The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-04-20

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ION, iour years ago. In my place here, when the
removal OF The deposltes and the questions con
hecled with II were under discussion-so expi
city as TO rePel efiectuaiy the charge of any
ehshge on my part, and to make ii impossible fol
me 10 pursue any other course than have with
out involving myself in gross inconsistency.
intend no, TO leave important point to rest or
my bare assertion. What | assert stands on re-
cord, which | now bold in my possession, and in
tend, at the proper time to introduce and read
Bu, before | do that, il will be proper | SHOULD
state the questions nov al ISSUE and my course il
relation to them, SO that, having clear and dis
tinct perception OF them, you may, Senators, read
lily and satisfactorily compare and deterInin,
whether my course on the present occasion coin
cides with the opinion then expressed.
There are three questions, as is agreed by all
involved in the presen, issue: Shall we separate
the Government from the banks, or shall we re.
vlve Tie league OF State banks or creale a nation
al bank My opinion and course in reference to
each are well known prefer the separation 10
either OF the others and, between the other two,
regard national bank as more efficient and
less cOrrupting fiscal agent than league OF
State Banks Ii is also well known thai | have
expressed myself on the present occasion hostile
to the banking system, as 1t exists, and against
the constitutional power of making a bank, unless
on the assumption that we have the right to re.
ceivo and treat bank notes as cash in our fiscal
operations, which l. for The first time, have denied
on the present occasion. Nov, | entertained and
expressed all these opinions, on different occa-
sion. tcnr years ugo, except the right of receiving
bsuk notes, 10 regard 10 which then reserved my
opnloa aBd IT ali this sh luld be fully and clear
ly established by the recurd from speeches delIv
cred aud published al the time, the charge Of The
mn 81 in tho outu af all Uncover nra
JUDGED sink TO the ground. ] am now prepar, d
u Introduce, and have the record read. | deliy-
cred two speeches IN the session OF 1883 "a, one
on the removal Of the deposItes and the other on
the question et the renewal of the charter Of the
late bank. ask the Secretary to turn 10 the vo-
lame lying b. fore him, and read the three para
or phs marked m my speech on the deposites.
will thank him TO raise hi voice, and cad SLOW ~,
30 that he may be distinctly heard, and must ask
yon Senators, TO give your attentive hearing, for
on the coincidence between my opinions then, and
my course now, my viGdiestIon against this un-
provoked and gToundless charge rests
alt (saId NJ. c. this question Of bank or
no bank; ii II invelved the exlstencs OF the bank.
ing system, IL would indeed be great question
one Of the first magnitude; and, with my pre-
sent Impression, long entertained, aud daily IN
croaslng | would hesitate, long hesitate, before
have great doubts III doubts they may be called
as TO The soundness and eudeaoJ 9. ~ L h"l- -s.
ten, IN all its notifications. have great fear.
that IL will be found hostile to liberty and the ad.
vance OF GlviIiza,Ion fatally hostile 10 liberty ia
country, where the system exists in It's worst
and most dangerous ioruj. OF all institutions at.
frcilne the great question of the distribution OF
wealth; a question least explored, and the most
Important OF any in the whole range of political
economy; the banking institution has, II not the
greatest, among the greatest, and, tea, most per-
nicI0us, influence on the mode OF distribu tieB.-
Were the question really before Us, | would not
shun the responsibility, great as II might be. oil
freely aHd fully ffeFIng my sentiments these
deeply important points; but, as il "a, | must con.
tent myself with the few y hich | have thrown out
hat, then, Is the real question which row
agitaies the country answer, itIs struggle
between the executive aud legislative departments
of the Government; struggle not in relation to
the existence Of the bank, but which, Cong ress or
the President, should have ihr power to create a
bank. and the consequent control over the curren
CIV Of the country. THIS is The real question. Let
us not deceive ourselves. This league, this asso-
citation of banks, created by the Executive, bound
together by its influence, united in common artl-
cles of association, viyiied and sustained hv re.
ceiving the deposites OF the public money, and
having their notes converted by being received
every where by the Treasury, into the common
currency of the country, is, TO all intents ant
purposes, Bank Of the t. States, the Executv,
Bank Of the United States, as disung uished from
that Of Congress.
"However it mi hi fail 10 perform satisfactorily
the useful functions Of the Bank OF the United
States - incorporated by Law, II would outsirip II
far outsirp it, in all its dangerous qualities IN ex
tending the power, the influences auo the eorruP
ton of the Government. 1t was impossible &c
conceive any institution more admirably calcutta
ted 10 advance these objects. Not only the select
sd banks. but the whole banking institutions OF
the country, and with them the entire money pow.
sr, for the purpose Of speculation, peculstion and
corruption would be placed under the contro! Of
the Executive. A system of menaces and promi-
scs will be established OF menace TO the banks Ia
possession Of the deposites, but which might not be
entirely subservientto Executive views; and of pro-
mise of future tavors TO those who may not as vel
enjoy its tavors. Between the two, the banks
would be- leh without influence, honor, or honesty
and a system of speculation and stock jebbiug
would commence, uuequalled in the annals of ouI
country"
so long as the question is one between Bank
of the u. States, Incorporated by Congress, are
that system of banks which has been created BY
the will of the Executive, II IS an insult TO the I'M
derstanding TO discourse on the pernicious tenden
cy and unconstltu,onaGty OF the Bank of the uni
ted States. To brirg up that question fairly snd
lecitlmately, You must 60 one step isrther-you
must dirorce the Government and the banking
system. You must refuse all connexion with
banks You mus, neither receive nor pay away
bank ne,cs; you mus, go back tothe old syststn o.
the strong box, and of gold and silver. II YOU
have right to receive bank notes at ALTO treat
them as money, bv receiving them IN your dues
ar paving them awav to creditors, you have ugh
! to create a bank Whatever the government re-
eeves and treats as money, is uopcy; and, II 4
he money, then they have the right, under the
Constitution 10 regulate it. Nay, they are bound