USA > Mississippi > Mississippi : comprising sketches of towns, events, institutions, and persons, arranged in cyclopedic form Vol. I > Part 21
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After the collapse of the old banking system the legislature re- fused to charter any banks of issue, until during the war period, when all sorts of money was in circulation. Representative T. Coopwood, in 1852, presenting a minority report on a bill to per- mit a bank at Aberdeen, said that the people there had in circu- lation Georgia, South Carolina, North Carolina, Alabama and Tennessee bank paper, were tributary to the avarice of foreign corporations, were the greatest losers in case of failure, and had to pay from one to two per cent to obtain specie. He protested that he differed with the majority of the committee on the point that Mississippians cannot manage banks, and asserted there was as much intelligence and honesty in the State as anywhere. But his plea was without avail. "The opposition to banks was so great that some of the banks that could have weathered through the financial troubles preferred to liquidate. There were only two banks that survived the panic and passed through the fiery cruci- ble of the war upon the banks. They were the Commercial bank of Manchester (Yazoo City), and the Northern bank, at Holly Springs. But they confined themselves to a very restricted busi- ness and failed during the panic of 1875." (Millsaps). "There were several banks, not banks of issue, that did a brokerage and exchange business after the banks failed, up to the time of the war. The bank of Britton & Koontz at Natchez is quite a noted one of this class that survived all vicissitudes of panic and wars and continued down to the present day. In 1835 William A. Brit- ton, of New York, came to Natchez and started this institution, and was joined by his brother, Audley C. Britton, in 1837, and in 1840, George W. Koontz, of Pennsylvania, entered the firm. It was never a bank of issue and never failed to meet its obligations. Wirt Adams & Co. (A. H. Arthur, manager), and Brown, John- son & Co., were the private bankers at Vicksburg before the war. J. & T. Green and Griffith & Stewart were the well-known private bankers at Jackson. The Columbus Insurance & Banking Co., at Columbus, Charles M. McLaurin, president, was chartered and organized in 1852." (R. W. Millsaps, History of Banking). The Planters bank question was revived in the legislature of 1859, and referred to a joint committee. The majority, by Simeon
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Oliver, chairman of the Senate committee, reported that "it would be impolitic to agitate a question of such magnitude, which must result in a division of the people of the State, and divert their attention from much more important questions of State policy, now impending and soon to be acted upon, which will require the united voice and action of our people successfully to defend." The minority, by William C. Smedes, chairman of the House commit- tee, replied that they could not see that the condition of our fed- eral relations, "which we admit to be gloomy enough and to presage great danger in the future, and, perhaps, not distant fu- ture, is any answer to the earnest entreaty of our patient and long forbearing creditors that the State should pay to them or make some provision for what she justly owes them. Whatever may be our political condition . it is no reason that the State should not make provision for her honest debts; is no excuse for her turning a deaf ear to her entreating creditor, who for nineteen ears has, without any extenuation for it, been kept out of his just dues by a State amply able to pay the debt during the whole time without oppressing one of her people, and almost without being conscious of the fact." Not one member of this committee "would declare or express his opinion that these bonds were not legal and valid obligations upon the State." . No person ever au- thorized to speak for the State had ever questioned their validity, except Governor McNutt, whose opinions both ways could be found in the public records. In 1876 the Constitution was amended to prohibit the payment of the bonds of both the Union and Planters banks, and this prohibition is a part of the Constitution of 1890. (See Repudiation Resolution.)
With the exception of such banks, "it may be said of the pe- riod immediately preceding the Civil war that deposit and dis- count functions were monopolized by brokers. These brokers shaved papers, charged most outrageous rates for money, and with the greed of Shylocks, exacted 100 per cent mortgage prices for plantation supplies. During the war the evils of this banking anarchy were multiplied by the issue of worthless cotton certifi- cates, Confederate currency and counterfeits. Depreciation stalked abroad in a devastated land. Political union has brought in its train financial unity. Nationalization has induced the establish- ment of a system of national banking. Thus, out of the dead chrysalis of prejudice there have come into life in Mississippi since 1865 twelve national banks, representing an aggregate cap- ital stock of $800,000." (C. H. Brough.)
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But it is to be observed that the present national banking sys- tem is merely local banking under national laws. It is nothing like the old Hamiltonian system of one great National bank to manage the currency, that Jackson overthrew. The failure of the State legislatures to regulate banks of issue was amply demon- strated, and as the money issued could not be confined to one State, it was legitimate for the United States to intervene. The efficiency of the system depends, as Hagan pointed out, upon pub- licity, and also, essentially, upon competition. A retrogression toward consolidation would threaten a renewal of the crimes of banking in the Thirties.
