Newspaper Page Text
//
//
$ iX)tfkIq ^amilq JSrtHspajjfr—JDnnrtti to ijrt Svkttrts of tjit j^atimml fnvrratir flirty libratart, ijif 3Karkfte y foreign auk Danitsfo )hm t %x.
wm?*
BY JOHN R. BICE.
hi Ike Vital er
Mt of tt.”
BBMf. F. BHNNFTT, FeMtetetr*
VOL. IX.
CA89VILLE, GKO., THTJ®SSWA.TT,' 3AN. 7, 1858.
NO. 48.
fienetyl BdbeHfeeffieifite,
THE STANDARD,
t> rviUMcii ttrir Thursday hoir'o.
Trri9 : Two Doltare in sdvancvv Two Dol
lars and Fifty Cents if payment Is delayed six
months, and Three Dollam, after tbeelplfallon
or ttte year.
So piper discontinued Until poll for, except
it the option of the Proprietor.
MiscdluneoUs Advertisements inserted at 91
p<r square ftwelve lines) for the first insertion,
and 50 cents for each weekly et; nuance.
Contracts for advertisements by the month
or year will be made at flair rates.
STANDARD JOB OFFICE.
The Proprietor of the Standard announces to
the citizens of Cherokee Georgia that with
“Oar Ben” at the head of this department he
are prepared to do ail kinds of
Plain nasi Fancy
JOB PRINTINGS
In the best style of the art, and in “double
quick time."
Attention will be given to printing with
ncatnes and dispatch, all kinda of
Circulars,
Blank Notes,
Blank Protests,
Basiaess Cards,
Programmes,
Handbills, Ac.
Blanks of all kinds, snoli as Deeds, Mortga
ges, Magistrates' Summons and Executions,
Summons of Garnishment, Attachments, and
all Blanks used by Sheriffs, Clerks snd Ordina
ry s, always on hand.
* We respectfully solicit the patronage ot the
public, with the assurance inat all orders will
be promptly and faithfully executed.
JOHN H. RICE.
Cassyille, Ga. Proprietor.
Laws of Newspapers.
1. Snbserilters who do not girc express no
tice to the contrary, are considered as wishing
to continue their subscriptions..
2. if subscribers order tlie discontinuance of
tlieir newspapers without settling all arreara
ges, the Publisher may continue to send them
until they are paid for.
a. If snlwcrihers neglect or refuse to take
tlieir newspapers from the offices to which they
are directed, they nre held responsible until
they have settled the hills, and ordered a dis
continuance.
4. If subscribers remore hi other places with
out informing the Publisher, and the newspa
pers are Rent to (he former direction, they are
held responsible.
5. It lias la-el) decided by the Courts that
snliscrilKTS refusing to take "tlieir newspapers
from the oftiee, or removing and leaving them
uncalled for, is primu fueit evidence of inten
tional frand.
ti. Tlif Courts have also divided that a Post
master who neglects to perform his duty of giv
ing reasonable notice, as required by the Post-
Office Department, of the neglect of a person to
take from the office newajwprrs addressed to
hiui Haulers himself liable for the subscription
price.
J. W. & E. C. HOOPER,
ATTORNEYS AT LAW,
Cassrille, Bee.
W ILL practice in ail the counties of the
Cherokee Circuit.
Oct 9. 1856. *<*—l.V.
JOHN n. «cr..
J. II. A A. n. RICH,
ATTORNEYS AT LAW,
Cassvillc, (ieo.
W ILL Practice law in the counties of
Csss, Goanos.
Catoosa, Floti*.
WnrrriEt.n. Picxkns.
Also in the U. S. District Court at Marietta.
Oct 9, 1856—ly
M. J. CRAWFOIll),
Attorney and Counsellor nt Law,
BINGT.OLD, CATOOSA GODSTT y GA.
W ILL practice in all the counties of the
Cherokee Circuit. T
Particular attention j»aid to the collecting of
money, and to paying over the same when col
lected. >«h 19, 1857—ly
Wofford, Crawford ft Howard,
ATTORNEYS AT LAW,
CaSSVILLF, AND CaBTF.KSVILLE, Ga.
W I1.I. faithfully attend to any business en
trusted to tlieir care, in any of the coun
ties of Upper Georgia.
Wm. T. Wofford, J."A. Crawford, Cusacille;
J. A. Howard, Cartersville. Jnly 23.
W. V. WESTER,
ATTORNEY AT LAW,
CAT.HOUN, GEO.
