The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-05-16

eminena ON which be stood, sooAeu ~ ,"v /,
G,II ev,rI of The eyis which we're 10 besii'
this country IN leiS 3. lie DIRE" rom
The pa,,. ara the then present, saluiary les, /
SONS %. the future, which We are wSba, he i
aliEins the truth Of. Oa ahy and follow the ,
predicted would acco,,.J States Bank = I
destruction of the .on bs found complete 7 /
Viii no, his pred l.
lie says: ,;,,v-o,,
IN dollars. Ia January, 1888, or
@t.to'in June 1894, II was one hundred
rsp three millions. lu 1896 1t cannot be
less than one hundred and iIreniy millions
An increase of siriy millions Of dollars IN
six years give the facts fromihe oiiicIal
returns made BY the Secretary Of the rrea'
sury. They come, sir, il is true, no lower
down than 1884. But If we take the aver
ace increase for two or three years before
thai time, aud reflect on the enormous rise
of property since "a sure indication Of an
unhealthy circulation We must be sal'shed
that those has been more than seventeen
n,!ions added 10 The ci,eale,'en ~i,h'n ,he
last sixteen months, and that one hundred
aud twenty millions is below rather Than
above the real estimate.
You see sir, therefore, at glance, the
causes of the present state of things, and
Who cannot also, sir, see al glance how II
is to end Ii the evil should DO checked
now, and the reduction be slow and gradual,
we nigh, escape the consequences which
time has inevitably in store for US under
another policy. Bat, sir, Ear from expect
ing this, look TO an increase olthe disease.
Il appears TO me inevitable. A universal
madness has taken possession of the public
mind. Within the last four months have
heard Of augmenta;ions ot banking capital,
proposed or passed. to the amour, Of fifty
millions Of dollars, and more | am told are
projecting; so that We may expect 10 see
This system continuing until it breaks and
falls from its own weight and magnitude.
In the present state Of things, the States are
all interested TO increase the circulation OF
their own banks, ard preveri that OF iheli
ueishbors. Indeed, We already see sy mp
tou.s Of q war Of legislation the result oil
jealousy, by which they are attempting to
ftstFdtli itlr uOAto " HuHhe VI ONh~A ~fA'~-
from passing within their limits.
THIS deplorable state of things mus, yet
get worse and well might the Senator from
Missouri depict it in the colors he did few
, DAYS ago. He could not overcharge thl'
, pic,ure-a picture, sir, rendered more pain
full TO conien plate, By the recollection o
! our condition before the war was waged OF
the Bank OF the United SisI,s. For SIX
teen years il regulated the currency Of ,h'
e country with wisdom and success ofwhicl
there IS no parallel. We threw il away
!, and we see what we have got in lis place
= SIR, all the projects Of regulating and check
ing the excess of bank emissions by law
refusing TO receive at your Treasury thel
notes Of less sum than $50 will have n
r more effect than would have bucket lu
10 OF earth thrown into the Mississippi rive
81 to stop lis current. And as 10 pushing go
q and silver into circulation when you bay
IS, five hundred and fifty banks interested
or gathering i, oil up, and supplying its plat
~ with their notes, that is equally impract
e cable; a cheap and dear currency neve
70 can exist together; the former always d.
H. slroys the latter. Having no power by th
le Constitution TO interfere directly with Stat
at Legislation 10 Ibis matter, see that I'll
ID country - destined to 90 through the san
70 scenes OF agitation and suffering which
n did previous to The time Of the latc Ban
re Of the United States. Alter The evils hay
10 come to height when they can no longs
be endured, ne shall have another Nation
10 Bank, and not until shen. But submit
nc d, would not have been as well to have pr
vented this state Of things two years age
enquire, whs! good has been, or can
=" attained. By putting the People ihrou2
no this fearful trial! Fire or SIR years hem
" piH be The time 10 get an ansrer 70 the
questions
:. Thus The reader will see, what was VIII
Prophecy nine and dozen years ago,
Hiaory now. And never did the " fac
!. ofredl life more trlumphantIy demon@,fa
the sagaciiy Of these eminent S,atesmeI
~ Inspiration from On high could only ha'
=. moro lumnousy loreioId the miserable {
:, ture than did the sagacliy Of these State
men foresee aud predict the ruinous tendcI
: cy Of Gen. Jackson's var upon Nation
- Bank.