Newspapers / Western Carolinian (Salisbury, N.C.) / June 17, 1842, edition 1 / Page 2
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I -, I ' 1 i k I jt - :1 I li 2 KnnicV an,! l, tive-l heavily i.i i'.ic bargain ' ! not this (ho ;!nnt;n;ip of tlio. American fi.tu ..) efl"ri? ".,.'.' W o might po on tiiultiplvtng nth citations fro--very page of ihi speech of 'Mr. . Tyler. IS i hose already qinted Hre abun ! inlv suhVient i publish, beyond all possible cavd, lint Mr. Ty ler's view then wer. of the ultra a id tariti's.thoo'l. If then, on the bin' qusti m, -Mr. Tv'.et felt VmtiJ 10 s.ifrl.kn the dictates "I piny to tho pnn eip'.es nf hit wh,il career, hmv i it that he is not cq'.ial'y bound by s-.ich eM;sjd-ra:iJhs in relation to tin? measure of n tarid'ot da tint. If he . it so rvvm I, hn.v can hi hmd bit countenmite ti Mr. Forward' exorbitant scheme or how run Mr. Tv lor .put hi owr'ivc tigmture to a hljli-tonoil protective iw.fW.-Pders'ju-J (V'.t.) S'ate$ nan. - ' " W ii'u tin- u.v'mon of the Supreme Court the Democracy are gcuc.nlly dibtuiislied." Aeu York Standard. The Standard is quite right. - Tint b xly " pen orally " art dusalisil.'d wun jittico, in all cases. Like the Irishman who wept over rush a pro' peel. Justice n jusi nbnt such people aro "afraid ol. Courier & Enquirer. If some men we cnu'd name bad justice they might 'possibly ho elevated nbnut ix foot higher a wve tne earth than they are at pnsetit. A. i Standard, PRR VMULK and" RESOLUTIONS' adopted j by the DemociaiC RcpnUicaiT Convention held In Salisbury on the 20i h May.'J 8 i'i. : .... , . , -e " mosi inereiore IO0K iomewncrn eie ,!,e ('"Vorn-neiit ,f t.M LiMte.1 Statjf f r.,r the cause ot th , evU that no atlicl the coun w.,t (stal';'ihed t.y tU pntriott ef thv Revolutiori lrv. V'hcre are ihujr too foupj t ""Thimt a-, on ilia principle n( justice and tqinKty W every J most inifortiant qnestioti, and, wo propotw now to"; free American citizen, anj At all arU of the Confederacy' therefore, , UtioieeJ! I hat anv attemn! ot LonrreM to con-i fer, by legislation, oil any citi.en,oi class (if citizen, U Wo need on'y look to well etablfshrd fact .to or on any. particulaf . tectiou of country, txchnte j be convinced tlmt all the embarrasment3 of Hm ftririlrgri, i not only contrary H lln ConstimlSpu, j Gotercmcnt and dirt re f the country have Juit it tubvertivo of ilia very end of frccIovcrn j arisen wholly from a courte of meutures, in the :rent. . Grnoral, and Slate Government alway advocateti '" litiotted, T,M the repnatel nttemptt of thet lI,n Federal nr Whig party, and as uniforu ly Vti-X partv at tho I'iira Seioti of Congreaa toi by tho Pejjocratic Uepnblicant ; or, in barter a 'United Slates Uank onferrin en nlker wordf, tlo ascendency at.prewnt in the certain individuals the rxclvxitt cos'odv of the i Council of tlio Geucralrand for omn time 'ist in public money, with rxcluf '.ze right to discouti', 1 lho Su,t0 !ovenimcnt8 of Wnw Poi.irv, has pro. nnd loan it out for their own private be:mfi ami i '. ,,,Bt ho. emmtry now endure, tho exclusiee right U make a piper OMr.'ency j lv W'S, I'cy,- for Wing, and Federal receivable in all due U tho Government, are j Hicy a ru the t ime. There never have been, wholly incompatible with tho principle of tho'"""'' formation pft our Government, but fo Constitution, and dangero.it .1 the right, a; ad ! pnrlitt in ilia,. country, and, ibese parties still hbertiet of the people. exist. Occawpnally, it it, true schisms have luken Jca.orcThat wo view wit!, the deepest con-, rfM9 ,',csc Pie growing out of ,hn.renee ,-f rCrn ine. mlrodction into Coo2res bv the Whip ! ,c oa "l T'WJ'?''?. whenever it be partv'ofane Tariff ; -a-mea;i"o VhicK ,0 recur to lundamer.ta prmctplet, ,not roasW violatetlhc Comptvni act f t?: f Jfreaset.wouM ir...li. and the men,, nnd which 'd..b!e. the )axet on the people.