W
IIX practice in all tho counties of the
Cherokee Circuit. Particular attention
|»aid to the collection of claims, and to prompt
ly paving over tbo same when coll
‘ Nor 26,1857—ly
V. H. LEEKE,
ATTORNEY AT LAW,
AND CRXKRAL COIXKCTtSr. AGKVT rOU
Cass, Floyd, Polk.
Paulding, Gordon, Catoosa,
Murray, Gilmer, Fannin,
Walker, Dade and Whitfield
Counties.
B USINESS entrusted to my care will meet
with prompt and vigilant attention, and
monies pud over punctually.
Return data 2n days before Court.
Office in the Court-house, upstairs, Cass-
vHie. Ga. . . ^
I3T Magistrate's Courts, in the county reg
al arty attended; Jnriadiction alter 4th March.
95*. Jaa 15,18*7—tf
VlOBi6NllLVrS of Produee always wuut-
If at, Kudoowkieh liberal adraifoes in cash
5^"*' -, *77f
>EAOO,
TVs An re Commission Merchant.
Feb T2-4V Atlanta, Oa.
T
l. C. DAY.
ailor,
CawnuctOa
8 HOP—In the Patton baBdmg, east of the
court bouts. ,
dan 1,1857 .
fiepetyl $|()betfi3ebKnfp.
The Largest Stock of Goods
ever Offered in this Mar
ket!
T AMES’ DRESS 000D8.-J«st received a
li large and splendid asaortment cf Ladies’
Dress Goods, comprising a great variety of
rieh and elegant articles, suitable for Fall and
Winter season, among which may be found
•ICR SLACK BILKS,
do do FRENCH MERINO,
do do do BOMBAZINE
do do do CASHMERE,
do FANCY COLOR DsL IISES,
do do do ALPACAS, POP-
JDisrtllttUfotta.
00V, Brown’* Mesnge.—Yeto tf tttt
Bank Bill
EXECUTIVE DEPARTMENT,
.Milledgvii.le, Ga., )
Dec. 22, 1857. j
To the Senate:
I returti the bill entitled “ An act to
provide against tbe forfeiture of the sev
eral bank charteis in this State, on ac
count of non specie payment, for a given
time, and for the purposes therein nam-
. . — • Our banking institutions have exclu
sive privileges conferred upon tbem bv
Also, Superfine CLOTH and Merino Cloaks,
and Block Cashmere Shawls, Ac., at
LEVY’S CHEAP STORE.
Oct 14, ’57.
ATLANTA
DRY <X GOODS
it in shaving notea or iu other specula
tions ; and while be is making 25. 90
or 35 per cent opou the three pa
per dollars, based upon the on^ silver
dollar, supposed l*y life people to be in
tbe vaults of the bank all tbe time for
the redemption of the bills, be bas pro
bably made ten or 15 per cent upon the
silver dollar taken out of the vaults, and
used iu speculation; making tbe whole
profits, which, witbout a violation of the
letter of bis charter, the banker may
have received for the use of his dollar
one year from 30 to 50 per cent, while
the laboring man, without banking pri
vileges, is permitted by law to receive
only 7 per cent for tbe u.»e of bis dollar
for a similar length of time. Is tbie jus
tice ! Is it right! I deny that it is
right to give to a bank, or any other
law, which ate very valuable, and which
the laboring masses are prohibited, un
dera heavy penalty, from exercising up j - ^ such UBreMWwble and .1
: on the same terms upon which the banks - *. , ... T . _ .
1 exercise them The banks are nermitted mort nnl,ra;led P nv,le g e *- II n, *y
1? ll/i'DADTYTTiY f I ? i i k are permitted . , he banks do net issue three
tiMrU HI U M ! : ! ;y w, * out bo "* 1 setur,t - v ; “V I f or one, and that ihev do not all make
tlieir credit, or, in other words, their,. .. Tbi. m .v
Cutting, White <fe Co.
NO. 69 WHITE-HALL ST.,
Atlanta, Geo.
BARGAINS IN DRY GOODS!!
We are now able to offer
the greatest bargains ever lie-
fore heard of in Atlanta !
Fifty per cent below tho
regular prices!
CLOSING OUT!
