Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-10-28
WHICH Is THE BANK PARTY;
Bend. ErnmiRe. md Dccide.

Read, Eramlne, and Dcclde.
The following statistics on the sub
iect Of Banking in the United States
have been carefully compiled from
authentic documents, by practical bu-
siness man, who has devoted much
time and labor to the work. The in
quiry and compilation were induced
by the sincere desire Of ascertaining
from the History of Legislation, which
of the present political divisions is the
modern Bank party, is responsible for
the creation Of the excessive number
of new Banks, the consequent expan-
sion o. paper money, he imitation Of
the credit system, its final explosion in
the spring Of 1887, and the extensive
ruin and distress which has followed
in the train.
All agree that from 1920 to 1880,
except a brief and unimportant inter
Eruption. the country enjoyed a safe
and uniform currency and we'll regu-
lated credit system, such as never
before had been known. For the adj
ministration Of affairs during that peri
cd, embracing the last five years OF
Mr.. Monroe's Presidency, and the
whole of Mr.. J. @. Adams term, the
Wings are willing to be held accounta-
bic. For the seven successive years
up to the explosion in 1887, the pow
! ers Of Government and the regulation
Of the financial measures of the coun-
try, being under the control of the
present dominant party, they are just
ly answerable for the results.
The subioined table will be found lc
= contain much valuable information
No. /, exhibits in the first column th'
, number of Banks, and authorized cap
, ital in the States, Territories, &c., OF
the 1st Of January, 1920. The Sc
S cond column shows the number @
4 banks and autorized capital on the l.
; ofJanuary 1S37--Thus demonstrating
c the gradual and cautious Increase {
= Bank capital from 1920 to 1880, an
1t its boundIess and visionary expansion
Y during the seven successive Years.
e The facts here disclosed must b
h astounding to every one who has ne
e infinitely examined the subject. The
IS show that from 1920 to 1880, the ii
" crease Of banks throughout the couf
IS try was only %, and the increase
[, capitalist, 991, 657, while from lS3
" to 1887, there were 348 new banl
le created with S26S, 128, 900 capital.
$ The second table, No. IL, exhibi
st the predominant party in the variol
70 state Legislatures, Territories, &c
s. during the period from 1880 to 1873
IS. when the. 34S new banks were create
I'm as referred 10 in the first table. I'll
- Legislatures Of the Territories beiI
he subject to the control of the Nation
ty Administration, in the regulation
re its policy, (tbe Governor ofeach re
lis ritory being appointed by the Pres
C. dent, &c., and Congress being t
he local Legislature ofthe District of c
e. lumbia, they are properly classed wi
ed the party in power.
Dr. BY am enumeration of the legis
W. lures of the various States it will
nts found that lis were Jackson and Y
ed Buren,, 4 Calhoun, and 40 anti-Jac
os- son or Wing.
the II is proper 10 observe that althou
'ur the Legislatures Of some Of the Sta
is were anti-Jackson, during the peri
re from 1880 10 1897, still it was not |
ri natural that they should have been
,se auenced by the pervading policy Of
Die General Government of creating 81
es, Banks. 10 supply the vacuum occasi'
al ed by the Veto Of the United Sta
est Bank. thus aiding in the formation
Of that league Of Deposite or pet Ban
urs which President Jackson proposed
md substitute for the United States Bi
ON and its branchers. These antI-Ja
un- son Legislatures. although their don
ted slihtly affected the general res
dis merely adapted themselvs to the pol