Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-04-21

assi'ig lines than the present, and shouldW
y least have the consolation that | had ],
passed unconscious and ia quiet, many OF
he evils that had produced so dire d state
ofafFairs. - 500 u
but TO return TO National Bank.
doubt whether any vii be chartered at the,
called session, and though the advocate Of
the measured question the propriety Of SO
much haste TO charter one, l would rather Il
see o greater calm ia our political hori 70
zon before the measure is fully matured
II would perhaps save another generation
much Of the distress and embarrassment
experienced by this, if little DELAY were&
TO be had, and the delay could not make
things much worse with us. Indeed ami
lot opinion that he who does not extricate|S
himself before National Bank goes into
operation, from his pecuniary embarass
'ments will not find any immediate aidM
sthcretrom. So far as | am capable ofE
reasoning on the subject, / am inclined toM
sthinh It will in the beginning lower the price
soi property of almost every description.
4 II It answers The great object of lis crea.
stlon, that Of correcting and purifying the
currency, It must for a time make money!
scarce and more difficult to procure. ItEs
als not to its immediate, but its ultimatese
aresults that look for its great benefits andE
BLESSINGS. Like MANY valuable medi-s:
5cines, it will nausate and sicken in the
abeglning. The whole system is surchar-
4ged with impurities that must be cast off
whatever the nausea or pain for the mo-
uncut, 10 the patient before healthy and
3vlgorous action can be restored. Befores
lii, many of the bank notes that are cur
s5rent from hand 10 hand, viii fly like bileE
ssbefore an active and liberal dose of tartars
semetic. 1t will be to such banks as are!
now sustained from local necessity, orI
from state pride, merely another spccieI
acircular. Those that sustain themselves
viii many of them, if not all, have 10 cur
tail their discount lines. If am not mis-
taken IN these conclusions as to the first
Nfruits ola national Bank, am sure you viii
3agree with my inference as to their effect
,@uponsour monetarya fairs. l know ma
@ny who advocate Bank, think its relief
Twill be instantaneous, wish it may be So.
Il But the currency has been too long, too
~ seriously deranged, to be instantaneouly
Es restored,
AS to the Sub Treasury, my opinion of
wthat is unchanged. 1t has all, and more
than all the objections of a National Bank
I without any of its advantages ; it has the
vsspower to depress, but not 10 correct OF
!: Eelevate the standard of our currency
eE.Ifit is not placing Immediately in execu-
flear
seast continually holding it before his eye
Gas a temptation. His patriotism is th,
Eonlv guarantee we have that he will no
Hclutch it, it has a stronger tendency t.
az concentrate capitol at the principle com
,es mercial points of or country, than an
hEssvstem of finance we have ever had. Thj
els its natural tendency, which aided by
" hweall or corrupt secretary of the treasur
!. would still further destroy the balance
.es bur commercial and monetary affairs b
w building up one or two commercial point
= TO the prejudice or others. 1t is suite
ne hot to a people who sc vocations are S
mi various as oars, and when there is s
of4much national and individual energy ar
on enterprise as with us. | know you W
that this energy aud enterpri
ms should be kept within proper and prude
~. limits, nor shall we differ on this point
od would not though i'll prescribing tho
aMlimts Of indeed we may use the ter
ortaIimit, as 20 that which is illimitabe) or
M ple or restrain this noblest and proudC
y ppfAspirit of Americans. So give it prop
~ r;dreclion and furnish to prudent exte
.beEsthe necessary and proper means, for
& @iudicious and rational exercise of
RIM SHOULD be the true policy of our govel
Inv ament; beyond this ii should not aten
Ito 90. To this indomitabe spirit we ;
asEsin debt for all our greatness. We are
We Syounq not yet, hope arrived at the V
;La Hour Of manhood. Shall we then 81
On short in the most brilliant and success
ON 5career that the annals of the world {
~, Eboast, merely because we have on
.ionE: occasions, imprudcntly or injudiciou
aused the means that have secured to
all our greatness, and dwindle down /
NJ national imbiciity and dotage
;cer To this point, This boasted independ
, atreasury Of your party, this fnan
= g panacea of the political empires in m
No., #ern democracy, would soon bring US
Ia system Of finance not suited to you
% Inspiring, enterprising and intelligent !
o,,r Pile. 1t may do for an individual VIII
no I'm the decline of life, or who has lost {
49, Evidence in, and become Disguised \
g HIS race, to resort TO his specie and
.nr strong box But whenever he does
;,ad4he becomes a drone in society. II l.
Ill a man in business boast that he owes
,,s,,I man, / set him down for Shyl'
nan, Ibis hatred or his revenge may, bat
, Nh noble or viftuous passion can ever
or superior to his love of gold.
- 1t would to be sure, be comforabl
o o;no many Of US just at this time, cou
'.;.l make this boast, but sir would not a
III 5;s am sure you would not, could our
, bis be wiped out have it done on cond
.o a.a 1--we should exchange characters with
To- lwho make the boast. But an dig
800 Hing, intended TO sheW the parallel {"
' 'l"i JE3I think will hold good) between the
i' ~ 4yidual who eschews credit and takes
I'd specie, and nation that will DO the
- - 3lfin the one case it argues a narrow
49,, tracted policy, degeneratlng and &c
: r', anr alizing tendency, cannot see how
- Inc otherwise in the other. am g
- 80 III 70 the bottom of the second sheet,
On - more of the Sub Treasury, you asl
-, ,an .oninion of the Inaugural, the cabinet
i -