-and " ":r3 carh inrly . would rally aa,n under their brinatback on the rnuntrv lha proiee'ive polirv , resrciivo tsamiai.s- of 1824, and ':, in all its frm o " ab wiiination." f lu', parties luuk, tbmr rite ia tie Convention White we admit the power ol Conjjrett to lay and I hlcl framed Iho Conf iiution ; one btin in fa- l'.lecttlulie for revenue, on.! will nevr murmnr! vor'l establishing a Gjvernm,nt not v ry dis. at atrir.vmij just exercise of thU p m-r, we dor.y : ",",'llir '" that of England ; and Cm other being that the Whig m ij .ntv in the Nation .! L-i'iil iture . ,"r Republican form, such as was finally adopted, has any right 'whatever to i.npose a TarilT fr!'1 wns not however until during the administration protection ;w3 demr that tbrv-have any riht tojf ,h" Ftik-r Adams, that they arrayed (humdve tax the Cirmert and UlMrert of the cnantrv to well kf dmin.'live names. All who advocated tht the proSts of the m nufactniert. We (ni l that ; AdminlMtio-t (Jf Mr. Adatn, and .supported hit nil sucll partial Ionization is unoovtifjli'Mal, and ' meat-ires, trach at the Alien and Sednion law that it 'it unequal otid U'ijut in its ojra i nt on j '' futrltn.x system National Hank, A"..,l,o the peopln every where.and more ep-ri l!v on il.e.j" "mo ot I'e UratUl while, 'all o;.pos,;d to people oflhe Southern Si ales. We, therefore, call V,r- Adams nnd hi meure. wero called Repob on the farmer and laboring cia9o gerwrnl!, with- ; ficatis-or DJinocrals. It doe ool alter the cat, out regard to party distinctions heretofore existing,! ,,lU c l,;f;9tJ P?'Ue.t hat often since its.or;giti to units withtutitttie 0 to arrest the Uireatenijig .changed Us name, and as often attempted to Kivo evil bolore it become fvi late, an evil which not j new names to it opponents. Wiioaover its -lua.u only taktsthe hard earnings of the people. i j " have been delejtcd under one name, nnd that make the rich richer, and itio poor poorer," but , lca"o unpopular, they would immediately will bring d..seniom, and may br:g troubles ati4 J!,ri)w--'! .Jeaad,asM e.ierr-PhrrsrTiT tlie - civil waroftthe ofnitiTrv. " , sl,,r, lllC.v designated ihemsve Federals , JeWrrJ.Yhat we. 'confer the a-.t pae-J by . d"r,ns ",e 'f ' tho Whig majority at the l,!e F.xtrl ol h o the people in conttqoence of ih. conduct .Ingres, for d,v:j,n- out, nn.l givi,g awa, the ? -' K"nst ,non:, ansmg from the sale, ,,f the ,ml,he Cln LW trmominr?ttthTcmt1T Rn': aHerwuJs, when Adims n . . i i ii,, ,,,,;, nd I lav w-erc in p..wcr, end ihcv vrero foreioj ori ally, as a measure not or.iv roiiirary to llie spirit . ' ; r.L t,. , r..r,v i.-. country Protective lands and wild esheve, ..nr.m!.-,l i tlu, ,.n;,!t .Wrean l-it- litinn, th more so. sinr') t'n mon-y lateeded to ;e divided is not oi!y not taken from a I 'M Treas ury, hut from a Trean:y known to lie empty, ind since it gives n prettxt to the party in powe; i!) increase the burthen on tho pnop!- Resoltcd, Tliat ibisConventi.-inca'iC'.t in juttce t it principle withhold an expression f ilt u:i qualified condemtiation of the IJ.mkrujil I iw parsed hy the Uhlg majority at the l.xtia fc.-sn.:i ol Congress, a law which vio!.itM ail the oWiaat.on uT contract between Deh'or aid Creditor, and whieh i fratiffht-n-ith iho nvst dem.irabz.ns: :. feq-iexces to l':e ro'iiir.uiii v. ' e p'enee r.nrs' .m never tn ce3? o-ir oppo'iti-m t" ', !; ,! o-l-'ii- nct nhall lie repmled. and ex''tinu-.l iVom iti -tn:;!e Ro'iksof the en.fitry. JlrfiAted, That this (':. - i ' '. n t'.e i.u-'kn'g tyttem r.s n.v t-xis'i- i.i iho I ..itcJ Siaiet as one c-f t!ie pttiieipa! c.: i' - i.f ijl lite ihs p.u),' we J -n ii- ii.. i I hitii.ii , i h- eiir -"I ve? r-ever fcea'-eitif oj rn".i'in . I hriii, iiv Ml' h ('i: -'i' 'i "i.i I ! ! ma". I.e wit. .ii rnr p i-.: .'. -xj ! ' ti hi- r u fit rv, ' '!. ; ' it u'"d we I l!'.i--:ns i'' y:'. "T Ir-rii - i'. i' r vili n lofger ! ''.m.i . , ,., ; , ,... i: .ts atn .liCJL.ilJblLaXOil.e. ; Wiener. T -.v; - v '..( C.iMi'ituliei, ..f ti e I i.-.-.i -tl - .- 'm ; '; (tt I'.-t rntl'Ct ( I in" '. v l.oti.an saga i itv, I f.:li" ' .e . tl-. l I . '.' ,ll. l!' VT .-.;-e ' t A mere:, . ,v : .! C : ( ,,:.; tf '."n t'-C h ,f V. - : -'. .-!'.. t:,-.i 'I n.'iriv.rr t: I, n'i: In :.,i 'I tiirir . - i 'i ii i. or Fcd-r-d W U.n ".r:;;!.- head to almhi-h n i 1 1 n, thereby t ' i i' nrv ' i '. rr ir.'-riT, ati J p h-i ! ! ..-' t - .;, n. i .- ll-..-' ir.''- ' n"' i.1'1. :i i -,e ' ot ':.! i..ir JW. :.')t t ; t t !'!.i-ts. '! '(.', '! T'e-n! of it; ; Wi:-- in ("; h re sums to i'i li tr ;'' i"i;:'"V . I ''.i I'lrth wtiii to r- r.l I roC' df of l'i- I' ,! I Till A 'VVM li e e lis ordiniry inronie , . t "'v nrd r"'!' ' ' io. :i 1 1 1 t'.f . i I..'