The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1836-12-30

|N'N'
ton IN consequence OF the quantity Of paper IN
circulation, wages 40 well prIces become e1or-
bltanl, II is soon found that the whole effect OF the
adullorstion is iseff on home industry or the
benefit Of the countries where gold and silver cir.
euIale aud MAINTAIN uniformity aud moderation
IA prices. Il is then perceived that the enhance.
meuI OF the price Of land and labor produces cor
responding increase IN the price Of products until
those product. 10 not sustain competition w,th
similar ones IN other countries, and thus both ma.
nuadured and agricultural productions cease 10
bear e1Pori,lion from The country OF the spurious
currency, because they cannot b. sold Tor cost
lhi- IS The process ly which specie is banshed By
the paper OF the banks. Their vaults are soon CT
haus'ed to pay Tor foreign commodities; the next
steP = the si"ppage Of specie payment; total de,
Erzdaii8B 81 p8per as a currency unusual depres-
Aion o. price, thc ruln of debtors, and the accu-
mutation OF property N he haads Of creditors aud
cautious capitalists.
II VAS 80 view OF these evils. together with tho
dangerous power wICd,d ~ the Bank OF tie L.
states and IT, ferugnancc 10 our Constitution, that
Has iuduccd t. exert tic goacr conferred upon
me BY tie American PtD,l e 10 proven, The cont.
uuauce u that Iesuluiior. Bat, although various
dangers 90 cur Republican Institutions have been
obgtst,d hy the failure OF that bank 10 e1tor from
the government renewal Of ~ charter, u IS ob,l-
oas that ittle has bern accomplished eaccp a 50
uiafy change Of public opuion, tos .fds restoring
to TIE c0atiFy iht sound currency PROVIDED Tor ~
the ,oustiiDtou. ln the sets ot several Of IL,
Salcs prohibiting the circulation Of small nol. ;,
aid tt3e auxiliary enact asnis o. Congress al a.,
lssl ttsiou stbldHr ttsif rtec gtion OF pay rnCrl
on pubic account, nc true go'lcy OF the rouuIr,
las occs acyaneta and larger portion 81 tie pre-
eiens metals infused lnlo orr circulAuu medium.
Those measure. ~ probably be follow cd o., 10
DIS uhrt. b, az enactment 4 State lass basish.
ing from ,fcBi4 son btAa lJics at stlli higher De-
hogIn4ilaus AID The otJce, may Be usicfi4,
promoted ts iuNhcf acis Of Congress, luftidtIus
lhs employ rrt, % hsrai agents, - such oanAs a.
rghiluus 10 sssr node. o. ,os denominations. aud
iHfas nIs Ilu.. az - TIA "a, Of ihg circulation
g gold atd ,itsf
Tie ,i,ctsoi an exicns.-,n af bank credits anc
oesr ta4es ii bses Iapsr, have ie,n .tuknel,
..,asst4lea "a tlt sslr- 81 the public land. ffan
tig f,tatUs ui4a, ht t rilgs IL is,frs sud r.
ecststs "a iae ea.t, f4t, ~ lasi .umn,I, It MS
ffftsfea iilai a. receipt, 5usiHs from I'll, "a -
itc elalle isaJ seft Itcfes .ire / an uaptv-
eedrhsta sga4bi. IL I'll q. however, thcse 'c
= l's sn.uuuffd Is ualt.rg a.o.c than credits 81
hsna. J 3, tatk, lens esl II cir notes 10 sseou.a.
-. taey atfe paaa g. ihc Receivers. ami lmme-
esi.i trtuta.a iu It's Hsbs$, u D, isut ont aasi8
49, .eiag l,lt a.tstarn,s 10 transfer 10
Utstesre'e atsJ ss.4.Ut paaie land. 4ua "a
t-t haftr atHl etrt Ga ti,e b,oks o. Tie
tsuin ita-e ef,4t.s 80 Obs helas 81 sou,e u the
~ts,gfh bauef lauals ea.td d J-g.iies. Vefo ~.