Sale of Goods consisting of
, , , . . . i the profits above described. This may
money, and to charge interest . • , , , ,
-m tL l—lwtriiiit in.n wl.al. »* »"*• 1 H** * P"**g"t * ,d
been guilty ot a legal crime, by wilfully
and knowingly violating and ratting at open
ilnsil
large amount* of gold in their vault*. 8ev- ] them to reaum*. They wt
eral millions of gold bare been shipped into! or they are inmneere now.
defiance n positive statute of the State, ram-j the country daring the present suspension j It i* farther alleged that our banka sul
king tbe price or oar property, tbe price of. which eonld hove been purchased by oar pended in obedience to rcsolatum* pnsaed by
labor, the bappinen and welfare of tbe peo ; banka for n few pet cent premium. It ia; public meetings held in Augusta and Sa^
pie and tbe law of the State nil bend to tbeif' acknowledged that their profits for the last vannah I will not stop to inquire how —
interest. They are governed solely by their. few years bare been large It became a
interest and it is their interest in time* of 1 question therefore whether they would make
prosperity to expand and extend their cir-1 the sacrifice necessary to enable them to get
rotation, raise tbe price of property, stimu
late a spirit of speculation, and involve tbe
country ia their debt as much as possible —
In times of adversity when every man not a
banker is obliged to redeem bis promisee, no
matter how much sacrifice it may cost him,
the banks refuse to meet their obligations
because specie ia worth a premium in the
market, and they are not willing to make a
sacrifice of some of their large profits to get
it to redeem their bills. They therefore tut-
pend till tbe pressure ie over. They demand
ay bank directors or stockholders, or haw
many persona indebted to tbe banks snJ
otherwise under their influence er control,
composed those meetings, or how difficult it
may be. or may not be, for thoee srasi ia--
tcreated to get up meetings of this character.
CLOAKS,
Blaukets, Merinos, Osnabnrgs,
Flannels, Homespnns,
and everything usually kept in a Dry Goods
Store, together with
BOOTS AND SHOES, fg
Carpetings, Ac.
SALE POSITIVE!
CUTTING, WHITE A CO.,
Dec 24. 1857. 69 Whitehall str.ct.
NEW STOCK OF
FALL AND WINTER GOODS
JUST RECEIVED BY
Carpenter & Compton,
CASSVILLF, GEO. :
Consisting of a large and extejt^ire lot ot
Ready-made Clothing,
A carefully selected stock of
DRY GOODS,
HARDWARE,
Jjoci? qpfl §i>0£«,
Hats, Caps and Bonnets,
DRUGS AND MEDICINES,
Paints, Oils, and Dye-Stuffs,
PATENT MEDICINES.
STONE WARE.
And a great many other articles, too tedious,
if not unnecessary to mention.
Also, agents for Foster A King for the sal* of
Flour.
Also, agents for tbe 8. C. Paper Factory, and
will receive for Dry Goods
Clean Linen and cotton Rag*,
at three cents per pound.
Casaville. Oct 8, 1857—tf
upon them. Tlie laboringr inan, wbat- i . , -, - , . - „ .
evei mav be liis ocrunatTon is denied n,,der lhe,r char,er# > ll,e y m *- v
eve* inaj Lc Ins occupation, is dement | d fc it „ believed, is often approx-
this pnviieije, a ml w subject to indict-;. . J 1 4 , , ! . 11 ,*
J i .. r 2 i it imated if not exceeded mjwaeiice. lie
raent and punisbincnt « a criminal thecnt.nml demands^, a,a,lag that
lie attempts to exercise it. lie can re- i , . . , .. , ...,
. * , their practical operations, will, 1 doubt
ceive interest only njion the capital . *, .. , *. ’
which is the income of his labor: and
upon tbis ho is permitted to charge only,
legal interest, or 7 per cent per annum.
The laboring masses produce the capi
tal. Indeed, all capital is the result of
lalior; and that system of legislation
which establishes a favored class, at.d
confers ii{>on them privileges detihd to
otheis, by which they are enabled to
enricii themselves by taking from tbe
laboring masses the income of their la
bor, is not only unjust, but contrary to
■hi rw-i/A-rn OTTri —, the genius and spirit of our government.
BOO IS AND SHOES, I think it will not be denied by any,
~ “ that our present system gives to a favor
ed e'a-s immense ndran'ages over the
great laxly of the people. As an illus
tration of this principle, two men work
with their hands, the primary mode of
making capital, till each makes a dollar
in gold or silver. One loans his at in
terest The Jaw of our State permits
him to receive only seven cents for the
use of it one year;.and if he charges
more, the law declares the excess to he
usurious and void.
Tlie other applies to the Legislature,
and obtains a charter, conferring upon
him banking privileges. By this char
ter, it is made lawful for him to pay his
dollar as capital stock iuto the bank—
and to issue upon it three paper dollars.
