The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-07-07
Advantages of Credit.-Mr. Tallmadge,

Advantages of Credit.-Mr. Tallmadge,
an noe AN buren Member OF Congress
from the State of New. York, in discus
sion which took place at the last session, ex'
pressed himself on this subject IN the fol-
lowing iorclble language:
"The credit system is the distinguishing feature
be,u cen despo,sm and liberty 1t is the offspring
nj free institutions II is found 10 exist, aaa its m
fluence is felt in proportion TO thu freedom ENJOY
ed by any people. By freedom do aol mean un'
regulated, uurosratned, natural liberty, but that
freedom which Is founded on lust ana equitable
laws where the rights OF personal security 0: Pri-
waite property, and religious ioIsralio"' are guar
anteed 10 every individual; where there is gen
eYal diffusion OF knowledge, and the existence OF
pnbIe and private morality. These are the ele-
ments, and they together TORN the basis Of public
confidence upan which the credit rests. This Is
the invention Of modern times. In the OLD govern.
ment. OF Europe, where liberty never found
resting plac,. credu was unknown. 10 the Uni
ted States has been left the honor vi maturing aud
pertecting this system. To the United States,
also, IS the honor due OF having hfst applied Inc
system OF steam navigation The effects upon ihs
general prosperity OF the nation have been as sen
shly ielt IN tho one as IN the other ana he
who should, at this day, recommend an sh'he
abandonment of our credit system lot a sole ana
ezeiuars metallic currency, would be deemed 40
less visionary than be who should attempt to SUB
stitu,e 4 Pennsy wanna wagon, Tor locomotive OF
a canal packet, or should endeasor to stem the
resis,ess current OF the MissIssipp IN tlat boat
instead OF those splendid palaces which nov move
mslesiiesly ON It's waters"
KeadalfSR Amos Kendall refuses 10
receive the warrants issued by the Post
Office Department, IN payment, Of Post OF
ice debts This is Infinitely worse than
the conduct OF the mons specie paying Banks,
which are the daily objects OF the Globes
abuse. " hlle the Banks refuse 10 redeem
their notes VI specie, they DO mol hesitate
to receive them from their creditors, 10 u
auidatlon OF their debts. But Kendall IS
sues warrants TO The creditors OF his DE
partmen,, in lieu of "gold and silver,
which he arrosaniIy promised should be
always forthcoming 10 meet demands
| uainsl him, and then refuses 10 receive
back again these warrants from those 10.
I debted to him Such conduct amounts not
only to confession of bankruptcy, bot rs a
downright fraud upon the pubic.
An Iasoireaf Bank The Nicksburg
/ Sentinel Of tue 9th inst. SAYS, United
i States Bank tOtes uow command premium
Of FORII.FlNE PER CENT, IN this
city. They are aili FIRE per cent bener
/ than silver" Well done this, for the notes
Of an insolyent Bank. Don't you think SO,
Mr.. Richie
i Seriously, however, can any fact more
strongly than this demonstrate the necessity
OF National Bank 10 regulate exchanges
4 FACT roR rue PEorLE-or q csd for The
triends Of specie pdWag admiais.
frafioa 10 cher.
few days ago a gentleman paid $50 10
specie, INTO the patent office at W ashingtou,
Tor patenl--bUi concluding mol to take
that patent, bot TO take another, he recelv
ed check for $50 Of The money back IS q
belDg retained as fees, DC. ! he next day
i be put ten more SILVER dollars with the check
and handed IT to the proper oilieer or clerk.
/ for another patent, but the check was re.
fused, aud the SILVER Tor the whole required
/ W BY the lnd,sldua! ~ho gave the check
and who has received the silver - Phil.
/ CommrciGl Herald.
PRETTY STRONG COMMITTEE