The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-02-24

laIon Of the laws and II The constitution.
IN consequence Of ihis siiemplio Rsuain
the free exercise az The right II express
ing nv opinions upon al suhierss con-
corning the public interests. secured 20
me by The constitution. ! leave 10 The
Senate la determine shat mrasures the
preservation al their own privileges de-
mand
Much less do intend TO comply with
the request. OF demand. made ii me: de-
mand has M place between equals. and
4 hold myself within nv constitutional
privilege. al least equal 70 the Chief Ma
gislrale himself. I. Is legislator. have
= right To investigate and pfonounce up
4 on his cnnducI. and eondemn his acts
freely. whenever cnnsider them In be
in viaIaii0n IT the lsws and Of the es'n
stituiion. I. n q Senator. may jUdge
him; he can never judge me.
4 Ms object - 10 avail myself "fihe oe-
cssion To Teilera,e what said rs broadly
and fully as ullerrd them IN iormeF
occasion. here 10 my place. where alone
am responsible. and where the friends
Of the President will have an opportunity
To carrecl nv statement. IferroneOus, or 10
relu,e nv conclusions. If nol fairly drawn.
spoke without nnles. aud u may he that
| mag omit sar:elhing which ] said on
the former occasinn that NAV be deelnFd
material. or 10 express myself less iull
and strongly than then Ind. II so. l
will thank any Senator 20 remind me. ."
ihs, my statement now may be as strung
and az full as then.
Ifmv memory serves me, opened
my remarks. when spoke formerly. by
stating that so many and So subtle were
the devices hy which Ihase who we're m
power ronld. IN these tunes. fleece the
people. without their knowing u. that Il,
was almost enough to make 4oser of
his country despair 81 Us liberty. lshen
stated thar knew Of no measure winch
cnuId better illustrate The ruth nl TINS rss
mark. than the que now brfore rs. L.
professed object is TO resIr'cl The sales at
public land. IN order. as is avowed. 10
prevent speculation; and by consequence.
the accumulation Of . surplus revenue in
The Treasury. The measure ls under
si1ad 10 be an administration nessure.--
| then stated that, so far from preventing
speculation. Il would. in fact. hut corr
summste The greatest specuIslInn which
this country have ever wItnessrd--a spe
eulstIon originating IN a state If things III
which thnse in power u ere the authors:
by when they had prnfi.ed; aud wnIcl
this measure. should " become a Law i.
would but complete ] inen asked what
had caused surh an extraordinary demand
for public ,snd. that the sales should
have more Than qulmrupled suhIn the
last three vearsl-and said that To an.
sser ih,- qursiian. We must look tn the
state Of the CURRENCY. That u was nv .
log to the extraordinary Increase "I haak
paper. winch had filed 10 reple'r,n all
the channels nf circulation. The Serre-
tary had eslmsled this increase. wIihIn
that pc, Iod. from six dollars and fly
cents per md sdual. 10 ten d'ilars
believe tue increase Ia he much greater
the effrc,s of whlch have hsen To tou-
bile ihe price If every article, which has
nur been keun dawn nv some particular
cause H. The mean time the price III
public LAID Las remained unslIerej, al
one dollar aud twenty five cents the acre;
and the natural conseq' ,ence was. tina; hi.
excessive currency overIl0wrd upon tie
public land aud has caused those extra.
ordinary sprculauuus WhIch II ~ the
pro(rssed object III TINS hill 10 prevent.
| then asked what hal caused this IN
undau0n ni psper! The answer was
the Experiment. hive 1" remlnd tie
gentleman of the wortl.) wh'rII had re.
moved the only reslrIcuons that exIslrt
against the issue Of bank paper. III,
consequence was predicted at lac time
=. II was forelold Ina, banks Womb mn.,i.
ply aImasi without number. and pou
forth their issues without RESTRICTION ~
limitation. These predictions we're a, III,
time unheeted; their ruth now begins I,
w EfdtlLcus
The experiment chmmenced BY
transfer Of lae public funds from Ther'
they we're placed by law, aud where iheI
/, were ,fnder its safe guard and proteriiop
10 banks which were under the Snte an,
nniImted control II the Executive
The effect was vast increase 81 ExPcu
! tive patronage, and The opening nt a ieIt
OF speculation. IN dsrrbisg which. u
anticipation, pronounced II tn he 81
ample, thai Rothschlid himself nigh
envy the opportunity which 1t afforded
Such 1t has proved To be.
The administration has prof;rd b,
this ras, patronage. and the prelude
which il has excited seaIas, The bank a
the means of sustaining themselves il
power II is unnecessary to repeat th
I remarks. in illu,trauon III this. TIL
e truth al The statement u knuwn 10 all IN
Senators. who have daily Witnessed Ih
D t,arty ta,ics wh,ch have been drawn firm