The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-04-06

A1 AasksssrA sAA4AAN - 49, As@#@A@s -
exiea.isA n nlhrF Substances. il. ahroasa
\ gradual change. lHey may heeome ihs
medium ol the general eiTeUisiion Of ne
World"
" The very rereipi n bank notes N
the pan az the government. Il rs daes.
would, IL Is eSneeL-j. make them nancy.
As Ear as the government may b. eanceIn-
Ell. snd. hy q necessary Consequence.
EnulI make them, 10 great extent. ihe
currency III the eounky. | say Enlhins
Il she pnsiIive provisions in the enasiiiu-
ton. which declare that all duties. IN
posts. and excuses, shall be uniform
throughout he United States. which can
not he unless that in hieh lhsy are paid
shnnld also have. as nearly IS practicable.
\ uniinrm Tslne throughout the country.
To effect this. where bank notes are re-
ceived, The banking power Is necessary
and proper within the meaning nf the enn-
siilulion; and consequently. 1.-THE govern
ment has the night In receive hank noies
in It's dues. The power heenmes coRsllsu-
ti0aal. Here lies. said Mr.. e., the resi
constitutional quesaan: Inns the gaxern-
meni 4 right % receive bank mites aT nos
The question Is nas upon the mere pow
er Of Incorporating hank. as ii has been
commonly argued; though. even IN that
riew. there wanld be as great sonsulu-
tiOnal objection 10 any aei on The part oI
the executive Or any other branch 81 the
government. which should unIle sny as
s0ciatinn Of state hanks inln one system,
as the means Of giving The uniformity suj
stability 10 the currency. which tic eon-
sliiuliOn intends TO confer. The very ael
Of 50 associaIing or incorporating ll;sm
into one. by whaieser name called. ar b.
whateSer department rerfTnei. would
be in TACT an act II Incorporation.
L" Bni, sand Mr. &. nv object, a. have
stated. is not To discuss The constitution
al questions, nor 10 determine sheihsr
the bank be constitutional or moi. Il j..
| repeat, To show where The difTiculty lies
IA dlIliculiy which | have zen from the
time fret cane into the public service.
| fuuRd then, as now. the currency ii The
country consisting sllnas. entirely al bank
notes. | found the government intimate
" connected with the system. receiving
hank notes 10 lis dues, aud paying them
away under rs appropriations A. cash.
The fact was beyond my control: II ex-
listed long before nv time, and without
my agency; and was compelled 10
act Oh the fact as il existed. without
deciding on the many questions which |
have suggested. as connected with this
subject, AID on many Of which have
never yet formed definite opinion. No
me can pay less regard 10 precedent than
| do. acting here in my representative
and drliborsuve character on legal or con.
slilnlimil questions; but | nave felI from
the beginning the full force of the dlsiInc.
unn 40 senslbly iskea by the Senator
from Virginia VI; Leigh. between do.
Ing AMI unlnlng IN act, and which he so
strangely illustrated 10 the case nj the pur-
chase Of Louisiana. The consuiuionali-
~ Of that act was doubted by many al the
nme, and annng others hy its author hlm-
self; yet he would be considered a mad.
man who, coming into polnIcal life. at
this late periud. would now seriously take
up the question Of the c0nsululiaaaliIy of
The purchase, and, coming to the conelu.
sinn that il was unconstitutional. should
prnpn,e 10 rescinh the act. and EJECT from
'he Umon two furnishing stiles aud a
gt""Ing territory"
lnextask the attention nfihe Senators.
especially from he Northern states,
while the Secretary reads the Short ad-
dress 10 the opposilinn. that they may see
how distinctly loressw what was CON.
ing. and how anxious | Sas To aver, the
calamity that has fallen on the section
where anticipated il wonld. ask the
SPcre,1ry to read the exHac. numbered
i three:
, .lnext address myself to the mem.
bers 81 The opposition, who principally
represent the commercial aud manuisc-
turing portions OF the couutry, where the
I banking system has been the fsrlhesl ex-
tended. and where a larger portion Of the
properly exists III The shape Of credit dian
IN any other secann; and 10 whom a
sound ana stable currency is most nccss-
saTy. aad the opposite most dangerous.
fnu have no constitutional objection: 10
you II IS mere question Of expejIencs;
viewed III this light. can You vote foe The
proposed measure!--a measure designed
To arrest the approach OF events whlch
have demonstrated must. il not arrested.
create commissions, aud revolutions; and
10 correci measure which must, II not
corrected, suhjecl The currency 10 can't.
nusd agItatipns aud fluctuations: and in
! order Ia give that permanence, stability.
/ and uniformity which is 50 essential 10
your safety and prosperity. To effect
this may require some dimlnusiun on the
/ profits Of banking; some temporary sag
rltcc oI interest; but IL such should be