Newspapers / The Tarborough Southerner (Tarboro, … / Dec. 25, 1841, edition 1 / Page 1
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Tie Ta Thorough Press, BY fiEOROE HOWARD, ta published weekly at 7Vv, andFifiy "r :r i : i.,cfl nr rtirct r.t ner year, 11 p;uu in .1.1 "- - r .,.. ner month ' .. cv.i. ,.;. i-a uront lilprtv to Continue at any tim, on irmn-T notice tin thereoi jniriniT arrears unoo iwi nice, ;.,,.;., kW n;v in advance, or mve a respon- J,i..0f0r0,.(. hi this vicinity. ,ioie ' . . . ......H'somont not HvcfipJinir a snuare will I) iJVrl,',,',,"" . 1 . A i " n,Jl tl.a firl 1 n cart 11 II. -.11 and '2.') ' ... fnr pvprv continuance nserif" - ; T Longer advertise- tg in like proportion. IJourt timers ana .in ? l .i j0rtif.mpnts -2S npr rent, higher. A! lmpnts must be marked the number of in Unions required, or they will bo continued until '.unvise ordered and charijed accordingly- " fPtters addressed to the Kditor must be post aid or they may not be attended to. Pianos for Sale. TWO secorul hand Pianos, in sjoml ol der, lor sale on reaonnll(i term Appiy to geo. uoiwinn Tarboro', July I, 184 1 27 WARRETO Female Seminary. 9 Mr. and Mrs. GKAVES 1VKtlu pleasure to inform tin 1 Iriendd ot education and the po'dio generally, that all the depiriments of in jiruction in this Institution are now filled with experienced teachers, who devote iheir iudivid'.i il attention to the intell -ci ual and moral improvement of iheir po pilj. By extending their supM vision t the most minute concerns of 1he seho I and securinor t He services of the most able and successful le.ichers, they will endea vorto render the Seminary worthy of the patronage which it his so generally re ceived during the few months it has been in operation. llr. T. II. Vandal Berg. Has recently been appointed Professor or Music and tntered upon his duties. Ill thorough acquaintance with the science of music, skill in imparting it, and extra ordinary execution upon the Piano and Orgin with the vocal part, have deserved ly placed him among the first of his pro fession in Philadelphia. The village of VVarrenton is notorious for the salubrity of its climate, and, beinj: situated within three miles ol the Hal eigh and Gaston Rail road, is easy of ac cess to pupils from the eastern and south ern parts of this State. The year is divided into two Session of five months eac!.. The first, which i the beginning of the year commences oi the first Monday in July, and closes tin last Friday in N ivemher. The second Commences the fir;t Monday in- January and closes the last Friday in May. ANNUAL EXPKNSKS. Summer Session. Hoard, per session of five months $50 00 Tuition for Ensli"h Mianches 12 50 Fuel for School Room Stationary 00 50 GO 75 $63 75 WINTER SESSION The charge for the Winter Session i the same with the exception of Fuel which is Si 00. Extras per Session Music on the Piano 5?20 00 Use of Instrument 3 00 Music on Guitar 20 00 Accordian 5 00 Landscape Drawing & Painting 10 00 Course of Lessons in Wax Flowers 6 00 do in Wax Fruit 6 00 Various kinds of Fancy and Needle work Mezzotinto and Chinese Painting Ihe Languages rpch COUNCIL. WM. PLUM M EH. E-q. T110S. Will J'E. Eq II. L. PLUM ME R. M D. J. H SOMERVELL, E-q. WM EATON. Jr. E-q. 5 00 5 00 6 00 INSTRUCTORS. N. Z. GRAVES, A. M. Mr. R. HKAVFS. Principals I WILCOX, Jlssisfanf. H. VANDEN BERG, Pmfessoi of illu s c 4S 5 Nov. '20, 14 I. JYoticc. JpHE Subscriber offers for sale on very moderate and accommodating terms ! good Votton Gin, 37 saws it is jn prime order and ready for imme(i,t,e vse in Vi' ne f IIarnjai1' Patent Thresh afV M.h,ne? which wilh one horse it is oUh ,hresh from 125 150 bu,h K to 2ftr!aL.l a,S 8nd Hce aJ lr0m 150 u0 bushels of peas per day. Tak , , GE0 HOWARD. rW, June 3. IS4L Tarbovpugli, ( PRESIDENT'S MESSAGE. continued from our last ) At vo ir late session, 1 invited your st tontioa to the condition of the currency and exehinges, and urged the neceasiiy ol adopting such measures as were consist of adopting such meisures as were consis tent with tha consiitution competency of the (ioreiMmeul in order to corr.n t the un soundness of t!;e one, and as far as practi cable, tlu inequalities of the oilier. N c-u:itry can be in th.J on jovment of its full ineasuieof pro perit, without iht presence ol a medium of exvdnnge approxima i:ig io uniformity of value. What h neeessi ry as between the different nations of th earth, is also important as between the in habitants ofditfere.nl parts of the same coun try. With the first, the precious metal. constitute the chiet medium ol circulation ud such also would be the case as to the last, but for inventions comparatively mo dern, which have furnished in place ol gold and silver, a pper circulation. I do not propose to enter into a comparative analysis of the