Newspapers / The Durham Recorder (Durham, … / April 22, 1829, edition 1 / Page 1
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X. \> I'.DX KM I AY, APRIL 22, 1829. JS*o. 418. F:""T. the !<*??? gb Ile^.ster. EBATL on tiik bank c^uks 1 ION. vv? ch took piac* in ili? House of (Jummoni, frotii Dec i9, to Jan. 6. Continued Mr. S\riiN iki<l| it was ltim r>p?ti>ioi?, tt the lime <he committee tv?-? t.iised, ?nd he retained lh?s opinion still, that the only Rood which would result from ttm invesii?{ation, wouid be to u'-lohi to ihe leR'slature M.d the Lomn unnv, ? ihr tccrct* of the prison houur.' To t?t? tciI (he rnyfterifs and expose the evil* of bitikinp, that the experience of the p<?t might teach wisdom to us, and io tho<e who sbalt come alter us. T^e history of fta/ier money and of tanking in North Carotins, is ?|iogeih pr a singular one, but believing it will -he.' inmc light upon the suhjci t he '.re us, I ?enture ?o request inr aitvn <i n of tne committee, while ! at tempi to re?i?e a recollection of some of it* m m Mriktng features. i'" ITQ1 . ?W< list f 1 ... , Mc Kd'3 if o J ?uu i ? o j iuuimj ui in he enjoynr.eru ol civil liberty, defined ?id secured by the constitution under wliich we live. The period of t!ie re roluiioa bar) passed 07, but the bless, jngs of peare brought with them a pub. lie debt, for the payment of which no specific or valuable fund wai provided. In (his stale ot things, the legislature bad recourse to the usual remedy? he country was flooded with paper money, no! to be sure, to the ??roc extent that we have witnessed in more modern vmes, hut a greater quamity was emit ted '',ln ' hc business of the country re* sured; and what was the consrqueno i This country never afterwards saw the da v, when the r?ie of depreciation was iess than t%uo and a half to two; so true i'. is that nothing short of actual ava'la* tic capital, will sustain tl.e credit of pa per money. Let it he reccliencd that the time the charters of the Brinks of ' Ncvocrn and Cap* Fear were obtained, t fie whole amount in circulation did not <-xcetd g300,000. That for the redemp icn of Una sum. all the public lands, in i.tii-'iog the state of Tcnnetsre, were p. edged, tlie public faith was pl.ghted; e famous expedient proposed by the t.ll on the table was restored to; the no Tfrror'a proclamation was issued; and was furthermore done, whicU 00 le Z slat.ve body, at the present day. can 47? he bills were made a lawful tender in the payment of debt*. And yet the ;roclamation roon?*y became neither1 or silver, or the representative of gold or ailver. Such, sir, is the histo- J ry of the proclamation money of 'd J an J '65; and such, we are intormcd, wiii poi be the history of the circulating me. ti'uro of the present day, which is to Ka*e no redeeming quality but thai *'iifh shall be imparted to it by the governor's proclamation. flJl.L .L. f a _ r .1 w ii if moc tacts ociorc mem, was j the legislature dispoard to put a period I to tins paper money polic>? Our ?ta I <j'e book inform* us otherwise, 'l he constitution of the United State* wn tdopted in 1788. and fortunately, we ? etc prohibited by ihit instrument from emitting bill* of credit, or making any thing but gold and silver a tender in the pajrmen' of debts. The legislature had not the hardihood to violate this provi? 'nft, but it was not long until they found means to evade it. In I804. it was dis covered, as we learn from the pream ble to the charter, " that the increasing population and commerce of the d iricts of Wilmington uiid Fayetevillr, rendered it expedient that a bank should !