-. A'uy ot ti.ir'hv. i' ci, 'i t;t t'. V tin-'tie- f i l-irr-.Afig . i ".'j' 'I.i :i f 'i, a I ! " i1 I'I -i. I l.i" i i, iii i .t i i,. t ," I i m - -"'(. us it '.", rin i". mo I IO- ;H "r '..I'- . i , ; I'll . . . i ......... it . . . . "vney n usurinut terms, and for imposing ml--itnnal burthens on the country. The foregoing Resolutions wor unanimously -lopled by t!io Convention, and ordered to Aw mihMtud. . II. W. CONNOR, President. Cha. F. I'lMiEi,,,- Secretary.. :' AX ADDIlHSS Of the jb-irncrat'ic Convention, which met at Snlis Iviry on the SJOth day of May, 1812 to the People of North Carolina ' I'km.om CmEtvt: That out 'country It at present in a most deplorable condition, no man of intelligence, nnd candor wilf itcny, The People, every where nre greatly in debt, while the means of paying everyday become mnrc.dil!icult. 7 The prktM of produce, within the. last fifteen, months, nave i.ipidly dechrinUv-'-the'wupet of labor have due cased, and the farmer, and lalorinfclasea I'enerally, nuw experience in an extraordinary degree, the reality of 1,ard linie'H." Nor, It it any heuer with.the Governmont. Tho -realesemb.irraw'ments kxjtts in every branch of i1 . Tlio expenditure are increasing, and the revenues falhrtj; olf: the Public Treasury it Bankrupt, and Government cannot eveu horrow jnoney except on umirToDs terms. " .V-vor btforo tjneo the adop. ; Hon of the Constitution has the credit of the Go vernnient been lower, or the people more generally " dttlrejised. Why T thin ao V This at te of thiiigt eoulJ not have cmnn upon usby chince.' there must adcTiato cuutes for it. What are they t W cannot blame Puof lofi.vrK.'-fa? wf hayo been h!cs-cd with'ticu il health, and mortf llian usual antwerii. TIIL. CAI lAUSK.OP THE UAR&NES3 OF THE , ""'' . ( , TIMES. '" er."al Improvement, they changed to . no.-Kif ueputiiicam. t,:leatel again unoer lnis r.ame, fl.ey eiz;d on, an-! have appropriated to themselves, the nice venerated name ot Whig, a name sacred in the glorious recollectiont o! the Revolutionary War, but now prostilutL'd to party nurp'isrs. Rut though this patlv has ,if;en chamred its name. ,.Vor has changed its priiuiple-: he Federal, ttH f o-f , are Ihe Whigs of .N.,ni.r bus , lfie .,.,MiWicnn pnrtv clpsnc'-ti Us price. j.!e: -the . li,.,m',j,caiu of ITJH, are the D-norrats of the (n.s, -.t d ay. Tbrse two parties n.w, at f,rner. . ,v ,!,fl..r ;,,.!y 1:l tneir views .f ( i .veromeot ;.,nev. W e have already li'nt-td thai ttie p'eent , litres of the enniilry is o,v::i mainly to tho ; r'-Vdiewe i t V. his -'!icy ri Ihe cnunrilt of lha i rr:'Tii!( nid v.Ve li e. i rn-nf-nis. If vn v tl.eti tl tfM ti- re. ti: i'v f ill i .v l h 1 1 Tier il i. I'-pen'v rao never he res'o-ed to the ee'j i'rv H't'l n rliii ge i-f mca-ur? 'ii!l t tl.e phwe. and 'hf ca:'tiot he dune milil ih" m-n I-: p-,vvtr are char:" d t irned out, u.i ! nlh rs put in. I liat ill" ie. p:e -may ti'it be kreiv.- l in t ip r- ill e.nli -1 l-t.,rr' if, r.r d mav fii'lv o'nhr-'ui'l le- puneiiles -it g.l-.c, v vvih pfiei In --,(; he real ItT'.r nnw , fwni..r h'-f.vei n 'h1- !-., i ii thi' Vt in's ;i! the I -ii-; mil Tnrrrr. t.vsh 1 li: it IT.".,' tn.Hicj i, the -.ri: , f i1! t e ihvri---. i,i".v ..'.pr- s-t-i in-- iM-.wtrv. I.--L".:.-', oit I'lip,:'.; i n:si -i: nr. ! u -ww: ta'ii i'.t: ; ii; :. Wh: . a.-.; ii. t..v..r i,l i, .1 M,. . -'',. ii-i it i n", r i - i : Jlrrti .rruts .'ire np;.id n i m o - i'i I i Hie 1', iniini,; --v-f"'! as I'llll! li iSt.'l'. ::iirv ; V.i. io ,, t I'i l:-i- .1" ' Tl e !', i! i , l r. - I - s i.f the 'i lav or ot ,t Pri"!e-tiV: in I .v ,r i,l t.iiTi; a, l"r (rir'"e "I i T, in j'l'ij' i-t'-r ti-Ii ' i uiatih'.i- tnri's to t . n-: r !..hr;e!ts at lit. Tin' Ih-r.rrri:!t i.r.' i.,,i..ii i,. nh ililfs, rail (' mI'T :l t!.it it is ii- I'j-t to , I' ,,j,,e t,-r ntn i.'ie m ri.m'-iit 'r' a ! The ll hi:'' pre i (-'irpi've '. ui to - 'ii'miKTn in ii Ili'Tef,-;:!' i'i-, o-',l nr. rr , i, - ,.x ..,...,ji',,r,., ,, ',p (; jv.-rnt.i'-ui, so ns to em ion " ' rt , hoes t he brought in hy a In -h Pri'ecltie l';in!l ; -v hi!' . the Di uun-rn'- ti- f : br.'' i! ,'vu ' i", rxpv'i'T-iul 'tj to a l-iw "'in. i.i i ! of 1 1 ft ii. The 11 ii:- nre in f.,Vnr ff r?ati.'t' a .irgi X :t oinl l)it, it liavni h.en a inaiH'i t f their , irrce'i' rs of tho eld Federal partv', Im-! n .Vd ' ""ii )!', it a national blcssm;; ; ln- hema cats urn now, and always have b-rn opposed to jiionnl debts, except in t'.inos nf war, wheu Iher -r iv I.e a .ei-eMty lor ihcni ; liy Itilieve lh.it a. N.i'ioti'il Ileln m a national evil, alanxa l-at'n.g to h'gh t.ixei, end heavy bur'hrti, on the people. " t- ' i i -i(- i t. i , , .. ,. ':'!,. ! I '.'