merits of the two systems. Such belongs more properly to the period of the introduction of ihe paper system Tne speculative philusopher might find in ducements to prosecute the inquiry, but his researches could only lead him to conclude that the paper system had proba bly better never have been introduced, and that society might have been much happier without it. The practical statesman has a very d flerent task lo perform. He has to look at things as they arc to ti!:c them as he finds them to supply deficiencies, and to prune excesses as far as in him lies. The task of furnishing a corrective for de rangements of the paper medium with us, is almost inexpressibly great. The power exerted by the Slates to charter banking corporations, and which, having been car ried to a great excess, has filled the country with (inmost of the States) an ir redeemable paper medium, is an evil which, in some way or other, requires a corrective. The rates at which bills of ex change are negotiated belween different parts of the country, furnish an index of the value of the local substitute for sold and silver, which is, in many parts, so far depreciated as not to be received, except at a large discount, in payment of debts, or in the purchase of produce. It could earn estly be desired that every bank, not pos sessing the means of resumption, should follow the example of the Jate United Stales Bank of Pennsylvania, and go into liquidation, rather than, by refusing to do vvithout the express sanction of the legisla so, to continue embarrassments in the way live power. It also authorizes the receipt of solvent institutions, thereby augment- ef individual deposites of gold and silver to ing the difficulties incident to the present : ii.i'iled amount, and the granting ccitili comiiiiou of things. Whether this Go- cates of deposile, di 'ide! into such sums vernmenl, with due regard to the ri gifts of 's may be called for by the depositors. It the States, has any power 4o constrain the proceeds a step further, and authorizes the hanks either lo resume specie payments or purchase and sale of domestic bills and to force them into liquidation, is an inqui- drafts, testing on a real and substantial ba ry which v,ill not fail to claim your cousid- sij, piyable at sight, or having but a short eralion. In view of the great advantages Mime to run, and drawn on places not less which are allowed the corporators not a-! than one hundred miles apart; which au rt'ong ihe least of which is the authority th -i it y, except in so far as may be necessa contained in most of their charters to make ' r "for Government purposes exclusively, is loans to three limes the amount of their jo;dy to be exerted upon the express condi capital, thereby often deriving three limes' tion that its exercise shall not be prohibit- as much interest on the same amount of money as any individual is permitted by law to receive no sufficient apology can be urged for along continued suspension ot specie payments. Such suspension is productive of the greatest detriment to the public, by expelling from circulation thu precious mei.ds, and seriously huz wiling i tie success of any t lfort that mis Govern ment, can make to inci ease eommei eial fa cilities, and lo advance the public interests. Tins is the more to be regretted, and the indispensable necessity for a sound curren- cy Decomes tne more mauuesi, wnen we it fleet on the vasl amount of Ihe internal commerce of the country. Of this we'have no statistics nor just data for forming ade quate opinions. . But there can be no doubt but that the amount of transportation coast wise by sea, and the transpoi tation inland by railroads and canals, and by steamboats and other modes of conveyance, over the surface of our vast rivers aud immense lakes, and the value of property carried and inlet changed by these nieans, lorm a gen eral aggregate to which the toieign com': merce ol ihe country, large as it is, makes out a distant approach. In the absence of any controlling power over this subject, which by forcing a gen eral resumption of specie payments woulu t once have the etlect ol restoring a soum. medium of exchange, and would leave te me country but JilUe ta desire, what-meas ure of relief, falling within the limits of out constitutional competency, does it-, become J lidgecombe County, JV. oulurdai December 5, 1841 this Government to adopt? It was my painful duty at your last session, under the weight of most solemn obligations, to differ with Congress on the measures which it p!). osed for my approval, and which it d.mbtless regarded as corrective of existing evils. Subsequent reflection, and events dnee occurring, have only served to eon linn me in the opinions then entertained a id frankly expressed. I must be j'-m milled lo add, that no sc lemt' of governmental policy, unaided by 'individual exei lions, can be available for ameliorating the present condition of things. Commercial mo ies of exchange in 1 a good currency are bm the necessity means of commerce and intercourse, no! 