The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-03-18

ssmblsd here.
have stated Thar ! am willing % sole
/ ior lssn. and fesllaK assured. a. d..
/ thai 6ss millions wsll MT b. more lhan
half sufirienI 10 meet he eekcii i0f the
present year. am will,ng 20 vote Cor Ihe
len millions contemplated BY he rrso
luton % he gentleman from Nes York.
] pssler . loan. beranse Il vii resesl
10 she eouniry ne actual eandmior 81 The
Trsssury, asd prtErr that ], should be
authnrlzrd by The same men whose mea
susss hsse forced Us 20 Ibis alternative.
fhase who have eoa'rsrled The dsbi. and
squandered the means Of carrying On
The Gosernmsnl. should take ihe respon
sibliily Of mskiag provision laf both.
Paying deb tis mt Inenrling debt. II
may BE-. and IL will be. thar The admin
isifaiion 10 sueesed The one n0w in pow-
O.. vii be compelled % provide he means
oipgyiag the debt already Incurred. and
Of mseiine The de6cil growing oui Of the
shock given 10 trade and commeree. b.
The destructive policy OF The present party
in power. And wish now. IN sdSsnee.
10 call The aileniion Of this House, aud
Of the eouniry. 70 The iaci. that any mea-
sure Of Teiiel hereafter % he fesoIied 70
By The canning administration. viii be The
inssitable result Of the policy Of The pre-
sent administration. Il the country 10 in
dehl. that debt must be paid; il there il .
deficiency in The revenue Ioi the present
year. that deficiency must be prosidel
Tor; and i. IN applying The means for
either. The country 10 pressed. let not
those be blamed sho make The provision,
bull ihose who loFced IL upon thsm. SIR.
] make these remarks. because IL 10 very
apparent, from The lone of The debate on
Tie ether side. IS well IS OF the presses in
their supper, lha. this is 10 be The basis
oi.an organized opposition against Gen.
eral tlaTtlson's administration. And nov.
charge in an,icipation--snd call upoo
gentlemen on The other side tn note whal
say-yon have squsndered the public
treasure; you have crippled The resonrces
of The country. by your war upon com.
msrce and credit; you are about TO go
out Of power, after having plunged the
Country in debt. and deprived u Of the
means Of meeting its necessary expendi
lures; and upon your heads. and your.
slone. lei the responsibility rest. And
~ providing the neans. A. we shall mere.
alter be compelled To do. TO pay for your
exnaysganre. and 10 supply The deficiency
esused by your warfare apon commerce,
let il MI be ssih. for in truth ~ rsnnol
that IRE have imposed upon the country
national debt.
4 II the interest Of The country, in a
pecuniary point OF view, IL TO be consul,.
ed. Loan must be preferable 10 Treasury
noies. Treasury notes. with four and !
half millions nov outstanding, and bear
ing an interest Of six per cent, are now
| learn. from Que half to three iourths pei
cent. below specie par. These Treasury
noics are re.issuable, let il be recollected
until the 3Isl March, Of the present year
Authorize the issue uf Ave millions more
! or ten millions. as contemplated BY n,
; amendment Of the gentleman from Vir
ginia. (Mr. Wise,) and as you thus in
crease their amount, you lessen then
value. |, may be ssid, these Treasury
notes are paid out 10 the public creditor
/ al par. and received from the public debloI
at par. But, sir, is il rigbI, with all your
professions about specie currency, and
. all your tenuncisiions Of paper, To receive
the public dues in medium less valuable
than specie. whilst, according to the
provisions nf The sub Treasury Law, you
are compelled To collect one.hsII Of the
revenue in gold and silver alter the It'll
July next! Aud 10 il right to compel the
public cred,lnr--or leave him no Other
ALTERNATIVE, which is the same thing "a
receive the amount due him in medium
less valuable than specie. alter all The
clamor we have heard abou, the IMPOSE
Itious OF banks, and the worthlesspess d
paper money! Treasury notes. like al
lo,her bills OF credit, canno. long maintsir
their nominal value, as has been proven
Iby the history of all Governments iha
have ever resorlsd to them. In fact, they
are a sort of revolutionary currency q
! best, never resor.ed to by Governments
) except when in ertremis; and when The,
. have no other mode Of supplying ihei
golfers, and Of sustaining their credit,
They remind me too strangely Of Con
nuenIsl paper money. and the assignai'
of revolutionary France. to receive my
sanction. Owing to their uncertain AM
! hhcius,ing character. as 10 the lime ant
, amount of their issues. capitalists arr
, afraid to invest in them; AMI, as a cur
; rency, they are entirely unsuitcd 10 III.
public convenience. And all the patch
work of legislation TO which yeu ma,
resort. cannot acquire for them the conf
dence and couniensnce Of The Commercial
1 community. Bui resort To loan, issu'
, your scrip, redeemable on time. with
{ fixed rate OF interest, and you create
stock in which capitalists will seek Il
{ invest their money; and this stock, s.
far from selling a. DISCOUNT will CON
8 mand a premium. understand lha, III