>e established for their convenience in the town 0} Wilmington," and the aame ?eis'on was not permitted to pass by, wi!hout extending like privileges to N'ewbern. Not directly, it is true? Mischievous doc.trinea ate most gtner *lly introduced by stealth ? hat which w??opc; !y conferred upon Wilmmgton, > answer the purposes ol commetce, w?? exten 'ed to Ncwbern to provide ?gainv. i ! . cs at sea, but that t om'nerce Dight br thus effe? tually aided, *? The Marine Insurance Company" in name, b?carne the Newbern Bank in fact. H'inst these original charters, little b? &aid. They were mere private ?rporations, intended to subserve the ? "pose* of commerce, and they issued n'tts handsomely engraved, upon ailk JP?r, which formed an admirable sub Mute !r,r the ragged proclamation mo '1 aeir paper obtained immediate J <encv. until having supplicJ their wuh the necessary amount ol ri'tlamailon money, in the language of mmori'y," '? they throated thia ' "d pape- a: applicants for go'.dand nl?fr."? Thr immediate ?**?:!' was, ihui botit i|?e bii>k nctr^ u d 'lie pj]>ct currency drpret i?ted; the hrtnet, T-e ??u*e i liey w? 'c irtUtuii d l y ?h? l<tte?, J' d tl?c turi- in y became >t w*s no r? - 'C inui a? .? I i . lit the mckik hi w t**'. ? t< e Ir^ulMiiir, inximit m txrwt>t turn ? UMMittorPtn 1iuu? diiect UkjI'uii, v. iit.oui out it|>?rd io|l<e uhima e i^n ?*< queoces having asceitatoed that iic-e institution* were making large divi "n iS d?tcm?ine'l 10 thate lite *pml. Anil lot lite Gr?t lime since the fouii^a-ion <1 l lie ^nvernrnrnt, in the year IS07, d c | >ta<e of Nor<h Carolina became in it.dt t 1 1 dual cjrfiorator in a mound in?t.io- j tiuii, t>y *u'??rrtbtng g'ij OUO to the <?- j |)i**| M?u k of each b?ik. In 1309. when the t ai.k imirs *ml ! the pa|? r currency ?trr ..1 . kx- ?'< flirt lj- J ted, the lei'i^latm c dciet mined to po- tl ! earne?t to tcmedy the evil. The ? p n- I ioii en" enaincc', ?hjt if Ihc pap? r J LU'rcurv could he exiini?ui?>he !, the i ? bank*', rd ol ?hi% slrel't, would pay spccie, ar.d we would ha?e a sound circulating medium. This was uii(|'iet tion jlily the ptoper remedy, hut it would ha*e rendered mc< ?sary a tempuraiy resort to the ordinary mode* of taxation, and, I pretume, their cunattiucms hid not muructcd them to iry the fearful expedient, and therefore a different "jpe cics of taxation wit determined on. Although but two yra?s previous to this time, the hi* c t ad become interes ted id these institutions, to the amount oi one te*eiaii 'il their whole stock, a bill Wis introduced to provide a lur.d far extingu*hitig 'he p . per i uriencv, ^y imposing a tax o! i?o percent, upon that portion ot the cap iat owned tiy in dividual*. 1 w?s ultimately dcteim n e l by a small v it : that the atate should receive lull [itofi>s upon iui own stock, and exact fruru the other Curpoiaturs a tax ot one dollar per bhair ? and this tax has been irvinl ever since. This may h?vr bern constitutional: 1 pretend not tu deiermi'K Lot was ii fair? I have befoie stated, that previous to the establishment of ai>y hat.k, the pa* per currency in existence did not ex* eeed #3 JO 000 Those who recollect the events ol that .lav, will, 1 appre hend. sustain mr io the opinion, that it constituted at least one half of the en tire circulating medium. 1: follows th.it at that period* SJC JJ.OiiO was a bum en tirely adequate to the cornnicrre and business ol the s'ute. In IS09. the ac tual capital ol the Ila"ks ol Newhern and Cspc I'ear, was 55300,000. They contained within their vaults a large propoi'iiMi of the ptocltmaiion money; t lie i r nci.-s composed almost exclusive ly the currency ol the country, and it is not therefore prob.tnle, that the whole amount ol the circulating medium of the s:?te g-ca'.ly exceeded $80i>,000, and yet si?, at that day, the compl aim was not with regard to the ijuantry, hut the quality ol .nviry in circulation. Suppose that on i he lit of Jtnuaiy, ! 1810, when I It u whole amount o! bank* ing capital ol the state ?j? ? <n the Bink o' Ne?b:m 250,000 r'o lars, in the Cape F< sr I 50 000 dollar*, making an aggregate of 400,000 dollars, the amount of monry in circulation to l.av: heen one million. 