'h direct productive sources of wealth. A'caiih can only be accumulated by the earnings of industry ami the savings of fru gality; and noiiiing can be more tll-juded than lo look lo, facilities in borrowing, or to i ivduudaut circulation, for the pjwer of discharging pecuniary obligations. The ountry is full of resources, and the pojde toll of energy ; and the givatand permanent remedy for present embarrassments must besought in industry, economy, the obsei vance of good faith, and the favorable in ihience of time. In pursuance of a pledge given to you in my last message to Congress, (which pledge I urge as an apology for adventuring to present you the details of any plan) the Secretary of the Treasury will he ready to submit to you, should you r quire it, a plan of finance, which, while it throws around t!e public treasure reasonable guards for its protection, and rests on powers ac knowledged in practice to exist from the origin of the Government, will, at the same time, furnish to the country a sound paper medium, and afford all reasonable facilities f-r regulating the exchanges. When sub mitted, you will perceive in it a plan a mendatory of ihe existing laws in relation to the Treasury Department subordinate in all respects to the will of Congress di rectly, and the will of the people indirect ly self-sustaining, should it be found in practice to realize its promises in theory, and repealable at the pleasure of Cong! ess. It proposes, by effectual restraints, and by invoking the true spirit of our institutions, to separate the purse from the sword; or, more properly to speak, denies any other control lo Ihe President over the agents who may be selected to carry it into execu tion, but what may be indispensably neces sary to secure the fidelity of such agents; and, by wise regulations, keeps plainly a pirt from each other private and public funds. It contemplates the establishment of a Hoard of Control at the seat of Go vernment, with agencies at prominent commercial points, or wherever else Con gress shall direct, for the safe-keeping and disbursement of the public moneys, and a substitution, at the option of the public cieiitor, of Treasury notes in lieu of gold and silver. Il proposes to limit the issues to an amount not to exceed Si 5,000,000, ed by the State in which the agency is sil ualed. In order to cover the expenses incident to the plan, it will be authorized to receive moderate premiums for certificates issued on deposites, and on bills bought and sold; and thus, as far as its dealings extend, to furni -h facilities to commercial intercourse at the lowest possible lates, and to subduct from the earnings of industry the least pos sible sum. Il uses the State banks at a distance from the agencies as- auxiliaries, without imparting any power to trade in its name. It is subjected to such guards and restraints as have appeared to be neces sary. It is ihe creature of law, and exists only at the pleasure of the legislature. It is made to rest on an actual specie basis, in order to redeem the notes at ihe places of issue; produces "no dangerous redundancy of circulation; affords no temptation to spec ulation; is attended by no inflation of pri ces; is equable in its operation; makes the Treasury notes which it may use along with the certificates of deposile, and the notes of specie-paying banks, convertible it the place where collected, receivable in -jiyment of Government dues, and without violating any principle of the constitution, iffords the Government and- the people uch facilities as are called for by the wants f both. Such, it. has appeared to me, are us recommendations; and in view of them t will be submitted, whenever you may eauire it. to your consideration. I am not able to perceiye Uiat any fair ........ , .. Mn-a-ir,wsr-iariifiBiTTm-irrmrfrff,,,ijin-"M"'"1 and candid objection can be urged agiinst j me pian, tne principal outlines oi wnicn i have thus presented. I cannot doubt but lb d the notes which it proposes to furnish, at the voluntary option of the public ere I itor, issued in lit u of the revenue and itsj eeriifitites ofdeposi e, will be maintained at an equality will) g ld and silver every; where. They are redeemable in gold and silver, on demand, at the pi ;ces of issue ;j they are receivable every where in pay -j mcnt of Government din s. The Treasury notes are. limited to an amount of one fourth less than the estimated annual receipts of the 'Treasury ; and, in addiliun, they rest upon the fifth of the Government for their redemption. If ail these