!. -. a.'i! ii. t.iv.ir nl -I I - - rin i. ' Tho lVais nre in fuvor of the Bankrupt law; me Democrats 'are now, 'and always have been utterly opposed lo it., ' - . The Whiqt are in favor of Mr. Clay's proposi. tinn to change our Government, by abolishing ono . of tho greatest safeguards in it against Congres sional usurpations; that is, the right of the Presi dent to arrest by hit veto an unconstitutional, or an tmwiHo law. The Democrjtt are for preserving the Constitution pure, and undcliled ns it came from the hand of Washington, and the other great Lincn who fraWd it. . . " , Tho XYhigt patuc-l a law at (he Extra Session lo distribute and cive away lha proceed of the P.ihlics Lntid. The Domocrati are imposed to this, beeauso they believe Congress has no consti. tiitmuHl rigtit to do it, and becnuso it Ine proceeds of tha lands aro given away, the vacancy must bo supplied by tuxes otilho peoplo. t The Wi'iigt passed a law giving to Mrs. Harri son a present of $-J5,000, Tlw Democrat ore opposed to this, not so much on account of the money as of the precede' tit Introduced by it i it is an "entering wedge to introduce the Drittsh pension system iut this country, and as such ought to be resitted by all who da not desire to sco the many taxed for. the support ot a favorite few. Besides these, ihero aro still other point on winch Iho two parties differ. some of them of vital importance. Tho limits of this address how evr wili not admit of their full discussion here. We can only allude to thorn, THE BANKIXG SYSTEM AND A NATIONAL RANK. Of all iho, causes that have conspired lo brinjr ah nit tho evth tines now o universally felt the I? inking sviiioinjiii done most. Thai this scheme t making money without work, it the offspring of Fe leral or Whig policy, no candid man will deny It din-t mil nlierllie'caso that' in former year' a few ol the opposite party, may have favoured Ranks; this it a int-re exception A a general truth it is I be mid dispute, that im Federal or, Whig party Jliavc always been tho advocate of tho Ranking ' stem, while 4be Democratic party have at uni . lormly beon ,)pmsel to if. That this i now the case, every candid reader may toon ascertain for l himself; lot him but look around the circle of his , .icmiaiuMiieo, and see who own tho Banks! who ! have the management of them ! who are the Pi 'rectors and Cashiers ! I lo will find that ninety I nine out of every hundred are U7ug. L't him ! look at umrther fact: who bare encouraged the ! Ranks in tietr la,lesi course for ihspast five year j and who bave been striving lo bring them In a ; sense oi' tneir duty! The Legislature in every j Stale in the Union where the Democrats hare had j ttie majority, liat passed law compelling the Ranks , to resume Sjx'cie piyux-nts. and comply wilh their obligations, wtule this bar not been done' j by a single Legislature whor le Whigs had con . trol. Everywhere the Democrat have been in j favour of compelling tb Hank to have regard to the '-'bligation, of Iheirciiarters, and, everywhere, tne Whig have been nv Uvoir of permitting them to do as tney pleased. I it wroo then to say, ttinl liie H.:fi:is are the offspring, and favorite of Whig io!icy Hint tha aro mist I y owned, and generally managed by Whigs? Let the people oiswer. lint Vh.ro we exp o further the eflect of Ihe Rrf'ikin -. -t"ni -si the. country lei u enqnire what i -i a Hash ? When a lar i.er or mechanic hv hard work saves a little m t iiio-ihv juai no 1'iiinnniaieiy neeis, j i.i t -'-'i-.a i y ik irn iiiiuiLni, 1111; law iuiuiu? Ins taliiiii. tu ire tn.in si pr rent lor tho of it. j ll h., l ikes more, n m uniry, and ho forleits hi l m-niey, ho-ides Is-ite; -.nhj-ct lo a severe penalty. . It is Mit so w t . the IJ.i.k.. A few knowm men , have uii i ! . to lend, hut tlicy aro not willing to 4-uke-si -per- c ent -itere-4 ; what ao they do! ; Why, they o lo V)" Leixla'ure or to Cougret, 1 and pr-enre a charter dr.. a B tuk. -Tbbt chsris ratitti iri.'s them to make three piper dollars for ! ev.jrv sp?cio dolL-.r tlicy put into the Banks, cr pre- (-u i in in, and Ihen thev loin nut thesu paper i (ioliitr-i, t'iliop (he Liferent m aJvance, making ' nea'U iw-.