Southern telegraph., 1837-05-02
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migia oi ihe d.iicnltiesin which we ar1
present iavolytd Il is sufficient lhai
now experience, under a general demng
currency, the fan measure uCihe presMa
snd trust the lesson will not be lost upon
Le6ns then, in l1aking heyunl the mlmen
investigate tie epropuotv Of adopting ecrlail
measures that may tend to arrest gui guard
against similar occurrences. Taking Ibis
wow oflhe subject, ihe question presents
js5li, and which submit for your delibem-
fsaa-wheiher the passage of ca aetprohib-
i6ng the Introduction Of slaves into this
State as merchaudize, may not have a salu-
iary ellocl in the checking the immense
drain ofcapial annually m1do upon u, by
the sale Of this description Of property.
The prohibiicry clause in the constitution.
It not imperative upon your body, renders
it at least proper That one Of two things
should be done; either that you prop0so an
amendment to that provision, or that yo7
pass an act in accordance with its spiflit
and utendment,
n 1t is freely admitted, and the ohiecI
as be made to such LAW, lh
wopld DO at varianso with the broad
cipes Of our free mstita;ions-iis eh
listfs ssQ4a
icalty. Undor such impressions,
IN convention against the clause impa
the inhihi;ion;and under different circ
stances, looking to lis general opora,iu
should certainly still oppose it. Butin
Stating under our complex system of COVE
mon', we are Uften constrained from Che
Iorce Of Circumstances, or the henocessily
The caso,'o brego The pusuit of principle.a
though correct in the 0bstacl, to obtain
Prectical benefit Under these conside1s
tlonS, in connection with the present asnss
of affairs, aud regarding The injunction
Inc constitution as imperative, il seems
9le that the experiment should be made. an
and may safely be vonturod upon; and tIe
more so, bccuase, if its operation should not
produce tho desired effect, the remedy 81
repeal may be resorcd to
There is another circumstance Tint has
operated most injuriously upon this conmu.
nifty, to which will here take occasion n
adtort-undcr the grinding, wihering, aud
bitter effects of which, many ofour citizens
are now writhing. IaIl ido tothe highra
olinercst we have been compelled to paw
for mrnoy, and the almost entire dcpen.
denco to which we hive been sui iccted, in
order to raise it on any terms, upon bills
drawn on aud accepted bv the commission
hqnsos in other States. The late extensive
tailurcs, in New Orleans particularly. cuts
off many facilities, and we are now thrown
back upon our owa resources. Unf0rtuy
na!ely for the country, our hanks are large
creditors to these hDases, and the interest Of
the institutions requires Of them to sustain
as far as possible their sinking fortunes, IN
consequence of which, in addition 10 theiF
suspended domestic debt incurred upon
protested notes, they are now nnlbIe to sus-
tRin The planning interest by extending fur
ther accommodations SO much needed
These iacssand the consequences to which
they naturally lead, are too apparent to be
longer looked; nor cm hey fill TO press
upon yoar 1niods, the i'm ncnse advantages
to be derived from a well regulated State
policy.
We re fully competent to manage
i'll our commercial operations within our
own borders; AMI so long as we consent 10
be tributary to, or dependent upon, large,
and in some respects, a for
ciEnaemPorum, we may expect to experi-
once the disasters with which we are at
present visited.
] It is readily conceded, that we havo in
dulgcd too freely in this ilI.adyiSed bill ope-
ration. Bat it must also be admitted, that
our banks declining to discount notes, except
to a very limited amount, and at short pc
rlod, or 10 purchase domestic bills. has mea-
suraby forced it upon us Under the im-
preston that the banks may safely deal Id
such bills to a considerable extent, and that
It would afford to the planters of the interior
particularly great accommodations, re-
commend the repeal cf the law imposing
damages on foreign bills returned; and that
1am1ges be imposed on domestic bills pro-
tested for non-payment.
can conceive of nothing that will so
IulIy and etiectualIy promote the general
interest of the Stale, as the vigorous prose-
'ution and completion of the rail roads now
a progress; and nothing that will tend SO
lrectly to relieve us from this sort oftribu-
ary dependence under which we labor in
ho sale of our cotton, and in the makina
arrangements. The creation of
'arlous market places; the establishmentof
extensive business houses; and the concen-
ration of capital, must afford the necessary
acliltles to grcatcxtent thereby creating
competition of which our citizens may avail
themselves, by seIlingHt these roints, or
illlpalng their cotton abroad, as crcumstan-
'es.n'ry seem 70 require. But the advan-
ages to result from this policy have fire.
lnsntIy been urged; and forbear now to
,nNrge upon them. My object in touching
he subject on this occasion is to call your
attention To fhe nronriatv and ;n,oorto, ot, -