1 respectfully te quest the committee lo piu?e oi.e mo n?cnt, to contrail ti c situation of the state then, with tl>3t in whirh we find it ?>n the 1st of J >ii. 1811, and to deter* I mine, who are really the authors of all the evils of which we so feelingly and so justly complain. The committee will ' recollect thjt in 13 10, the S ate Hank w .s established, with a capital of 1 .600, 000 dollars, and tb.it on the 1st of i.?n. Id I I, it was to artual and active opera* lion. The result is. that on that day the hanking < at'ital of the state was nomi nally 2, OoO, 000 dollars, actual'y, 1 600, ' 000 dollar*, that the nominal increase in one year was five fold, and that the acual capital was quadrupled! Did 'he increase of commerce in that ill-fate i year, warrunt such a measure' \Va* it acting with good faith to our partners, thr Bjiks ol Newhein and Cape Fear, with whom we had participated equally in ihe profits of their entei pi iie, by thin fourfold increase to h zard a lourlold diminution t f their profits' No, sir, the legislature ol l? lo, with honest inten tions, on doubt in the establishment of the State Hunk, pursued a policy which was wanting in good faith to the exist ing batiks, and suiiidial to tho best in 1 |?rests of the ataie. If Jur her calcula* lion is nccessary to prove it to a mathe matical certainty, I have it at hand. Tliey not only quadrupled in a single year tha banking capital of the state, but thrv created au institution capablo { if? law, i) poo the payment into j:s vault* j ?>?? acioini t I jiL-tk, 87 S dollars, to j t??i?e p?per to the *niou:>i ol 4.iOn.oOO Hol'lr*, %*lvrl? ath'e I to t ?? e lec?' c ??;*? r?'V t I he ? hi Iviikn to u?m; \n-y> r t<? t'-e an O'-i-t i>( three iion> ineir ? i al, - 'lif iliter tits tuttoi * 10 ut iht tr M?c(tn> it, ??'x nmlit n> ??' ? *?*il thu- to a ve?r ??> It. *e pii* in J t H ? ti i j* !?'*> s s I'f! ,ih f-?r rvciy i oiiar pie *??*%?*?% i? ? < x s . i't c iii .tit Mi'i . ; \V iijl *:<? I'k 'MijcCl ?<? "C ? rt Cttc! ! by th * tu<l? fi' ami uui?t?(Oci>lt'! in- j " rlctei i t ?? ii h i ir cri unt'i'i: m ? (' tin ? ; I The p<(*iinil/lr to i!n c'? v*r ?' il>v I | S'.air H nk ii !oi iii% o? that ttc tor i -or j ! | 'I'll n * >t ? l< i h? rt ?* 'O irdttin K'f | ? . per vol i cm y "hen in circulation." H w iar tlii* hj<k liccti tflcCltO, 1 *?>11 O'e >eml> i.-ke i he trouble to iiqwire. The ei d |>rq|iii?il wao a most debt able cn.e, u c??e popularity to the pr jrr< and io ru.ci) i lie M.tCtS' u! the application lor the iharut; 'm' tm oivaii* by Mtiuh r w?s to fce acc<? . pMfc'u fi. were icJ'r ar-d visi'ii.a v in trie ix r? tn . I rtq-.tred but a year 10 prove thtoi v>, f >r in 1811, thr I c c t I ?'lif tn the amended charter, *fS?ott the i'iDa;i|)?i ittnei<i oi their hope*; and d<> they then iet?acc Iheir ste;i*r Nu, sir, the (avouiitc pio- | j?.? ? ,3 |Fti 3cvci el in, nic existence ol llic < haner is lengthened fiheen years, the pr>we<s ?*r.d privileges ??! the corpo ration iitcrcu?e<t? and the l*ih ul llic Mate is ? x pi fs-iy pledged ?? that no iih tr n >: ? 1 1 lie established by ?nr fu ture law ?>! i li< h stute during th<* icm ol iv criMon." Wi ll n?\>;ht an ex. pre-s pUtt^r i>e uquiied a; '.lie hand* ol ti t I' vV^J'ure by the siccM.o'.dei ? i;. til's ? ui;i<ji?'iun, when t?y its \eiy uitn lion an imp'icd pledge, g?vir> to her partners in ttade, the II r. Us ol NewLeni and Cape Fear, ?; ' in iti J son and in c? n>i.i ?. ?< . * ;.u been vi^la* ted: not only u. !.? l#<n I against policy. But :i c S a o Umk was not only to ?? rc.ieim the psptr ci.iici. rtr," it w j? -o er:oa.b ttuhsi ho vsc' s the R nk? of Ncwbtrn ar.J Cape 1 car, I and i i*e a mammoth front * lie ruins. Il was j tavori e pri jec1, a' that day, ls it is i> ti.it, to have but one Lan&, and ti e only difference between ibem i?, that "The S;i r Bmk,M wan to shallow up the paper money and the Hank* ol Ncrt*>e ;i r. iid Cape Fear, and ?> The Bjnk oi t! e S'ato," i? 