1 i .
-r.
fiTAIV
.iT.nr.Ne:
c IXMAT.J'
. . f ",. ol lh L JU'S a,laam
, t t . nxmA
by Ke Aitcev Or r,erl. raV.!
h t. s nt tbtprctrtl.ta v. n
lrt.f M! roryort! jri ,Cir
(wwf.nuui r. :-. Tni wat lue oeigi
.'. plw i wd oe of tnoce ws enJ
tiupe!u0icirpjity . aefer mi pre
tee'edl lf.Lepltnrf Xrtb-Ca-rwl.o.
It Imwocc avtlf ,-nttr4.
the plan of rswne and plunder. This
to jfocMt J t J i t t;t of I
(he iniuttnaB. al afierllhec
il I w dt fSe Vi-f at of
rf. - I tHifik. S-f, lh-t hefi
e r
if iiUft c1 -
, 1. 11 S 1 .... spin i- tiinnaott io ue i 4 r f.is t il
rri.eda Willi adit itttLlwo to tU nt ju-. ,,,, - ' ; if it,
ir,hta sf a'l th prnmr cm;cf e-l tt4 n a . Licj I
To toa-minioeer att 4ti t't tnjfit f t' llcv.se tin
tnllertreri it n iTtrrnttive, et'oM unction, , , 0
prou!oa j tU bliyfer tie renewi' f Let t tv see what rtl.rf ii pro
DOita,- R(MlF fWMAltil Oil bk WblCW -VldS foe th Mtpli. TV ' f
eciea, nana Carolina owo int b ate IU k a
c
u U
Will
it U In be done. Lt it be ireo
--rJa v j nl'erW,i tt chtrerj prt! lir, tUl ltheuy thit .Ai-emW ii 'dfb f 8.500,000 dollars tb Nrt eri
trkVcn out ril on jt trjir, Mr,
v i Ic u-r hUdmaHa W f:-' nr wrwinrn oj ui rnirar warn
MvarotnMocu u rvmrdr uiftinwatrt
W"t!. bJj politic with ihe prrn(
St'ript. if it tnin, nf tKa odkosa and Tit
Tfrrful f.-iiore af th - origin I plan,
1 1 1 1 f .i j -h with ttfrt and if
t'lKiioa t i ihf fntamcnii,) and fur
lit a pin'uHetara to Tirtie awi good
affile, me are imlebtrd. I furfun, a
.'..Uiroffef' North . CiriJial.
'. : on M Cafc Qdtille, i
. i , . :'''
, i.uV j.-Kea ixtweca the ico.m
Icr an 1 6ia JaMiary ImU '
". ' (Con'hiitity i
-Vtf ohrrp from 1hc fc
wJ which the U'ae li I
ta ot'ier r''n!l -hi h() at
nt times aJi!re--iiI thnT nn the
t no '' un'lcr c i Ki c ration, he
'J ho'ah'to'd lis Iicarj - with like
ece-, Indeed, from the impr
if the meiuri proposed, be h a t
!.t, hta'ai it.waa io the cion,
' I a tnembeit tnast be, thev
i , : ;1y hca anf ofl who.wUh-vi
H .mi them.,.;, lae auhject, air.
. . Jcfp nd generar iatoreatto
tiia lull amoorrt hf npr character
itellieri':'! and Grmneaa. and , to
eople at I ira, to 'tii full amonot
tuair micxtl and dnrheatlc Camiorf.
uaios t be deci JedJ air., whether.
to our trusts, w e b&U- puraue that
,e which the interet of. oUi fn
nti deipamliC" ofyteldinj; to,(h
ncia.)iona an4 ihreatt which have
.,a often 'iKutidered in oure;ira
this fliwr, nWluk froni , jha pirftV
e of iwr .datji td- pwa thia dei.
live JtW. Paaiif, lir, ar4 from
amotains to jUie ea-Hbore,i its will
t and ileploifd It la not royri
me, to discus, the aereral consti
il and legal queationa which hafe
i in thu course of former debatea.
o'.hec bUra." If the'argu roehta of
n!lema.'t from Newbi'ru hiTa fail-,
carrjr tonvictio-i home to. jhis
hrflrd him it would indeed be folly
fo attempt it; "-J ihall not there
slop to enquire whether this ipa
re can, iw direct" tiolatihn of ihe
titQtiou of , the Utiited State, f
own State; and of the repealed ue
.ns of the hiii'St JttdiciaJ trihuhala
vn to our country, pm laws f cohi
tionor ex post facto;. Iawf tola
the obligation of; tfttracr.-vNr
I ntop to erTquirer whether it.be th
as has been awertfd tbar uixin the
u 'inn of a charterv.'Hc ffa f
( y tl.e corfMratUo revert t the
'or. tlie peraonal to (be ivmij$tiiy
th rentleoaa) from" Merklenbarr. -r 1
have known him, air Ion;, and knowa
hnrj wed, and wj satisfied waa to
aound boi1rf head and heart, to -rrtpM
, ' rt or aerend bill.; Tke mea
ore finvr prated, iwya i aileat W
in-e? to the Argument of th gentleman
frro - Neuro ,y abandontna; the
principle , alnst which ho reaaoocd.
