;1
it a
V, tIAT DO, 'YE WVE rott, CUT TO IJII'ItOYlJ OChsCUVCH ASD DU L'SCrDL TO ONE Alf OTHER ?
.1
r
VOLUME III.
PUBLISHED WEEKLY:
;' ' i 7 BT'V.' -J'
,v -..'..rTi.iiMs.'..
Two Dollars per annum, in ndvarcui
or nice Jjniiars, it not pan! within
three months from tl;3 date of the
frtt number received. . . . ,
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discretion of iho Editor.
A failure to order a discontinuance be.
fore the ex iration of the subscrip
jmn year, is equivalent to a new
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d than for a square.
Court Odrs ami iudieial advrrtiv
mcati will he rhargi! i U. crnt Ugh
r; (wc sometimes have to wail so long
,for the pay.)
Thoij who cdrcr'ic ry the year will
c entitled to a deduction of SIJ n.r cent
roriJed they fay in advance
biC- IILACIII-IIS t'UXULAU
o the Freemen of the Tenth Congrc.
fional Dutrtct id .north Carolina,
- cc:r-wed of ths counties of Chatham,
Randolph, l)avidon, - Rowan and
Davie. . ,T . . .
tVatMngton, March 0, 1630.
fchotil after lha J close of General
K-son't tid.tnmstrntli tlA' joo-tj of
i uciary da ts:cr in thj rtj.'nioa of t
jrie jra'vrriints by the bankti aa event
1
war reasonably- ajiticinatcd from " the
Iicy of that admintration. . ln tho1?,3 ,CXIn, 6ess:o.n ! V15"' AwCm"
removal of ti e . ruLlic n.one v fr!,m ih ! m,l"i'r 8.Ur 1 CCu!iar c,rrU? stnnccs'
JirkofthelVifcdStntc,, in lb3:j, now llv fit'"" treason toexfect
!JnSt
to meet, as it was said, f!,e want,
f ib3 people. This . ,8de ,l.e
rnis of rcce v n? I ha n-o nfni Tii-iio.fr 1
f the pnUic moncv ; aad. but fc were
!l.ued titJovemmenttfl ft,ti who
d nut ronscnt to these tcrir.t. The
....
'.r'ienrc of this was a lar,9 lucre at
i nundr of hnritjt, nnd a
"cattr iVtcaa in tJic anutuut of bank
i:alanl bunk Utucat (or, bsf il re
i' t tcred, that, durinr the edminUira
el .('ttral JackK-n. tcore utc
ef Central JacLort, tl:erc .were,
-rotanU created than bad been crca-
i r-n S I i r T T un''Atn: ' -
t,.,t t.B..- ..." .i ' i ...
'cy pave oitt i to i!j)' ; ate of uiii'H. ,
H.c 'Citable cnn,,tj:ierru(i ib! en ai
"."M.m .if .i n... .... . '....,. I. . .1. .. . I I
nvcrtradiit'-in Mm vnufAiv - f.-.r .
tul lllnitrn. ...... I... . .1. . . . i
jWof thii cx:riio:diinry iiMrea. i
1(5 'Ru.iJr of bat.ls a;.d tlie amount i
-- Vint Lt.u. nuu.rui
in i
of
1 SPECIF, CIRCULAR.
Tc nore i nnicdi3c enws if the sOs
"fMynof s;riap.iynKnfs bv flu? ImiiL-,
i"."11- "p-'cierircnLr i.su-d bv Gencr.
