The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-10-06

n Kartant IRON Nir uHfAiOaas ~ khr 49, r.
his Constituents, which. when he sass
heard IRON Them, eeTe. lie believed, =
verse 10 ; Rslional bank.
Mr. X made also number oi r.
marks IA defence Il he Bank ii The UHi-
led States against ma charge If having
used IL influence for political purposes.
tie denied thai he Bank had medilsd
in tlie pnliiIes II lhs country. ard he daf-
I'd any man ~ place his lingrr on single
instance ~ which The bank had done -.
as lesslbcfare Ihel late PSssi,leni had ennl-
meneed his war nn lhe bank---a Aar Mhirh
originated in ihe rsfi,sai of the haEk IA
make is management subserEienI Ia Par-
~ purposes.
Nc. X. next referred 10 The declaration
,msde b. Mr.. cslhana 0n ioTinsr dsy.
that he would nOl naA take the hs"k ri
the DATED States - a bank OF pubic d.
pOsiie. even a. Slaie Institution because
after lhr war against il, II sE"ulsl glsr tie
bank = Triumph over tie GnteEn.nsuI-
NJ X roalrssed hfmseM shaeke.i b.
.his Declaration. A Triumph. Mr.. X.
axciaimed: a triumph agsinsI the &,
vernmeni. What 6o,ernmeu9 Ms X.
had thought that The Government If ll,,
United States e'nsisieil af Congress and
the President. Bm dii the gentleman
mean The Gnycrnmenl of the Hsrniagc.
or the Government Of the Hhiis Hopst2
Mr.. X. dxeli on this topic with puial
aud sirnug feeling. >@
Mr.. X. here again referred IN The con-
tl''lou nfihe country. aud observed that
the iasI l,,nr ve AZ, had brought mere grey
hairs on the head NJ This y"uns aud v,g-
"rous c"ualry, than ought - tase graWn
these, in a quiet and ordinary admin
trstlsm Of tie Government in wh"le
century.
Mr. X. continued 10 debate on these
and various other Kindred topics, aud c.in-
rlude,! by expressing the hope that hne
: aud rrileriinn would lead IL brng about
wiser views and greaierharnnny al aeliun
on the mhmenlnns subject: aud 20 gre
time Tor this. cnnrluaed hy moving a
pos pavement ri the subject ull the first
Moed4y in D-sember nex,.
After SIM exp, a y, aud ;nierlnrt.
tory remarks by Messis. .SlraHgs. .Niifs.
Calhoun, aud RiUts,
! Mr.. Upton rose. lie said, the
question nov under considera,inn was Oi
% much impuna,,ce To lhe People III the
Stat which he had IN part tile honnr TO
-. represent here, that he felt IL To be his
dnly To- claim The indulgence of tue Sen.
! ate short time. whist he gave his views
J on some ol The topics that u Ih,s ume
I engaged the pubic attention from one
, end 10 The other al The country. la a
time of profound peace, sarr nidsd. as
we Thought. by all the rIenenrs ol pros-
perily. w. are suddenly arrested III our
a., onward march bs a WIde-sprr ad desaia-
iiNu! commt re crippled. public credit
! iGinred, Prlta,e fortunes ruihed. and The
pubhe TREASURY bankrupt. The late ses.
s,oo ni Cong, ess had just closed, the
Gr'nhrr- lad scarcely tune 10 return u
their homes. wien We are summoned 10
return 10 Washington 10 leglslaie the
Government oul NJ its dttfictgnr $, and
We find ourselves here ~ September ln-
stead nf December, engaged ~ ,leIlbera-
lr0H on the mode and manner 0i rellty-
Ing the distress of our country. H."
F" The inquiry naturally addresses itself
to every mad. why's this -! What has
produced it, ard what ls the remedy to
be adopted! The honorable Senator
from South Carolina, Mr.. Calhoun. !
when he proposed is amendment To the
blIl u.dtr consideration, lew days ago,
told Us that this question should be met
boldly aud maniuily: 10 use his own
words. let every une said he) show his
hand lead Mr. I. respond TO that no
biz sentiment ~ the honorable Senator;
tne question: should be met boldly and
lalri.; this Is Time Of deep anxiety To
nur constituents: there should he un
skak NJ among their public servants; ev.
cry "nr should speak freely fine CAUSES
which have produced The present embar.
rassmr"ts and act promptly an such
me .surrs IS will relieve the People.
II was his opinion that The putting
down oi the Bank of the Uuited STATE.
was The first step 10 the presen, embar.
rassm' ~; the transfer Of the pubic dc pu-
sizes .lrom that hank 10 the local Of Sta,t
banks stimulated these institutions 10 eA.
trseagant issues far beyond their ability
IT redempiInn: they discounted notes on
the 9ubl,c dePc-iles. extending their lines
OF discount beyoud The bounds Of pru-
drnrr: the people Ia the neighborioods
q. Ut the banks, finding that bank accommo.
dauons could be had with faCliIIy, enter.
ed largely iBtu specula,lons in public
lands, town lots and cher properly; ex.
tra'agrnce m living as well AZ IN dtrsslnn
Increased steir Indebtedness; H. a word,
SIR, che Whole couatry 'vrr-'rpdtd. ceas-
Ell I" IAbnr, and cnniractrd debts beyond
thetr ahIitty 10 pav-sperui. iLins we've