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Laws of NortlhCarolina.
1 1 At K rt'.'y tt4 eartf ht t (T-it tcrtirrim ttUUvt ta tat D rnivUry Kn between this Ststt md
M U f ht-uiM.aio.ln, t ttsJ Intw by the Comn.UUorrs of the std fUate respectively, t-n t
fand " Vvimiri i u widmiit r.iiiHru a a Miff o, na 10 fiin'jinu an. tcimna b S44
p , s ry sum y-n HtitM'i end ir d uprrt ty iht vol 1 CommWilortcri.
U'lltiKKAH T nmltovc, MontfortRtokc a d JohnPuU in. Commissioners
ah winintcd and null! 4 (1 on the n rt of the State of North Carolina I And Jot
n4li')u John Ul4iMj(.tmc ainl Ucorj W liarle, Commisiioncrs dul ;
. Intida'i lauilvriciloithc part ufthc .State ofSoulh Carolinn, to run and mark
iiMnJuy liite lctm-cii the nKl Statci ogirtably to a provisional article of
t M Kiiw J rxaray river, tti ihe fourth djjr at hcptcmbcr, one thotmnd
t! Aif ut Ja d and thu rn, did bmii 'f the tlcnnth day of inurnwr,itic!Ttiiii
ilm)tt'it luiudud diu fiftcui iii Mf the tcruiimttion of the liu'c of urn; thuuun4 neven
v , w tj ttod m vinn'.tftu, iind pncvd tu run und mark the uid Uoundry lifx a-
rrmLlr to the ttNu ol the M provUIoti.il article t Aixl wltc eat die taid Com
eiiiViorrrt luting ascertained by observation and by actual experiment that a
couir wett '"lm tne termination of the line oUcvcntein hundred and . kcVcuty
Mrt Mld not Htilke the point of the ridiK dividing the vater of the north fork of
1 i . r I., mia.... ..fil. u...iL f ..L . . r 4...I...1 . . ! i I. . w., . - . ...
ipfU l river lion lv nau riui inv iiurm iur ui uiuii mhi in iiic uiaiutcr knii
txiithH Jf tha iraeoct eT poUJcal alarms )
cntltno in ctoteqant of tfcttxplutioa of met
rtntii tp pi Con, m omtimc br Ut reln of
-1 aUroqrV,, count of trC. But vhoocver
lK uncrn.jr occufi tfct irmnit clujgt of
yucro, it K a octMri1y to (Jtav, tUt lU an
tujritf wtctx w tkM compttcot to ctttbUshthc
aatiuiial cok m akato eoapctot to crtato a Mtioo
U ratMtiioto. It tua bapMBtd. owa?er. that tho
euio of Hio Unltod Siaica la otaaod to bo tho cbx-
Uui(neuiDora .tMnea ao4tbatno aa'-wltuu
iaa hilruf Nco otovidad by ia aatxtna! Mtnori
j. uurtufi tf,f uat ytr. uv pcTp.i uoko ea
Whoa oiiMi a4 wu of NavEnrlatMt. reaolvcd
t ut h7 Vrcui4 no Umgtr lua tola in pymnt of
u;el t of ua flrm or Uir cuu imert, far
wty ttcctf cJ rpon depoaite. ; la thia act, tho o
rcmmooioJ tba uhm14ui ludao tMrtkipiic 4
pf vc J t 'T lt mrrency of too , oothn. Br
t.iia act, aithoui no u can cunathutiotuJlj cdui
bBla of credit, curporaUoni croctcd by tho aererat
autoa luvo bcea enabled to cirrolate a paper tnedl
um aa Ject Vf xawytA tHopraciicaJ mconreoicocca
wf ibe protdb A b. of cre!ic
11 ia tratimendrd, Ma occaaion, to condemn
I 1 Mi.ioril at. nm aut tonokin .r 01 .
Mitwcnt on Uhtlf ul tliv ulil sUttt, ami BtH"ir lliat runiiiuir a line on ihe toi .pwimi i. li. .wi.o .probing ciU whk.
