The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-05-26

10 drss AR uniasI inferers iraa them.
bul merrly N state me easr in Ihe PLAIN
est manner, - andrntand il. And |
wIsh. gentlemen. that in order 10 be able
% Do this. IN Ihe best and most eonsinc-
ing msnnsr. had the ability Of ny learn
cd frIsnd, lMr. Ogden whom you have
oil 50 oflsn heard. and sho slsles his case.
usually. in such manner, that when stat
Cd. IL 10 already very veil argued.
Lei % see, genhenen. what The train
OF occurrences has been. 10 regard 10 our
revenue and finances; and shen these
occurrences are suited. leave 10 every
man the right IN decide for himself whe-
Their oar present difficulties have nr have
not. arisen from attempts 10 extend the
Executive .uIhority. In giving this de-
tail. shall be compelled "a speak af the
late Bank 0f the United States, but shall
speak oi il historically only. NV opin-
ion Of is sillity, and Of the extraordinary
ability and success with which Ils affairs
were conducted. for msny years betore
the termination Of rs charter, is ~ell
knewn. | hive often expressed u. and |
have mol altered il. But a. present !
speak Of the Bank only 40 10 makes me-
eessary psrt IN the history OF events
which wish nov 10 recsPi,ulsie.
Mr.. Adams commenced has admins
tranon in March 1925. He had bren
elected by the House OF Representatives.
and began his career a. President under
. strong and powerful npPosIuon. From
the very first day he was warmly, even
yiolrnly opposed in all his measures;
an Tins apposIuOn, - We all know. con-
unued without abale either IN force
or asperiIy. Ihrnugh aIs winnie term Of
four years. Gen,lemen. I am moi about
10 say whether this opposition was well
or III founded, just ~ nnjusi. | only
state the fscl ~ connected with other
facts. The Bank of the Unned States.
dung these iOur years at Mr.. Adams's
administration, was in full operation. IL
W., perf.nming The fiscal duties enjoIned
on II by It's charter: il had established
numerous Ofhcss--sas maintaining
large circulation. aud trsnsscIing q vast
business in exchange. It's character,
cuniucI. and manner Of administration.
wsre al well known TO the whole coun-
Try
Nav, there are two or three things
worthy Of especial noIIee. One is, tina.
during the whole ol this heated political
controversy. IRON 1925 10 1929, The par
~ which was endrssorlng 10 produce a
change. Of administration. brought no
charge of political interference against The
Bank ri the United States. II ANY thing,
il was rather a faVor.e with the party
generally. Certainly. the party. as a
parry. did not sscribe to u undue attach
menI TO other parties, or TO the existing
administration.
Another important FAC, is, that during
the whole Of me same period. those Who
had espoused the cause Of Gen. jackson,
aud who sought 10 bring about revolu-
ton under his name, did not propose the
Destruction Of the Bank, or lis dlscontl-
nyance. a. one Of the objects which were
70 be accomplished by the proposed re-
solutnn. They lid moi tell the country
tina, the bank was unconstitutional: they
did not declare il unnecessary: they dId
mol propose To get along without II, when
they should come into p""er themselves.
II individuals entertained any such pur-
poses, they kept them much to them
Selves. The parry. as a party, avowed
none such. third fact. worthy oi all
noace, Is. that during this ptnod. there
wss no complaint about he state If the
currency. eiiher b. the country, general
~, IT bs the parry then Ia opposition.
In NJ ,rch. 1929. Gen Jscksun was
insueuFaled. He came IA on professions
of Reform. H. snnunced reform Of all
abuse, tn be ,he great and l-sdlng object
of ms future administration: aud 10 his
inaugural adjrps pointed ou' The main
subjects Of tnls .JrlD. But the bank
was no, one Of hem. Il was not said
The nank was constitutional. IL was
10, said il was Unnecessary or useless.
II was not said l. ,tu had failed to do all
that mad been no d or expected from il,
in regard to the 'rrency.
In March, lS2! then. the Bank stood
we'll, very well, I.h the new admins
trstion. Il was regarded, so far as APP
pears, as entire constitutional, free from
political or pa :; taInt and highly useful.
i had, as u found no place IN the ca
,aIogue Of uses 10 be returned.
But, ge lemen, nine months wrought
q wondf .iul change. New lights broke
fort. oefore these months had rolled
away; and the President, IN his message
to Congress. IN December 1929, held We
~ different language, and manifested We
~ different purposes.
Although the bank had then five or six
years oI lis charter unexpIred. he yet
called the attention Of Congress. very
poinIediy, to the subject. and declared:
That the consti,utionaiIiy Of the
h..k .xax a ell dauntpd hy MANY.