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The USroS BANK.-Nearly two years ago, in
discharge of what we considered our duty, We
requested the people to be aware Of this splendid
scheme of fraud. At that time we were ccnsur-
cd for opposing 1t, inasmuch as it then had not
gone into operation, and its friends said we knew
not what it would do; therefore, we were wrong
in speaking aught ag, inst it. Wehad not thon,
nor have we now, the gift of prophecy, nor even
much discrimination, but it required neither TO
enable us to see the purposes to which lew
selfish designing POLITICAL FlNANclERs "oulo DC
able to direct the resources Of such bank


This mammoth ha nj that '"ao e do 90 much
for the people-thnt was to make money good
and plenty--in a word, that was to restore the
currency of the state to healthful and sound
circulation has so far proved signal failure'
nav, made our bad currency worse. The bills
il issues are not currency at all; but bought
and sold in market like other articles of traffic.
The Tax Collector does not receive its notes; in
fact, they are not taken for any but doubtful
debts. Still, on their face, in imposing charac
ters, we read, "FAITH OF THE STATE
PLEDGED" Can any one, in his senses, be
levc that the state is bound to redeem note!
that 1t will not take in payment of its own doei
that are only worth about thrce-fourths of thu
nominal value, and that have been issued in vi
oation of its luws1


A few heartless spectators got control of th'
Union Bank, and have used il to serve thei
own purposes; violated the charter and ruinet
its credit at home and abroad. 1t would be ;
pretty thing, indeed, if Mississippi was bount
to redeem all such trash as is issued by the Uni
on Bank! This would be glorious thing TO
speculators! No, the legislature of Mississippi
chartered far different bank, it chartered {
bank to reform the shinPlaster system, not tt
take the lead in it.


II is we'll known that the Bank has violated
ts charter, and that, therefore, the state is no
bound for the redemption of its aotes. If tn
state was, does any one believe its notes woul
! bc worth no more than they arel