The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-11-17

he says "ihat the Bank had failed TO &C.
compllsh the great end for which il had been
established" and goes on to recommend " a
National Bank founded on the credi; Of the
Government and its revenues" Let il al.
so be remembered, that this portion Of his
Message was referred TO the Committee on
Finance Of both Houses of Congress as il
should have been; that the Finance Com.
mIitee OF the Senate were composed OF
Messrs. Smith, Of Maryland, Chairman,
Smith, 5. {. King, Gilsbee and Johnston,
and that the three frs, named Senators
were loyal Democrats as we'll as jackson
men. Our readers may not know, that
there is but one or two OF those able Sena.
tors now living, and that one of them, VIM.
X hing, OF Alabama, is locked upon as the
choice ~ the Van Buren, wing of his party
as the suitable man for the Vice Pfeslden-
cy. Then let Us see what those grave
Senators said in reply 10 the Presidents
Message, so much Of II as was referred 10
them, and what they did say then, was the
out pouring Of their honest aud patriotic
souls, expressed IN the strongest language,
to save their country from the known ruin
that must follow the accomplishment of the
seeming designs Of the President. But
alas for the country-Jackson was not the
man TO be controlled even by his friends
when he set his heart on q purpose-his
popularity carried his measures and his
followers and advisers were swept away
from their principles BY the force Of the
popular current which carried Jackson
ahead, right or wrong. The Committee,
alter lew Introductory paragraphs, say
the currency therefore, of the United
States, IN its relation to the Government OF
the United States, consists Of gold and sl
ser, aud notes equivalent to gold and silver.
And the enquiry which naturally presents
ltselfis, whether this mixed mass of curreu
+ cy is sound and uniform for all the practical
/ purposes of the Government, and tie trade
Of the Union. That i, IS 60, viii appear
from the following facts:
| Isl. The Government receives its reye
nue. from S43 Custom Houses, 40 Land
Offices, s004 Pos, Offices, 81 Receivers
of internal revenue, 81 Marshals, 33 Clerks
OF Courts.
These with other Receiving Officers
which need not be specified compose an az.
gregaie Of more than 90U0 persons dispers.
ed through the whole Of iho Union who
collect the public revenue. From these
persons the Government has for the ten
years preceding the lsi of July 1880, 70.
ceived S230,069 $50 II. This sun has
been collected in every section Of this wide
ly extended country. 1t has been disbuTsed
at other points, many thousands Of miles
from the places where il was collected, and
distributed without the loss, as far as thu
Committee can learn, Of single dollar, and
althou. the expense of a single dollar 10
he Government. That Currency by
which the Government has been thus ens.
bed to collect and transfer such an amount
OF revenue TO pay is Army and Navy, and
all its expenses and the national debt, is un.
safe and unsouud, cannot be readily beliey.
ed ; for there can be 10 sureF tests Of It's suf.
ticIency, than the simple fact that every dol.
lar received in the form Of Bank note, in
The remotesi part Of the interior, is, without
charge, converted into a silver dollar, at
every one Of the vast number Of places
where the service OF the Government re.
qGTes lis disbursement. The Secretary Of
the Treasury in bis report of the 9Th of
December, ISIS, declares thar, during the
year preceding, the receipts Of the Govern.
nent had amounted to more than ninety.
seven millions Of dollars and that all paw.
Dents on account Of the public debt, whc,h.
er for interest or for principal, all on &C.
count Of pensions; all for the civil list for
the Army, for the Navy; or for wi loycr
purpose wanted, in any part Of the Union, I
have been puEc'ually met. The same off. {
Ger states tina: II is the preservation Of q
good currency that can alone lmparl sta.
bilhy TO property aud prevent those fuclu .
atoms IN IFS value, hurttul alike TO ndlyid. /
uals, and TO national wealth. This adyan (
;age the Bank has secured to the commu
nifty, by couhnlng within prudent limits its
issues Of paper, &c.
It this currency is thus sound and uni
form for the Government, II is not less SO
to the community.
Here, then, is currency as safe as
silver more convenient, and more valuable /
than silver, which, through The whole W es.
tern and Southern, and lp,eror parts of the
Union, IS eagerly sought IN exchange tor
silver; which IS IhroUehou. the Union c.
qua 10 silver IN payments 10 individuals IL
business; and which whenever silver is
needed in any part Of the country will
command II, without the charge Of the
slightest fraction Of percentage" Ia
another part Of the Report they say, at
is not among It's least advantages, that it
bears proper relation to the real business
aud exchanges OF the country, increasing
with the wants Of the active operations of
society, and diminishing, as they subside,
into comparative inactivity" In conclu.
sion, they say, con the whole the Com
mitlee are Of opinion that the presen, state
Of the currency is safe 10 the community