Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-12-12
(Frem the philadelphia LedPer.)

however high the hopes INSPIRED by the cleo.
ton ol Genara Harrison, we will venture TO pro.
nounce them dsIusvc, and to predict very serlou.
dIsaPpoIntments to those who entertain them II
we should be charged with presenting partisan
views OF the case, our reply is, that the contest
beng ended, we can have no interest in present
ing any views beyond that which every citizen
ought TO iee IN the prosperity of his country: and
that we shall be judged candidly by all who are
no. prevented, by rabid partisan preludlces or d
rect pecuniary interest, from understanding plain
trulh-Firsl, then, we say that a National bank
cannot DO established ; secondly, that the :" Ia.
dependent Treasury Act" cannot be repealed
hlrdly, that the momentary expansion and spec
ualIon which the hopes of such measures will
produce, immediately after Gen. Harrson's cleo.
ton, will be followed by contraction or revolution
TO the ruin OF rash, inconslderate ignorant mer.
chants, and the total prostralon Of specuaiofs.-
we offer these conjeclures,i founded upon present
appearances. II they are verified, we shall have
spoken prophecy; II not, we snaII nave Lseo
mistaken, like millions before u.s.
FIRST, then, National Bank cannot be crca
ted. The Southern States have generally opposed
such an institution upon constitutional groundan
have aided in destroying two. Besides this OBJ.
Jecl'on, they urge that national banks, by con-
cenralng capital and business at the North, pro-
mote lts prosperity at the expense of the South
This was Mr. Calhoun's objection in 1888, and
10 his mnd and those Of his Southern parllsans,
has probably lost none Of lis force. New York
has combined with the South to destroy Two Ma
onal Banks, because they were located in Penn.
syvanla, the object of New York being mo.
nopoly OF such institution. Reasoning from the
past, we say that New York will support no Ma.
tion'l Bank, unless il be located in all street,"
Tor we cannot suppose that after such exertions 10
destroy National Banks, because they we're ere.
a'ed III other States, New York will support an
other without the monopoly. This would be
throwing away the exertlons OF the past. Through
tbs combination Of the South with New York,
Pennsylvania has los, two National Banks and
when Pennsylvanans consider the motives of N.
York to their destruction, we cannot believe that
lhey VIII support another, to be located in the
latter. The contest about national banks always
has been, and always will be, contest between
Wall street and Chestnut street," and as Meth.
CT will yield the monopoly, New York and Penn.
sylvanla cannot agree about National Bank,an
either, united with the South will constitute
decisive opposition.
Secondly the Independent Treasury act''
cannot be repealed The only substitute which
It's opponents will offer at first, is a National
Bank. That measure being defeated as we
have already proved their next substitute will be
State banks, as fiscal agents" or the Federal
Government. But the people will remember
that this experiment has been tried twice, and has
utterly failed, producing the most deporabe mis-
chiefs; and We cannot believe tina, they will for.
get the experience Of the past, and submit to
third trIsl Hence this project is out OF the ques-
ton. Ii then, no substitute for the Indepep.
dent Treasury" project can be adopted, il must
remain from necessity; and If it do, the election
oil GENERAL Harrison will produce no more effect
upon the business OF the country than that of Nj |
Van Buren,, excepting the short lived expansions |
aud specuatons, Produced by the delusye hope |
OF National Bank, that will be excited immedi. |
atsIy allof the election of the former. So soon |
as this question about N atlonal Bank is decided
this expansion will end in another pinch of the
screws, and those who put to sea 10 such uncer.
tam weather, will be shpwrecked, or compelled
10 return with loss. But this expansion will not
be great; for the Independent Treasury" can
not be repealed before the end Of the next Con.
,ress, and therefore will restrain the banks Ior
rear at least and the State Banks, anticipating
he creation of National Bank, will not expand
much. Tor Tear oil being called upon for specie TO
Ill It's vaults. Thus, whether National Bank
70 created or not, and we regard its creation as
Utterly improbable, expansion cannot be extern
I'VE or great. and money will be scarce for eve.
thing but moderate, prudent. legitimate bust
less. llthen, General HARRISON be elected, we
dv'se no man to buy stocks, or any thing else,
the expectation of rising prices. The rise in
ny probable event, canno. be great, aud must be
smporary."
Keep it before the people that Christmas is COM
e. Don't let the peope forget this. For heav-
MS SAKE keep them warned. Pickayune.