The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1843-04-06

II
Iduuhls oulirs. - aaa laxes insaFsd q nns,
To- he vast 81 undsfm enrsearF. We
lear enc lax 10 g;easrnmrns. AID anoshsE
10 bFoksrs sni shsrers. heesuse oar cur
rsnsy 10 belo. par 10 Nsw I0ik. whsrt
o1r merchants purrhass Ihsir gsodss and
ID he wesisrn eupllry. SHIRE msysrs
must subnil 10 he shave bsfare ihrE ran
cake Ihsir currency assilsble. A Uaiied
S,siss currency sould ssvs shai second
shaving tan. akieh 10 unjast and oPPrts-
sisr. and Imposed on the people because
he General GnsFFnmrni omiis and Leg-
leels 10 d. il duly in pr0vid.ng eommsn
currency Cor ciEeulzlion. The people IN
Norlh csraliha pay annually about eieh-
~ lhngsand dallaEs 10 support heir Sale
GaFernReni; an1 sfer much inquiry and
reflection, ! an satisfied lhry pay IN equal
amount 10 brakers and sLassTs for Ihe
difference in exchanges; that s, lhFy lose
about sighly ,hausand dnl ars every year
far the want Of . sound uniirj States
currency. on which there would be no
shafihg. II the currency usfe Al par. OF
. paper dollar we're squsl 10 silver dallar
IN value. ihsn The Government and The
people would be on ihessme footing. and
The people in me section III the Union
would MOI Be bound 70 pay double duiiss.
or two taxes. while those IN aaalher sec
ZION only pay one tar. or half he sum
sxaclsd from lhe fret class. Whenever
The General Goysrnmen; fails 10 iix the
value, and requisite The currency 81 Tie
country. then The brokers and sha,ers
have rich harvest. and make large for.
tunes ouI Of the labor and industry Ofolh
ers. .9- -.m-.... ..s...~-
You. gentlemen. know that have uni
formly been opposed 20 the large batch
and g'sal increase OF localbanks. that grew
ap ike mushrooms some six or seven
years sgo. They were he result Of q &C.
RES Of experiments on currency. against
which steadily protested and otjerIed;
saying. | thought " il wanld be well 10 lel
veil enough alone" We then had The
bes, currency in The world. The public
money was then removed and deposited
in State barks. and they immediately
flooded the whole country With seven OF
eight hundred different sorts Of bank notes.
The s ale banks were then the chosen
instruments of the administration, and
great faroriies Of The patty in power. l
VAS complained Of, and eensursd. because
| wosld mol sing praises to that mUsh-
room parer system: and now, "ihou
cans, mol say | dad IT," However, thai
experiment soon failed. and all the Stale
banks suspended ,pecis-pay menis--,he
very thing thai anticipated and predici-
ed.
I Then The Ssh-lnasury system was O.
dopted. That experiment separated the
administrators o. the Government from
the people; and in 1870 The people sep
drdied themselves from tia, sdminlsWs.
iion. end resolved that they would not
employ men as public agents who would
take nothing as money from The tax pay
ets bu, gold and silver. The revolution.
or change Of administration in 1910. was
an unequisocsl condo mnarion ol the Sub
treasury. II was repealed a, the extra
session. and ,hereb, the people we're per-
nired TO pay the demands of the Govern.
mrn, in current bank notes a. well IS
specie. The Sale bank system, and the
Sub.ressury, were both on The exuemes;
the first gave too much currency, and The
second too little. Oae experiment sIimu-
lated, and The other Frustrated the patient.
The new administration, under President
Harrison, was hailed with joy and ssn-
gurne antIcipalions. II was confidently
expected. tina. the FIST prominent mea-
sure Of his administration weuld be TO es.
tabllsh some sound national currency Of
specie par value. fur the use OF the Gov
ernmcnt aud The people mixed cur.
rency, composed Of good bank notes.
based on, and convertible into. specie at
the will of the holder. Iut when great
nation was looking with buoyan, hope 10
the General Government for wise cuun
ellis. Tor the resiors'ion Of credit aud con-
hdence IN public and prisa'e Affairs. and,
above all. i"r good currency. President
Harrison died, one month after his Inau.
guratlon. and nearly two months before
Congress met. by his proclamation, 10
enact such laws aud measures as were ne
cesssry and proper to relieve tie Gov.
eminent from embarrassment, and the
people from severe pressure and general
distress. That such man should have
died at such time, in so critical o peri
Iod "f our political history. " as national
calamity. The hopes and sutic,pa,ions
"I thousands and millIous Of human be
lngs were suddenly blight d, and buried
IN one mans grave. After The death OF
General Harrison, John Tyler, the Wee
President. by provision in the Consli,u-
tim. became President Of the u. States.
lie came TO the Presidency By an scci-
Dent, and most melanch ly event. not
anticipated by the American people. Suci,
10 the Trail wisdom Of man. Sull il was
hoped he would carry out. and give efTsc,
ioshe principles aud measures ot those who
elected him Vice President In that fond