The bank is |iermitted to loan these thiee
paper dollars at interest, and to charge
7 per cent upon each of tbem. If he
were to loan them for one year at legal
interest, lie would receive for them 21
cents. These three paper dollars are
based upor. the one dollar in gold or sil
ver, and the banker in fact receives tbe
21 cents interest upon his one dollar in
specie, while the person without bank-
ing privileges receives only 7 cents inter
est tijioti his dollar. But the banker is
not content with 21 j»er cent a year, or
| three times the amount icceived by liis
! neighbor, who is without hanking privi
leges. lie will not therefore loan his
three paper dollars (his own notes) a
yeai at 7 per cent, but lie will loan them
at 30 days, first deducting interest out
of tbe sum loaned, if the borrower will
also par one half, one, tfro or three per
cent a month usury, under the name of
j exchange.
. . . , | And even this privilege, since the
Have in store a large tresll' | >Mn ^ s have su*|>enried, as a general rule,
stock of all kinds of for- j is allowed only to cotton buyers orspe-
eign and domestic ! cnlators, and is denied to the merchant,
■wwtara ara ' fanner or mechanic. lie cannot get ac-
JEE Vwwflft* ! commodation, it matters not how good
T. E. SELLARS, A. J. MCBRIDE.
CHEAP
DRY GOODS,
at ^ ^ il *
Atlanta, Georgia.
ZELLARS & McBRIDE,
SCCCKSSOBS TO J. D. LOCKHART,
Great inducement* aril! be offered to cash | a note he can make. This debt to the
purchasera. Orders from adi stance will be ba n fc er must lie paid promptly, or re-
prumptly filled at lowest prices.
To our up-countiy friends visiting Atlanta
7 Call and see ns;
newed at the end of the 30 days. If
permitted to be renewed, tbe interest
must be again discounted and compoun-
We charge nothing' ded, aud the usurv, under tbe name of
for showing our Goods.! ext ^ n S e ’ » ,k!ed - ’ If , indu 'n ce “Jt
—' AVI OL p en ^ or ^ veJ|| .^ t | |tf note ^ yj| mufit ^
Oua? 1 .^thxTh-^r^ ^ *° ! renewed, the interest compounded and
Whitehall street, three doors i IU | the usury added, twelve times during
A * *“ **• Wallace s j || le year, or every 30 days. I speak of
Dee »4 1857—6m I the usual number of days allowed in
: bank. It may be but 60 days, while it
10 ! is sometimes 90. This increases the ip-
j terest received on the banker’s three pa
per dollars, or one silver dollar, to 25,
Spring and Summer Goods,
suit Everybody, at
Upshaws!! ,,— , — — -
T HE sabscriber is now receiving, opening, 35 per cent dependent on tlie amount of
pricing and railing the beat and moat care-1 exchange or usurv added each time the
Wty rateeted riock of Goods ever openedinthia no|eor % iI , j, rene wed. But the banker
FOB THE LADIES
He box MantiHu, rmprrime, at
is still not satisfied with this per cent
upon hie dollar. The law of his char
not, admit that the above is no exagger
ated statement of the workings of that
legalized system of speculation, oppress
ion and wrong, dignified by our law with
the name of banking.
The question arises here, what consi
deration have the banks given, or prom
ised to give the people, for these valua
ble, exclusive privileges? The answer
is, they have pledged themselves to fur
nish a paper currrency, at all times
sound and couvertsble into specie on de
mand, without regard to the price the
specie may cost them when needed, or
the sacrifice which they may have to
make to procure it. The privilege of
loaning their own notes at money at par,
and of receiving interest—compound in
terest—and eTen usury, under the name
of exchange, upon them, often enables
them in times of prosperity to amass
large fortunes: and in consideration of
these advantages, is it not their impera
tive duty, in times of adversity, to abide
by their part of the contract, and to
procure specie to redeem their bills at
par and thereby afford-relief to the peo
ple, no matter what it may cost them ?
After having enjoyed these advantages,
is it right that they l* permitted, when
the pressure comes, to tutpeml, close
their doors, retire into their splendid
mansions, lock up their specie into their
vaults, let their own hills depreciate, buy
them up through their brokers at a hea-
vv discount, causing distress and actual
suffering to many a poor debtor’s fami-
lj- ? and when the storm is past, step
forth iti the sunshine of their own pros
|>erity, wiili enlarged wealth, while they
coolly survey the ruin which, by tlieir
speculation and their bad faith, they
have scattered all around. I deny that
this is right.
