The Yazoo Democrat., 1853-02-09
The CurrencY Q.uesffon.

IL seems however, tnaI our TREND walker Ot I
the Sentinel, thinks that our opinions were not
well matured, or we would not have expressed /
the belief that banks at home could afford Us an
antidote. Now, the Sentinel is thorough GO
ing democratic sheet, and its editor an unfinch /
ing devoted democrat, and fights the enemy of
democracy with strong arm and ready pen, but
we claim to be of the same color, dyed in the |
wool to the best of our abilities--of which we |
claim no great deal-and as freedom of opinion
as well as liberty of expression is one of the
great principles of democracy, we are free to
differ with our cotemporarIes about matters Of
expediency. Our friend of the Sentinel, we
know, would not wish us TO express ourselves in
any other than candid and honest manner
The views expressed in our article of last week
were candid, and not as he supposes, furnished
the printer to hush his or the " DEVILS" howl
Sometimes may furnish extracts to hush the
cry for copy, but never editorials. But to the
point in question.
An article upon the same subject, headed
g Banks, Bank Notes &c, appeared in the Sen
tinel the same morning that our article came
out at this pace, the very first paragraph Of
which declares the same great evil to exist; and
that remedy is matter of serious reflection
Our State is being overrun with the shinplas-
ter currency of the old wormeaten banks of Loui-
siana, and the mushroom concerns of Tennessee
and Kentucky, and unless some protection can
be had we are likely to suffer greatly from it.
1t is matter of serious reflection, how the in
flux of their filthy rags into the State is to be
prevented" This is exactly what we contend
But our friend suggests one plan, and we sug-
gest another, by which we may drive,thi foreign
paper from our State. We propose the estab
lishment of banks in our own State but he
proposes g that of requiring every man in the
State to disclose under oath to the tax collector
the amount of paper money received or passed
BY him within the State during the year, and tax
him upon every dollar" 1t must have been a .dev-
iPs howl for copy" and loud one at That, that
made our friend propose such an absurditv. We
know printers are very annoying sometimes. but
we should judge that the Sentinel must have
several "d devils or one mighty devlish one; or
| that friend Walkers sensitiveness has become
somewhat refined by his recent visit to Wash
ingtou, where $ back woodsman" sees so many
new sights. Why, just think of man whose
business requires him to handle money, taking
three hundred dollars per day, let alone those
who handle ten times the amount--and many
even ten times that-having to keep an account
of every dollar. so that he would be willing to
make oath TO the amount of paper money that
he had possessed during the year Who would
do it /? Would any one do it? We don't be-
lieve Mr.. w. himself would Even if the cid-
zens of the State would do so, what an advan-
tage we would be giving traders and other per-
SONS who might come nom other States, TO han
die and circulate as much paper as they pleased,
and pay no taxes But the Sentinel would say
no person would take it if such law existed
Oh, that won't do, for what editor would refuse
paper money for subscriptions As much as
our friend Walker hates paper, we will bet a
sovreign that he would not refuse Louisiana pa
per for subscriptions the Sentinel, as popular
paper as it isl We would be willing to take the
paper of almost any of the worm-eaten banks
for subscriptions due the Democrat, and pay
tax on it in the bargain. Unless some better
mode OF getting rid of the rags from other States
can be adopted, we think its circulation will not
diminish c.;a.ii much.
Then if we are to have one of two evils, let us
choose the least. If we must have paper cur
rency, we say let US have one of our own. But
it is contended that by establishing banking
system, we have to give up to the State two dol
lars for every that is issued in paper.
We will be satisfied if one dollsr capital shall
5e pledged for every dollar issued, It is admit
ted that the banks of some of the States are good
and secure. The Sentinel says, that the curren-
cy in Ohio and other States, under the free bank
ing system is good, We do not propose in this
limitedarticle to enter into discussion as to the
manner and system of establishing sound banks |
that is matter that can be determined after
the question of banks or no banks, shall be set
tied. The time has again arrived when this ques-
ton must come before the people for their de-
cision. We will agree with the Sentinel, that,
if we could ge; rid of the paper of other States
and have an abundent supply of specie, it might !
be polite in us not to have any banks in this
State. But there are some advantages in having
banks at home, that ought to be considered in
deciding whether it is better to use the paper of
other States, or that of our own--for it is an in
disputable fact, that while there is any paper in
crcula ton in the United States. we must admit
a share of il into our own. The advantages of
loaning from banks, OF which we spoke in our
article of last week, is of no small moment to the
commercial, as well as the agricultural interests
of our State.
As we have before shown, all the profits and
advantages of loans and acceptances, are enjoyed