Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-10-03

are mcl.cu'abIe. Is bankers are aclulted alone
by IN, desie Of gam, concert If acton among
them Is easily obtained. When they determine
on an expansion of the currency, the time has ar
ryed 10 take advantage Of the unsuspcclmG 10y
purchasing their property with bank notes OF lAriF
uhs baukefs manufacture, and when they swell
the bubble Of bank paper 10 The point where an
! explosion or contraction must take place, they sell
cut on a credit TO uusu~peeuug dIpes who caHno
see. uurl TOO late the deep lard p,tto cheat lhem
on, OF ,h,r honest earnings. THIS toe operation
Of The system uader the gatb OF honesty, but when
banks all into the hands Of men that are less
scruuous Of public opinion, the game assumes
more dung aspect. Such men, ~ rather mon
,trts, set At defiance the laws ol God aud man,
and commence with determination never 10 &C.
deem lhelr bank issues Those Who couirol such
institutions buy any kind If property 81 Whatever
price the vendor may ask. provided De- uErs p"
payment bank notes which they can r,ake at he
rate Of millions a day. BY Iesofitug 20 G'fy
species Of lalsehood, fraud aud deception they
maintain the credit OF their vle tTa.h uul'l they
become satisfied with lher Ill gotten plumber;
hou these institutions that we're conceived ~
fraud aud conducted, during their hutI existence,
through all the luI'uous wludiugs 81 vliIauy, ave
allowed to die natural DEATH The only couso-
Ianon the unfortunate note holder receives from
those TO whose premedlaiod yilauy be has fallen
victim, il smile OF derlsion or his unsuspec-
ing confidence in men whom be, a. well as The
community at large. had once supposed to he
honest The Brandon and many Kindred banks
! that might he named are glowing illustrations OF
this system, These institutions stand ionh at
once the end0ung monuments OF peoples folly
and Of the deep corruption N when lhe Nhut
banking system Is based. DO W. not see scat.
tered throughout the State the pculAess specua-
. tors Of Yesterday walovlug IN wealth and luxury,
? which, in fraud, they have wrung from the sweat
! bought earnings OF a conlding people and
while the unfortunate dupes are writing under
the unreIenlIng grasp of the law, these vampires
. that have deptyed them Of their substance look
, on with complaccncy, conscious that they are Sc
cure under the shield Of bank charters from The
operation Of laws which exacts tie utefnost
e hfthing' from the resi- of the community! Is
such thing ever heald Of as The property OF bank
= stockholders or directors beng made liable for
the millions OF worthless notes with which they
/ have flooded the country Can any thing be
more repuanant TO the principles OF justice than
5 system which screens from the legitimate effects
, Of aw The VILLAIN to whose cupldi,y hundreds have
] fallen victims Yet, for the success Of this sys-
! tenn, the modem Wings put forth energies wor-
+ thy OF better cause, and for opposing II they
$ denounce the democrats as agraIlans aud enemies
T. of commerce aud civilization
y What principle can be more at war with the
n theory Of our government than that which extends
5 special privileges to class OF men who have
rendered the State no service who ale not more
distinguished for virtue or leaning than the mass;
I whose only clam TO exemption rtm some oil the
a most salu,sty laws of the country, consists II
7 their having more ready money than their neigh.
c hors And as fortune has happened to suite
; upon them Their pecuuinty interests must be nd
Il yanccd BY the artificial means of bank charter
d which converts, by law, each real dollar they have
II INTO three while the poor mans dollar possesses
y that value only which HE God of nature has i'm.
b pressed upon il. The gross injustice Of tbI,
7, principle is IN the fact that it allows the non
producer. who can avail himself Of the privilege,
l. Of bank charters, three times the legal interest d
n the State o. "a per cent per anuum on the actu
T. al money lie Is possessed Of; while the tatmer
!. mechanic or other producer, who could not ayaj
., bimselt Of this bauk privilege, must rest satisfied
= with eight per cent lnclest, when they lend lheT
: bnid euumgs, having obtained their money b
the slow process OF industry and economy. llb,
e legislation the farmer could be enabled TO max,
lie ihrcr crops a year upon his land the mechanic t.
le sell three times as mary articles IN hi, line as Ia
ot is possessed oI,and the aborer 10 oban cighteel
0, days wages for each week. then the rest Of III
at community could be placed ON lh, same toodn,
IN with bankers. But the absudly Of such pro
nj position il not more obvious than the gross MUS
is tIce Of allowing such privileges to The drores
Of society--the bank nabubs OF the land.
n The banking principle is Numerically oppose
i. to repuhhcaul,m. The vital ptlnciple OF repuh
ps lie consists IN the powers OF the government Il
is naming in the hatds Of the people. Each grar
rs Of privileges or monopoly N the shape # ban
" charters in any Other form, takes from The pco
ut pie a certain potion Of their legislative powers
" ter, according to the theory o law, the p, Cpl ca
rs be declared Of these powers for evor, as It is OIL
ly necessary for banks to comply with the reqalS
* ton, Of their charters 10 continue the Exercise
T. their privileges 10 matter how injurious they ma
a. prove 10 the community Ii Is anu.repubca
vt for one generation 70 leglsd'e for another, who
" they undoubtedly do when they create bank cl al
w tcrs Tor twenty, forty, or sixty years, as Is oiie
he The case Ii the ptaclPle Is good for twenty q
I'd sixty years, II holds good forever. The Alanha
ut tan Bank OF New York furnishes an illustrate
to of this, as us charter has been declared pprpeu,
N, by tht legal tribunals otthat State. No Iegl.hlc
Of should do mote Than represent the wishes Of hi
Int constituents lor the time bring, leaving bis sue
is cossors IN office ample power to repeal. alter q
lis amend all laws which fad 10 answer the purpo,
es tor which they were intended. The principle ,
ISIS creating State bonds for po>ery to pay, is ider
or ucal with the creation OF bank charters which ar
he also binding ON unbora generations. We oily
nd Mr. JeticrSons opinion this subject il his le,e
r.; of oath OF June 1918 to John ". Eppes.
ge 1--WE may consider each generation as dis,jnc
lie, nation, with a right by the viii Of lis majority