The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-10-13

nave such medium. | understand there
are gentlemen who are opposed 10 all
paper money. who would have no medi-
un whatever in circulation bul gold add
silver: now this. a. all events, il an
ineligible propositions; but As 10 those
who say thar there may be a paper
medium. and YET that there shall be no
such medium universally receivable, and
Of general credit. however honest the
purposes Of such gentlemen may be, |
cannot perceive the sanity Of such views;
cannot comprehend the utility of their
intentions; ! can have no faith, sir, in
any such systems. Now | would ask
this plain question, whether any one
imsglnes that all the duty Of Government.
IN respect to the currency, is comprised
/ IN merely taking care that the gold and
silver coin be not debased! Ii this be
all iIs duty, that duty is performed, for
there is no debasement of them: they are
good and sound: il This is all The duly Of
Government, IL has done lis duty: but If
Government is bound TO regulate COM
/ merce and trade, and, consequently, to
:! exercise oversight aud care over that
which is the essential element OF al the
. transactions Of commerce. then the Go
yernment has done nothing.
! shall not, however. lsaid Mr.. W.
enter into this question to-day, nor per-
haps on an early occasion; my opInOns
upon il are all well known, and | leave
il with great confidence TO the judgment
Of The country, only expressing my
strong conviction that until The People
! do make up their minds, and cause the
result Of their conclusions To he carried
into effect by their representatives, there
will be nothing but agitation and un-
certainty, confusion and distress, in the
commerce aud trade Of The country.
shall now confined Mr. W. coDfine
myself to a few remarks on the bill be-
fore US. and not detain the Senate longer
than will be strictly necessary 10 give a
plsin statement oi my opinion.
This measure is proposed in order 10
provide for The wants Of the Government.
| agree that this 10 necessary object,
but the question is whether this bill is the
proper mode Of making such provision.
do not think il il. though others may
think differently: IL this is indeed The
hes, mode, should wish To see il carri-
ed into execution, for relief is wanted,
bath BY the Treasury and by the country
but first aud chiefly BY the country.
| do not say thai by the law providing
for this deposite. the States haze any
fixed right 10 il; ! prefer 10 put the mat
ter entirely Oh the footing Of convenience
and expediency; aud when il is consider
ed what expectations have been raised
that this money has even been already
disposed Of IN advance by the several
States fnr different purposes, such as In
ternal Improvements, Education. and
other great ohierIs--It becomes ques-
ZION Of expediency whether it would not
he better To supply The wants ofIhe Treas
ury bv other means.
Another consideration Of great impor-
lance in nv view is tins: There are al
ready many disturbing causes IN opera
ton agiisling The transactions Of society
m III the various ramllicsilons Of business
and cnmmerce. Now. would ask, sir,
is il advisable, is IL wise, is IL even poll
uc. In introduce. at such a time as this,
another great disturbing cause, producing
a reversed action. altering the destiny of
his money. nverthrowiag contracts now
entered inln, disappointing expectations
raised disturbing. nnset,liug, and derang-
ing sail more the already drrsnged bust.
ness Transactions Of he whole country!
| ,roud ask, is il worth while 10 DO This!
think not.
We are to consider that this money,
according tn the provisions ut the exist
ing law, Is 10 81 equally among all the
States AMI among all the people; and the
wants Of The Treasury must be supplied,
if supplies he necessary, equally by all
the people. II is no, question there
fore whether some shall have money and
others shall make good the deficiency!
All partake IN the distribution, aud 1t
will contribute to the supply. So that il
rs a mere question ofconVenlence. and IN
nv opinion. 1t is decidedly most CON-
venienl on all accounts that this install
ment should follow its present destination,
and the necessities of the Treasury be
provided for by other means.
Again, il you pass this bill, what is IL!
II is mere bruiun fi,lmea; of itself it will
not produce any good if you DO pass it
Ali admit there is no money, therefore
the bill will give no relief to the Treasu-
nv. This bill, Mr.. President, will not
produce to the Secretary one dollar; he
acknowledges himself that. at all events,
i, will not produce him many, for he says
he wants other aid, aud he has applied
to Congress for an issue oisome'm'llions
10 Treasury notes. He gets The money,
| therefore. inst as we'll without this bill as