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

tssPnhsaoaiitys me e0ndemnRd suah0fs ~
thsi sysiem of misrDle whIek has b.nk
rupisd he Treasury, and 1sll nigh d.
honoEsd The naiian. For whilsl IL, IL
isei. entails upan Ils GossTnmenI heb,
"a na'iansl debt. in essfy sense Of tie
SoEd-ysl. 20 much magic 10 there ID
name. that those 1ho have Cor years
been Fts0Tling 20 this system. have a.
uniformly dsnled lha. they haze posed
upon llie country nalinnsI deb; bui 10.
sisted. thai they were only using Tempo
rasily the credit Of me G0ssrnmeni.
Now. sir. IL is right that here should
m longer be prarnssd any deception on
shis subject. Ii Is right thai he srue
situation d The Treasury should Be made
knawn The country. u Is night thai The
authors of The financial embsrrassmenls
under which se are now snIfsrIng
should be held 20 strict ace0un,abillly.
Lea them, in the iew DAYS of poser hleh
they have Ieli. confess that the Treasury
. empty. that The eornlry is in debt. thai
funds are necessary 10 cave The honor
AMI credit Of the nsIion. and bring in .
bill authorizing loan: | wiIl vote lor il.
although II shall be with . profesfand0
sgainsl The Wsslefnl ex,ravagaace ~n1eh
hiss rendered il necessary. SIR. IL the
government u in debt, without The means
af pay ing. the people should know IL;
iheT should also know The amount Of thai
debt, under whose management il has
been incurred. and the msnner and terms
on which IL Is 10 be raid.
The issue Of Treasury notes. a. |
have before said. is only puuirg OF The
day Of settlement, and throwing IL on
lhnse who. while they have fnreiold and
protested against the present evils. will
yet be charged, when lie DAY nf reckon
inc comes, with hsrirg incurred The
debt. for The payment Of which they are
nov making prorisiOn.
lf Treasury noles be constitutional
about which. as said belore. | deem IL
unnecessary 10 express sn oplnIon-yei
do not consider this 10 be an occasion
when IL is praper 10 resort to them. IL
may be that in cssrs Of emergency which
cannot be loreseen or provided for las
ar, or sUdlen Ievulsion IN the trade
and revenue Of the countryside issue Of
Treasury notes might not only be expe
dent, but sbsolu,ely necessary; when The
interest. Tie honor. and the plighted faith
Of the country, were in danger Of beng
compromised. Sudden and unexpected
difficulties not "aly require, but justify.
exmeme end unususl remedies. Bat
such is mol The case ii the present time.
! The horrors Of war have no. suddenly
burs, upon US. g. The difficulties which be-
sci The trade and commerce Of The country.
so far from being sudden and unexpected,
have been gradual in their approach. long
seen, and long fell. Then. NOT being sud
denly called upon 10 provide against
sume unforeseen disaster, l insist upon il
that are should lske lime TO ,iew lhs
whole field Of difficulty. throw The res
ponsibilgty where il properly belongs
ard resor, 10 such means as shall be con
sislent with The obligations we owe u
ourselves. speak as member Of The
Wing party; as a member Of that party
which !ong foresaw and long forwaTnet
the country, against the measures which
have reduced US 10 this ruinuus aud 81
mos, degraded condition. ST. | do no
chouss TO be driven by this cry Of the
il" immediate wants" Of the Government
about whirh We have heard so much
TO the commission Of an act, which
no, only believe TO be inexpedlent and
uuuise al The present time, which, while
II is calculate tn relieve the guilty. from
responsibility, will throw The odium oil
their misdeeds upon those who are to
succeed them.
As TO the Indebtedness OF the Govern
ment, without the means OF making pay
ment, there is no difference Of opinion
here. That more money will be requir.
ed, than can be supplied by The sccru'
ing revenue for the present year must be
admitted on all hands. As TO The deficit
which exists, and the amount which will
be required for presen, wants and future
demands during The year. 1t is point ol
controversy. shall auemp, to show. be-
fore | conclude, iha, il is much larger
.lhan can be gathered from the obscure
and cunningly devised report OF the Sec
retary of the Treasury. The question
is, how is the requisite SUN 10 be raised!
After a grea, and onexampled victory,
the Wing party is about to come mto
power, and they find the Government
crippled in its resources, and bent down
by years Of pressure. We now have
to apply The remedy. We now have to
raise The means Of enabling The country
TO comply with its obliga,ions, TO repair
lis shal,ered defences, aud to save the ma
uonal hnnor am willing to do this
but | cannot consent that discounted
enemy shall dictate the way in which i
ia to be done. Sill less am willing Il
aid in screening that enemy from public
indignation, by assuming The responsible
IIity which should rest on him. And
we have nothing 10 hope from an obs,i
nate and perverse majority here---if ,hi