The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-12-24
( NUMBER Is.

add 10 hrs lts inevitable tendency 10 pro.
duce apd foster extrayagant expenditures 81
lie public money, by which necessity IS
created for new loans and new burdens ON
the People; aud, finally, if we refer 10 the
existed for proof, how seldom il is that the
system, When once adopted and implanted
10 the policy Of a couutFy, las filled 10 ey.
paud itself, uulil public credit was exhaust.
ed, ard the people we're DO longer aUIe 10
eoduts iIs increasing weight, il seems in
possible 10 resist tue conclusion, tia: 10
bcaeiils resulting from lis eareef, 10 extent
Of conquest. 90 accession Of wealth to par.
tjcGlar classes, nor any, Dor all lis con.Lil.
Cd .dgaa'oses cap couaterbaGEcG It's uIii.
taa.a sai certaio resul;s--a speadd Gov.
crnmont, aud az Impoverished People.
III p,uonaI bank was, as IS urdeDiaLic,
rspudisIed by the trainers Ct the Cousti'o.
luton as incompatible ~.th the rights Of
lbs States aud the liberties Of tie People
il, froa the beginning il has been regarded
W large portions oil our cis.zsus as coming
IL silect collision wiiu that great and vital
smcc!ment Of lie Constitution Dhich dc.
c,ares that all powers ne: conferred by that
, ias,tur.en; CD tie General G;VetuleD, arc
reserved 70 the States aud tbc Pecpe Il it
has b:cn yieS ed by them as lie first great
step in the march VI latnod,nouG coHsiruc.
ton, Which unchecked, would rcDder that
sacred Instrument Of as little value as an un.
yriI!a1 constitution, dependent, as it would
,l9ua be, for its uaanlns, en- the interested
Interpretation Of domipau! party, and al.
fordiGs % security 10 the rights Of the mi.
aority il such is uudsniahly the case, what
rc!iopaI grounds could have been conceived
for anticipating ausht but determined cp.
postcD 10 sJCh an institution al the present
day
Coud different result have been ex.
pe3:s5, Hbes th. consequences which have
flowed fIaa lis creation, and particularly
frsu its struggles 10 perpetuate lis existence.
bad confirmed, in SO striking manner, the
ippgsLsssio7s Of its earliest opponents
0bsn it had been SO clearly demonstrated
that a c7acenraied monay.powcr, welding
30 vas; capital. and ooneiu'ag such meal.
culab,e means Of Influence, may in those
peculiar cspjuncIures to which ibis Gov.
crescent is UnaYoidably exposed, provo an
eyerus'cb for the political power Of the
PesPs themselves; whan the true charac-
ter 81 It's capacity to regulate, according 10
i,s will and its interests, and the interests
Of rs faForitos, tie vaue enc production OF
The labor and property Of every man in this
extorded country, bad been SO fully and
(csrfally developed; when it was notorious
hatsll classes Of this great community had,
b? u1ssas Of the power and influence itthus
POSSESSES, been infected 10 madness with Il
:rlyis Of needless speculation; when it bad
bs.n sssn that, secure ia the support Of Tho
contioa!icn Of irarences BIZ which il vas
surrounded, il eoald violate its charter, and
sol lbs lave al 6eiilnce With impunity ; aud
when. too, /! bad become most apparent that
10 believe that such an accumulation Of
rsuoIs Geo ever be granted without the
Csgioiny Of being abused, vas to indulge
il f.tsl doiusisn
To aYeld the necessity of permanent
dse', sud its Inevitable consequences, l
have advocated, and endsayorrd TO carry
into effect, The policy Of confuing the ap.
sropristjsns for the public service 10 such
shjscis any as are clearly within the con.
s!itutions, authority Of the Federal Govern.
riaa! Of excluding from its expenses those
iuPrcvident and authorized grants Of public
nIcr.y for gorks of internal improvement,
which vera so wisely arrested by the con.
s!iIuIIouai inierposIIon Of ny predecessor,
and which, if they had not been so check.
ed, would long before this line have invov.
al tho Fsances Of the General Govern.
mani in smbtrrassments far greater than
those which ere now experienced by any
OF tss States; Of limiting all our expeu-
d.turss TO that simple, unostentatloUs. and
economical administrators Of public affairs,
which is alone consistent viih the char.
seter Of our institutions of collecting an-
nually from the customs, and the sales of
publo lands, revenue fully adequate TO
dshrsy all tho expenses thus incurred, but,
under Sc protonce whatsoever, to impose
taXes upon the people TO greater amount
Ihsn vas actually necessary TO the public
service, ccnducted upon the principles l
havs stated.
10 len Of rational bank, or a depen-
denes Upon banks Of any description for the
management Of cur 6soal ahars, recon-.
mende1 the adoption Of ths system which is
roy in successful operation. That system
affords every requisite facility for the trans.
action Of the pecuniary concerns Of the
Government; will, il is confidently su,icipa.
TED, produce in other respects many Of the
benefits Which have bees from time to time
expected from the creation Of national
bank, bu, which have never been realized
avoid the manifold evils inssparable from
such an institution diminish, to greater
extent than couid be accomplished by any
other measure Of reform, the patronage Of
the Federal Government-a wise pslIcy in
all Governments, bot more especially so in
one like ours, which works we'll emily in pro.
portion as 1t is made 10 rely for its support
upon the unbiased and unadultsrated opin.
ions Of its constituents do ayzv, forever,