The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-04-30

81 day o. March. 1880.
by George IL. Badger, Esq.
And Psblished q he request el his
fiiaw eiilzens.
MR. CHAIRsAs:-I avail myself of die
iasilsiion which has just bsen given Ine.
N express my opiniuns 20 lhis meeting
81 my fellow eitzrns. on lhe condition
ann pfnspecls az our country. We have
certainly much Ca demand careful scrH-
my. aud nnt liille ta exeile anxisly and
alarm. Eleven years ago. the present
sdminls'rsilaas assumed The management
al public affairs. The general condition
al The cousiry was then sound--lhe cur
reney and exchanges. trade and business,
were IN Satisfactory state; and in 81 The
pursuits Of life. industry and prudence
commended lhe reward 90 which they
are entitled. Whsleser statements IN
snne particulars ough, 10 qualify this
statement. 10 general truth and earrec,-
ness cannot be Justly qneslioned-and
with regard TO the currency. 10 suhiect 10
nn abatement. We, were Then. upon The
Whale. happy and fourishing peaple.
What has been the eiTecI nf these eleven
years upon nur sfsirsi What is our 81
iuaiion nOr? Surely no one Is 50 isno-
rant as not 90 know, that our situation is
materially changed FOR The worse-Ilst
this effect has been injurious and even
disastrous. We were inld that our cur
rtncy (lhe best in The worldl WAS mol
gond enough. and thai we mus, have
better. 10 accomplish this. course of
experiments was commenced upon The
Banking and credit sysiem-up0n the
properly and Industry Of The country.
Esch experiment, was ushered in with the
promise Of golden results; and though
each in time was followed by a signal
failure. the assurance MAS sill a. strong
in favor Of the next; and. we were told,
that LILLE faith aud patience. would en-
able US 10 reap from fh0f. The harves, Of
Which tie former had been found 50 bar
rem. The great good--lhe highest bles.
sing which our rulers promised us-was
hard money currency--sn entire .pe-
Gle eirculalion--and from tine 10 time,
during these years Of experiment, The
mnnlh. almost the day was fixed, when
The paper rags should disappear, aud .
golden shower should gu our purses.
But siIll. as The appointed lime approach
ed. il was found convenient or necessary
To postpone The accomplishment. I'LL an
olher and more distant day. And how
s,.nds i, with M no~f Amer me len
years of patience and snTering-conslsn,
fluctuations in the prices Of labor and Of
pruduce--sre we any nearer 10 ;.a- sald-
en- age OF prosperity! BY no means
The price Of our staples is now depreci-
sled beyond all experience. since The war
OF 1912. Cotton, for example, even in
The favored region Of Alabama. is selling
al Eve cents; our debts are unpaid, and
money daily becoming scsrcer. The
bank notes. indeed, are disappearing, bul
alas! no approach is yet made TO the hard
4 money substitute. Meantime. bank.
lruplcy seems 10 have overlaken the irea.
sury of The nation. A short time ago,
our revenue was so large. overaowing
even beyond the extravag ant ex pen,ll,ures
OF the administration. that il was necessa
~ To devise some way to dispose Of th,
surplus. in order 10 avoid the inconveni
pnce and danger Of large accumulation
II was concluded 10 ask the states To taxi,
charge Of this superhuous fund, and al
act was passed for It's distribution; bu
scarce had the execution Of the law com
menced, when i, was found necessary I,
suspend il. The public Golfers wer,
empty. aud at every Session Of Congres,
since The election oil Mr.. Van Duren
Iosns have been required 10 defray ,h'
expenses Of The government. On ever,
application il has been urged. that ih,
want was merely lemporary--thal insies'
of q regular loan. an issue Of ueasur,
notes for The moment was all that coul,
be required. and that the Immediate pres
sure over the ordinary revenue would an
swer all the demands upon it. But ,hes'
i opinions, like the promises Of speci
circulation, have been dnomed 10 disap
VutUtUCWt-dt CdCU ScSeiVUs HS"
have been found: for new issues Of ,rea
sury notes. and they seem nnw to has
, beccme the regular mode Of suppl, ing III
, public npcessiues. They are preierre
by the administration. because they ar
loans in disguise-but however DISCUS
ed. they are loans in fact. AMI show thu
our affairs have been grossly mismansg
:. ed. when in time of peace with all fl
=. reign nations. aud free from nation;
y debt, the revenues al this great penpl
> are inadequate to maintain its government
This being the undeniable condition I
the country, wha, is proposed by our ru
: ers far the relief of the people! I.itrra
e Iy nothing. Instead OF learning wisdo
c from the past. aud surrendering their vi
ptincipled experiments upon all The inst
tu,ians of the country, they sui cry o
against the banks and The merchants
against credit and industry. and rene
: their promises Of hard money as The Gu
m III have treated the present and last Adu
=, uistratiou as one, because Mr.. Van Buren, pI
- iesses but TO follow in the footsteps oil his pl
lecessor. ...ra.> -.