The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-01-13

tanned lest either the States or the People
should examine il with too close scrutiny.
The section which authorizes the Score.
tary of the Treasury to issue, if found
necessary, five millions of stocks, is design.
ed as provisioa aeains, contingencies in
eident 10 the fluctuations Of trade. In M
agent OF Government, such as is now pro.
posed TO be created, II is proper that there
should exist every security for the malnten.
ance of its credits. Misioriunes may fall
on private institutions, in the revulsions Of
commerce and business, and they may be
compelled 10 sto9 payment but whatever
is identified with the character Of Govern.
meu. should be placed on the safest possible
foundations. As the means of the country
are most ample, lis credit high, and the
burdens OF the People light, there is wisdom
in giving 10 the Exchequer the power Of
immediate resort, 10 case Of necessity 10
the uns;ained and UNREASONABLE faith Of
the nation. There should be no hesitation,
no scruple, no lingering doubt, about the
ability of the insulation now proposed 10 be
established, 10 fulfil, with punciualiy, all
It's engagements, under any occurrences,
not OF force, 10 disturb the Governments
itself.
Such are the general views Of The i'm
portant measure which nov invites the COP.
sideration of the Legislature.
The extremes Of pubic seniimep, on the
subjects embraced in this bill, are embodied
in The system Of the Sub. Treasury on the
one hand and in Bank Of the u. States on
the other. The great problem now pro
pounded 10 practical craftsmanship IS
whether repose and reconciliation Of opIn,
ION can be attained, whether az end can b.
put 10 distressing doubts and exasperaieC
controversies, touching the policy Of the
Government, by the adoption OF an interme
, date system a system exercising no un'
granted power, establishing, 60 monopoly
bestowlug no lndefeaslble rights, attempt
ing no divorce Of the Government from The
People; but, on the other hand, converting
the most aussere, though the mos, indispen
sable and plainly constitutional duty OF the
Government, the collection OF the taxes
into tho very means Of sustaining lhe indus
try, interchanging the commodities, anC
increasing the gaius Of those by whom tax
es are paid.
This intermediate position, the par
struck cut in the Presidents Message pro
poses TO occupy. On the one hand, il
performs one grand function which the
Sub Treasury could not and did not seek
to perform.
| 1t asserts and recognises the cons,itu
tional duty of cherishing and sustaining the
commerce between the States, by all pro
per and constitutional means, and turn,
away from nothing within the limits of the
Constitution which may support genera
credit.
/! admits the impolicy and impractical
bility, without violence to the business d
life, of coercing an entire substitution o.
the precious metals for that convertible
currency which has come TO occupy theiI
place.
But, on tho other hand, il is no. cor
poTation II alarms nobody by the asser
ton of power to enter the States, Il
engross local business, or grasp at loca
gains, exempt from liability 10 local bur.
dens.
If a measure may ever be accomplished,
as the good sense, the frniernai sentiments,
and the business necessities OF the Ameri-
can people must lead them ardently to
desire, by which existing elements Of dis.
cord shall be Withdrawn from national
politics, and the country be suffered 10 en-
joy tranquility in things nearly affecting
mems daily labor and daily bread, it i.
confidently believed that it may be ma.
tured, by the wisdom OF the Legislature
out of the general provisions OF the BAL
now submitted TO IFS consideration.
w. FORWARD,
Secretary Of the Treasury.
A DILL
Ameadaiory Of The serera. Acts establishing