Specie is uow worth a small premium
in the Northern market. By paying
tbe gold and redeem their bills, or whether
they would suspend, let the lorn caused by
tbe depreciation of tbtir bills fall upon tbe
people, and rely upon their power to set at: by producing a panic and calling the meet^
open defiance the law forfeiting their char- j ing in the midst of tbe excitement. I might
ten. and eren to compel its repeal till such 1 inquire in how many counties of this State
time as may suit their convenience They j outside of tbe immediate influanca of the
chose tbe latter alternative and it ia aaid i b»Dks such meetings were held,
that many ol tbem have suspended. In tbis 1 Again, it is said the suspension wss for
state of things they appear before tbe Leg- I tb« benefit of the people They did not seem'
islature, not prepared even to grant terms j to have anticipated the danger, and have
to the people, much less to ask any from | not asked for the relief. Before the banks
Gold and Silver or its equivalent from those i tbem. They refuse to submit to any res- | suspended the people could para their hills
indebted to them, and rail their property do I frictions upon their former chartered privi. - at P» r: since the suspension in many of the
matter how great a sacrifice it it is not paid | leges, or to give any assurances that tbe counties most remote from tbs banks, they
And if the property goes at a ruinous sacri- ! country shall b# protected against tbe re-
of suet a i
See, they will increase their speculation by ; currenc* i
i state of things ia future.
appointing an agent to buy it for t’-.em. In
the mean time if the biilbolder, ..ho is thttr
creditor, presents their depreciated bills at
be has labored for the bills and has receiv
ed them at par as money. That the purcha
sed property when purchased was high owing
to the bank expansions, and ia this way
involved himself in debt That owing now
to the bank contractions, property bas fallen
They demand an unconditional pardon in
the form of an Act to legalize their illegal
act of suspension, till such time as it may
suit their convenience to resume.
They accompany the demand with
the threat that they have tlie power nud
ihe will to do the people a peat injury
are having to pay ten per cent to get specie
for their bank bills This is n relief that
tbe people of the agricultural portion «f the
State have not axked for by puh'lc meetings
or otherwise
They did not ask to be relieved of one
tenth of the whole value of their property,
and they will be a little hard to convince
that they are benefitted by tbs operation.—
Tbe farmer sold his produce lor one bua-
if an attempt should he made to execute Ju , Ws in bank biUs> whicll ^ tb .
the law whicll they have knowingly and
wilfully violated. This issue is Uddly
till it takes twice as much to pay bis debts, i tendered, and the question made, shall
as it did few months ago. That his pro-, jj ie hanks govern the people or the pro
perty is about to be sacrificed, and that be j govern 1 he banks » Shall the law I*
cannot pay in bank bills without a sacrifice j e xcecuted or shall it be set at open and
of five, ten or twenty per cent discount upon j „ nco ,,ditionai defiance ? Shall onlv the
them. Tlie Banker refuses to redeem the | r>oor am | ,j le weak be compelled lo'ohey
bill*, and turning away calmly replies, Wt \ it w |d| e the rieh and the powerful are
hate
biilbolder
h powerful are
tutpendtd. The consequence is the permitted to disregard it nt pleasure ?•
older has to make the sacrifice which |_ mv oiiinion the richest cornorati
the banker bad promised to makt, and ought
n my opinion the richest corporation
should be compelled to obey the law,
to make, hut will not make and pay five, ten j -s promptly and implicitly as the hum
or twenty per cent discount on the bills of, citizen in the State. While I have
the bank to gat tbe specie. If any one pro-1 t j, e responsibility of its execution 1- mu
poses to compel the banker to comply with ■ determined to know no man or associ-
bis contract and redeem tbe hills or forfeit j at j OI| u f me| , t t | lat „|| ghail bow to
his charter, it is at once said that this course | autlioxity of the law wit boot regard j. 1
will ruin the country, as the banker i.ill be
offended and will refuse to let out any more
of bis depreciated bills if forced to keep bis
promise to redeem those now in circatntion
Since the establiabmrnt of onr banking
system in Georgia, tbe country baa already
parsed through two or three periods of dis
tress uf the character above described —
These have been periods of specalatfon by
the banks, and they have amassed fortunes,
