The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-07-04
From The Fayetteville Observes.
A NEW TRICK.

III A NEW TRICK.
We understand thai On individul in on
Of The upper eounliss OF this District. xhs
cannot plead ignorance 80 an excuse 10
The aflsmpl 10 gull his less informed
neighbors. has possessed himself ola s5l
Treasury Note, which be exhibits 70 the
poor people around him, as .. Sub-TTess,
ury money" or money Of The Sub-I'Tess-
uTy Bank; telling them. that BY establish.
Iing such Bank. the people sill be FUR.
hished Nth . currency =, all tines bear
ing interest a. The rate Of 9 per cent Il
Is scarcely credible that any person Of
character would descend 10 50 shallow IN
sriiiee, OF Ihat il should have the power
To deceive any. Bu, displaced conf.
denee IN The man having induced some
10 believe the story, il Is worth while %
IeluIe IL.
These Treasury Noles are not money.
They we're issued by the United States
because The Treasury was enpIy,!on &C.
count Of plumber and extravaganza. and
the Administration had TO borrow money.
and these are Us no,es. by which IL pro-
misses 10 pay money thus borrowed.
They are Just such evidences Of debt a.
one man xho bOrrows money, gives 10 an
other from whom he boTTows IL. promis-
ing 10 pay him the principal with @ per CT.
interest. In this case, however. the pro-
PIE pay the principle and interest; and
ersTy one Of those deiuded uOfers has 10
pay portion ef The sum Which their rich
neigh6ors is 10 rseeirs for his so TreG-
stIry Notes. lie is entilled 20 his
money with six per cent. interest. M is
true. but tkey contribute TO pay il to him.
Just so II would be il the government we're
indeed 10 establish Sub-Treasury Bank.
and issue Notes bearing interest. This
single individual perhaps, in oil his neigla-
borhoOd. might have the good fortune 70
receive one oi those notes, and would be
benefited by receiving interest on his
money. whilst all the Others would have
To pay il To him. Indirectly indeed, but
not less surely.
But is 1t The design Of tue Administra.
ton TO establish q Sub Treasury Bankl
Such design has ofIsn been charged upon
them. but they have denied il. Will .
party that has put down q National Bank.
because is great poser was supposed TO
be dangerous 10 liberty. themselves cree
ATE one, with not only the power TO make
money. and requisite its abundance or
Scarcity, but also with the addition OF
The already overwhelming power al
The Executive! II The liberties Of the
country were in danger from a Bank
which had the whole power and patron
age Of The government opposed 10 IL, wha,
would become OF them II all that power
and patronage were 10 League with the
Bank! No scheme could be devised TO
make the Executive stronger; i, would be
90 strong for the people who created and
ought TO control IL. Il 10 now too s,roag;
'UI lie present Strengths weakness COM
barred with what il would be with an alb
'oluie control over The currency Of The
'oUnIry. Lei the people beware, there
ore. how they tolerate The idea Of The
government usurping so fatal a power, for
aIsl u would be 10 their prosperity and |
0 IlIeir liberty. Let them frosn upon
III IhUse Who attempt 10 deceive ihem BY |
alse representations. That cause can.
lot be sound which requires such means
0 sustain IL.