The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-03-24

ciety least abe 20 bear II. portion oil this Sur-
rency frequently becomes deprecated or worth
less and a.. OF II easily counter'eited, ~ such
manner as 10 require peculiar skill and much ex-
perlnce 10 distinguish the counterfeit from the
genune note. These frauds are mot generally
perpctraledin the smaller notes, hlch are used 10
the daily transactions OF ordinary BUSINESS and
the losses occasioned by them commonly
thrown upon ihe 4boring classes OF society, whose
situation and pursuits put Il out OF their power 10
guard themselves from these impositions, anu
whose daily wages are necessary for their subsls-
tence Ii is the duty OF every Government SO 10
regulate rs Currency as TO protect THIS numerous
class As lar as practicable from the impositions O
ayarlce and fraud. II is more especially the duty
OF the Unl,ed States, where the Government Is en-
phatIcaly the Government, OF the People, and
where tins respectable portion Of our cilzens ar
50 proudly distinguished from the llborlng classes
81 all other nations, by their independent sprll,
their love of liberty, their Intelligence, ard Their
high tone OF moral character. Their industry, IN
peace is the source OF our wealth and their brave
rs, m VAR has covered us with glory; and the
Government OF the United States will but Ill dis-
charge It's duties ii II leaves them prey 10 such
dishonest lmposilions. Yet 1t rs evident that their
interests cannot be effectually protected, unless
silver and gold are restored 10 circulation.
+ These views alone OF the Paper Currency, are
sufficient TO CAL for immediate reform; but there
/ Is another consideration which should still more
+ strongly press II upon your attention.
I Recent events have proved that The paper mo
ney system of this country may be used as an en-.
CINE to undermine your tree lnsiItuliocs aud that
those who desire to engross all power IN The hands
of the few, and TO govern by corruption or force,
are aware OF its power, aud prepared to employ II
Your banks now furnish your ouly circulating
medium, aud money is plenty or scarce, accord.
ug 10 the quantity OF notes issued by them
v nile they have capitals not greatly dtsproPof-
toned 10 each other, they are CO, pt.lnrs ~ busi
ness and no one OF them can exercise Dominion
over the rest and although, IA The present STATE
Ut the Currency, these banks may and DO operate
inlunOusiy upon the habits Of business the ptcu-
MARY concerns, aud the moral tone Of society :,
vet, IRON their number and dispersed situation,
they cannot combine tor the purposes OF political
influence and whatever may be the dispositions
OF some Of lheui their power OF mischief must ne
cessarIly be confined 10 a narrow space, and itlt
only IN Their Immediate neIghborhoods
But when tbe charter Of The Bank u the United
States obtained from Congress II perfected
the schemes Ut the plPer system, aud gave 10 lIs
advocates the position they have struggled To %.
%
vernment down 10 the present hour. ine In.
nense capital, aad peculiar privileges bestowed
upon a. enabled II 10 exercise desputil sway over
the other BANKS 10 every part oi the country
From It's superior strength, It could seriously ~
jure. il not destroy, the business OF any one o.
them which might incur us resentment; aud u
openly Claimed tor itself the power OF regulating
TIE currency throughout the Uuned States. IL
other words It asserted and II undoubtedly pos
sessedJ the power 70 make moat, plenty o. scarce,
at lis pleasure, al ans time Or "a any quarter u
The Union, by controlling the Issues OF other banks
and permitting The expansion, or compelling 4
general contraction, OF tue circulating medium,
according 10 It's own vii. The otuer banking IA.
sttutlous were sensible Of I,s strength, aud they
soon generally became It's UbeGIenl instruments,
ready, al all times, to execute Us mandates and
With the banas necessarily vent also, that nu-
rlefUrs class % pc6-pn- 20 o"f commercial cries
who depend alto. ther on bank credits tor their
solyency and means Of BUSINESS; and sho are.
there ore, obliged, or their o"n safety, 20 ptnPi-
tale the favor u the money power b. distinguished
zeal aud devotion IN is sci, &C. The rlsll o. "a.
Ill ADVISED legislation witch established ths great
monopoly va, TO c0nceltT4te the abuc money "a
power o the UnIJa, eilh It's bOundiess means oil
corruption, aud lis numerous dependents, under
tie direction and command OF one ackB5~ yed
head; thus Organizing thus particular Interest a.
one body, and securing 10 1t unity and concert ui
acton throughout the lulied S.ates, and enabling
il to bring ~4fd, upon any occasion, ITS cntl:e
auI Undivided stfeugtn to support % defeat any
MEASURE OF the Government Ia the hand Of THIS
formidable power, thus perfectly organized, vas
also placed uniIlted dominion over the amount
OF the circulating medium, giving At the power 10
regulate the value OF property and the fruits Of
labor 10 every quarter Of the Uni0u aud 70 besiO~
prosperity, " bring rum, upon ay city Or section
OF the country as might bvst cJnpUrt with It's oen
interest ~ policy.
~ are hot Ieit 10 conjecture how the moneyed
power, thus organized, aud ~ith such weapon ia
IT. hands, would be likely ~ use It. The distress
aud alarm which petyaded aud agitated tay whole
country, when the BlnA ui the United States way
ed var upon the people, ~ order 10 compel them
10 submit to is demands, cannot yet be forgotten.
The ruthless and uaspafIEg temper with which
whole cities aud communities were oppressed, m
dIgiduals Impoverished and ruined, aud a scene
Of cheerful prosperity suddenly changed int one
OF gloom aud dependency, ought 70 be ndellbly
impressed on the memory oi The people Of the Uni.
ted Sales. II such vas Its power IN a tune OF
peace what would II not have been Ia season
Of war, with an enemy at your doors No nation
but the ireemen Of the United States could have
come out victorious from such a contest yet, II
you had not conquered, the Government would
have passed from the hands Di the many 10 the
hands Of the few and this organized money pow
n, from rs secret cOuciaye, would have dictated
the choice OF your highest Officers, and compelled
you 10 make peace or war; best suited their own
wishes. The forms OF your government might,
Tor time. have remained, bat 1t. living spisii
would have departed from II.
The distress and suferlngs inflicted on the poo
pie by the bank, OF the fruits Of that sys
: ten Of policy which Is continually striving To en-.
z large the authority Of the Federl Government be
. auud the llLnIL. hxed hE Inc GnustlIutlnn ,Iu1