and ref'jnii4ng.aa troetho dottrioe
aomoeh declaimed ogaintt, of-the et
tinguishroent of thedebm do from and
to the banka, by. a diatoloUoa of the
charteM. ' !'. ,.. '-'.-.-;. ?"'
r llere Mr. Potter, rwe t explain-"
Mr N. rt-siwned he floor.VMr P. ob
ierreJ he owed it to hiroaelf and the
gentlemen who had assiated in framing
this bill, to ntate dittioctlyr"that.thej
retained their opinion heretoforo e
irei.'d, ihat the debt would not be
xnngaiherl,'and that the clause alio'
nel to, waa i-erted; Irom' abundant
', i n $4 retotned by observing, he tiad
Botling to do with the private opinions
or gentleman, nor had he oiaue anj al
I Union to them. ' Nor would it tie pro.
per for Mnt to do- 4 coold luok at
and nnlke, eenltemeo'a.opininnaj only
at they weie .made public- pffipertjf
political odT,yrcrnirtaUjalico are and Capo Fear Haoktene of 1 xy
nor. raaa ma wu, lastitato tlua rro- dailan; and to ti Branca Enk
tfcuh'on a to Iryally ' inaT place Ut Sutet at FayttrenJIe. a ti
these indivUlaala et the Var of jatiice,' 1O000OO0 iWlar wakir. an i
aid their rights at onee become aacrrtU irate of BnV c"ebt of 3.5OT ( O !
The kite declaanatioo to which we have We will not inquire, sir, w Ut r y
this ieuion beew compelled to often ' were compelled tsp in debt ta i
listen, will pans hj the as the id to Banka. or whether, as frermp. t'.t r
wiod. and thmg paatipa and interest, cootracted thena because ihtj c',oe a
mar clamour wiihooL (he ad. r'a ear to doi or whether, as hooett wen. thev
will nat be more deaitoan will ba those oorht to nav '.hem. but will coufirta our
of yoar Judges in liafeninj to any thing llnquirr. fWiepreaeot, ti the sources
bat tn law and the' evidence. Look-, from which the t are to derive the means
tnjto their warrant, the act wt pass, ; of makiez payment. Tho Branch of fert, hae they flowed? If oppresaion
hey will there find themtelsea diree-; the Umted Statea Bank at. Payetreville has been practised, to whose benefit has
it beta done If a trafic n their, own
notes has been indulged in to Uid dia
grace of the iuMitutiuri, and to the swel
ling of the co2Vrs of the stockholder,
a' t bt !T td hr rer i?ira.
, ,ia ti b'-a'e r N" ,H CVc'.a n
' t; al staaa I i rcicr ar tairrt.t
I! thoo f her tn.e w:.o hao ei
c v, ;a thta liuk, o iatrrttt
io i ' ' e are ! cai.r-?
"n- rant eoqsirif, hu(i
it Uciw.. ... mitt i;l I i btr
ati! .! iili.aa juani.ar.s the
paVic weal, we are oot permitted to
direard. l et It be rernilertei. that
to K'a bf North Cfi " i Stock-
'I !.r too larpr ana i any
c r ia thia Baott tht s ,c ... deri
c 1 largo pew&ta frooa it;titatherTreas
1 urer it ti lci a nembr of the ll rj
j f D' fC or;that by the rhsrter.tse las
it. -,l io ao inspection of tne t joK ev
cry i -e mooUt,eai that annually
reports are laid btfore the LejiiUtur.
If theae nefario-Jt transactions hato ta
ken place, why have thev ben permit
trd to aleep until now) If usurious
rains have beets made, into huc enf-
ted to proceed with e due renrd to the 1 thmws vert few of its notes into clrci
righto of all "parties.; VVhat-will be lition what-is their amount I know
those' rights? That tho debtor, shall not. The Slatrt Bank hat Io circulation
pay when the time agreed on has rx aomethiut under IjOOO.000 dollars, the
fired.. Sirl fcae assumed that yoor Nrwbero ami Capo-Fear Banks about) who, I ask vou, of thoa stockholders
adgee ere honest ren that haij' 530,000 dollar. . Soppoae the whole of.hjve had their''eoJer the most richlv
kMt,M m ... a. v.m. t . a.. a r i .". . m iw. . .
v ovuic Vi taw wiiimui lavort mese sums now wunin me oute t ve-lulled; . air. the cui.em oi this state no
m ? i flT.of ah tsJ T.;il ..;. "t I ul . ' I a. t . .. . ... .
