The Port-Gibson correspondent., 1842-10-29
THE CORRESPONDENT TIMES
NEW PROPOSALS.

THE CORRESPONDENT | - IMLo-
NEW PROPOSALS.
Ia the last number of the 25i volume
we gave notice that in our next numbe
we should issue new Prospectus, ofe
ing the "Correspondent" at a reduce
price: but in consequence Of press {
important business, we were .compelle
10 defer it until the present number.
In offering 10 reduce the subscription
price Of our PAPER, we must beg 70 B
INDUCED in giving very briefly our rea
sons therefor.
Those who are familiar with the stat,
Of trade, and the seeming healthy condi
,ion Of things which for few years pas
dawned upon the country, have now an
opportunity Of realizing the fact, that
what seemed 10 be prosperity, was but an
empty bubbe-an inflated state of things
that could not ast-that was bound TO
suffer such reaction. as would almost
destroy the patient. Such at least We
know 10 be The fact. We know that when
a mass Of rotten, corrupt, and irredcem-
able bank paper constitutes the currency
so plenty that it scarcely requires the
asking to sobtaipit. by the bushel-that
those who get ace no value upon il,
but squander ii without regard TO quan-
iity and with almost certain assurance.
that when what they have IS exhausted,
more is 10 be Obtained upon the same
terms: we know that such a currency
produces a falsd ale of things-deceiyes
men as 10 the real state Of trade, and
engenders withal ,le worst species of
moral depravity. Indeed, 10 the inaa,
ence Of BANks, and paper currency gen.
eraliy-or in word, to the general crelH
syaem--nre we indebted for the great
prostration OF business-the necessity of
the Bankrupt Law-the doctrine of re-
pudiauon--and for almost all the evils
that hang over our unhappy country al
this time.
Il is totally out Of the power Of any
or all political parties TO remedy the
existing evils, untifthey turn their inRu.
ence against the general credit SYSTEM
and against all corporations having the
power to emit 'biIls of credit:' for say
what you will, 10 them are we indebted
for the general stagnation Of trade.
For the first time in a period Of many
years, We have approximated to some
thing like metallic currency: and al
thoughtho transition from paper to specie
from the shadow to the reality--has
been sudden, SO much so as to take the
commercial world by surprise, still we
begin already to feel and witness the
beauties Of the system. There is uni t;
ormiiy in trade, corresponding regu-
atlon in all the various branches OF COM /
nerce or business, a correct reduction of
abor and produce 10 their fair and legit- ,
mate value which we have not known t
or years past. We are not blind 10 The Il
act, that Cotton is low, that money Tor
indeed rags IS scarcer than hitherto--but o
ur eyes are also open 10 the fact, that
here IS more specie in the market than E,
as been in the country for many years d
revious. What, we are asked. has SO 6,
sduced the price Of Cotton? Perhaps. al
I'D i is very probable, it is the sudden Sc
nange in the currency Of the country &C
may be. because we have nothing bur #
I'D and silver with which to trade: Al 8
events, VIC admit this TO be the fact: di
ID take the ground that il is, notwith>
anding the apparently deprecated price .U
Cotton, the only period during many n
'ars past, at which we have had any 81
ing like sound, safe, honest, and sub. IL
initial slate Of trade. re-
So soon as the paper currency Goes no
Of market, or depreciates, The galpe W
specie at once increases sufficiently to oh
, solidly, the vacuum; and 100 baIes.or IS