The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-07-04
| NUMBER fl.
fsEGs ADDRESS.
lCONCLUDFD.
RELIEF.

u,
10 The most contradictory schemes Of poi
=, icy. Never has the State witnessed such
a variety of Relief Bills; and those which
u commanded tie greatest share ofthelr pat
ronage, provided deluge Of uIedeemable
paper money, based either upon the credit
At Of The State, and therefore unconstitutional
+ being " bills Of credit, OF based upon some
fund, already the foundation Of paper ems
r sion. 1t was, indeed singular spectacle
to behold the Democracy waeing "a war
OF determination upon the soundcst Banks
n IN the Union, and al the same time, advo-
;. eating paper issues without dollar OF gold
Il and silver, with which to redeem them !;
: 10 hear the party on one day denouacing
Bank suspensions and proposing TO aug
5 mcnt the heavy penalties, already by the
} charter Inflicted tor the offence and vet,
see them Oh Tie next, struggling to food
The State with paper, which was 10 begin
ITS circulation in state Of suspension; to
continue lis existence, IN a state Of dis
honor; and, according 10 every lesson of
experience, to end in utter depreciation.
But financial quackery was the order of
the day, with The party; and The exhibition
of a series Of the most wreiched attempts
to make money out Of nothing, constitute
the only evidence of any exerllon to ale.
yiate the suffering of deludcd and afict-
ed people. Instead Of encouraging the
| Banks to increase their circulation, with
as much Ilberality, and to extend as much
indulgence, as practicable, the whole con-
duct Of the party was just such as had the
opposite tendency. Ia the midst OF severe
! trials, which had DESTROYED many, and
crippled more Of the Banks Of the country,
ours stood firm and sound, and never lost
the public confidence for a moment. Dur
ing the whole time, the investments of the
State, in these institutions, amounting TO
more than u million, were safely kept, and
proftably managed The capital was
safe to dollar, and the currency perfectly
sound. But the fiuctuating condition of
the Banks of our sister States, even after
the crisis had passed, necessarily drove
ours TO observe unusually strict limitations
bon the amount of their circulation. Such
was their situation when the Legislature
of SAP met. The members of that body
could not be ignorant that, i'll many parts
Of the State, the crops had wholly failed;
| in some bread had not been made in all,
! prices were extremely low, and heavy in
dcbtedness, general. Yet, in the face of
all these facts, they took the surest steps
to diminish the quantity of money, and to
destroy credit and indulgence, the only
hopes of suffering people. The adjourn
mont of that bCd, b1S hrop I, IIo,roJ H., ,Lo
most liberal course on the part of the
Banks; And all candid men have agreed,
that its adjournment was the most nstau-
aud valuable relief which it could
bestow on the country. And very gen.
erai regret is felt and expressed, that it
did not bestow that blessing at an earlier
day.
TREASURER'S ELECTION AND BOND.
Among the subjects of deep interest to
the people which came up for action, was
the election Of Treasurer and the taking
Of a sufficient bond as provided by law,
for the faithful discharge of his duties.--
\ most competent and excellent officer was
set aside, solely on political grounds, and
the place given 10 the former incumbent
of the Mint at Charlotte. As both gen.
tlemen have heretofore been employed in
official stations, and the official conduct OF
each has been subjected to scrutiny, we
freely submit to the candid judgment of
the people, whether by this act of pro-
scriptlon the interests of the public have
been in the least promoted.
But waving all considerations of the
propriety OF the selection, we proceed to
the Bond. 1t is known to you, that the
Treasurer's bond must be approved by
the Governor and Speakers of the two
Houses" When it was first presented 10
these fuuctionaries, they all rejected it
The signature of another gentleman was
then procured, and theSpeakers approved
ii; but the Governor still rejected it. In
this predlcament the matter stood for some
time ; the Wings taking side with the Go
vernon, and the Democrats with the two
Speakers-the Wings declaring that the
bond was insufficient and invalid; the
Democrats ayerring that the bond was
good, aud having been approved by the
Speakers, was approved according to law.
The Wings protested that they would
not consent 10 receive the bond, butwould
give further time, as the officer had
been only elected, to execute proper bond.
In this the Wings prevailed. Upon fur
Their investigation Of the facts attending
the execution Of the bond, it was discov-
cred that after its first rejection, and be-
fore It's retender, name had been insert
ed in the body of the bond-And also
that, aller.it was brought to Raleigh,
seal had been affixed, in Raleigh, TO tiie
name OF HEREFORD County signer, upon
mere Uerbal authority.
The refusal of the Governor To- "a
this bond, and the concurrence d
Members Of the Legislature in
1
*since the organization o
State, in 1885, the State b
Stock, in dividends S952