The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-10-29

ket, the President Of the United States, in
his opening message to Congress at the
commencement of the last Session, comes
out with a series of the most dseouraging
and mos, disparasing remarks on the credl,
of all the States. He tells Congress that
the States will repen. what they have done,
and that they will find il difficult TO pay the
debt they have contracted and this official
language of the Chief Magistrate to the
Legislature goes out into the very market
where these state bonds are held for sale
Then comes his Secretary, Mr.. " oodbury,
with a report 10 the same tram, giving II
as his opinion, tha, the States have gone too
far in this assumption of liabilities. But
the thing does not stop here. Mr.. Benton
brings forward resolution 10 the Senate,
declaring that the General Government
ought mot TO assume these debts OF the States ::
that resolution is sent TO a committee, and
that committee make report upon the sub
jsc, as long as yondrr bridge though not,
believe, as much travelled or as often gone
oyer,) the whole object and tendency OF
which, Is TO disparage the credit OF the
States, aud then Mr. Grundy makes speech
upon il. What had MIR. Benton or Mr..
Grundy to DO with the matter! Were they
called on 10 guaranty the debts of Virginia
or of Maryland Laughter Yet, the
effect very naturally and inevitably was, to
deptess The value of State securities 10 the
Foreign market. vas in Europe al the
time. My own State had her bonds in that
market: and what did sec The most
miserable, pltiiul, execrable lucubrations
taken from the POslic press IN New York,
endeaSoTlng TO prove that the States had not
sovereignty enough 10 contract debls.-
These wretched productions declared that
the bonds issued by The States OF thus Uu;ou
we're all void that they were 20 better than
waste paper and exhorted European cap!
iallsts, not 10 touch one of them. These
articles, coming as they did, from this side
the water, we're all seized on with avidliy
and put toto circulation 10 the leading luurn
ais all over Europe "a, the same time, the
Administration press 10 tins country, unrs.
buked by the Government, put forth argu.
ments going to show that Virginia has no
authority to contract debt IN the name and
on the credit OF the commonw eaIlh-ihst
Massachusetts IS so completely shorn Of eve.
~ particle Of sovereignty whatever, tina,
she can issue DO public security of any kind
on which 10 borrow money And this the
doctrlne OF Stats Rights We'll, gentlemen.
| was called on TO meet his question, and
told those who put 10 me the enquiry, tina,
The States Of The American MON were, IN
bus respect, lust as sovereign as nny OF their
States 10 Europe. held correspondence
on the subject, which was published at large
aud for lhas-yes, for defending State Rights
before tho face Of ell Europe, | have been
denounced as one who wants the General
Gov eminent 10 assume the debts OF the
Sta,es--as one who has conspired to buy up
British Wings With foreign gold Loud
laughter and cheering All thus, however,
has not rufilsd my temper have seen II
all ~lth composute. But confess there IS
oue thing which has disturbed the serenity
Of my mind. It IS what appears to be
studied attempt, on the part Of this whole
Administration, including its head, to fix
spot upon the good name Of the early found
ers Of our Constitution. Read he letter Of
The President to some Of his friends in Ken
tucky--to what he calls I" the entire Demo
crazy Of Kentucky q should like much
to know what constitutes the Democracy OF
a State. These good friends OF The Presl
dent write to hIm that the entire Democra.
cy Of tina; State IS With him, aud be writes
back how happy be IS to hear that such IS
the fact. The State comes to the vote, and
two thirds Of the People of the State are
found 10 be agans, hlm-yet still he clasps
to has breast, with eXultaioo. tho centre
Democracy Of Kentucky ~ (Greal laugh
Ter and cheenng.) And SO IL will be
month hence. Gen. Harrison will have
been elected by simultaneous rush Of the
free voters Of the whole Union-yet Mr..
Van Buren, vii skill continue to clasp to bis
embraces the entire Democracy Of the
country, Be this as II NAV, he does, IN
that letter, ascrlbe to President Washington,
10 1891, aud to Mr.. Madison, IN 1916, cor
rupt motives for Their public conduct.
NAV forgive this, but | shall uoi forget it.
| ask you to read that letter, and one other
written on the occasion and then, fit comes
in your way, | ask you to peruse an Address
put forth By the Administration members
Of the New York Legislature. What do
you think they say You, coUnlrymen Of
Jefferson aud of Madison, Of Henry, Of
Wyihe, Of the Lees, aud host Of kindred
spirits Of the same order-you, who inherit
the soil and the principles Of those men who
shed their blood for our national lndepen.
deace--a ha, do you think they say of your
fathers and Ct ny fathers Why, tina, ~
all their Efforts and sacrifices 10 that great
struggle, they meant, not Independence
not civil liberty the establishment Of
Republican Government-but merely 10
transfer tho Throne frum England to AmeTi.
ca, and to be themselves PEGS and Nohles
around It Does It not disturb the blood
Of NTglulsns TO hear language like this -
'Cnes Of yes, yes !" mingled with cheer
ng.) do say tina, ibis attempt to scorch
The fair, uusullied reputation Of our ances.
no, uo-they cannot scorch IL: