The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-03-19


ssandard.a Now lhis eerisinly ssGads
ssry much lie 90 exclusive hard money
currency. II 10 true that The President.
IN snosher pan u his message. says. hal
!" in eounlry 90 commsrrisi ~ ours.
banks. in some form, gill probsbly al
vays EXIST" bul 10 10 evident from shat
he SAYS. 10 ihe sane connection. that Re
mesns 10 raSlude bsnks 81 elreulaiian. -
nv existing. ard il ws have hanks q
I'll. Ihey are 10 be banks sf deposits. con-
iinrd IN their opsralinns 10 llasir sPeeis
basis. OF something of that sofl. Which
would sirInslIy operate 10 oil iulsnis and
purposes. 20 sn exclusive hard money
eurreney.
Ny purpose noe 10 not 10 discuss these
extraordinary opinions and recammends-
tons Of The President. or 10 paint oul The
rninous consequences which % Total .
resolulian IN lhe monetary sysirm 0f the
country would bring with u 20 every
class OF soriely. creditors and salaried Of
6eers. ss | have before remarked. alone
excepted. This has been dane with fer
more ability Than can pretend IN. by
one Of Ihe sblrsl and mosi Distinguished
sriIers on pnlIlieal economy in our eoun
try. land yirginisn. ioo. | an proud 10
say. Win. though removed frnm all con
neciian with parry politics. has been 50
startled BY The dangerous fAllaries oi the
Presidents message. on subjects lo whieh
he has devoted the chief s,udiss of his
life. that he has lell il daily. from which
no good citizen 10 exempt. 90 aid IN ex
posing them. You will find hrs views.
sIlhnuI hrs name. howessr. whieh his
retired and unamhilinus course Of life has
doubtless caused him 90 vish 10 be with.
held from The public. bot which. il knnwn.
could not fail 10 draw general slien,ion J
in . letter recently addressed 10 repre-
sentative in Congress. and published in
The MaGis0nisn ol The 26,h and 30lh Of
last month. commend il W yonr siien.
live perusal. and | most srdenily wish
that IL could be in The hands nf every
reading and rejecting man in the eoun.
Try. ..
will MOI touch upon the iopics which
he has so ably treated; hut cannot for
bear 10 notice The exiraordinsry and IN
prrcedenied ,nne of dlc,a,ion. and denun.
citation. which the President, in the iery
zeal with which he is animated for The
propagation Of his fsvoriie schemes. has
permitted himself To assume in his message
towards the sovereign states of the Union.
He INDUCES in the mos. vehement ami.
madversions On their system of state 20
Icy. lie invokes ruthless spirit af ex.
termination against their Banking Instl-
tniions, +" by ~ho.e means" he says the
provisions Of the Constitution. auiharlz-
ingCorRrrss "io coin money and regulate
The value thersol." and prohibiting the
states i" 10 coIn money, emit bills IL ere
dr." &c.. have been practically sub
verted." lie calls upnn the states. !. from
whose Legislation" he says /. these evils
add e.pec,siIy TO enissss 'bs a s- ialissi :
BILE execution nf The laws" sea,nsi banks
~hich may have suspended specie pay
ments. or IN other ~afds rlgldlv to ex.
act forfeiture of their chartersl Alter
these inprecsIions on the state bsnk..
he arraigns the state legislatures Tor
"plunging their respective states into en-.
bsrassment and debt" telling them rai
4" our people will no, long be insensIble
TO the extent Of the bufihens entailed
upon Them" and holds up the states TO
the view af The world. for their exusva
gance aud appropriateness. IN such a man.
ner as cannot fail serinnsly to prejudice
their credit. Whatever be their resources
So vehement 10 hIs horror of the credit
system, that he seems To view with in.
slinctive aversion every thing which il
may have assisted % create. and proceeds
To !enounce ,hnse noble and most useful
state Improvements. which have caused
the recent wilderness NJ America To .'blos.
som 40 the rose" as /" splendid but in
many instances pro6tless rail roads and
canals. absorbing The fruits Of national IN
dus,ry for years to come. and securing 10
pos,eriiy no adequate relurn!" Afler ihls
onslaught on The policy Of The states. and
their institutions aud establishments, he
summons up The spirils and enkindIess The
zeal IL hg fnlIowers for the work nf de-.
moluion befnre them. by The war cries Of
" monopnly." privileged associations.
" partial legislation" aud lells them ,hs,
" The abuses which they have the pow.
er pescesbly To remedy. are such as have
elsewhere caused the etIusion of rivers
Of blood and the sacrifice OF thousands
Of the human race" but that he &" hopes
they will carry through the RETURN which
has been so well begun" submitting to
temporary sacrifices. however great, TO
ensure their permanent welfare"
Upon whs. new conception Of the
powers and duties Of a Chef Magistrate
Of the Union. The President has fell him.
self authorized thus 10 interfere ~nh The
domestic concerns of Tie states, and 10
arraign. lecture. and dictate 30 them in
regard TO matters belonging to their ex-
elusive jurisdiction. IAN interference which