The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-06-16

funds alone, not asking ne pcopie -
n all. Pressing Mr.. Henry 20 know
whal lie Was now IN favor d. he Prncur-
"a from hisn he aro~al, that though ne
had ssiaed wisdom b. experience, and
was moi in favor o. the eve million loan,
vet he was still in favor Of. and would
stand or lall BY. ihe Recommendations o.
the Raleigh Convention Of dec. 1855.
The priae.pai Recommendation OF tlhai
body. which he thus adhes 70, Was hat
he STATE should borrow three millions o.
dollars 10 invest in works Of Internal Inn
prosemenL. Al a moment Of greater let
sure. we propose 70 look into this matter
and lei our readers see what magnificent
system Of :. gambling debts Dir. Henry
i now in favor of. after all has dsnnnei-
atoms OF Wing madness on lhe subject.
Mr.. Henry in turn demanded 10 know
Of the Governor. whether he was not an
debled 10 the Banks. as had been charged
and act denied; arguing that Il he was,
his judgment in regard 70 hose insliin-
lions might be BIASED by his interest
The GoVernor's reply carried eonslerna-
ZION 10 his calechisi and the party. He
did nef ore any hank one dollar, 50 lar
as he knss. lie was not borrower
from them. His only dealings with them,
were 10 sell them his bills VI exchange
when he had such in The course Of his
business. II was possible that one such
draft, accepted BY him, had been discon-
iinned by some bank, but if Il was. u was
not done Cor his accommodation. bul Tor
that Of ihe holder of The draft.
He asked Mr.. Henry, since he had an
swered this question, 10 inform him, how
ne had invested the wealth Of which he
was the repuled possoSsor. Mr. II. re-
piled, that he had some real estate. some
negroes, some ~ or $4,000 Of Ohio
State Stocks, some Louisiana Bank Stock,
some Raleigh and -Gssion Rail Road
Bonds. guaranteed by The State, some
Cape Fear and Bank Of the State Stock,
but the chief part al his means was loan
ed out OH bonds in the counties OF Frank
lin, Warren. Cumberland, Sampson, DC.
&c. The Governor ihereupon closed the
discussion With most eloquent descrip-
lion of the effects Of breaking down The
Banks and resoriing 10 hard money cur
rency, which seemed to be the result aim
ed al by Mr.. Henry and his party. They
have created the Banks, and the people
had gone in debt Cor property purchased
at high prices. Strike down the Banks.
and The creditors would swallow up all
the means ofihe debtors. Adebtor would
have 10 give 100 days labor TO pay for q
COW lhat he could have paid for In 10
days when he bought her. 100 bushels
Of wheat would realize the farmer no
more hard money than 10 bushels under
the paper money system. IL behooyed
the debtor portion Of the community to
look well 10 these matters. They would
be al the mercy of the money lenders,
such men as Mr.. Henry. For his own
part, all that he had land he had made il
all By the strong arm, the stout heart, and
what little intellect Providence had bless
ed him wilh) was invested in the indus
tIial pursuits within the good old State oil
North Carolina. He neither sent il out
of the State for investment, nor loaned il
on interest. He had invested tin man.
ufacturing, mechanical. and farming ope.
rations, by which he afforded employ
ment 10 many Of his poor neighbors,
mechanics, dc. .-=
This is hasty, very imperfect out
line, from memory. of The sayings OF this
most interesting day. II is written be-
tween midnight and morning, under feel.
ings of the strongest citation, it is true, al
the triumph Of our cause and its able adj
vocate; but as far as it goes, we have en-
deavored to make il fair. We only regret
that we haye-not tiIe TO make il more
full. In our next we will notice the Tar
iff portion of the debate, &c.
Gov. Morehead left here this morning
under the escort Of II patriotic committed
of the Wings Of gallant little Moore, who
came here TO accompany him to Carthage
wheEe he will speak tomorrow.