Southern Argus., 1842-09-06

entirely by the New ON - price cur
rent of bank notes. Ne@ Orlerans
Bank Notes have heretofore been
preferred to any others were the
principle kind in circp before the
late suspension. TIL hem that
are now considered will pass
there, but at the same unit that is
charged in New OrI Alabama
notes pass upon the e's, and
so will the notes of OIL States:s
1t is a capital ofenI to pass the
note of broken bank.
Many suppose that the issues or
notes Of the Government is the only
kind Of money in Texas, but it is
mistake, they are not used as a COM
mon currency at all, among the peo-
pie, and whenever ussdindAe, payment
of debts it is at an agreed XaRe. The
Government receives these notes in
payment Of Taxes and import duties.
There is mnch 'less embarrassment
in Texas than in the United States,
less sacrifice of property, less distress
Cor money auj more confidence; |
mean among the planting interest. In
the towns there is equally as much erli7
barassment and difficulty and perhaps
more than can generally be found here.
| am clearly Of opinion that the towns
Of Texas are about as tri0ing places as
can be found in this or any other coun-
Try. do not mean TO say that there
are not many most excellent and wor-
! rhy Gaonle TO be found in some ofthe
towns, but take t:,e;%2 as whole and
they are a bad sample Of the country
allude to this only TO say, that many
persons have gone TO Texas and only
visited the towns and from thence came
to The conclusion that Texas was poor
contemplate country, and that there
was no money in it. 1t is very true
that money is scarce there and il is also
true that it will always be scarce unless
they make something 10 procure il with,
and it is equally true that money is get
r ting to be a lille scarce with few ofthe
people in the United States.
: No Political Economy that have
2 consulted, lays il down, that money
a constitutes the wealth of nation ;ifi
, were so we surely should have beer
t exceedingly wealthy in 1886 and '31
r when in fact we were importing pro
: visions. Subsequent events clearl,
convince US that we were not at tha
t time in a sound and healthy condition
= Texas began at the right place abou
$ money matters what is in the countr,
belongs there for something which ha
t been given in exchange for it, and il
r this way she will grow rich whilst W
e will be vibrating like the pendulum c
v clock, having nothing fixed and sta
"a BILE.
d Texas is getting in conditio
N to have. the best currency the Worl
J. affords and she will be able TO dra
d her Bills Of Exchange either upo
y. Europe or the United States. H
a Cotton Bags will afford her muc
ID better currency than can be made
any act ofincorporation and until tie
are made l believe the less money 81
{ has the better, for it would only gil
a bloated or fictitious value to prope
- ty and make the people more depe
- dent upon other countries.
The people in los have goI
I. more into a sort of barter business tb
yh any people I k pf They exchan.
Ia one kind Of pA Stty for another al
ed if a man has neither money nor pro
ng erty he neither buys or sells muc
n but is obliged to go 10 work and ma
If, something, and if he goes at that,
rt- will be we'll rewarded.
Very respectfully,
M n CANEV