Lexington union. (Lexington, Miss.) 1838-18??, 1841-05-15

ana DHLhSy ~ "nANft ""f% FT3 ~ 1Fj.s 47.fF l'
sissippi should feel deep and lively
interest as the issues Of these banks,
constitute almost our only circulating
medium @ Ne
These banks stand upon foundation
scarcely less precafious, Than DID the
banks Of our own State; and they have
only been able 10 keep ,heirsheads above
water thus long, BY a vile system a plum
der, almost without parallel, even 10
The history Of banking.
They have nowewell nigh run their
desperate course Of swindling; their true
condition is beginning to develoPe llself;
and they are madly rushing into vortex
of igretrieyable ruin whose blighting iuflu
ence we fear, will be deeply felt by this
State already sorely afflicted, by the
ranges Of such swinding institutions.
II our citizens would escape unscathed,
they must watch these sinking institutions
with argus.eyed vigilance.
"The most exciting matter however,
Just at present, is the discovery Of I'M
mense frauds perpelrated By the bank
Iclerks upon some Of the city banks 70
the State Bank, the sum already discover
ed. exceeds $4,000; in the Bank o.
Louisiana, 100000. II was fortunate
for the public, that the robbery took place
in these banks, as in most any Of the
Others, it would have been kept secret
The whole banking system is corrupt and
rotten. The Bank Of louisiana will no
, longer redeem her notfs, SO her paper Is
now on d par with the other miserable
I,ickesv institutions. Mr.. Story is rich
, land clear Of debt; he only owns thirty
shares, or SO 900 worth ofstock-jusi snfi-
Gent to qualify him 70 be President.
Fl The circulation and deposites, or liza
, Utilities of the banks, on the 7ih October
. Hast, were gil 1926, 1886; specie, $3, 49,
, 4O7. On The Slh April inst. the circnIa.
ton and deposites, or liahili'Ies, were
/ Sl7,675, 447; specie, So, 49, 7a From
] his you will perceive tina, the increase o.
liah,Iities since the 7th October last, is
i wItnln a very small frac,ion"cf fifty per
4 cent.
c "Exchange on New York has advanc-
e ed 10 Al a. per cent, sixty day bills
!. Checks on demand, 7premiom. Specie,
$ 6 premium. ,.
! '.Cotton is now higher thansa any
!. lime this season, owing to the fall IA bank
y notes. and the extreme low rate "a tFeiga's
il which il now 3.Sd for Liverpool This
2 i caused by an excess Of tcnagc in port
: With the eight we have afpresent--
! and the meagrefacts before Us, il is lmpossi
J : Bic 10 appropriate properly each mans
! share Of encouragement, guilt, error, q
! folly. From 1923 up % 1886, the Unl'
!. TED States Bank seemed % be well man
!. !. aged Z, 10 preseryea great uniiormityi th'
: currency and exchanges. Was this ma
tural Or arli6cial effecIg we would nix
! 10 know the whole private history 81 III
1 I bank during that period, before we coul'
J form an intelligent opinion on thes"hole
Mr.. Biddle has been hitherto esteemed
i great linancierand an accomplished ma
!, a both ia this country and 10 Europe, and
= would seem to be but iustto hear all b
i has 10 say, before he By hoPelessly con
i Edemned.
be Certainly the United State Bank ha
been Sadly; dishonesty, and foolshl
ct managed; but Do We mol believe that ther
he exist q bank throughout the country, ,h'
hi has been conducted on any other prime
~ pies The Inherent error IS n he syster
II EItisa system of credulitg, mystery; q
Iception udand rognery from beginrln
at Ito end ii corrupts The heart;it destroy
he IAN principle---and ii saps The Foundation,
10 ail honesty ia society. The United Stat
III Bank has not been q more marked frot
IL. upon the world than any other banls-
ay is only greater ID proportion p its capita
,us --NichoIas Biddle Is mt a worse ms
ia Than any other manin Wall street come
Ills lied with, or administering system that
I'd CONCERNED in swindling, sin, iniqulty my
ltery, and midnightrobberry.
ares The Banking system viii 60 down, ~
co. all those who hang upon u will soon
Hooked upon as fiji inmales for tlic Sta
Prison. The misery and poverty WIFI
liz have ovortaken The poor deluded stcckh,
pds ldcrs Of the Uniied States Bank--tne
or women, and children--wil assured
he overtake the stockholders If every bal
III.