TnUlrMge o.o leave .11 ! .U.S S.l,l., nvir 5hM &.M..U,rftJSr.S
S)ti:l)CaioIina. would (in one place) i uu u l.ttlt ttoi th of a course tlue u est Itom the 1 .,re.-uai. n g r ohka orfri .ailr in-
tinniiiatix n of the Mia line of vv ntrtn hunditd and acvcr.tj -two, and tjiat cor.ve
cuiitl ti i imkI pioyUiounl article of iiitimcnt could not bebtriclly undiitctally
ifultl iii' tifict; and whertan the alcJttaaid vom.oisnioiKMK for tli, inirpo.se. of lw
4 a t ' f .tail I . l'
ii. ii a jUi ;'A hfiundarv ai far a the Lhvrokee boundary line run tu jthc year c
Jvmtrcn In. .dretl and tuntty aetendid tigreethat the boundary hue between the
'wd&itt jtiiouul' be run catthcride arun t ihe hid springs of the north fork
6lS Irt'u live: J likI ilti tun Mid m&rk tht i id Ixjuhdury line in pursuance of
,jvh jl". vement, .ii id have unaunnoualy ree-'i A ndtd that the same be established
bv tfic i-tyisijiurcs of eht lenptcuve hLatcbrMP ..r line intended by the provisional
-J;idkfirv4i., and the pvi manciit ll.ie ot reparation and limits between the
'jirt ii tea. .
I Be it therefore ewutol htjthe General Asp mbly of thr State of JSprth-Carolina,
mit tt UrrtUJ enucttti by the cut Unity of the tame, 1 hat the boundary line so run
i . i . . .. . : . ..i ..: i i .1 it. ..A -- ,.1-- . I
.KlUl.ikvU iy me toiiiiui9iuivra uiuicsu i muu uiacuiKu n incir juiui rcpori ana
iiurtitl kurvc) aubtniUed ut tile Leilutuies ol their respective nates, that i to
.) b g niiluma a a.ouc bet up at the ictniuiaiiou of the hue of seventeen thou-
UHt w.t IkuiiUreu and aevinty.iao and marked N. L. and L. SepUtnuer tiltcv ntiif
W thuuvuidvijjht hundred and filieen," runubig thence west four miles and ninety
;u.iUu Hone niatked N. C'.and . C tnence suiith twenty live degrees, west one
itiudita kwl eigliUen poles t. Uic top of the ridge dividing the waters of the north
!k Vi i'atofct uver horn the waura ol Uic north lor k of the -alutlaiiver, thence along
V van u- to Ui t o the Mid fidcre (attitialih to thrpiattTip.d t,urvjtitrp.dby.lU
iiiuiaaaaivra and uf ycyuro of batftatote) l-tlie ridge that divides thr Saluda-ar.
':ti ifOiii those tit Urccn river, thence oiong the various courses of ihe'a'ald ridge a
..ii. . i i i .. . i . i i i ...
yvcaui) lu ue sum piau upu svire) to u siouc bci up wuerc inc tiuc juiua uic luata
f4$c ithich divides the easleiii hem ti.e m turn waters and which stogie is i-durk
JiN.C.u.db C. bepiwiuher twenty cigiuu, one thousaivd eight hurdred nd
luiiti, tltnce along the various com ses ul the said ridge ugr-euhly to the said
; Lit ana kUrvey to u stone set up on that t ol .t v. hich is intci st cit-d by the Che
; ite Louudar) line run in the ear one thousand bi.(.n hundatt and ninetj st ven
-4 which hloue is marked N. L. and b L. one tnuusand ei8lu hundied and tnir
tiu und from tiie said lust mentiomd sione on the tvp ol uic said ridge ut the
Point of intersection uioresaidu direct une south s'ut tight and one louithdegret s
'.vest, tucnty mites and eleven po.es to the tiuitvfmn dcgiec ot north latitude ut the
Ujck on the east branch of the hatuona river marked lot thirty live A. I), one
tiS4iid tight hundred itnd thirteen, ni alia distance ol sc vcnty-lour miUsaud one
until ata eufiut nine ooivs be and the same ts hereby ts:;.blUhtd as the boun
i hi !iutc andthestaie ot'6ouihLarolma, from the
iOMrAVheUi-U tWRbvfcrtiB-ercofl aaido.auod .ovoa uf tho oatka.of ;f.: vM
f J m j m
4T nut outwit. uti iait andthestaie ot isouih-l-arolma. Iron. the tcrmit auonol
tt sud ltni. one thuusaudseten hundred and stventv-two totlierock on.the east
01 tin. v.i.ato !i rivet marked lot thiru -five A, U. one thousand eicht hun-
ttlaiul teen u.ia UA tae umcement entered into by the commissioners afore-
ii rctitcting inc said uo.uidaiy line, be and the same is hereby ratified and con
Jimtd.