not ronatnuie ine oniy i . junai who win
sit in judgtnent'upon tho transactions of
this day. The' people of the United
States are linkers on, and they will he
or ' a Section, thej' will obey thja law j ry Improbable aupposition) end tho
as far ,'ae It ' is constitutional ao to do. pie have e circulating modium of a
Are the people able to Mr Immediate
lyVhat tley owe the State Bank"? . Sir,
it it weU'known thet are not, le
people, acrdifletj official atattsments
on .yout .,MI owe tbia institut'iob
82 500 007 Ithasioclrcutatioritome
th'ragtiri.U'r Sl.O00.0OO' Suppose the
whole of tUU sum in Ibis rAlate, and. to
be appliod io the xtiflguiihtnent prti
ranfooi the cteDtiher theti, would be
left a debt of S 1 ,50d,0(jO to.be d'weharg
ed. ..And how is. thiOo be dooeB, . It
cmoot b-dpne'. v What Xhen, rr,iV the
pro
bout
lJiOOO.000' dollars with which to meet
e debt of 500.000 dollars. It is loea
, sir, in addressi'ig the houseaUle had ttatnli that tho bill vecognited
r ounlr'n & thattii e'cmrfrauef 'o7i objectaiyi thitiE itean be clearly ahown
l i 'aLl .1.1... J..1' i..t . a.
uipm) luinin. neucuisuar uvui iv l
i the com pa try, reejttinginsheo.
s'tall I enquire herh(pr the"spey:
"nn of oiTensrve sn'dt illegal acts Ofl
mrt-of the officert ot ihisklstito
! are eifeh'o$iif indi rial 1 y ascertain
ill reult in k fti'lgment 6forfei--
nf their fmnrhisef bor'ohall,. for
esentjake it forrahted that the
ers are orjTpUedthai tl(?R' jon
enccn.deTn fWowt6ateat
,ht, a jegaf.and Constitutional right,
sa the bill on.your. tableland coh
mvselftot tho"t.;hqiry?jfii 4o
1 It ha become -fashionable1 for
lemen whd addres th HoUe tip H
I-. ...I.''. i" .ii.i.fk t."-.i.
iih uui'in1M imk"iu v" "
inn thev stand to thes" ir.ntitutioos
m kholdera or deWor8,& it seema to
'.ie opinion of aome,, that 19 pnhif
their optAiooe uheuld have.uue
M;tltat , they Become tM.frurppe-
their? own-)ndependenco.'' In
.dtiee with thio pew requisition,
it me' to sav, I anV; W"atd 'tiiiet.
a stm kh J(er in he State Bank
tra I its dtbtor, a pritjipalvorao
y.f:.My name doe; not, ;.o thy
vledgc appear oponi it bofk. I
the correctnea; of the opinions pro
pounced by: toeenUemao from New ;
brrn, for it expressly provides that" the
debrtfball not beitingitihedvvThe
gntlc& ,,fim ;GrenviHe say a.-'thi1
el.ae'ec wa : inserted jVom Cabundant
mafjnn caution 'sir-ond yet -'we have
been told on - this floor - fepeatedlv by
that genlletBan, that the stockholder
in this. bank had already. derived from
their stock ni'rc thnn the lw allows--
that all "over j unjust and t!i a)h ey
ought not only,to-!oiT"at is jjo.due
iKawooi' Kai li'am m el rim n icertorrra 1 ir'o'j'
QUitituealna'.But.I sir toreturn to'
A, .... ' r j.- . -L'
ni pin h a menus uiey nave
two objeote in vievr, one ii the punish''
ment'of ' those intereked ! in the . State
Bank for tho improprietiea of their con
duet, end -the other to givevlief totjie
pebpleCWill it cfl'rctoate: either of their
'ef, than that which pertaintto he
cititen of the country .Iam'uqt,
the apologist pf- thio bank. I be-'
e its offtirs -haw IiieeB "Cfeatiy mis '
ed-that its offif.err:liavefrrpr;
n measures disreputable .to them
S injunout to the character of the
. nd oppressive to its ifealers I
't its advocate to. show that.the
PTOphuned of are not forbidden by
"rtcr, w ere necessary to the dafety
' institution, and. not injuriniis
oiamunity at large , am here,
as the representative of a portion
e s ivereinty of tliia sta.t?; end af
ilvorate for the people at large; 1
"vt 8olemnlywarn gentlemen ol
remeodauo ro.saUa of the bill opon
table- r 1 ica..d. into'a 4awnd do
: earn- -)j 1 -.eexh theifn t't''r
'. fury ; this' bankr'o't',-tO
"is'it 1 t is due'to the citizens
eS'a t v "1 be 'recollected,
hat the 1 '.1 now tinder considera
' 1 ewnt"u'ly d'SVrent from"-- the
"'tally proposed by the pent'e
' 1 Granville. ' By that plan,
'vs wi re tii bo plunW-1 of all
I
1 f
li'iii f
I. ii'n
itv i.l cverv sriN..
