The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-08-08

banking lntlilalauns here. are A. .
= Ihose II she lhEes elsssss Sri n,.,.;.-
"a. Damsly, that he prics sI.ssla 4.
1ps.l. hal 4 may b steady. aaa II -. :.
Fealixallen.
;. The interest 81 he British g:.,...
meat 81 he Dsnk u England. and 4 -
banks q lhal eounlry IN respse. i III.
article. are The same - he in,,,s.,.
lie banks here. The imporsa,ioa -
being immense, and ne emnlo.m...
II > most numerous body q lie I.hs,;.aa
classes, Depending On he sle,din...
pHires. When ihey are nm SEA-. =.
iUFeign demand for manufactured 90 -
u reduced greatly. ne opss.ti,.. -
sfrogn nul " employment ana n, 80.
Hesns II seiiiag lie balance II 80
without the esporisiinn of he n,,.;.....
metals are Withdrawn. Manrlae,s,ss
so,tcns ssEarding By lar The no., me-
ant bFaEsh 81 lhrir Ell OIL lssae.
q. Consequently. any arrsnr,u,.,
that could Be formed. III alih ~
iiele would lie proleetsd from liz "a
iseIs oI undue speculation. and I'm.
depression IN The money ma.Ist mi
By which sleadlnrss of prize. win ca,
Eeney u sale, would be rrcmoltd--wo,la
save some III Tie gfestesi aud btu a.
trrests in both enunlries.
:. II - lhsrsi"re proposed 10 form ,
system. si'h The Commencement n a.
asw rrrr, advances en- cat.an shan 4.
made with Tie capital or credit II t.uI,
here. thereby relieving the eonsixnse -
Europe from I'll care or ransidsr,,,op
except the advantageous sale ol his .,tsk
alHich would promoIs sll desc inI.,,,,,
and Afford general satisfaction On bo,h
sides Of the wafer, provide 4 il wsre 70,
made the meats ri dIrsrlly CT iuditrl!,.
oil undue speculation o. Iaonopoly.
Having thus indira,ed tie rtlrei,l,,
on which the proposed sssum mn,
lind iis justification and hssi,. Ne vii
now ~ susr'neily - possible, detail ,Ls
means ol carr, ing il inln sfTssl.
We are lar from imruling sny rrtns.
dI'aied hostility ef the Bsnk Of Ersl.,a
10 American interests; on lie ronirsry.
II il orc Of lie bsnssolcul influence, #
commercial intercourse to psomrts r,aee
and good viii spnng III nations stJ nts.
Hence thls great engine Of tile eoum.r.
e'sl grandeur aud opulenee Of Graz mi.
tain acting undrr an enlightened instinct.
must rather desire that II. bssl su.,ep,,
should ~ all times be 10 condition 10
meet her engagements wiih tnlhe tutc.
lualIty and success.
hut there are epuchs in lie con utts
OF England. whether from insullirisn,
harSss1s. and languid demand iar Ltr
manufactures. or political examinations,
when The bank Ray irom IN utgtnl 10.
hey Lnn her discounts aud inetss,e Ter
rate u InIrrssI. This t,snt ran nest,
occur without IL having = llsfLlinf In.
nnenrs 90 any sutplus VI our graf s,a.
PIE whieh might h. pnsaId ia England.
Surely II tie Bsnk II England can Il.
ereise unasoidsbly an influence thu, prs.
Indseisl, nc aay ,ssou Ia our Own Aas.
nesn Banks. - means Of ,ecutity and
protection. without the insidinus cl.ues
u combination and monopoly. II 10
time that the absurd and scnssless CIV on
The subject "t Tie banks making adssn.
res Oh sni'on should Be understood, and
hnaliy put down. The truth j. that BIZ
Tie mere Purcha'e OF .be foreign sxehsnr.
e. oil The country. hey adsanrs on near.
ly every bale 81 cotton subject To for.
eIgn export. and This without lhe sseuti.
y Of The bill Of lading and policy Of
insurance, on The mere personal rsspou.
sIbilIiy Of The drawers and rndorsrr. Of
The bill. Hence these losses are eonpr.
hensise and dlsas,ernus aiier every com.
mercisl crisis and rc.ulsion.
Now We propose giving 10 the banks
IN all eases the higher protection Of these
securities. and that rarly mex, autumn.
one or more hanks in esrh Of i've r,sa,
commercial cotton markets III tie South
should commence msklng advances on
The er"p. according 10 scale 10 be gra.
d'tatrd BY what will lie safe rslCulatlon
OF us probable amount, assuming twelve
and half cents III home 10 be about Tie
lair natural average and rsmunsratIrg
Price III this staple. On producer Of sA.
teen t1ndstd thousand bales. v hirh is bu.
IS large return - Tie scluai labor II
The country now engaged in this branch
oil industry 10 capable II harvesting. file
EMBELLISHMENTS &c the Suulh.aesurn
states having prevented The planters IN
these states ftnm making anv purchases
Of slaves from tie Atlantic Sia;cs. during
The last NO years. whilst mol less than
ten per cent. vi The slave labor Of The
South has beca absiracted in lhs sane
period from the cultivation oi rouon. snd
applied In 'hr raising ol provisions. and
10 the construction III llnsc extensive
raIl roads now IN progress throughout
Thai portion Of The uuinn.
For these advances We propose that
lie banks should issue 10 The planters.
merchants. and factors oi The county, IN
HE production Of the bill Of ia,lIng. and
It1A r