ll. And it- it further enacted. That the joint report of the said commissioners sub-
llttlvl t., 1.1. I . . ; ...,A nil f,rh.. 1 1 1. A. 1 1 V . lit' iiirilimaint(; . nturufl t
i Mwttn tne uid st..iei rcspeetii.g the boundary line between the said states and
Utcto coiiciud'e such coi ventions and agi cements shall be recorded by tho becu-
P)ul hute i a well bound b;ok in the order Mjvnichauch conventions, agree.
tnu and repoits have been s veraliy made, and that the JSccretary ol St.vte tieaU
eu lot una service such sum as tii excellency tha Uovcrnor shall deem the
tue iq be reasonably Worth, to be paid b tire 1 rcasurcr upon a warrant from the
pernor. ' ;v '
liLAiljlth.ii b tthPuUi',
"ft'efotiitlution of the Untied State, enntrresa
I fxpit y vib d wm the power to coin monty,
, J Hte the vi.uc of the domestic and foreigu
provision 1 to emu bilia ot crtian
oeclurtd by the sun ioatrucoent, that
f f to rirculaiioii, and (aa a neiessar tmpUcbto;
!.hiade
I at..
r,l0 ilWll Coin mnnrv. 1 or mr hUU nf r-r,l.
irr"?,Muuuoi:.l-uthor.iy tbt money of tli
V? ?"te' h" eatattishea by LiM..siat
HWliJmado whh Sld' 'Ver and copper, Al
ig ?ol1 and ailv.r coi! a at ipeuficd ratttmre
n0 ursi ill8Wncc, pou the time tOounj;
f'tom,of ti,c Ui4tedbute,but they ceaa
vtft the exception of bpaonh nuUed dollars, k
vtfTu! i0iW t0 ,eBi tender for the p.y
4rKb,od.'al ir.Moyear ISOi V
lsh K.- 7 "W"J w emu dius 01 creatt,
'is 7 WJT M wwa vopm hi.
?f tho:corporat.o,
; W I M the, treasvrfy notes ! rata their quality.
t w ic uavv uce - aiucc ishuou i ir uic ti vi - ut tft
1 ue w a, i.v been endowed with the sime quality
But congrrss has never locogrird by uw thv i.oie
of any other c?rp iratior, f nor tus it erer authoris
ed tin issue of bills ui credit to sewre as a legal i n -rency.
Tuo acceptance of the notes of baQkavri icb
are riot esUb.U ied by tho federal authority, n pay
meiits to the United States, has been properly left
lo the vigilance and discretion of the oxccuUre de
partment while the circulation oftiie treasiiiy notes
employed either to borrow' moitey or to ; disclWge
debts, depends entirely fas It iuyht to depeuU) up
on tho option of tho lenders and creditors to receive
them. ' " - , -, ;.;.-
The constitutional and legal foundation of the mo
netary system of the United States is tr us ditiocUy
Seen 1 and the power of the Federal government to
institute and regulate it, ., whether the trculaUng;
medium oorstsis of roio or bills of credit, mUst iii
its general pulii as well as the terms ofttsiovestf
ment,bo necmed an; exi luniye power: It is true
that a system dependi
bcious metals, wul
Uives w icij.dimi
tazm and per Ua4 justified trie conduct 6f the banks
1 .s p 'ScU aw y 1 aia t.ie conui.uance J the auv
petiwwi of Bpe it pj) tnnnts must be ascribed to a
new scrtes ot tuvs The public credit and n sour
ces an no la.gr iiopuircdiiy tue doU'ts and agi
uu 4 is excited t'.urt .g tho wr ; y t e practices of
tbetncmyt or b U.c Uiroadaof an ididt commerce;
yet te rtsuirpltoo of apecfc payments is alili pre
ycftted, eilltai by tho reduced state of the national
tick, cf the preci os metals or by the ap
prehensioa of turuict redurtion to meet tho ba
Uaces f a funltjM trade : ir by the reeundaht ia-
luoof the bnk paper Tbc probahle direaion 8c
iwuruiinn of me tutur causes, constitute, therefore,
te existing sui.jsct lor deliberation. While they
onti.au to operate slowly or combined, tlve autho
rity of te stales ind.iridu4!iy, or U.e agents pf the
ttjte i'tutatioia cmnot afford a remtdy cemmensu
rto whlJ the evil t and a recumnce to tiie ration: !
