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

- AAN4taN - sshAs6 M0AA4 nave L. Utti3Nrs
bui IN uhsl form credit can best perform
The funelions q ; SQUAD and safe eurren-
ey. On ibis important point | have free
" thFosn o1tmy ideas, leaving II % Ibis
body and The public 20 determine what
they are worth. Believing that there
might be sound and safe paper eurren-
cy lounded On the credit Of government
exclusively, | mas desirnus that those
who are responsible and have The power.
should have awaited themselves Of the
opportunity ofIhe temporary deficit IL The
Treasury and The posiponement of lhe
fourth insIslmeni. intended % bedepOsiled
with The siales. 10 use them a. he means
81 afording circulation far lhe present
relief Of The country and the banks. dur
Inc The process Of separating them from
government; and il experience should
justify il, ii furnishing permanenI and
safe circulation. which would greatly IA
cllilale the operations Of the Treasury.
and afard incidentally, much facility 10
the commercial operations nf the country.
But different direction was given, and
when the alternative was presented of =
! loan. n The wiIhha',ing lbe fourth install
meat ffnm the sr4tes ! dii uai hesitate Ia
{ give decided vote inT Withholding it,
My aversion 10 public debt Is deep md
! durable. tits, 10 my opinIni,, pernirinus,
aud is liile shnrt Of fraud on the public.
saw too much Of IL during the lale war
no, 10 understand something of the nature
and character NJ public lnans. Never
was a country more egregiOusly imposed
on. b.:
/ Having now presented ny views of
the course and the measures, which the
permanent policy Of the country, looking
IN ITS liberty and lasting prosperity, re-
quires, come finally 10 the question OF
relief. l have placed this lssl. not thai |
am devoid Of sympathy for the country
10 the pecuniary distress which now per-
vatles il. No one struggled earlier or
longer to prevent il, Than myself; nor can
any one more sensibly feel the wide
spread hight, which has suddenly blast
ed the hopes Of So many, aud preeipits-
ted Ihnusands from aifluence 10 poverty.
The desola,iOn has fallen mainly On the
mercantile class-a class winch ] have
ever held IN the highest esiimation. No
country ever hal superior body Of mer-
chsnls, of higher honor. ~ mare daring
enterprise. or Of greater skill aud "nefay.
! The ruin &c such class - heavy clla-
mlty and ] an s,lcitaus among other
things, 10 give such stability 10 our eur.
rrncy. as IN nfesenl the recurrence oi a
similar calamity hereafter. Bot IL was
hrs, necessary. ~ the order Of lhiHgs. That
we shnull determine w'Iat sound policy
looking 10 the future, demands 70 be done.
At The presrn; junc'ure, before we consi-
der the quesii"" nj relief: which, as ur-
graI a. u NAV be. j. suhnrdiaa,e aud M I
yield 10 the former. The patient lies
under n dam fouls disease. with n burn-
ing thirst aud o,her symptoms, wh,ea
distress him more Than the vital organs
which are attacked. ! he skIlliul physI-
cian frsi makes himself master Of tht ma
ture OF the disease. and then determines
On the treatment necessary for the resia-
ration of health. This dnne he next al
leyiates the distressing symptoms as far
as - consistent with the restoration nj
health. AID no farther. Surh shall be nv
course. As Ear n | pnssihiv can. con.
sisiently with the vteN- | rh."st1Iu, and
what believe TO b. u,.'p.>arv 10 restore
The body polite IN health, wlIl do eve
~ thing In my power ~ 'n'lg ale The pre-.
seq, distress. Farther | cannoi gn.
Al,er the best reflection. am of opiu.
ion. hat the Government, can tln but little
in the wav of relief: and tina, is case
which must be mainly lefI To the cons,i.
tuition Of the patient, who, thank God, is
Young. vigorous. aud robust, with con-
siituuan sufficient tosustain and overcome
the ssyerest attack. I dread the doctor
, and his drugs much more than the dis,
ease itself. The distress Of the country
consists in its Indebtedness. and can only
be relieved by paymeu, Of lis debts. To
effect this. industry, frugallty, economy
aud time are necessary. Irely mure on
the grawtng crop-on the cotton. rice.
and tuhaccu of the south. than all the pro-
, iects or deylcrs If politicians. | am Ut
, tetlv opposed IL all coercion by this CO.
, vernmrm But Government may do
something To relieve the distress. IL is
. nut Of debt, and is ule of the principal
rrg,htars hath af the hanks and nf the
merchants. aud should se, an example oi
: liberal indulgence. This am willing ID
: give freely. | am slso prepared 10 vote
. freely the use If Government credit il
| some safe form, tn supply any deficit il
/ the circulation. during the process Of re,
coverv. as Gar as lis financial wants vii
na,,ni, \ sna oat xvbai tnnra can hp safe