-oiy one per cent on tneir tno:i"y. Thus, i ,ilj3e iiruKrmouoy to j the Rankers money draw nearly twenty one per i -"lt. It nmy be objected lo tins, Hint the Bank jcis' iln if'1, re diz? IwcntVcone er cent, ibal they ! d.i not ml tibial iiiucii ui'o thinr pockets, tins rii . !): io, hut it dor not niter the case. It j'n. ' t-rs net who puts the nrm-y into their pock e's whether 6tockh ider, Directors, or Cash j i' rt it : enough to !nnw that it com" out of ; i he p'j.'Iiv's of the p"o;.!e. j Ai: itlior advantage I'na tin banker h is over the I truer i tin.-: it ' i!,e Hank IiijIJs lha f.irmcr'i, nil the fanner' nroiiertv it Uo ml for Hie , ih J.t ; li it when t .e llirmer holds the note of the I Rtiik, po nart oi tile stivkhohliir't projKrly is im,ji:l f .r i ; he miv be cti-h, stni tin' Bank I I iso! viMt. Th-re arc many nsM ces v. in-rc B inks i na'.e fnii-.l, .I. ! iap-! iuta havo I hi ihomtaiidt by ; them, whi!- to- stiHtk'i !d-rt vvitnpleuiy ' moucy, nod iibnadsnce ni Tii;-r!v were n il liable lilr a : Tit of the ISr.'a's di h'. We bavo a Kri!iin ' x miple of this m Ihe I';, !'! S: ites I!, ok. Tnat "I r il l lll-ll'u'l' Iris lii-i'd ,r nnihnns -iimti) in ir ' .id ivxs and orphans have lost their all bv H. i:: ; ;:te t.o-v rcd-jccd to wr-ti-,edoet nnd wint, vin.e Ni.-'i d-ii I'm MI' and i.u ptrincrt, ahoutil i vveaitn, an I r -v ! in 1 xury. I his is l in!vi.i : "I to t!v ri.w, nnd (h't'.'.' d to' is .1 pi.Viieg. er;ii,"" lo toi- ri.w, n e MANV : .1 .'. ,.i ,! I l.n' VVU i rimtriv.-nici: ,v wtuth the n.u ninnj- tu eniiveri tn ih'irown .i-e i ,e proiits of l lie l ib , i r n tho'e vjt.h j do work. -ot o i without l .ie Whiis av, that vr- cantnt Ilintis. flow did our for alHorsd i Hiihonl i:ir Til I n;' t.r-.'i-hthr ill,. I 1 1 .nil t r.iVol iti'in iry w ir, -they , ,o country, and ac:ii"vcd , 11 r '-i, i-,--nl! will, ml tin: li.-.i.i nl a , l.'Vi'r I : I il i i! I s I'-'l in . tie Ii link of North Aineri'-s, in ent into operation in thr . i- i, l'lll, Wl ti "K, I'-it lo f n a capital of oulv about 8JlU00. e il! iis iiceesors, noon mnd- I'splf I in ',' ii. C'lTiinuiiiiy where it did bosio A. i at,!e :ii r iieenho im jnthe. followini' v inw: tl.' nv, " I i li e yenr 17? I, the II ink ih.l ,i miis exieonv hum ; nnd bv tho Wi'inin" t IT"), tn- '-ll rv ut'i'jre it. ' its oporatiuus hejao to bo I'ney were mich ns I! in'iin has i , svs pro-luo'ri a t lentttiess c I nmnev. folio. i . hv ureal scarcity. uury, rum lo the many, r: i ,-. n the f-w.'' The -fi-cis of this single i ! mk were so veriy felt, 1'iat tin Legislature at t'i ' fid, nving S-ssi ui le.x'aled the Act of locorpo rtci. H it, th". moneyed interest even dt that miv nay w is t i.i n'roiig to be put d wn ; the ii iiK n.en ti nl I i-'ted tlio sweets o tlm system they Ind jiaio; u-eat profit without tho trouble, i: till oi fum nerce nr agricultutH), and they were ! doii-imiiK'd out in pivt up Ibis easy way of making , moiiev. I'hov seeordingly went fo work, they icoiiihined til their ellort, end in two year after, pr wiifen a re-incrpofanuii. I no ihiik .unertt r.avini imw eeoureil a snore ore fooiiujj in llie ci'intiv, lHan rspidly lo increase ;--!irtt one Hank, and then another wat cutaUishod,' until at Ihe beginning of tho war in 1912, there were no fewer lhan IVO Ranks in Iho United States, with a capital of 77 millions ol dollar. ' The war save an impulse to the system, and it continued to spread out its wing, anil talons. Who that is ol I enough will not recollect itiouo. nlorable effects ol the Banks on tho country at tho' close of Iho war, and (or several yvars al'lerwnrd ! Mr. Crawford, the Seerctury of tho Treasury in an able report made'lo Congress, state that in 1813 tho Bank had riotos in circulation to the amount of ok hundred and ten million ofJollart; and, that in 1310, they had called in all to about forty five niilhonsvthat is, in about threo year limo limy had withdrawir-fitrmrcirculalioii ix'y JiQt million of dollars. Tho elfrclsof this rapid con traction on the Country, wero awful --bankruptcy, and ruin spread over the land every where,all itflbred except the monies! few. Vultures latten when the murrain rages ; to usurer, and note shavers grow rich when distress prevail among ihe people. - Tho, Bank system would now havo cone down under the storm of public indignation. but for Ihe United Slates Bank, and the Protective TarilT, that