'o s? jIIow up the Sute lijnli tit addition to tiie Bants.* ol and Cape Fear. But the Banks of Ncwticrn and C*p?? F?.ar ('id (tollhouse to arirpt the invi(a:ion tr> su is. ibe tlteir capitals on the bot ks o( ihc S:?te Bank, and we have no assu rance t'ia? a similar invialioil on behalf of ;l e B?nk of ihe Slate woul i meet with arv better success now. The pro. itrct lai'.eii then, and it may fail o^stn. i no i<f x t thing (o nhicit l wul call I ;lir attention ol toe cornrriitce, in the cl these corpura :?.'n?, is, thai tin lljtiks ?>f Ncwbern and Cape Fear, i pi It :v n.g *ub?cibed :lirir cap'tal in lie bo- k* ol the S ate B^cki apply 'o ' lie legislature, in 181#, lor cti extcn *iun c>{ their charters ar>'l ar. incroae of ? ?pi-al. I' f< s alleged in their behalf, 1 'i v a^hooph bat k* were in themselves ijuee<fingly u-c'ul to all communities, ii isp; 'ti-iUic to the welfare and charac ter ol N'irih Carolina, yet that compc t j i??r? and tival<hip in if. is. as it. every thin.; else, w <* - nr(.e->M;; 'hat 3 >:iiglc bat k would be pernicious to ccm'nei cc, aivrl 'jangrrnos in the liberties ol 'lie people. Controlling i'.f whole munied i apiiul ol i nr country, it woulJ wield an immense political influence, and gcrcr* ate that most oi'ioii*. of ail flfistocr&ci??, " ao aristocracy of money." 'i'i>e ar*?u mrnt prevailed? >t he Isvotite project o? ^ but one Stiite Bmk, was in the s-hort space of four yeurs, abat.'oned and for* gotten; and the faith of the state, twicc plighted by solemn legislative ?cts, was held to apply, not to the " increase" of the capital of a batik already in exist ence, hut to the 41 1 stabliihmeni" of o re# one. Be it so: ?o the State Bank the effect was one and the same; lor, ?s I shill hereafter show, in proportion as hanking capital was increased, banking profits weie diminished. In the bite! pniod of four yean, the banking capi tal was increased in the ratio ol eight to | one?from 8400 000 to $3 200,000 And although it has bacrt shown, in 1800, 8600,000 constituted the entire circulating medium of tl<e state, ?e find in tha year 1814, three loomed in stitutions in existence, with a legal ca<> pacitjr to lasue g 12,800 000, more than twenty one time* the amount in circular tion at that day, and more than twelve times the amount eatiroated to be in ex istence four years before ? Mr. Chairman, at ? *?'?n ftaye of ?r ' pument, before we 3<*opt tfc larj!U*?t;e of the resolution i.n ihc :sl? c. rot th^t U is suggested, but " ?h.?t it afifirar* ihat . il.e Sia<c H>lik. ihr l?nk ol > Mid U?ik u? Catn l't?i h.i?r tioLlfi tiieir rl>aittt?, coqimiittil Irani!* upon the >?*?< !?!'? of N. Carolina, tii'l r'orc *e dcie? ?iiliie.liithv iai pi? ?i;e ? f ;!??? ?;?mlen?jti ivm Ortn>illc,(iMr. P i?i.) to b< ii?ir the d.reilo's ot tlicbt i s nit ?< n?j 10 i lie to ?? i ear their j il-n m," p? iniit me, loi mercy's *ake, to nq ?rr wheiini :!??;? t i* ?iuth:i>g (an be ? r^e'l in licit i-rlu'l. Sir, it is ihe pri- J vil(|*t ot ihe viir?t ft !'<?? who expiates hi* ? rniej upon t'-.e puMir galN>n?, ai it.e ??wtol mornci'i when his condemna 'io? is nhtju' to be recorded, to have a pjiient he^lim?, it he tan s?jr my thing w ?>y sentence ol death should not be pron umerl t|(iin?t liim. Andareih?se ?? Diiiik 'thins" without the pale ?.f the ennvt" uti..r? Is their no rede?ming tr,.r in th. ir chjr?cier&? No single act ul ir?tir lives, wiiicn, if it does n- t rx teniait ts.eir p?il'? en iiies them to our roTDpasnioii? 1 vand not hcie as their advocate, but I * ill no?, to criminate tlicm, become the apoit^ist of unsite legi>la*ioo. I believe that neither ol me iiiMiiuuoni nave answered tne ex pectations of their founders, that ail have been mismanaged. that ilic S ite B>d!i paitirul&rty, has pursued a course of bu>iue?- oppressive ..nd luiooustothe c?>r .n. -.Miy. I <*'iiiiit( without hesitation, '.hat tlie whole fvsic.t. '?