uutho.ity is indispei-Sublc, for tae restoraticu of a
national currtocy
In the selectiari of the means for the accomplish
ment vf this important object, it raay be asked 1st
Whether it be prrucable to renew tiie circulation
of ihe gold and sil? r cuius ? 3 Whether the
State baiks can be su-resJuif Vropli yfed to fumisl.
an u-Hfiroi eurrr.cy I, ,Sdly WUt. er a natiohul
pov?'t. And
iisf sawt-lyai
.baae, vf pxrrnanent and uniform value, tarougtl
iui jne u mea states- , .'
In Aitie U. iied SttescTenot posstss mines
of g .d and stivar, the , supplies f tnese metals
must i a time ofsarcny be derived from foreign
comiuercc-If the balar.ee ot foreign com
m r s bt Unfavourable, tho suppiy will itot re
tutitw(l r'Ki it: tjlly, .sifi the case of tho leturns
hr a surp ys .f American exports, but must be
le ucj.;i t of a dwect purh'ise. Tnc purchase of
bu'lio i, hoTiVer, a common cpa-jtijri of com
'neive . nd dep. nds like other o)craiioosj,upoo
the iihioccinJ nis to import the ankle.
Tne in .u c merits tu import bunion arise as in
0i bar cases, from its bung cheap abivad, or from its
being tfer at ho ne NotwitHstandir te conamo
tioh id South A-uiencu, as well as in Europe,
there is no runs on to believe, tl.at tua quantity of
t'H' prennus metals is bow (moreythar. at y tor
mcr pcrioif) i .nufficurnt for tiie demand tbiough
out the coinincraal and civilized wurld. The price
may be higher in some countries tha t in others ; 8c
it my bo different in the same country at oifl't
ret Unres ; but generally, t ie European stock ol
o.d ami wver has been ubuird nt, even during the
protracted War wnitb has afflicted the nations ot
Europe-
flic purchase of bu'lior.jin foreign markets, up
on reas. nib e fvrms, is toen deerritd praciicaile
nor can its importation into tho United States (jii
eve.'itual'y to be profitable Thu actual price of
the gid silver i;. the American nVuket wouxi
19 tiscil atlor.-l iur Home uino .nipit premium ;
ltro' the fidlin .iv: (iioe must ofc urse be.prcpifr
tio.jaD:e t j the luucisu A the qua.miy Duutjs
, wi.hiit.it aope ;fa wise poliy, to create action
al -kmands for coin, tana in Utat wny to, multiply
the inducements to Import sod retain them. tais ot
Wiitch it is i'oiapnsed: ror instance, the xcessive
issue of biok'paptfr has usurped the place of the
ntaionat rrVfciey j and under such circumstances
g dd and silver will always b- trtked as the article
or in-,MThar!;z. t but itisJioped lhat the iasuo . of
bank paper wul sooa Ue reduced, to. us just s)iare in
tiie cwcuwlli g medium of te coU; Uy ; and coi.se
quepUy that tdecoi of th. United States will 're
sume its letfuunate capacity arid coaracler. Aguin ;
tr.e treisuiy, yielding from necessity to tho generaf
impuise," ha hitherto consented to receive barik
paper ih payment of duties end taxes ; but the peri
od approaCttos when; it will probably b?tome a duty
to exict the payment Mtbertn tzeaaury' notes ol if.