assurances are not sufficient to make them available, tht'n the idea, as it scorns to me, o! funiis'i ing a sound paper nu'dium of exchanges, m.jy be entirely abm I ned. If a fear be indulged that tlv Govt rn ment may be lempied to run into excess in iis issues at any future day, it seems to me that no s ic.h appn hcusiou can rcaswn bly be cirei la i ned unt il all confidence in the representatives of the Stales and of the people, as well as in ihe people themselves, shall be lost. The weightest considcra-i tions of policy require that the restraints now prop ised lo be thrown around the measure should not, for light causes; here moved. To argue against any proposed plan its liability to possible abuse, is to re ject every expedient, since every thing, de pendent on human action is liable lo abuse. Fifteen ..lillions of 'Treasury notes may be isued as the maximum; hut a discretion aiy power is to be given to the Board of Control, under that sum; and every consid eration w ill unite in leading them lo feel their way with caution. For the first eight years of the existence of the late Bank of the United States, its circulation barely exceeded $4,000,000; and for five of its most prosperous years it was about equal lo 16,000,000. Furthermore, the authority given to receive private depos ites to a limited amount, and to issue certifi cates in such sums as may be called for by the depositors, may so far fill up the chan nels of circulation as greatly to diminish the necessity of any considerable issue of 1 reasury notes. A restraint upon the a mount of private deposites has seemed to be indispensably necessary, from an appre hension, thought to be well founded, that, in any emergency of trade, confidence might be so far shaken in the banks as to induce a withdrawal from them of private deposites, with a view to insure their un questionable safety when deposited with ihe Government, which might prove emi nently disastrous to the State banks. Is it objected that it is proposed to au thorize the agencies to deal in bills of ex change? Il is answered, that such deal ings are to be carried on at the lowest pos sible premium; are made to rest on an un questionably sound basis; are designed to leimburse merely the expenses which would otherwise devolve upon the Treasu ry; and are in strict subordination to the decision of the Supreme Couit in the case of the Bank of Augusta against Earle, and other reported cases; and thereby avoid all conflict with biale jurisdiction, which I hold to be indispensably rtquisite. It leaves the banking privileges of the Slates without interference; looks to the Treasu ry and the Union; and, while furnishing every facility to Ihe first, is careful of the last. But, above all, it is created by law, is amendable by law, and is repealable by lav; and, wedded as I am to no theory, but looking solely to the advancement of the public good, 1 shall be amongst the very first to urge its repeal, if il be found not to subserve the purposes and objects for which it may be created. Nor will the plan be submitted in any overweening confidence in the sufficiency of my own judgment, but with much greater reliance on the wis dom aud patriotism of Congress. 1 cannot. abandon this subject without urgi tig upon you, in the most emphatic manner, what eer may be your action on the sugges tions which I have felt it to be my duly to submit, to relieve the Chief Executive Magistrate, by any and all constitutional means, from a controlling power over the public treasury. If, in the plan proposed, should you deem it worthy of your con sideration, that separation is not as com plete as you may desire, you will doubtless amend it in that particular. For myself, I disclaim all desire to have any control over the public moneys, other than what is indispensably necessary to execute the laws which you may pass. Nor can I fail to advert, in this connex ion, to the debts which many of Ihe States of the Union have contracted abroad, and under which they continue tD labor. That indebtedness amounts to a sum not less than 5200,000,000, and which has been retributed to ihem, for the most part, in works of internal improvement, which are destined to prove of vast importance in ultimately advancing their prosperity and wealth For ihe debts thus contracted ihe States alone are responsible. I can do no more than express the belief that each State will feel itself bound, by erery, considera VoLXVllJTo 53. tion of honor, as well as of interest, to meet its engagements with punctuality. 