Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-03-13

'tft. ufftlse tl me It8fIai N.-a-lNi4 .f'.t.- EN-.
c-cdtare expressly inhibited and ga tae bai %.
tights pref1-d Go om con-tJu;.rn, exclusive be-
Iedilsry ,mo.umeuts ar, also Iab.oret am
sell aware of the fact, that 10 preach ,i, doctrine
To az interested community Wbo believe that BANKS
come by The grace Of God, is Ike singing psalms
"a a dead horss but tie force and justice Of truth
ia not 10 be luumidlied because men, from self
sh purposes and sord.d motives, turn a deaf ear
io a. Those whose interest i 3. to haze banks,
~..l never descend 10 argue It's point calmly and
jtsptssllnl,eiy. lflhey caHaot find authority H.
to- bl %. usht. te.ore the constitution Tor banks,
hey can iu ID 5ai q wrongs after IT, But 10 com,
alre directly to the point, can be possible that
DC frawsrs Of the constitution ever intended 10
gave he legislature the right 70 borrow money on
tie ialh aud credit %. my property and yours, and
eve It 10 auy set oi men to be used for their es-
pecai brneh2 vii maynard point out what
ieutil ha- resulled to the state, provided tic
1 mon Bank had proved successful. Was 1t not
| confirming al exclusive privilege on few, aud
indeed ht. not the result been benefit for We
~ les 10 me deIrlneut Of the mauyl Can It be
seriously coulend,d that the legislature has the
night to borrow money 10 create private banks.
ahtu N 'he bal olrighis exclusive rights and PRIV
| lfge- ave expressly prohibited Now the qnes.
ton comes, what Is an exclusive privileged LA
bank, owned by individuals, such one as the
bill Of lights forhIds II il IL, take II that all
hoatSt men Will agree WITH me- that the legisIa-
tare transcribed it, power when II made The loan.
What understand by exclusive privilege is this:
| lflhe legislature we're 10 pass law by which
"ilaud s. IIuddIeslon" should have % per cent
on all tue money they loaned, while he balance
d d, community should have but ~, shonld
consider ibis an exclusive privilege, yet this IT,
lers not from the Union and other banks They
are allowed to issue three for one, and Ia many
! Instances II is fifty for one. Were the eai-ia-
lure to pass law authorizing Hand 4 iiu1llo.
ston when they gave n note, and instead Of prom.
lsIng to pay prom1 mol TO pay, While all others
we're declared this privilege, should consider this
an exclusive privilege. In iine. # the legislature
were TO pass law by which nay man mlnht ie.
Id'e he payment Of jus, debts with IMMUNITY, and
exempt ls property from the liability Of his Goa.
tracts, should deem u an exclusive ptyilerr.-
let as now see whether banks as heretofore
established IN Nilssissppl, IN their pu,c ical ore.
fa'lons md effects 90 The community ne less odi
Gus aud destitute Of public rights aud hbe.ty than
those cases | have supposed
! aln nol 81 liberty go beyond the Union Bank
nor vii | insult tic common understanding and ur.
'siY Of The community hy citing ttcin 10 the frequent
occurrences " thus secton % tAe state. mean 40.
Va imppe any thjpg IKE hoHesly TO ia directory
o. the Union Binki att ibute the fact ops nj, MAI
HaaA to minamg uent reSu'iingin tho main Gar,,
igapranee as to the correct system OF banking. Il
IS true The directors made &c@r loans to themselves,
bull have not understood hat The Bank win loose
any thing Oh tllat score. Bgt the evil consists in
granting 10 lew men the faith OF money of tine
state to pccnlato on 1t will be seen that tho oap
were parlla as viii always be and now whte lo,,
have been benefited, all must hc made nllier,,e
The contrlng tbs use 0, lie pubic money Is b,l Of
wnch complain. Il was IN drtct violation nj Nm,
hltl OF Rights which IOrbdS any cXcus sc PRIVILEGES
~ ne community except IN n,lirralion OF phhuc
NetNlces, Now, whether or not these services are
TO be subsequent NC precedent is matter of consil-
ersblt doubt hnl Will say subsequent ard SO in tie
core aihe Union Bank what has rendered to benefit
NE STATE. say none was even lnleuded, tor had
the concern proved profitable one the slockaohi-
ems and not Tie State would have reCt lived toe pro-
Its, Int shat be said that good currency was
the consideration. answer and say that 40 Bank
that y based on the pr ncip'c OF the Unioa Bank
ca give good cnrreucy Paper post nules uev.r
was nor never viii he an equivalent Tor gold and
y liver, and no banks which ssue more thln one luf
l,
~ trust shown lhat banks are Unconstitutional
aud that ihe Legislature has no night to borrow
money from them. come now to consider for what
purposes the Clause to borrow money was insert
N The compact aud the purposes TO which Il may
be lcgitiuatcly applied
lnaSnueh as The constitution hreathcs spirit OF
equality, and that the nights oaI are to be pr1,cccd
SUppuse they meant that this money borrowing
portion should only be excused il cases where tAe
/ NM. Hin ,.,l us,ts III /, al
promotion ~ common scap0Is by diHusny the pr n.
clples o Education throughout The land. A system
ui internal Improvements ~ which all would BIZ al
| lurdtd facilities to market, and the advancement o.
| lhe scleuce o agriculture, that great pillar Whcl
| SusialaS alI other interests There mist be some
definition or limitation preferred TO lie meaning and
! eNteut Of The clause. lit is minated, the profit
gacy ol the Legislature might prompt them 10 APP
! ply The Ioh and money ct the State to the most
base and dNgracelul purpoSeSes. Such for iusianct
as The creation and establishment OF houses of Il
fame gambl ng houses. race courses and the Ike
lleprni, and sol mnly repeat that unless some imi
tatoh IS preferred 10 the meaning OF the cause, The
most awful abuses viii most likely IN u alte- time,
ensue.
Having said this much IN relation to The power u
the Legislature % borrow, or create Banks shall i,
| The next number treat Of the manner N which IL,
law was enacted, and the terms on which the loaf
Wdh maze. tn dong TINS, wish II Ia be distinctly
understood tIiat am 10 asprant or officer, but All
a private citizen, Fighting Tor my rights aud the pen
elble eniol mcnt . my property. have no persona
ainhitonio gfauiy. Equai rights and Ubeytyis all
want NY property is my own, owe no man ON,
cen iufll, and wish 10 enjoy il, and when d
let It g. where God ana Tie country wills il,
CURTlUS
Fer The Democrat
FRANKLIN ACADEMY.