The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-10-22

ArEHaIHu aA-EaAs 49,
bouor a address an asselhaaEe G. ne
..,eh.oss 81 Nsw York. ] asksd thsn
.mans oder dhinga. wheihsr I'll his
e,ernsi cry about . separsnen 81 Bank
.ad sac. wss net all moekery and hum
has--snd Ten thoassnd merchants. inn
a.,eIy seqssialsd xish he wbols ssb-
lei. erred, ..yes. yss--is iss" The iaci
spsssssioaably l.. that The funds 81 The
xorernment are lasl a. much IN he Gus
adv or Ire banks 81 this moment. - lhey
ever wsre; yslal he same tine. believe
shsi under hat law. sheTe does exist, q
Wsshinglon. . vast poser 70 stop. 81 I's
pleasure, al he solvent banks - ihe
eommunily. Such Is The opinion every
xhere held BY he best ialofned nen 10
he commercial parts Of lhs country.
There 10 another expedlent 10 augment
exeenlise power quite novel IN - cha.
rseier. I refer 20 The pogsr conferred
upon the President 10 select from among
she appropriations Of Congress. such %
ne nav suppose The slate Of The urea
sury mott % justify. and may give o.
withheld he public money accordingly.
This is eersainly q msrselioasly demo.
crate doctrine. DO ron not remember
The emphasis with which Dir. Jefferson
expressed himself IN The subject Of spe-
ei6e spproprislionsi The law, a. 4 nov
stands. requires them 70 be specific. II
Congress appropfisle 80 MANY dollars
fsr building Of ships. no part o. me mo.
ney nav be applied 70 The pay OF sal.
Tors ar marines. Bot how has this legal
provision been treated! The restriction
remaius 10 The statute s. j, did before
The appropriations are specific silll-bui
lheu : speci6e pou er i given 10 The Pre-
sideni, 70 dispense with lhe resurrection
and thus one specific 10 SCI against the
other. Let lhis process be carried bu,
one step farther, and although there may
Be . variety Of appropriations made BY
Congress. vel, inasmOch - We have
entire trust and confidence in the exeea
live discretion, that the President will
make The proper selections from among
,hem, therefore. be il enacted. That
shat lillle money thete may q any
lime be found in the Treasury. the Pre-
sidens may expend very much IS sceor-
ding TO his own pleasure.
There is one other topic must no.
omit. I am now endeayoring 10 prove
that OF all men on the face Of the earth.
you OF Virginia. the descendants and dis
ciples Of some Of The greatest men OF The
revolution, are most called 10 repudisss
and 10 condemn The doctrines Of this ad.
minislralion. call upon you 70 apply
10 this administration all that body oil
political truth which you have learned
from Henry, from Jefferson. from Madi.
son. from Wyihe, and that whole con.
slellsiioa Of revolutionary worthless. Of
whom you are justly proud. and under
this light 10 examine and 20 say wheih.
er this present only democratic admins.
Iralion are The issorers OF civil liberty
sud Of state rights. or The reverse. Add
Of The Executive Departments. and Of the
Senate Of The United States. IN regard 10
the right and practice OF The states To con
,ra.t I.b,s fas their own rurroses. Has
il occurred 70 you what deadly blow
they have struck al the just authority and
rights of The s,a.esl Let Us follow this
matter Oh, little. In The palmy times
IL The treasury, when il was not only
lull but overGowing with The public mo
neg, The states 10 very considerable
extent, engaged in works Of internal i'm
proEemcnt, and in consequence oi do
! ing so, had occasion 10 borrow money
| We all know That money can be had OF
much cheaper terms on the other cont
nenl Than on this: hence. the bonds o
the stsles vent abroad aud absorbed ca
pIIsi in Europe. and so long as their ere
dit vas uuasssiled and remsined sound
this was accomplished for the most par
at very reasonable rates. During 'hi
process, and While number "t the state
had thus their state securities IN the Tor
eien market, the President Of the Unite
States, in his opening message u Con
eress al the commencement oil The la'
session, comes out with series Of III
most discouraging aud olasi di-paragIn
remarks on the credit system OF all Ih
states. He tells Congress thai the state
will repent what they have done. an
|. thai they will find il difficult to pay III
debt they have contracted: and this o
ficial language Of the Chief Magistrate
!. the Legislature goes out into tile mark
4 where these state bonds are held for sal
: Thea. comes his Secretary. Mr.. Won
!; bury, with report in the same s,rsi
, giving il as his opinion. that the s'a,
. have gone TOD Ear in This assumption
liabilities.
4 But the thing does no, stop here. NJ
!. Benton brings forward resolution IN I,
= Senate. declaring that the General G
$ vernmenl ought otto assume these del
o Of the States: ,hst Z resolution is sent
e a committee, and thai committee make
}. report upon The subject as long as yont
/, bridge Though moi. I 6siie--. .. '"o
/, travelled or a. often gone over the VIII
a object and tendency Of which, is TO D
psrsge the credit Of the states, and III
is Mr.. Grundy makes speech upon
,e What had Mr. Benton or Mr.. Grnndy
49,. II