The south-western. [volume] (Shreveport, La.) 1852-1870, 1861-11-06
The Lagislatnra-Tha paonla-Tha Banks


ton Rouge. Grave and important matters, Of course
win be brought before that body and hope will re
ceive mature consideration Unentangled as we pre-
they will be- by party shackes, their whole exe
tons it is natural suppose will be directed for the
welfare Of their constituents
! The sad and deplorable condition Of our citizens
has not been brought upon themselves by their own
imprudent conduct, but by designing politicians and
oiee-seekers-they arc therefore, to be Pitied, and
all the relief within the power Of the legislature granted
them By the action Of the State government and the
recommendation of the coton-brohers Of New Orleans
almost the whole entire crop Of cotton has been re-
tanned on the plantations. From the promises held
out the planters were induced to believe that either
the Confederate government or the commission mer-
chants would make the required advances to enable
them to lay in the necessary supplies Tor the coming
winter In this expectation they have been sadly dis
appointed Tae secretary Of the treasury states chat
there no constitutional authority by which the gov
eminent can make advances upon Inc cotton. The com
mission merchants generally, have much difficulty in
sustaining their own credit by renewal of notes.
quenty unable to render the required aid the plan
tiers and others.
We perceive By q notice signed by Mr.. Lusber, the
Confederate Sates' collector for Louisiana that he
is taking the necessary steps to commence collecting
And now, as our elections are over may daily ex
pec to see the deputies presenting their bills, but
whether they will get many Of them footed" is quite
a different thing.
The planters and the people generally, are compel
e to have supplies The banks, BY suspendng specie
payment have Withdrawn from circulation all the gold
and silver the community had for every cent has been
J tied up and stored away. Tteapauks having been in
s.rumenta in adding to the distresses Of the people
should be compelled to afford relief by advancing 70
the planters and holders Of cotton so on each bale
II they refuse to DO this wind them Up" general
jackson did the United States bank.
The New Orleans Merchants and Manufacturers
Journal" IA new, able and very independent paper
! says
Incidentally the whole banking system, as conduct
1 ed in this country, is gigantic fraud The numerous
! explosions, and consequent financial troubles which
afflicted the great Of the people for more than Il
generation past under the government OF the United
States we're traceubIe TO the innate corruption which
lies in the head, heart body ami limbs Of the paper
currency system, contded 10 the hands OF men who
never have other idea of life than make ill they
can and keep all they make
In Louisiana, il thought that the banking sys-
tenn was superior that 81 any other State Men eXut
mgv exclaimed "Eureka,n The secret Of securing the
people against financial fluctuations last discover
ed We laughed at the chin pa tiers OF the north and
west stamped feet and ubliated over the fact that
the lrlmera of our State constitution had hit upon an
ezpedent which would secure a circulating medium
free from depreciation and all the Ills that follow in the
! wake OF suspensions Of specie payment"
Suddenly under the pretenee Of forcing the Con
reirrate notes up to par value thu banks OF New Or
leans made an arrangement with the governor to call
on them for a suspension Of specie payments. The
Confederate notes were to be received their couu-
ters and agreeaby this preeonceTted plan came
the governors proclamation urging the necessity Of
immediate action. How much money made by
tine spectators who in the secret, IN buying the
Confederate notes below par, may be known az the
day Of judgment, That thousands Of dollars we're lost
to the working classes, by the operation, is beyond
quastiC-."
Every dollar Of gold and, silver was instantly taken
up in the vaults OF the banks. Specie scarce
that grocers maTkeneu in fact, ordinary dealers III
the necessaries and luxures of life, reduced to
all sorts OF cXpediens to change dollar Tor their Gus
toners. Bank notes we're mutlated to meet the de
mand for small change and the corporation went to
work and got hn-plasters to supply the pressing
wants"
The millennium so long looked Tor by the brokers
/ had at length arrived Gold aud silver we're sold at
exorbaHt rates by all those harpers who look out for
/ premiums. Pacards, announcing Gold and Silver
sold here Con5picuously paaded before the pub
liz eye aud brokers went home with rosy y,ceS and
turned their offices even roster with smiles than
when they sat down over their red fish and begfstea
1 y...vFr-# .-il -la - '.. IL ,st-- - l.,e- N
the of success that the brokers furnished
with enormous amounts OF hard cash TO sell Tor them
Joint speculation Nor even content with this those
institutions were turned into regular brokers shops,
where gold sold at eight to ten per cent premium
to the unfortunate indivi4qa Who had immediate need
| of itl'
LET the banks be taught salutary lesson. and
hereafter tie people may not be subject to the uunc-
Cesary Inconvenience which they have suffered since
the suspension Of our pet institutions Specus tion
may not be rife in quarters here it should be crush
ell ont with strong hands, and a legitimate business
transacted. What care the people if the whole sYs-
TEN tumbIes to the ground? Who benefited by bank
ing institutions? The Woodworking citizens Of New
I Orleans or adventurous SPECTATORS What man who
/ is not hand in glove with bank president get
good paper discounted and who that bends low and
in bondSman's key" ask accommodation for some
speculative purpose that is made the recipient OF
bank tavor5? If the banks, combining themselves 10
legitimate business, ding firmly by their charter
would afford all possible facilities to merchants and
mechanics, BY whose labor tile city hre,e ell ii would
be well enough. But the kissing by favor plan has al
ways been in vogue aud SO, these institutions have
on served to make the rich richer, and the poor
/ poorer
SO far as the Confederate notes we're concerned,
there difficulty in putting them in circulation.
Every day, before tho bnks suspended these notes
we're gaining in lblc confidence The army was paid
\ in Confederate notes. the employee in docyard-
and on Notifications received them at par value and
| Of necessity they would have been taken in little
while by all with whom officers, privatcS EMPLOYEES
etc. traded and thus be thrown into circulation But
so good opportunity fer speculation was not to be
lost by those who look the main chance and so
suspension and its attendant evils were inauguated"
The inability Of the people even to pay their taxes.
is candidy acknowledged BY the Natchtoehes Cbroni