The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-11-24


vsrnmeu, mingle lis credit with that ~ private
eorpoEaliohs2 No one doubt, bat that the Co
Ternmont credit IA better than that of any bank !;
more stable and more safe. Why then sho1d it
mix up With the less perfect credit of those insti
tuiionsl Why should it not be safe in its own
hands, while shall be considered safe in the hands
OF 600 private institutions scattered all over tho
country, and which have other object but their
own private profit, 10 increase which they almost
constantly extend their business 10 the most dan
gerous EXTREMIST And why should the comn,nn
ity be compelled % give SIX per cent. discount for
the Government credit blended with that Of tho
Banks, when the superior credit Of the Govern
ment could be furnished separately, without Gi5.
count. 10 tbs mutual advantage Of the Government,
and the community? Why, let me ask. should
the Government be exposed 10 such difficulties. Al
The present, BY mngllng its credit with the banks,
when It could be exempt from all such, by using
by itself, its own safer credit Ii is time lie com
mnnlty, which has so deep an interest ii a sound
and cheap currency, and the equality Of tbs laws
between portion Of the citizens 81 the country
and another sbonld reflect seriously on these
things not for the purpose Of expressing any in
tefes but TO correct gradually disorders Of dan
gcrous character, which have insensibly, ia the
long course Of Years, without being psrctivea by
any one, cTept INTO the State. The question 10
aot between credit and no credit, az some y ou!d
have Us believe, but III what form credit can best
perform the functions OF sound ard safe curren-
rcney. On this important point | have freely
thrown out my ideas, leaving il to this body and
the public &c determine what they are worth Be-
llegng that there mig BIT be a sound and saie paper
currency founded on The credit ., Government ex-
clasiyely was DESTROYS that those y no are re-
spohsibie and have the power, should have avail
ed themselves OF the opportunity Of the temporary
dthcit OF the Treasury and the postponcBens Of
the fourth ipstaimeEt intended 10 be d posted
with the States 10 use them as the means al ford
ing circulation, for the present reofef The coun-
try aud the banks, during the process ofsepaIating
them from the Government: and il experience
should justify il, OF furnishing permanent and
safe circulation which would greatly facilitate lis
operations Of the Treasury al afford Incidental
u, much facility 70 the commercial operations of
Tie county. 81, different direction was aiveu,
and when the alternative vas presented Of d laaG,
Or the Withholding the fourth instalment tron he
States. Did not hesitate % give decided vote FIJI
Withholding It. My aversion 10 pubic de5i il
deep and durabe, 1t is, IN ny opinion letn!-
cious, and is little short Of fraud On tie public
| saw too much OF it during tie var no, to under
stand something OF lie nature and ehafact Of
pubic leans. Never VAS country more eetcgi.
onsly imposed on.
/ Having now presented my views Of lhe course
dNA tS Ni4iGl Lie ItFtHhAtHt POLICY CT
tbs country, looking lis liberty and asiiur eros-
perity, requires, come finally 10 tie question Ct
re!le.. | lave placed tb. last, not that am de-
void Of sympathy Tor the country ID The pecunisry
distress which now pcryades il. Ne ape Struggled
earlier longer to prevent Il, than rny self tor
can any one more sensib} EEL tho aide spread
blight, which has suddenly blasted the hopes o 50
G4any and precpitated thousands from affiuencc
to poverty. The dcsolatIon has fallen mauly On
fE - A
held in the high hest estimation. No country ever
had superior body OF merchants Of higher honar,
Of more daring enterprise, Of greater skill and
energy. The ruin OF such elasr IS heav, ca
lausi,y, and | am scIcllous among other things, To
give such stability to currency, as to prevent
the recurrence OF similar calamity hersaster.-
Bat It was FIRST accessory, in the ordst a things,
that We should determine what sound policy, look
ing TO tbs future, demands TO be done, at The pre-
sent lunctuGe, before consider ghe question Of
relief, which, urgent a. Il nav be- is snbordi-
nate gza must yield 70 the former The patient
lies under a dangerous disease with a burning
thirst and other symptoms, which distresses hun
more tan the vital organs which ars attacked
The shiiinl physician first makes himself master
Of the naturs Of the disease. and then determines
on the treatment necessary Ter t6e restoration Of
health. This done, he ueN' allsviates the distress
sing symptoms as far as is consistent with the
restoration Of health and no farther. Such shall
/ he my course AS far as | possibly eau, ron.ist-
entity with the views entertain, ald what | he
believe to DC accessory 10 restore the body pa,ltlo
to health, | viii do every thing in my power TO
mitigate the present distress Farther cannot &c.
After the best reflection, am of opinion, that
the Government can dc but little in the way Of re-
/ liei; and that ii is case which a,ust be manly
lett 10 ths constitution Of the patient. who thank
God is young, vigorous and robust, With consti-
tuition sufficient 10 sustain and overcaals tie Sc
>erest attack | sreaG the doctor and his drugs
I much more than the disease ITSELF The distress
OF the country consists in It's Indebtedness snd can
~ y be relieved BY payment Of lis debts. To ef-
feet this, Industry, trucatty, economy and time,
are necessary. | rely more on the growing crop
On the celten, rice, and tobacco of the south,
than all the projects devices Of politicians. [
am utterly opposed to all coercion ct this Govern
mest But Government may do something to re-
lIevo the distress 1t ID out OF debt and is one Of
the principal creditors both Of the banks and OF
the merchants and should set an example of hb-
eral indulgence. Tris am wiling 10 give freely.
am also prspsred TO vote freely the use of Co.
vernmtut credit IN some s.s form, TO supply any
de Gcit in the circulation during tho process Of re-
euvesy, as far as It's financial wants will permit
! | see not what more can be safely done. But my
vision may be obcuse upon this subject Those
who differ from me, and Who profess so much sym
patty for the public, seem to think taas much re-
lie may he afforded hope they sill present
their views, ! aui anxious TO hear their nreserip-
lions, and | assure then, that whatever they may
propose, tilt shall promise relief ald be not ircon-
sl>teRt with the course which deem absolutely
necessary for the restoration the country to per-
feet health, shall cheetiully receive my support
Thsy may be more keen sighted than am, as TO
the best means IS relief, but cannot have stronger