The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-03-21
for dollar BY these gassrnnen, drafts.


One good ground far This beliefis. thai II
had rs origin in = letlihg snlssonisliesl
10 the banks. II il goes inio operation
nov. 4 ~Ill be under the administration
81 men wl0 are known 10 Le hostile 10.
and wha sIll consequently administer IL
10 The annoyance and destruction Of The
banking system. The tendency Of The
sPerie 10 accumulate in the hands If The
depasil.ries. will keep Up constant drain
upon he vaults Of The local banks, which
alli cripple their operations. and keep
ihsm 10 state Of constant dread and
alarm; Tor they would not know al what
moment they might be called upon 10
d'sg"rge every dollar in their vaults. in
order 10 enable them 10 meet any great
excess NJ revenue liable 20 be produced
by the fluctuations Of trade. And again
-relusal 10 receive their notes BY The
government. will stamp dlseredil on their
very faces: u will alarm the Ignorant and
the limid. and. al every temporary lluciu.
alton IN trade or business. their notes
would poaS in upon them. Nov, sir, 1
am not 10 be understood as standing up
here ~ ihe especial advocate of banks.
! know u u fashionable. in q certain
quarter. % denonnce every man as q
hank-bIibei arIsiocral. Who dares D. utter
word IN defence Of these valuable
institutions. II j. q matter Of but lnlle
moment 10 me. Il nv name should he
assarlaled with The distinguished patriots
Of the country. ~ being denounced -
h.nk.b"nghl. or ~ an srisl0craI. | sup
pose ] sh"nld rather consider IL as a com.
plImrnL | will remark. however. that so
f.r from NV being interested 20 banks.
excepI as member Of the community Al
large. know perhaps less about the
details Of banking transactions. than OF
any other polIIIcal question TO which l
have ever turned my attention. My
npInions. IN regard Ia them. are drswa
from general principles. and from dis
Interested observation.
| lonk upon The abuses Of banking. ss
me IT the nscessary aud indispensable
evils Of IRE government especially when
una"rlhy men are trusted with The reins
" power. We cdnnui expect 10 arrive
81 perfection in the arrangement or any
system; tvs contrary 10 tie dispensalions
al an sll-wrse Providence, that man should
reach pedrcuon w.r-ie~Tu- this state al
prnhstlon. Ever since our first parent:
we're driven from The bowers Of Eden,
under the unalIerable decree" Cursed
is The ground for Thy sake; in sorrow
shalt thou cal OF il all the DAYS Of lhy
l,fe, man has had las happiness alIovet
~ilh pain. and seen all has vain eilorl,
tall lar shnri al their design.
Because the banking system has beer
abused, berause It's excesses have cause,
a temporary arrangement, IL Is no reason
Why we shUnld denonuce IL as sllogelhe
peTniciuus, and discard IL IRON our cnnli
deuce entirely. There is not one of TN
blessings wHh which Providence has gilt
ed u. that may not. by improper use
he converted To our destruction. Th,
I tire which prepares our Inod aud minister
to nur rnmlur,. when IN the hands Of thj
Inrenhlary NAV be employed in layin,
our Dwellings IN ruius and demolIshinl
the warks OF ages. The very clouds 0
heaven. whose showers purify the s,mos
phcre aud frrlilize our fields, when lash
ed into tempest, lay low in moment III
structures Of the ARTIST and the laburs n
husbaudman, scattering ruin and desola
IIun ~ their train. Besides, there ar
associations connected with The hislar,
Of the banking system. which identify
with the very name Of liberty. Look a
the origin " banks. DO you find then
firs, springing NJ in land Of despolism
or land 81 freedom, The Bank Of We
nice, established IN I'LL, that Of Genna
in l345. and that Of Amsterdam, in 1908
were The three first banks known TO ,h,
commercial world; and lei il never be fnr
gotten. that they were M, only establish
ed in free governments. but that it was i
an age Of despo,ism. and when the gllm
merIngs Of Ireedom had jus, begun Il
B, dawn. These banks were the legitimat
offspring Of commerce, for every one q
all acquainted with history. knows tina
,hnse en,erpr'sing cities were engaged =
commerce. while the surrounding worl
was locked up in The chains Of the leuds
system. Look a, England. that coun,r,
from whom we obtained our earliest idea
oi liberty. enjoying a degree Of lreedor
uukuown To the rest of Europe, her ar,
and her arms The admiration Of The world
her literature, Frightening, by its perusa
The fare IL genius ~ every cline wher
c,v,llz atiun has dawneti, her navles cove,
ing every ncean. her manufactures cloil
ING every people, d" from Greenland's ic
mountain. To Indla's coral strand" |
that country, the banking system hs
Iuund especial favor, and has been use
as one of the main agents Of her grea,nes
aud glory. The Bank Of England wa
chartered in 1894, only six wears al.t
4 ..fN 80