The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-03-17

E&WXNAtM
and anspanbg temper wlih smrir vhuas
eisies ssd communiliss we're imposensh
"a and ruined, and . scene oi cheerful E
prosperity Suddenly changed into one q
gloom, and despondsncy. ought 70 @
indelibly Impressed oa de memory Of ihe
neoule Of ihe Unilsd States. u such
was ils power 10 . time o. peace. whaL
would Il nea have been IN . season q
wsr. with an enemy 81 your doorsl NO
uasion bus she freemen Of The United
States could have come sui siciorlo"s
frnm such contests vet. Il yoa had NOT
conquered. The Government w"uid have
passed from the hands az The many 70 NE
lev: and this organized money power.
from lis secret coaelaFe. Woald have
dictated the choice e your highest ON
GERS. sad compelled yon 10 make peace
or var. ss best suited heir wishes. The
forms &c yonr gosernmeni might. tor
lime. have remained; boz rs living spirit
would have departed from IL,
The distress and snifenngs inflicted On
The people by The bapk, are some 81 'he
fruits Of shal system 81 policy ahlch -
continually STRIVING loenlarge he author
NV Of The Federal stiarernmem beyond
the limits liked by The Constitution. The
powers enumerated IN lhal instrument do
no, confer on Congress the ughl Ia rs.
sablish such corporation as ths Bank 1t
The Unised Slaless and the evil conse
ouences shich FOLLOWED may yarn Us If
The danger Of departing from the rue
rule Of construction. and Of permitting
temporary circumstances. m the hope Of
better promoting me pablo welfare. N
iatlusnce. in any degrse. our decisions
upon the extent &c the authority OF the
General Government. Lei Us abide by
the Constitution as IL is written. or a.
mend ii in he constitutional mode, Il u
is iaand n be defective.
The severe lessons Of experience will.
| doubt not. be sufficient 10 prevent Con,
grrss from again charlering such mo-
n0poly. even II The constitution did not
present an insuperable objection le il.
But YOU must remember, my fellow cIIl-
gems. that eternal vigilance by the people
Is The prlce OF liberty; Ina, you must pay
the price lf y0u wish to secure the bles.
sing. II hehooyes Won, therefore. 10 be
wachful in your States. as well as IL The
Federal Government. The power WHICH
the monsyed interest can exercise. when
concentrated under single head, and
with nur present system Of currency. was
sufficiently demonstrated in the struggle
mad. by The Bank of The United States.
Defeated IN the General Government, the
same class Of lnirigurrs and politicians
will now resort To the States, and endea
YOUR To obtain there the same organlza'
tion. which they tailed 10 perpe,uaie IN
the Union; and with specious and deceit.
fol plans Of public advantages, aud state
interests and state pride, they will en-
dra uur tn establish. IN the different
states. Uns moneyed institution With over
gown capital. aud exclusive privileges,
sufficient I0 enable Il TO control the Ope-
raums Of the other banks. Such an IN
suIulIon will be pregnan, With the same
evils produced bv the Bank OF the Uni
ted States. although ils sphere Of action
10 more confined; and in the state in
which IL is chartered. the money power
will be able TO pmbpdy its whole strength.
and To move together with undivided
force. to accomplish any object il may
wish To attain. You have already had
abundan, evidence of lis power 10 lnhIcl
injury upon the agricultural. mechanical.
aud labouring classes Of society; and
over ihose whose engagements in trade
or speculation render them dependant on
bank iarllllies, the dominion ~ The state
monopoly will be absolute. and their ODE
deace nnlmued With such bank and
paper currency the money power would,
in lew wears. govern The stale and con-
troll its measures; and if a sufficlen, mum
Der OF states can be induced TO create such
establishments, The lime will so"n come
when il will again take The field against
the United States. and succeed in per.
feeling and perpetuaudg us organization
by charter from Congress.
1t is one Of the serious evils Of our pre-
sent system Of banking, that i. enables
one class Of sOciely--and that by no
means numerous one--by its control
over the currency. 10 act injuriously up
on the interests of all the others, and TO
exercise more than lie just proportion Of
influence in political affairs. The agri-
cultural, The mechanical, and the lshorinQ
classes. have little or no share in the di.
reciion Of the great moneyed corporations;
aud from their habits and the nature oil
their pursuits. they are incapable ofform
ing extensive combinations 10 ACT togeth
er with united force. Such concert oil
acIIon may sometimes be produced in 4
single city. or in small distric. Of coun-
try. by means Of personal communication
! with each other; but they have no regu-
lar or active correspondence with those
who are engaged in similar pursuits IN