gold and silrer coin of thekUiuted States, 'Again j
the institutions fch ishaU bo'. deemed properv in
order to remove xkfsijir' mcohveriiences, anct to
reoro tho national tiurrencv,' may be so . organized
as to ev'esite tne interest and ebterprize ;of M in
di'Viduafar in' ferovJditf;tha jfnearis; "tot establish
" ' t... U L. r.i. ...It J ' il .1.' ' ... I 'V -I-
- uw , iuiibw wuarvti, tm n ham iwnui vcjk
of 16 prectous . mcub ks oot so Teduu.d as to no ,
dcr . the Tperstkar of reiitaour t? tbeir Mtkiti ia
the oadoroa curreocy citoar dHWolo or prurecud
Th qusnOty actual.y posses-cd by to country U
cunsldvrabl j and the rcsoadtaUon uf public con
fideDCora bsok paper, ci ia other tubsiruica Lr
cola, seems iono to W wanting h rendr it tquJ ,
to tbeacrostsiood cootflbotkA for a cirxuLator mV
drum.' I otsef countries, as wcU Sa tn the Unr.t J v."
States, tka oftca of art excesuva isaOe of paper mo
bcj to banisatba precious motaiskas been seen and)
uttdcr chcumstctKcs much vj&oro disadrantagut .'
than the preset s the effect of public cotfifUrnc-,
b oatlooaiinautuuoQs, us rscal tb precious mcUls '
to their Use to excJiargc, baa also been experien.
cad.' Even, howerer, a were practicable, 4 J,as .. .
sometirjKS bti qoeMooeti, whether k winild, bo '
poliu jp4o to-nnpiv geld am) silver frr t&c par
puHwiimiiMW iuiiway-n W Miry qj .Qt .
TersaiTy suppoaad, Uutlomaiutaui a P-per mcdiiaa
witnout deprecation, the cenairjtybetrg abk ta
coovert h into Ooiu, ws indispei.a-bte nor ran tPf
experience wi.ich baa given rise to a eown.vy doc; ''
trine be deemed complete er coocutsire.. Butwiuit
eret may be toe issue of that expcr mei.t else wlnric,
Uiep- yslcal as well as the polkical situation of tbo
countiy, and in the variousdepurtmeauoliiu.'uwry,
set mi to denrive it of a..v lmixirtant influence aa' .
a precedent Jor the imitation. of the Uoitcd States. ;V
Xu cff.iinu; these general remarks to ti.e tanSHletW. "
auon of congress, it ia not intended to cor.vey en o ' ,
pillion, that the circulation of the gold and silver V
coina can at one bo renewed. - Upon mouves. of ' .
public convenieac, the -gradual atuinmchtofthat' '.,"
objeu is alone cootemplaed ; but a strong, tbuugb;
rvapecaul solicitude is felt, that (be measures adopt-
ed by the legislature should lnyarubly lecdtojts
auainmenu - .
by some of the state banks, during toe tote war s ' "'T
sad of the liberality by wnicb some el them ro' vr
actuated hi teir intercours. wih too treasury ; jut- rt?i
tice re4Uiies ah explicit ackoowlcdgmtnt.; It is ' I'
fact, however, incotaeaubly proved, tuat" these ir . .
sutudons cannot, at this tune, be successful employ-
ediofumiaitanUFaform national currency. -Tbolail-v.vr. .
ure of one attempt to associate them with that viewy vf
has already been stated. Anotoei' attempt, bytbett.' ;'
ajrencyin urculatinir treasury botes to oierounlftVi
tne iit qualities ot tti txiunge' has wily beea V"
partially successful. And a pi lecently crcpoWd, 'V,
witi) the d.stgn to Cbrtailthe issue ol bank uwtes to 'V
iix-t.'O pubha .coitiidjeoda'jui tne adnuiustraUica .xCr
the affairs of the bjlca, and to giro cat.ii baokA. 't- .
teg'ttiuaate abate in tha tmtiUuoW laaibtiVr
to receive tha aiKtjkHa.of'' a.e'.-bai.Vhe.
