The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-09-05
sslaleFa sprine.. al. : ,...

ny Dfar oari ! received your i,,..
Of The 2Oth July. from The WLi,e $50
Springs, and regret 20 learn Ih,, q -. -s'
Of our friends have been dsisinsd !. =,
South By The arrangement N IL = =
changes and pressure or lie Tine. r.
wishing these resorts Of health ,aI - ~
cure. TIE pieiufe you have ar.., !,
financial arrangement and eomm.,ir.l a
preston u truly alarming. You =.
ahen are We 10 have an end AZ a.
Ihingsl ] snsuer. only with he .s5 !,
this administration. and ~ilh lhs ,,,S
lishmeni oi . national eusre.ev m.
pressure has already reached ess,v e..
except the salsried Officers Of The so,,,.'
meni. whose income II enhanced Nv a.
diminpiIon III The revenues Of All o,h,,.
II this eonniTy is directly or ,pdu,,J.
interested in commerce and trade. Io,,,.,
or domestic. then 10 sound eresl., .,,,,m
absolutely indispensable Coz i,s so,,,a.
ment and prosperity. II Is The een,,,n.
Iional duty Of The Federal Gavernmep, a
encourage and establish The safest ,y,,,~
ofcTedI which lis experience and si,dam
can supply. In the present condition AZ
the mercantile community. sxpsrirn,,
has shown that The people will resor, "a
the best credit system lhey can ob,,;.
All classes have used. and viii eon,iuu.
To emplny, . very Inferior rspressn,a,,,
Of property and cspitsl. when no br,,.,
can be had. The history Of shin pla,,,r,
fully illustrates this. A country wI,hOu,
a good currency is like . iurLulen, ri,,,
without boats or bridges: ia passage can
be secured Tor the safety Of hose Who's,
business eompsls them TO cross and n.
cross. IL ought 10 be done; nor should
any complain who, either being sxperl,,
swimmers. better divers. or whose length
ol limb enables them 10 wade over 9TH
passengers On their shoulders. lhsla good
bridge might limit their occupation. The
community .. large are interested in ,As
establishment Of public bridge for ID,
accommodation Of all.
l. is IN The nature Of things that lie
currency Of . country. lrll 10 lis oun
correction. grows from bad TO uous; and
the longer il 10 left in that condition, The
more serious The labor TO correct and
restore il. The destruction Of The last
national bank will furnish . eurinus and
instructive lesson in history, when lis
faithful record shall be read by an
impartial community. entertaining 90
longer party aud personal prtjudiees and
anImosiIies. There 10 perhaps no excite
meni 20 deep or passion 90 predominant
and controlling. 80 that Of party spirit
When !, vas discovered that The bank
could no longer be controlled for political
purposes. IL became The cardinal policy Of
the parry in poser TO destroy il, per faI
ant nsfas. In ell The executive COMM.
niealion, and private presidential dsnup.
Citations. the suhordinsies were required
In ineulea,e the idea Of deirnda e1 Car
ihagO. 40 applied TO the bank and its
supporter. II appeared TO be forgotten.
IN The warfare thea carried on, that. BY
tie charter Of the bark, il was. among its
other duties. enjoined that I'll ils acts and
proceedings were open TO The inspection
Of a committee ri Congress, and that
monthly returns Of is proceedings were
required BY IFS charter 70 be made To The
treasury department for The Inspection VI
the government and people. No loan.
therefore, can be made To any OF The es.
paf,mens without . publicity which
would enable Congress and the country
10 be informed Of il. Not could The gen.
eral government make loan. or exceed
certain limit. without the knowledge
Aforesaid. but il appears that. alIer The
dsposiies were removed. and The public
moneys placed in ceriain banks called
&" pet banks" one department Of The 60
vsrnmeui borrowed from these banks
large sum without the authority of Con-
rress. which The Senate Of The United
States, without . Dissenting voice. pro-
nouneedillrgaland Unconstitutional. III"
could mt have occurred without the
knosledge Of Congress and the people. u
the United States Bank had been eonlinu'
ed. and the monthly returns required BY
the charter regularly made. From me
moment ofihe destruction OF The bank, anc
the convulsion v hich preceded It's dissolu'
lion, The condition Of The country has
gradually been growing worse and worse
And every arrangement 81 lie finances
falls more heavily upon the southwestern
states than other portions Of the Union
IL was said by one man. whose opinions
have unhappily too erea, an influence N
the Southern states, that the Bank Of mo
United States hal tendency 10 eteat"
cenfralizdiion of the exchanges. TINS
vas promulgated from the direct hosIln'y
that eminen, politician had to New i"'k
and New York politicians al ihst day.
This sbsurdiiy 10 rendered so con.p'cn-
Gus by what has occurred since. that "
requires no refuia,ion. I, was the inter-"
Of the Bank Of tie United States. J"
sustaining an extended circulation. to Keep
down exchanges. And they we're mus
enabled TO transmit funds from Boston 10
n