The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1844-06-14


when there - M greater curse. Every State
has an Interest IN the currency Of otter States.
But all may make Banks at discretion. Shall
government act the Shylock. by adopting sys,
ten by which only geld and silver shall be col.
iecied, thus drawing the specie from the interior
TO The ports. making State Banking improbable,
ana taking away the great tools OF trade--ior
money IS the agent of trade 2 The effect in Eu.
rope, wherever tried, has been TO reduce wages
TO or ida day. well regulated credit sys
TEN is as indispensable 10 the people as a sup
ply of blood from the heart. II is said by dis
tnguished foreign traveller in the United States
TO be the main cause Of the rapid advance and
great prosperity of this country. Tie yonsg
.4mer,caa operates upon moral capitol uhich
FIRE cannot burn. Mr. Iioke had told us that Mr.
Tyler had done without Bank, but he d not
tsi' u.s. that all the money had been deposited
IN State Banks, as il was under the Sub Treasl.
~ itself That is the reason it has been manag.
cd 30 well and cheaply There was no divorce
of Bank and State.
Mr.. G. was glad to bear his opponents libe
raj remarks about our State Banks But as'o.
nIshed at bis proposition TO discard every thing
that may do harm. Shall We abandon evary
blessing aud every institution because It may be
abused Shall we disband tho army because it
was once disgraced by the treachery of Arnold
or tho surrender of Hull Shall we abandon
government itself because il may be made IN en-.
gtne of oppression Surely not! Guard, cor.
rect, amend. but do not destroy. Look al the
aggregate Of good or evl. If good preponde.
lates, retain IT,
The argument that capitalists would have TO
call In the aid of the constable 10 get tho money
FOE Investment, was en- argument against all
Banks aud public Improvements. Bat there was
plenty Of capital, which would have come out
from IT'S hiding places il the Bauk bill had gono
into operation. Capitalists had holrIed because
they did not know what was TO Le the a.tiyn of
government, which, for or wears, had tended
to mako the ncb richer aud the poor poorer,
In reply to Mr.. llokes remark about office.
k1nlcrs at Washington on the accession Of Gen.
llauison, 'lr. Graham said, it nigh. well haze
been expected that lhre would be a good many
Vacancies. All tie dofluilcrs who had been 70.
tasned IN Office for fear that their removal would
injpre the party, would necessarily 90 out, and
OF course there would 10 many Offices to I'LL
lie did no. consider tho land fund as forming
any part Of the revenues OF government. After
the payacnt OF the public debt il VAS expected
aud intended 70 be enjoyed by the States seyerally
Congress has not treated j, as public fund. -
They have made grants OF more than 5 Coo, Geo
OF acres to the States, for Internal improvements
Colleges, &c, besides every 36th section for
Schools, 10 say nothing Of grants 10 corporations
for benevolent purposes, and 10 foreign cxes
who have come among US. From l525 to lS4l 4,
alone, $500, 900 acres have been granted for In.
tctnal Improvements Mr. Calhoun proposed 10
ceds the Lands to the States N which they lie for
80 pr cent. OF what they might bring. and az
terwagt5 fur @ per cent and take tic bonds of
Ito States. Thai, however, was before TIC DAYS
or Reputation, Nr. Graham defended tie al
lowance Of the ~ per cent 20 tie State, in which
tic lands lie, as matter OF Justice to them, and
lie grant Of 800 099 acres as matter Ct benefit
10 the United States 10 tho increased value Of tic
fe.t, and because Of similar allowance to o'her
states. And besides, the grants OF 500 0DO acres
having been made b. statute, could no more have
been repealed than tie grant by this State 10 a
private individual could be repealed or Invested.
He showed that il was not tao fault Of the
Wings that tic Distribution wa, repealed They
passed tie law and the President vetoed IT, C..
ted Gen Jsckson's we'll known and emphatic re.
commentator IN lis message Of 80 OF ccsslJn
10 The States in which tov lle and Mr. KIM Of
AlabEms's report, that we should TOOK 10 tic
Coston noeses and not to TIE lands for rove.
nHc Thus showing the true contes' on this sub.
lcct Of tie Public Lands between loading men
Of tire two great parties Of The couH;y, Was bo
tween local and partial cessious on tie one and
and general and equitable distribution auonE
all Q States on tie other, mott CT regarding it
as fund on who. We are to rely Tor reyel ue
for support Of government
In reply 10 Mr. Hoke's remark that TIC WEigs
OF tins State had condemned the pre- omplan
principle ~ tie resolutions which caused the re
sisnatiou Of VI ssrs Brown and Strange, and
", that tire Wings Of Congress had emb died
tie pre- omp,ipn in their land bill IT Ora am
showed The entirely opposite aractcr O. tie
two ys,ems Of prescription. I cy were as NJ.
like a monkey was uuliEo auian. ULd.r tAs
old system, wealthy man tlred q seofo o mon
20 settle on us many separate tracts OF The bc-t
public lands aud IN SHOT timo he would { rs
acquire rig TO bar them all at the lowest pUts,
and send Of his uen 10 settle Other tracts IN the
same way aud thus tho best lands fell into tie
hands OF wealthy spectators who then sold Il ON
20 tie poor cmlsfaui al high prices Such were
the pre- enp'tcn laws Of the Democratic admin
is'rauons, Bat the presumption law that the
Wings passed. provided, under tie surest guards
against aus bu, tie actual settler getting It's bono.
fl, and re cannot have II more than once, nor If
te owns $50 acrus elsewhere, nor with view to
sale, but for himself alone to settle. 1t is
pre- empton law for the benefit Of tia poor
man WHO moves of to the new lands, and 10 De.
feat the schemes Of tie speculator
There was nothing Tyler had done that lie
more regretted than the veto Of the u s.rlbu.
ton Tic had looked forward with deep int.
rest to the vast benefits that would flow to North
Carol.na from the devotion Of this Fund TO pur.
poses Of Education and Internal Improvement.
lie contcndcd that the people of \. Carolina
had made Up their minds in favor OF distfibui o l.
in favor Of National Bank. and against the Sub
Treasury. In 1917, the whole Legislature, OK.
osp, members in the Senate, had voted TO ask
tho establishment Of Branch of the Bank IN this
State Brown, Saunders Wilson, and other lead.
ing Democrats had voted for it. e.chartering
orr State Banks. and in creating the Bank OF
Newborn, (Which Mr. iioke himself voted for
there was provision made by universal consent,
that they might deal in the stocks of the theu T..
S. Bank, or any future U, S. Bank. In lS3S,
n. Carolina denounced the Sub. Treasury, And
al the last session the resolutions ofthc Democrat.
ic party did not object 10 either of these wing
measures. or advocate the Sub Treasury. Why
Because the party must have felt that TO do so
would DO unpopular, aud contrary TO public sonti.
mont.
Bot ho thought his opponent could not object
10 a Bank with 30 millions capital for the whole
when he himself had voted for the
Charleston, Louisville and Cincinnati Bank with
q capital of II millions for the -four States of N.
and 5. Carolina, Tennessee and Kentucky.