Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1849-12-08

The Offering s upon new plan and is mad
up Of gems Of poetry from the best English and A
meriean authors, selected with taste and Judgment
for which Mrs Hale has gained 20 wide and 40 jus
fame. The work is for sale at the Columbus Boob
Store of u. c. Richards e. CO. All who wish ID
make rich, intellectual present to their friend.
should cali soon and procure copies OF the "Poet's
Offering"
AZ We cannot publish the long communication
signed 3D. ON the subject Of estate banks" without
accompanying it with our decided protest. There is
scarcely position taken by our correspondent that
We do not dissent from In 10 10. We give his com
munication, place in our columns, because he cx-
presses his views well aud boldly and because We
know he il an honest consistent democrat, though
erring greatly errihg, We must be permitted most
respectfully 10 say, on the subject Of banks and ban
king We are surprised, and we confess not little
mortified that In this our day and in this our demo-
cratic stale, one Of the atrue and faithful should be
found advocating doctrines and line Of policy so
Numerically opposite to the leading naxims Of the
democratic creed Bat az Cicero or some other am
Gent writer says there is no opinion however absurd
that will not find advocates, and the communication
Of ID has almost convinced US that there is no
democrat however true in theory that may not be
led astray in practice either by the current Of events
or by mistaken notions Of present expedency
Establish state bank with several branches oca-
Ted in the principal cities The idea at this time
and in this state is preposterous Laying aside pub
lie sentiment, which we contend is most decidedly
against such an experiment, how are we to com
mence such a plan--wbat Is to DO Our foundation
lorwe must have a real foundation, solid capital
to build upon. The days Of raising the wind by
kiting and coupons, are passed, and we thank hcav-
en- for it, 1t is true there Is surplus Of several
hundred thousand dollars in our state treasury and
the state owns magnificent domain in the five hun,
dred thousand acres donated to Il by the General
Government, which have not yet been disposed Of
but il il equally true that the state owes some three
millions Of dollars Tor the Planters Bank bonds and
te meet the interest and principal on this debt and
the current expenses Of the government, to say moth
ing OF what ought to be done for the great purpose,
Of education and internal Improvements, will require
every cent that the state can command oven with The
present high rate OF taxation. In order to becom,
banker, upon legitimate and honest principles, it i
necessary that person should have surplus capita
unencambered by debt and secured against contin
gences. Such is not the condition of the State q
Mississippi, and even supposing that the state BAN
system i goodpocy, she is not preparedto enter in
, 10 II.
But we utterly deny that the state bank system Q
indeed any system Of the kind eau ever be general
ly and equally beneficial to a community nneee
twentieths Of whom are agricultural in their pu
! suits. ltmay do and perhaps may be in degre
necessary where there are large commercial cite
II has at least been a concomitant Of such empor
i ums Of trade for century or two--thcy find II
convenience and il is right to suppose that they ~
derstand their own interest best. But here we hay
/ no nood-of there it is emphaticaiy monopoly
! Of the worst kind, the few the arga few being a
Il ways benefited by the initiation Of tho common M
: dunn or currency, while the Iaborug many alwa,
suffer.
The instances cited by our correspondent 10 mai
tain his argument in favor of the state bank syste
: are unfortunate ones for his purpose. Virgini
! So 18th Carolina and Alabama are now, and have be-
! for some years suffering heavier peeuniary emba
!. rassmens from their banks than from all other eau
! % combined. But want Of time compes us to c
: these remarks short. We may take up the sube
= again, perhaps in our next.
We deem this fitting occasion to lay before 0
: readers the views Of the Father Of his couatry
Q the emission OF bank paper as circulating me,
n UNI. They will be found very tersely expressed
i the following letter addressed to member Of t
e Maryland Legislature
Mourn VERNON, 10 Feb, 1887
r DsAR Sin,
: Your favor oflhe 30lh ultimo came duly
y hand. 10 give an opinion in cause OF so ma
! Importance as that which has warmly agtat
m the two branches ol your legislature, and whiC
H. from the appeal that is made, is likely to crea
O. great aud perhaps dangerous divisions, is rath
delicate matter, but AS this diversity Of opni
is on a subject, which has, believe, occupi
~ the minds Of mos men, and as my senlimer
ne thereon have been fully and decidedly express
or long before the Assembly either Of Maryland
ut this State was convened, do not scrnple to d
tie clare, that, ii had voice in your legislature
BIT would have been given decidedly against pap
n emission uron the general principles of its u.
i ty as representative, and the necessity Of ii
medium.
on 10 assign reasons for this opinion would be
r. unnecessary as tedious. The ground has be
he 90 often trod, tina; place hardly remains
touched In word, the necessity arising f.
want Of specie is represented as greater ii
ePt it roally is. | contend, thai il Is BY the 81
ry- stance, not with the shadow Of thing, we
100 10 be benefited. The wisdom Of man, in
humble opinion, cannot at this time devise p