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

v Inch Incorporated tho hf1 Bank u Noi'H
A merica, IN 1881, made and established II
TO improre the currency, and 10 dro'd the
use OF the old State paper money, which
was based 90 faith only without any funds
TO redeem il, aud faith without works IS
dead"
For The want Of a uniform currency,
large portion Of the people OF thus Cn'on
are douby taxed, aud pay hro tarliis-one
TO Government, and one TO brokers, on the
difference of exchange between the place
where the goods are first purchased, and
where they are finally consumed.
SAFETY.
Is the public money safer IN the hande
of an indiriduai appointed byMe President
or in the custody OF good banks That is
now the question. Experience on this sub
iect IS The best teacher. Since The iounda'
uon of this Government, tmore than MY
years. the public money has been always
KEEP. 10 banks-not that our predecessors
had any par,lahty for The interest OF corpor'
atoms, but for the safety and security OF the
public money.
The States of this Union bave frequently
entrusted aud kept their pubic treasure ~
the hands of individuals, untl they sustain
ed large iosSes-and then they abandoned
that mode, and deposited their public mo
ney for more safe keeping IN banks. TX
perenced business men, when they own
and have large sum d money 10 possession,
generally deposlte i, IN banks, as pieces OF
greater safety, than 10 keep i themselves,
or en,rust II TO the keeping Of any one md
vdual. When | vas last IN the city OF
New York, | called a, the Pearl street
house, "a ho,e) which is 10 the centre OF
wealth, and the heavy business Of that EN-
poriuin there | found rich merchants from
fueru Sfute Of this coniedefscy, With large
< sums OF money, come 10 Iuy goods and mer
I chandlse tor other cities aud sections OF the
/ Union. | enqulred oil g very intelligent
merchant from my own state, Thea there :;
W bat do al! you monoyed men do with
your money, 10 keep Il safely DO you
keep il in your trunks and pockets, or CON
nit it to the keeping 81 the landlord lie
answered, No indeed, as saan as we reach
The CITY, we 70 directly 10 bank, and cepos
lie our money there. aud then check for It
as we need H." Nov, SIR, Why did not
iha, congress Of merchants assembled at
the Pearl street house, Geposltc, their own
private funds worth mllioGs) IN the posses
sion Of one individual, the host The an
swer is obvious, simply because their money
was safer IN the banks. Tho co0dlci Of
all those eagle eyed merchants, Who kuo"
so we'll how 10 make, and safely keep their
own money, 10 the best commentary and
I strongest argument that | have ever met
with sgairs. tue Sub treasury, and against
I putting all The public money IN the pocket
( of one man. Merchants have bestowed
/ much reflection aud attention upon the best
and sutsSt mode Of keeping money and
here is the concurring testimony Of prac'i
cal business meu, thai their own private
money 10 safer 10 the custody Of banks th0n
individuals. In tho city Of New orb alony
the public revenue amounts every year tC
ten or fifteen millions Of doliurs, and all t,
be collected in gold aud s,v-t when thu
scheme shall be completed. All that lnrg'
SUN is to be placed IN the keeping aud pos
session OF one man, tcalied the receiver gen
eral) lis key, solitary ard alone, cat
lock and unlock the door. The friends o
this bill say, tho money will be all KEEP
safe by taking bond and security, and swear
ing the man IN whose custody II may be de
posted. Paper and INK oaihs are all very
good IN lhelr place, Dol a very insecure udii
around ten millions Of gold eagles and sill
YER dollars, when the key aud keeping are
committed 10 one man. " No man Is per
feet, no not one" Tie late notorious col
lector Ssattwoui, At New ! ofa, gave 5oac
and security, and took The necessary oath,
and then (hasing sole possession) embe2
zed, stole, aud rua away With more thar
tcelce hundred thousand dollars Of he PEG
ple'staxes. Bonds aud oaihs may bold a mar
for hundreds, or few thousands but vhrl
yoY come to millions, Il is like attempting
TO bind an elephant with paper string =
Gentlemen haze studied human nature &c
little purpose Il they expect such hmsy
cords to bold aud secure tons Of public
treasure. You might as well turn q hun
gry horse into ten acre field Of new corn
and tel him not 10 bite The cars. Word,
are bat wiud, ard they bind not shcu YOU
stiemp, to rmale nan, and set up ldesI
perfection. A truly honest man will no,
take charge Of such weight Of RESPONSE
bility because lie wants to keep a con
science void Of offence, ard 1--we and die an
honest man White one who worshps gold
en- gods and silver hinges, will deilyh, to
serve 50 precious DEITY, and would DO very
apt to carry his idols With hun to take tho
tour Of Encope, Swattaunt like, Bot then,
and 10 tia, case, taf, tll! says, he shall be
punished, aud 50 | say. Sail, presume,
we viii All agree " caichog comes before
hanging" Swarlwout kuew bis dofalcaiion
and embezzleineut vas inmoral, Illegal,
and II bs were caugh, hc would be puotsh
ed and therefore be ran away.
The Government under which We live Is
based on the principle, that the safest u0y
to make public agent faithful 10 bi4 trust.
IS not 10 gre him IN opportunity Of playing