The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-11-10

majority o. tne Fcople q NC Ntt11
States ssand. II asking mar Rpan he
Banks. Iherefars. yoa wAee Esr apah ihr
People 81 lhe Union. II - mai mere
abstraction, that you wonld lick. and
cuff. and bankr1pl. and destroy. bui .
sensitive. generous. .eoa6ding people,
Who are anxiously turning their ewes
towards you, and imploring relief. Every
blaw that yoa inlet upon The banks
reaches them. Press The banks and you
press Them. .r-..+.
True wisdom. IL seems 70 me. requires
thar we should NOT seek after. il we could
discover. unaiiainable abstract Perfection;
but should look 10 what Is practicable in
human affairs. aud accommodate our le-
gisIalion 20 the irreyersible condition ol
things. Since The States and the People
have their banks. and will have them,
and since we have no constitutional
authority ID put them down. Onr duty Is
70 come 10 their relief when in embarrass-
ment. and 10 exert all our legitimate
powers 10 sustain and enable them 10
perform, in tie most beneficial manner.
The purposes Of their institution. We
should embark. not destroy. the fer,Iliz-
ing stream which sometimes threatens sn
inundstion. ----<
We are told Ihai il is necessary IN SCI
patale. divorce the Government from The
banks. Lei Us MT be deludei By sounds.
Senators might a. well talk Of Separating
the Government from The States, or frnm
the People. or from the country. We
are sll-People, Stairs, Union, Banks.
bound up and m,rrwnyen together. un-
lied 10 fortune and destiny, and. al. all
entitled IN The projecting care Of psren-
tai Government. You may As well
attempt TO make The Government breathe
u different air. drink different ~sisr,
be Ii. and warmed BY adilTerent sun from
the People! A hard-mnney Govern
menI and paper-money People! A
Government. an ,IificIal eorps--lhe ser
wants Of the People-glilering IN gold,
and The People themselves. their masters,
buried in ruin, and surrounded Nth rags.
No prudent or practical Government.
viii in It's measures run counter 10 the
long seliIed habits and usages ol tine Peo-
pie. Religion, language. laws. the esIab-
iished currency and business oil whole
country, cannot be easily or suddenly
uprooIed. Af'er the denomination Of our
coin was changed TO dollars and cents.
many years elapsed before the old me-
thod Of keeping accounts, in pounds,
shiIlings and renee, was abandoned.
Aud, 10 this day, there are probably some
men Of the last century who adhere To il.
II = fundamental change becomes necesss-
~, il should not be sudden, but conduct
ed by slow and cautions degrees. The
People of the United States have been
always paper money People. II wss
paper money that carried us through the
the Revolalion, established our liberties,
and made US free and independent
People. And If The experience OF the
revolutionary war convinced our ances-
tors, as we are convinced Of the evils Of
an irredeemable paper medium, it was
put aside only 10 give place to thai con.
ver,ible paper which has so powerfully
contributed 10 our rapid advancement,
prosperity and greatness.
The proposed substitution Of an exclu.
sive metallic currency. to the mixed me-
dium with which we have been so long
familiar, is forbidden by The principles Of
eternal justice. Assuming the currency
Of the country 10 consist OF two-Ihlrds Of
paper and one Of specie; and assuming
also that the money Of a country. what
ever may be lie component paris, regu-
lales all values, and expresses the true
amount which the debtor has to pay TO
his creditor, the effect OF the change up.
on that relation, and upon The property Of
the country, would be most ruinous. All
property would be reduced in value to
one-lhIrd ol it's present nominal amount;
aud every debtor would, in effect, have
To pay three times as much as he had
contracted for. The pressure OF our TO-
reign debt would be three times as great
as Il is. whilst The SIX hundred millions,
which is about the SUN now probably
due to the banks from ,Le People. would
be multiplied into eighteen hundred mil.
lions.
3 ITO he cant'udsd il our uext