The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-12-01

rieif ~ - 10 s...sss aad a..d .n,;,,
40 msr d eapas, sosld aake !. -
iasrsuneni go. 80 large sum !.
gusts bank bills. .nsks demand W - =
then iill me bank EssUmes s,.r;. -
mrals. VT n'.b"siy Iass fl,l.; ss5 =
Bscanst llaey are al lriehdly "a A.
No, :, ~. sir. IL i becabss lI,s
frigsia,ed a. q rifar effis roaaorss,. =
aud Weld tar'r own n The inlersrs = 4
conmUnl;,. 1'h~s know Il sptrie -
rcd fro,a lie hslks. he banks will h,,-.
inrce a lIam Ne nssaehsnls. aud ~ -
chants from iLt planters aid n, -.
mass n consDmsrs; and before he -
j. w..rnd W, il ~ti.rls Wauld BE- so.,l !.
Ire ecniise.lIon ii ore 'hiId IL he or
- Of eoonIry. The istaFiaus ,,i:'
t.ssiTlous glasses r"nssI'H'e the .itb,o,s,.s
--ahIehsre n,geh l'as m''sl hnlf,srou. -
,Gseh the msss Bsedy. o. aLls e :. a.
= enhce aasiI uiI''nslel, fsil. Tie t.
iii would be ."i.le I'D 10 lev rr.,,,,a.
capitalists. and a.,i.ey-l.hder.. AnsG.
mss.trs sau PFatase said Mr. X. IN
operate preetseiy ~ lhr magutr | =.
dcser BIRD, dough perhaps 80, ln Il.r s..'.
exlenl. snl do to lalk ahont and ,pr,s
aboui here. end'snne Prnpls NAV ,l,,I
well Of IL whilst ,hsy Ikink ~ - oply
lug 10 pot the merchants 10 lilIie ,rsi:
bat Nhsn they 6nd. iron enp,urso.
that the merchants are only ihir faclg,,
aud the operation falls on them, Me,
be prepared f"r more PIaelleal viss J
thr subject.
Mr. X. said he Vas. 10 be sure, opDs.
ell To The bsnk'ng system. parIiculatiy IN
abuses. Bm the people had eslatir.h,.
il. become accustomed 10 IL, and !. NJ,
seemed uerssssry In their business All
prosperity. lie saw n0 reason or ELI.
dmncy IN taking away the discretion q.
The SreIslsIy Of Ihe Treasury To Isc,n,
lhe notes ol specie paying banks xhs,
they resume, jisbsIss them Tor Gu,sr.
menl purposes al the po,nls where coI.,.
tad, and rall on the banks Tor baIasrs,
whrn necessary inT transfers Of ,lie "a.
vsrnmrn, funds ICON he points whsr,
collected tn The points where needed.
Mr h. hsre cOnimrnied up"n ihs q.
Inmates shich the Senslors from Ml..o i
n and y. Carolina had pul upon ctnss.
bat.k bills. aud the losses which The bl
holders had sustained by the SUSPENSE
Vi specie payments. They seemed II
estimate the actual value OF bank bill NJ
the proportion which the specie IN d.
vault. ii Ihe banks bore 10 The sggrg.s
"f circulation and deposi,es; as lhOusL
the bsnks had no other means 90 pay tht.|
l,sb.hnes bui specie. Ia this way hes
nalors make out lhe loss vi The people N
tn banks 70 be immense. Could ih.r,|
he ans advantage in propags,ing euUn|
90 PaIpabIel Az a practical QUESTION, ID
Isr from the bill-holdefs having lost, Tied
had generally gained By The su,pHsiOaI
Mr.. X. here discussed the nature and
purposes Of money. Money, said b,
represents commodities. lis uses are d
comDand them al pleasure, and ciEuls.
them with CONVENIENCE. Whatever al
swers this purpose. Snswert The purpcsu|
Of money. It's roiu. depends on M
quantity d cOuImodi'iss IL uiii con,mcnt,|
and this again depends on The Taa'ia
rhieh The quantity Of money bears 10th
quantity Of commodities.
The active circulating medium has bees
greatly reduced in quantity since the .u'-
pension. not onfy BY withdrawing spec,
from cireuls,ion. which has become i
Commodity, bu, by reduction Of b'ss
paper, and hence il is that current bani
paper is nnw much more valuable ltaA
gold and silver, wds before the suspenslOr'
Wills, the whole currency, both psps
aud specie, vas deprecated by its ttCr
danl quantity. Are the passions IN!
prejUdices of men TO he wrought ora
when their senses may direc, lhsm' "
we no, know ss an admitted fact, ih''
current bark bills are more valuable ncs
than before The suspension! L., me at
one of these suffering bilI-holder VITA
he wishes to do with his money whl'a
he held III the time Of the suspsn"Oh'
Does be owe a debIl II so, his rrrdTO'
will be glad tn receive il, and exPses no
thing else. Does lie wish 10 b.! Pr''
visions for his family! II, 50, he gets it'a
cheaper than he could before the susid
sion Of specie payments. Does he VII
TO buy real estate or stocks! II so, NJ
can get them from 30 to so per rea'
cheaper than he rould beiare the susFf
sion Of specie payments. In short 'h'''
Is no purpose for which money is usea
Tor which hills are not nov more vsluap"
to The holder than before the suspt'slOa
wlll., the whole currency vas dePreti'''s
BY lis quannry. except for the Payme@o
IUreIgn debt. Those, then. who cIaiDO'
most about ,keir losses have lost noihng
bul generally gained. The merrh'ns
sustain the whole loss tba. is susIaFea
A u -. II