( exchange? the purchase of rotten ? ol United States stock ? ol their own notet ? is not only wroujf, but iru'cittisible but wtonp as I tt:es>': piacsicrs arc in principle, it is not from tt>em that (he injuries which the con.tnoni'y sustains hive proceeded; and '.lu-sc v jc? s may be corrected with out jesutiir lu the ti euictii'ous engine ct < ppie&s:* u wliii.lt the Lill proposes to iutioduce. N??, sir, the evils which have t cume upon the country have not been produr< i? by '".sory, t>y ? xclianj?e, by the purchase of cotton, or of U. S. Bank stock, but by an inordinate anxiety on the part of the bank to make larger di vidends, and au insatiable desire un the part of the community to borrow mo ney. These weie the capital evils from which the comparatively little itre>;u latiiiea tallowed na'urally, not inevita bly. The community was anxious to Lcrrc.j money, the banks to ler.d ? '.he country wu* deluged with paper? property rose in valut ? money depre cia'cd in prupui tion? a revulsion was inevitable ? piy-day came, alike to the batiks and tho people, and lound both dliku unprepared to mc?t it. In this slate ol things, I wish the tacts would warrant inc in saying that the banks and i their dtblors were alike honest iu the | wotsl of limes. U'jt 10 return to a subject from which I l.ave digressed. I? there nothing 1 which can b? s*id in favor of the Stale Bank, tonfrssedly the most culpable of the threi? I fj;icv I hive nhnwn, sir, that the roaster evil, in the catslgue of barking irrors, is the election of too much b'ock, and the consequent issue of too much paper. Nnw, str, who is the , author cf this evi;? on his head rests tho blame, and there let " the doom" fall. Was the legislature satisfied wiih enor mous extension of banking capital. and consrcpteotly bank issues, hy t tie addi tion o! g 1 . 1 00,000, to the Capitals of the Banks ol >Jc?i" in an'! Cape-Fear, in JSl?l? N , sir, I hate belore me jour nal* of 18 I 7, when it appears a cviu nit ICC was raided, at (he h< ad ol whit-b wjs placed a highly distinguished member of the senate, with instruction* to cooler wi'.li the stockholders ol the State Bank, J upon the propriety of increasing the,r [ capital. 1 will take the liberty to read j tr? the comniiuce a few rxtracts from i the respectful ieply ol tho stockhold ers on :ha? occasion, declining (he pi ol ? ft-red boon. It is, to my mind, tha must luminous and conclusive argument against the tun mad policy which at ih*t time pervaded the legislature, and is not without its advocates now. (Mr. S. here read exracts from Judge Mur phey'a Repon.) They decline the in vitation? they rieprcciato the poliry; hut the banking mania had nut ictclud its crisis, and all argument was idle 1 he legislature, at that vety session, require them by resolution, to bring their untold stock into marker, and in the lolloping year, (18 18) a (till is introduced intend ed to punish the State Bank for " con tumacy," by adding a million of dodart to tha capitslsnf the Banks uk Ncwbern and Cape fear." A capacity to Lsuc VI times the amount of money in circu* lation in 1800 would not suffice; the I proposed i?:i? would have been as 24 to 1. The ?pirn of speculation wat abroad in 'hr Ijim? the M hieh tide ol comwtr c'al piosperi'y/* depictrd by the minor ity, waited wealth and impro* rment liont the seashore to the mountain*. Tne pa,/er r decended in our lap*. Splciidi'l cities were (o adorn the bat ks ot Roaookc, ai>d a bank en in lisperut t Je to the crowing prwpccts and com ii eire of Mil on. Si. the elate es? capid (lie turn in which this wild pro ject would h?ve involved her. But wi.h the aigumtni to which 1 have ad. v?rt*d before then-, let it be remember^ ed, that she was saved tJy a single vote. Mr. Chiirnun, permit me to recom mend to the gentleman from Gianville, an rxtensi' n of the enormous powera to bs exercised hy the judicial tribunal created by hia b: II. When the cfliccra and stockhol 'era