The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-10-31

secure lie safety q suHsney, Ne SIC
not Oaly in great PFTl Of PaPsE meh'
sF sFslrm. bul UF nmh 70 maiEiain
Ihss which is one % The best, the east
sess. lhe most grateful. and the sirongsss
.Iis. of our National Union" .
The Administration took the ground
lhal NO such currency Has Ffqnisiif;--
,hsl ,he isolated sbac Institutions. char
tsrsd IN Inrnsy-siK diiFrrent sovereign
lir.. rrssIaled BY different LAWS. aching
wiuLoul rpnrelI or co operation. govern
el hy different. and. In many eases. rnn.
flirting interests. with no common brad
or direction. reulJ mainlsin themselves
IN . solvent ronGilion. and laTnish The
county with . Better cuTTency.-
Whist has hren The result! A Mr. w.
predieIrd-disorgsnizaiinn. state stcuri.
aes. bills Of credit. corporation bonds, ard
paper money. Tie control over lhe
common currency has been utterly >
banAoned by IRE Federal Government.
and ne have before ". in one uni'eF.
sal suspension. .abnndani proof Of Tie
folly. imberiliiy. and madness Of Ihe
eounssls which hare hesn ascendant for
he last ten years in the National Al.
minisiraiion.
The Whole existing state of things. -
far - The currency is concerned. Is The
necessary. The inevitable. the foreknown
and foreiold resulI al he abandonment
BY The General Government Of is L.
gl,imaIe duiiss. Il has been found i'm.
possible 10 maintain . banking system
generally sound. IN The ni.!s, Of The con-
illcling jealousies and interests Of state
soEsreignIies, without The ro-opsrsiinn
Of The Federal Government. Dot in re-
gard 10 our present system. not only has
that Government abandoned all charge II
the currency, but il has Waged = direct
war upon the sisle institutions, which
!, once pledged il'rll 10 project. The
Federal Administration has declaIeJ
''War TO The knife" against the banking
system. The supporters of The Admin.
Isiralion have been INV elried in their e.
fnrs Ia bring abngl this second suspea.
sion. They have deemed il essential to
the success Of their grand scheme Tor the
concentration 81 the money power in The
hands Of The President. Mare than three
mnRlhs ago. on The evidence Of letters Of
Mr.. buchanan and Mr. Benton. and Of
the infamous declaration Of The Globe.
we charged upon the Administration the
deliberate intention ol bringing about the
pFesen, catastrophe. Unfortunately, We.
~ Little active and direct interference Of
the GoSsrnmer, was necessary ; for il
lad alresdy prepared the way By It's
whole financial policy.
All the measures aud doctrines of tie
Administration tend IN The abolition Of
the currency Of credit, and The employ
ment Of currency exclusively metallic.
II isccolncnism remains in power. II will
undoubtedly maintain its struggle fcr the
utter overihrov Of the banking sysnm.
This is now lis aTnwcd UhieeI-uoi re-
reform. but destruction. II the People
are prepared for this experimental they
are ready Tor return ~ the exclusive
eircnlatiln 81 the preciius meiAls-if
they are satisfied with = financial policy
which has overwhelmed us with renew
ed disaster aud renewed disgrace: IL thew
will leave every state in the Union al The
mercy Of the individual action Of Other
states. there il no alternative but submis-
sion. be the consequences What they mar.
Before leaving this suhiec, fnr the pre-
sent. we would beg Of Mr.. Wright. ahrn
he again takes his seat in The Senaic. 10
make due acknowledgment 10 lie Srna-
1ors from whom he differed Ia 1891: AMI
To confess that. contrary 10 lis owR re-
peaied assurance. am ia spite of his own
enforcement. the stats barssl
have. within Eve years, iwicU verified
their prcd.eiionsl