The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1843-05-04
LrrTrNEyER On FORGOTTEN.

psrou. eondincn ~hea General Jsrksnu
vas elected 10 he Presidency. and that
nsi.hsr patty liiea lsund any i.uli silh
lie currency or wilh The UnIird ) aiss
Bank. ~hirh had been The agent d The
Government Cor furry years. and neseE
Isl dollar rf lhs public morey.
That Gen. Jackson assailed The Bank
because ils directors rrfased 20 make il ,
political nseLins. and h. took from iss he
,aulls the public nancy. snd ral II InIu
vaults Of ihr numeraas Pc, Barks. telling
them ihroagh his Secretary, 10 discount
freely npon II.
Tia, these PEI Banks did ss hey xrre
reeuufd. and thereby eaussd other hanks
10 loan freely. aud hundreds ai nrw banks
lobe chartered. shieh made parer mnney
20 plenty that il hrgsR % De used Iur
specializing purposes.
That these speculsiians we're 81 hume
raus and reckless. tha, the sales alone Of
tie Public Lands sfonse IRON an average
81 about three millions Of dollars yer
in value, 20 tsen,y>6ve IN l:ilns in The
year 1894. and impor increased even 10
greater proportion. and al trade and COM
merce was driven fnrss ard into the most
reckless and rulnous excess of.peeulation.
That in this same year, 1896, The lac,
Of General J.ckson's administration. he
referred in his message 10 these rulnous
specllalions in the Public ]. nd. - N in,l-
eaton az public prosperity AMI his parry
through tie country called on the people
10 sustain his admins ration on account
Of the high wages AID high prices which
,hev drained!
Nov. On HE other hand. lei IL never
he forgotten. That The pre.eht exhausted
and depressed condition Of the country 10
the efTert Of The reaction Of the specula-
ting times Of Jackson apd Van buren,
thai when The Specializing iessr left The
country in 1896. the country ieIl PROSTATE
and pslsied with debt--ablch has brought
on the long train Of evils predicted BY
Wing statesmen, such rs R~pudla,iob.
Biukrup, laws. Stay law., &c.
Tba, Mr.. Webster in 1894 predicted as
lailows:-
- hasc already endeayortd 20 warn The
country sg'inst lrredeemable piper /; a.
gains, bank paper when banks 90 20, pay
specie foriheir own no'es;agsinstthsi mis-
cradle, abnminsbIe and fraudulent policy.
shirh attempts to give value 10 any Taper.
OF any bank. one singie moment longer
than any such paper is redeemahle on
demsnd in gold and SILVER. And I wish
most snlennly aud earnestly To repeal the
warning. see imminent danger OF thai
state oi ihings shesd. see immint neni
danger That more Of fever Of the Site
b'nks i'll stop specie pay ments. The lac
measure OF the Secretary, aud the ,nfaiua
,ion with which. II seems t. be supported.
tend directly and strongly To that result.
Under preface, then, Of design To return
t. currency witch shall be all specie. We
are likely 10 have currency " hich shall
be no specie at all. We are in danger
OF being oVer~ helmed with irredeemsb'e
paper-mere paper. repre- rn'ing mol gold
nor silver; no sir, representing nothing
but br"ken promises, bad { iih, bankrupt
corporations, cheated creditors and ruined
people"
Tia, Mr.. Clay ton in 1882 predicted as
fallows
The loss Of confidence among men
he total derange nenI of that admira-
BILE system Of exchanges. which is nav
acknowledged to be better than exists in
any other country on The globe. aver
trading and speculation in erery part OF
'le country. iha, rapid 1acrualinn in The
stsnda: vslle 81 money. " hicb like the
unseen pesIilenre wiihers all the. efforts
oi Industry, while The sufferers ase in ut
ter Ignorance Of he causes Of his desuue-
ZION; bankruptcy and ruin. at the anliri-
patton Of which The heat sirkens. must
f"ilow ia The long tram u! evils which are
sssusedly before u.s." ..t. ...=. 49,.