The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-11-24


ANOTHER LETFER From COS. HA1IEL
rUN. OF = CAROLINA.
Ts tks ESi~ sfIkr Gsrfiaa.
clR: A fneaa kaseziiei ny aiieaiioa -
. paragraph 10 year paper 81 de sk iask
Ii rrlatioa - nav leserse Nc. CAakssa.
trust sAsA aos Ae ebMoxious 70 ahe a.
eassssaax ssy sefy extEaEagsni-sf lar.
= mAsiag remark On the chssge of The
AepsFsna contradiction in The aPiRions l
expfFssed in nv lelier in 1887. 10 Mr.
biddle. u refsreRee ee the causes which
prodacet ths Sra knRnrial rrFnlsion.
which supervr1e& the advent &C Gen.
llrksnn's admiaixlfziion. and those %
wlieh have teierred the catastrophe. IN
M Landea communication 10 The lsrmer
geallenrs
o7isiaas. sir. do not constitute truth.
hut shey resolve round This renter Of
liFks, as IL Is struck oat BY the hand Of
kisne and experience. We must catch IL
RVS - We ean. The error | committed
In nv letter 10 Mr.. Biddle. was in regard
ing secondary a. equally concnrring with
primary causes The removal Of the de-
posiiies. with the Presidential ukase 10 the
State Baaksse loan them out freely IN the
people. 10 soarish The industry Of the
clnntry. in ether words 10 foster the spirit
Of specslskea. combined with the Veto
on the renewal Of the chartered the Bank
Of the e. -. produced multiplication Of
stzse Banks. which led TO the expansion Of
the circulation Of the country, and gave
q saischieyous potency % lis enterprise
ehd industry. lf Mr.. Calhnun's plan 70
renew the charter Of the then Bank OF The
United States fr period If twelve years.
10 enable il uader salutary restrictions 10
winI up, had bsen adopted. the late cri-
ses would have been ayerted, together
with the frighlfal catastrophe which befel
the institution itself. This statesman saw
the danger ahead, and had the wisdom 10
reeollect the policy Of making all chages
in the circulation OF country so gradual
a. not sensibly 10 affect the standard OF
salne until the community was entirely
prepared Tor the change. The disease.
however, hasun lis course. The patient
is dead. and we have had now all the be-
nett Of q POSI- morton examination, by
which the connection between the causes
Of = malady and its result may very clear
w he be established. What inquest that
great and nnfaltering coroner, Posierity,
will pronounce, think cannot be doubt.
fol.
II viii be horne in mind that my letter
to Mr.. Brddle, however vslneless, was
written in spirit liberalization, to bring
home to this gentleman The conviction
that the old Bank Of the v. States proper,
coald not be re.chartered, and al the same
time withthc humble hope that il might
induce General Jackson, under this ad.
miitcd state of things, to afford what he
had suggested was vet reluctantly linger.
ing In the resources Of his own financial
wisdom, plan Of Bank OF The United
States, which. whilst j, should be suffi-
.cienlly flexible 10 shrink To the gauge and
measure Of his constitutional scruples,
!" would nevertheless, be equal to the
waass and far exceed The expectations Of
his country"
| assure you. SIC, Il was no abiding al
tachment To bank Of the United States,
that induced me TO write the letter to Mr.
Calhoun. which addressed on the 9th Of
September 10 him, from London. have
long known that this measure was imprac.
iicable IN the shape Of Mr.. Clay's project,
not alone from the condition Of public sen.
timent IN the United States, but from the
im2nssibiliiy, when public and private
confidence were both destroyed, of rais-
ing the capital necessary for such an in
stitution. But | saw our country disho
nored abroad, and PROSTATE al home. |
desired, if possible. TO invoke one Of the
most spacious intellects Of the times In
which we lire. 10 give its power 10 this
fatal state Of things, and in the deep Gala
nifty OF his country, 10 sba,e something
of what may he infexible Of his own OPT
MONS. In other words, / desired 10 as
certain whethef By some modification oi
the Exchequer scheme, proposed by the
present administration, relief might not
be foundin bringing the credit and revenues
of the Government in aid Of the circula.
iion and exchanges Of the country. My
object had no other extent than this. Yet.
in the distempera,ufe Of the times, when
every move is referred to party impulse,
have learnt with no little astonishmeni
and sstprise. since my return to the Unit
ed Safes. that whilst my letter has been
attributed By same persons N wish to
make make Mr.. Calhoun President, by
others il has also been ascribed TO CO.
vert design in the midst Of abundant ex-
Pressions Of kindness, to strike blow in
fsvsr Of his opponent. assure YOU, !
40 more thought Of the Presidential cleo.
ton, when | wrote the letter in question,
tran | did OF how, in the present Difficult.
ties, the Emperor If China was TO eschew
opium and at the same tme protect his
Bohea or Souehsng from British spolia-
ton. have certaiRiy not had such re-
markable luck in President making. as 10
render il at all desirable that should sci
up again stock in trade in this most nm
profitable pursuit, in which hose who