c "scsted t.i the u- ; f
t corporator in.earh i 1
e (uallv an-iwora'!?. in
,", f. r every act I
und oprt$fciou . Jxjy
, ' .
rt wfll ,dp neither; e-Tber firat wtyect j
the;-ponisSmen of "the banks.v? Let Oc
see how far; and in what way If w rkt
this end.rVe have been toli nfficiaHy
origins floor; .that the bank is eolvOoti
arid Only so" 'through the solvency of
its-debtors -end the ability of ita debt i
ora , to meet their engagements at the
b'.'vt'kY reals tiport the indulgence whidi
may bfr Itvtided ,o. ffieim iPAnd.
haym kea'rdi day aftefe daVvthat ; therf
ia in the seinin try one; general tlamocr
agattiat ttiis.iiismoiion fnparHuiar-.
that U is ot!Hus;a d sin jve bavctoand
thap.tio ,devotio to ptiblhr.-erv!f eiio
wriiwancy m;xaipni nr pnruy ,!, 111 e amq
njomfsre ; Sufficient "ta protetti the
indivirluHli connerlcd witti it. however
jnnecenf of , the nbnosirtos act cn
ptftiped-.c.ViVm ti of juiblic ronfif
dence tvor shield -diem -from gros iii
i,rl u ii ortr-?$.i jr Jthis so1iuin'; and la
mour.doeifxist, and ihe State Bank
officer canflotbelgtioriint of it. Bv.a
pnWic report,' hov have proclaiaiedJo
the world.that.:1heir stock yields them
little or" nrofi: tbit; It, wuld' be
tpuch bctterl f l vach one to; have , the
maniigeoienttif h'n own money -thai jt
therefore no other interest "io this is due (othemiitlves and Io their debt-
nn, 10 rx'gin ,11 w'"" up --yieir anuri,
and thev have" given public nuiice that
they will calf W tKelr debts at one tenth
of t.h? whole, every nii.ety days.' This
feorutieri,'itv f ffrnttot 1ut think.in
judicious and ill tiinert. l It has incrca-
geT the fears' and discontents if the
f.omuiumtv, and -a general inabilify; to
comply witHltfejopd -.'fxpreowd
and 'we'Kave. bw'nerieaiedlytolil h
utir duty to interfet e and to prevent "the
exrruflon of this ilcstructiveniesMiire.
And. sircvt hst -doesihis; bill 'propose?
Monstrous as i.t may appear, " actuauy
compels the f lt;e Uhcr, to collect the
whole of the debts due this institution
tmmediate,fyr:and, to distribute tuetn
among ; the stockholders 'eftd thereby
ruio the commnnity, "or to give induf
geoce": tot (he" 'debtors, and guarantee
their aolvency to the batik. tnii the
fact, sirjor s it iwi ' I be gentlemen
to take up.tliot)il.(ad accompany me
while! read t1c second nection. Nr.
Nash here read, tlie 2d, section.) By
thia etiiii. unun a" luilrrment of for
feimre being endrreC .nd I " taking
it for granted, ir, tliRt the gentlemen
reporting .this bill ore. t 0 irofotinilly
versed in the cnsiimiion anJ laws .tA
Ihpie enu'rifrv. ;,A -'with ti e evidence
Ls. r.i c t!- .-t.i.
BTiuenr, mai ume io inrta it an imnor- timpartui judges ana it there Do ins.
tant tim, Sir, time to thtn is life,! grace, much. I fear. It will not all h?
liberty, independence.- Vttti them, found adhering to the skirts of the JW.k.
and you destroy thenv-they cannot pay To the people at Urge, this bill is dot p
this immense, debt If immediately call- ly important; .The revenue of the State
ed in. Does-this bill giveUem time? is about gl?0.000t half this torn is de
Does" if postpono the day of payment?iKr from the' Banks, either in the
Des it provide for the renewal , of the ishape of taxes or dividends accruing to
notes of debtors? Docs it provide who the gite. as a stockholder. to tUij
thai! renew them to .Whom thev shall State Rink we hive stock to the amount
lb ttiade riftVaM and wWire? Itiwa' it -nf '1 Cirin n,l in k ntkav Itnlra In
C(msCQUeUcrP-fnat in fWclvJniin?K Snp.rpstttt th mi-Mr. nf mvmnn If ca K w.t ..f 1Q1 C,rn T1. Kill Kn.
after the passage,of this bill info a la w.-f in whaf part of the bill is the provision fore us, we are told, is the commence -
the real 'property-now- owned, by the to bft found? If then tt neither increases mebt f a avstem which nronosca the
debtors of i,i his Institution, together Nhe means by .which the people are to dest-rfctiori of alt for the report of tho
wuii .turn - juiuiHircrjKjrsouaiue rnauicu io pay tnejr nents, nor pro-, minority ol toe uanltcortjmittee assumes,
property.!. will I .have passed into the longs the dav 1 of navment. ,1 beseech that all h ae sinned, and bv the.ir reo
hands oj.these lordly Htocklmlderr. us igentleinen to Dointout in what the re.. Ijtion ihe .nrnniKn th aama nuo'uth.
