The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-01-27

places received, aud that TOO wher there
was an accumulation both OF knowledge
and Of intellectual strength, seemed, 10 thus
respect, 10 justify the annclpalions of It's
suthor. Even minds like these could not
look 81 il as money measure alone, and
seemed enlirely TO disregard the deep and
dangerous tendency which lay concealed
beneath its surface.
But it Vas said that the project was to
be modified. 1t was 20 return from the
COMMITTEES 10 quite different shape
Now, if his honorable friend from New
York, (Mr. fallmadge,) who was at The
head Of that committee, aud for whom no
man entertained a HOre sincere respect, and
on whose purity aud patriotism, moderation
and sagaciIy, 40 man could more implicitly
rely, should be able 10 accomplish such a
modification Of the scheme as should strip
it oC lis more dangerous and alarming iea.
lures, Mr.. NJ. would not merely receive the
proposal with caudour, but would leap to
isadoplion. HIS heart would rejoice with
in him al toe though. that such thing
we're possible, bat he greatly feared that II
never could be accomplished. That mas
ter.mind which was supposed TO have con.
ceiyed and elaborated this production, seem
ed TO hln, by expressions scattered ~ yari
Gus parts OF 1t, to present 10 The Senate this
alternative, "ether take this or submit TO
the sub. Treasury" lfthat we're the alter
uatiye, Mr.. NJ. would not hesitate for a
moment. He would incomparably rather
adopt the sub Treasury than this uouslrous
Juggernaut, whose murderous car would
make its way over tue necks Of PROSTATE
peoPle.
Ia regard to the sub Treasury, Mr.. u.
observed that he bad first formed his opiu
ion of it while 10 private life, aud be comics
sed that it then struck bin that, considered
per Sc in the language OF the Court, 1t was
a measure whose benefits were more en
HANGED by its friends, and whose evils were
more exaggerated y lis enemies, than
truth would justify. As a measure for the
restoration OF she currency, he considered
it wholly inefficient; bul his chief objection
TO il had been OF account Of that spirit Of
solitude and isolation which SO strongly
pervaded il, and which he did 20. deem re.
spectacle, and which went to divorce the
Government. from HE community. AS
held up III that scheme, the Government re.
sembled the captain of some ship which
was overtaken IN a storm. who, instead Of
sticking to bis ship and passengers, took to
tie life boat, succeeded ia securing himself
on some rock, dasubmefged in tho sea, and
left his vessel 10 her fate, 10 be shattered
% the reefs or 20 founder in the Waves
To this feature OF the scheme, Mr.. II. had
felt the utmost aversion. The strenuous
opposition which tina, plan received from
tbs Wings was directed not SO uuch
against the plan itself, as il then stood, US
against what they apprehended it would
grow TO be; but even their utmost fears
never magnitisj II into such an oYershad-
GIVING and ail-graspiag institution as was
presented 10 this bill. True, indeed, il
was Of the same species, but it had not at
tanned any thing Ike the same sizs or
strength. Ii bid It's face modesily behind
veil, SO that lis features were but dinly
seen; but this looked GU, lmpudensIy with
the counteuance Of a hatlot--it stared the
public in the face without blush.
The certain effect Of the adoption Of this
scheme must be TO destroy the local banks
Throughout The United States, With The ex.
cepiion Of those 10 the great commercial
centres; aud there IFS effect would be so
powerful aud SO concentrated, that local
banks would become exnnci, for the plain
reason tina, they would be proftess. Mr..
NJ. did not know that he would weep many
tears orr them. Such would be- It's effect
ia the grea. commercial emporium Of New
York, and slca 1t might have been in
Charlsston-a city which might have en-.
lnyed similar distinction. had Il 20, boon
Tor the fatal malaria and the yellow fever.
lie feared, howaYet, that the climate and
the God Of Heaven had put that forever out
ofthe question.
One Of the most striking Thugs attend
ing this pfgect was, that It should have
originated in the Virginia school Of politics
a1d that liz supporters, il il had any, should
be found 10 thuquarter. Mr. VI. felta deep
Yeneralion for the ancient Dominion. No
man entertained higher respect for the
principles che inscribed upon her banner in
'95 and '99-a period il which she had re
sisted the wees Of the age. Ter politicians
opposed United States Bank, because there
was 40 warrant for it 10 the Constitution. -
Her patriots had ever been foremost IL con.
tending 10, only for public liberty, bu, pr.
vats right. And although IN the creation
of such corporation they might restrain II,
fetier II, nlanacie il, ia any manner they
pleased, but still It's inherent power appear
ed 10 their eyes SO formidable and lremen.
doBs that public liberty could not live by its
side. But here lherg sniana,ed from that
ancient Dominica a system IN which all the
baking faculties we're fully developed +; a
monster, which nigh. not merely act upon
and Influence the Government, but was ix
ed upon II as part and parcel Of the Gov
erument itself. Yes. it was a Yrglnian
Who could advocate scheme like this =
How Virginia. which had fell such dread Of
q corporation. " hose charter n could tnod,