The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-11-14

master all resistance, and 10 COuSummatc
It's schemes of confusion and rum. 1t has
trlumphcd-and IN the midst Of the distress
and desolatlon which its victory has occa-
stoned, We leave it (if the people are con-
tent TO tolerate its continuance III power
to devise such cxpedients as It's knavery
or folly may suggest to repair the mischief
of its own hands. We offer no further re.
slstance TO its projects for reforming the
currency-it has the power to carry them
through; but we will exercise the rights
and privileges of freemen, and hold it re-
sponsible for the RESULTS Of its admins.
trat!On.
We extract from the Neic- York Reuiep
the following Just observations on Money
and Banks. The question now really at
issue between the followers of Benton, and
the resL41he community, is, not whether
We s~ll have paper or metallic money
for the world has already decided as to
that-but whether we shall have bad pa.
per money or good paper money.
This step Of our reasoning brings US
then TO the conclusion, that banks OF some
kind or other are matter both of public
convenience and public safety-they give
to private credits facility and security.
Had we no bankers in the country, we
should still have credits, and those credits
constituting paper money. Individual Sc.
curites would supply the place Of bank Sc.
curites, and the only difference would be,
that the nation would have a paper clrcu-
lation, less convenient and sate-our paper
money would be one of petty localities, Of
streets and neighborhoods, incapable OF
settling exchanges, and requiring the &C.
tual transmission of coin IN all payments
between places. Under such condition
of things, it is obvious that the second step
of credit must be taken-society cannot
get on without it. The first was to substi.
tute promlssory for an actual payment
the second is to give to those promises a
current andunquestionedya value, by eXchang.
ing that Of the individual, for those Of as
ISOLATED capitalists. Such persons when
associated together for that end, constitute
bank. Banks, therefore, are needlul as.
sociations in some form or other-they be.
long to the expanding energies of ma.
TONS industry, and are part Of the neces.
sary machinery of commerce. Banks
therefore, are but functions Of credit, which
grow up with the advance of a freely ex,
panding society, and can no more be per.
manently put down, or cast out Of natlon's
use, when society has come to the stage
that demands them, than could any other
force Of labor.savlng machinery. The
hand of arbitrary power may, indeed, put
down any thing for a moment, but there
are some things that will not stay "pul -
and banks are Of them they are an essen.
tial part Of the locomotive by which the
country is moving onward-and, in some
form or other, will exist, and, though put
down, will grow up, and only the more
rank and rapid, from the vain and insane
attempt of our rulers to extirpate them
The only choice, IN point of fact, left to the
government, is, whether the banks Of the
country shall be good or bad-sound or un.
sound. Banks or no banks--crcdit OF
hard money, is different question, and a
choice not within their power; the nature
Of man, working under its own unchanging
laws, has already settled that question
the days of hard money and no credit, are
days gone by, and will return no more
and though the nation may be frightened
for moment, into the hope or fear Of It's
coming back, it is against natures laws
the stream rolls on, and man, with his puny
strength, will be found attempting to stop
the current in vain. God. Tel.
Multicaulis.- the $4,000 trees ad.
vertised to be sold on Monday, at Burling.
ton, New Jersey, about 10000 only were
sold, at u cents for small trees, and III
cents for four or five feet trees, the sale OF
the remainder being stopped.
A great lie, says Crabbe, is like big
fish on dry land. 1t may fret and fling
and make rightful pother, but it can't
bite YOU bu have only to let it lie still
and ale cruelty of Itself,