while the people, the laboring manes, have
borne the loss. In eacli of these periods the
apulogy bas been made for the banks that
they were obliged to suspend. This assy
br.ve been true at tbe time, but tbe blame
lay behind this They were not obliged to
have indulged in thoee wild speculations,
which caused them to expand their paper
circulation beyond their ability to redeem
Ibeir promises, and in tbis way to have pro
duced tbe state of things which obliged tbem
to suspend whenever payment was demanded
banka suspended were worth to him one
hundred dollars in gold. Since the banks
have suspended tbe bills are only worth
ninety dollars in gold. He has lost fen dol
lars by the suspension. . That argument to
oonvince him that it is for his benefit may
be able and ingvniouv, displaying much
learning and eloquence, to which’ be will
probably reply: Before the banks suspend
ed I bad one hundred dollars, I have ^CBt
none and since the banks have suspended I
have only ninety dollars t I understand.tha
figures hot do not see the benefit. •
It is again claimed that the sutpeaslsm
was necessary to enable tbe bank* to far-
oisb tbeir bills to the cotton buyer to pur-
thepresent crops that tb* crop could
to the wealth, power or rcftuem-e which oot ethrewtae behila. atxLifcat it would net
be paraihle to get it to market if tbe boat*
they tray potass. Noon are so high
that they shnll be permitted to ptnoe
themselves above the lew. And if the
proper case is made by proof so as to
authorize me to act I shall order pro
ceedings against tbe wealthiest bank, or
other chartered monopoly in Georgia,
as soon as I will against tbe humblest
individual who has disregarded and vi
olated tlie law. It is claimed by tbeir
friends that our banks are well managed,
but that the tusptnsion was unavoidable
after the Northern banks suspended, and
that any other eourse would have
ruined the people. Uow is it if this tie
(rue, that nine of the Siutli Carolina
banks, most of the Alabama banks, all
of the Kentucky banks, all the Louisi
ana banks and four or five of the Geor-
wtrn cnsspsllnl to rename sped* fajfMP*-
Tbis argument will not bcas txaminatiem
Cottne ia Liverpool is worth 15. to 17 cento
[■er pound ia gold. -It is therefore softkta
Georgia just as much in gold altos dotatot-
ing tbe cost of transportation and lasersqp"
to Liverpool. The manufacturers aead Mto
cotton
They have the gold to give for if. VU»
li&ve the cotton ami want the gold.
There are ships plenty and tlieir own
ers want the freight. If there were- wot
a bank in Georgia our cotton would stilf
find its nay to market. And if we
would not take depreciated bitU of sus
pended banks for it, we shotrld soon get
g«ld for it. It is true this would eanse
some delay, and would be to some ex
tent injurious, but not injurious to the
planters who are generally but little In
debt, and who are not fo ced to sell »*
gia banks have stood the shock, and are
still redeeming their bills in specie ?—
The Meircbantby a course of high living and j And why are not the people of Lonisi-
over trading, involves himself in debt be. | ana or Kentucky ruined ! It is a little ! j( would be to those speculators, bank-
yond his ability to pey, and closes doors, or j remarkable ifcat those banks in Georgia, ,. rs att 4 brokers, who have so long livfd
this, our banks can purchase enough I in bank pbrase tutpendt. ne receives but | which have not suspended have
with which to redeem all tlieir bills, and ! little public sympathy. All agree in eon- i persecuted as ‘\\ lid Cats, by the frinuli-
can resume specie pavmeut itnmediati- draining his coarse of extravagance and erf the very banks which have suspended.
■ --- -- i - . - .... It is thought to be very unpardonable
for any one to doubt the solvency or
ly. This woukl restore public confidence,' folly. He is blamed not so mach for closing
stop the decline in the price of cotton, j doors, as for tbe course of extravagance
which has already fallen from 17 cents! which involved him in the necessity of clo-
down to 10 or 11 cents per pound, since J sing doors. Our banks in this ease were
the banks have suspended, and which under no such necessity. They suspended - . „ .
will continue to fall, unless they resume, as a speculation. In 1840 while the people "ig to monopolize llie business in Geor- • 0 f dependence upon Hie North, which
and would also restore contentment, 1 were paying through one of there periods of! f«*l at perfect liberty to make war j wou u be worth to the South half dozen
... !.. . .. ■ a . . • * ' tivwxn f lio ItifavtAr av WAnnfpr lltlllL'4 i •> . Y* a 2a 1. A a f 4 tL.
