The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-12-06

alsjanly Of his parsisaas. They hsa Ihe
best soGEees 0f information, and ample
opportunities 10 investigate the suhiecG
fully. l. has certainly been very slsbo.
rs.ely discussed IL Two sessions. snd re-
jeelsd under circumstances which would
sssn Ia siensn6 Ils aequirseenee nf e.
eIy rspahliean. skO huids lie doctrine
lhst majority might 10 rule. But i. is
not submitted 10; every Fxrriion has been
made. aud 10 st.l making BY the immense
inaaeEee Of Executive patronage. 10 re.
verse this twice decided question. An
appeal las been made 10 tie people. The
subject has been carried into our Stale
e!sciinns. and The public Gind vexsd wilh
u. irnIu lie elections cl our censlshses 10
that Of tie executive. II has been made
The test Of democracy itself. Grave SEN
aiors aud honorable Representatives have
taken The stump 81 eleeuUEs. ~ barbacuss
and dinner tables in defence Of il. The
eupidiIy Of creditors has been appealed
10 in support Of il. They have been in.
viied by the Secretary Of The Treasury 10
protest his own drafts on the banks " hen
specie was refused. in order 10 make item
equivalent To specie aud available in tie
market at high premium. 10 paw Gus
ton house duties. This is no fiction.
! il is fact; and The government has been
dishonnred by her own officers f'r pet
~ reward Of profit on the salaries they
are receiving from her bounty. The hon.
orsble members Of Congress wrre prof.
fered specie by q circular Of The Secresa-
~ in the payment Of their compensation.
With such inducements. incentives snd
appeals. we would not be asionishsd to
see this new device become the law 0f
the land against the dispsssicna:c wishes
Of tie people.
understand ihe "IadcpendHnl Treas
ury" to mean. reduced TO is naked pro-
partitions, the appointment Of new Agents
hy the government. whose duty il will
be 10 receive the public duties from the
people IN gold and siirer only, keep i.
in safes and vaults, and pay il ont 10 the
salsried officers and others in com only,
rejecting the use Of banks as deposilories
and their notes as medium Of payment,
whether convertible into specie or not.
This measure consider rong in pTin-
ciple. M state government would be
sustained in exscting from the people coin
only 10 the payment Of taxes. land sales
and entries, nor could individuals be TO-
lera,ed in a course so odious and oppres.
sive.
The emplnymen, OF gold and silver or.
~, 10 all transactions between the govern
ment and people, il practicable al all
would be ineunvepirn1 aud expensive
But the imprac,ieatili,y Of conducting ,h'
business Of the country with specie cur
rency only, is no. denied. We must ,heE
necessarily haze mixed currency of sre
Gle and bank notes.-the one, according
to the Independent treasury doctrine. fo
the government, and the other for ,ht
people: and they must come in conflict
The refusal Of the government 10 receive
the peoples currency mus, deprecisle i
or produce a constant drain upon th,
banks, which must destroy their useful
ness.
! On the score Of safety. the Indepen
dent Treasury is to the particularly oh
leciionab!e. Few of US are ignoran; Iha
the officers Of the United Sta,es are ap
pointed more frequently from poIliic'
considerations than from intrinsic msri'
and too frequently from noisy dema
gngues. who are always the most iorwar
, and perunactous applicants for office
The depnsi,es IN the local banks mus
from their nature, be more secure tina
with such officers. They are guarantee
BY the capital of the bank, and the watch
= iful eye uf seIi,inIeres, is perpeiuaiiy NJ
On them. | speak chiefly in reference 1
the officers and the management Of N
/ banks of this state; and from person.
. knowledge. am very certain that no sub
Treasury can be organized with which
would so confidently inIrust my persona
funds as with our banks.
But this sub Treasury scheme mus. IN
, fcrease the number of officers. and the pal
rnnage of The general government. aires
/ dy swollen beyond all proper limits.
, have an insuperable objection 10 seem
! the agents Of the government spread owe
the states, with The control Of money
power of any kind. 10 operate on our Ia
. bis, manners and feelings. or 10 intinenc
our elective franchise. We have aIresd
Mint without coin, an Arsenal ~ithou
, need. Collectors and hosts of Cus'oH
House Officers, a, oil our ports Of entry
and Pos, Masters, like The locuss
Egypt. They form phslsnx. which n
palriut can contemplate without just at
, prehension, or think Of increasing wi,t
/; out dlsmay.
Some advocate the scheme, because
its operation. il will be hostile 10 the Il
, cal banks: and that. in their natures. the
are an,agonis,icsl, and cannot exist tog'
ther. Are We prepared for the desuu'
: ton Of our banks, and. with them. OF o'