Arkansas true Democrat., 1858-08-04
From the Nashville Union and American. Banks and Banking-Democratic Policy

assert that the system Is rotten In itself, and that nothing good can come of it. We doubt not they have succeeded to considerable de- grue in doctrinating with their notions the mas ses, who have nothing to do with banks but to use the notes they put in circulaton'
 "If they have confidence in their own judg- ment-as all doctors ought to have-and in their remedy, they should not hesitate to give the patient the benefit of it. We beseech them, we entreat them, we beg them to come up to the mark and give us practical exhibition of their skill. If this won't prevail we dare and defy them to attempt to apply their remedy.- They need make no excuses, the times are as propitous as they ever will be-"
 "Thcre has been wind and gas, and humbug enough, on the subject. If nothing Is to be done. why own np to be quiet, as honest people should. An incessant cry against banks, as rot ten, swndling shops, wherein contributions are levied upon the great masses to support few upstats, codfsh aristocrats who turn up their noses as better men than they can ever hope to be, can effect no good purpose. Letit cease and action takes its place"-Patriot
 We thank the PatrTot for its admonitory lan- guage We admit the force and justice of it's remarks The democratic journals have said much upon the evils of banking as illustrated in the policy pursued by the banks of Tennessee. Was there not ground for saying much upon this important subject? Will any one, in the face of the history of the last twelve months. assert that they have received a lick amss? Will any one deny that they have swndled, de- frauded and thus subjected to the grossest evils the general industry, interests and welfare of the laboring producing classes of the State2 Will any one deny that by their suspensions, frauds deialcatons and failures they have taxed the pockets of the people to an amount greater than the entire sum required of them to meet the ordinary expense of their $ ate government? We venture that the editor of the Patriot with all their partai,y for bank officials, will not finally deny this. It would be the most ri- dicult us absuIdty to do so now. when half the people of the State have in their pockets some of this rotten. worthless or Gepreciated paper currency, which Is a dead loss of portion of their honest labor, corrupty appropriated by a corrupt system to the pockets of few. Nor these charges against the general system be repelled by laying them at the door of par ticular institutions when the evidence is ample that all-some more and some less-have con- trbuted to the same result
 It is also true that to the journals of the de- mocrat c party is due whatever credit attaches from earnest and effective warfare upon these abuses. Notwithstanding it is question in which all are interested, irrespective of party and notwithstanding indignant murmurings have been coming up from the honest masses of All parties demanding some salutary remedy against the present enormous evils of the rag money currency-the democratic press alone have had to fight the battle whilst the press of the opposition have stood aloof with the most perfect complacency. On this they may anti cipate safety for their party, but if there is among the people that intelligence and sense of justice in which we have always confided these walters upon providence, and party pensioners will as certainly be condemned as the day of public reckoning comes round
 But there Is more material part of the Pa trot's remarks to which we desire to invite at- tentlon. It says we have talked much, and asks are we ready to act intimatng that we are not. We will say to our neighbors that we shall deserve their reproaches, and. for our selves, will submit quietly to all they may choose to heap upon us, if after having experienced and exposed the evils of the present banking system, we ialter in the least in our endeavors to root them out and apply the most effective remedies. To shirk it in the least would be a piece of moral cowardice foreign to the charac- ter ot the democratic party, whose only purpose IS to serve the country, and whose constant faith ever has been that in doing right there is no danger. We are free to confess that the re- sponslblllty resting upon the democratic party III connection with this question is great, and tha the difficulties attending it are serious in deed; but as the history of the country shows the democratic party, thus far, has proved equal to every emergency, there Is no reason to mis- trust 1t in the future. few may falter for tOA mo i,,I Of +l,.
 them, and in fear of the enemy in their rear: but when the hour comes the great mass of the de- mocracy-the sold people who have no prompt nSS to success only so far as success will bring material good with twill be found shoulder to shoulder aud hand in hand battling for pre- seryaton of souLd principles and equal rights. as they have always done from the earliest his- ;ory oi the government. Let the Patriot feel sure oi the, and nurse its wrath uuiil they shall have ialtered.
 One word of kindly admon;tion to our neigh DOT. The democracy will choose for themselves the plan ot their operations. In correcting the evils m question, which have been so long ac vumuIatlhS upon Jhe country, and which have become So closely interwoven with its various interests, they will put the patient under their o'0a treatment, and apply the remedies accord H'5 to th.r 0ton Jua5met, without going to those who oppose them, for counsel or advice They commenced the work at the last sess,on of the Legislature, and although they fell far short of accomplishing all that m the judgment of many could have been accomplished, Vet steps were taken, the good effects of which will be recoo- mzed throughout the State as fast as they have a practical application. We venture to assert that 70 rcto,nafo,y yeatare of the legislation of last winter on the subject of banks will be dis countenanced by the people. The only com plant will be that more was not done The entire democratic party with but few executions gre to0Alny in tte right direction on this question The principal difference between them is as to hotc tar they shall travel on the road of reform. and the speed at which they shall 90.
 All practical democrats recognise paper mo- ney as so many rags, valueless in themselves. and to be trusted only so far as they give evi. dence that they are the actual representatives. of real money. constitutional currency, gold and silver. All reform must be in he direction of a specie basls and must look to an increase of redt money and decrease of sham money - me farmer when he receives pay for his pro- duce the mechanic when he receives pav for ms wares, and the merchantmen when he re. celVes pay tor hls goods, want something as sub Stahtlal Tn value as the thing parted with, or at ies' 'hat whlch IS beyond question, immediately convertible. The democratic party will work to thls end. They may not go as fast as we would nave them, nor to the same extent We believe however, they will. Be that as it may. we will travel ID an unbroken column many days upon the same road before there is divergng point ol any practical character in party sense.
 Wewould not seem nsensbe to the fact that there are those of our own party who fear some division in our ranks on this question. We re. spect their zeal, bat think they over estimat, the number and importance of those who nav feel inclined to diverge from their friends or this subject. Those who differ upon inmate. rials are not divded-those who may desire from unworthy purpose, to lead of from thei party, will be too trihing in number to shake onl column, or give us any reasonable ground io alarm. There never was a time in the histor, ot the country when the democratic party stooC upon trmer ground with sure holl upon tn, confidence of the people. They have grea