Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1842-01-08
saturday, january 8, Is4l.


o. Bulletin, and it would be well for the Plan
ting community, shipping Cotton 10 New Or
leans, to receive nothing but gold and silver
in return for their crops. 1t is our strong be-
lief, that an explosion equal to that in Missis-
tippi, is soon to take place with the Banks of
discretion then, we say, for the whole popu-
lace OF our unfortunate State, to look well to
this matter:
OUR BANKS.
Our city was in state of great excitement
yesterday, as regards the Banks
For some time negotiations have been going
forward by the Board of Presidents, with
view of arranging the circulation by reducing
that Of some of the banks which it was thought
had redundancy, the vacuum to be supplied
by those which had reduced their issues too
low; and thus to place the currency on more
equitable and solid basis. These negotiations
were, il was thought, finally arranged, but
first one and then another bank flew the track,
and the business of yesterday opened under
great dstrust and various rumors, and very
H.
a perfect chaos as regarded business. Some
Of our largest and strongest banks refused to
receive deposits of any kind, except in their
own noteS--not even the notes of other strong
banks. Some refused the notes of certain
banks, and rejected those of certain other
banks. Some who refused all notes on deposit
received all of them in payment of debts !;
Others, who also refused deposits of all kinds,
would receive the notes of some banks in pay
ment of debts, and reject the notes of certain
other banks; and others, again, would receive
the notes of all the banks, either in deposit or
payment.
In short, there appears TO be no two banks
acting on the same principle, and none with
the least concert of action; and il NAV readi-
~ De imagined what a state of confusion ex-
listed. Some notes of individuals, we under
stand, lay over, because the banks refused to
receive the currency offered in payment, and
the parties would not tender anything else, al
leging that as the banks now refusing, had
within the last twenty-four hours paid out this
very currency as good money, they were
bound again to receive it. This system will
probably be pursued to great extent by par
ties having payments to make into bank.
1t is impossible to say how all this will end
and how the troubled waters will finally sett
down. The excitement is great, and some
thing certainly ought to be done promptly t
place affairs on a settled and more permanent
footing. A great responsibility rests upo
those who have been the immediate cause
this state of affairs, and like responsible
will rest on those who having the power to a
rest the evil and neglect or refuse to apply til
remedy. No one can tell what course atfai
will take to-day; and it is all nonsense to tai
now of strong banks and weak banks, as it
evident to the simplest mind that they are a
in the same boat and must have the same fat
be it for good or be it for evil
BY prompt and proper system of actic
the whole evil could be averted, and ever,
thing move on with accustomed regularity
twenty -four hours, and we sincerely hope sue
action will be had.