The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-12-03
G0YERNOR,N nEssAGR,
n ths Hsaarasss fhe General .Fssenassv
of.rerfh CaretlRa.


of.rsrfh Carsilna.
GsafiemaE The dsrIarsions Of n
psapls against the adminislraiions 0f M
ielrTal and met ~ the state government
The deep sensslion and embiIIered feel
ings Of lie eanle0ding parties ss 10 N,
rsHse. must neressarily greatly deeper
the Interest which usually attends Ia,
meeting. and ineTesse The responsIbilns
ofyaar honagsble body.
Ilal. while we have. in the eonfiien
hape that IL will restore The country 10 Il,
farmer happy and prosperous condition,
abundant cause q reiaiee over ibis peace.
I'll revelation; YET ws should remember
int our felIaw ci,ix-ns Of tse administrs.
Raa party. with the exception, perhaps.
Of The officers and sspirsnis. although
mistaken. 40 we believe. in their views.
eaa have bui one cuRsan interest with
ourselves. and are rather entitled 10 our
sympaIhy aud coheilislion Than 20 oor
hatred aah PsEsecuiion.
TIER f1rluaes have failed in their oua
h'nl.. aud under their avn management;
and Il becomes W. as those on whom the
responsibility has deval,rd, e.lnly "a
surrey the position ne occupy. aud pre-
pare ourselves wiIh eneigy and digniiy
% meet the crisis.
A. IL 10 the part az vision u profit hy
experience. Il 10 necessary and proper 10
refer 10 the causes Of the revolution, and
psrienlArly where CONNECTED with Our
pseUliar interest. the beuer 10 enable us
~ avoid The ryIl and embrace the good.
The Bank of The UnIed States, which
gre~ out II The necessities Of the country,
aliwo periods Of great distress. land which
gould seem almost 70 give sacredness 10
is existence. anil ~hich answered every
purpose Promised by iis most sanguine
friends. ar anticipated by the public, was
doomed 10 executive hostility, because IL
would not yield pallIical obedience. \,
vas re-chsrlered BY Congress, bui vetoed
by the President. The public money
was then removed IRON lie lawful place
Df deposi,e. in the Bank NJ the United
States, % the local Banks. by the Ptesi.
dent. under the plea that !, vas unsafe.
This ground taken by the President, was
di'prOvsi BY report from committee
Of Congress. ... .r..
The Senate ofihe United States became
alarmed o. lhess indications Of violence
ssl usurps'ion, and declared The removal
Of The dsposises unconsii,uiionsl. The |
Pfesiden, appealed 10 the people. against
both The Bank and the Senaie--declaring
the Bank dangerous 10 the liberties Of the |
coun,ry--a monster Of foreign materials;
and that better currency could be given
by the locsl banks. without the danger;
and that the Senate had done him gross
injustice. The appeal was sustained.
Nothing was rseollec,ed bot his splendid
snd successful military earser. Several
Of the stale legislatures were filed by his |
pariizans. who supported his opposition
10 The bank. and instructed their Senators
70 expunge the resolution declaring his
&c, Unconstitutional for removing the
deposits, or tn resign their seats to more
unserupulbus .hands; and IL was done.
Some yielded to the sersile act. in defacing
the journals Of the Senate; aud others,
through a cherished though mistaken
attraction, sbaad"ned their posts; which
has impaired. and. Discontinued. will de.
sfoy. the most stable and valuable part
ofour constitution. and, in all probability.
The government, itself. Il
Tbs House Of Representatives could
not bu. feel tho influence Of the will Of
The people concentrated in the executive.
Ills power was tremendous enough TO
in,oxica,e the brain Of less philosophy.
cal chief. The fate Of The bank was
decided. The deposi,es we're retained
in the local banks, and recommended to
be loaned out. Banks increased rapidly.
and discounted freely. The disburse
menIs Of the government increased some
fifty per cent. or about twelve millions
oldoilars annually. Property aud labour
Of all kinds rose IN price. Public works
we're commenred. and some completed.
ofvaa magnitude; and general, prosperity !
reigned. no, only in this counlrys but in
Europe. Up to 1894. under. the opera
TONS Of the 4" bill Of denominations, the
payment of the public debt, moslly due
III. Europeans. filed that country with
money seeking Investments; great deal
Of which was taken by our states. banks.
rail roads, canals. and manufacturing
companies. and returned 10 this country
a. rate III interes, higher than had been
given by the government. Whether de-
signed or not. this command and disburse-
(msnt Of large amounts Of money, com
ple,ely, a, the time. covered The con-
sequences If tho destruction OF the Bank
"f.he United States. and gave 10 the coun-
try hollow and fac,ilious prosperity. l
Notwithstanding The great increase Of
expenditures, some forty millions OF
surplus had accumulated 10 The. vaults OF
abe local banks. Upon a. previous &C.
casion. the President had advised a dis