As for banks that do not issue money, the State is in full con- trol as always. The power of the State to authorize banks to issue money is not denied. But the United States makes it unprofitable for State banks to issue currency, by laying a tax upon it. And this is, so far, regarded as a wise regulation, because of the ex- perience hereinbefore narrated-an experience which was not con- fined to Mississippi, nor to the South.
All the banks in the State were put under inspection by the law of 1888, which required the auditor of State to call upon each bank and banking house in Mississippi, for statements, at least four times each year at times known only to himself. The State had then 12 national and thirty other banks. These others, now called State banks, had an aggregate capital of $1,660,000, and deposits of $4,593,000. In 1894 the State banks had increased to 63, and their capital to $3,278,000, deposits, $5,000,000. In 1900 they had increased to 101; capital to $4,280,000; deposits to $12,- 500,000. In 1890 Auditor Stone said: "Only a few years since, Mississippi had no banks, except in half a dozen towns, and all surplus money in hands of individuals was deposited outside of the State, to the manifest and serious detriment of the business interests of the people. Now there is scarcely a town of any busi- ness reputation that has not from one to four banks."
The present banking laws of Mississippi were enacted in the code of 1892. They require State banks to be organized under a charter granted by the State. Under this law most of the State banks have been organized, 108 of them during the four fiscal years ending October 1, 1905. The total number of State banks is 234, with resources and liabilities aggregating $50,620,811.20; paid in capital, $9,608,804.52; surplus, $1,665,839.20; undivided profits, $2,205,612.63; individual deposits subject to check, $26,- 400,712.02; time certificates of deposit, $2,356,954.51. These fig-
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ures are from the report of Auditor T. M. Henry, August 25, 1905. Since that time eighteen new banks have been organized, and the banking capital of the State has greatly increased. The State has twenty-four national banks with an aggregate paid in capital of $2,820,000; surplus, $1,010,000; undivided profits, less current expenses and taxes paid, $4,884,350, and national bank notes outstanding, $1,589,880.
The Mississippi Bankers Association was organized in 1889, and held its first meeting May 22. The first president was S. S. Carter, of Jackson.
In his address before the seventeenth annual session of the association, at Vicksburg, 1905, Auditor T. M. Henry quoted the observation of the New York Financier of April: "The remark- able growth of the banking industry in Mississippi is an ever- increasing source of wonder. During the last two years the num- ber of banks has almost doubled. The aggregate capital stock of new banks asking for charters, as shown by the Secretary of State, was $450,000, or twenty per cent of all the new charters approved during that time. In the more conservative cir- cles the assertion is being frequently made that the banking busi- ness is being overdone, and that a reaction will follow, but such does not appear to be the case from the financial statements now being tabulated by the auditor. All of these banks reporting are in splendid financial shape, carrying large deposits and good vol- umes of well-secured loans."
As showing the improved financial condition of the farmers in the three agricultural States of Iowa, Kansas and Mississippi, the Secretary of Agriculture cites the following bank statistics: "In- dividual deposits," he says, "in national banks of Iowa increased from June 30, 1896, to October 31, 1904, 137 per cent ; Kansas, 212 per cent; Mississippi, 286 per cent; the entire United States, 92 per cent, or much below the average of the States named. In the State and private banks, deposits during this time increased 128 per cent in Iowa, 227 per cent in Kansas, 306 per cent in Missis- sippi and 185 per cent in the rest of the United States."
With one exception there has been no bank failure in Missis- sippi for the past ten or twelve years, and the total for the past twenty-five years has been very small.
Bankston. An old settlement in Choctaw county, a few miles southeast of Winona on McCurtain's creek. It was founded in 1847. Col. J. M. Wesson established a cotton and woolen goods manufactory here, which was maintained successfully until 1864,
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when it was burned by Federal raiders. Another factory was es- tablished here after the War, but was also burned. In 1900 it was a village of 84 inhabitants with a postoffice and a grist mill.
Banner, an incorporated town in the northwestern part of Cal- houn county, about 18 miles east of Water Valley, which is the nearest railroad, express, telegraph and banking town. It has two churches, a money order postoffice and several stores. Population in 1900, 114.
