The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-11-07

gress, the political question 10 relation TO Bank
powers, was settled, as fl as constitutional scru-
pies and principles originated the collision, or
gave a sanction 10 the warfare. There and then
all political action should have ceased in relation
to Banks, credits and currency, for first princi- T
pies never can be resorted to, after the practice |
Of a system long continued, has infused all IFS
opposing qualities into the social body, becoming
part of the same by inseparable Incorporation, |
for such has been the action Of the credit and
banking system upon the social body throughout
the United States.
The Federal GoDernmcm ITSELF arose out OF
the chaos Of war and revolution, clothed in the
garments of credit armed by its weapons and
protected by its shield, In the same mantle, de-
Tended BY the same drmOr, it grew 10 vigorous
manhood; by the same weapon and shield, credit
achieved a second independence in the war Of
1912! Giant proportions now swelled out its
limbs, its body, It's head, its the,cs and siaeusj
all being the produce and ofspring Of that rich
nourishment poured into its blood by the aisnibic
of credit The giant was matured--every limb,
every fibre, every hlmor of his immense trunk,
being the product of cREDIr--as well his dat
" and hourly pourishment--the patulum Of his
vitality--the food that gave vigor and preserved
life. At this stage Of our existence--for this 81
ant is our own Countrywide party in power, at a
,ota1 f1-a % ,y,, soun1 Yrtncirla IN which n
rally, or any good aud plausible pretext for as
saultng the industrious mass of society--yes,
when the giant was full grown, prosperous and
happy-this party resolved that the giant shall
change his regimen; that he shall no longer feed
on what had brought him into existence and cx-
panded him to maturity but that gold and siiUer
was not a suficicncy Of that, they determined TO
/ stare hin, to death The experiment" was
( made, and twice from weakness, caused by ia
mine, has he tainted into commissions, at the per.
/ il of his life But the Government was not dis
posed to share the f,te of the giant, who when
+ thus overcome by short rations Of specie pabu.
/ um, represented only the people. Whilst the
/ giant was writing in commissions from the alb
stinencc from credit, the government, not will.
ing to share his fate or apply the virtues of the
Experiment" to its own precious sleek and fat
corpor tion--quetly retired into its cupboard nnt
made sumptuous banquet from highly season
cd dish Of :" Treasury Notes." which her house
keeper assured her had not particle Of that mos
delcterious article in them, called credit anC
that his worshsp might safely feast on them with
out any quai,Hs Of conscience or dream Of disease
The result, however, fasified the prediction fol
they were found wholly indigestible for want o.
credit, and only remained on the stomach, when
the giant was overcome by one Of his fainiing
ccnvulsve fits,
But our figure Of illustration has carried u
away from the main track Of our sueect-tha
! first principles can never DC benefcialy resorte
to, after the Incorporation of a contrary system
with all the elements Of society. Had our gov
eminent risen from a specie basis had it been tn
child of metallic currency; had ii from its en-
! Jryo, never been nourshed by aught but pure COL
! and stlucr--thore and then only an incidental Q
t temporary departure from the system of specie t.
! that of credit, mlght reasonably have been check
cd by calling for the rigid application Of the frs
principle, But the txact contrary being the case
5 any attempt to explode or extermnate the estab
] lished system of credit, amounts to that sort o
revolution which may be termed the anarchy o
/ trade an utter confusion Of the whole system 0
/. business, dorangod currency blasted credit
an idle people and furnished population. Fo
G the present we come to this conclusion, as tn
c logical corollary Of this brief argument that
: oppose the Banks of the States and State credii
b as now practiced by the dominant party, IS ran
= Federal doctrine, carried to he excess Of refine
cruelty, in order that the fcw who aspire TO pur
tanical mouth virtue, may boast Of undcfled sanC
= THY at the expense Of the comfort, employmer
and happiness of the wh0le people, who live
labor, aud whose labor is only valuable as tn
eyrrrncy is lct( undsturbcd in its equal and jus
: value by CREDIT icing unassailed, and SPECIE VI
exported,
]" SO