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

Sul UT CONSTITUTIONAL, upon Executive A.
gents. The true principle is, that the
people should. never part with any more
power than just enough for saluiary and
efficient administration oftheir affairs. In
the construction of great systems, we are
not privileged to rely upon the honesty and
patriotism Of existing rulers. We must
look to the future, and provide for the
contingency Of wicked and ambitious nj.
lers. The former require neither curb
nor spur in the discharge of their duties
the latter can with difficulty be restrained
by all the safe guards which patriotic jeal-
ousy and wisdom may devise.
The increase Of Federal Oflice.holders
Is another, and by no means u trivial objcc-
tlon TO the proposed scheme. In every
State there will be fresh swarm 10 con.
sumo the remaining substance of the peo-
pie. 30 the adoption of this scheme thus
iraught with, or at least powerful for mis-.
chief, we prefer greatly the weak and de-
tectiye system Of State Banks--regulated
by law.
From tide Independent Dec. o.
THE FiscALPLAN-Tae Cat Oat oftAs Jag.
The fiscal plan, looked for with so
much interest Throughout, the country, and
a bill embodying lis suggestions, were
Transmitted to Congress from the Treas
.ury Department on Tuesday evening, and
appear a, length in cur columns this NOR
mag.
We have read both plan and bill with
The most anxious attention, and a resolution
10 be scrnpulously impartial in forming nh
opinion on subject OF such momcnlous
Consequence more DESTROYS to see the
country relieved than the Administration
embarrassed; and willing TO unite in CIV.
ing praise to those who might effect 50
great public good, even though they
should DO regarded as opponents.
THE CURRENCY.
10 this spirit We. submit few thoughts
which occur tdas from the peuisai Of SIR.
Forwards plan, 10 which too much proisc
cannot be awarded, for the simplicity cnd
directDess ofits style, and the deep consid.
Grafton with which every portion Of i, was
evidently pondered.
The plan Of the Secretary IS pro(essedly
u medium between the uh.Treasury and
Bank Of the United States, and is offered
rs compromise to the friends of BOTH
Il challenges the merit OF uniting the OK.
cclencies, aud avoiding the defects OF each.
Mr. Forward considers that in the method
Of collecting, keeping and discussing the
public revenue, 1t possesses all the adyan-
tages claimed for the Sub.Treasury, while,
10 the limited power to purchase bills of
exchange, and in the sdpply Of excheqner
notes, /. will take the place Of the Bank,
and furnish n currency Of equal value 10
every State and neIgh5orAood Of the T..
nior.
dow far WINS sangniae hopes are well
it u more competent TO the mcr-
camille community thaa 10 Us to Judge
But we believe, ii all is accomplished b.
the scheme that the Secretary hopes from
il, very little wi, ne been effected ..
wards the relief II the country. The Go.
gernineul may secure rs dues I'd good
and protect itself against tho
Iraads and losses 10 which il was liable
under the old system; but che People Will
lind as great difficulty as ever from The
arrangement 3G the currency and the pros.
irnlion Of confidence. Exchequgr notes
may prove sound currency, as far as
they 60, bat obviously that viii be but a
little way. They will be confined but to
few hands-snd those not the bands Of the
farmer, mechanic aud Iaborcr. They will
aid the wealthy merchants of the gteal
cities, By securing them against loss IN the
transmission OF their funds between distan,
points but the great mass Of Society will
reap none Of the benefit. They will never
see these excheqner notes, save when one
may be handed about as n curiosity
They must continue exposed still 10 the ca.
Iamitles they now endure from nonspecie
paying Banks aud rotten currency. The
whole effect will be, that they who are
best able to bear loss, viii BIO protected
against it, IN eifectiug their exchanges,
while tts millions, remote from the agen-
cies, and unable TO reach them, must suf-
fer as they are suffering. The scheme,
perhaps, has no tendency to make the poor
poorer, but il appears TO us an admirable
contiiyaucc for making the rich richer.
This nigh, be cheeriulIy submitted to,
( any resulting good was likely TO accrue
to the general community, from the ex-
rbequcr notes finally coming into common
But is 1t not plain that they
never eau come into general circulation,
ard that the scarcer and more valuable
they are, tho more certainly will they be
boarded and reserved exclusively for the
use of the great dealers Of the great eitesl
A benefit to A is no injury to b, unless 1t
be conferred at the expense OF the latter;
bu, bonuses to classes, unparicipated in
By the general people, or, what is the same
Thing, which they are not in position to
share, are abhorron, to Republlcanism.-
Ii is monopoly in effect, il not in design.
The Secretary lays down the extraor-
binary position, that the exchequer circu-
Iatiou, so far as it goes, will correct the
n \ I. 4 t..ln IL