Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1849-12-29

liiion. which by the way have no difficulty IN
getting a. NAV be sill further iuslraied--len
men being on board OF ship which is about To
be wrecked at sea, one Of the number has ten
bales of cotton. which he proposes TO se.l--a bag
to each OF his nine companions, BY which to en-.
able them to reach the shore, or to float until
they may be picked up by some passing ship,
eighiof them at once pay the price demanded
ten dollars and belake themselves together with
the owner and the remaining bale 10 The ocean
upon their frail chances Tor lie but the other
refuses to buy bag upon the ground that he ls
utterly opposed to that species OF agency in such
cases and vaun,ingIy declares that he is ready
and able to buffet the waves aud winds and save
himself and accordingly plunges into the water
But after while, he begins TO fad, and Finding
that he cannot stand ii, be makes for the man
with the extra bag and proposes to pay him the
ten dollars for it. and thus save himself The
owner however, refuses 10 Jet him have 1t at that
price aud in the exact proportion Of his necess-
ties, demands ffy dollars for it, which the 9th
er compelled now 10 have it, reluctantly pays up,
and takes possession of it. Thus while You de-
cry state banks as utterly useless and oppressive,
you are at the same time, like the man at sea,
compelled to take the floating rag, and pay your
neghbor much higher price for it than that
at which it could be had on board your own chip
of state GLOW we apples swim think you
will admit, is not inappropriate, as quotation,
Just here.
But must devote liule space, to the letter Of
the venerable father Of our country, which you
have brought up against me, and the "untoriu>
nate" illusions in my former article TO some Of
the banks Of our neighbourIag states
Gen Washngons letter here alluded to, is
dated 9th February 1857, and fully concur IN
all be says, as general rule, against paper mo-
ney issues. The system is undoubtedly wrong
upon princip le-thal is 10 say, when 1t Is taught
thereby to make II a source Of wealth to The
nity at large. Aad there i some danger
admit under toe most favorable circumstances,
that the representative wtI become the resiioary
merely OF the genuine substance, in the hands o
The people. Bu do you not handle II daily
haps not dairy, but occasionally! And would
you like It, Il deprived Of it. use entirely. And
moro than alI, did not President Washington sign
the charter Of United States Bank, after he
wrote the rurr rb,chruo buv, errun= "p"" n,c?
Certainly he did, And IL doug 50, as did Mad.
ison after him under similar cucum, lancrs, he
was undoubtedly Influenced by the same or some
of the same reasons which now urge N favor
Of the establishment Of state bank with suit.
able number OF branches, The general state Of
the country, and the want Of convenient circu.
alinr medium, together with the necessities Of
commemorative merchant and the planter trad.
inc with each other, were the main consjdera.
lions which influenced The great and good Wash.
ngon to gna charter Of a bank He did not
believe that it should be perpetualed and made
permanent--neithcr do |. And | have often Civ.
en- my voice through the ballot box against that
very institution which Washington gave his sane
ion to-, and Shall ever be ready to do so again,
as long as the effort shall be made to re establish
| National Bank. But what Washington once
, Welded to from pecessiiy for the benefit Of the
United States, would now do under similar
necessity for the good Of this State. The time
will come when even in the States, the necessity
? for such institutions will no longer exist; and
! then aud not Ill then should we abandon them
. and not now wildly and craziy throw ourselves
. into the ocean of uncertainty, without bag OF a
II rae by which to save ourselves from sinking &c
u the bottom of civilization aud general inteIIi.
! gence.
st But it seems that was wholly mistaken il
d SAYING, as did, in my previous article that Nir
, ainia, South Carolina. and Alabama "each have
1t their banks" and that they are well managed
ID and YOU say that these States "are now and hay'
e been for some years suffering heavier pecuniar
/. embarrassments from their banks than from al
other causes combined" Wen, have some &C
/ quanancc with the Alabama banks-that il
u Mobile. for instance and know that It has Eur
= nished currency for that State and large poI
, ton Of Mississippi also, for many years past; an
f, nave never heard a word either against II
u soyency or its bad arrangements Aabams
Ut ike Mississippi, some years ago had her Stat
% .anhs, and through that mainly, together vii
m the wild sppculatlons Of her citizens she has bee
- involved in pecuniary difficulties But obsery
u through tie papers that her late Governor, Chai
o. man, full bIooded democrat, in his an ual mes
gu sage 10 the Legislature recommends an ncrea'
er ofhe banking capital Of the State: and the State
i. Bank Commissioner, +. 5. L,cn, Esq, has r.
Il. Gently made very favorable report OF The COZ
~ dltlon Of the funds Of The cd Stale bank wh ch
~ nrncp.s al final IiutldarlDn