Baptist Church. The beginning of this church in Mississippi was the settlement of Richard Curtis (q. v.) and his friends on Coles Creek, 1780. In the year 1800 a church was organized at Woodville, and about the same time one on Second creek. Lieu- tenant Schuyler, commanding at Fort Stoddert, issued a pass through the Choctaw country, May 11, 1804, to "William Berry, a preacher of the Baptist order, and his traveling companions, Messrs. Radford Ellis and Robert McAlpin." Two churches were established in 1805 and 1806, one of them in Amite county, known as New Providence. These four churches, with Salem, making five, formed an association in Septemebr, 1806. This was the Mississippi Association, which is still in existence.
There was a rapid growth of the denomination. The pioneer preachers were zealous, earnest and energetic men. Among them were William and Bailey Chaney, Barton Hannon and John Han- nah. David Cooper, another pioneer preacher, was a well edu- cated and polished man, and for thirty years was actively engaged in building churches in Mississippi. Richard Curtis, the first Bap- tist preacher in the State, is described as a plain, honest, unso- phisticated man, and an uncompromising and zealous preacher.
In 1812 there were seventeen church in the State, with a mem- bership of 765. In 1836 there were 107 churches, 92 pastors and 4,865 members. In 1860 there were 596 churches, 305 pastors, 41,482 members. In 1835 there were six association, and in 1859 there were twenty-one.
The present State convention was organized at Palestine church, in Hinds county, in 1837. The introductory sermon was preached by Rev. L. B. Holloway, and Rev. Ashley Vaughan was president. Among other prominent preachers who took part in the organiza- tion were: Benjamin Whitfield, W. J. Denson, S. S. Lattimore, Chas. Felder, Lee Compere, R. G. Green, Norvel Robertson and T. S. N. King.
At an early period in its history the Baptists of Mississippi be- gan earnest movements to establish educational institutions, but
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a number of failures were made prior to the adoption of the school at Clinton. But by 1850 they had, besides Mississippi College, which was one of the oldest and strongest institutions of learn- ing in the State, splendid female colleges at Grenada, Chulahoma, Clinton, Lexington, Hernando and Castilian Springs.
In 1855 the Association began to give attention to Sunday schools. There was some interest manifested, but little was ac- complished before the outbreak of the war.
Elder A. Vaughn published the Southwestern Luminary in 1837, but it was merged into a Mobile paper. The Mississippi Baptist had a chequered career of some years, being suspended at one time, revived and published at Grenada for awhile and then moved to Jackson, where it was wrecked by the war. It was founded in 1847 by Elder W. H. Taylor and was afterwards edited by Elder J. B. Hiteler and others.
When the war came it brought desolation, and the Baptist church became disrupted. Its institutions closed, some of them never to open. It suffered great loss in property. Its missionary work ceased, except among the soldiers at the front, where hun- dreds of brave missionaries went ministering to the sick and wounded and rendering other services. At the close of the war it had little left but its name. It required stout hearts to take hold of the work before the church at that time, but such men as Gen. M. P. Lowrey, Col. L. Ball and their comrades were equal to the task.
An orphan's home was established by the church immediately after the war, to take care of the children of dead soldiers. It depended solely upon the benefactions of the denominations. It was established in 1865. The Association was heartily enlisted in its behalf, but the people were impoverished and it suspended in 1875. The idea of the Soldiers' Home Orphanage was conceived by men in Meridian.
The educational work of the church was taken up again. Mis- sissippi College was reopened. The endowment of more than $100,000 had been swept away by the war. Besides a great debt in scholarships threatened the existence of the institution. Dr. Walter Hillman became president and through his wise manage- ment the debt was removed, and the success of the college as- sured. The distinguished minister Dr. W. S. Webb afterwards became president. The college is substantially endowed and has a bright prospect.
The Baptists have a number of flourishing female colleges : Hill-
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man College, Blue Mountain Female College, Starkville Female Institute, Shuqualak Female College, Lea Female College, Car- rollton Female College. Besides these the Baptists have estab- lished a number of high schools in various localities.
There was a great missionary work to be done after the war. The destitution was appalling, and the Baptists were scattered and discouraged. For a time there was no concert of action, but finally organized work was begun through Associations, and the Domestic Mission Board commenced its noble work, which was carried on with great success. In 1873 the State Mission Board was organized.
In 1867 a Baptist newspaper was established at Jackson, called the Christian Watchman. It only lived a few months. Since then a number of Baptist papers have been published in the State at different places. There are now two successful papers of this denomination, the. Baptist, published at Jackson and edited by Rev. T. J. Bailey, and the Mississippi Baptist, published at New- ton.
