Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-11-30
RESUMPTION OF SPECIE
PAYMENTS.

season of the Legislature draws near,
is already arrived. Accordingly, we
fad the various presses putting forth
sage views upon it. 1t is a very ia
vorite theme with the Loco Foco
scribblers,a AS IT is with the orators Of the |
same political complexion, upon the
stump. They are all Of one mind res
pecting it--and DANGEROUSLY demand
an instant and universal resumption
They do not admit, that any conside-
rations affecting the welfare ofthe peo-
pie, will excuse a longer suspension.
They take il for granted, that every
man is prepared TO pay the Banks what
he ows lhem-and whether this be the
case or not, it is the duty of those IN
stitutions forthwith TO comply with
their obligations. The paper which
has been most conspicuous in the out
cry against the Banks, is the Rich
moDd Enquirer, the Organ of the sus-
peaded Bank ofYirginia! Nothing will
satisfy the scrupulous and conscien-
tious Editor ofthat Print, but immedi-
ate resumption. His nice sense Of
honor is shocked at residing in COM
munity where any man or set OF men
do not pay every cent they owe--and
he is so prompt and exact in discharg-
ing all the obligations against himseIfI
that he has no sympathy for those
who are so unfortunate as to be behind
the stump. Plank down the cash, kiss
the call-skin, or go to Jail, are the only
alternatives which this merciless ORA
co would extend 10 the debtor class.
Probably, if he owed the EBank 90 or
100000, which he would not or could
not pay he might entertain very differ
ent sentiments. He could not be so
unjust then. as to do that which he
himself refuses to do. There would
be manifest indecency and wrong in
making the requirement. No man has
a right to demand equity, until he has
been first Just to others. If all the debt
ors of the Banks would pay up, we
doubt not that the Banks-even the
Virginia Bank inclusive-would fol-
low the example, and resume and
maintsin specie payments. But no
one who owes these institutions has
any right to complain Of their omission
to perform their duties, whilst he is him
self a delinquent, and withholds from
them the means Of doing so.
As TO the general question, we feel
personal indifference. IL our Loco
FOco friends insist upon resumption,
they are welcome to it--for aught we
will do to the contrary. We have on
Iy to say, that we deem coercive re-
swnptioa by the Virginia Banks, i'm
polite, so long as the Banks Of the
neighboring States are in a suspended
condition. A writer in the Baltimore
Patriot considers the idea presumption
at an early day by the Virginia, Mary
land and Pennsylvania Banks, ss alb
surd aud prepOsterous. The latter,
he says, are privileged by law to re-
main suspended for five years--and
all the signs warrant the belief, that
they will avail themselves Of the privi-
lege. The New York Banks (he adds)
will suspend in six months. inevitably
unless high Tariff to arrest the i'm
pOristiOn Of foreign goods and the ex-
portation of Specie be adopted. Tn
der these circumstances, the only eff
feet presumption in Virginia-except
in a modified form-will be increased
pressure for time, to be followed by
a suspension Of indefinite duration. i
has occurred 10 US, that the Virginia
Legislature might secure all the bless
ings Of good currency, within oul
own limits by fixing some future day
fer FesumptiOn--say the 1st Of August
neX,-and at the same time authorizing
the Banks to put all its circulation il
small notes Of the denomination of 81
and So, Tor limited period of 2 ORB
years. The efficacy Of small notes il
aiding and maintaining specie payments
has been strikingly demonstrated il
England. The re suspension cOntinu
edlor 90 years, and might have endu
red TO the present time, but for resor
to them. They will not be attended
with less beneficial results here.
But we repeat, we leave the settle
ment of the matter to others. If the
Locos come to fRichmond, animate'
by factious spirit, and less intent o.
promoting the true interest and homo
ofthe old Commonwealth, than sub
serving party ends, they are welcom
to do what they please with the Banks
They are Institutions which belon
properly to thsm-they have mad
them what they are, and it is their du
ty and privilege TO dispose of them a
they may deem fit They may win
them up to-morrow-the Wings ca
stand the screws as we'll as the Loco:
But we must insist on one thing: thu
no suspended Bank shall complain {
any other suspended Bank--and n
man who owes Bank and refuses I
pay, shall demand resumption, Will
he himselfis in a state Of suspension
Rich. Wing.