The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-01-27
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slduai expenditure.
But now what did we beholdl In tho
distressed and prostrele condition of the
whole business Of the counlfy--a condition
rendered sill more distressing from the de.
feat Of every plan Of relief--we Lad now
project started, of which he would again say
I that il was the boldest pcsh for absolute
power which the people Of this country had
4 yet witnessed and, further, which was tue
most porteuious BRIBE 10 be found in the
history Of modern times. Yes, q bribe
/ IA most open aud bateiaced that ever was
offered. In many parts Of the country the
People were sleeping on volcano their
condition was 10 the iasi degree distressing
and dangerous they were, in fact, almost
+ beggaTed and when once man was made
n beggar, very slight effort was sufficient
10 render him slave. In their necessity
they lifted Up their eyes TO lie Government
for aid. And what was il uoy proposed
tina, the Government should dc? Step for.
ward aud offer them Bank, with money
facilities far greater aud far better calcula.
ted for the casemcn; ofihciT distress and TIC
relief Of their immediate wants than any
National Bank which their lest friends had
ever devised.
Dir. NJ. said that il might be worth while
10 60 into brief comparison between
Bank Of the United States and the project
proposed in the report before the Senate.
Bank of the United States, when FIRST
started. naturally displaced large amount
Of capital il produced great money stric.
lure, aud then it went on TO bGuk on the OK.
lsllng capital IN its HANDS and IN the ce1n.
try. Bui this Excbeguer Is I'd added b,
a stroke Of the pen thirty D.lE,s TO 10 cs.i,
iia, and by dealing % exchange vas .. 4.
bIed 10 extend il 20 haDlred or o naadred
and fifty millions more for such were the
wants q the country, and so long had they
continued aud accumulated, Ihai It's bust.
ness ouli absorb The whole OF that amount.
Let the demon OF speculation once be con.
lured up lad turned loose upon its wild
schemes Of adventure, md no man could set
limits 10 its demand. TO offer TO finnish.
lng People a supply like this was, he repeat.
cd It, tho greatest bride which the history
Of modern times could show. an ambitious
/ President. with a term OF three short years
ye, TO run, having at his disposal drilled
cOrps OF Office holders, and holding Under
his control subsidized press, ruling over
Pcople whose spirit was broken by long
pressure Of want and calamity, and with tho
means Of prescuting them with on ,mmedi-
ate relief in their distress, might perpeiuaio
his power in spite ofall eiioris TO resist him.
The plan proposed to sdd 10 the business
capital Of the country sudden and vast
increase, TO he effected By mere stroke Of
the pen. The immediate effect would DO
sudden aud universal relief, comparative
Ease, and apparen, niiluence; bot as had
been ably shown By the Senator from Penn.
sylvaula, the entire history Of tho world
went 10 show that, while this was always
the first effect, tho certain tendency was TO
depreciation, aud the FINAL issue in every
case bad been general explosion.
What spectacle did the Senate exhibit
When tho parties il contained were on tho
eve OF a great contest, white the Wings
@ore in position IN which il was suppos.
ed they might dictate terms TO the Pres.
dent, aud while gentlemen 90 the other side
seemed to exhibit disposition more yield.
my to the powers that be, aud when many
held an adverse altitude towards each 9th.
er who ought to be fast friends, there camo
in this project. was presented, among
others, TO the gentleman from Pennsylva.
aio, Mr.. Buchanan,) aud what was his
course Though strongly disposed TO re.
gard any thing from tue Prcsiden, with
favorable eye, and though speaking Of him
personally in the kindest language, he still
expressed the most decided opposition 10
Tho measure. He could no, 90 for it aud
f lyl Because he held the project dan.
Z, BUS to the public liberty. And the hon.
orable Senator apprehended that, should a
second Aaron Brrr mount the Presidential
chair, an engine like this might tempt him
TO perpclOnto power in his own hand, and
might ronder him the most absolute Of III.
lers. Certainly the temptation would no
grea,-the bribc was enormous. Thirty
millions OF capital springing up as an exha.
laton, as sudden and yet as unsobs,antial
branches spread oil over the Union; pro-
duc,ye tariff; the Briarcan power of the
Post Office Department, with its eight mil.
lions Of drafts; universal system of rail-
roads and canals; and all this IN an agra.
Ran aud morconary age, il did certainly
present mass of power difficult TO resist.
and appalling TO contemplate. Then 10 all
this must be added the entire power of pa.
tronage; the ability 10 confer the distinc.
ton Of place, the more substantial profits
of Office, and all the weight Of political hon.
ors and confidence. Put it all together,
aud Mr.. N. would not trust anv mortal
nan with lis possession. lfeven The Faith.
or Of his country could return from tho
grave, and would ask for such trust, Mr..
NJ. would no, put il into his hands, unless
he had first received revelation from
heaven that he would live for ever.
tic considered i, as among the woee
signs Of the times, and fact well calcpla-
ed TO I'LL the bosom of tho patrio, with des-
nondpncy md In surn hie eve with doubt