The lynx. (Panola, Mi. [i.e. Miss.]) 1845-1845, 1845-09-20
..ANTLBsNK. CONSTRUCTION,

! s
Of lhe 23d of July proposes an amend
| .mcnt TO the State Constitution, prehi-
/ biting the 'charterlng of Banks IN Mi
tune to come In a subsequent num-
| Der, tits stated that two or three papers
have come ont in favor OF: the meas
ure, and the press generally, (without
regard to party, as we understand ~
are invited to speak. cut upon The sub
ject.
For oursclf, we have no objection to
give our views: We shall not oppose
such an amendment to the Constirion
and FOR. the following reasons: first,
We have ever believed an agricultural
| people better without banks than with
thcm-seeondly, we do not believe
there is sufficient financial skill and
experience in the State 10 WELD success
! fully large sums otmoncy in banking
thirdly. there Is. not that
sort Of unemployed capi'ni existing
here which could be most benefcialIy
invested il. banking operations:
Dat, white we. agree 'n5l to oppose.
the proposition Of our opponents 10 rem
der the future chariering of banks i'm
possible, by constitutional prohibit
ton, VIC think there is ano Der thing to
be done before we can have Ike full
benefit Of such policy. h cannot
be any very great peaefi, TO US 10 insert.
such a prohibition in our own State
Constitution as long as we arc subject TO
! The inundarion of ''shinpiasters7' from
Tennessee, Alabama, ArkansaS. DC
&c, though prohibiting the char,ering
] Of banks here, is a very good firststep.
I'VE therefore propose, IN addition 10
The plan of our cotemporary, an amend
ment othe constitution of the Z. States,
expressly, prohibiting the granting OF
bank charters by the States generally,
We also recommend fhe passage OF
such laws by our State Legislature as
will e8ectuefty prevent the circulation
in Mississippi Of a single dollar Of the
bank notes'ol Tennessee, Louisiana, AL
ALBANIA, or any olher STATE.
AS for our commercial cities, 1t may
be necessary that they should have
some. banking laclllies, notwlthstand-
ing the farmers and planters can do.
without them, and, we have no doubt,
will be better off for having banks kept
entirely oui Of their reach: b 1t this ac-
commoda.ion TO the cities and trading
towns we think, could be very easily
arranged without parcel of monster
institutions, chartered. with their mill
ions Of capital. Twenty to fifty. thou
sand dollars of actual capital, actively
devoted by any inividual or partnership
lsay a limited partnership. under law
I already on our statute books) IN each
of our cities, TO hediseounling or pur-
cnase OF sight-or very short drafts on
the large cities Of the Union (darwn on
actual means, as cash, cotton alread,
sent forward, &c. aud to supplying
those who wish to make payments there.
with drafts on those places, so as to
furnish the merchants with the means
fof remittance or Of turning their for
cign demands into cash here, might
De all sufficient. Such individuals or
partnerships should also provide them
selves with strong fire and robber proof
safes and buildings, and receive the
funds of'the citizens on deposit. paya.
bic on their checks, SO as TO save the
trouble of counting out and "toting >
specie in every trahsactson. This
would, We think, be all that is necessa.
~, and We should thus get along very
well without banks