The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-10-01

ard expensive. That would impede, no,
speed the plough. A Pra.iicGl farmer
makes The groundwork Of his plough of iron,
but the stock, beam, and handles may be
made TO advantage Of good wood they
are lighter, cheaper, and more convenient
In this say every body, the poor as well
as the rich, may use and own that useful
instrument which cultivates the fruits OF the
earth. In like manner, good currency
may be made to general advantage out OF
precious metal and paper united so thai all
who work may live, bold and ENJOY q Por'
lion of the currency, which is rendered
more abundant, convenient, aud useful BY
a proper Nurture Of suitable materials.
The planters and farmers, generally have
but little direct intercourse with banks
vet, there IS no class Of The community Who
derive greater profits and advantages from
the eristence of sound banks. They want
q good market to sell their cetton, gram,
and other articles. The merchant obtains
accommodation, and borroWs fifty thousand
dollars Of the bank, and pays the planters
and farmers that sum in bank notes for their
cotton and grain. Fifty thousand dollars
are then distributed and circulated 10 small
or sums, through smaller channels, in the
country, until supply and demand have con
summated their contracts, and administer
ed comfort and convenience 10 all through
whose hands It passed. Again, 1t returns
TO the bank, TO afford accommodation and
facilities TO other persons aud places, whose
vocation and business require the helping
hand Of currency. Like the heart. 1t dis
tributes and circulales The blood through
the veins, to all and every part Of the sys.
TEN shIch needs the natural currency OF life.
Sound banks are useful instruments to
Government, aud beneficial institutions TO
the people-the. furnish and supply capital
and currency for pubic revenue, and prl.
rate funds, TO maintain and foster all the
great interests OF the country. SILL, am
dlsdys jealous and uatchfI Of Porer,
whether it be eecuniary or political because
Il ss constantly liable to abuse. The test 10
sirumeuis may be applied and perverted to
the T6ra Of purposes. look upon bank
Just as do upon fire in chimney useful
IN lis proper place-a good servant, bu, a
bad master. Fire, v bile confined TO It's ap
pTopriaie sphere, within limited banks and
safe bounds, is very useful, ard absolutely
necessary to comfort, aud 10 sustain life /:
and yet that very elemeot, which cooks our
daily food, may by negligence, accident,
or abuse, destroy all our comfort, property,
and life itself. The fault is not 10 the use
bat abuse, of the element employed
When q house Is burnt, or q steamboat
blown Up, no one thinks Of abandoning the
use Of FIRE and steam. So when bank
breaks, or s1sPeuds specie payments, the
fault is 10, owing h any radical defect 10
The genera prl0cia.e used, bu' is attribute
BE to the pplicg'i5a and abuse Of bank.
ing. believe We have entirely too many
banks, TOO Euea bank capital aud TOO many
9iFertnt kinds Of notes circulating as mo
Bey. The excuses and sbuse- Of the sys
ten are felt ard Acknowledged. Reform
and correction are greatly reeded, The
remedy and the rod are 10 The hands Of the
people themselves. | hope an enlightened
public oplnIun all SOM Distinguish and
separate between the geod uhedt aud the
sGres. II Is The duty OF the Government,
:5a; creates corporation, 10 see that Il
faithfully performs its siipulaiIons, and re
deems ITS promises. TINS General Gov
eminent can, al any time, exercise com.
handing coulro! and porerful influence, for
good or for evil, oye' all the money matters
and banking institutions of this country
Whenever TINS mighty machine, through
whose treasury thir'y or forty millions Of
dollars pass every year, rscetrts the notes
of any bank IN pa tnenl Of public dues, that
single fec, laspives confidence erery rhere,
and is bills pssg cufreaiiy, as Il endorsed
by tie United S'a'ss. And whenever the
notes Of any bark are refused al the Treas
NY, tbgt moment credit ard confidence are
lost and Withdrawn by the public. Tbs
Government ho,ds he standard IL Law, and
N fact, Of toe value of all money-ils
breath eau make, or UDmake the currency
Iii IS tAg Sgq Of the monetary system
the MINOR State planets can do bu, little 10
general currency, without its AID and iuhu
ence-it csa bite and blight the summer S
fruil si,n winters ffost-or the kindly &C.
ton Of this ceuirs SUI can make /" the wiz
ter Of our tlscoa.eu,, GLORIOUS sumner"
IL! the illustrate. Suppose, on the first
day of January last, A sells to B tract n
and for $1,000; conveyance 10 executed
aui possession gtsen. b paid down $500
and gave BIS note for $500, payable next
January. When the land vas sold, this
Ggyerameut received bsak notes OF The
Treasury 10 payment of tie dues. The
Sub treasury btl viil DOW PASS. and bank
notes SilI b. hereafter refused az the Trea
sary, and al. property Of the people vii
thereby be sunk two thirds 10 yane. p +.
sued for $500. the last half Of The purchase
money. The very same tract Of land Is
sold, upon judgment aud execution, to 4
the plaintiff Tor $500; and B yet owes hin
$500. Nov this rank iajuStice has beer
produced b. the action Of this Federal Go
vernmeni refusing 10 reeeire the common
currency Of the country, aud thereby depre
ctdtsd all bank notes. Z could not sell his