Southern sentinel. [volume] (Plaquemine, Parish of Iberville [La.]) 1848-1858, 1853-02-26
ssShinplasters."

We observe that 4 quantity of one and two
dollar notes, emanating from private banks in
New Orleans, are being circulated pretty freely
in Plaquemine-taken, however, with a great
deal Of distrust. and passed off again as quick
ly as possible. Shall this influx of an unknown
currency continue amongst us? We trust, as
a matter of safety and of justice, that our citi-
zens. and particularly our most influential bust
ness men, will refuse at once, and decisively, to
accept of this irresponsible paper, in exchange
or in the payment Of dues. Give US banks,
safe and legally authorised banks, whose assets
and liabilities, and securities are known to the
public, and whose notes are known and honor
cd all over the country, but not those repre-
sensations of money which may not have an
existence, and the securities of which are known
only to the fertile and fiscal brains of Jacob
Barker and others, aud the unknown interiors
of their vaults. There arc tricks in all trades,
but perhaps the most dangerous that can be
played is this trick of brokers alias private
bankers, in giving origin to a currency which
represents nothing, so far as the knowledge OK
tends of those among whom it circulates.
The fact that those notes of which we speak
are redeemed when presented in small amounts
by individuals, is no security whatever to the
public that they are q safe and reliable medium
They are speedily passed off again in exchange
for large notes of responsible banks, at home
~ ,lra,j ar -, tba r,r.t,ca nc rr,1l and ell
ver-the original circulators thus making them
selves a medium for the introduction of a spe-
cies of counterfeit which often spreads ruin
and suffering in its path, if we may be allowed
to judge from the evidences Of the past.
Since the above was in type we have read
an excellent article upon this very subject
being 4 reply Of the New Orleans Delta to a
publication of Jacob Bankers, who took ex-
~ceptions at some previous structures Of that
paper upon his bills. In the course of its re-
marks-biting and sarcastic enough upon this
reverend banker lie. brokeer-the Delta says:
1--WE denounce this irresponsible system, by
which an immense amount of paper, purporting
to be valuable, but in reality worth nothing to
any person, save the ingenious individual who
issues it, is circulated amongst the people in
the stead of Il safe and reliable medium which
will always hold its position as an acknowledge
ed representative of value. We warn our fell
citizens against it."
And in another place, in abiding to the as
sertion that the advice Of the Press was not
solicited upon this subject, in connection with
the fact that in Washington City similar bills
had been issued and had proved worthless, the
Della says:
sit is true, the advice Of The Press was not
by the Washington bankers; but it
given for all that, and without effect. The
support the Press, and it is the duty of
the Press 10 keep watch over the interests Of
the public. There is q necessary reciprocity
them, and volunteer advice is often
more than what is absolutely required
from a writer whose means Of subsistence are
by his fellow-citizens, in return for his
and honesty. A large number of
hose notes, issued by private bankers in Wash
ngton, Con account Of the aforesaid "repug-
.nance,") were in circulation, not only there, but
in distant cities where bank notes under five
dollars were legal. But they began to appear
so abundantly in New York and other cities of
he Empire State" as TO excite the especial
notice of the New York Herald and some other
journals, which did not fail to "volunteer their
and warned the public against them as
Since this warning, all of these pirate
in Washington have bloon up, and their
notes are now scattered about among The roor,
who are always the su ferers by the failure of
shin plasters," to the great profit of the is
suers.
"We confess we would not be sorry if any
of them which may exist still in our
midst, should be blown after them. A torpe-
lo-augmentative, of course-whieh would
'end the whole system sky.higb, is a desider-
tum at present. As for US, we have volun-
eered our advice, and are DONE