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eacn, bank conceive thai trcy .'owe to tbtir iram;?
diatev cotistintvnts, upoa poiirts of security or emc.
lument interpose an inauperablo obstacle touf
voluntary arrangement, upon, national coosiderauouaV '
aloue, for u.e eslablis tneniof anauooaf mcdiunr
through the. agency of tne sute banks. . Jtis, neK ;a?
vwrtneless, with the state bai ks tbat the ueasurea , "
for restoring the national currency of gold and ail-.
ver most originate f for ur.Ul their issues of paper
be reduced; their specie capitals b reinstated f r
and taeir specie operauons be commenced H ero,
wiilhe neititcr room nor empfoymehtynor.saferyii
for the iuuoduction of the precious mttJs. Tiio "'i
policy and interest of the state banks must dicre ' , ,
tore ba engaged ' the great fiacai Work, by all thtf
means w- lew the treasury can employ, or uic legis.
iauve wisdom s.all provide. . . ' . ,.''
3d. fi.e establishment of a National - Bank is re
garded aa thc best and psrliaps the ohiy adequuto '
resource 'S relieve ibe country and the governiutit
from the prisent embarrassmenu Autaorixed to
issue notes which ' will be rteceived in a:i payments ,
to the United States,' tbe.irculaUon ol its issues will t r
be co-uxtenaivd with' the union ; id there will ex ;
ist a constant demand, beating a just propomjn to
the annual amount of the daUes-end taxes to be' 4 - v
collected, independent of 0e general circuiationfclrt j
commercial and social purposes f A Natiooal-IHV'?i'ft5
wilf therefore possess themeanV and f opportu' I
itity of supplyiug a ctrcoLticg medium ol equal use iJ
and vaiue in every state aiid in every' district of eve ""'V;
ry sute. '.Eatablisbed DyVitwatitnpiy -'of the''go"f '
vernment of the Unite i States ; accredited by h?:Mr
gojreromenf to the whole amount of its notes m .eiqfJs
culation ; and etitrustcd aa ihe depositary of fn gofV
vernment with all the accumoiaubiai t lSapub.it.?i
treasui e ' the National Bank independent of risimri'
medjEirto capital, -will erjoy every recomitiebdatibii
whici.aii merit: and sec ure tha coxfidence t thec4
public ; Orgaiiiz.-d upon pHodpiescrtispotisuii
ty, bdtiof independence,1 the national bank wilt 'be ff?. 'r:
retained witiiio its legiumate sphere of acttbo wuti- Jr;
rji-t
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111
wmi
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Mi
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Ml
( out just apprehension nc.the jmscorigucttiitrC;; v. mfi;
director, orromttoncroaclimentsof Vtw'ytt''-- , ;.'
ment.. s; Krhinent to its resources, aw ioiu ekaii'CJ M ii;
pies,ine rauonai; oanx will coocuiutc, aw, aotjp..jf T;
lead, the state baiika.;.in ill Ujat is rcessary lt ibeii" f
Msraucatbf crct p tit,
ting upon oompouh iapitak partly ot stock and :
paruy oi goia ano surer tne Xviuouat . uani . wui . t
be the re'ariylristntniei.t to enhance -the: raiireteif
tbe public securities and (to! restore the currency ttf&
f--?if
the-oaiiooalcoin.
maulatn a paper medrUqr of jexcbangec will not b4'
questioned but for the introductioirbt tost mcdiuriil
there, must oe inadequate iniofive : iole motive: t
f it issuing treasury obtee , 'naslueberto itLxuii:
IT. a. . . . K . ,. .v , I mnnav in ftniiristin nf MArvi-n .I'aiM.viri au ri -!' r1.
K mn we ageAcy pt the pre- Urem, PAti r hrtJil such ; Sil"CrTTCCjit m Mm
be affected by We Various circtim-1 posed UpbA the exportatlo of tcild and silver, as ly J 7 . "
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