The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-06-02


depositcs, which amount To-, 69l,S60 80
The security of ass'ts to 81 ,59099s II
Liability OF Stkholders, 100000 90 3,l99,99S n
or nearly s. for every one owed by the Bank.
No reasonable man can desire better evidence
than the above. The Banks all state that the sus.
pension will be temporary, having been compelled
to adopt the measure one Of selcdeience, caused
1 BY the suspension Of the Northern Banks.
49,
01- The Better Currency.-A FACT
The Boston Atlas gives the following as one of the
many instances Of the baneful operations of the
experiment" on tie poor:
/ An elderly and respectable female, in reduced
circumstances, presented yesterday in the market
a twenty dollar note OF the Planters Bank OF
Na;chez, one Of the Opposite Pet Banks. 1t was
all the money she had in the world but she found
that /; would not buy her pound of beef I'm.
der these circumstances, she applied 10 one of the
men of whom she had been in the habit of making
little purchases, for advice.
She told him that she was poor and chiefly de.
pendant on the pecuniary assistance she received
from her son, who was settled at Natchez and
who had been in the habit of making her such
small aud occasional remittanccs as he could spare
from the results Of his constant and laborions in.
dustry. His last remittance, which was all the
money she had IN the world, was this twenty dol.
lar note on the Planters Bank He had no other
way OF renting than by mail-snd the best cur.
rencv which he could remit that of a Depos-
lie Bank. Deceived by the false promises of the
Government, he probably thought that this bill
would be redeemed BY the Pet Bank 10 this city
The !Iicnd 10 whom she applied, took the bill TO
one of the Deposite Banks, and asked al what dis
count it would take the bill. The answer was,
that Il could not take it at any price. Being thus
driven to the Brokers, the reply was, that for the
l7rwrNry DOLLAR MOTIF. n they could afford to
pay hlI ~ FIVE DOLLARS ~ Thus Is poor and
destitute woman, by the mere action Of the En-
ecutiyc, defrauded oithree fourths ola sum, which
however insignificant was to herself of the utmost
consequence, inasmuch as il was her all. Thus
It is not merely those who have "earaed nothing"
and therefore OUGHT TO SrARNE"-n the
language of the Globe-who have been stripped
and plundered BY the accursed policy of Cabinet
Of sW indlers and vagabonds--but the honest and
llborions rooR--,he very class interested above all
others IN the preservation Of 4 sound aud uniform
currency.
Even in this State the pet Bank " refuses the
votes Of the " Pet Bank Of South Carolina. Was
Tie U. 5. Bank notes ever refused. We imagine
OF the Government--bu, under the equal cur
tency " Of DR.. Jackson, loss is 10 be sustained,
not by the rich, but by those least able to bear it,
"the poor " OF the country. 1t was one of the
proudesl of Gen. Jackson's boasts, says the Rich
nond Whig,) that he would equalise the currency
OF the country. Upon which it mas been well
said, by who often speaks 10 tue point that this
is the only promise which the old hero ever Kept,
He had indeed equalizsd the curreney--not by ex.
alting the value of the bad, bu, by bringing down
the good, until all was equally worthless.
"TuE POSSESSION OF PROPERTY IS TIE
PROOF OF MERIT"
The above extract from the report of the New
York Committee, appears 10 have caused some OF
the Van Buren prints some unoasness, and they
have taken up the idea that the Merchants were
DESTROYS Of draping broad line of distinction
bet,0een TIE Rich and Poor, ,ohich ,Could cause
state of affairs dreadful in the extreme" Nothing
can be more erroneous, in our view, than such
construction as this. The meaning of the word
" MERIT" according to Webster's dictionary, is
desert, north 10 earn by se,rscss." Ifthis is the
true meaning, is not the POSSESSION OF PROPERTY
THEN, IN A MAJORITY OF CASES, THE PROOF OF ME.
RIr| Is not the encouragement bestowed upon
the Merchant, the Mechanic, the Printer, &c, in
great measure the reward of" MERIT" Then,
they succeed in accommodating property, is it not
of property ITSELF but from the conduct of the indi-
vidual. We think so most clearly. And why do
the Committee say "that in majority of cases
the possession Of property is the proof of merit'
because you were born rich No. Why then p
BECAUSE IN A COUNTRY OF FREE LAWS AND F.
QUAIL RIGHTS, PROPERTY, AS A GENERAL RULE,
CANNOT De ACQUIRED WITHOUT INDUSTRY,
SKILL AND ECONOMY" This may be very
good trap to catch gulls, but no rejecting man
be taken by It, and h:sis not the hrs time that 1.-THE
party" have attempted to draw a distinction be-
tween the Rich and the Poor.
$500
e. The Milton Spectator says, in rela.
ton to the Committee from New York, the Report
&c, that 1.-THE whole of this affair was gotten up
merely for effect, to humbug the People into the
belief that the course pursued by Gen. Jackson,
ed in by Mr. Van Buren,, will plunge it into utter