are called to their ac count, direct your judges to bring be fore them ?he legislatures of. 18 10* of 1814, ol 1817 and Itll. not "to hear i heir doon-," no? because ? it afifirara to o? that they have commuted great ? raud?,M but ascertain by an impartial examination whether Ihe immediate repi e?cn<ative? ol the people, were not the innocent authors of the e?ils, which we may increase by an injudicious at teotpt to remedy. i .;u -a - ? ? win |jiuc?cu inn?, air, iu cximiiH} the correctness ??f the leading charges of the Minority Repoit," thai the whole of the additional stork ot the Rauks of Newhern and Cape Fear was manutac~ Hired by the banks ihem*el?e?;" in oth er word?, that it was paid lor in paper money, when the law r< quired it to be pBid in gold and silver. The gentleman fiotn (xranville sct-ms to regard this as bis strong point, and he dwell* upou it with peculiar cmphssts. It would he a grievous chargc, il true, but it is so ut terly groundless that I must confess I arn sorry to hear it urged by so inn '!. gent a gentleman, in his official c?p*'~: ty as chairman ol the bank cnmmii:ee. The expended charters of 1814, do not require the new wnbscripuons to be paid " in gold ai'd silver," and the emission of the expression, which is to be lound in the charteis ol I 804, is con. elusive evidence thai payment ol specie fur stock was no' contemplated by the legislature ol 1814. Ii is impossinle for ingenuity to raise a quibble upon i ibis point. Suppose the language to be ambiguous, is u not a matter of history, thai at that time there was no specie in the country, and thai the popular opin ticn of the day was. that specie capital W3? cniircly unimportant in North Ca rolina, nay tha' wo would do better without it, than with it. That specie was unly necessary to give credit to notes abroad, and that it was our interest to retain our issues at home. I declare, sir, that the mere circumstance, that this mailer should be drawn into doub-, is one of the most striking instances which can be given ol the frailty of human greatness. Have the committee tor gotten who was the author of the char ters of 1814? Has the ablest argument evtr delivered by the illustrious states man who at that day represented the town of Newbern, so soon laded from our rrumories? it is a source of tnor? tifi ation, I may say reproach, lhai in this city, I nave sought lor a copy oi it in vain. Tunc has shown that his opin ions were fallacious hut where is tlio man who never erre?'! The legislature confided in his judgmen', but whce is ! the individual ?no ever heard the tones | cf h>s voice, and wiil not emend his j mantk* to couccal thtir I ailiy? 1 The s'ate sutv?C' ibed 100.000 dollars ! of thi* 'fabricated capital,' 100. OVO dol la i s in each bank, and washer soliscrip ! tinn paid in specit? Noi a taithing. j 'l ix ks gave us 36 0*>0 dollars l"r , Mirir charte's vrc paid t??em tre.ntity i n jlcs to the s ?"tmt ?<f S2.000 dnlU'* more, and the politic trrasurer, 1 pie 8'imc, n-vi r ki?< . \v that ihe cha ter r?? quired him to pay the remaining 8? 000 ?' in gild and silver;" at all events he r.evcr di.i no, and in the abieo< e ol aM oiher au'hori'y, I sh'JuM he disposed to give to Ihe ac:s of our <-ffv.i'l officer, ihe weight and character ol a cotempo raneous expositi <n of ihe statute. \\ hero f'oos the gentleman get hts evidence that upon im.s " fabricated capital," the 1,100.000 dollats ?ubsrrii?ed under ihe acts ol 1814 nearly a 61 h of which was owned by the ata'e, notes to the amourt of be'ween 3 and 4 000 000, were issu ed? I have yet heai d no l? ivmony, that goes to show, ihat both institutions, up on the xoholt amount of then capt'ol, ever iisued more than half, his sum i I wilt now direct the attention ol tb?
The Durham Recorder (Durham, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
April 22, 1829, edition 1
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