The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-12-13

HAAAAA - @AaA fAAa%AN~A9 ---=s-a -
rikcisnl class. dlEsel and exclusive per-
sonsl Interest IN 80 iBPoEianl PoEilan ol
sAs Legislation uf Congress a. that shish
Felalss 10 ihs custody 81 he public mon
sys. n Laws acting npea Prsais lnieT-
ssls eanaol slssys be ssoidsdr lhsy
shausd be- ren6ned wishin The naF0assl
limiIs. and Left. wherever possible. 70 the
Legislatures of Ihs slstes. When not
lhss restricted. Ihsy Lad - sanbinsuoss
NJ powerful associations. fOslsr On inan-
saee necessarily selfish. and larn he fair
course aflsgislslin. N sinister ends. Fssh-
er Than IN objects that adsanss public lib
sry. and promote ne general good.
The whole suhjsrt naw rests 9Th yos.
and cannot but sxprrss hope that some
sisknils measure all be adopted al The
present session.
q xill not. I AN sure. be deemed out
0f place fnr me here ~ remark. Ihsl the
declaration Of my views Ia opposlilos 10
The policy Of employing banks 40 dsposl-
loriss Of the government funds. cannot
Justly be construed NJ indicative of hOs-
Utility. official or personsl. N lboss insli-
tsIions. ar IN repeat. in this orm. and
in connection with this subjsei. opinions
which I have uniformly entertained.
snd on all proper occasions expressed.
! Though always opposed 10 their eresilon
IN The lcrn of exclusive privileges. and
AZ state magistrate aiming BY aPproPfi-
ate legislation TO secure the community
against the consequences Of their oeca-
sional Encouragement. | have YET ever
wished % see them projected in the srer-
else Of rights conferred by lsw. and have
never doubled their utility. when proper
~ managed. IN promoting the interests Of
Eade. and through that channel. the other
interests of the community. TO the Gs-
neral Government they present them
selves merely as state institutions, having
M necessary connection with its legisla-
ton or its administration. Like other
state Establishments. they may be used or
not in conducting The affairs Of the 60
sernmeni. IS public policy and the gene
raj interests of the Union may seem 30
require. The only safe or proper prln-
cipIe upon which their intercourse with
the government can be regulated, is that
which regulates their intercourse with the
private ciuzen-lhe eOnlerring Of mutu-
ii benefits. When the government can
accomplish a financial operation better
With the aid of the banks than Without.
il should be At liberty tn seek that aid as
il would the services Of . private banker,
or other capitalists or agents. giving the
preference 10 those who will serve IL on
the best terms. Nor can there ever ex-
ISL an interest in the officers Of The gene
raj government, 20 such. inducing them
TO embauass or anndy the state banks.
any more Than tn incur the hostility oi
any other class of state institutions, or Of
private cilizens. II is not in the nature
Of things that hostility 10 lhose insliIu-
Iinns can .pring from this sOurce. OF any
opposition 10 their course Of business, ex-
cepl when they themselves depart from
the objects Of their creation, and attempt
10 usurp powers not conferred upon them.
or 10 subvert the standard Of value esis-
blished by the Constitution. While op-
position IN their regular operations cannot
exist in this quarter, resistance 60 any al
tempt To make the government dependent
upon them for the successful adIninislra-
lion Of public affairs. 10 a matter of duty.
as trust il will ever be Of inclination. no
matter from what motive or consideration
The at,empt nav originate.
/ II 10 no mora than just TO the banks tn
say. that, in the late emergency. most Of
them hrmly resisted the strongest temp.
tsiions 10 extend their paper issues, when
apparently sustained in a suspension Of
specie payments BY public opinion, even
though 10 some cases invited BY legisls-
tive en,ctmenis. To this honorable
course. aided by the resistance Of the &C.
neral government. sc,Ing in Obedience I"
the constitution aud laws ot the United
States, to the introduction Of an irredeem-
able paper medium. may be attributed, IN
a great degree. Ihs speedy restoration oil
our currency to a sound state, and the
basiness Of the country TO It's wonted
prosperity. The banks have but TO con.
tinue in the same safe course, and be con-
tent in their appropriate sphere, TO avoid
all interference from the general govern.
/. meni. and to derive from il all the pro,ec.
Iion and benefits which il besiows on 9th.
er state establishments, on the people oI
the states, and on the states themselves
la this. their true position. they cannot
but secure The confidence and good viii
Of the people and the government. which
they can only lose when, IeaPing from
their legitimate sphere. they attempt to
control the Legislation Of the country, and
pervsu the operations Of the government
Ia their own purposes.
Our experience undar The &C, passed Al
the last Session. to grant prescriptions
right, TO seIIIers on the public lands. ha'
as yet been to limited to enable Us Il
pronounce with safety upon the efficacy