1 J'f-Uui j,, 1MB. rtwiirin-i all Mt.
. , '"r public hiirJsti.' la rnrtda jn
1J silver, Ttii hvovved .dj.Tt if
" nie'isure was to check tho t.x t'f
""illation jjiid curtail bank crcdii.
fW fur M.t.tto i i. ... I... .-".ii
III! I fiinr,,., I ..i?'. , . . i
c-'r,dt.,...0 in. ihuhe instituiiotiH, and
a g.Mi,T; nn upon them for the
'''JuinetaU'- Uy a hw of Cofigre..
vi in lHin,-i public docs were re
to bo pail inp,j,j ao ;iver,or
w -Wcs cj yiyfo., failt. : At
rat tip to that permd. The rv at.-ve ,..,;, r,
vmU i n Itaus cd 1 re;$:ry
...... . . . r .. . iiiHii.k'u. it ever.
if w ii-n mm naitri-t n -ws 1 1 ai
i . u iiiuuii u a i ii .it.: i iiiii 1 1 1
'as a wil t n. i
1U .J LtT.ilV t....iii.l
i'ionnn.1 Vr ' V ;" V.J wao loM I hev bad no rrjhl ex
?i ? lhdr -!jcrl rehef from Oon.ro,,. -fl-a hand
W t, W 7 ? ; .rC' ,,,r " ,,!0?R J tau.Tfic.rd; m the r piiuun of the pn-iS-.Ml,e
P"-" )', Jroti':cid thu BUi'menin-' t , w : rt., , t ' . r .
. Vi ,v iHiii i.n; uv . ...i .t.... i . i. . n .
1 IM' . I . 1.1. 1 . , .. . ., .1 .. IIIII j I ' ' ' - '
uie session 01 yongrt-ssimmeaiaiy pre- two rnrtsi tint, it requires all public t pcrtnanent cstabiisUicnt of such a svg t
....... ...... ..,. v,,u. VMV, ,v pM 4., Ullt M1JU ouul f M.MIUHI. ii.u iiiiiiioiis nireauy lost to inei lions, js
gr, a-rcsiuuctt-wyi subiniued to the condJy, the money hcn so collected", j Government' is but' the beginning of e- for ihe
oumie, requiring puouc nnas to i-e paid w to be placed in lite c0sVfly and sale- yil. i :
Iutitn was rejected bv almost a imani
mous vote of the Senate. But nutwith-
siacdinj an existing law to the contra- these propositions "(or them to receive
TV. .and a stR ir? L'Xnrcssion of i rmlrnr'.rtniiiniiiin frum inrv nmn i.r(l.iu
I I. ' ' . . i
oiuhcii oi L,ongrc). ngainsi any cnangc
iii iiihi mh i jt'siutiii tiMi:iit:u uie
rc-nonsilfilitv. and issued an order re
quiring the receivers' of public lands to
receive nothing in payment thereof ex
ccpl fold and silver. This older caine
li!ie a clap of thunder in the midst of a
Hear ky. These banks bud been
brought into existence by friends of he
ud.i.mihtratioii, and had been stimulated
l over ijfsues bv their advice und' en
couragemcnl. Tha banka felt tlia blow,
bH the peiphi felt it more deeply. Trade
and buii!css of every kind was para I-zed.-
S r!ts:istr'us ws this riler up.
on ti e intertst of every portion of the
cmrry, that a bill was passed at the
next acsMun of Congress, by overwhcl
ining tr.ajorities in botli branches, re
sc-nding this Executive order. Dut the
XVesiden', rcgardlciis of the wi.l of the
reprcsenia.ives of the people, refused
eii.'icr to i :ga i!. or return it to Congress
with bis realms for rcfa-ing, as required
by the coi stitution." 1 he embarrass
ments of tl(c country and Ihe dcrurgo
fimA of-tlte ct;rrenY inrrtatscd ttv?ry
day, until tin May Allowing, when the
banks . were compelled to suspend specie
payments. Thu the State batik eys
Icm, which had Wen very unwisely; in
my .'opinion, 'nthttirijied by the odminis
tration as the fiscal a sent of the Govern
ment h i l ice of the Hank i f ti e Uniicd
J?htc, r.nd which we, were promised
was to turiusti in w r.h a better curren
cy than even that iiwtituiiun had don?,
cxr.lodcd, loaviog ibe Government in
tian& rupicy. and ilie f4-plc dircr hulim-d
M,j Ur.exa:ni.kd i-ctuiiiari endarriss-
meat. f -
THE SUD-TREASURY.
