The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-12-02
BANKS AND CURRENCY
FROM rnE Nav YORK TRIBUNE.

ia NhS AMI 1 XXX EN(
FROM The NEW YORK TRIBUNE.
Every DAY $ experience serves 10 con.
vince US more thoroughly Of the lmpregna
Bile soandness Of the good old Wing srouDd,
that without National Bank. Or something
equivalent 10 Il, tins cuuu,ry can never en
jos he blessing Of sound, adequate, and
uniform currency. We may preach The ad
vanlages Of q rIc.d!y specie currency tlll
doomsday, suppress small bills, aud al bills,
SO isr rs law can effect II, enact sub Treas
ury laws aud hang UP bank presidents 70
the lamp posts, and after all the actual cir
culaling medium Of the country viii consist
manly Of promises IN some form or other.
Banlsh all legal paper money, and We shall
have Illegal IN rs stead Of inferior cha &C
ter aud utility +; irresponsible and irredeem
able shInpasiers 10 place Of the notes OF sol
vent, specie paying banks The attempt
70 shut OUT the tide Of paper currency IS as
luir as 10 dam Niagara. Close one aven
Ne, and II rlshes 10 with rtdoubled fore, al
another, H. fact, laws to preven. or re
press The USE Of mere facility Of trade
to say taai one man shall 40, pay aud anoih
/ erreceiye atthey mutually agree upon 10
a bargain, can never answer any good pur
pose.
4 Paper money, then, is Q form of credit q
iacdiiy Of traffic, which must aud VII ,x
ist. Hostile Legislation cen vl,laie, bu, not
suppress Il. The only practical question
-, How shall We secure the best possible
currency Of paper and specie Legislation
canno, aDnrhHate paper, but It msy make
q vastly better or worse. Ard our cGnvic
ton 5 daily strengthened lha; the am Of
legislation should be to secure first, toe
certain and absolute solgency and converti
blaty q all tue paper money winch may be
issued; aud, secondly, ,hr uniformity Of
SUCH circulation Throughout the country.
IL these cGds we believe a National
Bank, o. some agency performing tho func
lions Of National Bank, Indispensable
" e could VISA that there were bGl one IN
s.iutou M tic country authorized to issue
paper moRey, and ,ha, the profits If such
eulss,oa were 70 20 INTO the Treasury OF
the GATED States The further rs man
az mens could be fenovsd from the politics,
aud the more intimately II could be assoc
cited with the substantial business uf the
country the better we should like H. Boz,
convinced that large proportion Of the
People regard @lgh prejudice, passion, and
dislike, any National Institution -uuiIstly
salling n Uttl the abcses not merely Of
It's managers, but even Of IT'S enemies While
another portion are weary and heart 5icben
Of the turmoil, the disappointment, the
fruuless strife, and the unjust 5hoqa, to
waich the advocates Of National Bauk
have been subjected, We are opposed to any
ne agitation d the SUBJECT. Let Us ,,sb
m!t With a grace to tina. slate Of things
%hlch Unforeseen casualties, rather than
any far expression Of The popular vii, has
brought Upon US. let NaJoual Bank
rest Until the necessities Of the People shall
call for It without distinction Of party
uuill the mists Of party prejudice shall
Or dspeed By the clear light Of ex
perence and truth. ncauine, let Us
offer no opposition to President TYLER's
90 fisca!ry," but give It trial, with the un
den'anding that Wing Congress can 70
peal Il at the mex! session, should It prove
Injurious to The public welfare.
Bur while We counsel submission to what
aPPe rs inevitable, we ask the People uni
s@fsaIlv 10 ressiZe and acknowledge that a
carreacyof dlak piper, ,sifhoui any nation.
Al regulation Or centred dgencg, as not
WIG csrrcncg, aud that the v hlg party IS
"a no ayse respons BE therefor. lie vas not
a VIM President Who proposed, IN destroy
lng National Bank, 10 furnish the Peope
a g better currency by means Of the State
banks alone. lie VAS no, Wing President
who declared tie State banks Gloue flIly
adequate TO al the wants o, the Govern
nenl and nation. The whole train Of events
yhlch has brought the couairy to lie pre-
vent fiscal condition has been produced IN
Of the Wings. We have resisted,
rgued, enireated, predicting roltcnness,
bankruptcy, anc 81 'rreteenabIe currency,
IS the innviable fruits Of the Executive
Of the last ten years. tnheediug
'ur circumstances, dead 10 our arguments,
he car Of Juggernaut has rolled on. Sure
Y De are not responsible for what 1t crush.
IS beneath lis relentless wheels
II, therefore, the currency shall grow
verse instead Of be'ter--if resumption 10
NE State shall BE- closely followed ~ sus
ension m ano'!ler--G bank explosions and
ascdIi'ies shall become The order of The I
sy-if there is eventually o general dis. |