'The failure, however, of any one State to do so, should in no degiee affect the credit of the rest; aud t. e foreign capitalist will have no just cause to experience alarm as to all other Stale stocks, because any one 6r more of the States may neglect to pro vide wilh punctuality the means of redeem ing their engagements. Even such States, should theie beany, considering tiie great rapidity i i h which their resources are de volving themselves, will not fail lo have the means, at no very distant day, to re deem their obligations to the uttermost farthing; nor ill I doubt but that, in view of that honorable conduct which has ever more gov. rned the Slates and the people of this Union, th. y will each and ail resort to every legiiim ite e xpedient, before they will forego a faithful compliance wilh their obligations. From the report of the Secretary of War, and oilier reports accompanying ,it, you will he iufoimcd cf the progress which has bt en made in ihe forlifications designed for ihe protection of our princi-1 pal cities, roadsteads, and island frontier, during the present year; together with their Hue state and condition. 'They will be prosecuted to completion with all the expedition wnich the means placed by Congress at the disposal ol the Ji.xt.cu live will allow. 1 recommend particularly to your con sideration that portion of the Secretary's report which proposes the establishment, of a chain of military posts from Council' Bluffs to some point on the Pacific ocean,' within our limits. The benefit thereby destined to accrue to our citizens engaged in the fur trade, over that wilderness re gion, added to the importance of cultiva ting ditmlly lelations with the savage tribes inhabiting it, and at the same time of giving protection to our frontier settle- ments, and of establishing the means of safe intercourse between the American set tlementsat the mouth of the Columbia riv er, and those on this side of the Rocky mountains, would seem to suggest the im- mendations upon this head with as little delay as may be practicable. "The report of the Secretary of the Navy ' will place you in possession of the present condition of that important arm of the na tional defence. Every effort will be made to add to its efficiency, and I cannot too strongly urge upon you liberal appropria tions to that branch of the public service. Inducements of the weightiest character exist lor the adoption ol this course of poli cy. Our extended aaid otherwise exposed maritime frontier calls fo protection, to the furnishing of which an efficient naval V .. : ht . loiec is inuispeusaoie. vve look 10 no lor eign conquests, nor do we propose to enter into competition with anv other nation fnr supremacy on the ocean; but it is due not only to the honor, but to ihe security of the people of the United States, that no nation should be permiltedto invade our vvati rs at pleasure, and subject our towns and villages to conflagration or pillage. Economy in all branches of the public ser- people; but parsimony alone would suggest the withholding of the necessary means for the protection of our domestic firesides from invasion, and our national honor from disgrace. 1 would most earnestly recom mend to' Congress to abstain from all ap propriations for obje cts not absolutely ne cessary; but 1 take upon myself, without a moment of hesitancy, all the responsibility of recommending the increase and prompt equipment of that gallant navy, which has lighted up every sea with jts victories. aud spread an imperishable glory over the country. 'The report of the Postmaster General w ill claim your particular attention, not onljT because of the valuable suggestions which it contains, but because of the great importance which at all times attaches to that interesting branch of the public ser vice. The incretsv-d expanse of transport ing the mail along the principal routes ne cessarily claims the public attention, and -has a wake ned. a corresponding solicitude on ihe part of the Government. The trans mission of the mail must keep pace with those facilities of inter communication which are every day becoming greater ihrrm.rh lh. hiiihiinir of rni I ro.ii! S. and th ' 7 ' - application ol steam power;, but it cannot be disguised that, in order to do so, the I'osi umce ueparimeni is suojcciea io heavy exactions. The lines of communi cation between distant parts of the Union, are, to a great extent, occupied by rail roads, which, in th" nature of things, possess a complete monopoly, and the department is therefore liable to heavy and unreasona- hie charges. This evil is destined to great increase in future, and some timely meas ure may become necessary to guard against 1 feel it'my duty to bring under your consideration a practice which has grown up in the'administration of the Govern-, ment, and which, 1 am deeply convinced, ought.to be, corrected. '' 1 aUud to th ex-
The Tarborough Southerner (Tarboro, N.C.)
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Dec. 25, 1841, edition 1
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