The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-09-12

of an extensive private interest existing an all
tho States. and engaged in State banks, with /
political parry now endeavoring in turn to des-
troy them.
Prior to that, these institutions were restrained
by the necessary and salutary operations Of a
national bank. The present party in power owe
their existence to these State banks, and to the
vitiaied currency produced by their excessive is
sues, and the inordiuaie speculation which re-
suited from II. Tic greatest evil Of this State
bank system is. that one community, without a.
good currency, Is subjected 10 great pFya,ion and
loss m It's intercourse with another having a
better currency Just man Of industry with
out credit is less capable TO thrive and prosper
than one having both. II one State has an infe-
nor currency TO another State the former, IN in.
;orcourse with the latter. must Of course pay
roundiy for the difference. some of our States,
requiring larger Use of credit. suffer more when
that credit Is shaken than others under different
circumstances; hence all the States that re.
quired the employment OF a more extended cred
il 10 push their private and public enterprises TO
completion whose people, rich in lands and in
dustry, werc vet deficient in active means to
develop their resources OF future wealth, are Of
course greater sufferers when confidence IS DIES.
iroyed, a a; present
The history Of exchanges. domestic or foreign
clearly prove this Inc East now asks OF the
West a difference Of exchange; so the North Of
the South, and the Northeast OF the South Sest
And SO vast 4 difference Is now demanded IA
some caSos, as almost 10 pa, d stop 10 profitable
intercourse. reduce the States 10 the COntetera-
tion, aud destroy the nat,ontality which the Con
stitGtion inicnied 10 4blish. Instead Of re-
riding oarsclyes a. oae nation or community,
interested IN common and general prosperity,
We are ende1yCTIug 10 eXsrt difference Of eX-
a. - -
competition and domestic discreGt among our.
selves or States. in oar intercourse with eaeh 9th.
Ell seriously dlnt,nlshts the credit Of the whole
in lhe estimation OF foreign capitalists. TIE
finances Of coanify are made the peculiar stu.
dv OF statesmen and capitalists abroad and y Is
TO - regretted that tHese have not commanded
more attention ffom shose Who ara ~ car ma
lonal councils, aud Hiuye especially Of the Ina
sarv Department. Ials omission NAV, - some
extent be excused heretofore, whoa l. j. kncwu
ih4i, during lie ysnty yrars @. tie * s,ence %
lhc Bans Of the JaItcd States. all the interests
and rAmtacAtlans III industry and trade we're 80
sHislted from ductu2ilou and d.sor ganit stion Of
currency a. 70 readrs auy attention 10 those op.
es4i'ons unnecessary.
" heu steamt-olt PROGRESSES On her voy7 -
successfully, and I'D accident occurs frw Of the
passengers : op 70 V4Iaine ths engine and ma
~ subject at deep iatcrcst and tho matter Of
high pressure and low pressure - discussed "a
j, : vita oar National aud State currencv Nos
cooten, aslh the good currency We had, consti-
,2'i5u1l scuplss ssxigne7 b. sorBe TOT brt-
ursHE ~ And. against the light Of MI expert
cree wn have hecu hgtrls4 i8te "e1nerigBents~
Noe. the pasty lealcrs wLo TOOK the sss in the
coa5ir' gaiust 3 nRtaa3l bank and IN favor Or
Stale h-g IS, us4Agng or destroy TIE o'hef. torn
w.ta cca4 YIgg- 2R.lnst Tire State y mks, ard
- n0@ tor 10 bana., about far tie same reason
nat an lf-conpsnt and guoraut eaEsuaer, in At
taHnpiiaE 20 alter anA hatter a rao8 engine and
4 iln- e. cxPeri,aeuts to f,il. announces has
aHcoalPronIsIng hostility to al engines and
steamboats,.
y Experience has tllaht IS TN. national h,uk.
aaa r1as'eraie iu :. Of Eoot, se4nd. wsli or
nsz1 >,7ls asHS- beve exercised . s-tutArg
caerk q each other. PRECISELY +. the Geuss ]
Goseram ~ an1 SITE Governments 20 operAie
'or 'a zsaeral rool. We Save tired stats GaY.
eraments FItholi Genersl Government. and i
q atinre. " have tfied State h1nks wfa-
oi a aats0nal bank. aud have expesencsd the
ssuse disastrous rssI.t TIE met Is, Hstiouai
5aas & nc sla Fl orr polts.ll -ystsrn. anI with
o9t . we shaii asye the darkness end confusion
wtJich the planetary tYsicm aau'd e1h.bt Filh.
0H tha great -al tor Of the universe Il was
. 49, a4Kun 81 tic sportsman /. hen he found
= 2 doaht. 60 "try back
" 'as cr..s-, ,la P,aels must CONS 10 ths RS.
ere TIE question = n country md ne n.
tegssif. ], p 20 % zrsntze. politically, this
. ta "a faaH. when ''s 811tYy 81 4 IS hose pre-.
Re % Faf1iYzef- Ia3T. de.usiye .ui seductive
promise p: demo-yeY. this coau,fv i rsps3ig
becoming moaaf-t.rzl. Nea " hamhls talents,
cgs,efli character. aud l.mfe! 3altical kro,gl.
edge ara4ir1 n Influence from office which i.
alsrminy Even Seoetors From lower, irn Ststes.
80 The Repr -aniftlves Of tas People. arr srr7l.
TIMED gr fnat.d rp4t b. o. doE1 .a.t iu pro.
p P1HiDT % Ia CONFORMITY 81 the Executive
Ntlt--wten there are tgp tb0asaad rnan in thc
Iats1 Nt4tes Fhs fsvn IS fiurh - more exnye.
renre tslsuts. ma Information tAan ihs Pfesl-
dent h.a EgcrF man eHo oppos-s the vieg )
81 The FL eat5ye . charged sIth bling pnrchas
= BY t1r bank Is neither oen stock. aud
never Esf la1t " ant o,acr n nsactlon wuh
he bins, and hose Opinions have hrreisfore
.~ea unfortunately not verf popular. | shall a
lest htya ine credit 81 sincerity II Is admitted
= eyef7 one tat tire couatrv j. nov, ard has
5aa9 syHr since Gen Jackson complained thst
C5ngrss would not al h-al far ibe scheme n 1
n''Do4l bank. suffering sor NJ o. ustional
e1Uencf such otsrrrncv an SSH ba equally
good u y points " or v.9t cossn'ry. sud lust
80 ifF s'ter than rom ~ Il j. % transmit, more
7pplic aa 70 de- and czpate II cnuvertibllty
lal0 coia ID points. Ia thr place of thus car.
fency wc hre state bank paper. ~ local credi,
oIlg and pat-ng'es On t.rne which, for all uhv.
E9~es n interchange, are dai.y tcpreciating 20.
III af oHe State are losing confidence ia the ~.
carlties ~ al the States ! am willing 10 BE-
liege 81 the party 'sho rule Tho destnes Of thu
country when they struck fatal blow al the NJ.
tiopa currency by destroying the only Institution
which bld ability to preserve II, had no idea d
placing or industry, capital. and commerce. a,
the mercy of 8 foreign bank.
The Bank Of England il now the Bank Of the
United States. 30 far az !, concerns all the lead
ing objects Of our trade and commerce. and L is