The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-06-11

Pray, siF, What ss,i q sEiisFmiiy i
6hisf A unlfaFmily Uhieh eansiEn u
che authorized maliplieslion q varieties
Who vii URdeFisks 70 dslsad lsgisla
6isa Of Ehis kiad. uBdeE our poser d
esIsblish unifaEm lass o. The suHss
af Bankruptcies throughout die Unsss'
Saiesi Not aaly is u IN deferi siols
lioa Of he plain le1i Of he consiilu
sion. bss Il les in Ihe very evils. esr
~ one Of lasm, Which he constitution
a provision intended % shut aui. Thu
Ganslilsliaa says thai Congress NAY
esfsblisb uniform lass; The genileman's
oil says lhsi Congress may propose >
iaw. 81 least 50 far IS corporations are
concerned. bar thai slill each slate may
take What IL likes, and reject the rest;
and lhis. he sonienGs. 10 establishing >
uniform lav.
l pray. cir. where 10 the power Of
exemption 10 slapi u We may a1sho-
Tize states 10 exempt their c0rpossilons,
m.y ne not. wilh equal pr0priels. 40.
ghoriIe them 10 exempt oil their cilizensl
May Hs not say Ihsl each stale may
decide i0r itself shslher i, viii have any
thing % do wiih The las, when we have
passed II. or aha. paris il will adopt. and
shal paris il will refuse 10 adnpli
But. sir. | must waii ill some a.
tempt 10 made 10 defend this part OF The
geadensn's bill. musl see some show
~ proprieiy. some plausibilily. before |
reason against il further. In The view
! - present have Of il. II appears 10
me utterly repugnsni 10 The plain re-
aHiremenls Of The Consii.a,ion. destitute
POI only Of ell argamsn, Tor lis support.
bu, of 81 apology also. | see nothing
10 il but naked uneons,iiuiionaliiy.
But. Mr.. President. II these provisions
we're constitutional. they would still be
ia The highest deg,re unjust. and inexpe-
dieni. aud inadmissible. What 10 the
object Of bringing the banks into the
bill al all Certainly there can be no
Just object. other Than 10 ensure the
CONSTANT and puncllsl discharge OF their
duties. By alwsys paying their notes on
presentment. Clearly there can be No
object bu, 10 prevent their suspension Of
payment And il might be said that this
object vas kept in view, IL The Law were
uniform, peremplory, inaexihle, aud ap-
plying 20 all banks. Bu. when you
give the power Of exemption 10 ihe
fiales, you sanction the very evil which
you propose TO remedy. You profess
iopreseribe q general rule, aud yet au-
lhorize and Justify its violation. Do not
The states now exempt. and 10 not that
che very evil from which we suffer- 10
not suspension, under The sulhoriiy Of
State exemption. the topic. The discus
sien Of which every day nearly siuns US
81 lls -sfherasion Ifem lie Esllsef this
cfs0es Tie sassten 81 he banks
aFs = seas,sl, xsa saaugh. they re-
cure pnnrsaal specie payments, andes
ssssfe penal.its. and. in some cases, un
der The penalty Of forfeiture. Bul IN
der the pressure Of circumstances. and
from real %. s.rrAAai1 necessiag. the
lisies relieve the banks from these PEN
sl,ies; and forbesr 10 enforce The foriei-
pfes. And viii they mol. mosl assured
y. also relieve The banks iR The same !,
laRner, and for The same reasons. IL |
hey have The power. from she penal-
les OF. our bankrup, Laws! State per
bission. slals indulgence, stale exenp-
ion. 10 The very ground on which sus.
tension nov stands. and On which il is
Justified. And j, 10 now proposed that
congress shall give lie authority and
aaelioa 10 I'll this. II is proposed that
congress shall so.emnly recognize The
'rlaciple, and approve and sanction the
,rselice Of stale exemption Of the SUE
pension Of specie payments. BY state az
horIly. II the states will MOI enforce
heir own Jaws against abe banks. Gao !
my one imagine that they VIII see ths
equally or still more severe penalties 81 ,
bur bsnkrupt Law enforced. while. they
have The power TO prevent III f
Some weeks ago the honorable men,
,er from Pennsylssnis moved lor com
nit,ee to inquire into the propriety sf
amending the Constitution, 50 as TO in
Isrl q provision giving Congress power
% rn.tsin the olrGulsIiun OF small bank
notes. did not concur in his measure,
not thinking the Constitution needed a.
pendanent in that respect. but his arga
pen. was quiie ineligible. He said ihis
lhDlI.ion gi small bills could no, now be
lone, because The states could not be
trough, 10 act in concsni rel they might
III lie brough, 10 consent thai Congress
hould establish uniform rule upon the
Inbject, That vas fair rassaning towards
J proper object Il gent for uniformity I
IN point of gres. commercial import.
'nce. Blu. how il IL here !! We do mol
sere propose uniformity, we do moi re-
IniFe sha, one rule may extend over all.
Far otherwise. for we propose 10 su,ho.
Ize difference. dissonance, and coniu.
lion. Having the power 10 establish
we delegate an authority TO
'reaie varlsiy. Charged by The Constr
liioq ~ establish one rule, we ourselves,
instead Of performing that duty. call up
IN others 10 establish different and vary