Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-09-13

1Ithe dutl oi 'the 0ecretafy oi ''ie iio''ut
10 discontinue the use OF sach Oh liehi as
shouio a1 any tale refuse 10 reaee.'i tnen l.o.s
IN specie, anu 10 substitute o,,'Ii oTln' +r
ueu SuiHG.eh. 1uuioei Iouiu " 0J'ou ., torn,s
receive tile Puohc oePosltes upoi, 'rT nI, 'en,
ana co'"'tlo'is theie'n Pfesct'oeu. 81: al
erai ana almost simultaneous SUE s;is.o .ol! ~
specie payments ny the' oanns II, Miy i"S.
rendered the performance OF '.l's uIsi nl'pe.
a'.e' IN iespIe' ~ 'iioSI III "" 49, samo
.:c.eu uI'ue, .io "'!a ,au ~ - ~, rao,s;te
io ."ne t: f otbsr o ~ t' ,a nroscr,eS condi.
.;ons Tbo ~ ; s,oc;fc % %r,Gnls o lions estsbI:c,od
wv sc Co,o, oss fp, tle doros;to a,d safekeeninc
~ ~, ~ 80. ,ot ... t,,,'s oorno,tod
y. va. p"o;s ,.. tnIt j. e. ho INV d,,tv
- orr fTrd ro,, an oariv onno-,uu.v e,r the exer-
oSo of vo,,r s,,rerrsoTy nowers over the sub
;oct
w. ,-; u,,,.a .r,. 49,, .,,.:
Il was a!So ico " appl e',.l' sn@S ..s o'I,, .Lo
pension OF specie Pas 'neH'c, ni.l 40. %s ."e
eFsoafraSsli'eii's Geiore eA'ss ~ tn0 pe.r'
mary alid'ls oi t.ic oo"u'., W., 49, .I'
mliiish the pu1l'c' IIFe'ue' 'iid' tne
rece'P's iil'o the h!Tasuy. - 49, W. A.
the reserved hEe nihons' oe suthIIenC . ~ ue-
Tray t'ie una, oluaois eAp:r9S :" ,"s 1890. -
merf' uhtii the USta. l'e''Uo io' '!'t 'nG'ns Va
congress; Whi!St tiie au'lioIn! ~ ca! upo'i
the states; ior poFuoh ol .ne SUNS .rpJI,, alIo
yea Nlll tle''l' was apo ie0o: aI,;o;ont ~ ] Iou4
e hcparineu' 70 rT''lze uaa;,s su.'iuI aTp hsro
rom Una. source nss. "i'p' snen ',I.N ,..h;oL
oee1 lust',eo ny o o', ,..;'i ~
.rehacr II CERTAIN 'iia' l'''S oe'otc1A VII w. ~
cGr,l aoui'ionai means oc liaA Pl0'iucu o'
Congress.
The difficulties experienced by the mcTcan-
tile interest, in meeting their enga agcments,
induced them to apply 10 me, previously to the
actual suspension of specie payments, for IN
dultence upon their bonds for duticS; and all
the relief authorized by law was promptly
and chccrliillv granted. The dependence OF
the. Treasury upon the avai!s Of these bonds,
10 enable it TO make the depositcs' with the
States required by law, led me IN the outset
to limit this indulgence 20 the first Of Septcm-
ber. but it has since been extended to the first
of October, that the matter might be submit
10 your farther direction.
Questions were also expected to arise in
the recess, in respect to the October install
ment of those deposites, requiring the interpo
sition Of Conercss.
A provision of another act, passed about
the same time, and intended to secure faith
iul comnlance with The obligation Of the.UnI-
tod States. 70 satisfy all demands upon them
in snecie or its equivalent, prohibited the offer
of anv hank rotc,' rot convertible On the Spo:
into rolJ or si,rer af the will of the holder
and the ability Of the Government, with MIL
lions ON depositc, to meet its cnga agements in
the manner TINS REQUIRED by law, was render
ed yery doubtful bv the event to which l.have
referred.
Sensible that adequate provisions for these
unexpected exigencies could only be made by
Congress; convinced tila. some OF them Woulo
be jndspensablv necessary to the pubic ser
vice, before TIE regular period or your meet
inc; and desirous also to enable.you to eXer.
else. at the earliest moment, your full constl:
tutional powers for the.relief OF the country,
could not, with propriety, avoid su3Jccung you
70 the Inconvenience of assembling at as carly
dav as the state of the popular representa-
ton would permit. ] am sure that have
done but iustic to your feelings, in believing
that this Inconvenience will be checrfu!'y en-
countered, in the hope of rendering your
meeting conducive to the good Of the country
During the earlier stages OF the reVulsioI
through which We have Just passed. much @
acrimonious discussion arose, and great diver,
sity Of opinion existed, as to It's real causes
This was not surprising, me operations o. o.
credit are so diversified, and the influences
which affect them SO numerous and often SC
subtle, that even impartial and WEI! informed
persons are seldom found to agree IN respec'
to them. To inherent difficulties were alsc
added other tendencies, which were by nc nc
means favorable to the discovery OF truth. II
was hardly to be expected, that those who
disaPproved the policy OF the GoTernment IN N
state of public feeling produced by the occa'
SION, fail to attribute 10 that policy any exten'
sive embarrassment in the monetary AFFAIR."
of the country. The matter nus became
connected with the passions and conflicts o
party; opinions were more or less anec'ea o!