they: are? termed,. jThis mJl be the I.Hef consists,' There is.'Sir. noihing in ment for alt liie destruction of the
Cae, forjhey wilj bi, the only bidders the bill carrying relief to the people? on Banks, or of "tUher of them, involves
ihore wiJI be. pone others iD.mckt4 the jontrary,it Carrie awift dehtruc- necessarily tho loss of that portion of
DUI. OIF, SUPQW8C-VOUC JUUZea nOV 10 lion. . ' . ' .-; . - i- . ... .v'., ,-ith cntl dnw illa fmrn Ihnt nflr.
be honest; men suppose them" regard-,! r", 'One more remarkVpnn this part of'the ticnlar source and of course we . must,
i.ici. iMuvmi uui.iMi iw gmiii ,u r;cr.i, nmi a win leave itiy tsuppose, in oraer io supply tne ueuciency, re-
otiMo pass, and suppose the slock . sort either tt loan pr. tase-nnd ulti-
notes uue tne insntuiion, oroy ret ihoirtdrs ot;the State o be unwilling to , mstely the taiea must bo irainod.
ting themselvea ;mto a, Dunking Con-: t trust , the;, commissioner Whom vonH What is lost to the ri!venna bv the des-
cern,ond rentwing the'notea eodoe. jJudgea maf appoint-hi! ;iesponibili- tructionorthe Banks, must be paid by
iiti a. ,. iLrff i a s i. ii t "iae.. . . . . a . "
nit, in uia rset wnum ue me reuur lies wui do immenser ur suppose them the peoDlo mit' ol their own pocket
The Btate of Nrt Carolina, by every
principle m junior, nu jusuce, wuum
be i bound t. ,garantee to:.)heriStavte
oana: tne soivencv ouis aeoiorst'; Jiet
it be recollected that the State' Bank if
noparty to otir'act'--her consent js nei;
ther;.sked for - nor"1 permitted. Your
Judges) knd Comrntssioners are; ''. your
ageo.ts.over hpae i acts thr Bank
ban no control!' vfVis 4'' ;X",'it
If, then, by their improper conduct,
either with or without your sanction,' n
i - . -::.;..' -.I.JL. :'!.- 1"--
loss accrues, upon wonm is titaj. iosb io
fllljfBy tHo.cIearesf principle of jui'r
tk e and of law., upon. the party appoint
ing. We.wiHawppnse case. A. and
Btare partuera in trade, and by the'at
ticles of agreement it ia provided, that
upon!" f Biswiolution of the copartner
ship, A. sonii winq upna seuie, nie
buainess.: A dissolution does Uke placed and aiie 'ty'Ida individual nimeiv-; Wh:'o t notinQicfont Ww, '.withou t . inflicting
- -.-u pcjvm ,115, w.ra mc icii-iu unit upon yourseu anozf.u. nui, sir. again,
Supjxise an action brought by the Bank it is not alone through, their public pro
r under c those circumstances:, where .'pert and taxation that this measure is
would, the debtor go" for relil? To a tur rea tVa - people and be felt', by
ChanceRorfai"'wpuld.;VIIinf.
ewer of a Chancellor to" an apptic&iion ! The history of every civilized hation
for an injunction.' upon the ground tliat;haV. taught. us that it is'ilangerous to
theBank: had forfeited "ita- charter. tamner with die cireulatlno mixiinm.
snd4hai procesa tiad issued, end watnd all violent itieasurei witli respect
and A.,eppointa C. his.ogent to collect
thf deoisand by iiis peg'igence or irr.
properoondot't, debts sre lost -upui'i
wiittn f the m ttrfaH?,-? Shall Q'.wVo
hd;Yin agency jp, appointing him, end
tO-whomToia HO occouhtable, be Iur-the.-TJ
willa. share of the loss, or shall
AT Sear the- Whole?", "Most clearly- A,
kuflll beaf jhj? ;whbte,l Atid will it be
pretended ' thatthe State it not bound
by he, tame principle! of justice which
bind het citi7.en?.-.-Vill she take bf
violence an i, - with ; the strong han,!
C ora one ol her citizens the management
of hi own business, ontrq si it'to an
gent of her Own appointment, and then
refuse.' to make good any loss that may;
through his negligence, be sustained?
And if she would not clo' tHie iniquify
to a single one; wiirsheTdo H to.tnan'y?