cams to it rescue Even at it was, it received a serious check which kept it within bounds for several yoars. But it is not in tho na ture of ihe system' long to keep within bound. The Protective Tanfl of 1829, and 1932, the operations of the United States Bank in 1831-5, and '0,-and tho general example of that corrupt Institution; tho influx of money occasioned by State Joan in Europe, all united lo remove every restraint from, the local Bank. The system took a new start uaiiks sprung up cverywnere, they rote op on the fact of the country like bubbles on troubled water, they spnjid over the land like to Locusts of Egypt, and with the samo cflbct on it prosperity. Until in 19.17, there were no fewer than 901 Ranks in the United States, with a nominal capital of 400 millions of dollars. But tho system had now swollen to its utmost, and tbo crisis lor ira explosion wat at hand. In 1937 all the Ranks from one end of ihe Union lo tha other stopped payments, discontinued discounts, 'and set about calling in their note. There were at ihe time millions on millions or their note in circulation, all of whhU at once depreciated in the hands of Ihe people, some ten, some fifty per cent, while large amounts became a worthiest I rash to those who held them. ' But few of the honest workipg men of the coun try bavin? idea of what the American commu nity has lost by la Banking system. We will now call Ihe attention of the people lo these losses. LOSSES OF THE PEOPLE BY TIIE.BANKS. On ih 7 ih of January, 1511, the Senate o the United States directed the Secretary of the Trea siry lo report to Congress from the best informa 1 lion, what had been the losses of the People, and '( nC I hh tmfir0rnmni hu ill llU of llanka. fin titiA llth uf th following month, February, the Secro'H tar laid before Congress hi upoar, iu answer to the call of ihe Senate. From this nUo Dacumoot, it -appears, thai the ' people of the United States, between the year 179?, and 1840, had lost by the use of Rank more than three hundred and tiila tpj millioiu of dollar! The Secrotary shows all this in ihe most satisfactory manner from fact and document that aro beyond dispute. I he limits nf ibis ad dress jtill not allsw them to be spread oui)ierc,-r-but tho following Summary," taken from i lie I!.rhirt. will k!,fiuv it, wt,a! niftimrr llii, Lwun ..i;(u.et Summary of Iomcs ty llnnh. 1. Low by Hmk failure, . "I0S,So,7?l 2. L'wse by suMpontion of wpecie pay ments by banks.md eonsequont dsi v t preciat ion on their notes . 05,000,000 3. Losses by destruction of bank note , by accident . 7,121,332 4. Lss- by-roanterfcit bank tlftci, beyond leases by coin . j. Losses by fluctuation in bank cur. 4,411, 111 rencyailx ling prices, extravagance in living, sacrifice of properly, and by only a part of the other incidents ted above, at least 150,00(1,000 Aggregate, compute J . $305,401,407 PROFITS UP THE BANKS. , Wo have eln-ady teen what the peoplo of tlts United States have lost by the use of Banks ; now Id us see what the Bank have madoout of tho pc-;ilo. From Public Documents, it appear' ! That in Iti 10, there wero 'J)l Bank in tha ! United States. . I not these n iritis hau a notntuil capital o ah ait I l'i) inil'ioiis ol dollars. That they held Ihe bond of the peoplo f.tr aliit 500 nulliMiis of dollars. And lliat the .vgregile of spfeie in their vt ht A.is o-ilv ti'l millions of dullnr. It it certainly not unieatoti ible to estimate that tho Banks on an average m ike a pr. .fit of "vn per en I on (heir capital.- This wul.l mnko tiieir incime 40 millionti of dollar pci year, or, seven millions-iii'ir: tha.i a!! the p'-cn- in tln-ir vault in 1 c Id. Ijring th' two lad years of Mr. Van Daren's anministra -ion, mo tax patu ny run p-np!n to ttie Federal i iovernment, did not on n.i aver.iiie i t I-.. ..... i -i 'ened 1 .VI per head ; while, the tax pat-l to tna Bank i-tcni (luring the same periid, wat inoia hnn I per h' 'ail Ii is qutstmnaM', wlieiljer toe wfvde c'i'ton crop, ' 1",,,'nt l'ie prtiicnt reduced prices, v,!l bring ' Int.. (fl.l f iV.Iri, II . MiitrOt lMlli ... 