The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-09-15
MESSAGE

10 The two Hunses of Congress, al The commence
ment Of the 1T session Of the 25Ih Congress.
lopeiiisens Of the Senate,
aud House Of Representatives.
The act Of the 23d of June, 1896, regulating the
depostes OF the public money, aud directing the
employment Of State, District, and Territorial
banks for that purpose, made il the duty OF the Sc.
cfeiary OF tue Treasury to discontinue tho use Of
such Of them as should at any time refuse to re-
deem their notes IN specie, aud 10 substitute other
banks, provided sufficient number could bo ob.
tanned TO receive tbs public deposi,es upon this
terms and conditions therein prescribed. The e.
neral aud almost simultaneous suspension OF spe.
clio payments by The banks IN May last, rendered
the performance Of this duty Imperative, ia Ies-
peot to those which had been selected under tie
act aud made II, a, the same time, iapracticaLlc
10 employ the requisite number oil others, npun the
prescribed conditions. The specific regulation.
established By Congress tor the deposi,e and sale.
Ae,ptnE Ct llie Pnbio moncys, having thus unex.
Peetedly become Imperative, ielt Il 70 be my du.
" 10 ahnfd you an early opportunity lor the exer.
ciss OF your supervisory powers over The subject.
was also led to apptchsnd that the suspension
o'specic ymen,s, Increasing tbs canbarrassmenis
before existing the pgcuiary aiFairs Of ihe coun.
try wooid Tar diminish the public revenue. lha,
The sccfusg receipt. into tie Treasury would not,
Nilh the reserved tve millions b. Sufficient to de
Tray the nnavotdable expenses Of Tia Guvurnmeni,
ua'i tac usual period Tor ths meeting Of Congress
whilst tbs aulbr-ty 10 cal upon thr States, icr
portion Of the suns deraslgcd RitA them, was to1
restricted TO onabir tbs Department 10 realize suG
hcicnt amount from tl1t source. Taese appfc.
tensions have been justified by subsequent resuis.
which render y ceti4iu that liis deficiency viii
occur II additional rcaus be not provided b.
Congress.
The d,iiieuhics experienced b. the merr sutils
interest, IA meeting 0s.ir engagements, induced
usstn "a apply 70 Ue, pfcs asiy T. the actual suF
pension II specie pas aseuts, ier istuisrres upan
theI bonds tur duties ard ai the frlsag auihotlged
ly las was promptly ass ei'scfiully granted. Ths
dependence of TIA 1trasury Bpoa Use syails 81
,hs7 e7ri-. u euah q ~ niake The Grl,aics with
lhe S'aies rsqofrcd ~ se, led me a. BE oaue, u
Husu tfs indulgcHt. g. tha first 81 Srpfeusbg,. bot
q ss since besu ss,en,f 81 tbr Grst Of i,,.,r
Inst tire yaflt ti. sl 4, Submitted 70 Yesr further
.iartson
Qaestars esto $50 expected 70 sr.se Is be n.
rs~~. 10 respgr la lbf talr-r 4IHrNi ~ uso.
iepasttes, qauu & ihs .terers .tau = tongfr,~.
4 provision ~ aur,yt se,. passed 4baut tie
safBf tame, snt iHtrrd.g ie fceaFy 'tltht8 CON.
p'tauce With ttc ahtsats-a n 'ts u.ic4 States.
"a salisiy a drigaHds ppaa ihctn s,eg.e ~ So
rQnivairai. rfohlltfta ne vtef " Any Jsak rq,c,
8at convertible 11 Ihs fp} i4f1 rnid or sitycr a
Ias slli Of tic iia.tct aHd th~ nalty af tho GO.
.sfumsut, wHh Udlions ga egafiic, e. r.trt IT,
at euseuts 90 t.8 aaaEef ihu. reqasfcd by law,
~ tre,isted sssy doubtful b. tbc .ca, 10 ahieA
hsvr +, sfr4
@ans.h tiat aat lusfe pr1ya4gps ~ taess IN.
rpeetsJ esiaehrrrs ,o8.I a1ls hs a.as IS Ton.
