The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-09-15
PRESIDENT OF the U. states
EEssE@E


PRESIDENT OF the U. states,
?. t.s Irs Hoses u cOaslsa. a i.s seazsass'
so sfIls irsi stssisa u iAs issaig ina css-
sElss zs.
Slow Citizens efthe Senate.
and House &c Representative;
Tie &c. Of ihe 23d Of June, 1885. re-
,.s,,,ns the Seposltes Of The public mo-
= s,d directing the employ menl oi
So. Dis,ncl. and Territorial banks for
,,s. purpose. made il The duly Of the Sc
,.r,arv 81 the Treasury 10 discontinue the
s,s Of such n them a. should AZ any time
r,la.e 10 redeem their notes in specie.
I'd to substitute o1her banks. provided a
,sfhelenI number could be- obtained 10 re-
r,se tho public deposlles upon The terms
,si conditions therein prescribed. Tie
snrrll and almost Simultaneous suspen-
80 Of specie payments BY The banks. in
g.g last. rendered the performance ofthis
g., Imperative, 10 respect 20 those which
> bren selected undef the act; aud made
= :, the same time, ihpracucable 10 EN-
10, the requisite number Of others, upon
prescribed conditions. The specific
~,siallo.s established by Congress for
4. 1eposI;e aud safe keeping Of The pub
i. HoSey,. having thus unexpectedly be.
,rns imperative. fell u IN be my duty
- ,tTard YOU al early opportunity for the
.I.rris, Of your supervisory powers over
he subject
Isss also led IN apprehend that the
,r,psnsinn Of specie payments. increasing
In smbarrassmenls before existing in the
,t,unlary affairs of the country. wauld
g. " diminish the public revenue, that
n, accruing receipts into the Treasury
upsli mol. With The reserved five millions.
u sufficient TO defray the unavoidable
expenses Of the Government, until the
r.ual period for the meeting Of Congress;
VhlsIlhe authority To call upon the States
lr portion Of the sums deposited with
hon. was too restricted 10 enable the
D.mgtmen, to realise q sufficient amount
IRON that source. These apprehensIans
hare been justified by subsequent results,
Ebrh render il certain that this ds6cicn-
VI will occur, II additional means be not
DvIded Nv Congress.
The difficulties experienced by the
ltfranuse Interests, in meeting their en-
,'ssmenIs. induced them n apply tn ma.
pr''ousIy 10 the actual suspension Of
'P'c's payments, for indulgence upnn
.1Tr bonds for duties: and all the relief
iiAo-isel by law was promptly aud
a''rhlly granted. The dependence Of
h T'essury upon the svails Of these
'oad'. to enable il TO make the deposIies
SIih The States required By lsw, led me
The o1,sei TO limi, this indulgence To
he first Of September. but il hiss since
'een eIIndsd To the fira Of October. that
lie mater nigh, be submitted to your
arthsr dection.
Que',O,s were also expected to srise
The recess, 10 rsspec, to the a","ber
'alnenI Of those deposiies. requiring
e 'hisrpo'ition Of Congress.
proEihon of another act. passed
~, the sane tine, and intended to Sc
""'e fai!hiil compliance with ths obli-
.'I'on Of the United States 10 satisfy sll
l'msnds upon them in specie or lis equi-
''n'. proslbiIed the offer Of any bank
''r' not csnyertable on The spot into gold
b. silver a, he will uf The holder; and he
hdIly oI the Government, with millions
N dcpUsltp. To inset its engagements in
manner mus required bv law. was
''d'rad very doubtful by the even, to
"rb have referred.
Sensible that adequate provisions for
".' unexpected exIgenc,ss could only
"'lde by Congress; convinced tina,
,'~e OF laem woull he indispenssbly ne
'sssary to he publIc sersice, before the
guar PERIOD Of your NEE ing; aud desl-
oi> also ioenible YOU 10 exercise, al the
''@5S' mOneli, your luli constitutional
P""eF. Tor the relief Of the country. |
'a'd moi, 'ilhIpropriely, avoid subject
as you TO the Inconvenience of ASSEM-
ding at as arly day as the state Of the
popular representation woald permit. |
ain sure TIA lave done bu, justice to
s'ur feelings, inbelieying that this lncon-
~nlence wi becheerfulIy encountered,
10 me hope Of enderiug your meeting
'"Gducive q .hegood Of the country.
During tie caller stages Of the revul-
$40" through whhiwe have Just passed,
u"Ch acrimonious discussion arose, and
great diversity Of opinion existed, as TO
=. real causes. his was not surprising.
-. as operations Of fdit are soIdiversltied.
.Hu NE Influences which affect them so
au'uerous, and oitt so subtle, that even
IMPARTIAL and wellhformed persons are
~ s'Oon found 10 aee in respect 10 them.
20 inhsren, diRd.ies were also add