The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-11-17


People.
Whatever may have been the motives
or the course of others. | owe IL 10 my
sell and 10 truth 10 say. that. in depTecsI-
ing the election of Gen. Andrew Jackson
10 the office Of Chief Magistrate, il was
not from any private considerations. but
because Considered il would be Il great
calamity 10 nv country; and that. ia what
ever opposition ] made l., the measures
Ut als Administration. which anrr than
realized INV very w0rs' apPTehensIons. |
was guided solely by a sense 0f publ.
duty. Aud 10 declare nv Solemn and
mistaken conviction that, until the Exc
! cnIi'e p1~er. a. enlarged. extended. aud
consolidated by him. - reduced within
rs true Constitutional limits, there is no
permanent s-curils Tor the liberties and
happiness OF this People
4. Lastly, pass this bill, and whatever
divorce It's friends may profess 10 be its
aim. THAI perlnus uniun Of the purse and
The sw"rd. 50 justly dreaded by our Bri-
tlsh aud Revolutionary sacrslur-, becomes
absolute aud complete. AID Shb can
doubt q whn knnas that uyeT N. Seere-
tary at the Treasury Al W ,saIagion. aud
every sub Treasurer, the President cams
the power H. exerc's" u.'r,,usfuled saay!
10 exact Impl,c,i phe,lIenre tn has will!
The Message slasr- that. Ia the process
both II rbllrcIinn and i,.ourselBsnI uf the
pnb.ic resenUe, the "fIile. ,shn peElnrm
il act under the Exe"uuse commands;
and n argaes that, thsreiure. Ihe Custody
also ni tie Treasury might veil BE-
eaniidei I'd tue Executive care. think
the safer conclusion u direc,ly opposite.
The posst ssi0n 1f 80 much power over
the National treasure II Just cause Of
regret. aud furnishes a slr"ng reason fur
diminishing II, Il pos.Ibir. bat none Tor
lis INCREASE, noue ET giving tie Uh0ie
p"Ser oVet the purse " me Chief MagIs-
lrale.
Hitherto | have considered this scheme
OF sub Treasures a. Il u were "niy ahas
ITS friends represent n--a system solely
for the purpose of collecting. Keeping,
and dlsbursInR the public n"uey, IN
specie exclusively. without sny bank
agency Whatever. But u - tnAnIiest that
II - destined ~ bsc.mr, II =, b. n"i de-
sIgu,d lu he, a vast ana r'tdird con-
uexron NJ Gwrraetrnt haaAs. Il which
the arlncIpsl val be- At Washington. aud
every sub Teasurer vii ~ = branch.
The Secretary ~ authuriZ.d 10 draw on
The several sub Treasurer ~ pSy,G"ul for
al The disburss men's 1T GhVrtameui.
M law restricts lin a. I'd the auiount ar
rom 1i his drs,ls JT cherks. lie NAV
purposes at Circulation, and give them
all tie appearance and iart,tes Of bank
aoles. OF all lite branches at this system,
mat at New York will ne The nnsl
important. since about me hall Of the
dutles is collected Ih.re. Dr.i,s on Nes
York are al par, ur cnunnin premium
from every pOiaG oi the un"n IL is the
great money centre oi the cauniTv. lssu-
I'd ~ Convenient sun>, they viii ere Iia,e
throughout the whnIe Unhm IS bank
notes. and. as long as confidence Is
reposed III them. wtli he preferred 10 the
specie Which sh.u holders have right
to demand. rhey will supptv general
currency, oil many Of the raluris al
circulation, be a substitute tir notes Of
the Badk Of the Unlted States. aud UP
plant. 10 great extent. the n,e 81 ratk
notes. The necrssiIies OF the People
will cOnstraIn them ~ use t1em In tins
way. they will remain long IN citcula-
ton: and IN few wears WI shalt see an
Immense portion If the whole specie Of
the country concentrated IN the hands oi
the branch bank that l.. the sub
Treasurer. at New York. and represent
ell by an equal amount ri Government
paper dispersed throughout tie country.
The responsibility III the sub-Treasurer
, will he consequently greatly increased,
aud the Governments wii remain bound
: To guaranty the redemption Of all the
dralls, checks, nr notes (whaever may
be their demon haIion. emitted upon the
faith Of the money, in his custody, and,
Of course. will be subject 10 the hazard
OF the loss Of the amount vi specie in the
hands OF The sub Treasurer. II, IN the
commencement Of The system, the holders
Of this Government paper shall be requir-
ed to present II for payment in coin.
within specified lime, it will be found
lnconvenient or impracucabie 10 enforce
the restriction, and It will be ultimately
| abandoned.
Is the Seuale prepared 10 place not
only all the specie that may be collected
for the revenue Of the country, at the
! will Of The President, or. which is The
same L'lng, m the custody Of persons
; acting ia obedience to his will, but to
put him al the head OF the most power
lul aud influential system Of Government
h.uE tt,.f AGAR px isfe.if