The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-02-16

SPEECH

! or Mr. BsUNnrtL, Of Daridsoa, on Lr ReSola
tons in relation 10 the BaHs Of the State.
Mr.. SPEAKER | rise, with much reluc
lance, to make few remarks on line reso
luilons now under consideration. My re
luclance proceeds from CONSCIOUSNESS o.
my inability TO do Justice 10 this important
suhlrci but, sir, when recoiect that
represent, upon this floor, fifteen Thousand
iicemcn. who have deep and vital Interest
in this matter, cannot aud will not sit here
and give silent vote. If ! we're not tl
raise my voice against this destructive mea
sure, | would be unworthy Of the confidence
reposed IN me by my constituents. Before
proceed any farther, let me pay my &c
spects to the gentleman from Martin Mr.
Biggs) who, IN this debate, has been pleas
cd 10 denomInaie the Wing members Of lht
Legislature Bank Attorneys. Bank Orators
aud Bank Seifs. llHow not how II is with
the gentleman and his Parry-tiley may
have serfs in their ranks who bow the plan,
knee 10. and do the bidding Of, their lords
and masters. The Wings know no such
distinctions. Tue word serf or slave is not
found in the Wbig vocabulary. Wha, a
WING a serl Nusir, no. Rather Than be
a serf, he'd be a dog and bay The moon
Rather than be a seif, he'd be u toad and
feed upon The POISONOUS yapors ola dungeon.
Sooner than he'd be serf, he'd water the
earth with his hearts hes, blood.
Mr.. Speaker, the Democratic party have
waged merciless aud uncomptomislng war
against the Banking institutions of the
country. Demagogues and stump orators,
from the Mountains TO the Atlantic, have
raised the hue aud cry against the Banks
They have been denounced as corrupt and
rotten" as the manufactures of rogues,
thieves, and swinders." The Democratic
Presses have been unspaFins in their dcnun
citation and abuse Of the Banks. They
have been held up to the country as hostile
to the liberty OF the people. "The Banks
against the people" has been stereoiyped in
large and glaring characters, in all the Dem.
ocra;ic newspapers throughoD! the country.
VIA, sir, has been the effect OF this constant
war against the Banking institutions Of this
State Its effect has been to impair the
confidence of the people in them; 1t has
caused the honest yeomanry Of the country
TO look upon them with distrus, and suspi.
cion ii has discredited the character Of the
Banks al home and abroad.
What has been the course pursued by
this Legislature in regard 20 the Banks OF
this State Has il been such as sound pol.
icy AID patriotic regard for the welfare OF
suffering country would dictate! No sir,
quite the reverse. Bill upon bill, and res
oIution upon resolution, have been piled on
your table, lbs object of which is 10 impose
restrictions and prohibitions, the most IN
reasonable and impoliilc on the banks ofthis
State. There is bill CD your table which
declares, tina, if any Banking institution in
this State, shall al any time hereafter, con-
tinue for the period Of thirty days in any
one year, whether the period consists OF
consecutive days or not, e refuse payment
of its notes in gold and silver, it shall be
deemed forfeiture Gifts Charter. Let US
suppose that law, such as that contempla-
ted by this bill, had existed during the sus
pension Of Specie payments by the Banks
ofthis State! What, ask you, would have
been the consequence The mcst vivid
cannot picture 10 itself the
dreadful results that would have followed.
The Banks, together with large portion OF
the people, would have been involved 10
ruin. A genera! crash would have taken
place, and blow would have been Inflicted
on the country, from which it could not
have recovered in half century. The
Banks Of this State were compelled, 10 self
defence, TO suspend Specie payments. The
Banks, from one extremity Of the Union TO
the other, had suspended. Thus was ere
a,ed great and unusual demand for Specie,
which everv where commanded high pre-
MUM, and was sought after with the great
est avidliv. Had not the Banks Of this State
suspended, all their notes, then IN cIrcula
ton, would have been presented at their
counters for payment. All the specie III
their vaults, would have been drained out,
and large amount of their notes, unre.
deemed, would have fallen into the hands
of the honest, hard working people of the
country, worthless as rags, and we would
at this time be without circulating medium,
except that which might flow in from other
States.
Sir, the idea that North Carolina, one of
the noblest States of this confederacy, with
a population of more than seven hundred
thousand, and with all her vast resources,
should be dependant on South Carolina and
Virginia for currency, as has been avow.
ed in this debate, il is to me truly humilia.
ting. Mr.. Speaker, the Democratic mem.
bers Of the Legislature, seem TO vie with
each other in endeavorlng TO impose heavy
burdens, restrictions and penalties on the
banking institutions Of the State. The
Banks seeing themselves attacked on every
hand, have become alarmed, and one Of
them has come forward aud made condl.
tioual surrender of its charter. Within the
last twenty four hours, i, has been rumor
ed that the Bank of Cape Fear viii follow
in the footsteps Of the Bank the Slate
THIS Legislature is called upon to decide o
question of great moment-one oil vas' 70
sponsibility, viz ShalIthe Banks OF Norm
II ILL.,