The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-02-02
AI.ABAMA HANKS.

~ ffseetfls fronltGe Alabama papers, that tne
i.aoislstufe Of that State WIN fta;nlY pat q
|ljdnidasiof ana settlement four dfthe branches
of the state Bank or AAabams, TO wit: tie
branches situated at Mobile. Montgomery
nDdcatur and Huntsville? What win be The
.efeccof this movement ON alIe part Of the Lee
loisIature, we cannot divine. except that It
must necessarily produce great individual'dis-
tfess to- an GLASSES, and TO every interest in the
State. Debtors must speedily pay their in
debtedness the Banks and a large amount
Of circulating medinms Gin fact almost the only
currency of, th6.6tate)s must be withdrawn
from the community The bill has already
passed for winding UP the ibranchas at Mobile
and Decaturs and by a. sectiOnin thehibfhnse
branches, which may not elplaced in hquida-
ton, provided they resume specie paymentto
redeem in addition to their own isshes, the
bills of the branches at Mobile, and Decatur
in specie. We consider this of ITSELF at once
windinglup the whole banking concern. Any
one, who has in the least, been an observer Of
the times, will know the great difficulty almost
the impossibilily at this time, Of those banks
that have ever been conducted with the great
est prudence and care, 10 redeem their issues
in specie, but entirely hopeless must be their
condition, when clogged with such rotten con-
Germs az he branches before mentioned.
his however, is what we have long since
foreseen, the State institutions must be des-
troyed. It will be impossible for them to fur
nish local and general currency at the same
time. 1.-THE general government would furnish
currency, that would sufficiently supply ex-
change between the great commercial marts
of this extensive country, and not leave it en-.
tirely in the hands of brokers. Our State In
stitutions could and would furnish good local
currency, redeemabIe at any time in specie,
otherwise we will be compelled to come to a
metallic currency. This, in addition to the
and risk Of transportation, viii
bring down the labour of all inter-
ests, the farmer, mechanic, INGREDIENT and all
others to price far below, even the present
prices, which would seem almost to be little
enough compensation for labour. II is high
time that the people should break the shackles
OF party, and ponder upon these things, and if
any remedy can be applied, administer the
medicine as speedily as possible before thePa-
trent be reduced too low to be benefited by
1t seems to us that any one who will look
back to the history of our country when the u.
States Bank was in full. vigour, and with its
influence dispensing happiness and prosperity
% our COMMUNICATING State institutions
inc preventing over issues-furnishing ex-
change at low prices TO the merchant, travel
er, and trader ofevery description, and there
" benefting the whole community and con-
rast it with the present history of his coun- |
ry,-labor unrewarded,- exchange, in the |
ands of Shylock Brokers, our State insttu-
ions PROSTATE, the whole community suffer. /
1g. Hany ore will look upon such contrast
nd not desire to return to the good old days
y the letters OF party. and his mind SO be-
louded by the mist flung around it by dema-
cgaes, as to have deprived him both ofre0S0n
nd humanity. Such man we do not envy.
We have nothing ofinterest from Washing
q City. The papers from that quarter seem
be scarce of news Congress furnish moth
g as yet, of interest to the people. When
'er they take any decided action upon any
bject of public interest, we shall lay it before
If readers.
The Hon. JOHN 81. BERRIEN SENA.
r. FROM GEoRGIA.-We consider the
nation OF this gentleman quite enyiable in
late triumph over a Democrats Legisla-
re. 1t win be recoIIected that the Leoisla-