Etess ruut eeea that sssias ~ stem wau'8 be IS.
asfsusahtg netesssTy so the pab,r sslplrr, before
Ia .4.as pvtt4d ~ YHfs meeting aga trst'ups
ataa euah5c yasi lo sasretse. a. 700 aafhesf mo.
nout. f-us gs8 constitutional powers 81, ih4 10.
itet I'D shr cnontrv. ! rould ua3, ssh, psnpiteiy.
ayeld egbst'iar yoa TO tbs Inconvenience 81 a..
sgabliog = eats a. day IS tbc ststc q lse popu
iaf runfrssa's tlar sogia 2efnlH | Am sptg lhat
have Lsrs ia lasirs 70 you; feelings, bsiity.
TX ttsl i,fss sentence wtil te rheeF'ully rH
asaptgrd. 10 sae aops q rsataurE Yaat msslinE
.ab3ueUe lo Use rasi 81 Sic csantty
prfIng 'ho eatIfrf stages q. tac frvals.an lhfe'
Yblch e z have iasi yasssd uiuel .sfiponIuu. DE.
raes.oa afosq, aut great uigsry u pgsuiUn exist.
J. ssta ~ real c.atss. Tbs aAsuol surprising.
Tbs oi<rieHs teth are 6iretuHed, a1d lhc
.stlnenerr 8 hteh frt tncm ~ numerous, and al.
lsn $ satiIe tha' even IMPARTIAL aad ueii inform.
e peresrs atr seldom loprd "a agree n rssp~ci 10
hfu Totahcfrot difficulties wctu she aided 9th.
II Tendencies. wbleH rtc By 20 means favorable
% tee discovery oil tfuth Il Nas lafdY To- be- tK.
rete8, ihat tsss-a 30 disap7royed tbs policy n
1et,oyc+rmeht lH relation a. I've currency. soad,
in iss etsltcd slate 81 public feeling ttadocedhy
~ 5r,s9tan. fsIi - attribute q last I'alirF any
ntenatfr enhancement IN i.e monetary alaHs
! az country The msiler ttias beesua connect.
d atth tbg D8ssians ard cet tlcsv 81 PARTY opip.
us wefr a.nre csa affected ~ pe4iiesi coo.
e,aefa'igrs and differences $ IRE PtyIahsed ahteh
niti haN eiiefwfse been Determined hy 90 az.
.rslfo lsrs. IS fte eyerctsr IF reason, hl no.
4aI erpe, s4ap Il III however, n cruug rs'ltc
to4 that circumstances =, tfia naiufp taau0' prs.
t,al e5asenatly 20 infr.h~rut Is uufs irsu ulii.
pat6 81 aft3stne al etrfett conclusions. lacoar.
gtd bg tbs arm ttlicfof tbis truth, rtrseed 70
.t,ga ~ ,trvs 81 ar ~ may Be- ncct safy 10 a
elraf u4defsi 4ndtur &c ihr ftnedlgs feel q ny
dpty q propose, and 81 the reasons s. which
hRye hete lsd 20 recommend lhrln.
Ta- t,slory Of trade N ito Unfed States for
iht lsst three rar yrata, sfalds the most con.
pirs,nr eyalepre HAT orr present cortiitnn 81
stthy g. - autthned Is nyrr-arfi1u Ia ell tie
departments q business an over action dctiysng,
perhaps. - first pppulses from snieecdent eaus.s
BOT stimulated TO ils Destructive consequences ~
c1cessiyc issues of hInk paaer and other a5iiiies
Tor thu acquisition sud enlargement az credit ~
The commencement Of thr Frsr lrlt tbs Ranking
capital 81 the United States, including that 81 lhc
raliouai bank then existing amounted 20 about
tao hundred millions of dollars She h,uk uotes
thsn IL circulation TO about ninet, .fyc millions /,
and the loans and discounts of thu banks 20 three
hundred and twenty four millions. Bclwcen that
time and tho dtst of January 1856, bciog Tho Ia
test period to which accurate accounts have been
received, our banking capital was increased 10
moro Than two hundred and 1ay one millions, our
10 tt1n re n sd