In the midst of this renerat ealamitv.
iMr. A'iin Eitrca Jhouj-JiLproper to call
n Bf ,n U1C curr,t:!7. v u? lliJSU
U, rw. and fnch had jon re
M v " m-.."....
" T mZ i!a.,re rt0!craM a
f- n r In ny
1 1 it li n: i r iiiit-'ifc iir i'i rr: fn. riR
ihi ohvi .tui jHIicy vas lo retrace our
hti-ji-S at:d rtUiin to that m stem i f nd
mini.'1, rut ion wh'ch hnd bwn tried, ar?tl
iiH'nd by experience- in. work we!. Tie
fcXjvniiiiures of Hie Ctovernnieni, which,
1,1 I. i r. ... ... fl.... I.,.. .. I.. Ik.
- . ? . ...
i ,;.ave
ouu tin; uii,iiii!iMiail'ri
tfnt cronoirv which it
V .c
ssed, and which its ex-
now aWluici? de
theii was the tunc to
Ired.'cm lhe'iit csises of rutrcn'J.maiU
aatciilv n,adcV but t,Hf hml feu
"'r ' wiaiw.Miy
. FT - .j .
, 1 Ji'r W11"1
vcr,
oent
no..ij of rclortn ; and the siitU'rin pec
Ui""'tu 4
.Simply to relievo the Cov
ad its oucers. The fourth
v " V...V.V..J. ..v avu..-.
.1 .,... i . I .
w;ii to havo been divided amoni the
States, was pof tpi:.cd an empty Treas
ury was iTjJcrtiih-jd by tho tsvuo of ten
millions of Treasury notes and Con
grehs were invited by tho iVitsidcnl to
luo-hiin i ho tiiijre. custody and conirol
id' the jiuhiic money, by iho establish
mt til id what is termed the Sub-Trensu-
ry y$tein.. Ihcse -were the .loading
fnoasi rcs' of ihoidniitiifetration. The
two' first J were odoptr-d by Congrc.
t.'ioti g'i without my fconcurrence, fr
ry v$tem. . These -were the
reason: which were Uubuiit ted at the
lime. ; Tho Lst has beci twice adopted
by, the Senate, but asoJum rejected in
iho llouso of iUproscntaUves., To this
system I piopoMi to invite yuuf careful
ror.sM 'huioii.
vuiji, u.vu, vu wiii nK, vviis ."fj'zit'ss
Tha sub-itcasuryvitcin consists cf'aru melaaifliu!y wurngr -against tho
ASitKBOIJO', (AV.;c.) FRIDAY, A Pill
Presitk nt. and reinoi cable at hi will.
It seems to me un.lv necessary to state
.r. . V: .i . .
In - ... . . J .
ioi ins rigutsaiia determined to maintain
iiierj .
The revenue of tho Federal Govern
ment must he equal, at least, to its ex
penditures, which "now exceed thirty
millions of dollars. It is proposed that
this la r ere amount shall be raid in sold
and silver; and nothing else and let me
ask whether this can be done without a
great sacrifice tr? the commerce and bu
siness of the country T ' The Hjwcie cir
cnlar, which wrought such disastrous
consequences, required pubtic lands only
to he paid for in gold and silver; and
what was its efiect upon that source of
oiir revenue! It, reduced it from up
wards of twenty millions in 1S35 and
16.)0, to less than an average of five
mil!i5ns in 1637 and IS39. Congress
repealed that circular in 1838, which
lea the way to the resumption of specie
payments by the banks during (he last
summer; to the restoration of 'public
cr,fidenre an't the re via I of cbmnicn e
and the business of the country.. The
sub treafury system proposes, in eCecr,
to re nact iheupccie-circular, and to
exfen J its obnoxious provisions.'1 It rc
mires all our jrublic din's, whether ari
sing from our public Jand, or from . im
ported goods, or from direct taxes, lo be
paid in go'd and silver. Are you pre
pared for such a system I Chr Gunty
aud State fix is, comparatively, a small
one; but if our legislature were to re
cmirc il to be paid in gold and silver, I
dordit very much . whejer you would
submit to the oppression of such a law.
