The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-11-24
GEN. HAMILTON AGAIN.
From the Sapannah GeOrgioa.

| Sir: A friend has called ny attention to
a paragraph IN your paper oil the 9Th Inst.
10 relation TO NY letter TO MIR. Calhoun.
trust shall not be obnoxious TO the accuse.
ton of any very extravaganza self love, IN
making remark on the charge Of the APP /
parent contradiction in the opinions ex.
pressed in my letter in 1887, TO MIR. Biddle,
| IN reference TO the causes which produced
the first financial revulslon, which super |
yened the advent OF Gen. Jackson's admin |
| lsiratlon, aud those TO which have refer
red the catastrophe, III my London coul'
municatios 10 the former gentleman.
Opinions, Sir, do mol constitute truth, but
they revove round this Centre OF light, as
II is struck out by the hand OF time aud ex
uerlence. We must catch IT'S rays as We
can. The error committed in my letter
20 Mr.. B,ddle, was in regarding secondary,
as equally concurr,ns with primary causes.
The removal Of the depustes, with the
Presidential Ukase to the State Banks 10
loan them out freely TO the people, TO nour'sh
the industry Of the country, 10 other words
to foster the spirit OF speculation, Combined
with the Veto on the renewal OF the char
. ter of the Bank OF The United States, pro
duced multiplication OF State Banks, which
L led TO the expansion OF the circulation oil
the country, and gave q nischIevous poien.
CIV 10 It's enterprise and industry. Ii Mr.
/. CaIhoun's plan to renew the charter OF the
" then Bank Of the United States for period
Of twelve years, 10 enable il under sal1ia
y ~ restrictions to wind up, bad been adopt.
: ed, the late crisis would have been avefied,
together with the rightiulcatastrcphe which
d befel the institution itself. This statesman
D. saw the danger ahead, aud had the wisdom
II to recoIlect the policy Of making all changes
e IN the circulation OF a country so gradual
as not senslby to affect the standard OF
IS value until the community was entirely
u prepared for the change. The disease
10 however, has run lis course. The pa!lenI
e is dead, aud We have now all the benetit o.
e a post morton examination, by which the
II connexion between the causes Of nalady
"a and lis result may very clearly be establish
q ed. What inques. tha, sres. and untaiter
Al ng coroner, Posieriiy, will pronounce,
think canno, be doubtful.
p It viii be borne IN mind iha, my letter
'e 10 Mr.. Blddle, however vaiucless, was
10 written IN the spirit OF cancellation, Ia bring
It. hone TO this genilenan the conviction thai
the old Bank Of The United Suites proper
g. could not be re chartered and a, the samt
ie time with the humble hope that /, NIGH
~ induce Gen. Jackson, under this admitted
70 state Of things, to afford what he had sug
vi ges,ed vas yet reluctantly lingering in ,bt
resources Of his own financial wisdom, plsr
ns of Bank of The Unted States, which, Wills
al il SHOULD be sufficiently flexible 10 shrink ,C
- Of his country.
assure you, Sir, i, was no abiding attach
q meut 10 Bank of the United States, rha
81 induced me 10 write The letter to Mr.. Cal
y boon, which addressed on the 9th of Sep
nc tember TO him, from London. have lon,
= known that this measure was imprac,icabl,
:" IN the shape OF Mr.. Clay's project not slon,
: from the condition of public sentiment II
ne the United States, but from the impossible,
~ ,y, when public and private confidence ~er,
: both destroyed, of roising the capital ne
w cessary for such an institution. But | saw
our country dIshOnored abroad, and eros
'e trale al home. | desired, If possible, to IN
" woke one OF The most spacious nteilecis O
vs. The times in which we live. 10 give lie pow
'e er TO this fetal state Of things, and in ,ht
70 deep calamity of his country, 10 ahate some
~ hing Of what may be rfexible of his Owl
orioons. In other words, desired to as
- certain whether By some modification Of yhe
bScheqper scheme, proposed by the pres
ent administration, relief might not b.
. found IN bringing the credit and revenue,
: OF the Government in aid of the clrculaiior
81 aud exchanges of the country Nv osi~ct
had no other extent than This. Yet, in the
; disieGnpeTsture Of the tImes, when every
move rs referred to party impulse, | have
learnt With no Htt!e asicnishmen and sur
PRISE, since ny return to the United States
that whist my letter has been attributed by
some PERSONS TO wish 10 make Mr.. Gel
houn President, by others il has also been
. sscrbed TO covert design in the mrds. Of
: lburdbnl expressions Of kindness, TO strike
P a blow IN favor Of his opponent. assure
T you, 10 more thought of the Presidential
election, when | wrote the letter 10 qucs
$ lion, than did Of how. IN the prescot diff
cutles, the Emperor Of China vas to escbew
= opium and al the same lime protect his Bo
hea or Sonchong from British spoiiaiion. -
have certainly not had such remarkable
{ luck IN President making. as 10 render i, al
: all desirable that | should sci Up again
stock IN trade IN this mos, Improbable pur
: suH, 10 which those aho play the game
{ have very often The only benef. Of paying
is charges.
No! knew that Mr. Calhoun had the
: ln'od to 2rappe with this subject. For the
0 last FIVE Years | have come IN contact with
:. the first public men in most Of the Govern
menis Of Europe Of every language and
calbre Of intellect. have no where me,
with hIs superior. ln the depth brlIiaocy
e and qulckness Of his extraordinary powers
10 the uabounded opuIence Of his RESOURCES,
or 10 the purity Of liz. which places him