good conduct of any of the bank* of
Augusta or Savannah or any of their
nninerous agencies, while they wisb-
and growir rich npoB the lalnTs of tlie
planters, who' when ili*-y say that a cer
tain mennure will rain the country, n«u-
ally mean that it will injure them. The
very delay which speculators say would
rwiw the ecnntry might lay the found**
lion for direct trade with Europe, cut
ting us loose commercially fr< m a state
; distress, above alluded to, they determined j upon the interior or country banks. ! .n't rope. But it is not trne that tl
There is a clause in the Constitution of bank* would refuse 16 furnish ihqir hill
prosperity and happiness among our ]
people. Tlie hanks refuse to do this, j to protect ibmuelvea if possible against such j
because it would cost them some i
fice, and rather than make
prefer to let their bills depreciate i
market. This causes our people,
live remote from banks and cities, and | month* after thn passage of the Act. And bt¥e suspended. They preferred to make j
who are occasionally forced, to obtain 1 requiring all tb* banks of this State in fn- - |j, e gacrifice to get the gold, redeem their j bill* to buy tbe cotton if llie planter*.
specie, to pay as high as ten per cent. ; tare to redeem all their liabilities in specie i bills, and save their charters. Had there j will take tlieir bills for it. They fuMtisb
discount upon the bank bills to gel the oe demand or prdentation ; while forfeit- ! , g ; m ;u r clause in onr Constitution, j tlieir bills to the cotton buyer at legal
coin, bnt if the banks are forced to re-1 are of the charter was provided as the pen-; jj believed that our solvent banks would • interest and probably one or two per
sume, this sacrifice on the part of the alty for tbe violation of the law. The people bave come to a different conclusion, as to . cent a month exchange (usury) in . king
And tlieir interest is to furnish their
The answer ia, simply because it is to
their interest to keep up the panic, drive
down tbe price of cotton and every kind
of property to tbe lowest price, then
grasp it into their own hands, and thus
grow richer upon the misfortunes of oth- • lages, it was believed that motives of inter
people will not be longer necessary.— j relying upon the plain statute as well as the. ,b e necessity of the suspension.
Why do tbe banks refine to resume ?— common law which takes away tho charter :
“ ’ —— 1 ’ “** of a corporation which abuses tbe trust and , ... . ,
. ., . , . .. , resumed that onr banks were obliged to
,-lp.bly violates the contract upon wfoeh , Ue TOrclia „. ,„a bT-k. of
£e e «.re ^““z t^ra 3^2 i trZ drawing .11 lb, specie out
weraree-re against 0 f tbeir This argument was more
,ra«. On account of th«r oraporate pnre-1 ^ ^ rem , ^ haTe ^
° . ■, , , , ,, ... . . . .of our bills to enable them serioosly to
ere, produced by them for the purpose rat would prompt the hart, town**mt*. ^ |U> ^
of spoeslation. j tbeir Urge gams s sacrifice, if need be. suf- *
I affirm that oer «—(• which have ses-! fieient to enable them to proenra tho specie
ponded sad so eontinws, are geilty of s high j sml redeem their bills to save their charters
i ii■mm i "i 1. raaral and legal crime, of a lt was not then believed that the banks
m :-i—:—bamnaattay harebswght woald have tbe power to violate tbe law
the present crisis mnm the people, for selfish with impunity, and to dictate tbe terms of
their own pardon. Sinee the passage of tho
15 or 20 per cent Interest. The cottou
_ . .... . „ . . bnver, the friend and timhaWj theagent
Bat it wss said before tbo Northern banks ^ ^
A W. STROUP,
Architect end Builder,
CASSVILLR, GKO.
T WORMS the citizen- •<( Cmu and the adioia-
1 toe Gnnatiee that he has psrannsitly toss-
tod it the shove nresed pWmte will tetead
jUnalunt 75 eeats pet ftiire, enah.