The Baptists have besides their other institutions a splendid orphanage at Jackson, which is successfully managed by Rev. Mr. Carter.
The last Baptist convention held in 1905 reported for Missis- sippi fifty-four Associations, 1,305 churches and 109,294 white members, and church property valued at $1,115,725.
Bar Association, State. In 1885 meetings were held by the at- torneys of various towns to promote the formation of a State Bar Association, with the result that a general meeting convened at Jackson, January 4, 1886, which was called to order by Reuben O. Reynolds, who, when Thomas J. Wharton had been named as temporary chairman, read a constitution and by laws, which were adopted. The officers elected for the year were A. M. Clayton, president; W. T. Martin, W. L. Nugent, L. E. Houston, vice presidents; Thomas A. McWillie, secretary; Walter Trotter, treasurer. Executive committee, R. O. Reynolds, W. G. Yerger, W. H. Fitzgerald, C. B. Mowry, R. G. Hudson, J. W. Fewell.
The next meeting was at Jackson, January 3, 1887, W. L. Nu- gent presiding. The officers elected for the year were W. L. Nugent, president; Baxter McFarland, R. H. Thompson, W. G. Yerger, vice presidents; C. H. Alexander, secretary ; Walter Trot- ter, treasurer. Executive committee, R. O. Reynolds, W. H. Fitz- gerald, J. B. Chrisman, Marye Dabney, W. A. Percy, T. H. Somer- ville. The minutes of this session first show the appointment of
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standing committees, afterward a regular feature, the committees being, with their first chairman: Jurisprudence and Law Reform, L. Brame; Judicial Administration and Remedial Procedure, W. H. Sims; Legal Education and Admission to the Bar, Edward Mayes; Grievances, J. R. McIntosh. Papers were read-"A Glance at Our Land Titles," by Edward Mayes; "A Sketch of Jurisprudence of Mississippi," by A. M. Clayton. The death of Col. Reynolds was reported.
At the third session, January 3, 1888, officers were elected- J. B. Chrisman, president; Locke E. Houston, T. S. Ford, S. S. Calhoon, vice presidents; C. H. Alexander, secretary; J. A. Brown, treasurer. Resolutions were adopted on the death of R. O. Reynolds and H. T. Ellett. Papers were read-"Tax Titles," by R. H. Thompson ; "Law Reforms and a Code of Civil Procedure," W. M. Rogers; "The Imparlance Term," J. W. Fewell; and the proposition to abolish distinctions in procedure in law and equity was discussed and postponed until the next meeting, for adoption of resolutions. Executive committee, Hiram Cassedy, W. H. Fitz- gerald, T. H. Somerville, D. L. Sweatman, Marye Dabney.
At the fourth meeting, January 7, 1889, there was an address by J. Randolph Tucker, upon the Constitutional System of the United States. There were also papers by President Chrisman on the Selection of Juries, by Martin Marshall on Law and Equity Procedure, by T. A. McWillie on The Ancient Adocate, by Fred Beall on Legal Education. Judge R. A. Hill was elected presi- dent ; L. E. Houston, T. S. Ford, S. S. Calhoon, vice presidents ; W. R. Harper, secretary ; J. Q. Robbins, treasurer ; executive com- mittee-J. W. Fewell, R. H. Thompson, J. B. Harris, R. C. Beck- ett, M. Green, J. M. Gibson. Resolutions were adopted upon the death of W. A. Percy.
At the fifth meeting, January 9, 1890, the deaths of T. W. White, A. M. Clayton, E. G. Peyton and R. S. Hudson were reported and committees appointed for resolutions. The session was devoted to business bearing on legislation, and some of the suggestions made in discussion were embodied in the constitution of that year. A. com- mittee was appointed to confer with the legislative committees in regard to changes in courts. Messrs. Clifton, Alexander and Whit- field had been appointed to attend the National Bar association at Chicago in 1889, and this year the appointees were Edward Mayes, W. H. Sims, F. A. Critz, C. H. Alexander, Hiram Cassedy and D. C. Bramlett. The officers elected for the year 1890 were R. H. Thompson, president ; J. W. T. Falkner, W. T. Martin, R. C. Beck-
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ett, vice presidents; W. R. Harper, secretary; J. Q. Robbins, treasurer; executive committee-C. H. Alexander, C. B. Howry, J. F. Sexton, W. Trotter, F. A. Critz, T. A. McWillie.
