Mobile daily commercial register and patriot., 1841-10-27
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lrAt tsaf hole mass ,S cnnpose Wherever gold q. s,f,as oin is lh. stanhard of value, in the United a. | n throughout the commercial world, the eNeh es serve as a barometer, test the patue and cte lit of the local Currenrles oi the dlneehi sutes a" laions trading with each other.
 IL Is plain, that if all the non specie paying banks m the union to resume, and continue the pay nenl of specie upon their nntes the inequalities 'ha' now characterize ihe comparative value ol 'heH pa per would immediately disappear, and' m common phrase, the exchanges become regulated Ana u necessarily results from this that the existing sus- pension of specie payments by the banks Is the d. rect and immediate cause of all the disorders of the currency and !" derangement Of exchanges com- planed of. ments and restore soundness and uniformity to the currency, and equality to the exchanges Ah' sir' this is a pregnant qnestion. II is easily answered but the answer diseloses tt latent cause.-The real root ot all the evils which atflict Us. Some, lhere may be- which will resume, from ihe want oi ln' clinaton but few there are, take il, that ca" re- sune, be ause of ihe want ai ability.
 In the document already quoted, we find the ag9rb- gate of loans and discounts due the banks stated to be S462 s96, ,523; and that Ii will moi be far from correct to suppose that thirds of lhis sum to be due the banks now in state of suspension. Now, sir, the unfortunate individuals who bear the relation oi debtors to these banks, are unable to pay this in- mense nass-this uSuriouS Gccumufahoa ql uept'- The sum of 309, ,5s7 ,6S2, (two thirds of the apo1S aggregate) due them from insovent and embarrassed debtors, does not present description or character of res lurces immediately avaable-of debts so easi- ly coIlectabc. The indebtedness of individuals to another--of the people among 1hemselYes-li we are pay any respect to what is said here in favor of the passage of bqnkrpTt law, is immense-in- deed ncacuable.
 To what soHrce are the debtor classes to appeal for relief from the galling bondage that expresses theml The enactment cf bankrupt law may relieve such as are hopelessy insolyent; but the effect of such d law is the annihation, not the payment of debt; and under it's operation, an immense propor- ton of the debts due the banks may be annihated- but mol paid, The hanks may and in all probability will, be greatly weakened. A great deal of proper ty held by bankrupts will be disposed of at forced sales, with view to the distribution of the proceeds amongst creditors, under the operations of the law. The consequence of this must be very great decline in the prices of property: and further unavoidable consequence of such decline will be the bankruptcy of vast number of embarrassed debtors, who, at the present prices of property, by the sale of part of their effects, and hard labor, economy and industry, would be enabled finally to relieve themselves.
 The true and only means of relief with that class of debtors who not insolyent, but still oppressed with debt are be found in resort to labor, omy and persevering industry, By the employment oi such alone, debts to the banks and debts to ono another be discharged. The payment of debts to the banks will enable them to realise their assets and resume specie payments and the resunp- ton of specie payments win restore the currency s egualse the exchanges" and relieve the country from innumerable evils. To accomplish this great work, time, patience, perseverance, and prudence are
 indispensable requisites The country requires re- pose-freedom from political agitation and party strife. Men learn to rely upon their iGdl- vidua resources the only means of relief from debt and of the attainment of wealth, Government should do its duty in maintaining with rigid fidelity far as it's constitutional powers will enable it, the gold and silver standard of value ordained by the
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 Dor, industry, economy and all the virtues that make the good man and patriotic citizen to coerce banks into Il strict line of dusy, purify the currency and support sound credit
 These, and these only, are efficient means of re- lief for the debtor classes, the banks and the try, time the unerring test of the efficiency of all hunan expedIents, will abundaHtly prove.
 Debt is the disease of the country, the source of oppression to individuals and of embarrassment and discred to the banks; the cause of the want of uni formty in the currency, of the Arrangement Of the exchanges the general prosration of credit Time, labor and economy are the only remedies for this disease,
 But we are told thai this process of restoration and relief IS too dilatory, if not uncertani that there Is d nearer and more approved way for the pursuit and accomplishment of these great objects The bill which passed this house yesterday, incorporating a bank with enlarged and national powers, is pre- scented to the country being calculated to afford an infalibIe remedy for the evils complain off, II that me country IS De relieved Dy such means! Let us reason the case,
 Will this bank, when established, lgrant indugent loans and accommodations the debtors 10 the local banks? If so the time would not be far distant when, to the thousand instances we have already had, there would be added another grand scale of bank fa- ure. The late bank of the United States attempted,
 in the of its operations, to pursue this policy; and by it brought to the very verge of bankruptcy and ruini instead of being relieved the the country plunged still deeper in debt and the evils that attempted to be remedled aggravated hundred fold. If this bank is to ue managed in | way to accomplish the purposes contemplated in its institution, (which, permit me to remark, are as far above it's power to tcompsh heaven is above earth,) it will be the stgdous object of its to avoid all connexion with the debtor classes Loans to the debtor classes will prove unavailable atme of need; they will be much of the capital of the bank sunk for the time being for the accommodation of the borrowers; and such policy would be who'll | y incompatible with the duties of the bank in keep
 ing itself always in condition to redeem it's paper and preserve the soundness of it's credit. Managed with view to sustain it's own credit and supremacy, the result of it's practical operations must be to ag grayate the enbarrassments of the debtor classes to circumscrbe the credit and operations of the State banks to diminish the amount of the circulating me- dum of the country, and reduce the wages of labor and prices of property seow the specie standard The effects of such policy, connected with the ef
 ects of the bankrupt law which proposed pass at this session, may be attended with the most disas consequences; may oonyulse the country, un- dermne the interests, and blight the hopes of thou sands of unsuspecting And yet. sir, if the bank should pursue contrary pooy,-should exercise | lberay and injustice in it's discounts individuals and in its relations with local banks in the present uncertain condition of credit and of individual and | corporate responsibility, could scarcely avoid catastrophe fatal to itself, and the very interests it | might endeavor to sustain In almost any event be | it wise, ever pure unlike all other lures of its kind, all other exempIars which have | gone before 1t, and gone the way of all fesh it will fail signay fail, in the accomplishment of the great purposes contemplated in its establishment. When- ever the day of final relief arrives, the day which will bring with it the blessings of sound currency, uni form stable standard of value, and disenthralment from the bondage of debt, there will remain not the shadow of doubt as what the true means of relief may have been, Time will prove these means have been happy change in the moral habits of the peo. ple-a change of habits of extravaganza, prodgality, luxury, and their great atendent levers, financial quackery and fraud, for the simplc but high and be virtues of economy, honest labor, frugality, and industry. This baDk if it may not itself have toun- dered upon the shadows and rocks that lie athwart it's patl and thus postponed the period of final dev- erance and liberty, will still be regarded having performed an inconsderable, if not unworthy, part in the great reform. The productive energes of the country, quidatng debt at home and abroad, pour ing into foreign markets the rich fruits of our labor, and yielding in return full stock of the precious metals by which alone the currency can be restored and the regular operations of trade and business pros noted to prosperous action, will be acknowledged and regarded as having afforded the only substantial means of relief,
 To De econcl,.ded ia o,u nert.
 NEw-ORLEANs.-'The number of lnterments for he forty-eght hours ending Monday, at noon, was