The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-11-03

% Na1th GsTalina Who SITS near
Sas misunderstood by me, or Il has
Sen misardersla.,d hy Others, uIlh r.
gar - me rarracy Of bank Roles. lie
hss heen supposed 10 have sid. thai bank
na'ss nae Ihsir whole currency 10 their
beng reeei,abie 10 debts 70 Ibis Govern
n~n,. | d,d Ros 50 usderstand him. and
! 4 no, admit ihe ruth 81 the position.
I'arr PROFESSIONALLY owe the larger por.
ti.aa pfinrlr credit 10 This cause. but then
The. DERIVE a good parIion II their credit
lram Iher beng receivable in debts 10
the Sla,e GoVenmeals-iolhe eoRii1enee
which maay viii always have "a The
inssilunnns which issue Ihem-Io he
established custom Of Ihr country Whlch
has rendered Them curTenl-snd 70 ihe
eagerness With which every thing al al
AKIN 10 money is laid hold Of when otter
ed. lest nothing better may be presented.
and Ire chance 81 geiiing even IIlst has
passed away. These considerations will
continue long 10 sustain the circulation
Of snail nn'es, and many banks will find
IN ,ns profitable TO Issue them I" BE-
tempted by any prospect Of gain which
yoa hold ~; t. them 10 the plan oi the
Senator from Virginia To sbandon il.
Add IN this, that while you continue
your connection with hanks. you will ne
ver accomplish one ri the great purposes
Of legIslalion-publIc rep"se and quiet,
What Ne now d1, ought, Il possible. To-
b. veil dpne: ane il Is lar more lmpor-
lani than Thai II should be done hastily.
In Your partnership with the banks they
will always 6ad subjects Of complaint a.
gainss yuu, make one concession the
ground Of right IN. demand another, aud
Whenever refused 10 raise clamor which
will exci The elements Of political STRIFE
from one end Of the continent 10 The OH
er. 4
have said that il dies not belong To
this Government Id regulate credit AND
paper currency. and insist farther that
ii thls we're an absolute, unlimited Go-
yenment. IL would be expedIenI lar 1t /"
interfere AZ lille with such matters as
possible. In the first place il IS a SUBJ
iect Id whichnsiure herselfh has furnished
laws. few Of which are simple aud well
understood; bni many Of them are very
occult. snd scarcely perclptible. and the
most spacious mind IL incapable OF fore
Seeing the result even OF few of their
combinations. and must therefore acgHilh
great rsshness in meddling unnecessarily
with matters IN which greaieyIls may be
produced 10 tine end. without any well
founded confidence OF advantages IN anti
cipa,lon. The most enlightened wrlieEs
OF p,Iincal economy, 10 IN idern tunes, DE-
uounce the ignoranl quackery winch for
merry shackeled trade with nIulutarpus
laws aud regulations. and have discover
ed lnaI lredome is hsr element. Every
allempi 20. control her. dlminishes her
Freedom: ond those who are nov beseech-
ing Congress 70 take her under l,s spe-
cia! charge. Smld, e Iheir prayer were
grained, ere long discover, that when
trade, laws herself al the toDIstDul OF pow
er for pr,lecuon. she has deserted her IA.
tive element. has voluntarily torn away
the plumsge which sns'ains her IN her
prosperous A, CHI and having become lslnI
and languish,ug, will sigh vainly Tor the
return Of her health sed huoyancy. We
are Told too Of the value OF credit aud II.
conuecuun with freedom; aud u | nay
b. allowed 20 refer to a letter made pub
lie some weeks ago, comiag from a higt
quarter. will lake the liberty Of ssyln.
tha, clink 81 words and apparent beauty
OF sentiment which il contains, is caIeu
lated 10 bear away the public mind II
wrong conclusions. II rs there SAT-
..,hat credit distinguishes the free go
vetnment from the despUtIc," and la
connection in which the expression /
used, would lead one 10 suppose tina
the truth Of the senllmen, implied that q
keep nation free, you must MAINTAIN
credit. whereas tie real beniy Of The re
mard is found IN The truth being precise
ly the other way. You cannot make
nation free, BY giving her credit, but 20
can give her credit, by making her free
Lei us nol mistake the relationship {
freedom and credit; II is moi collateral b.
hneal; aud il is likewise important ths
we should not mistake the child for The pa
tent. Credit is The offspring Of freedom
not freedom the offspring Of credit. Go
fors.i that should be an enemy To ere
dit; but am DESTROYS to see na.ura
spontaneous credit resting upon SCUM
basis: not spurious. fictitious credit
swelling like balloon, with nothing bu
wind--as buoysn. and as. irail. 10
cannot legislaie credi, into healthy exls
tence: bu, 10 The attempt TO do so so
my give il ,emporsry plethora, deslIne,
to end ia apoplexy and death. CredI !
most delicate IN lts nature, and lew hand
a.aran,t.. anouafa Ia fntlrh a. Ihp slIghl