Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1841-08-14
MISSISSIPPI

In no quarter OF the Union have N.
full effects Of locofoco legislation besn Oane-
more manifest than in this nobly STAT made made
was when the name of Mississippi was l.. zine
other term for prosperity. Under III. ma Su1 an
Of an active spirit of enterprize, her S o;,
were advancing rapidly to individual aH S.s0s
and tile credit of the commonwealth rsS
tending itself throughout the civilized s.' e.
In an evil hour, however, her people co" ~e
ted the reins OF government TO the banSs !,
the SO called democratic" party, and un;,'S
with the experimenters at the head Of ,ba ' M
tional Administration, in their mad c,rs S va
reforming and lettering the currency IT.
all the rulnous measures Of the spoilers ,LS
state lent Its hearty support. "Dovn VIII
National bankp shouted the reCorr.rs ul
the people OF Mississippi responded-ano~o
with itp The mandate went forth ~ .rO.,.
the place OF the "monster" with state Xxx; pi.
tutlons, and 10, obedient 10 the recommenS S.
ton, myriad of currency shops oyersnrs.S
the land. The great apostle of financial -
form had said through his moutb.pieces ,bs,
currency and finance were simple subjects os
much adapted TO the comprehension Of ,b -
mass as any other pursuit in life. and that ,bo
completely which had been attributed to them
requiring long study, much ability and vast
information, in order to qualify one to be
financier, existed only in the false representa-.
tons of the few who shrouded it in mystery
that they might keep the many in ignorance Of
their power. The planter forsook his plough.
the merchant his desk, and the mechanic his
workshop, and rushed with eager haste TO en-.
gage in the business of banking, TO reap the
golden harvest which the discovery Of this
Great Reform had opened up before them.-
The State herself, as if vieing with her citizens
in gathering the benefits which this MARVEL
Gus light had laid open to the gaze OF MANKIND,
launched boldly into the popular tide, and
chartered the present Union Bank, authOrl
ing her faith to be pledged to the enormous
amount of fifteen millions of dollars. For a
time, and but for time, all went on swim.
mingly. The smonster" which had kept the
people in darkness, was dead, and the fathers
of the financial reformation rubbed their hands
in glee and said-"Behold how gloriously OuI
system works!-all riches and honor, and pow
er and dominion be ascribed to modern Dem
ocracyp
At length the bubble bursted, spreadin
ruin and desolation over the land. With III
explosion change come over the spirit {
the reformers. They who lauded the systeI
ofstate banking to the heavens, and had
acts of legislation stimulated credit to its u
most excess, were now the most bitter ia d
nouncing the victims OF their own folly
None have been more SO than the locofoct
of Mississippi. Having deeply impaired ar
injured the credit of the state, they would no
give the final stab to her good name by viol
ting her plighted faith. The letter of Go
McNUTT in another column, if sustained b
the people, must destroy the last vestige
public confidence in her integrity. We sha
not now enter into consideration Of the leg;
liability of the state, or pretend to determin
whether or not she could in court Of law
vail herselfof aquibble to escape the paymer
of her bonds. 1t is enough for us to kno
that they were sold with her knowledge an
consent--that she received the proceeds an
used them. She cannot now bubble abol
the terms of the sale, or repudiate the acts
her authorized agents without dishonor. TIL
time for that has gone by and cannot be REGAL
ed. 1t is, at any rate; A DEBT OF HONOR, an
she cannot avoid its payment without loss
reputation.-Memphis (Tenn.) Enquirer.
A Tennessee paper observes that Mr.. Jone
the wing candidate for Governor in that State