Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1840-02-15
Letter TO the Editor.

Dear Sir: The time Of the Senate to-
day has been entirely occupied in com
mittee OF the whole on the bill to reform
the Banks, from the House Of RePrescn-
tatives Much discussion has been eli
cited on the occasion, but chiefly between
the democrats, the wings taking no part
in it. The bill from the House was
stricken out from the enacting clause,
and q substitute inserted. To this sub
slitute then, there were various amend
ments offered. At length an amendment
was offered by Mr.. Tucker of Lownds,
to refer the subject to the judiciary, and
to proceed against the banks by quo
,raydnto. This brought up the main
question, as TO whether the Legislature
had the right to repeal charters. Upon
this question a long discussion ensucd be-
tween the democrats; and at length the
vote was taken, and the amendment
adopted by ayes 10, noes 10, thus giving
US a majority Of two votes-tvo Sena-
tors being absent, one on each side. So
this is considered test vote, and that
the only constitutional remedy against
the banks is through the courts of JUS
tico. Four democrats voted for the
The leading loco focos are
very much enraged and chopfallen-
They were not prepared for such a result
and had oyer-rated their strength You
may expect to see the most bitter denun-
Citations against the wings and those de-
mocrats who have had independence to
exercise their own Judgment on this inn
portant question.
Some Of the democrats talked ofresign-
ing in the first moment of disappoint-
ment in their attempt to carry out the
ultra disorganizing and ruinous measures
Of their leaders. The attempt had been
so successful in the House, that they be-
gan 10 imagine the full contamination OF
their fondest hopes. If the Senate
should stay, (as think Ii III, the cur
rent of ;hese destructive M. ruino.s at
icmpts to ;I7ade the constitution. it will
deserve well Of the public gratitude in
all future time. Some of the provisions
of the bill, as it passed the House are OF
the most outrageous character YOU could
imagine. And it is only remarkable
that such bill could have passed any
Legislature in a free constitutional gov.
eminent.
Unless the democrats should determine
that no measure Of reform shall pass
since they cannot carry this destructive
one through, we me amend the bill so as
to effect as near as possible, the measure
of reform, which the State demands and
every true interest requires at our
hands. They have large majority and
on them will rest the responsibility oil
the proper remedial measures. Any
measure or suggestion coming from a
whig is regarded by them with suspicion
and generally voted down. Therefore
they are powerless. You viii see in the
democratic papers what a severe cast
CATION several of the democrats have
received for their want of pliability in
not falling into the true faith with impli.
cit submission. These gentlemen are tc
be read out of the church, and its male.
diciions denounced against them. Aliho'
we may do much good towards reforming
the abuses into which the banking svs-
TEN of this State has run. yet it must be
apparent TO every one on a moments re-
Fiction, that it will require time to effec-
tually correct the evil. The great evil has
occurred--the injury inflicted, and time,
and the influence of public opinion are
he most sovereign remedies which can
be srplied. Suppose now that we are in
this truly embarrassed condition. We
should apply harsh and extreme RENE
dies, would not distress and ruin without
parallel presaill Who tr.at IS The least
indebted would not feel the sca.hing IN
fuence of such policy. The subject OF
iegi slating the State our Of its embarras.
sed condition looks MUCH better in iheo-
ry than practice-it is much more easy