This, then Sir ;W'tlte' .mode, of "po
ishment ; which Hs ; proposal - by- iheie
"er.tlemen for' the; State'. Bank, 1 .Yop'
relieve -them from oil the additional o ;
diuiri which the collection. of their deb
will accumulate .-upon them, and khid
Iv ftake; if ;poni yoursowo slioudrrs
They are '.'willing toy give their debtors
two'and alialf yearsto pay v'Yoa on
dertake to collect for them what ia due
immediately, or tb stand bctwee'iv..ibem
and all ipsa Jroov oiay ?nicnMeciing.
H , tMs; LegtiilatBrer prepared, Ho. adopt
it? ' hl'nfK' by, one mode, of procedure;
t'ti-do effectually rpio the Bank es an
Utltitution, but tB a, mode that makes
the heart sick to contemplate the first
victim'a tnost be, if debtors, .' By the j
oibevyott pledge to. the Bank 'the faith .
or the. State to make good its debts, f 1
ask agaio.' Sir, are gentlemen prepared
to take either utandr . I declare,.
unwillinar to trust the'nledired faith of Are we nrenneeil t throw ihia nil,!
. c - i r . , " - r -r -
the fctate to make good hia defalcationi, tional burthen upon them, nd are tin
ortho solvency of their debtorsy ,Taf people prepared o meet and bear it?
laur. oi ineotate nas uetore this, f air, pats tint bill, & yoo destroy at a stroke
uccu put. nv iiutaiu, hj pomirai quacaa, jj,ouu or productive property 08
Aod eupposejrJhe "judicial nauirv to lonzinff' tolhe nennle- Have' we ;
passv through) the oeveral tribunal to right to do ; it? And we' strike from the
whose jurisdiction jt may be subjected revenue from 30,000, to 840.000, which
'r considerable 'length bftimeimust'must bo drawn from the pockets of : the
oiapse ueiore m nnaiaecision ran ne nan. farmers ol tne country." mey must pav
What course cao or will the Bank puritand yet.we are told the object of ihi'i
suerio the mean time? jlt j. impwtill isjo relieve Ihe people we relieve
We: for me to tay what course they iff themVy doubling their taxe' Wheri!
pursuef-but ' 1 4 can ' readjfy perceive; is your literary ; fund your foml ? for
what course they tan pursue, air. They jnferoal improvement? . Ml - invested
can shtit up their, doors and refuse to in the stock of theselnstitutions yoiu
renew the .paper of their debtora,' arid University all all f be sacrificed to
commencvan immediate collections or bliod fury ngaiost. individuals, whom
they may divide among themsel vet tbejr -y o'u cantibt reach Vbutj atXn "expense
stocn oi norea, ana eacti take his share. Hearral to look at dpon whom you car.
tben pending to repeal it? ' It would be.
that as ion? as the Charter wts unre
pealed,' the ' corporation could :not be
' -1 3 f It":,
ts C it.
..-( law of ::', ,
o I ' a. .r,wa a-a'.l r-r
'f I'-llUrt i' r!:
t ' f i ' - ' . . a . 1
l.V e a ii r ' rn -. .
r1 !-.! '. te I t fM
fur '.rl C C- lUift Set,, j
of u -l.c creJ.t. mill ten
fu ibtir debts. Iery rr
tl.em will be ileroin.li !.
mill be coerced, not h
'at, btlia gotJ a- '
ies money. T
C !l upon hit (' ' , : ,
in l' t Which l r
l.irai..r. The . . ' t
if r-oivu'e. mmt t-
r r
i
through the a
to hint and t' ..
throogh all the I,
nuny haid laL ur
irs in winch
iw, at thU i
fron miiki t,
year's toil in -
money ha' f 1
Stt'e'Tan; ;
home, flulp
ging their i
blackiiniih-
is leyied on
. t
of
rs will be
m . -nt nothing
e cnnnoi com.
.a
t - (T.t
r ( f t'.,c
U..::ei
t ri:U-t
If f ti J
tj tree
rrcl.mt
him-clf
3 i indt otrd
itjin will run
ocietv. Fir.
" n n from theco'jn
u and 1 live, are
nt, an their return
i a proceeds of thrir
r pockets. In mhat
y bren pak!?' In jour
r. They are ' irrying
h the hope ol o.schar.
' ant accounts their
P. thaps an execution
r nronertv. and time
has ben given i t their produce to
marknt. I he return, sir, to lind their
honest hope -'cl. They are tot J
this bill has p 1, and their ' s k pa.
per is worthle -ihpymuit pmcuie the
g'lM and silver, or Fnit-il Stac r oney.
