Lexington union. (Lexington, Miss.) 1838-18??, 1840-07-25
THE TRUE ISSUE.

II becomes the American people, and
more especially the people Of the South, TO
look well to the points OF difference, winch
COW aeitate the two great political parties
Of our country. Amidst the sudden and
stunning burst of Tin trumpei', and Kettle
drums, with which the Wings have opened
the campaign, it is no wonder that many
Democrats, tried and true, should start
with surprise at this unusual flourish
Amidst the insane reloicings and bachan'
madam orgies, with which the Wing can
didate for the Presidency has been usher
ed 10 the notice of the country, il would
not be surprising, il the attention OF many
people should be drawn from the true
questions, which the next election is to
decide.
Think you that the MONEY poiper has
ceased TO exist in the United States, be-
cause of the vain glorious boastings with
which the Wing press seem determined
10 drown reason and common sense!
Think you that the cunning money chan
gers Of the North have ceased TO dream
over the re establishment OF u. 5. Bank,
TO control the commerce and trade of the
SOUTH
Deceive not yourselves with such vain
hopes. The old pretorian band, which
fought the battles of the Bank during the
war Of the people against the money pow
er is re organized, equipped again at the
expense OF the credit system, and once
more is to commence crusade against
the liberties Of the people.
There can DO no mistake the signs
are too apparent 10 admit Of wrong con-
clnsion. The arguments are constantly
in the mouths of The Wings, in those por-
tons Of the Union, where U. S. Bank
is layorite measure, which were so often
refuted, and that refutaiion sanctioned by
the people, in President Jackson's time.
Now as in times past, the worn out story
s! "regulating the currency" and "regula-
ling exchanges" by National Bank is
rehearscd to decoy those who feel the pres
sure Of the deranged condition Of things
brought about by the U. S. Bank itself
While the most obvious conclusions Of
reason and the whole history of the Bank
contradict the assertion, with logged
pertinacity, which no circumstances can
overcome, the Wings still push forward
these exploded doctrines.
Yet we will not fall into The error Of
our Wing opponents, and assert PROPOSE
lions without proof We place ourselye.
upon the historical facts, the confession.
and the admissions, as well as the reason
ings Of the Bank itself to show that III,
u. S. Bank never has been and never ca,
be regulator Of the currency or erchang
cs. or even Of itself.
LIST. Asto regulating The currency :
Mark, now, what the Bank itself said /
its memorial 70 Congress, in 1921.
"From the middle Of December 10 The m;adl
nf March or April, the notes of the United 81 \,
Bank and the Northern Offices will be Oener..il
be nj discount in the South. And there ~;
Re many other instances oftheir being undar ~.
nominal value. They are, however slvavs IN
a commodity when they are not pnyabic. :.
their picn will depend on the quantity n max
and the demand for them; the demard for thc
viii depend on the amount Of revenue payable
t,e place where they are held compared ~
the quantity ~ the market They win serve
rurD0fc of general currency against thc cure
cFexehange: nor will they ever, under such u
cunsiancess serve the purpose ofa currcncy. N
correct sense, whe's they are not payable. TN
Y viii be az par, bear n premium, or be below "a
according 10 circumstances. Even on The IN
where they aro issued they will frequently Ne
I, pFenlpin, unless they are freely issued.
Ohio, for example, they are said to hayo co,
minded hlly per cent. premium Tho CURE
money Of the STATE. But The cyeru;irg difculi
will he that lhe bank, IN It's own defence, will u
i.suo "a notes where they ave 10 he used as
..,ha,;smte fnr excnnnge; and Il Is only when IN
can Ne thns advanlageousiy used that they a
.ncposed "a serve lhe purpose Of general g,
Ts.1 ah6fs fxlraft 6afpisle.l kY Tho hank