The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-10-20

~ ~a,,ld s. is hahilaal slair; i0r =
80 NJ government vas concerned. 4
80 y equal in every respeei 10 gold
- .,lye,. and superior N many; psriicu-
,.Iy a regulating The distant exchanges
= - eounlry. Should. hoseFer, de-
800 lor cold and silver lfpm abroad Or
- - s.e;deu.sl causes depress IL Tempo
s.,,v 4 compared with the precious
-. I, uould then return 70 the irez-
-, .nd 5 il could NOT Be paid aui DUR
sueh depression. H. grsdusl diminu-
= ,he market would soon resiare il
n ,ouslily, when il would again aow
=, ,o,o he general circulation. Thus
- void he constant alternate fox
"a ,efux into and from the treasury, be-
,rs.n !, and the pIecions metals; but Il
!, ~ time permanent depression IN is
ne. be possible from ans cause. the
- effect would be 20 aperate n re.
a,.,;,, az taxes On the eImmaniiy. and
.Ie.oaly sufferer would be the Govern
',.e., ilselr Against this. is own intel
=, would be . sufficient guarantee.
Ne,hiug bot experience eau determine
.t., smoani and Of whaI approximations
.m,g.. h. safely issued; but u may be
..Iel. assumed that the eonn'ry would
~. ,tb an anl uni greatly exceeding its
,,aual income Much ofils exchanges.
mich amount IN vast sum. - we'll ~
- h,.king business. would revoive about
i sd many mlllinns wOuldthus be kept
!. circulation. nayond The demands Of
he government. u may throw some
G,ht ~ ihis subject 81 stale. that Norh
C.rela,a, Just after the reFalulinn, issued
,ls,ge amour, olpaPer, which Was made
,.eiyahle IN dues 70 her. II vas also
rst!e a legal tender. bot which. ui course.
~.s 20, obligatory afIer lie adoption of
..s Federal Constitution. \ large amount.
-sv hssu .tq tsu' sa1 ise hundred Ihau-
f>ttrg temnaea 10 ere ala'inn after
s.4f .ar,r5 snt cot3Hgget - circulate lDr
a..se ,i.as beeasP srtrs 81 par with galii
.a., silver tgeas .h, laie time. with
q. s.3cr ajf+ eaS@E being received "a
.- e@.gr.e tn u which MAS narh
-. aan sl#1 "@ sagnm lspeak
- z7er.ora s4 ',nZens Of thai slate.
g sam .ta ee5. ~
h wha @@e B y be The amount that
G. ae cn4+ars hnid II clear. that
10 at an,a,8,- i sauii be as Stable m
ys'ue a. gu, ID silstr itself. provided
ths gavetnm-4r b. hound 10 receive il
sxesue .reir Nsss nose aelal. On all it,
dues, aad = se.. = e, p,.:i6etIy opI,nlal
with lhuse 49,, lave claims on the en-
retn nenl, I" rscrtre IL, W not. II vii
also be q necesssr, c0udnlon, that mites
Of Ton small a Denomination should not
be- issued. 81 that ths Treasury shall have
ample means To NEE, Ill demands, elpher
in gaIi ~ smFsr. ~ l1r oils Of the govern
neat, At she opt,oa 81 hose who have
CLAIMS ont With these eondi;ions, no
lurlher variation could take place between
II and gold and sll,rr, .naa that which
would be caused hy tn arlion nj cnm-
nerce. An unusual demand from abroad
Tor the metals would. nf course. raise
hen a little IN their relal,e value. and
depress relatively tie government bulls in
the sane prapoEl"n. which would cause
then TO INV iniu the Treasury, AND rolI
and silver To flos out; while Un the con.
trarv an Increased demand Ier The bill- IN
the Jhnsslic exchange would nave The re-.
verse eject, causing. as | have stated. al
alternate Aax aud refux into the freasu.
~, between the two. which would at all
Hnes keep their relative values al or neat
par.
No one can doubt that The fact Of the
"aFernnenl receiving and paving away
oaaS Mates ~ all lis fiscal Intersections.
ts one OF the principal sources of their
great clrculIllan, aud il vas manly on
ias, account tina, The mites Of the late
bank af the United States. so freely CIR.
eula'ed all over The Union. would ask
then. Why should the government m ngle
- credit with that Of private corporations!
~ me can doubt. but that The govern
mrnie Credits better than that Of any bank;
mnre stable and more safe. Whv then
'h'ald II mix ii up with the less perfect
credit oI those institutions! Whv MT use
us o~n credit To the amour, of Us avn
'aasaeiuns! Why should it not be si!e
10 us own hands. while il shall be coa.
"ae'ed safe IN the hands of 500 private
Institutions scattered all over the coun,ry,
anu which have no n,her object but Iheil
own private priii,, Ia increase which. the,
'''"!s' colsIaa,ly extend their bushes,
" me mast dangerous extremes! And
WY should the community be compelled
give S'xper cent discount Tor the 90
"fi'nsai credit blended with that OF the
"'pS'' whea the superior credit Of ,ht
s''rrnnsnt could he furnished separate.
" wl,h1u, discount. to the mutual advae