The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-02-02
From the Raleigh Register.
THE DEBATE.

The most interesting subject that has
occupied the attention Of the Legislature,
this Session, is the various Resolutions re-
lating to the proposition Of the Bank OF the
State, to close the business of that lnstltu.
ton, and wind up its affairs, provided such
d desire should be expressed by the Leg
islature. The House was engaged in the
discussion OF the question for five days,
and the debate was extremely interesting.
The Loco Focos assumed the ground
that the Resolutions of the Bank we're in
tended as a threat or menace, to irighten
the Legislature from any measure that
they might be disposed to adopt with re-
gard to the Banking Institutions of the
State. That, if they refused TO accept the
Charter, the Wings would taunt them
and therefore, let the consequences be
what they might, they would accept the
Charter.
The Wings contended that no menace
was intended, or could be fairly inferred;
but that the Loco Foco majority in the
Legislature, implied dlStrust OF the pri-
vate Stockholders, and those concerned in
the management OF the Bank. The Stock
holders therefore came forward, and said
in respectful language TO the Legislature
-" If you are dissatisfied, and wish 10
wind up the business Of the Partnership
he it so, We are ready to meet you" The
Wings further commended, that TO close the
concerns of the Bank would greatly Cypress
The people, and that as their Representa-
tives, on this occasion, they could not con-
sent to the measure.
At the out set of the discussion, the Lo-
co Focos expressed doubts as to the SIN
ceritv of the Stockholders, in making the
offer. But it was argued by the Wings,
that such men as those who made the
move, would not engage in such proceed
ing if they were not sincere. Throughout
the whole debate, (and something like for
ty speeches were made there was but one
or two, who did not express themselves
perfectly satisfied that the Bank was sound
to the core, and had been ably managed.
And no unbiased or unprecedented mind,
we think, could have listened to the debate,
without coming to the conclusion that the
Loco Focos felt convicted of the fact, that
they were battling against the best inter-
est of the State, for the sake OF sustaining
Il Party Crusade.
Many amusing incident occurred during
the discussion, and not the least so, was
the reference of Mr.. Bragg, an able Loco
l. ~ hY phIfh tho
Charter of the present Bank Of the State
was chartered, with view to prove that
it was not established by Democrats. Mr..
Barrinoer, in the course of the reply, took
occasion to read the list of the names of
those who voted in the affirmative on the
bill granting the incorporation; and, among
them, was found the name of MIR. Bragg's
brother, and of many other staunch Locos,
now in the Legislature, besides others of
the party, not in that body. Never was
any one thrown more completely horS du
combat, than was Mr.. Bragg.
During the debate Mr.. Avery, of Burke,
took occasion to read the Editor OF the
standard out of the democratic ranks
to divorce him from bed and board with
out notice--and Mcssrs. Jones, of Orange,
and McRac, sanctioned the bl'l of cNcom-
munication. The cause of offence, was
the declaration of an honestopinIon through
the columns of his paper, that the Bank of
the State was one of the best conducted
Institutions in the country, and that 1t
would be bad poIicy-ruinous to the people
to wind up It's business at the present
time. As Mr.. Mills expressed it, merely
because the Editor dared to speak as M
Editor of an independent Journal ought &c
speak-because he told the truth-ho was
denounced and rcpudiated.