In bitterness of I ut. they m i curse
the folly and ;- ',; "nr, which has
wrought their i :n. lxc ',tU;ns will
b, turned loose.
iHrvcted to recei . i
but that which the
tnanu, and the poor w be !iMivered s
over to the rich, bnunJ hand and foot
in twelve mosiths a revolution will
have been oroduced never befora wit. ,
nessed in any country in the same spr ;
of time,' Property, Sir, will I. d
cnaiiT"a. nanus. i, i ncn can go to
Peter ! urg.'.Ilichmos I, Philadelphia, '
I'uri'ni, vimursi i, aim ineieDy
their property.' and t' ir credit, pro-
LyiB IIICL',! Ull U lllll . lllff" niHir , ,1 M ,1
O - - ........
cannot.', North-Carol!;, i will c-ea-a tovl
be a country in which a r ran can1
live, or if hedoes remain, ir u.'.ILa as ,
a si'rv.nt to t!ie wealthy. , t"ir, in v
a ' : t time. t!.n l.ardv rr :.rv i f fho
' J J J " :
Plllinlrv li'i ..n w ft I .. , , , .
dent owners cf the goi!, ; ' " t' ey rc
main in the land ilu-Y Liit i, i tuit'j:
into vassals ai.J li -n.nt tc:, -. .
; Sir, it may te said that t! :iii ; t!,f .
forcboiiingi of a disturbed i... ;.
It may be go let q--.;lemen, I. -r, .
recollect what is Lucy to-day m,iy-a- ;
come history to-morrow,. Viil any ;
gclc;;ian say. that the r.Jtt will ,
not , How from the ir i .ijr f i'ojHi-r j,' .
and if they . -an. -! i we v cat tire its.'.'t
Wirhout theprotni any good, tih 'l
we, or the idle pu of ve
t a " i ''
riK these u eini-nuom co-kc
-if . . . i
vengeance, -.Mr! f t u;, , i
Upon tlieorphaii naA i !n wi
all is invested in the "
da'lj bread dep.- , ,n
thy derive from tin ir d,.
JO-'
w honi?
. .. ,, i.
ftre guiltjess in tho
k',hr j .
ii ifi'M acts i
.r, i.a-i your b.'l.
e ' ,
he?
disturbed in the enjoyment of , the legal
rights existing under it, .except, for e-
quities growing ot of the contract
and that if the chaher were . .vacated,
the Bank was working no injury to its
debtor, for the State would be bound to
collect for the benefit of the atoekhol
ders but suppose it alleged, that by
the 3d section of the bill, the Bank is
restrained from transferring its evi
dence of debt.v .You 'would wbe told
that no niao, nor set of men; in this
country, can be legal ly punished for of
ftnets until thcexistence of the oR'ence
is rflfgalljr 8certained that , until the
judgment '. of -the ..Court pronounced
them guilty, the Vnvt deemed them in
nocentj yand that is not the province of
this Legislature to adjudge the cuge,
dr: inflict the; punishme'nt.;' In every
point of yiew,'!,then, sir, in which".! can
consider this1: bill I. cannot perceive
.that it in any respect answers the ob-;
jects of its-dvocates;".To my appre
hension, it is but a compound of absurd
ity. "-"!'- ?'-',Avv''''i'.''-,
I have thus far,; sir, confined ray re
marks upon thai bill befiH-e. yetnto the
eflVcts which lit'is cafcufated to have
toiff operate to the injury of the com
munity at. large, and particularly- of
that portion least capable nt bearing" it
I mean the poor. I have already
mentioned that the people aiv indebted
to these institutions Io the amount of
85,500,000, and that they have in cir
culation about 81,500,000, which con
stitutea pearly the whole of . the circu
latins medium of the. countrv nass
tbia bilL.'end, you at once strike, out of
existence, as to any uielul purpos8-fhe
whole mass of the State Bank paper,
leaving to the people but about g530 onn
of Newbern and Capc-Fcar note, with
which to, make payment to the Kar !:s,
and answer the ordinary expenses to
which -ery man ia liable. At t!.e
meeting of the Lepalature, Slate Bank
paper was at discount but of 112
per, cent, since the commencement cf
this discussion, itfiaa junk to ten. ,T1 e
pledge contained in this bill on the t
of the State to make it gobd, can.-iot
support it the faith'of tlie State I
been alwavsnledzed for its re.lemHio .
To my appre Kud yet it has at times sunk to ten : 1
ntteen -per. cent, before this. In ;.i-c
years iifier the paper money of ;7
emitted, for the redemption of ',
the laith ol the Mate was rlcil i;
gunk 800 for one 1; and in the year
I declare if I; on the -State. Bank, end those immcdi-j.82. if was by a public act of the Le
at i. j.' li..l. J : 1 i . i . Itl ..--. .'-
urc atocKiiohicr in -inis .uaiiKv nnu i ateiy cptMieciea wunit, as ut'Oiors. is ejguture ica.eu at that rati?. Kir the
:i il - ..it . . j - . '
the
sk'
is .-e t
i,ot to know wtiVt vi.l te
i f tl:e Court toinnus
v "oiiitcd, bo;edufy
ciu(ijfclose : inyXvcs to the" merciless
ruin which this measured if t adopted,
will bring upon the community. I would
imtiJediar'ely propose that the Presidont,
as ooo as the procesCJas- sen vi up
10U W r ' our'
this the only, or the most importatit vieur paper of the State Bank will, from rise
which is to be taken of ii? An: these naaaafft of this till. res : In ho i,f in.
