The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-12-16

the country, might bear the heaviest, with
ont any sensible diminution IN the amount
;,noorled. So, also, the Government may
he justified in SO discriminating, by refer.
once 10 other considerations Of domestic
/ ,olicy connected with our manufactures.
- long as the duties shall be laid with dis.
incl reference to the wants of the Trea-
4 snry. no wel..founded objection can exist
/ ,oainst them. II might be esteemed desi.
/ rable that no such augmentation of the
toxes should take place as would have the
elIec, Of annulng the land-procecds distri-
bntion act of lhe last session, which act
Is declared to be imperative the moment
the duties are increased beyond 20 per
cent, the maximum rate established by
the compromise act. Some Of the proyi.
sions of the compromises act, which will
90 into effect on the 30th day of JuGe
next. may, however, be found exceedingly
announcement in practice, under any regu.
Iaiions that Congress may adopt. refer
more particularly to that relating TO the
home valuation. A difference IN value Of
the same articles, TO some extent, viii ne
cessariIy exist at different ports but that
. is altogether Insignificant, when compar-
led with the conflicts in valuation which
are likely TO arise from the differences Of
opinion among the numerous appraisers of
merchandise. la many instances the es.
3iimates of value must be conlectural, and
ihus as many different rates Of value may
be established as there are appraisers
$rhesc differences in valuation may also
he Increased by the inclination which,
without the slightest Impulaton on their
[lonesv, msy arise on the part OF the ap.
i traisers in favor Of their respective ports
/ III entry. recommend this whole sub
ect to the consideration Of Congress, with
4 single additional remark. Certainty and
,ermanency, ~ any system Of government.
bal policy, are in all respects cminen,ly de-
vblc; but more particularly is this true
IN all that affects trade and commerce, the
operations Of which depend much moro
,n the certainty Of their returns, aud cal
uaiions which embrace distan, periods OF
imo. than on high bouniles or duties,
A4N u afC &ilbtI W IOit1tdHA iuEtuA'iNiiS'
A, your late session | invited your al.
euiion TO the condition OF the currency
nd exchanges, and urged the necessity Of
dopllns suck measures as were consistent
18th The constitutional competency of the
u Government, IN order to correct the I'M
Nouuduess oi the ONE, and as far as pract.
3ab.e the inequalities Of the other. No
ountry can be in the enjoyment Of its fuli
ncasurc Of prosperity wiihll. the pres.
|uce Of a medium Of exchange appyoxtma.
ing to uniformity Of value. What II nc.
essary as between the different nations OF
Ae earth Is also important as between the I
uda5iiatas Of different parts Of the sahc
oun.ry. With the first, The precious me.
als constitute the chief medium Of circu.
biiou aud such also would b. the case as
the last, but for inventions comparative. Z
Modern, which have furnished, IN place /
gold ard silver, paper circulation. | .
not prop'se to enter into q Comparative
nalysis Of tho merits Of the two systems.
uch belonged mole properly TO the period ,
The introduction 81 the paper system.
ic speculative philosopher might ind in Z
acemenls 10 prosecute the inquiry, but his
rsearches could only lead him TO conclude
ial the paper system had probably better
ever have been introduced, aud that soci. {
y might nave been much happier wilhou, 4
The practical statesman has vcry
ltiercnt task to perform. He has to look .
! fhtures "a tkaV arg--t, takc their, f.. q a., 4
nis them to supply Deficiencies, and %
&rluc excuses, as far as in him las. The 4
iss Of furnishing corrective Tor derange.
aea,s Of the paper medium, with Us, Is al. I
1osi nexptessibly great. The power ex- /
4Tied BY the States TO charter banking cor.
oral,ons, and which, having been carried I
great excess, has filled the country
q IN, 70 most Of the States, an lrFedeema. /
3 paper medium, Is an evil which, ia some
N ~ on other requires q corrective. The
4 lic' al which bills Of exchange are nego.
ated between different parts OF the couu
u furnish an index Of the value Of the
zeal substitute for gold and SILVER, which
= ~ many parts, so far deprecated IS not
4 bo received, except at a largo discount,
Il payment Of debts or in the purchase of
j roducc. II could earnestly 10 desired
4 mt every bauk, not possessing the means
resumption, should follow the example <
the late United States Bank Of PonnsyI. 1
iua, and 60 into liquidation, rather than, I
Z refusing to do so, 10 continue embav.
aSmcnts IN the way Of solvent institutions, /
4 hereby angmcpling he difficulties cldcnl 4
W 'he present condition Of things, Wheth. I
THIS Government, with due regard to the .
q CUTS Of the States, has any power to con.
y ram tho banks either TO resume specie .
8aymenss, or to force them into iiquida.
On, IS an inquiry which will not fail to
q aln your consideration. la view OF the 1
q Tea' advantages which arc allowed the /
4 operators, not among the least of which
4 Inc authority, contained in most Of their !
4 hartcrs, to make loans to three times the /
4 mount of their capital, thereby often de. /
7N'as three times as much interest on the I
l"e amount Of money as any Individual !
n permitted BY law to receive, 20 sufficient