The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-11-03

NEsrrrs u0A HAtAtAkc ~ Wis tficrS tffafi1tui-s
sieiy came d0sn. and provisions were
sbundsnL Here. then. Mas = cause IN
ssAaily and paaerially aaerIng prices
ael GREEN, which no nnr could hase fore
seen; and yet The writer's Of The day =.
sure v i i .. Aud i Il possible. shlIe
ihis Government remains 20 intimately
connected with The paper currency and
credits Of he canairy, thai il can fail
greatly "a affect hem hy every movement
Lake great giant. it has only 10 more
one q rs mighty legs or arms. and al
the elements around il are Immediately
thrown into cs,nsulsions. This Danger
ous juxis-posIlion. therefore. ought 70
rease-sc embarrassing n tbe G,sern-
snenI and ihreainilg "a the paper cur
reney and credit. No matter hnx ur-
genI The necessity may be In other re-
sprcis. Government must move with
cluilon. or nor mnve Al an. lest she may
deFsnge the carrsncys or. II ls,king sale-
~, or even msinli. 10 lhr Constitutional
ends Of lis creation. IL does act. The arr
Is immediately renI with cries IL distress
and The Government Is told il has done
the mischief and must repair il; that il
must hInd up The wounds Of = bleeding
country: nay, and pour inIn them oil md
wine toa. from the Treasury. Such vas
The cutlery on The removal Of The dop0-
sites, such upun the refuasl 10 rs-ehsrter
the D. 5. Bank: such upon the issue of
the Treasury circular: all of then mea-
sures strictly polIIlliral, and adopted
with reference ~ the aciIon of The Co.
sernmenI as such; but cumpIicaisd as il
had become with the paper currency aud
credits oi ihe country, IiaIhng should
have been done, eEery thing should have
been leii undnne. IL Is SAID, winch IN the
end. hspprned 10 affect them, What
remedy u there Tor this evil but the dis
cunnectInn Propose'R -.
BH although ihs government. whether
uaIIed 81 MOI ID me b1nks IN her fiscal
operalIons caa d. but little legitanalsly
towards regulating their paper cnrreecy.
she can, BY that unIon, do much Ia, In-
hame The evils, and by So tiuing, work
much injustice. She can, By that uni"n
greatly increase the credit Of those insli-
luuons, and give a wider circulation to
their paper issues. and IA tins way ir-
crease what are called mercantile facili-
ties. Tue Senator from Snulh Carolina
has illustrated This matter by a figure 80
strong and forcible. tha, il could nnI fail.
| think. to have brought eonvielian To all
who heard hun, Yes.si take the beg
gar from the street. and siipnlate with
him that nothing su, gold and silver aud
his notes will be received in payment Of
debts 10 this government. and CrGsus
himself was never richer Than he would
Instantly become. = J.
But Wha, right have the merchants or
the banks To make pr"fil upon the go
vernme,,t fluids tn the exclusion, or near
" 10 the exclusion, IL all other classes.
IL l. vain 10 set UP the plea that The he
nefii ii one class Is the benefi, al Ill; lur
the same plea is equally applicable 10
any act at inequality aud injustice. how
ever monstraus. Every one knows inaI
bank stockholders afe msIiay confined tn
a very few classes, aud Il Is tlinse whO
make the profits upon The public funds
while IN the rustudy ii hankss Tell ne
not ,aaI BY expansion Of the currency
the farmer and the lahurer .ublsla better
prices for heir produce and their labor.
| Normally II is 81. bnl they must. IN al
: leas, al equal praportl"u, pay fur whAI
they Consume: aud o. those WIN arr for
lunale enough to lav aside any thInl
above their actual expenses, the artlIhary
subjects Of their investments Iugresse u
nominal value with the expsnsmn Of III,
currency. and they hold them liable to al
the fluctuations Of that uHcerlain element
rendered so entirely for 'he profit Of 9th
ers. ~ But leaving, as time cnmpels lne I,
DO, The inequality Of its operations up"i
individuals, how much more uneqGal I,
il in its local operations! Whers ar,
the banksl In mercantile communities
Where are our mrrcu,lile commuaiiir,
With very few exceptions. IN our nnrlh
eastern country. There. no. only a.
bank stpckhoIders and merchants, bnI al
who are near them and around them, PAT
take Of the benefit in some degree, as IL
plat of ground which lies near stream
although the prolific shower may not tai
immediately upon ills yel refreshed an
Ger,ilizpd by The moisture dIlIused iIirpng
the atmosphere. Why Is !, thai pIsnl
and prosperity resi- on the bleak and ba'
rem hills Of The nurth, while the SUM
and aiiuyial valleys If the south ale Dali
heeoming more and more lmposrrishe,
What's il but the result of the partial all
unconstitutional system under which W
haye been living, 10 vain does The Coz
stnuliJn declare tIaI taxation shall be {
ossl. if. shen COLLECTED, some favored re