Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-11-26
SOCIETY. As AFFEcTEp By sAEKs.

HE Eagle il fond OF working upon It's Idea.
OF rather upon the idea OF the New York Tri-
base, that banks and civiLzaliol, and hard
money End bsr6sTisms go together 4 ssys
IN its issue Ct yesterday that the Asistic tribes,
the Crow aaa Csmanchs Indians have 10 banks.
We confess that we are bat at less how
% understand this mode Of reasoning. Our
neighbor must be a little more specific. We
Cannot tell whether be means that banks are
the necessary result Of civilization, or that
civilization Is the necessary result Of tie es-
Enlistment OF banks. II be means the former,
then We mi-ht answer that the most refined
rascaiity, TIE shrewdsss tricks Of trade, The
most subtle chicsaery, TO say nothing OF tie
lower oEdsr Of vices, are always found in their
faiIest Development in what are cs}td he
most refined, enlightened and civilized commu-
mites Nay not the trick Of making pictures
on paper AID calling it money be ore Of thete
refnements.
On the oihsr hand, if our neighbor means
that r5Izstion is the result Of The establish
m5nt OF banks, then We recommend The plan to
our Missionary Board. They have for many
years been eRissToring to civilize the 81 Asisic
tribes" as well az many tribes Of the Indians.
They have spent years Of sssiiuous labor and
toll, and millions Of money in the iaudahls en-
~terpTiss, bat the idea Of our neigh5or seems
never to have struck them. Just let thfm es-
tabllsh a brood Of shinplsster bsnks, and civil
izstion st once springs out like Minerva from
the brain Ct Jove. We care not which horn Of
the dilemma our nsighbor may take. HIS pre-
misses are defective and Of course his Arguments
are worth nzught. California and Texas, and
some two or three other States, have no ksnks,
yet this does not argue that their citizens are
bsrbsr5sBs OF savagss like The Gross and Ca
msnche Indians. We observe That Oregon in
her new Constitution, also, has prohibited
banks, and We look WITH hope and eKpecis-
ton that most, il not all The new Territories,
will embody the same principle il their Con-
situtions. In this event, the tine ia not Far
distant when an anti-baBk wave viii set in
from our Paeiis coast that will, to soma extent,
oouuteract The hank sentiment Of he Atlantic
states.
No, our neighbor must seek other reasons
and other before he can convince
tue people that The absence Of banks presup-
poses a state or condition Of barbarism. Gold
and silver is the ouly currency known to the
Constitution Of The Uaited States, and TIE onIy
ons known to its trainers. Our nsigbbor, We
presume. would hardly call them a set Of bar
bsrisus. The States are expressly prohibited
~ the Constitution from issuing " bills Of
crsdit,- ard It is bslisrsd BY msay, Il not By
most Of our learned jurists, that the issuance
II hank notes is . violation Of this clause Of
The Constitution.
As evidence Of this fact, We submit The fol
lowing extract from the "Federalist" a book
written before The states mad acted upon or
present Constitution, and win The view or pre-
vsiling on hem 70 accept It. Nos, Of The pa
rsrs we're written By Madison and HAHrLTos.
I. has always been regarded as the best con
,emuorzueous construction Of The Constitution
row extaut. Ii he forty-f0urih paper win be
found tie following extract, fron which it viii
.,pesr that the States, as Understood By the
writer. have nc more power to issue or author
f1s he Issue OF bins Of credit or bank noles.
than they have to coin money ard regulate its
value.
% Tn addition 70 eure5 prtaaaslhe Coltl-eTH- !
go n nav be observed that the same reasons
,-birb snow The necessity OK deEying 10 te
Csase- ~ poteer Of rsgHl0iisg ooia, PROF. ,sitt
- ferDs fkat fhey eEght not to Be q iibsrfs 10
.a1bsf;fn.s a papT msfisn, "a the p ace or coia
~ everv safe a right 10 regulate he value
- = coia. there might be as many different
~,rrsrcies ~ States; and thus the intercourse
~-ong shsm would Be impsded Tetr8s pectiye
-its-siions ia is Faius might be made, and thus
80 citizens Of oh4r States BE- Injured, ana ami
1-o.ifies h kindled among he States them
49,. me subjsc Of foreign p9@eTs might
- e-am The ssuae cause. aud hence the Uaion
=. Fssrrsait.d zad smbro let BY the indiscre-
80, os : singie member. No one Of these mis-
csls6. Il fsss incident to- Porer IL fAe &Gfes 70
80 pa.er moasu thaa 70 cola gold aad siiueT-
re eevVrr 10 make anything but gold and efiver
: te6dsr IL payment Of debts u NithaFsWn
from the safes, on The same prizeFts Slh thai
Of isssing a paper ~esrrsney
IN, srSroS.-Col THeHAs r. BENroE
.,.hifshes a long communication, in a Wash
i,s,o, naoer. On tia banks and the currency
T. !. ses.rnes to meet the suggestions in favor
- =. .sesbHshmeni Of a national bank, which
49,. .nn.sr-a in the public ~JOurnals since tie
eonmerrensnt Of the existing financial revsi-
,;on Tn. Colonel sill eherishss bis ancient
eTmitv 70 bank notes, and Warmly adVoestss
fbs niat drop +" currency