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


iisfaeiOfily the useful functions of the
Bank Of the United States A. incorpora;-
ed by law. il woalB oalslrip il, FAR nut-
strip IL, in ali is dangerous qualities,
IN extending Tie powef. the influence,
and the corruption Of the Government.
IL was impossible 10 conceive any insii-
Iniion more admirably calculated 20 ad-
vance these objects. Not only the Sc
lected banks, but The whole banking IN
stiluIlons Of the country, and with Them
the entire money power. foT the purpose
o(specIlaiiun, peculalion. and corruption,
would be placed under the control Of the
Executive. A system af menaces and
promises viii be established: OF menace
10 the banks IN possession Of the depo-
sites. but which might not be entirely
subsersieni 10 Executive views; and Of
promise 81 future fayors to those who
may not as yet enjoy It's fayors. Be
tween The two, the banks would be lefs
without influence, honor or Honesty; and
system ofspeculaiion and stock -iobbina
would commence, uneqaulled in the an
nails Of our country"
" So long as the question is one be.
tween Bank Of the United States. in
corporaied BY Congress. and thar system
Of banks which has been created by tie
win Of The Executive. il is an insult 70
the understanding to discourse on the
pernicious tendency and unconsiiiusion-
ality of the Bank of the Unitsa states.
To bring up that question faihy and ligi-
iimately. you must 60 one step farther
you must divorce the Government and
the banking system. You must refuse
all connexion with banks. You must
neither receive nor pay away bank notes;
you must 60 back 10 the old system Of
the strong box, and of gold and silver. IL
you have a right to receive bank notes al
, ALTO treat tn IN as money by receiving
them in your dues, or paying them away
TO creditors, you have right to create
bank. Whatever the Government re-
ceises and treats as money. is Money;
and. il il be money. then they have the
right, under the constitution, to regulate
il. Nay, they are bound by high OBJ
! legation to adopt TIE most efficient means,
7 according TO the nature &c lhatahich they
! have recognised as money, to give to il
the utmost stability and uniformity of Va.
lde. And if il be ia the shape of bank
! notes, the most efficient means of ii, ing
those qualities is Bank Of the United
States, incorporated by Congress. Uns
less YOU give the highest practical uni
formity TO the value Of bank noles--s0
long as you receive them in your dues,
and treat them as money, you violate thar
provision of the constitution which pro-
vides that taxation shall be Uniform
+! throughout the United States. There IS
no other alternative. Irepest, YOU musr
dic0rce the Government entirely from the
banking system, or, if not, you are bound
TO incorporate bank as the only sale and
efficient means of giving stability and u
niiormity TO the currency. And should
the deposltes not be restored, and the
present illegal and unconstitutional cons
nexion between the Executive and the
league Of banks continue, shall feel il
my duty, if no one else moves, to intros
duce a measure to prohibit Government
from receiving or touching bank notes 10
anv shape whatever. as the only means
left of giving safety and stability to the
currency. and saving the country from
corruption and ruin"
Such were my sentiments, delivered
four years since. on the question of the
removal of the deposites, and now stand
ing on record; and Inow call your allen-
ton, Senators, while they are fresh in
your minds, and before other extracts are
read, to opinions / then entertained and
expressed, in order that you may com.
pare them with those that have express
sed, and the course that | have pursued
on the present occasion. In the FIRST
place, / then expressed myself explicitly
and decidedly against the banking sys.
tenn, and intimated. in language too strong
to be mistaken, that, if the question was
then bank or no bank, as il now is, as far
as Government is concerned, would
not be found on the side Of the bank.
Now. / ask, | appeal TO the candor Of all,
even the most prejudiced. is there any
thing in all this contradictory to my pre-
sen, opinions or course! On the contra.
ry, having entertained and expressed
these opinions, could |. at this time,
when the issue I then supposed is ac-
tually presented, have gone against the
separation without gross inconsistent
cy! Again, then declared myself 10
ha t,ttarlxy onnoSad 40 n cor,L;na,;>.x -.
league of state banks. as being the most
inefficient and corrupting fiscal agent the
Government could select, and more oh
jectionable than Bank of the United
States. again appeal. is there senti-
ment or word in all this contradictory
to what ! have said or done on the pre-,
sent occasion! So far otherwise, il there
not a perfect harmony and coiacidence
throughout, which, considering the sis