In his address at the sixth meeting, January, 1891, President Thompson discussed the recently adopted constitution. Papers were read by R. C. Beckett, on Codification; on Section 1300, Code of 1880, by S. S. Calhoon; on Administration of Estates, by Ed- ward Mayes. The deaths of J. W. C. Watson and W. M. Rogers were announced. The officers elected were: L. Brame, president ; E. H. Bristow, J. A. Orr, R. N. Miller, vice presidents ; W. R. Harper, secretary ; J. Q. Robbins, treasurer; executive commit- tee-T. A. McWillie, G. A. Wilson, A. H. Longino, R. H. Thomp- son, J. M. Allen, H. Peyton, J. L. McCaskill. At the meeting of January 7, 1892, the annual address was delivered by U. M. Rose, of Little Rock, Ark. The officers elected were T. A. McWillie, president; C. H. Alexander, C. B. Howry, R. P. Willing, vice presidents ; executive committee-R. H. Thompson, L. Brame, H. Campbell, E. H. Bristow, Edward Mayes.
The proceedings of these meetings, 1886-92, were published. No meetings were held after 1892 and the Association was aban- doned. In 1905 an effort was begun for the reorganization of the Bar Association. In 1906 it was reorganized, at Jackson, with G. D. Shands as president.
Barbara, a post-hamlet in the southeastern part of Perry county, about 28 miles southeast of Hattiesburg. Population in 1900, 24.
Barbour, Philip, a native of Virginia, and a captain in the pro- vincial service in the French and Indian war, came to the province of West Florida in 1768, and in recognition of his services was granted 2,000 acres in 1770, 1,500 of which were at the mouth of Big Black or Little Yazoo, as it was then called. There he settled, and was visited on his plantation, in 1773, by Governor Wood, of Virginia. At the commencement of the Revolutionary war, for espousing the cause of liberty in Natchez district he was incarcerated for several months and lost all his personal property. He died in 1794, leaving a seven year old son, Philip C. S. Bar- bour, his only heir. The title to the land was imperfect, and the former plantation was sold by the United States, after which the junior Barbour laid his claim before Congress, and finally was compensated about the year 1820.
Bargain, a postoffice in the northeastern corner of Jones county, about 10 miles northeast of Laurel, the county seat.
Barkleys, a postoffice of Wilkinson county.
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Barksdale, a post-station in the northeastern part of Sunflower county, on the Yazoo & Mississippi Valley R. R., about 28 miles north of Indianola, the county seat.
Barksdale, Ethelbert, was born January 4, 1824, in Rutherford county, Tenn, son of William Barksdale and Nancy (Lester) Barksdale. He early entered the profession of journalism and is regarded as Mississippi's greatest newspaper man. He first edited "The Democrat" in Yazoo City in 1845, afterwards removed to Jackson, and in 1850 took charge of "The Mississippian", which was the official organ of the state from 1854 to 1861. In the fall of 1861 he was elected to the Confederate Congress from the State at large, and reelected in 1863. He had the rank of major in the Confederate service. After the war he edited "The Clarion" which was then Mississippi's greatest paper, and the Democratic organ from 1876 to 1883. He took an active part in the politics of the State, but made himself most prominent through the col- umns of The Clarion; did much to bring about the political revo- lution of 1875; came very near being nominated for governor in 1877. He took especially strong grounds in favor of the im- peachment of Governor Ames. He was elected to the Forty- eighth Congress in 1882, and reelected in 1884. He was on the platform committees of the National Democratic Convention of 1860, 1868, 1870, 1872, and 1880, and was chairman of the Demo- cratic State executive committee from 1877 to 1879. In 1890 he was the Alliance candidate for congress and was defeated by Col. Chas. E. Hooker. Two years later he made a strong contest for the United States senate against Senator George, but was de- feated. In 1843 he was married to Alice Harris, of Holmes county, Miss., who survives him. He died at Jackson, February 17, 1893.
Barksdale, William, was born August 21, 1821, in Rutherford county, Tenn., received a classical education, studied law, and be- gan the practice at Columbus, Miss., where he also edited a news- paper, the Democrat. He served in the Mexican war as captain- quartermaster of the 2d regiment, and it is related by Col. Reuben Davis that when the regiment had a prospect of battle Barksdale abandoned his other duties to take a place at the front. He was the regular Democratic nominee for congressman for the State at large in 1853, and was successful, though opposed by Reuben Davis and Gen. Alexander Bradford. He was renominated in 1855 when the Know Nothing party was at its height, and was again successful, being elected over Crusoe, of Columbus, an able
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