And yet, if die principle be good in the
one case, it yis equally so In the "other J
if correct in relation to the la rrs. amount
of . revenue colieclcd by ' the . Federal
uovt'i niiicm, u oium oc to ju ri'iiNon to
the small a -noun t collected by the States.
By the law of 1810, all . public dues
are requested to bo paid iti gold and sil
ver, or the notes ot specie pa vinsr banks.
Every administration, since that time,
has "pracltscdrcnd 'pr'ac'Iied'succcfii'fiil"
i " .1,1 " r . . i
iy, upon mis law. iiayiu inea me
systdti, and found it to work well, why
give it up for another cxjeri.nent npou
the currency, when all our experiments
have so signally failed I Is the servant
heller than his master I ' or, is thu Pres.
idut and. his ollir-crs entitled to he paid
in a better currency than . that which u
um:J by tho peopl I - Awl ycl tliii suU
treasury system does provide g. U lor
the Government, whilj" it leaves the
people, lo, the uso ofpapsr mouey. .
lji;l a have become, lo some extent a
rcccssary evil; and i have shown that
this evil lias been greatly augmented by
thnsQ now hi t ower. : No one Mrtcnds
that we cert da without kauk-papt in
this country; sc.) an .idea' wpiu!dbq
absurd. . White., tlierelorc ibU-.fTl'u?
thc. case,' I could not consent to mke!
anv distinrtion tetweeir tho ouie&rs of
-ii.'T.Jeni! Goveatucnt and the people
l rc,m kcui. , , ; i
Tfio n3Xt leadirj ftraturo in ihis rub
Ircr.g'jry tsysU'in i.ylhat h propo-ies to
dopoiitetho public money, when col
I 'deJ, in i'.io lia'iJs ol tlio
outers ot
the Govern.nent tot saf .-keeping. Pre
vious to the commencement of this nd
iniuLitration, it hid len depositod for
safo-kecping with. tho bunks; and the
q hi!o:i is, in which . depository U i3
public money most likely to be safct
Vbere are vour l:;ird earnings, when
taken by 'he Government,
against fraud and dol'uloat!
most secure
iitinn t . If un
are governed oy ttio cxpenonce ot trio
imst.the quejlioa is unswered. From
1810, Mbcn I tie iimK ol the v. b!alf?s
Was established, up to 1331, when tho
pubfi(Tmo:i7 was removed from that
institution K,Llho order of General
Jack-son, the Jovornment did not loso a
single cent by the brii.k. During near
ly the whole of .Mr, Van Burcn's admin
istratiu'.i, Ibis fb treasury system has
bocn, to some extent, in practical opera- erlastiitgly tho subject of experiment by
lion, (though without, iho authority of political q'iacksT' Are we to' disregard
law,) mid it is well known that Iraud the lighis of past pxpcrieccc, and con
and dofalc.'.in have 6ocn. tho order of tiuuo to' hunt out new ai.d untried cxic-
Uio dnv. iittf i;rg-j uoijicauoiij oi
tjwartwout, Price, GrViiot, and others,
L ic,
expedient, and therefore wc should immense emount of bank capital already
makd a trial of it. Tho'coun'ry is tired incorporated, and other causes, it is opt -of
experiments. You have paid sadly i likely such an institution will shortly be
a - J
uiun.ui ui. .ia.ts,iiuii uiiu jjani'i
ots who have adorned our annals hcv
er mougt.1 ot tr.;s new-l;mglod sylem ;
wijr nau uwu uiucia, uim -iuutiu niciii me suiire.isury, I cannot liesjtate. -to
work well, and were content to Jet j Your State banks are more responsible.
well enoueh alone.
