The North-Carolina standard., 1846-06-10
THE wHre MEETING IN duILFoRD. ;,

head, former Whig Governor Of North Caro-
lima, is at the bottom Of it. We had coon skin
and hard.cider panic in 1910; in-lS44 we were
threatened with 'REvoLUTIoN >" in case an +" Gp-
parent" majority should be returned for Polk
and Dallas; and now we are to have the War
and the Sub Treasury panic Well, so be IT.
The people of North Carolina are listening to
both sides; and, so far as are concerned, what
ever the panic-makers and dealers in false aTgu-
ments may do, we are determined that the people
shall hear the facts before their judgment is ut
tered at the baIlot.box
At a Whig Meeting held in Greensborough
on the 10Th ultimo, Gov. Morehead Chairman,
the following Resolutions were adopted:
"Resolued, That it is the deliberate opinion of
this meeting that if the Bill for the establishment
of the Sub Treasury, passed by the House of
will be impossible for any Banks, except the few
that may be at the points where the revenue is
collected, to continue their operations. They will
be driven necessarily TO curta all accommodation,
press their creditors collect their debts, and there
by produce universal ruin among all the laboring
and indebted classes of the country. E--
L" RESOLVED, That while we deprecate the RASH
ness and the imprudence of the Executive in in
volVing our Government in war with Mexico yet
we will stand bY our Country in war as well as in
peace; sustain the dignity of our Nation, and the
honor of our Flag and We will anxiously look for
ward to the period when the power OF the Ballot
box will place the the destinies Of Nation,
rulers of more wisdom, more justice, and more
moderation"
A very few words will show what the above
Resolutions are worth What is the Sub-Trea-
surge IL IS q plan By aohich the General GoU-
ernmsHt collects and pays out its revenues am gold
and siLrer, By its agents, and aOi0ut the aid
e ;e he f0f
per annum2 About twenty-nine millions of dol
lars. And what is the specie-the gold and sill
ver-of the United States2 About one hundred
and fifty millions Of dollars. And yet accord
ing 10 Gov. MoEehead, these twenty-nine millions
per annum, drawn from the vaults of the Banks,
Cleaving one hundred and thirty millions; for The
Banks control, if they do not hoard, allthe specie
of the country and kept in rapid circulation, first
from the government officer, and them from citi-
to citizens until it again flows into the hands
of government-this is to "PRoDUcE UNIvER-
SAL RUM! Who will believe such stuff as
th$2 And pray what are the Banks doing, that
the are threatened with destruction, in case the
Federal Government carries out its determination
to collect and disburse its revenues in its
way? Are they indeed unable to pay their debts2
If they have been honestly conducted if they
deserve the confidence of the community; iftheir
notes are money, and if they are as " good as the
gold," why should they fear the consequences of
an increased specie cIrculation2 Or are we to be
told that the people are incapable of seIfgovcrn-
mcnt or in other words, that though they have
a Federal Government, established by themselves
and calculated to secure to them the enjoyment of
life, liberty, and property, still one thing is lack
ing, and that thing is, It's utter inability to get
along a0itItOut the aid Of Bank? In fine, has it
come to this, that the Banks determined to
use the revenues of the Government, and thus
control the Government, or if they cannot do that,
to " produce unirersal ruin" ..
In another Resolution, passed at the same
Meeting, Gov. Morchead repeats the old slang
that the people condemned the Independent Trea-
sury in ls4O2 Well, Governor, suppose they
did and we aeiU suppose it for arguments sake.
Did they not approve it in 1914, when they elected
a Democratic President? And are we not bound
to look to the last expression of their will ?
Again. The meanest free negro in the land
has the right, when he sues for debt, to exact
payment in gold and silver; but the Federal Gov
eminent must take Bank promises to pay!
In 1910 the Democratic party in Congress es-
tablished the Independent Treasury. For one
year and one month it worked, and worked well
but the Whig leaders had pledged themselves to
repeal it, and when they came into power, on the
4th of March, l84l, they carried out their pledge.
The Bank influence prevailed, and the money of
the people was loaned, 0iLbout interest, to about
fifty State Banks. These Whig leaders, also,
about the same time, involved the Government in
debt running for twenty years. and while, un-
der these Wing measures, the Banks have had
some twenty-five millions per annum of the peo-
ple's money, a0ittO~t interest," the peoples govern
ment has been paying upon this twenty years
debt interest to the tune Of more than flee hundred
thousand dollars per Gnnu0u No wonder the
Banks insist upon holding on to the public funds.
We have only to add the hope that Gov. More
head, who is engaged in different sorts Of business,
requiring large amounts of money, and who is
connected with the Banks, either as borrower or
stockholder, IS not influenced IN has political prin-
ciples by his pers0n0I or pecuniGry interests.
The second resolution processes to "deprecate
the rGsbness and the inprudence of the Executive
in involving our Government in war with Mex
ico," and the hope is expressed for rulers of more
E Ewisdom, justice, and moderation" We take is
srIe with Gov Morehead and the Cuilford Who's