The North-Carolinian., 1842-06-25

own admission--Too many irons in the fire.
In the great debate between Mr. Henry and Gov.
Morchead, on the 7th inst, MIR Henry asked Gov.
NJ ii he not indebted to the banks? After some
writhing and twisting to avoid direct answer, he at
last admitted that he had been ii, the habit Of sellim
drafts Bills Of Exchange, and that the Banks might
hold Of his drafts. MIR Henry also asked him
to state, what amount of capital he had invested in
cotton factories, IN stores, and gold mines. sc. He
admitted that he had capital invested in cotton and
other manufactures, stores, and gold mines; but al
though prepared for definite answer would not
state the amount nor the rarcus kinds Of naannfac-
tories.
rhe fact is, that Gov MaEssasH7a. 7.t cvs his
fang srons 81 TIE fire, that unless he get D :.
s, Bank and high Tariff, he is aprrehcnsivs1,h ,hat
his various specuaiions, in manufactures, stores
>nd gold mines, may prove losingehsiness. Re-
:lNmber that Gov Nor, head was a Jack son Elector
in 1928 and 1892, and at both periods voted for
Jackson for President In 1928 he voted for Jack
son and Calhoun for President and Vice President:
lin 1882, for Jackson and Van Buren for Pres-
dent and Vice President. All these open
y opposed to U. S. Bank, and to protective Ta
riff and it is veH knc,cn that Coo. Noreheadeussd to
etectioneer against Z. S. BanI: and Tariff
Since that time the Governor has become large
advcnurcr in Stores manufactures of various kinds,
gold mines, and other speculations, requiring hrge
moncyed operations to carry them on, and especial
iy at this time, making the aid Of Banks to discount
bills of exchange and furnish other facilities, >rery
convenient to him. Money is hard to be made or
collected at this time, and the outays for hands and
| raw materials must be large and make it therefore
very convenient for him to borrow money from his
rich Cousin Jesse Harper, and sell his bills the
Banks; aoho, by the acay accommodate only bigfnen
in hard times. So now, we find the Governo1has
become violent Bank and Tariff man, ipst kshc
time that it happens to suit his interest. He WAS
the advocate of the farmers and mechanics in 1928
| and 1882 and denounced the Bank and the thrift,
as grinding oppression upon both; now thatEit is
his interest to borrow of Banks to carry on hose
large speculationz and to tax the farmers and me-
chanics to make his manufactures profa abIe,
| we find he has made his politics and his inherit to
| chime IN with a Bank and Tariff.
| We have always understood, that the most dan
gerous form OF borrowing from Banks is by Bis of
| Exchange. The Banks will discount Bills ihen
| they will not discount Notes, and thus the ter pta
ton is presented in critical periods of discoutin e
,cind bills and horse bills. If the Bill isyaid,
th-~Bank gets Northern funds, equal to Spe,le;h
protested, the debtor has pay the and a-
ages. -. g
1t is in this way, that so many failures have * ken
place; and although do not pretend to int nate
that Gov. Morehead in any danger Of failirtp or
that he is not in fact rich man, yet ace do say ely
and artessy, that the very business he is now
| ry,ng on-playing the part of merchant, man dhc
turcr, gold miner, selling Bills of Exchange ind
eec,ioneering too, incllncs him to favor Bank snd
a high Tariff, which is opposed to the intere4 of
lxl-. H..
the former is too strong, to make him akful
tiend to the latter In fine, he has too mann sas
| in the fire; some will, yea, must burn.
He is now, whilst he is receiving from the poplc
a salary Of 900, attend to their business asR
eigh, neglectng it, and out electoneering forlis
own interest-the Banks and his factories,i 4 a
Tariff.