the only individuals, V tlie only inteivivalue except in paying deb's to that io'
ests.tubeafi'ectcd by this biilHpastin- sfifution." But. Sir. C.iaia nni ntl tl.
lo a law?' Far, very far from it ' By evil the f.hork trt fli mihlir prmlir
I pur? neatly nil the gentlemen who have pre -t' will be stirh, that the paper of the . ther
have, ceded me .in this i debate,, the subject has Banks wUI cease to art rSrrnUfin--
.aijH'ng . us.f been discussc'd. ea if tliese insututiocs medium, and the little that is now afloat""
j I . ; . . aL -I- I'i . . .1... .... . ' . .'
lately
on I uo t iiou , i i,i"- oUr- , mr ,. neariy an tne genuemen wno nave pre-; w ill DC vm ii, titat the paper of the .
ret.der tho'charrc !!! liave, ceded rnejq ihis debate,, the subjecthas Banks wijl cease to art a a 'circu'
il- ' ure, . among'. u .been discussed, as if tliese institutions medium, and the little that isnow a
r i t:-crlr m ' ct." pleasnreaD their creditors were . the pert ens -will hv: tbqs Banks' - be k !i
tnSin of tin
1 - r .
pi, its, -..,r, i your li.:i. a.
the" strong mm i i hii 1 I t.,
win Spread an. I v 1 1 i ,
ove'rwelining a!. lie the inru.c i.t and the -guilty,
and throu;!, out y, jr tor.'.:
Will be heard tut one voice, t! :t tf la- '.'
mentation and woe! ' ::"
,sKmSi '-- "
i..r WW--. t ,. . . . .....
f l.llbltL3ll,Ml JN 3 1 VI".
Some we-ks g the II v . ,i . ' I
ri in the beginning of the nresent'vrar' I
kindly olaced innur K i . .. i . .
read ft uiili munh i.iiAA. .-.:. .a.
miimitTary Diacouisc- on the United i . V '
of one hundred pages, and theaccon t i l l', - v
eenaion of Louiaioiato our covtiinnf
winch occupies "the tecoml part" of t
Toiume. una account struck in mm t i.
fimia tA l,n,r,tan f.. - ,
that we have caused ti abstract of it to te '
maac in F.uH'ihIi. mil i. .1 - -'
mcrninj-. I -be Marbois, the author, waa the
negotiator f.r Ih.poleon, and p, curved in .'-
hit mc-inoi .turns, whatever waa s,A or done '
on the ! Vr ir,. . .,
r . " , -- J J il'-rc
fore be i.ceme-t Hy . authentic:- The
woildiafor the ? -'-no.tiree-'tf ..R-, ..-l ;i
what were the u.-.tn'.iiii.-.tive r- ves ct the ' '
First Consul in . pianiii.-t i -i r , jinnn "r
territory in question, an. I f t I t r-v wn, ! "
unny niiinonaot li-aocs, or b i r,. . . 1 fjol- - -lars
less than that whu:ii we r ,ve. H maite .'.
anovvatuableacquiaion.lie park-,1 wMi that'U
whjch he knew he could not aecurr, ; t the
tditlon of which to our rvsonreea l- r "aid- "
i lashUtly to prove both r.wt r'a-.d
t- -i-.meiital to tlreat Critain. I'. : coiil,:jor- 5 -
i n in ikcc aa so much r.- .tcd t,-m !,, r, and
confronted to the stren-th of her ,t ire ' '
1111. t ).,' ,; y,-,. rH-ul. Toe fact is remark-'"t".
ed thiit he ,; i only the close ofc . . .
- pr declare a forioal ruf). . V
if Amiens rJ'ul. Gax. : 7
I ' ' -n A', nnal Cxette.' ,
I,;-' IT!! ;.-rva 1
., ... 1 . :. "e . -r
1 - 1 01 in".
' '"' ' I Statci,' '
' i liar. ' ' -..
. :' 1. 0 1
Ci
1 i...
turn, i
cone- -
Li-: t
1
1
,.nit
! !
e t
Sla -tufa:
Wiis aiipurcnl t i ! : -
Of lift.- !,,;'.',' I the
IheniM J-.-cs r, ,s ,F Hint 1
of war, by rma , Vf ttii- I ,
meia stii!ion' iu its icin:
other wes-rvii i-' 1 v bii li 1
uialiMllir i 1 , m ,"t to 1
liiiccii then !,,, ,)t' . ....
HITV-inp it, ,1 I f .-.'i:;,, :ii cl. i:t ti,
great jrpo.-T;-i tr jrcvent tho I
i
Co
1
i-
'