The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-10-27


exceed three millions Of dollars. wss con-
peleni 70 the production Of the Utmost
arrangement and distress 10 the money
market. What, then, must have been The
effect Of lhe removal Of near forty millions
IRON place 90 place; scattering il from one
end 10 The other Of This vide continent;
snbtracling il from lbuse channels Of
trade where, by the laws Of commerce. Il
had found iIs way, and forcing il where
no channels we're open for is reception,
and where. consequently. they must be
created BY law, through schemes hurried
into existence merely 10 6nd employmen
Tor the unexpected treasured You find
the states in different paris of The Union.
besei with desising plans Cor disposing Of
the money 90 Unexpectedly poured into
their lap. while those from wkom IL was
subirscled are parting. as il were. with
their very lile-blood 10 supply il 10 those
who have no use Cor ID. Meanwhile the
money lies idle until The states have de-
sised some plan Tor its absorption into
local circulation.
And do genilemea rack their imsgina-
lions in search Of causes, when Que so
adequate Tor The production Of all The phe-
nomena before Us is so ready al their
hsndl And when complicated as il is
with The operation Of the gold bill, as ]
have already presented il, is no, tie Won
der rather that matters are noworse! But
when We bring these causes into union
with the general Causes which seem 10
have sgilaIedlhe whole commercial world
beginning / believe in China, and effect
ing All Europe, both continental and insu-
lar, nothing il seems 10 me bat an anxious
desire 10 find fault. would seek for the
causes Of the crisis in the measures Of
the Government only. 50.
But believe, sir, that the foreign eau
ses which Rave Affected US. and those
measures al home 10 which l have adj
yer,ed, would have passed by US altogelh-
er inuoeuous, or nearly so, but for anolh-
er cause. Gentlemen have only adver-
ted 10 what The physicians call the exci-
ting causes OF the disease, they have o.
verlooked the far more important and
radical canse-an injury which has been
suffered by the constitution Of the patient.
and such an one as has been far more
instrumental in the production Of the
preseu, crisis than all The exciting causes
before noticed. The history ofour coun-
try has presented in its brief course more
numerous and interesting crises Than 9th
er nations have done who could boast CEN
turIes Of duration. This is probably the
join, result Of the rspidily Of our course
aud the novelty Of the political problem
we have been engaged in working.
Launched by The result If our revolution
ary struggle upon the wide waters Of an
uniried political sea, we we're without
charts, and the voice Of experience was
heard in no distinct accents 70 direct
our movements. Nothing, therefore,
was left 10 us but TO exercise the facul-
ties we possessed in drawing upon anal
ogy forguides in our trackless way. But
pause to correct myself, We had chart
the most clear and explicit that the iimid
or skepiicsl could desire. But, alas! not
one Of those TO whom has been commit
ted the helm Of state. has scrupulously
steered according to its Indications, but
trusting 10 his own sagacity, has gwen TO
the vessel wide birth, regardless Of the
consequences; aud the result has been,
that amid clear skies aud smooth waters,
some hidden rock or shoal, against which
the slightest attention 10 his chart would
have secured him. has brought up The as.
tonished sieersman in his couiden,csreer.
Blu, the vessel has proved slaunch; and
with nothing more than change OF hands
for the control Of her movements, she has
slemmed every difficulty, and pursued
her gallant course, the pride of her crew
and the admiration Of the world. The
improyidenl sleersge Of its predecessors
had lhckensd dangers around her, more
numerous than those which besei the Iugi-
lives from The destruction Of Troy. when
the late administration came 10 the helm;
is no, TO be wondered at. therefore, that
il could pursue no direc, aud onward
course, but was compelled to adopt expe-
dents TO shun this rock, and escape that
shoal; according to the circumstances in
which j, found itself. Yes, Mr.. Presi-
dent, il is 10 departures from the strict re-
quiremenis Of our Constitution, that the
chief, il not all, Of our difficulties as a
nation may be attributed. II is true tina,
disappointment, and calamity are the lot
of man, whether we view him nationally
or individually; but generally, IL not inys-
riabIy, the inquisilive mind may trace ca
| lamities to. the sufferers own neglect, or
willful irausgression Of the laws Of pru-
dence. Happily in both cases, timely
Il ranantanna IL aomnatant IN dafaat The