11-.1 ..... i.i,-. ni., .. t-i in iiiiiviii .... .,.,1 -i -. i-iijini iqy the Binks ; -the links without work, miko more j than a!! the eotto i raisers in the I nited .StaleS' by nil thnr toil nt:d labor. - , , ie lie-wl n i l Irani of th-s Tiaiiklnrf vtem may b': pl-iced iins I no Fiiit. il State. Bank. I's t,ck nuijtiy ovvmd by f.irctgners, wliq hid u Jvirij, .''iieu in '.oiiitnnii with our f"np!e, or '.)re fir or fl iveriiu.etit. The il ink itaelf wat man i;nl hv ns cerrtij t a set ol FinanOicrs a evt-r existed. After this Institution had for year waged war against the (lovernment, after having taken a lead in t ie piititiC.il contests of the day, bribing presses ! and buying up politicians, it became bankrupt, and f, I :d fir millions. Lvery dollar o( tho stock has ' b-en lost, nnd millions of itt notes hue fallen dead. ; id tho band of tho people. Il would fill n book in ! write the history ot thi corrupt Inilitution. Wo canti' t enter on ihe lnk hero, but reeom-nend to ! all who may wish lo sco the conduct ol this Bank painted in its true colors, to read the lelter of tU I Hon. Louis i). Henry on accepting iho nomination j as Democratic candidate for next Governor. If t tltcre Iw anv nl llm freemen of North Carolina who have n I jet read this clear, cnrnprehonsiv", nnd able loiter, wo ray lo such, roM iit until you can procuro it, and then act down and re id it thoroughly. rrom mw nmviry i lianua nirrnny presented, j all may r-eo how much they have contributed to produce Iho difficult ips Hint now oppress tho coun. Iry Rank hut make mor.ey plenty by the facili ties they ailord, people run m now, enter into speculations, and become extravagant then comet I.. n 'Pl. rtnka tutftin In fntil .uo I M.ll ilia fcuiv. iiw '"""- - van m their notes, and money becomes scarce; tuaing begins, note inavers, auu usurers, ki io work; sheriflt and constable are turued looie; and ruip and distress fill Ihe country. These aro the fruits uf the Banking system, and this ystein is tho offspring of Whig policy w,0 Whig policy then may be justly attributed th trouble ol the times. From whnt we havo seen, and felt of the ehVt of a United States Bank, it "it wio lo establish an. oilier in Ibis country! Iho UAt say it is,-. the Dcmucruta say not, ond, tho peoplo n.u decide. j THE NEW TARIFF-MORE TAXE3. When the Whig leader were sockiog power ia 1810, they promised, if elected, to reduco the burthen on ihe people ; but on petting into power one of their first acts at the Exirn8esion, was to increase. these burthens; and they are not even satisfied with I his, but have again brought before the present Session of Congres another Tariff B to raise the taxes still higher. -This new Tariff Bill not only violate Ihe Compromise Act of 1833, in the most shameful manner, but proposes lo brin back on the people Ihe abominable protective pnli. cy of 1832, and to lay taxes not for Ihe support of Government, but lo fill the pockots of the great manufacturers. . This Bill as roporlod by the? Whig Committee, . proposes Iho following import duties, tlmt is, to make Ihe peoplo pay the following laxos, to wit on iro.i, twenty-five dollar per ton ; on cut nailr, three cent per paund; on wrought nails, four cents per pound ; on mlt, ten cents per bushel ; on lead, two and-a half cents per pmm.l j on ernuoi ngar, two cents per pound; on lump and no tugar, six cents per pound ; on common cotton ihtrting, such a now sells at 8 lo '12 cents per yard, the tax is lo be six cent per square yard ; on coarse ealieoet or prints, seven and a half cents per yard ; on window qLtu 8 by 10, per hundred square foot, two dollar and forty cent ; on wool. ' len cloths, of Ihe quality generally used oy the common peoplo, forty per cent, that is, forty cents in the dollar. ; For the purpose of throwing Just into the eyet of the farmers, the Bill further proposes Iho follow ing impost duties, yir ; on trratid porlr, two cents per pound ; on baeoii, three cents per pound ; on butler, five centt per pound ; on four 50 cents per 112 pounds ; on varaMwenty.five cents per bushel Theso nr but a few of ihe new taxes th Wh!