Southern sentinel. [volume] (Plaquemine, Parish of Iberville [La.]) 1848-1858, 1851-06-14
Scarcity of Money---the Banking
system.

antcccdent, that money has been 50 scarce II
this vicinity as at present. Men whose pune
tuality in payments has hitherto been scrupu
lousy exact, are not only put to their verles
wits, schemes and energies to collect their due
that they may Iiquidate the dues of others, bu
in many eases they fail in their cndcavors t.
settle up debts incurred on the strength o
their business in former years, and frequent,
have the modification to find the bills of thei
creditors in the hands of the attorney or tbt
magistrate. Their pccuniary affairs having ar
rived at this crisis, they, in turn, are forced tt
similar measures for representation, howev
cr ~rcpugnant it may be to their feelings anc
thus the whole order of affairs assumes 4 con
t%entious and beligerent aspect; our worst pas
sions are aroused; and we sickcn at heart
from the state of things thus brought about by
human and Divine agencies.
To our minds, litigation at best, is apoor re.
, mcdv for any evil; and it is peculiarly distres.
sing to many men to have recourse to such
means for the recovery of debt, most particu-
larly when the plaintiff is aware that it is
through extraordinary circumstances which
prevents the debtor from being punctual; but
bending to the evil he cannot avert, if he would
save himself and his family from ruin, the suit
against his neighbor and friend must 60 on,
and his property is seized and sold by the
Sheriff to cancel the claim. If all were dispo-
sed to be lcnient and wait for better times there
would be no necessity for proceeding to this
extreme--but this cannot and never will be the
case in any community.
What, then, we would inquire, is there to be
devised to prevent this disastrous state of
things, which may naturally be expected to
our health and constitution! We would an
swer, safe and judicious Banks, the capital of
which TO be commensurate with the business
of the community in which each is established,
in which every good man, whatever his capital,
or his pursuit, can get his note cashed at 4 mo-
derate discount, whenever his business should
'"Co, '" "hy FSSNihoiy SAi@i s S4hiGs
funds which he cannot Immediately collect or
otherwise procure. The want OF such an in
s%titution, now more than at any former period,
is peculiarly felt in this community-by the me-
the merchant, the planter, all classes of
and grades of wealth. It is not only evil
dent to every citizen, but it is the topic Of gene
sol conversation md tbncn too ,rb,o
have hitherto thought but little of such in
stiIutions, or if they have given them a thought,
was oneof opposition, from the fact that cir
had not brought the necessity of
such pecuniary aid, and the idea had been con-
ceiyed that they were, Il species of monied arts
offering the fruits of their cornucopias4
only to chosen few. That this idea was not
ar from being correct in some instances we
will not deny: evils will introduce themselves
nto the purest and most useful institutions up
IN earth. Butthose same individuals, who were
90 violently opposed to Banks when Banks
are new their warmest advocates, since
hey have become nearly extinct, or exist only
n name. They now begin to feel their ~ncces.
only by those who would seek relief
their vaults, but by those who never
lreamt ofdoing so, for the enterprising, and
wen the wealthy, being thus checked in monied
lccommodations, the influx of specie or its
equivalent necessarily becomes scarce, and con-
equently retards and injures-rusts and cor
odes everySwheel and axle upon which re-
the various pursuits of civilized life.
We are then, decidedly-and we believe ey-
~ enlightened and unprecedented mind will
be-in favor of a safe and judicious
ystem of Banking, as one of the safest and
nost expeditions means of pecuniary prosperi-
Y to communities, and the surest method to
revent periodical s~carcitics of money, and con-
equently litigation ; and likewise, in asmoral
oint Of view, welding a beneficial influence
pom the peace and good feelings ofsociety.
That Banks will again be in operation in
his State, to meet the wants Of the people in
very section, there can be no doubt. The
one Of the Press Of. either party-the,s enti-
rents of communities, irrespective likewise of
unmistakable evidences of what
ill be demanded, This demand will be urged
t the next session Of the Legislature, calling
Or a Convention, not only to revise our Con-
in this respect, but for many other
Important measures.
As a public Journalist, then, whose Legitimate
uty is to speak Of and recommend acts tend-
e to the general good Of those among whom
IS paper circulates, we would strongly urge
pom the consideration of the people Of. her
lille and West Baton Rouge. the necessity of
eng scrupnlously particular in their election i
candidates forsthe next Legislature. Those
no are opposed tosBanks, ona safe basis, are I
'posedto their individual interests, othe ad-