The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-04-18

Isd by The administration 40 their fiscal |
sgenls slisr The Uniled States Bank had
ceased 10 perform thst trust Nos. -
Ihess are the only banks, from which en-
snaie nearly al The actual currency ard
circulation Of The country. 10 10 not The
dictate Of wisdom and tie duty Of pat
riolism rather 10 preserve Than 10 des-
troy these institutions aud their money,
10 which The states and The people have
such direct and deep interest! Is IL
right. just. or polite for the General Gov
eminent 10 do any act, or pass sny mea-
sure. which shall dspreeiste and destroy
the value Of this paper money, whereby
the honest and innocent holders. Who gave
and paid full price for il. lose their money
and property too! According 10 The most
accurate estimates | can obtain. there are
about eight hundred banks in the different
states Of The Union. which have noIes or
bills in circulstion as currency 10 The sg-l
lgregale amount IL more Than iour hund-l
red millions Of dollars while there isl
but about eighty millions Of dollars Of
gold and silver colo in circulation in the
United States. This relative proportional
Of The tao kinds Of money shows the
danger TO be apprehended from disturb
ing the basement story and thereby rem
dering NE foundation insecure. IL the
underpinning be removed. the superslruc-
ture erected thereon will Ioiler and fall.
The question 10 not. al this late period,
what ought 10 have been the measures
and policy Of The Government, in ty-
gone days nor is il the question, now,
how we came into the midst Of this bloal.
ed currency and excess Of paper money !;
but how are we 10 be exlricslcd aud re-
Iieyed from these difficulties without in.
u Jury 10 the people and The Government.
" The President, in his Sub-Treasury
u scheme. proposes to furnish relief to the
! Government, but none to the people.
, Now. think this partial, unequal, and
unjust. The banks have all, or nearly
ali. again resumed specie pay menls and
their notes are current, and constitute
the ehiel circulation Of The business trans
. actions Of the country. The expendi
I lures Of the Government have recently
been between thirty and forty millions Of
J dollars year. Now, suppose forty mil
e, lions Of dollars in gold and silver be abb
slracled from the banks and the people
! 10 pay and supper. the expenses Of the
4 Movement: there is one half Of all the
|; Hcoin in the country suddenly Withdrawn
a from the trade and commerce Of the peo-
0 pie. This would be killing the goose
\ that laid The golden eggs. IL would in.
q flict a fatal blow on credit and confidence,
b which constitute the very spirit and soul
1 Of trade and commerce. Another sus-
3 pension Of specie payments would follow
2 prices would quickly fall--and the
! states and people would suffer great
: embarrassment. and distress. The sub
: treasury proposes two kinds Of currency
e the better sort for the Government ;
q, aud the baser Kind for the people: gold
III ard silver for the President and office
! holders: bank bills and deprecated pa
per Tor the people and tax payers. Now,
!. | see no SOFT Of equality in this proposi-
T, ton; but rank injustice. What! shall
: la party Of individuals, who happen to be
members Of Congress, and dressed with
ii liule btief authority, vote 10 feed
: themselves GU, OF The public treasury with
silver spoons out OF golden dishes; while
: their Constituents are shGflled OF and fed
| with horn spoons out 81 wooden trench
ersl Surely. surely there can be no e.
quail rights in this bold and contend
Cor these principles; That the Govern
: rnent is a trust 10 be administered, and
not property 10 be enjoyed; that the
Government is 10 duty bound, no. only
: 10 furnish ilsell. but the people. with .
good, sound, uniform Currency !; that
4 whatever currency the Government uses
as money, the people have an equal right
i to use and cnjoy the same; aud further.
II whenever the currencyis deranged and
y deprecated. il lie the high daty Of CO.
sernment 10 correct and remedy the mis-.
chief, and prevent frauds aud peculaiions
4 on the people. The character and ten
dency Of this cub treasury scheme are 20
4 abstract and withdraw oil the gold and
silver rom the farmers and mechauics in
Y The interior Of the country. and accumu-
lsts and Concentrate j, in ,hslarge Giles.
! around the custom houses where. the
Federal Government collects IFS de-
! lmands.
To, Illustrate this proposition of the
. President suppose ina, the sherifls and
. tax collectors Of Narth Carolina were or
dered by Law 10 ccllec, all their taxes
\ (which is bui about one iweay-sixth
part Of what is due The United States.
IN gold and silver only; could The peo-
I pie pay il wi,hou, great suffering and sa-
crifeei Would not the family.safe. the
T li,tle ill Of the big chesi,.be violated and
robbed, to satisfy The hard money de-
mands of the oiTiceri Further TO Illus
Il. 4 -