Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1852-06-05

new constitution for Louisiana, will te
called upon TO disensa q variety Of bai1s-
ing OF fis uoial systems with d view 10
incorporate the same into the new instru-
meit. Laying aside all party, and pr.
vate predictions and taking a calm inn
partial survey of the whole subject Of
6nance ; / am of the opinion that the only
fair and truly democratic way Of dlsposing
Of the whole matter is to leave it with
the legislatures and tile people. The con-
stitution isa charter Of positive rights
and geaeyal principles, and Is tie tasis
Of all legislation and the ultimate boun-
dairy of legal action. The constitution
should not legislate because its legislation
is always incomplete, and consequently
unsatisfactory, especially in this age OF
practical and progressive improvement.
Hence, questions that may aria this year,
will have no weight or Importance the next
and What may be just and proper today,
one year hence will be the very reverse.
And money is just as much n thing Of bar
ter and sale-a matter Of commercial
speculation as any commodity that enters
into the ordinary affairs Of life. It has
ever been d matter of Legislative warfare.
and party strife to regulate "Metanhs,'
when the safety Of the community, and
the public necessities did not iii any way
require such intermedelling, and the whole
subject could have been proftably disposed
of by simply making Bank deposites with
the people who are to use their notes,
~(bankbilis are notes Of hand,) security for
their ultimate redemption.
Banking Is a business, legitimate, proper
and honorable, and as necessary as mer.
chundise, farming or steamboating. The
banker mikes his money out of his money,
Just as the farmer makes his out Of his
plantation, and since the planters note Is
safe and negotiable when properly secured,
why should tile bankers be less safe and
reliable. The matter resolves itself into
this simple arrangement, make the Funk.
er secure Ivy pledge actually Deposited
his notes. just as the farmer, merchant or
mechanic make their notes negotiable, and
you place them where all these classes
should be, on an equality with each other,
and the only difference in these two posi-
tons will be the law creating the necessi.
ty 0 flhe bankers pledge before he can offer
notes for currency. No law Gun be passed
prohibiting a man from giving his nutes
in any amounts and in any numbers, nor
can the legislatures pass q law restraining
any individual from taking those notes If
he chooses In exchange, for his value
r~ecieved--thei, why should the banker
not have the same priyiledge, to sell, and
circulate bis notes? The only difference
between them will be, the one is a private
affair and confined to a private transaction,
bankfiotes are of such publicity that
hey enter mole generally into. the every
lay affairs OF life, and hence they are In a
matters Of public concern.
The late law Of Delaware, and d SINH.
one OF Pennsylvania, are unconstitu.
ional, unnecces sary and based on a big-
TRY as dark as it is snti.democratic and
destructive. These Delaware aud PEN
ylvatia laws prohibit the circulation in
hose States Of the banknotes Of other
under a penalty; yet If a citizen
f Louisiana goes into either Of those
with a note Of hand; endorsed BY
OF those States, would there be a
ar raised against their collection by regt-
n process of law? And yet n note il
arried there is indictablc, while the other
promptly paid, or regular steps taken TO- !
o!lect them in accordance with law. Il.
Pennsylvania would certainly complain !
Louisiana were TO bar by Legislative |
nactnlent, the collection Of all notes
her borders except those Of her 2
wn citizens, to her " citizens. And
ct such a law would be just as right and q
roper and as constitutional, as her "biue 9
w " relative to the circulation Of foreign =
Observation-Disclosures, philadelphians :
nd Baltimorians, hold annually the notes !
hand of Loaisianians to vast ~ainounts,
I'd should we pass d law making null !
i'd void all such obligations--such q :
tout of fury aud Indignation would 90 4
. from those states, as would b Z posi-. /
vely awful,' yet tlIey never stop to ask d
Wv far they injure Louisianians and poo !!
. Of other States by the passage Of laws =
sndering worthless our banknotes within !
leir " holy borders." This TO illustrate }
g folly Of tile eternal tinckering of our
lanciaI system, and 10 show how easy .
ey can be let alone 70 the advantage Of !
| concerned. 4 will pers1e this subject ]
mother article, and try not bore you. 4
MARQUIS. 4
~ K
Tie noblest quality w1ierewith nature 4
Is endowed woman for the good Of The y
orld is maternal love-tlat@ love which
eks no return. Itl
s