The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-10-20

II -
Ia danr! Daaais Wrre fKpfrssed - /,
,,ss,hsr tlis iasliiuiisn ronld e int0 %,
.-,,,,a: maay weFe dpuhlfsl - N ohssin
- s,.bse.ipiions. What did We do "
-, y lie commercial rilies. the prinri.
~ ,awns IN The enuniry. and asked gea
,Ismen II kaown skill I'D capital 10 cone
"a c1ns1ll with rs about il. They ex-
nre,,rd d0abls. bul hopes also. and pledg
y themselves 10 do the hest they could
,na ss ne community vas interested ia
!, .nd he administration Was fresh and
ropalar. lhey were earnest 10 have The
hi tried. What Was The result II was
a., u Inc Senate and rejected. Another
nm was brought in. Invested Of this the
o-e,lc difficulty; il was discussed lwo
months. aud then il Was found that i
woalI not pass Wing Senate.
Twill NOT pursue The unhappy narrative
of Inc session Of 1871. Men grew angry
.al resenlful. ] saw the storm arising,
anil en.learord. a. FAR as | could. 20 hush
IL depressed my opinion freely % the
two senators fraln Massachusetts. and ad.
,ised them 20 give men lime 10 cool-io
Ista Cancellation take place. and harmony
be restored IL possible. am bound "a
suppose nv advice was not good--it Ger
tainiy was mol followed. and the conse-
ournce. need moi lelI you.
The subject came on again Al the last
session, AMI The President sent in 10 Con-
eress The plan of an erchequer. The
measure received bni little favor. and il Is
necessary fnr me. Leaf The whole burden
Of displeasnle snnnId fall on others. 20 say
that il met my hearty. sincere. and entire
appreciation.
Gentlemen. | hope ! have NOT. during
nv public life. had an oserweening con,
iiisnce in my own judgment. or been IN
willing 10 defer 10 the better judgment Of
nv friends. But there are some subjects
10 which, | confess. | have some respec,
for my own feelings. The subject Of The
currency has been The study Of my life.
Thirty years ago. lillle before entered
the councils of Congress. the question u
the nature OF a mixed currency and the
relation OF specie in = currency became
with me matter OF consideration. And
I discovered in debate upon motion in
trOduced into. Parliament BY Mr.. vansit-
tart. during the suspension Of the Bank
Of England. and while her notes were Is
per cent. below par. il was stated that the
note was worth Just as much as lis face
purporled 10 promise; that the bank note
had not deprecated, bu, that lhe bullion
had risen. Lord Liverpool. Lord Castle.
reagh. Mr.. Roe, and other members Of
Parliament. espousel that side of the ques.
ton; and on The other side were arrsyed
the strong reasoning powers and the logic
Of Horner. and The practical good sense
Of Mr. Alexander Barring, now Lord Ash
burton. confess that the study Of these
papen made me huilionist. l conclud-
ed that paper notes would circulate safe.
" only while they continued 10 be re-.
deemed in gold aud silver q, the ronnisT,
whencs they were issuel.
The next year Congress, al IFS session.
fpand the finances Of the country in ade-
pIora5Ie condition. ! believe had read
every valuable work on the subject on ei.
Their side of The Atlantic. and had closely
observed The laws Of psper currency as
exhibited during the different epochs in
This country, from 1911 to The present
time. ! had expressed my opinions a.
various times in Congress, some Of which
had not been falsi6ed By subsequent
events; and must be permitted to enter
tain quite a. much confidence on that sub
jecI, in nv own opinion, rs in the flip.
pan. paragraph Of newspaper, OF the
hasiy ebulli,ion Of deba,er. And ! take
the responsibility Of saying, tina, the mea'
sure then submitted 70 Congress was the
best and the only measure for the adopiion
Of Congress and for trial BY the People.
l am ready TO stake my reputation, and il
is all have 10 stake. upon it; and that II
the Wing Congress will take the mes-
sure aud give il fair trial. within three
years il will be admitted by the whole
American People TO have proved the most
beneficial institution ever established, The
constitutional loan only excepted.
Understand me--iake il as IL is--as IL
came from the consideration Of the Csbi
net, not as il was after Congress had be
gun to work upon it For when they
struck out the power Of governing ex-
changes, il was not worth rush, not
worth the parchment on which the law
would have been eng'ossed. The great
desire. the urgent necessity Of this coun-
try, is currency-facility Of exchange.
You work for the people Of Alabams,
they plan, for You, and you want a com
mon medium to equalize debt and credit
with the same velocity as steam trans
ports men and machinery. You have not
got it. you can't get il but by the authorl.
iy and permission Of Government. never,
never. You want large and liberal pro-
vision for exchange, and without this
You cannot reach the goal >, which you
aim. How will you do il | need not
say by Bank of the United States, based
uDon private subscription: for that Is out