New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-08-21

notes would be in the proportion Of the Whole cur
rency in existence minus the s. 200, ,0o0, 900.
think have demonstrated that this ia losing
transaction to the Confederate Government. Bat
this is not the only evil. They are numerous.
First this gives to the banks a great influence II
not controlling power over the Government.
Whenever the Government necessities increase,
these banks viii have become the Rothschil6is on
whom you will be dependent, and they will, in d
measure, be the arbers of the fate Of the country.
Again sir, banks must have their Presidents, their
Cashiers, their Tellers, and other ernpioyes and
their costly banking houses, etc.. ETC., and they
WithdfaW many persons and much capital from
the productive pursuits, and make them unpro-
ductive parasites, drawing their sustenance from
the body polite, without adding anything TO the
common wealth. To enable them TO do this, while
the private citizen is restrained by usnry laws
from getting the market price for the hire or inter
est OF his money, these banks are allowed TO get
three interests Of six per cent. ssometimes eight
per cent, believe3 on their capital stock. They
lend three dollars for one, or, after lending the
amount equal to their specie, they lend on their
bills receivable until they have three dollars in
Circulation for one in specie Originally: but as
specie is drawn from them on the notes. it il very
uncertain how much remains.
Ihis financial scheme greatly increases the in
Huehce, the power and the numbers Of class of
Ilo.zens already an fnpe'aa IN b9per1o, whose
ieahing principle is gain, and whose scruples are
hol restrained by strict Justice. Their wealth and
prominence IN business transactions give a false
.asIre, ana their example gives the public sanction
" ni'"y uUStS VI GtshoHeaby. fnelr 0Tn'SSnSe OF
Tlght and wrong thus becomes perverted and they
nave no correct moral standard. for mercantile
usage becomes law. .
The revolution now in progress is not IN resist-
ance to usurped authority Of the United seates
Government only, but in resistance also to the cer
ruptions and immoralities of the Northern Deonla.
trust our own corruptions and ifnmpraIities win
also be overthrow, and that the Confederate Gov
ernment will not be the Government Of cliarles
and combinations Of classes but Government
eeognizing the authority Of the whole people.
The lawyers have an undae influence in this
Government; this measure is sure to give an IN
due Influence to the banks and merchants and
think the public mind is becoming excited and
jealous of both. The politicians have been forced
to recognize the power Of the agricultural interest,"
the true basis of the wealth of the country They
have said that this Government is the planters
Government, and they have appealed TO the plant
er5 to come forward and sustain the Government
by loans. We are not willing that these loans
should enure to the banks, to enable them to lend
small portion to the Government, and place the
Government in subsection to them. You, sir, be-
long to the planting interest, and TO you appeal
to maintain the equality planters rights To do
this, you have only to maintain the independence
OF representative government.
am, with high esteem, g