The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-09-12

no,it;eal der,arogues can persuade them that
Sui Treasury. instead of a national bank, IS the
true remedy, they have yet in store fandoras
hoy of evils which will afilci and seourge the
country 10 an extent that no one now can fore
see. Commvree, credit and agriculture are per.
ishina. The next great interest which Is TO ieei
the whitening grasp of the mb-IreasuFy Pohey
is st lie internal improvements OF railroads ana
canals. All these must be Abandoned IN theif
unfinished state, so tar as they depend on Stale
guarantees to be negotiated in Europe. The
Bank OF England, and capitalists OF EUROPE
alarmed at tine attacks made on our cTedl'sYsteih
hy high authorities and by high official function
aries. refuse to loan on State bonds, and The tai-
lur, OF thoss enterprises, which were iooAed 10
TO return the interest on the bonds vii! soon cause
them to be ranked with the securities Of bfaFh,
Colombia, Mexico, Portugal, and Belgium, aud
n,r AGENTS viii be driven out Of the market. | H.
les some remedy be promptly applied, not one
public work, depending on a loan tor as coinpie-
non. VIII BE- finished. In this terrible wreck
there Is but one good against thousand eFiis'
anG that Is, that the storm winch shakes lhe
mountain oak vail leave the grass untouched
Heretofore the measures OF the Government nave
not touched It's principal supporters, the it'sh
laboers and German operatives, VINO use 'he
spade When Their pockets are touchea Ne ss'e''
soon see rospuuon IA the pohiics % THIS eoansfy
The only remedy can see IN the present efi.
SIS j. the establishment OF national o1nk -ihe
capital adequate 10 tine wants OF the country
portion Of thls capital shoud BE- open TO sabseri-
ton la such state bonds shall have teen created
in AID OF internal Improvements, giving The bonds
OF each State talr pro rata share 10 the uissF'-
bullou. and thus converting 50 Or " utilions
OF good State bonds into 80 much national 5anA
slocA By this plan, very different estimate
would be placed on American securities ~ homc
aud abroad aud Il would MOI BE- @ide al lli'
mark to eacalAIe tbai tHis national banA sioc T.
thus exchanged for bonds, would command higt
premium Ia all Europoau markets Capitalists
abroad, laaklng 10 thclr own interests, vail 80
that national bank would restore a ntiioal
carrcuey, ana, Uith that, all the sound channel
OF industry aud trade would b. os'emed, and eve
, ~ species OF security enhanced "a value.
i 10 those 40 have imposed upan the crcdab
~ d the iguaT .nt w rsPr seuting the danE - o.
having foreign stoekholdcrs IA Oir RstcasI ~
5 situations, Il m Dc answered thai Il we hlS'
foreign CREDITOR It Is n1uch beitsF is shts ioru
than taai Of creditors holding State aoaes, wa.eh
Il not puncualiy paid a any and every sacrifice
viii BRING a,ssraee and druunelaii9n gpon q
tr1m al tbs c,yulxed ustions ol toe wof!a.
I had no iac4. ny de4r az, Of Klaus rtinniug n
7 10 p8lI.rs. wnh ssnicA have boeu long sine
dr. gus,ed bot having a0t ulush 10 DO, ! h.u
ihus thrown together Ia a hasiy m4nnrF, tu
opinions Of oae tadl, tsigal, dNepiy iaisFrs'e'
a. yoa are an lhe PROSPERITY Of t4o coasheri
States
( an, with very great FesPcet, yosrs, truly,
/ JOSEPH NJ WHITE