The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-06-27
mo. 456.
From the National hteliigencer.
THE CURRENCY.


stitutons of Virginia, suggesting measure
which he believes will be useful (lf indeed
something of the kind be not ndispensable)
TO relieve domestic exchanges from the
oppression under which they now labor
Whether the remedy which he proposes be
expedlent, we do not pretend to be able to
Judge. 1t appears TO US to be emlneDtly
practical, however, if such succedaneum
for Bank circulation of universal credit
be necessary. We confess ourselves to be
rather disappointed that the Bank of the
United States, in the strong position in
which il is entrenched by IFS Pennsylvania
charter, has not had as well the power as
tho disposition to bring about the desired
equalization of domestic exchanges; one
cause Of which may be, that, looking from
its very organization, more to lis particular
interest than to the wants Of the General
Government, or of the Union generally, it
has employed SO large portion OF its funds
in foreign dealings as TO be restricted in its
means OF grantlng accommodations nearer
home.
The measure which Mr.. Smith proposes
IS one which, in any view of it, there Is
abundance Of time for considering; since it
is one which can be accomplished only by
the action Of the National Legislature.
To the extent of one half of Mr.. Smiths
proposition, We are clearly of opinion it
would have been wise as well as just if
Congress had acted at its last session.
mean, of course, TO the extent of an amount
which would have suficed 10 pay the fourth
lnstalment under the deposlie (or distrlbu-
ton) act Of 1896; which, after being gene
rally appropriated in anticipation by me
several States, has remained due and IN.
paid since the first OF January last.
| ['Mr. Smiths idea is, that Congress should au-
thorze the issue of twenty millions of Treasury
notes, free of interest, to be paid out l., the Trea
sury for the public appropriations, and received
| every where in payments and on deposite by the
banks and that the revenues shall be collected,
as formerly. BY the banks. No fixed period for
the redemption Of the Treasury Notes need be
stipulated, on their face they should be made
| receivable when and wheresoeyer presented, for
dues TO the Government and the banks should
possess the right 10 reissue them at their pleasure.
J. Q. adams Leaer.--The sage of
Quincy has addressed a seccad character
istic Letter, TO the public, on the subject
Of his connection with Abolition Petitions,
in Which he cuts right and left without mer-
cy. lie thus speaks of Mr.. Calhoun:
At the head of them is Mr. John c. Calhoun,
with his sanguine temperament, his dashing elo-
/ guence, his never-doubtlng confidence in himself,
I his superficial acquaintance with human history,
with his never-heSititing versatility of conduct,
and his ludicrous sincere claims to consistency;
with the memory of his premature Advancement
/ in early youth-of his graSping ambiton--of mis-
/ blasted hopes and his Notifying disappointments
/ This is precisely the man to acquire, under the
I ctfarvescenee of Southern sun, that ascendency
over the intellect of his contemporaries which
eonters a Pythag0rean authority over his disci-
PIES and settles every question among them by
4 the simple formula Of " He said it," And such
/ an ascendency he has acquired with the excep-
ton of a few intelligent men, unable TO keep pace
with him in the suddenness and rapidity of his
political pirouettcs but who cannot sustain Them
selves long in opposition to any Of his cireumyo.
luuons,"
The Standard lately asserted positively
that Reuben VI. Whitney was the Editor
of the Madlsonan, the paper at Washing.
ton regarded as the organ of Mr.. Rlyes's
party. This was nothing TO US, for we
could never have any fellowship with the
ghost Of the man that MIR. Adams killed off
by his celebrated Report on the L. S, Bank.
Blu! it turns out, like most of the Standards
( statements, TO be a sheer fabrication. The
Editor Of the Raleigh Star says be has re-
ceiveG a letter from the publisher of the
| Madsonian, positively contradlctng the
Standards assertion, and moreover stating
that Whitney is IN Mississippi, attending to
his own private business. The Star appears
TO expect the Standard to withdraw its ale-
CATION. This is amusing. Did the Stand.
ard ever DO such thing Fay, Obs.
A Long Line,-Ou the I1lh uIt., there
was lying between Little Falls aud Herki.
( mer, New.York awaiting the repair Of
breach in the Erie Canal, line of canal
boats ten miles in length. II is supposed
it would require a fortnight to get them
through the locks.
Special Ferdict.-Three Young men
were recently tried in Cataraugus N.Y.
for shooting aud MORALLY woundlng dog.
The written verdict Of the jury was: All
three guilty plaintiffs damages assessed at
6 pence; and each oflhe defendants TO have
another shot at the dog -
The long prevalence Of Eastern gale