The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-05-14

the revenues Of this great people are made
quate to maintain lis government. This
being the undenlable condition OF the coun
try, what Is proposed by our rulers for the
relief Of tho people : Literally nothing
Instead Of learning wisdom from the past,
and surrendenng all their unprinciped ex.
periments upon the institutions of the coun.
try, they still cry on, against the Banks
aud the ACKNOWLEDGEMENTS credit and in.
dustry, and renew their promises Of hard
money Us the cure for all our evils. There
is one difference however obseryabe-ior.
merly, we were promised immediate enjoy
ment Of the great good wiihou, previous
| purgalory OF preparaliou-now, all Is left
i indefinite as TO time the President informs
US that We must prepare to make great sac.
I rlfces--to bear our sulieriHgs 10 patience,
and a, some distant day, and by some IN.
explolned process of acquisition, the hard
money will come and all will be we'll. Bot
though nothing IS proposed for the relief
OF the people, plan is now urged forward
for the relief of the Government and the
enrIchng Of the efEicc holders. This plan
IS the Sub treasury-,he bill 10 establish II
was passed IN the Senate By less than the
halt OF that body when foil, and il was bur
ried through, though delay was urged upon
the Administration party until the vacant
seats could be filled, and though the state
Of things in the House was such as to pre-.
vent all hone that II could be acted on there
for many weeks. In the House, the Ad.
mmstraiion party are Tow striving 10 make
the contested seats from New Jersey de.
pend not on the number OF lawful votes, but
on the majority of all the votes lawful aud
unlawful good and bad,t in order 10 com.
mand a clear majority 10 carry out this
scheme. This measure, after having beel
repeatedly condemned by Congress and the
people, there Is strong reason 10 fear will
be passed at the present session and as are
the means used TO obtain its passage, 50 is
the character Of the measure itself |, is
called the independent Treasury" and
50 in one sense i, is. |, IS independent Of
all connection With the business, Of all sym.
paihy With The distresses, oil all efforts for
the relief aud assistance of the people but
II IS totally dependant on Executive control
is intended TO place the purse OF the ma.
ton in the hands OF the President, and 10
enable him by ne Intervention Of his thous.
aud officers, concerned 10 the collection and
disbursement Of bis hard money revenue,
and the management Of his graod Govern.
menl Bank founded lhereupon, 10 make us as
dependant upon him as the treasury will be.
Bot vhat is the measure /, proposes,
shen !; shall be IN full operation, collection
Of all the dues 10 the public in hard money.
Ii this shall not, IN It's consequences neces.
sauly destroy oil our banks, then We shall
have one currency for the people, consist.
ing Of paper money, deprecated by the &C.
uon Of the Government, 10 which we are
TO receive and 10 pay our debts. aud with
which We arc TO be content; aud another
currency, consisting Of Gold and Silver Cor
the use Of the Government aud lis officers
and agents, 10 which all that owe the goy.
efonen,, must pay, &c, i, bow they can
md tben farewell, long farewell, TO the
specie lilusiou-iho hard money humbug,
with which the people Of this country have
been so long amused. But If this measure
shall oblige all our banks to wind ups
seems 10 be the opinion o! those who have
the best means OF forming correct ludg
menI on the suhlect--It Il shall destroy the
usual credt system Of the country, sho can
conceive the miserable consequences to our
society Atdcbis TO be collected without
the usual iacahes for obtaining iunds-lhe
price Of labor aid Of produce TO bc reduced
TO a specie s;ontard, probably to one third
or one halfot the resent amount. Fellow.
Citizens, consider he matter for moment,
aud cndeavor 10 relize the results. How,
under such CIRCUMSTANCES, can q poor man,
or man OF moderaioueeas, pay his debts
If mechanic or lahrer owes few hun.
bred dollars, which he's Jus, able to pay
when hls wages are at on dollar and a half,
or one dollar day, how on he make pay.
mcni when the deb, remdonr the same,
the wages are reduced TO tI.ee quarters or
half dolarl liza man ha purchased
piece Of land, as an advnn,ageds settlement
+ for hts increasing family a, 500, and hav
inn paid half, lis value, IS redsed to the /.
specie standard, is not the part I'D an en-. 1
tire loss the lend being wort in the /
whole, when measured by the new sudard,
Just the moiety which remains unpul 1t.
is said the price Of every thing being duo.
ed in the same proportion, the inJuriouson.
sequences will not follow 10 those who We
nothing. Suppose this were so, how my
of us will it comfort How many OF US a.
in that happy condition TO owe no debts i
And pray, is being in debt such crime
that no sympathy is due, no care to be ia
ken in tho legislation of the country for thu
man tina, owes money! Is 1t sufficient L
saw those who owe no man any thlng-thos'
who are beforehand IN the world-the cred
,,or mart of the nation will not suffer; an'
as to the rest, il people will be IN debt, 10
them suffer. This is mos. revolving doc
trine. But Is it true, that none but In
debtor class will suffer Ii is not true
supposinp that oil prices should be aiiecte'
~ .n.aa s,oiia II will not be th