The Ripley advertiser. [volume] (Ripley, Miss.) 1843-1897, 1845-08-09

With IN outside show " prosperity, and bnally
bequcalhs wee and debt legacy 10 pos'cfNy'
-
From The Mnsinippian
THE GOVERNMENT DEpogIrEs.
This policy u continuing tho employment Of
banks and brokers NJ cnsiodians oi tho public
money, Ia everywhere condemned by the demo
cratic prcss. u Ia impossible 10 separate politi'
cal dciormi'y from moral treason. That which
y morally wrong can never DO politically fieh',
Tho whole sysiem Of chartered banking |" ~
war with tho fret principles Of democracy w
EQUALITY OF aieur and not IN special privileges,
Tho creed OF true democracy Is founded. IA mas
been happily remarked, the spirit OF tfuo wis
dom, In human affairs as IN divine,
"Ac,s not by partial, but by general laws"
No government IL administered on FREQ and
cqual principles which contors elias. The rov.
cnucs Of tho government are collected from the
community. The government represents that
community in collected or.aggrcga,c capacity,
aud should through it's own properly chosen
agents. safely keep, collect and disburso those
revenues. Whether the banks trade on actual
or fictitious capital, their employment by the
government is equally hostile to the great priD.
ciple OF EQUALITY upon which the supersiruc
ture OF democratic government must stand
Capital is the antagonist Of labor, ever seeking
10 pilfer from II its just reward. They who
would give to the banks the use of the public
moneys because they find collected together in
the banks an amount OF capital which iDsures
the safe return of the public deposites, are for
welding the patronage Of government for the
exclusive benefit Of the wealthy. They act up
on the principle that the end of government is
"to take care of The rich that the rich may take
care of the poor" This was the cant of the bdnk
myrmidous when General JACKSON commenced
his war upon the bank of the United States
1t will be their cry again whenever the effort Is
made 10 divorce the government from all con
nsction with banks and brokers.
The corrupt and corruptng connection be-
tween the government and the money changers,
was resorted to by MIR. TYLER. II was then
boldly condemned by the fearless organ Of the
democracy, the Globe! The policy now re-.
ceives no favor from the independent democrat
c press in every State of the Uuion. All are
united in demanding speedy return TO the In.
DEPENDENT TREASURY system. THIS is demo-
cracy IN Maine, IN Ohio, in Michigan, in Texas
The Independent Treasury is the only plan
which the wisdom Of man has devised for the
safe keeping of the public moneys, which, while
it Furnishes fraud, tavors no particular class Of
the community, no one branch oftrade; rlds the
government OF all connection with the banks
and insures EQUALITY of RIGHTS to the citizen
whether he be rich or poor
In elhe Mississippian of May the % b, we
commenced again the war upon the "pet bank
system. We have found our views sustained
byu the organs Of the democratic party ~ the
other States; and have been assured by the
Washington Union that the Secretary OF the
Treasury would Immediately abandon the plar
but for the embarrassment he iabors under by
reasoes of the concession made to the banks II
the act of June, 1874 We still think taal, Mr.
WALKER, knowing as none know better thai
, he does, the corrupting tendencies OF the whole
: system of chartered monopolies, would be justi
! fed in pronouncing the vaults of banks inse
cure places for the public treasure-and tea
. the country will justify an abrupt divorce OF th'
' government from the whole system.
:, The Cincinnati Enquirer, one Of the soundes
n democratic journals OF the Union-a mammoth
d sheet published daily and weekly, of the 10,
/. inst, copies an article from The Missssippia
e on this subject, and add the following just com
e mentary.
4. ave should think the experience of the pas
le in making banks government repositories, wa
is sufficient to deter the Secretaries Of the Treas
&c ury in the present age, from placing too niue
ap situations. Millions have been lost by this sy'
ne tem and still millions are entrusted to these in
ed Germs. Banks have heretofore been seecte
o. after government agents had examined mil
in u,eIy thsir-affairs and pronounced them pertec
er y solvent and safe, and they have proven ro
IN ten 10 the core. The Commonwealth Bank
nd Boston is the most glazing instance of the bin
in dependence placed upon the repu,ed credit
ed an institution in favor Of its being made go
IT. eminent depository; and no one knows but Til
al, some Of the banks now holding large amounts
rio the public money are at this moment equally
a. insolvent, equally as rotten. 1t appears 10
70. one Of the most inconsistent measures possibl
- for party protesting to have no faith IN banl
lr. Of any kind, to place confidence in them SO f
Oh as 10 enirust them with millions of dollar
without security to thu value of one single cen
:. The Secretary of the Treasury has been il
:" duced to remove the Government deposits fro
,se' the Michigan Insurance Company of Detro
ne in consequence of rumors being current affsc
'Se ing its credit, arising from some connexion
'le might have had with the Bank Of st. Clair
y. The deposits with that Company At one tim
'e. amounted to $246 $685. but according to Il
-. ~ last report, had been reduced to $l03, $780,
as The deposits Of the Government bear no lnte
y lest and therefore are of great benefit to Il
= institutions obtaining them. They enable Il
! is banks having them to discount more LIBERAL
nj, and to extend their operations more large
his than they otherwise could, and are of very VI
Ia liable assistance in making out semi. annu
s. dividends. The Secretary of the Treasury c;
rs. find plenty of repositories willing to give Il
" y. most ample security for every dollar receive
Wy and 1t is highly necessary some temporary sy
ey TEN should be at once adopted, ensuring Il