8 @af Efsa'is e tSaI fH.if t44utliast mesns oi
aysts'. aEd srfc = idiy Increasing ladeed,
eetg sttca.atau tatnfea-a useans "a another; tsr
ts a,ats. iiao tstl wcas imGtdta'.l, lieut. ta no.
slef ut autc paffaae af4 il,r bfaas we're tst.ue
aH t.-if tHslarss Ard tb,ir tssucs 50 sfesi, 6,
atm cup'@efsle o. ard ubdet % ar.b.Iul
t.has hg.o bsnt rfc.as. Il permitted la aetH.
#aat-. assll u,ilpst. + b. q, 'hc kat sal4c 10
sj.t Gasrfamynt IL, s.aat oi stta in aud
satcna.isu ats ra, caahle4 Is ne a. o,t. uaHk..
a1t psfYst,l the IS hs.e pulnudr al tauks thta'
egt 90, taao, s7d ~. z,la. rise 10 new iasutu,
5ltns r. * .raEa'C lhe tf.
Tie aietY o ~, puy.lr funds, and the iuicre>,
q te ieaHle generally. rtgaiud that uicsr o.-rra
tun, saagd e rht,kts ard II brcsu, tie auiy
- eyrty branth o si. G,uctsl aud safe t.oscfr-
ussu' p atl& 81 eelaaiu anG prupcs utrans ,o
-Otafe t.-i s1iataa ,tE,f tadet llis ucw 81 my
dots. ar,etcu thc t.sainu 81 order which 100
II sa iufr foa y th, etetafy o. Che frta.u,
81. tcfgUr- payment .u' %, public lands sold 10
b. made .u fite,, 10 b an exception uaii, tbs 18th
eli t.e g8ruut rHnth, in aser 81 actual s,ucts.
far measure has produced many sanitary canse.
gu.HDss. u checked tho career ut Tie we>uru
Hatks, 4nd g4Fa them additional strength ~ anti
,ipsrou ~ tho ptt-surr which has since persaGcd
upt eastern as stil as the Euupcau comucrvlai
cities, ~ preventing the extension Il the crcGI.
.ystcn, u,ca,ursb.f oul uif the means OF spocu.
Aiiuu. aud retarded Is progress IN monopol E'uE
tae meet NaligbIc 81 The public lands. |, has ten.
dst g. save tbs ntw States from nou.fe.idrnl
pfapaeto,.btp, one nt.t5 greatest obstacles T. thc
advancement of a new country ana the prosperity
ct an ald onc. u has tended to keep pen the pub
l5u lands iuf rHir,, hY cuigfauts al Govrtnmrut
pucys, tnslcad 81 htiuW compelled To purchase OF
spectators at douhl, ~ treble prices And Il Is
conveying into the Interior large sums Ia silver
and gold there t. enter uiancnllv into the cur
rene, OF the country, aud place It on ttuer ioun-
dal,au. |, rou6dcutly believed that tho country
wall aud ~ tho motives which induced that order,
aud The happy consequences which will have en-.
sued, much L. commend and nothing to condemn.
II fem1ips iuf Congrcss II they prove The
policy which, dictated Ihl, order 10 ol1S It up in
its various bearings, Much gooG IN NV lud..
mcut, would b. produced by prohibiting sales Of
the public a d., cyorp, 10 SEXUAL settlers, alta rca.
souabe f,d0st''o al prlcc. and 10 inu the quan
uty which shall be- sold 10 them. Although II Is
htcvcd the General Government never oug hi tS
rccciss any tang bon Tho constitutional currency
IN exchange for The public lsnds, that point weulC
be- Of lass Importance The lands we're sold for ,m
mediate sctlemvo, and cultivation Indeed, there
is scarcely mischief arising ont Of our prcsen
land system, including the accommodating surplus
OF revenue, which would not be remedlcd al one,
bS- q reslpctIon 90 land sales to actual settlers
AID 1t promises other advantages 10 the country
il ern,it, and 10 tie new States in particular
which cannot aIl Ia receive the most profound con
sideraiion of Compress.
Experience continues 10 realize the expectation