Eastern times., 1853-01-27
TFrom our MI,.jsslppi Correspondenl.J
Banking in Mississippi.

In the same person or body polite more t'a'
Once This disease came 10 crisis IN Mis-
sissippi in 1886; about that time plan was
invented or borrowed, 10 base banking opera
iions upon murigages of real estate However
well this plan might operate in solvent com
munity, at time when commercial transac'
lions were founded upon specie basls-lD
Mississippi the Union Bank and other real es-
tate banks only aggravated the disease, and
gave a legal sanction To tho inflated prices
then prevalent.
Many amusing anecdotes are related OF the
kite flying operations Of those days. An M.
ID. in one Of our villages was very good ma
turcd fellow, but notoriously lazy. One day,
he and another gentleman. considered rather
indolent, were lying together under the shade
Of tree. AS the shade changed, some wags
bet on the laZiness Of the two-to be decided
by their movements when The sun began TO
shine upon them. When the sun shone upon
the last named, he crawled to a shady place !;
but when it shone upon our M. d., he was too
Like other young men, our M. ID. took it into
his head TO get married and go TO house-keep-
ing. The family Of his destined bride main
tained respectable appearance, and he was
anxious TO have a house fitted up in proper
style for her reception. How to raise the
means was the question. He told one of his
friends his situation. This friend had some
insight into the banking operations Of the day,
perhaps had become a director of branch
bank for the purpose Of managing some loans
for himself and friends. He told our Nj. d.
that the bank in the village was discounling
ninety day drafts on New Orleans, and that he
had better draw draft and have it discounted.
He replied that he knew no commission house
in New Orleans. This friend advised him
TO select the one most extensively known and
get the wagner, who happened just then
TO drive mp, to endorse for him, and it
would go down. Sure enough the draft was
discounted, the dwelling house purchased and
fitted up, and what was stranger still, the COM
mission house accepted the draft and sent our
nj. ID. very polite letter with price current.
&C., as though he we're an extensive planter.
About the expiration Of the honeymoon, the
draft matured, and as he had no cotton 10 ship,
our M. ID. supposed his kite string was brok-
Ell. Before he had utterly given up in despair
he was let into tine secret that he could take
up his first draft by drawing larger one
thus he progressed until in the last act of the
drama, he appeared in The character of Presi-
dent of the Union Bank Of the State of Missis-
siPpi, and in the last scene Of that act, as very
poor man with very rich wife.
A singular episode in The transactions of
that day, was the advent of Shocco Jones'
BY some he was supposed to be government
agent inquiring into the business of the post
Office department. In this character he was
duly feared and reverenced by post masters,
mail contractors, and others who wished
share Of the loaves and fishes then being dis
tributed by Mr. Van Buren, and his Cabinet
Our members of Congress had seen him in and
about the White House, and gave credit TO his
pretensions. Among others the distinguished
Prentss had met him at Washington, and as
sisted in giving credit 10 him, in his other
character, that of agent for the Cape Fear
Bank of North Carolina.
At the time of Shocco's arrival, our banks
were damned up and about being ''damned
down. The North Carolina banks were sup
posed to be solvent.
For several weeks, perhaps months, Col.
Jones maintained the character of fnancer,
and went about promising to relieve the dis
tressed. In one instance, he actually saved
gentleman's property from being sold at sher-
iff's sale. Wherever he went, he had an i'm
mense bundle of paper that he deposited with
due ceremony in the most fashionable bank
In Jackson the banks were in such bad odor
with the democrats that he made his deposit
with the receiver of the land office, and it is
said that functionary (although fond Of sleep
ing, particularly with distinguished men) sat
up all night guarding his iron chest and its
precious contents.
The.Colonel made his deposit in some bank
in village in the northern part Of the State
and soon had his applicants for loans. One
case he undertook TO arrange Immediately
The distressed individual expected TO have his
property sold next day on an execution, in fa-
vor the bank where Shocco had made his
deposit. Colonel Jones went into the bank,
claimed a private audience of the president.
and told him he had several thousand dollars
in their notes for which he wanted the specie.
This frightened the president and cashiers, and
the directors were sent for, in haste. Finally,
he agreed to take judgments against debtors,
aud examining their list came at length to that
against the gentleman, whom he had promised
TO assist, and succeeded in getting the officers
Of the bank 10 postpone the sale, and the sher-
if had TO levy and advertise over again /; and
although Col. Jones had left for parts un-
known, the distressed debtor made arrange
ments to get fair value for his properly.
In the vicinity of Natchez are some remains
of the Spanish rule before the recognition Of
the line between Georgia and Louisiana
Some of the nabobs try to establish an aristoc-
racy upon the antiquity Of their places, as well
as of their families. Some of these individu-
ais are vulgarly called ''swell-heads.'' 1t is
said that Prentiss was not received into The So
ciety of these would be-aristocrats until intro
duced by the distinguished financier, Colonel