The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-05-20

| RUuVb - WEI 2Pe anu Mosiu6Ss'~s 80
BANKING srAT.sT cs---LEvYISc BLACK NAIL.
There are more than nine hundred banks in
the United States, with capitals Of from . hum
bred Thousand to upwards of million each
or these about $40 are in New England; 800
in the Middle States, including Delaware and
Maryland 1919 in the West and South west |;
and 100 in the South, including the District Of
Columbia. In looking over corrected list or
the prices of bank notes in New York, find all
these, with the exception of notes of the city
banks, at discount of from quarter to hive
per cent. Who pays this enormous amount OF
depreciation 1t must come out of the pockets
of somebody. All these notes were originally
issued at par by the banks, and are circulated
and bought up by the agents of these banks, at
discount Of from one quarter to five per cent.
On whom is this black mail levied /! From whose
pockets does it come and in whose pockets
does it centre at last These questions are Of
the highest interest, but involve train of facts,
reasonngs, and deductions too long to be intro
duced here 1t is certain, however, that this
scheap currency" as it is called, is rather dear
article, and that after shutting up some fifty or
hundred millions of specie in banks, we are
paying millions annually for apaper substitute.
We are certainly growing rich very fast. The
States and the general government borrow mo-
ney, which becomes the representative of bank
notes, which circulate among the people, who
| first pay the interest on the money borrowed by
the government and next on that borrowed Of
the banks. Who can doubt that this double
payment of interest must greatly conduce to
their permanent prosperity? In old times the
feudel barons levied black mail on the peasant
ry, by means Of a charter from the king; in
modern days, and especially in republics, the
rag barons levy it on the farmers and laborers,
by virtue of acts ofincorporation. Aroad may
have but one end, but there are many ways of
arriving at it; and though the sole object of all
modern governments is to get money from the
people, there is no end to the variety of means
resorted to for its attainment
remember the time when the militia Of the
OnlleQ OtaleS was toasVeu at PuuilC atii'cISa-
res, as "The cheap defence of nations, &C."
but regret to see an indsposilion on the part
of Congress to exercise its constitutional pre-
rogatve, "To provide for organizing, armng
and disciplinng the militia, &C." and some of
the States gradually undermining the whole
system, by committing fines for absence from
trainings, until they become entirely insufficient
to secure the attendance Of any but mere beg
gars. The usual pretence for this is, that these
trainings occasionally give rise to frolicking and
tipping, and that the mere rudiments of militia
ry discipline acquired, are of no service what
ever AS to frolicking, if that is an objection it
will apply to all public meetings. especially to
elections, where We may see it every day exhb-
tied and if the simple man@uvre usually prac-
tced do not make soldiers, they instruct the cit
zen in handling his arms, forming line, wheel
ing to the right and left, and other rudmental
tactcs which may be serviceable in sudden
emergencies Another and very important re-
suit of these general musters is, that they obge
every man to keep gun, &c, and hence the
nation may be said to be always armed for self
defence.
The only substitute for an armed militia is a
standing army, and this will be the result of an
abandonment of the old militia system here as
has been the case in England, and indeed all
parts of Europe, where the sole reliance for ma
tonal defence is standing army and navy,
which are quite as often employed against their
own people, as against foreign enemy A
hireling military standing force, is blind and
irresistible instrument of oppression. Its officers
f are the slaves of the power which appoints, pro-
notes, employs and pays them, and its privates
the slaves of the officer. Both are governed by a
code entirely different from the civil laws, which
latter they do not recognize as the rule of their
conduct 1t is sufficient for the subordinate if
he obeys the command of bis superior, without
enquirng into its legality, humanity or justice,
for he feels no responsibility for his acts, pro-
vided they have the sanction of military laws.
II may be said that the vast extent and growing
numbers of the people of the United States,
render it impossible for them to be subjugated
ny II SIiuihH bus ftNEit NisuVUb az w >
and without the spirit or skill to use them, are
equally defenceless, however great their num-
bers or the space they occupy, just like pack
Of sheep, which is equally weak and cowardly,
whether composed of tens, hundreds or thou.
sands If the people the United States grudge
devoting three or four days in the year to mill
tary training, the end will be that they will have
to pay countless millions for the support of a
standing army, which, as in all past times, will
eventually be employed in their own subjuga-
ton. Those who require protection must have
master; and there never yet existed free peo-
pie, who had not the spirit and energy to defend
themselves. The French republican govern
ment has adopted an admirable substitute for a
standing army, by enrolling portion of the cit
liens of Paris, arming and holding them ready
for service on all occasions, under officers of its