK
I suspend all opinion until shall see some
thing else on the subect'than the eTpdrte dlsc'o-
sures of the Governor If those managers
, have acted unworthIy, it would be the duty ana
no doubt the determination, Of the stockholders
TO remove them, BY electing others more com
, petent or faithful, in their stead. But Inc
Governor says that the institution, "even win
the most able and prudent MANAGEMENT can
never hereafter be made useful" Now inns
} be true. it is so because he has officially ana
- oAicously blasted its credit, and thereby be-
trayed the public trust.
know not how far the Governor may IN
Auence such Democratic members IN the Legs
S ture as were friendly to this Bank; but 'nl''.
! in extremely doubtful whether the united e'
forts of both parties there, will be sufficient 10
y sustain il against the effect Of his Message
u abroad. This blighting document will II Is
y feared, prove fan .insupsrab'e obstacle 10 any
/ further sale of the State Bonds. in either Eu
!, rope or America. however favorable the mon
s. oy market, there or he,e, hereafter may be-
/ come. From the mere adventurous clrcum
s stance Of his high station, the Governor can &c
Q more than any hundred men, public or priva,e
G 10 niure the credit oftle Bank or that OF the
$ State; andl he has uset his official influence
e in this case with birer zeal. To all ap
If pearance, therefore, tie main object OF inc
y Institution must fail.
2, As already suggeaed this object wa
the general accommodation oil the pan
J ting interest But he Governor Wills
J. Ehe insists that the i've millions OF capita
IS already obtained, bebng exclusively to I'M
T. State, advises that no more he added by mean
m ofthe sale oroher Rods. Then, if his view
:. prevail, the original design Of the institution
y will be subverted, anC we shall have pnr
IS Government Bank, witch, according to reput
70 lean sentiment, is tie most objectionable an
us dangerous ofal Banks. And here we have
a specimen oft6e boasNa democracy OF Cove
~ ~ nor McNutt.
~ The Goverrorlprskends tobe agreat trend
the people, Especially to the planters; but
lc- have now ssual proof to the contrary,in !,
ke efforts to exclude them from an Institution a
ue signed mainly for their benefit, II he or
pm anoooists should saw, that they still may Q
IT. tain loans from his intended Government Ban
led IN the security Of their Real Estate, it will
at sufficient 10 reply that the capital oil tnal "a
'ue will be two small, and the distance 10 II
'as great, for any thing like general accom e'
al ton. The members Of the Legislature OH
err members of the 1overnment, and iayorl'es
the the Bank conyeAient to Jackson, will mono
IN lize its advantages, whilst the great mass
mt, epeopIe els{There, will be precludedl from
ach particpa,iont, and thus deprived other rig
The Governor processes also to be great
al emy 10 monopolies, and to espouse the cause
his the many against the few, and OF the
ent, against the rich; but the reverse OF all tins
lies is shown bv the course he is taking IN rela'
'ere 10 the Union Bank.
'ich In some structures published in the Adyoc
ace previous to the late general election unoer
'ese signatuk of this piece, expressed an ap
Y Of henson that Governor McNutt would yet
re- appointthe applicants Tor stock IN the VI
teen Bank. The expression was as snceret Their
late, II proves to be Just now. Indeed, all n
les said in those structures relative TO Mr.. Men
[ for were equally sincere, and purely poltlcd
I toIOn a personal score, should have prete
for him 10 his competitor, had their public pc
been the same. But then believed, as
d on now convinced, that Mr.. McNutts views IL
hest laton to public interests are essentially wr'
the and that heis, politcally,a very dangerous
i the What do the Democratic friends oil the
Serts ion Bank now. think Of their favored Che
on What they will not be very ready to exp
t OK, Knowing his hostility to the Institution,
Or no might have saved it from his rude hant
ID of But thew could not sacrifice party amb
His in single instance, for a great public Of
ds in and their own individual good. They
suits; now no more control in the matter, and
ultto "6nd no place Of repentance"
com A CALM OBSERVE
ks in p. S. Since writing the above, | have
n his The proposed.course OF tho Wing membe
SUCH A. 7 o,!slot,,.a DO ,vall n q tho nronosed n