The North-Carolina standard., 1839-02-20

1 It's TeI0Sai TO TechaFter the Bank of the Uni
ted States, and is now endeavoring by is de
mand OF specie in all payments 10 it, to supply
the people with a sound and stable currency |
Sir, it is the Banks. that want the ,good money
that they may supply the bad TO the people, =
Let u.s. then rather discourse about one nuOnev for
the Banks another for the people; hard money
for the Banks; mere promises to pGy-pa per--for
the People. NY word Tor it, allow the Ranks to
| monopoliZe the currency, hoard all the Gold and
Silver In their vaults, command all the channels
ofcirculalion with their notes, realize large pro-
fits, and control the labor and industry of the
country, and the fortunes Of individuals; not one
word of. complaint. not even whisper of wrong
would be heard from their friends The busi-
ness of Banks is credit business they deal al
together in credits. The object is profit. And
as you increase the circulation of the precious
metals, in the same ratio do you restrict their
loans aud discounts. and, bv consequence, d.
minish their profits. Hence, their hostility to
the competition produced by the demands of Gov
ernment for specie. which supply to CORES
pondent extent. throughthe channels of public
expenditure, the wants of the People and ba nish
from circulation an equal amount Of Bank notes
Yes Sir, repeat, it is the Banks, that want the
hard mOney, that they may obiige the people, to
use their paper money! and to pay heavy tax
for circulating medium, which they are enti-
tied to for the products of their labor without
tax, and in hard money. Aud, with the exclu-
sive power over coin conferred upon it, the Gov
ernment would greatly fail in lis duty. if it did
not try, and keep trying, to furnish the people
such currency as they ought to have, and 1t is
bound TO supply. 4 ss#t s@sa g.
And. with farther view 10 render odious the
divorce of Bank and State, it is called an expert
ment. How experiment. And is every
useful measure to be rejected, because it is nick
named an experiment. Sir, if this were so, we
should still be grooming under the yoke of bond
age; that glorious experiment., which resulted III
the emanei patton of these States from colonial
vassalage would never have been tried. The rep
resentaliVe system, the boast of every freeman is
an experiment. The scheme of our illustrious
ancestors, which committed all political power
to the people, the only safe and tc gatimate de-
postorIes, is experiment All the useful dis
coveries, in science and phiosopy, are the result
OF experiment. Our own Government is dn ex-
pertinent, and take leave to say, as much an
experiment now, when first Set In motion.
New questions constantly occurring, new
principles every day evolving. and the deuices of
politicians perpetually multiplying, and, unless
power be closely watched and steadily restrain
ed within the Limitations prescribed by the peo-
pie, may prove an experiment, fatal to the airest
hopes and brightest prospects of man. Yes, sir,
if the experiment are now making upon the
great theory of human rights fail, none other
fea r, need ever be tried 1t was commenced, pro-
secuted and has been continued. under auspices
more favorable than can be hoped for any SINH
lar one. The same powers physical, inteLtec-
tuGt and moral, can never again be found In such
close and inseparabe combination. Let us then
throw no obstacles in its way, but rather let US,
by our devotion to the principles upon which its
safety and success depend. show ourselves wor-
thy of the blessings with which it is destined TO
crown US.
But, Sir, will hasten to another resolution,
and move on, with all the despatch can. to con-
cusion. There are other views wished to pre-
sent, the citGLfy interesting subjec! of the In
dependent Treasury, if the time of the Senate
and my own strength had allowed. Yet, can
nottake leave of it, without daring to express it,
as nv most deliberate opinion, that it involves
the high and inestimable right of seLfgorern-
ment, and. that whatever imperfections it may
have, land they are re1y fer, indeed, contrasted
with any other scheme of finance) the sacrifices
40e should make in embracing it, would be as
nothing TO those submitted to by our illustrous
sires, in the acquisition of that great right-
They did not stop to count costs the almost di-
vine spirit which animated them taught them to
assert certain rights at eUery hazard, and at any
cost Let US then initiate their example, and
stand fast in the liberty wherewith are made
free. and "be not entangled again with the yoke
of bondage"
That the public lands of the United States are
'the common property Of all Tie States" as the
4th resolution asserts, no one can, or will deny.
But it does not result. as legitimate Seq11ter,
that the " late act of Congress allowing settlers
on the public lands the right of pre-emption at
the minimum price, is an act of gross injustice to
the old States" Sir. in reference to the provis-
ions of that act. / answer sum intormGtUs,
am uniformed. A copy of it has not been
laid before Us, and have not deemed it very
important to go out in search of it, Gentlemen
have not as they ece1e 6oWmd to do, furnished the
proof necessary to support the issue rendered to
US. What Senator, Mr.. E: asked, had read and
examined the provisions of this much abused
pre-emption law2 who has nol0 the act, and can
exhibit it TO the Senate2 Senators must pardon
me, if do not take assertions for proof Tin
wolves many details. to the right understanding
of which much information is needed, which no
one can expect US to have; l have full conf
dence in Congress on the subject, and am un-
willing to trammel its action in regard to it.
All IpretenG to know, is. that the Pre-emp-
tice principle. is no new thing. and that it has
been practsed upon by every Government, which
has owned public domian; and, whether it be
considered, in reference to the rights and duties
of Government, or the advantage and convent
ence of the citizen, and the great interests of ag-