The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1856-01-23
iistres. 10 arise from withdrawal Of over

distress 10 arise from withdrawal Of over
a. ,000,0a0 Of Bank paper, and the immedl-
ate collection Of MI The debts due from the
citizens to them, Wonderful and most alarm.
ing were those representations. Who could
venture to return to an injured and indignant
constituency after such faithless disregard
Of public ,intys 1t would not only ruin the
constituency, but. it would also certainly
prustrate the hopes of future distinction on
the part Of the young and aspiring patriots
opposing this interest. The interest in the
success Of these promising young gentlemen
was such, that a gentleman of more expert
ence volunteered to advise one not to commit
himself against the Banks, for that he had
long been satisfied that no man could rise to
prominence in North Carolina with this in
iioence actively Welded against him.
The last appeal was " strengthy," but un-
worthy Of the source from whence it come;
and the balance was erroneous reasoning,
proceeding from false views, imperceptibly
created by selfinterest; or, as Shakespeare
would express 1.-THE ,oish ,cds father 10 The
opinions expressed.
70 such evils need have been apprehendcd.
We have not reached the point Of abiect de-
tendency upon the Banks. They can WELD
an immense influence, and have the power 10
Cypress the people BY an i'll natured and re-
vensefuI policy; still, decent respect for
public opinion, combined with sef-ideresi
and recollection Of the advantages SO long
enjoyed, will restrain them in the exercise
of their power from doing more IN this res.
pect than heretofore. But if am mistaken,
IL they would act otherwise, merely because
they failed to force perpctuatlon Of their
p0wer-the sooner We rid ourselves OF such
masters, the better. Ii, with a capital Of IS,
coz, 900, they can place the State in posi-
ton to enable them to force an extension oil
their charters, what will they be able to do
with an increased capitaIs Exercise more in
iluence. OF course. So. TO acknowledge the
principle contcnded for, and submit to the
dictation cf these institutions, is to admit
that the creature has become greater than the
creator-that the Banks are above the law
and the Constitution; and we had as well give
them charter in perpetuity at once. Such
humiliatng admission, as North Carroll
Iian. proud d the old State, will never
consent to make. No, sir, no. There is a
recuperatins energy in the people; and when
their agents, created for public convenience,
fail to answer the purposes Of their creation
or time and progress oHers something better
they have the right to adopt it, and from time
to time modify their public institutions as the
circumstances under which they are placed
and the ezigencies Of the State, shall On may
require. In doing so, however, they will d
course regard aud protect vested rights.
Power once granted will not be recalled
but when the period Of corporate franchise
shall seycrally expire, according 10 thril
several grants, and they return for contin'
uation of Legislative fayors. that body has the
right to withhold the favor, without subject
lux itself to the isaputation II intringin:
! chartered rights. Such we're the ayowet
principles OF The opponents of the old Bank
last winter. They asked for time so carr.
the question before the people. whose decis
ion upon this and al ether important issues
when fully understood and acted upon. the.
are wiling 10 abide by. This ia what the,
desire, and nothing more, and nOtviihstand
ing the merits Of the controversy have bee
partially prcjpised. they hope Yet 70 secur
favorable hcasns before this tribunal.
LEON.