The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-05-04

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tive lsharer. he 10 . non eOnsumer-s
least. beyond The wants Of bis mechanics
being. He IL not clsmorous FOR food
raimenf. or shelter. and makes no de
msnds for ihe expenses Of education
The eating and drinking, the reading ant
writing and elolheEwearing world. are
benefited by the lsbOrs Of these eo-Opera
lives. in the same way a. il Providence
had provided for their service millions o.
beings, like ourselves in external appear
ance, able 10 labor and 10 toll. and yei
requiring little or nothing for their owl
consumption or subsistence; or rather. 81
IL Providence had created race Of giants,
each Of whom, demanding no more foI
his support and consumption Than CON-
mon lahorer. should Vet be able 10 perform
the work Of hundred.
Nov. sir. turn back IN the Massaehn-
sets tsbles of production. aud y0u will
see that il is these automatic allies and
co-operalOrs. and ihrse pawers OF Ralnrr.
thus employed and placed under human
direction. which have cone. with such
prOdigisus effect. 10 mans all. in the
great business Of procuring he means ri
living. of comfort. and of wealth, and
which have so swollen the products ri
her skilfui industry. Look al these
tables once more. sir. and Won viii see
The effects Of lsbur. united with and act
ing upon capital. LOok Yet again. and
YOU will see that credit, nuInal trust,
prompt and punesual dealings, and com
mercial confidence. are al mixed up rs
INDISPENSABLE elements in the general
system. Twill ask you To look ye, once
more. sir. any you will perceive that
general competence, great equality ia
human condition, a degree of popular
knowledge and intelligence, nowhere
surpassed. if anywhere equa!led, and the
prevalence Of good moral sentiment, and
extraordinary general prosperity, is The
result Of ne whole. Sir, l have done
with Massachusetts,. lido not praise the
old Bay State" OF the Revolution; /
only present her as she is.
Mr.. President, such is the state Of
things actually existing in the country.
and of which | have now given you .
sample. And yet there are persons who
constantly clamor against this state Of
things. They call il sris,oeracy. They
beseech the poor TO make war upon The
rich. while. in truth, they know not who
are either rich or poor. They complain
Of oppression, speculation, and the per-
nicious influence of accumulated wealth.
They cry out loudly against all banks and
corporations. and all the means BY which
small capitals become united, in order to
produce important and beneficial results.
They carry on a mad hostility against
all established institutions. They would
choke up the fountains Of industry. and
dry all its streams. In a country Of un.
bounded liberty. they clamor against
oppression. Ia country Of perfect
equality. they would move heaven aud
earth against privilege and monopoly. In
a Country where property is more equally
divided than any where else, they rend
The air with the shouting Of ssTarian
doctrines. In country where the wages
Of labor are high beyond all parallel. and
where lands are cheap, and the means of
living low, they would teach the laborer
that he is but an oppressed slave. Sir.
what can such men want! What do they
mesn! They can want nothing. sir. but
to enjoy the fruits Of other mems labor.
They can mean nothing, but disturbance
and disorder; the diffusion Of corrupt
principles, and the destruction Of The
moral sentiments and moral habits Of
society. A RIGHTEOUSNESS Of feeling and
NJ action is sometimes produced by
prosperity itself. Men cannot always
resist the temptation TO which they are
exposed by the very abundance Of the
bnunties Of Providence and the very
happiness Of their own condition; as the
sieed, full Of the pasture, will, sometimes.
throw himself against its enclosures,
break away from its confinement. and,
feeling now free from needless restraint,
betake himself to The moors and barrens,
where want, ere long, brings him 10 his
senses. and starvation and death close his
career.
Having said so much, sir. on the
general condition of the country. and cx-
planned what understand by credit. I
proceed to consider the present actual
state nf the currency.
The most recent Treasury estimate,
which have seen, supposes that there
are eighty millions Of metallic money now
in the country. This | believe, however.
to be a good deal too high; | cannot be-
lieve il exceeds sixty, al most; and suppos-
ing one-half this sun TO be in the banks,
thirty millions are in circulation. or in
private hands. We have seven hundred
banks and branches, with capitals assign
ed for the security Of their notes and bills.
amounting TO two hundred and eighty
millions. The amount OF bank n0les in
actual circulation is supposed 10 be one
hundred millions: so that our whole cir