The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-03-30

tina, head. which would leave upwards Of twenty
millions snnusllg, os the profits derived frsm bank
ING prlyilegys ever and above teir compensation
for The capital invested, which somebody must pay,
and which must ultimately fall on the industry
aud business OF the country. But this enurinoss
expansion Of the sy stem Is not astonishing, so
great is the stimulus spplied 10 It's growth. In
genious meu OF other ages, devoted themselves In
vain TO discover the art of converting the baser
metals lata gold and silver; but We have confer
red on portion Of the community, an at stiii
higher--af converting paper, 10 all lntenIs and
purposes, into The precious metals; aud ought We
TO be surprised, that an article so cheap 10 the
manufacturers. aud 80 dear TO the rest Of the com
munIiy, should be so greatly over supplied, and
without any reference 10 the interest Or 10 the
wants OF the community
live are 10 believe the Senator from Virginia,
and others Oh the same side, We owe most all our
improvements aud prosperity to the banking sys-
TEN and lf II should fail, the age OF baTbsrism
would again return had Supposed that the ba.
ses Of our prosperity were our tree institutions
the vide spread aud lertle region we occupy, and
the hereditary intelligence aud energy OF the
stock frem which we are descended but Il seems
that all these go for nothing. and that the banks
are every thing, | make no war OH ,herH. All
insists. on is, that the Government shall separate
from them, which believe to be Indispensable,
Tor the reasons have assigned, both now and for.
merly. But | cannot concur IN aurlbuung 10
them our Improvements and prosperity. That
they Contributed TO give a strong Impulse 10 indus.
try and enterprise IN the early stages at their ope-
ration, | doubt not. Nothing Is more stimulating
than expanding aud deprteiatlng currency. /,
creates delustve appearance o. prosperity which
puts every thing Ia motion. Every one lecls as
II he was growing richer, as prlcss rise, and that
be has II 10 his poSer by foresight and exertIoa,
to make hts fortune Bu, II Is toe nature OF st,ln-
uius. moral well as hysical, 10 excite al hrst
and 10 tepress afterwards. The dram Which al
first causes unnatural sxcilement and energy d,
Tufe 10 terminate 10 corresponding depression aud
weak nor Is II less certain that The stimulus
o. a currency, expanding beyond It's proper iin.
tis, follow the same law. We have had the
hi.arauan, aud the depression has succeeded
We have had The pleasure Of getllRg drunk, and
now experience the pain oi becoming sober. The
good Is gone aud the evil has succeeded and on
iair calculation, the lattrr will be found 10 b.
greater than the former. Whatever Impulse the
banking system was calculated 10 give 10 our I'M
proSeueni aud prosperity, has already been cav
en- aud the reverse effects will hereafter iolios,
unless the system should updefgo great aHd fatl-
cal changes the hrst step towards whIc would
se the adoption o. the measure proposed By this bl
nave, hr. President, finished shat ! intended
10 say. | have long anticipated the present efis-
Is, Bot did not expect IT'S arrival N my Tune
When | saw is approach, | resolved 10 Do my du-
y, be The consequences 10 rue What they might
sad offer ny thanks TO the Autbor Of my beng.
that ae has gwen me toe resolution and oppoftu-
nI,y 10 discharge Nhst honestly believe 10 be the
duy on this great subject.
How me question sul be decided, IS aeknow.
lodged N Be doubtful, ne4fiy the lro Houses
supposed to b. DIVIDED out ~h4tever may be is
'alc nor. hays The mos, perfect oh6dence "a lts
,fn4l riamph. The public attention Is reused =
lnc SUBJECT viii be thoroughly investigated, aad
| have 10 tears but the side | support, will prove
To DC he side OF Truth, justice, liberty, cIsatstion
and moral ard nleertgal eGctilsncs