The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-03-09
From the Raleigh Register.
THE RELIEF BILLS.

uuced The numerous Diils Tor the reliei oil
the People, brought (orwatd BY them a; the /
recent Session; which bills they allege we're,
in some way or other, (ihough hotr, they |
take care not 70 point QUIZ defeated by the !
Wings We shall altemp, to give as con
else a sketch Of these numerous Reiei
bills" as the couillc;ing ideas, Of our mud (
ern Solons will permit, and, viii, willingly, +
leave il to the People themselves, TO say,
by which party they we're defeated.
Early, in December, Mr. Shepard, the
Loco Foco Senator from Wake, submitted
has plan, which, our readers may recolleci,
was that the Governor, Treasurer and
COMPTROLLER should issue one Million OF
Dollars upon the faith OF The State, 10 Bills
from 500 500, bearing an interest OF -
per cent. winch sum was TO be loaned on;
TO individuals al per cent. upon pledge
OF Real Estate, or undoubed personal secu-
rity, TO double the amount borrowed, renew
able every twelve months upon payment OF
one fifth Of the principal and interest three
salaried Commissioners OF Loans, to be ap
pointed by the Governor aud Council tor
each County, and The expenses OF the
scheme TO be paid, with the difference OF
interest between that which the Bills bear,
and that which the borrower pays, VIZ 50
per cent. The bills TO be receivable 10
paymen, OF Public Taxes and Bank Diw.
bends, and the proposed amour, TO be dlsi
ded amongst The several Counties accord.
ing to their Federal population. And now
for the manner ~ Which this Loco foco
bantling, after being sen, into this naughty
world BY It's young but aspiring Parent, aas
received by his assembled party. Mr..
Edwards, the Senator from Warren, whose
political principles are known we presume
10 every reading man IN the State, Imine-
diately, upon It's being ushered forth, rose
and declared 1t Observation-Disclosures II so,
without siralnlpg au inference, we suppose
illegdl-thus placing lis father IN most
unpleasant dilemma. 4 Wing saved lis
immediate death, b. wrapping |, Up 10 print {;
thus procrastlnaung its existence uuili II
should have reached the more mature age
of four DAYS.
Al length, the fifth day appeared, when,
as The Senator from Warren had not soc.
ceeded in s,ranglinr the mous;rosliy 4. It's
birth, the Hon. Bedford Brown stepped
forth, ready prepared With a wet blanket TO
try the effect of cold upon our Senator ;
founding. Alter drnouncins il in terms oil
the most bitter invecilve, he mounted nfs
favon,e hobby State Banks" which hav
log branded and stianatlzed to his hearts
coDtent, pronoUncing them corrupt anc
rotten TO the very CORE he offered his pa
nqcea for relief. VIZ: that these same vilt
Institutions should promptly and largely ex
pand their discounts And what new fan
eled moral doctrine Of the Seo4ior from
Cassell IS this Abuse your les, friend,
Willy MIN 10 terms worthy only Of the Five
Poln.s, stab HIN in his mos, vital part, (the
confidence Of the public and then coolly
turn round aud ask this beneiacior, = loan
the constituents Of himself, and men 0! kiu.
dred stamp, more money
But to proceed The printed wrapper,
already presented, being found too thu, for
such 40 unexpected exposure, another PRINT.
ed coat was proposed, IN this manner seek
ing to hide It's detormty, and restore II Il
something like vitality. Well here is 1t
new dress. The payment Of one fifth pf th'
principal and interest 10 be strictly en(orc
ed WHICH amount, (Creddt Juda4s y is tt
be invested 10 Bauk Stock That 40 per
son shall be compelled to receive lhess
notes ~ pay meat Of debt, unless they choose
10 do So, nor salli any person circulate, OF
=. ,ko
No one person to borrow more than $500
IN amount, land, lei not our friends doub
US, we quote verbatim from the orgIna
piece of pa!chwork And the Bills hereby
authorized 10 be issued, shall not be receis
able in the payment Of Pdbhc Taxes, o
Bank Dividends, or any other debt due tb
State p
Thi. garment, however, was thought to
rough for the nckeiy limbs Of the od,prn
of the Senator from Wake, and beng di'
carded, the last attempt to c'othe II, va
made By Nj Cooper, the Senator froi
Martin. lie proposed, wherever tie wor
Bib occurred IN the original, TO strlk
out, and insert Scrip, and 70 make sue
Scrip circulate as money, 10 be recelgab.
in paymen, Of Public Taxes aud Bank u
yldeuds, or any other d-bi due the STATE
redeemabIe al all times at the Poblc Tres
suty, with any solvent Blnk Notes, OF g d
and Silver. We regret thu, It IS not IN Oh
power to spread beiu,e cur readers, N cor
nectloo with his gu! lsc,, the Speech Of VI
Edwards ~ opposition 10 this bill. Il
pronounced The scheme q total abortion
tina; if the Bill should pass in,o i law,
amended, that the third section could q
be made recolcileabls with tho first-ti
first section m4aln! NE issues redsemad
every four years, whist the third seciio
as amended, made them redcemabe eve
day. every hour, a; the Public Treasury
He had previously stated the Bill was U
constitutional, and lie now re asserted It,
The proposed issues were nothing more
less than Bills Of Credit, for which the r
sources Of Tue State are bound where
the Constitution expressly provides III
" 40 State shall eai, d bill Of credit" al