The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-12-01

Isblished By he party 10 which he bad
always been attached. with The Inner
ial Msdison u their bead; who sfIer fatal
experience hal changed his opinion on
the subjec,. This palernily recommend
ed II. but reflection - sell a. experience
convinced him Of is great utility ss b
naneial agent 10 the Government. o an
ald 70 Internal md external commerce.
/ and wholesome regulator of an other
wise unegulassd paper system. A an
origRai guestiOR, he AS and ever had
been sppOsed 10 the whale paper system:
but The system certainly had many sdvsn-
isges IN free country. snd moreover was
ixed upna Us, and no one generation e.
Iher could or would bear The sacrifices 10
would cost 10 get rad Of il. Add added
he) the progress We should m.ke 40 GET
ting rsd of the system and is sbuses, BY
putting down the Bank Of the United
Slses, was predicted By me in the Senate
in 1884. Sir. The great Temperance
President, or temperance reinrmsr, Mr.
Delaysn, who sends " so many tempe
rance papers. might just As well have un-
deriaken IA encourage The cause 0l tenn
perance IN which he is engsnged, BY
breaking up 0ne respectable grocery in
Chestnut street. thai he might raise up
500 greg shops in The Liberties, The villa
ges, and the Western wilderness. Tie
thought il the part OF wisdom not 10 waste
itself an iDpracueable extremes. but 10
secure the blessings Of lie system, and
avoid as many of its evils as possIbIe.-
This he thought was best effected by 4
national bank. with the aid oi the Treas0-
~. The vast extent Of our country gave
full time To such an institution Ia lOp of
redundaneles and oil up deficiencies OIL
notice Of an irregulsrily in The currency
IN any particular sections briOre The elect
became general. II was elrearly the al
leresI Of such an institution TO perform
these duties faithfully. Ia own success
ful operation IN great measure depended
on ID; which was the best guaranty to the
public that they would be So nerlormed.
He also believed that the money III the
Rallon eOsid be enIrusIed tn no agency
~ little dangerous 10 libery, or So unlike
ly ,o use Al lor political purpose. Ex-
peTlence proved the truth Os Ihis opinion.
We had again the best Of al security
thai Is. the securIty Of interest. 10 en-
gage IN politics or unite itself alih %.
hIcal party 10 death 10 The Insiltuu0n.-
What evidence had been shown. Or could
be shown, that the bank ever hunted an
interference with politics, unlll u sup
posed the Executive to make an overture
Tor that purpose! In 1929 the Executive
commenced correspondence With the
bank To procure a change 10 the Presi-
dent ofthe New Hampshire branch. lie
did nm cay that any thing improper was
Inlended by The Executive, sul IL was the
FIRST interference Of the kind, aud tle bank
supposed IL 10 be an attempt To enlist IL
in poIlllcs, aud unite the power of the
bank with the power of The Government.
Ii declined on the ground that the 0ank
never had and could not now lh,,k II ~.
terIeTing in the politics Of the country.
The rest is known. The message fGi.
lowed with charge ol what nobody had
ever heard uf before. aud recommending
a Treasury bank, uniting the power and
patronage Of bank tn that Of the Govern
menI. From that time tor,h the Execu-
i've continued TO struggle Tor The money
power. unul il took possession Of IL in
1893. BY the removal at the depnsIles. |
only mention these facts. SIR, ~ prove the
great reluctance with which such an In-
shtution will ALWAYS engage in politics.
LIS interest requires the custom and freud
ship oI bnih political parties. and II can
not prosper against war by either. The
money power Of the Treasury is great,
lei il be Judged where II will: bat Tor the
reasons stated. | believe u Is less in a
national bank, connertrd with and de-
pendent IN The bUslnrss Ol the rnuntry,
than IL any uthrr. There was no danger
of the political lnfurnre Of bank. u the
Executive would let II sl0me. Some ale
united that the bank had been improperly
attacked, but that, being attacked. u had
over issued and otherwise rnIsmanaepd
in its struggles lor recharter. This
might be true 10 some exlenl, but. IL 20,
1t Is more an Ohlecnan Ia the direction
than The institution, and might be prevent
ed by simple provision 10 The charter.
which the old charter ought to have con-
tanned.
SIR, these are the opininns have always
entertained. aud were the opinions Of my
Ien colleague when came into the Sem
ale: they were known 10 our constituents.
But a. tlHs vas a matter Of expedienr,,
"D which they had right TO judge. the,
expected to be, and shall be, represented;
aud their wishes when | last nesrd from
them, we're against national bank. IN
fact, although believe II unfortunate that
the lid hank Was destroyed. the question |
Of establishing a new one al this time il