and whan by apswding a faw »H—— 1 del-; act of 1810, the
^ he ke^fi; UwtedtoL^ | foVevery one dollar ofcapital stock sc'- , lararfthmr ta—raos prate in thspmehnre | sraoMt of banking sapital in the
tunllv paid into the bank." Onr people ef sprera, the -m-wra erold ^ly have j grrot^merrared, there pewer m the State
T ^ ^ ret-m'^tlly to undereUral tbe »— nvrate. By ratetog tode this, they - and their tn.ueraw reer the
' iScKinXKBEN- i our Imak charters to be that the benk 1 have tetrayed pehBe are* I rare, dreanged the eoaatry have ■neraracd. Hbo kse not
Habra Lre.m the mustTt nil times hnve in it. vnnlto on. j ~-I- *• <****•
amp efCtaShs Bti^ D’etre, Ktaotie Cloths, Cra-i dollar in specie for every three dollars several cants in the pond, by which oer creasing influence of onr wealthy
** of iu liabilities. This is n great error— pfantora bora sateiasd n fora of raranl turn, over onr leg.slaiure: When tber ,n-
foetid be basnet ^ ^ ^ require -iHfo- W dolUra. ^ tho rate f prep- torratre^ onto* prere«e braomre
-1 ^ l .u. .k. (LUfoL. ^ ik. I»b d..H orty tbrongboet tbo Stoto bon greatly do- very strong upon tbo tow-making power and
' ‘ ibly felt. Bhh this stoto of thiagj
bills to the extent that our Southern mer
chants pay promptly without suit. They
do not si! do Ibis. If onr banks continue
specie payment, tbo Northern merchant
must pay sped* or ite equivalent for oar
bills, if they gat* larger amount than they
Z Tf EltoTTi Z j T
Sontbcra merehsnte. They make name of
tbo aeorasarira of Ufc which wo amebiigad
to have, white they are obliged to have onr
•agar, rice and cotton—more especially oar
cotton. If they do not gat it tbeir Jratorira
must stop and thousands of their poor oper
atives most be thrown out of employment.
Cotton will command sped* or its eqaiva-
lent. Onr banks emtrol tbs eettaa trade.
Bote, Capst Boots, 8taaea. Oh Iran eertaia be exceed three dollars for everv on« of en- predated. The credit of tbs Blais stead is too sensibly felt. Wit!
“i.'ST^fH*rdw»e, be ha, th,m A-rfow i P^i .7*^.**? bot A d«s not |hno been i*jraod, white general distrnst and «mtmg .. Geragi* tb.
recent baaki
of Hard ware,
A5mo^aptcaaW raws.
! quire that it shall be kept in the bank.!
Ll^hJd tU by tlT 1 tbeir contrast with tb* peoptein'rafnsiag to n—m renal ssnaootions with Bow York, sad j term! of the Northern people to r»*wmton j the
L ’l-. Tb. most tbeir astern. nremU«..whra Itavre mdeit raorarary for car bank, to suqwml. warfare about specie with tbo Southern , the
They bare stenoocarwd in N<
1 crime, by violating canoed a pressure
and if tks people of tho North ram apon j in other wQfd.s he forced like, iudi
with tbeir bills for sporie, they have | to nat m good faith and pair aooor-.
- - , _ J ■ : .1 . :V k.
Ice a credit. Call at foe
they
3kj*
jirii-e of tlie cotton and the plainer loses
it. TImj buyer ship* the co'ton and
turn* over (lie bill of failing to tbe bank
of whicll he got the hill*. The bank
controls llie cotton, oidrr* it sol*] and in
'* ihirty or six day*- lias the gold, or ster
ling exchange a* good as gold in Tf»
vawlts in place of the bill*: Iu thU.WHjr
tlie bank r.ot only make* a forge per
cent upon its bill*, bnt rrplcniahcs the
vaults with specie iu their place. And
if the hank is redeeming it* Li!!* in spe-,
cie so a* io deserve public confidence
tho bill* may not be returned for ipowths
by the planter " to demand tho specie.
But tin) bank nnikes sufficent profit by
the transaction to justify it in laying
thu in.ii nail .premium to get tlie gold,
to redcefWfSwin immediately. rrejpjreS
Tliere l«, tfimwfore, no found^tMH» iff (apt,
for the alarm that the planter could Bob
sell his cotton, should tho banks bo
forced to. redeem their hills in specie,
%
ew York. Tbis naturally only to require specie for tb# eotue'sad j ding to their promise. But it may W
in Goorgia. awing to onr j bri^ H back. It is wot therefore the ia- .said that this «D»y cause A. decline^ Iti.
die silver dollar so paid in, and may use!
it mn sufficient reply.
’ thair ability or make a aanmiterehte saerite to gss tbo j banka. Sac* tb* Nortbarn banks have re- j planter gan nffiffd to Ukenaaalier M-,
> the grossest iajnatie* specie to most tbe ran likely to be mado^! enased, the tone has chafed, and onr bo^ei inafpnoe, if hf gate gold or bank
• bare crrf-*~* in upon tbem. Tbe bonks at tbis tiara c!aimad | ray tbst tbo feet font tbo Northern bonks . doRvertabhritotb geld on demand, tan
I by «u— They bare and still claim to bo entirely solvent, with bare resumed makes it more difficult for he cn lake W suspended bank hl&t, at
m