The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1866-02-28

lsent liabilities; and give the people cur
rency that will have credit all over the
Estate. and that will appreciate State secus
rites and restore public coahlence.
Mr.. Speaker. owing 10 the disorganized
condition of labor the people Of the State
need Intlulgcnce--they want time to SOW,
70 reap. and to dig from the soil the equiv
alents 10 gold and silver. Unless this in.
Idulgence Is given, the future, | repeat. is
filled with gloom After much retiec,lon,
Sir lam satisfied the bill under considers
alton will accomplish all that is necessary.
But the opponents Of this bull entertain
a different view. They say II will depre-
ciate the credit OF the State. rney SAY
that holders ot coupons would not exchange
them for the small treasury bonds, or In
other words, that they would hold on 10
paper evidences Ut State Indebtedness.
bearing no interest, rather than exchange
them Tor small bonds, which they could
loan out TO individuals, with goed security
and receive the lawful interest OF the State.
Owing 10 the want of q circulating medi.
un, these small treasury bonds ~eul 1 i,
0ace be M great demand, aud woulJ soon
become current sll over the State. ssf
Another objection urged i, that mas.
much Us they are receivable Tor all public
dues, there would be paid into The rteas-
urs ton many oil them and toa little Oh OH
CT currency 10 meet the ordinary expenses
VI the State government. True, = cohsld
erable portion Ut the taxes would BE- paid
in these bonds. but also believe that e
nough vi other currency would be paM In
TO the Treasury 10 meet current expenses
Thus. | hold. that tvo great objects woali
be aceeRplished--the state Monld be pro-
si,icd with currency, and ~ ordinary
expenses liquidaled.
But. Mr.. Speaker, there ate Senators
who take the extraordinary position thar 4.
the Convention repndia,ed The war desl
due our own citizens, The Legislature
should repadiats the antr.war ds0t lae
mostly iotusrigners. This i. false pr
siil.m. Tue Convention embodied liz H.
ordinance that IL shall be the dairy II the
Legislature, - soon A. IL is practicable, 10
provide tor paying all debts and ob,gatlon.l
created Or Iacarred b. the State, n,lirr stsc
than 10 aId ~ the rebellion TINS il the
organic las VI the land aud should be obey.
cd By tie Legislature. aad 10 il Tails heavy
responsibility will rsst upon this beds.
Sutha disregard loo organic Nv will re-.
peat the s,unning blow gwen 10 tie states
credit BY the Convention. Kepudl atson
regard ~ the most fatal step The State has
taken since adopting the ordinance u &c.
e-s,lsn. II took from the packets III the
people some ten Or twelve millions u mo
ney, and has lett y, without q circulating
medium. IRE the people 10 be left in hi
Stationed condition:
A great COMMONWEALTH. extending over
an area Of $500 square miles. with one
mlllion inhabitants. u 10 be l.It without 4
currency. Dir. speake-. beforr Senators
make up the,r minds, iet them remember
the high posl,ion We once occupied 10 Il
nancmi circles. A great responsibility rests
upon us % restore oar State IL her proud
position belots the world, and IL ,rllese
our people. IL i high time that We we're
maturlng som- plan, and believe ;hr bill
under consideration mrsts the emergency
Bur ran 10y 10 Senators that will sup.
port any other proposition that ~ill relieve
the people in their present conditiun-
which Is wretched indeed.
YHE CABINET.
II is nov definitely a,eertained that
Messr.. Harlan. stanton. aud Speed srpos.
ell the Presidents veto message while
Messr- McculI.ch, Welies, and Seward
have been 10 favor " il all along. and Mr..
Dennison gave in his adhesion 10 the mea-
sure but few dass since. No r,signa.
ton. Of members ~ the Clbinei have been
sent in yet, nor i there any ialnediat
probability Of any. PAiadtiplia gas.
|, il nun certain that renodeiling Of
the abinet u near at hand Sec retaries
Stanton. Harlan aud Speed. are satisfied
IL. 80. h.s.