The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1836-05-06

ground that, III this absorption Oh money oy
the Government, there turks great danger
TO the whole circulating medium OF the
country, and consequently to every branch
Of trade and commerce, not TO speak OF The
effect OF an explosion upon the value OF eve
~ description Of property. The opinion IS
universal, we suppose, that the amount
nominaiiy in the Treasury IS every way
less safe where il is than it would have been
but for the violent removal of the deposltes
from the safe vaults of the Bank of the T..
nited States into those ofihe Deposlte Banks.
1t is very obviously 10 the power OF the Ex-
ecutiye now, If the same disposition existed
in that quarter towards the Deposite Banks
as did towards the Bank of the United
States, to spread, with a very few strokes oil
the pen, universal bankruptcy over all this
league Of Deposite Banks. What further
il is IN the power of the Executive TO effect
bv the possession of this tallsman (besides
the bribery Of the People with their own mo-
new may be IN part inferred from the fact
stated in the subIoined paragraph, which,
stantiallv true that is, II is true that notes
OF the Bank of the United States have been
refused at the Land Offices, afterwards re-
celyed at discoaat, and re.sold at q pre-.
mIa9.
FROM rHE NEW YORK GAZETTE.
4 friend has informed US OF the following facts,
which we're communicated to him BY gentleman
tf,,sy 1fftr from ST
c!5-e the disgraceful conduct of Government
ageut, which calls for investigation by Congress.
Al recent sale Of public lands the purchasers
came pr.pared to pas in bills of the Bank of the
United stxtee. which they had brought with them
for tina! purpcsc After the sale, these bills were
.endprfq in pavment. but they were refused BY the
aren't. who stated that he had received orders TO
i6at effect from Washington. In this dilemma,
tie purchasers accepted the friendly offices OF the
Yeeut himself. who very kindly discounted their
notes al the moderate rate Of ire per cent lie
subsequently disposed OF these same funds 10 IN
ciglduals who wished 10 make remIttances to the
eastward. at a premium OF two per cent; thus re-
azinp by the transaction, as he himself acknow
lg9ved. the handsome sum Of sIEtg thousand dol
lars
1t is remarkable tina. while money is so
scarce as IN New York TO command, IN
some cases, premium OF ten per cent
month from the safest borrowers, the prices
OF labor and subsistence are unusually high.
THIS Is a serv curlons fact, and IS without
precedent, We believe, IN the history OF this
country. Ii can only be accounted for BY
the circumstance, equally unprecedented, Of
the Government having tkirty.odd millions
Of dollars locked up in The Deposlle Banks,
and a large proportion Of that amount ct the
currency consequently withheld from circu-
laton. In fact, the Government is raPld.
Il absorbing all the money Of the country,
and If something be not done, and done
speedily, 10 restore 10 circulation and use
funess a part al least Of the enormous SUN
which has accumulated IN the Treasury,
the most distressing consequences to the
community must ensue. Mr.. Webster pres
sed this consideration With great force, IN
the Senate on Monday, 10 show the urgen-
cy Of immediate and etiectual legislation IN
regard to the disposition Of the surplus
revenue.
Asa matter connected with this subject
Of lie revenue, we may refer TO the desel
opmeuts made m the Senate Yesterday BY
Mr.. Ewing, Of Ohio, of the effects which
are beginning to manifest themselves in the
West. from the system Of Bank fayoritIsm
adopted by the Executive Government in
regard to the custody of the public reye-
uue.-Nat. Mtetligencer.
The resolution introduced BY Mr. Benton,
ION Saturday. } to require payments for the