in leJl. When tliose now in mnxr
determined there should no longer be a
national bank for the collection,; safe.
keepmg, and d,oemenl ot the public i
money, hey determined to make use of
he State banks for that purpose It
considered a ten of republicanism : and
-TJ j 't ,,"7",''.r.",4 r"-11
all who cfid not support it were denoun
ced as federalists and bank-men, bought
up by the baiik of the" United States.-
We were' told theni as wc aro told now
that it -was an experiment. Well the
experiment has been fried, and failed ;
and failed, in my opinion, from the
weakness and corruption of the admin
istration. Danks were more generally
selected with reference to their partisan
real and devotion to the administration,
than to their soundness and ability as
fiscal agents of the Government. I am
no friend to the State bank 'system; or,
as if has-been sometimes, called, the
pet-bank system 5 I have always been
opposed to it, and am so still. It
gave 1o the President the power of se
lecting the deposite banks, as well as
removing the public "money therefrom,
and, ?u that extent, gave him a control
over the revenue of the country a con
trol inconsistent with the spirit of our
institutions. It was a partial union ol
the purse and the sword a union al
ways dangerous, if not fatal to the. lib
ernes of the people. Bat these objec
tions apply still more forcibly to the
sub-trcasurv system. By it, the public
money, is placed hi the hand of tho crea
tures ofthe President' He makesand
unmakes ihem at will. .The public mo
ney is, therefore, as much under his
confrol asif it was in his own pocket,
and it ii a perfect union of the purse
and the nmd::. :tTt
These were tho opinions of the ad
mini?tration in 1831." The ' Secretary
of the Treasury declared, in an elabo
rate report made by him on the subject,
that executive ofiicere, as fiscal agents,
were less responsible, less safe, less eco
nomical, aud less convenient, than banks.
""The "Globe newspaper, known to lie
the organ of the party, denounced the
sub-treasury, when proposed-bv a dis
tinguished Senator from Virginia, (Mr.
Leigh,) in the following language:
.This is the notable plan. by which
Mr. Senator Leigh wiuld diaunthtiv$
power of the Executive over the deposi
tories of the puhlic mono v! Instead of suf
fering the President to appoint ond Tre.
'surer, as ho now docs, he would hnve
him appoint a many ai should be con-
vpnicnt. Y!ien appointed, thes'jofiicers
frint npressarilr hp . n nil PTPrirtivrt itf.
leers now are, subject 7 to removal at
ihVwill of ihe President. These treasu
r'fts. ail aimointcd bv the Presiilent. anA
remuvcabb at, his will, with all the put
he hiiuicy in their actual j'$se$sm
in thfir pocket teste, trunk, and
rattfft are in the opinion of Mr. Leigh,
tho Constitutional depositories of tlie
public money, in preference to State
bahfo; which gaurd the "public money,
as they do their own. It is fortunate
for -General Jackson that he does not
entertain Air. Leigh's opinion."
Such 'wai. the opinion .of the wholo
party in 1 31, They were then in lavor
of tho State-baak system, and preferred
it to all others but it has not worked to
suit them.' They .now wheel to tlie
ripil-aboutmaka war ujon tho Sia'e
banks," hold up the reiected and abused
su'j-trcasury as the amy 'democratic sys
tem, and denounce ail who oppose itas
fed-:ra lists 'and bumVtium! Ii there no
limit to public credulity T , Are the great
intercrts of this great country to be cv-
iuients i i'i uj r.uucr
boar tiio?e ills' we havi
Than fly to other that we buow not bt
A national bank, wi'h i (cr
ryeatry pruitfrabj; lo ii-. Lorks -calleciion.
safei-kecnim-. au.f r?:.
burmeaud,c..t))fj.,yubjic uy. iuit
""C r'!''i"iiwnHi i.'--'i-i 'Villous. MfU ;
cremco, ii ever, rompclled, ilierelore,
to choose beiwen Stale bank for the
safe-keeping of the puMic monv. and
more safe, more economical, and more.
rnnt'pni-nt ia fha r..r,U a.,,1 I.... j...
gerouj to liberty,
; If SwartwouV and Price had been
rcompellcd to deposite the pubHc mone?
