The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-05-12

1mp0Fianis n rrhppars NAr h@nhT - ~"
men, When lhs banks more than sssr
need an ihrir mesns. II makes he asF-
chant unable 70 remit, when rsmiilanee
: Necessary Cor his o~a credit, aDd for
The general sdiussmeni 81 eonmsFeisl b.
lanees. =,
am not nov discussing The general
question, whether prices must mi come
dawn. and adjust themselves anew. IN the
amount Of hullion existing IN Esrope and
America. | am dealing only With ihe
measures of our oHn government. On The
subject of the currency, and ] insist that
lhesr measures have been most unioFIu
nsle. and mast ruinous on The ordinary
means 0f aur circulation. Al home. and
on our ability nf remittance abroad.
Their effects, mo, BY dfranging and
misplseing The specie. Shirh - IN The
country. are most Disastrous On domestic
exchanges. Let hlm vim hss lent an
ear 10 oil lhose promises NJ more UNI.
form currency. see how he can non sell
his draft on New Orleans. ar Mobile
Let the northern manufacturers aud me-
ehanics. ihnse who have s"ld The pro-
duets nf llleir lsbnur 20 ihe South. and
heretofore realized The prices, aiih lI'Ile
loss III exchange. let them ny pressni Ia
eili,ies. Let them see what reform at
The currency has d"ne for them. Lri
Them inquire, whether IN this respect
their rondlllon j. better or worse than u
vas fve az SIX years ago.
Gentlemen, | huld this disturbance Of
the measure III value, and the means ri
payment. and exchange, this derange-
meni. and. il may 90 say, this ti"laiIon
uf the currency. to be one Of the most
objectionable oi political faults. lie who
campers with the currency, rohs labor Of
Us bread. lie psnders. indeed. To gree
DIV capital. which is kesn-slghIed. and
may shift far itself; but he bsggaFs labor,
which is honest, uDsuspeciing, and too
busy with the present 10 calculate on the
future. The prosperity Of The working
classes, lives. moves aud has lis being IN
established credit. and q steady medium
Ol payment. Al sudden changes destroy
il. Honest industry never comes IN ior
any part Of the spoils IN thai scramble
which takes place. shen the currency Of
a country is disordered. Did Wild
schemes and prnjecls ever benefit the ~.
dustrinus! Did Irredee mable bank paper
ever enrich the laboIIous! Did violent
AucIualions ever do good to him. who
depends on his daily labour Tor bis daily
bIeadl Certainly never. All these things
may CRAFTY greedIness for sudden gain.
or The rashnsss Of daring speculation: but
they can bring nothing but injury and
distress to the homes Of paIlen. industry
and honest labor
Who are they that profit BY the pre-
sen, state If Ihingsl They are 10, the
many, but the few. They are specula
tors, brokers. dealers in money. and lend
ers Of money. at exorbItsnI interest.
Small capitalists are crushed, aud their
means, being dispersed, a. usual. in vsri-
Gus parts Of the country. and This mise
rsble policy having destroyed exchanges,
they have no longer either money or
credit And all classes Of labor psrtake
aud must psriske in the same calamity.
And what consolation for all thlsi IL i,
that the public lands are paid Ior in 'pe-
Gle! That Whatever embarrassment and
distress perysde the country. the western
wilderness Is IhIckIy sprlnkled over with
eagles and dolIars! That gold CUES week
~ from Milwaukee and Chicago TO DE.
troit, and back again from Detroit to Mil.
waukie and Chlcago. and performs simi.
lar ieais oil egress and regress IN many
instances in the western states! II 10 re-.
marksble enough. that with oil this sscri.
fee Of general convenience, with all this
sky-reDding clamor for government pay
ments IN specie, government ailer all, ne.
yer gets dollar. So far as ! know. The
Unlted States have not now q single spe.
Gle dollar in the world. II they have.
where is ii! The gold and silver collect
ed at the land Offices Is sent 10 the depo
site banks, il is there placed TO the credit
OF the government. and thereby becomes
the property Of the bank. The whole
revenues OF the government, therefore.
afier all, consist in mere bank credits;
that very sort Of security which The
friends Of the administration have 60
much denounced.
Remember, gentlemen. in the mids, Of
this deslcning din against all Banks, tina,
II IL shall create such panic, or such
alarm, as shall shu. up the Banks, it will
shut up the treasury Of the United States
also.
Gentlemen, l would no, willingly be a
prophet Of i'll. | most devoutly wish TO
see better state of things; and believe
The repeal Of the treasury order wopld
tend very much TO bring sbou, that better
state Of things. And am Of opinion,
gentlemen, that the order will be repeal.
cd. ] think IL must be repealed.
think the Fast Wesi No,,h and So,,h