Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1844-08-21

in which he extols the Southern wings 81
: highly for having taken SO manly stan,
for the protective system, he goes into
most statesmanlike examination of thu
subject of the currency, and handles it il
a manner clearly showing that, in his opin
J ion, it needs net the help of a Natlona
2 Bank. 1t is my confident belief, that tht
mass of the intelligent of the wing party
f at the North is with Mr.. Webster in thi!
opinion, however they may remain silent
or even give color for the benefit of the
party in those sections Of the country
where the bank question can still be made
available as political stalking-horse.-
: Nor does the manner in which the wings
in the House voted on Saturday last, on
f certain resolutions Unexpectedly sprung
on the House from the committee on Elec.
tons. weaken or alter my belief Those
resolutions are so framed, that, to vote
against them, amounts not even TO an in
timation in favor OF the establishment OF
a Bank; though, TO vote for them, is a
very strong expression against such an
institution.
These resolutions were Unexpectedly
introduced al the opening of the session
in the mTning; and it SO happened that
! was absent from my seat, having remain
ed in my room an hour or two, engaged in
writing this letter. ! am, therefore, par
ticularly rejoiced at the opportunity your
call gives me to express my views more
explicitly than could have been done by a
vote on those resolutions.
Gentlemen, with the profound convic-
ton | entertain Of the want of even the
sembance of necessity for The creation Of
National Bank, on account of the pre-
sent or probable state Of the currency,
believing also that such is the sentiment
of most considerate and enlightened men,
even among the wings, who are not willing
to make such question party football
| am satisfied that, if Bank shall be estab-
lished during the coming administration, it
will be done as mere party meas ire;
and the ferceness of the party war of
which it will be the object throughout its
existence, will be without example. Ii
the General Government desires to pro.
tOhN tHO R1tuAO0 vi tlitS OLlOh W
ton and every species of dangerous ex-
tremity, let it, as now proposed, establish
a National Bank as mere party measure
IA party engine-as vast money-power
for strengthening the hands of the Gov
eminent. For, gentlemen, if this thing
shall be done, is it not clear that il must be
done with these views-at least with this
effect? For 10 ask for bank for the sake
Of sound currency, after the currency has
worked itself sound, is quite as preposter-
GUS as it would be TO subject man TO
strong course Of medicine after he had
recovered from severe malady by the
mere powers of nature, without the help
of medicine. Surely, constitution that
can get we'll without the aid of physic,
may be properly trusted to keep well with
out its aid. AT all events, it is certainly
entitled to respite from the DOCTORS
hands until it shall begin to show some
symptoms Of returning disease. | tell
you, gentlemen, that for any party to lay
its strong hand on this now healthy country,
and force National Bank down its throat,
as mere party measure, will be the most
fearful currency experiment that ever was
practised in the tide of times. trust that
that portion of the wings of the South who
signalized themselves by being against a
Bank, at time when they should have
been for il, will weigh the matter well be-
fore they signalize themselves again by
being for it when they should be against
il. For, in connexion with the arguments
against such an institution, founded on the
absence of any necessity for il in the state
of the currency, present or prospective.
Southern men are hound TO look at in an.
other view, which ought 10 be decisive
with them against it. Such an institution,
if established, will add another, and the
most powerful of all, to that list Of money
engines which l have enumerated, as con-
shutting policy going 10 strengthen the
Government unduly, and TO secure and
consolidate its powers and management
in the hands OF the Northern sectional
majority. For, in regard to Bank, no
man can doubt that the control over it will
lie where the commerce and moneyed ca
pitaI of the country are mainly found
and that is in the North. Well, the
weight of population and Of control over
the Government lies, and viii forever lie,
there also; hence, the Bank and the Co
vernment will both be extremely certain
to imbibe the spirit, and 10 obey the inhu-
ence and impulse Of the interest and
views Of that quarter of the country
This, alone, would naturally lead to ge-
neral alliance and cooperation between
them. But when we bear in mind thai
the Government is not only 10 be the crea-
Tor, but also the largest stakeholder and
customer of this Bank, and that the Bank