. fi, wceVJj , wmeCk S
York to the credit of the Vea urfrTf
tlic United State, as was formerly lf
case, the G vernnieiit could now "mm.
mand a million and a half of the public
i i .i . . -
money wnicn mcse suD-treasurers are
revel'ing upon in London or Pari v In
stead ol thif, tliey were allowed lo kepp
il in their own chest or , vauit until, the
sum becane large enough to tempt tlicir
cupidity they ixicfcet the w holft. Rt
into a steam-ship, and in a few days are
across uie Alia m ic. i lie sa me may bo
said cf other .defaulting tub-treasurers j
and yet. when a nronosuinn wn W.n
ly made in the Senate requiring collec
tmg oinqers to jiaca . the . money . when
collected to the credit of the Treasurer
of the United States for the use of . the
Government, so as to place the j-t'LliV
money beyond the control of thes sub
treasurers, it "w as voted down, hv ihrt
friend.-- uf the administration ! , What
confidence cahj you repose iq the pro- .
fessions of men who, by their practices
show a total disregard of the interests
oi,ine people 1. It is no argument in
favor, of this system, that these
are required to give bond for the safe-
Keeping ot toe pulilic money. , What is
Swartwout's bond for two hundred thou-,
sand dollars, who it is only about one
sixth the amount purloined by himT
He can idemnify his securities, and
have a fortune left. -A facetious
suggests only one remedy to secure
mcse suo-trcasurers, and that is to cut
off their legs, for , they are now so long
there, is no catching -them. -
I have but one other consideration to
submit to you. on this subject - The
patronage of tiio Federal E
already, tremendous. With, ell rcflecu
ing men of ail parties, it has becoma a
just cause of alarm. It has increased
," 'f(8i 'u ouiii io oa uiminisn
ed. But the proposed system will great
ly enlarge this Executive patrOna. -
iiuuimr ui roerai onicera must
be- aua-niented, while the wlwle of Uie
Federal revenue will be at the command
of the President of tha United States.
With such tremendous rpwervbo
President, I fear, will become too strong
for the people. Already has this paU
ronage in many places been hroiif-ht ia
bear upon the popular will, and control,
in Cntrc .Inr...... tl-vA J I . i ' 4
... .viiiv ui j,i-v, tuu iiufuom oi our i
elections." It was orovtn liHnr if
late Investigating committee, that Fed
eral otaccrs in i. i . were hetcviJy taxed
to carry on t!io jolitieal campaign in
that State. That which was on mn.
jjcture, has been proven to bo f icL
ueaerat jaafvH-4tis-timoruraHid
dress, among other Executive duties,'
promised "tho correction of ih Gi
buses that liave brought. ihe patronage
of the Federal Government into conflict
with the freedom of eUcwuns.'' And
yet, when at tho. last session of Con-,
gress a bill was introductd into the ,
Senate to eonect and prevent such abu
ses, the friends of the '.administration:'
were found arrayed against it. It bc-r
comes, us,, therefore, to guard well a-
gainst the. increase of a power which
thus threajti.ns to'wp tho very foanda-1
tiouof a republican Gjxvcrn.neut. . '
Mr. Harrrrt-r ltrre giw a: ' tabular,
statciu. ntof the ' recap's ' anj cspfndi-'
turcscf the govinimfiit which may It
so;n bv trtrfemice to the pamphlet co con ".
tiuj , -
." From thU review of Our receipts andf
exprnuituros for Hie fast two years',' it'
wiilbe sot that, noiwiil.staudmg the,
piessure u, on ti c ieoj ie, t:.e odurnw
tratiou ha allowed none ol it to lx.'.ch
thftri. ' Thoiij;; wo have- been vomiei!
4
.
I