- leader in Congrcsj now propose lo lay, but they are enough iq show the people what ft intended, -, and what they may expect ifShe Whig rontinne in power The object in jmpottog ihfcse taxes r, , and the rflact will be, to raise ihe piloai on what. " ever Iho farmer bavo lo bay, and lo let-en, the rfcm on t whatever thejr have to sell. Now, th Democrats do: not object to Paving Inxe for ' tile rcannob!e ifijfparf "oQSoverriii cni, but thev are utterly npposed ts- pSA'ingtaxcs to I enrich Iho manufacturer. A high duty on foreign ' I ..uula .w.nn,Ma .ill. r.i ..k . U . . . T I ' J enables ho Northern, manufactories j. ctiare IJmore for all they sell. Our orefathers' In estab 'shing ,no Constitution, ntendod-to secure eq ial i rights io an ciasss oi ine Community-but tin j new Protective .Tariff imp e high laxes on iho j cultiviilorsnf the loil, and irjcohamcs, for the henefit nl great op;tali4, who fiikve invested Ihoir millior.s ii i splendid m inufaciurin esiaWishmcntt : .It i, lasmg mc hhnu i;'mioiiiy lor lew ricii nionev. holders. W hy houhl lho-lhrmer, mechanic,)! J other rlssses he taxed for tho lencfit ol the ' manufacturer! I 7 J"T"r i - ' y Besnies the great injustice of lbs protective . policy," we obj-ct to it on another groundT bk", the Banking system, it creates a privileged cW of .an in ihe country, end wfll mmrjly iubvert ihe very nature ol one tiovernmeul itself. The Reiiublican portion of the Committee of Mjiiiifacv lures, in their report gaint iheso high dutie, have laken Ibis view of (he qfesttu, Init have furnished several striking example nt the i ll-cts uif lMs-rsrtswri KtlSfsnd t TdirreT iri.i riladt iln i. - ' - ltw rich, and the wnny pmr ; ihero Iho rich axe very rich, and lbs poor atei'reieltcij! poor. I.-t every Iriend of equal right read and consider the followirlg extract irorn IIMfttorifyTleport oj the Commilf, On ' Manufacture," submiued M Congress on tlx 3 b of ,My, le 12, psjet 4 sod y. As evidence of the cfTeel of this system npon Uie Unre Undlioldrs p J upon tiie dsy Isb-iror In V,:f'Un ', ; Hi' have only to turn taa Dewtp- r ol tlisl co'iuin, winch (1:iJs it wsy in thia Ai an inmice nearest n j hand, we give th loTldwing extract fr.jiii an Ivighali .rrP"r. in ttie.Natiooal Inttlltg-ncer of ti e i9li !mtni! & j -It w said that, by the dctlh of the kt Dn'-e of j Clevelan l, liw eldest ton SnrceeJ uiQ,(KO a er. , i or nearlv 'Klil.bO0; Lord Wilbam I'swl U lissa ! ry of jL'VUVUrt, ot mare than $r,.) MkWr t V l( I i I Urvey ano berof jEU'I.IKHI. or upwardsof '.',IKHl.ni'H; ! t'lerc is a lejacol .1K).0J,I, or nesrty I.0.y,dmt, 1 1 a irni!onj,lhe IXio-ager has the Versi-inre itaicV j the hmi m fjmioh, and an Itamenst; soviiot of fii, i jewelry, and tnrpiture. A larje portion of Jfie linen- iiih d eate iii Durham poet to one or his dauii iter i Its Wrace, it is said, had l,,iiO,uVl, ,Uul I'Mt-sV IKK) '.n the tl per cent. enma!, bstdr' pialc ami )" Iry nth vlu.; ufJti.Wl.ll.VI.' " ' I.i the fumt paper e lin l tiie death of lh M.r j i s uf llertfiNr lannatlncd, Willi Ih" ri:urk l'ial,lie Ui'-J worlii Jvl.O-KIHIl. or np-.vsrdj of !), X) 1,1 sKl, i . '. " Now, let u view the reverse sn!. nf tin; pictnr We I'.t'ract the lollowitii;, do n tho iri pipvr at lund. as a recent repurL Tiie case slatinj are acwtujaoici hy ohersof like chart",-. er, ami are, no iloiiM, true representationa ol thousand and ten oithniand of canes in Kngland, Sco Ion , and Ireland : " ' It u peep into the report of tho poor law rum mistinnors, thai wt tniy the belter unilerlii'l thi m w diirtrine, which tiie luiuiinity ol trei Ilrilaui h -'hoii t, etirati on the liwof ualmu. "' i new i out iiinioucrt vinitst i.n; prvir in sIchI'-h nl wr-'lctiiHlnet, and ttie following aro a I'"'.' ' of !-. fct tetected fro-n th"ir report : j " 'One witness says: M t n eouuted a kJ laborer, I and when (tier is iioloyme:,l tn he hid, I IH aMnm , iJ e'. am idie for about liiree inn.ith . j in llm year, on sn average. In tha b'j.-iiiumj ol ' j 3ummer 1 wt idlu f ir three week, ot)s day ter "' other. I had no pr --union. I .i!d every orue'e in m' ! house, rather than let my wife go out : ymi may bt ' ' J wo est th price nl lliom very spirtngty ; at la I 1 j Ihe pot I had lo IsmI my potatoes, and 1 wa!l;e I oat "' the door myself, my wile am six children W o vvei,' I olf where wo were not known, and begged.' j " ' Another says : ' I would enpape Ua wirk a! Ii' i"' every day in tho yeir lor eiht pounds, without I.! "" j siipjiort of ny kind.' " ' Annihr r, in answer to Iho question, do your limii ly tjanerilly use ini'k with their pitatocs, says : ' Milk, sir! I solemnly declare, before my neighbor le'te, tint I hove boon lying in my bed, having blister after blister on me, and did not drin't a quirt of milk, but cit i"1'-to-s and i-alt herrings, and had nndrink but cold wit"r. A great many nf us vvniild pray llm Almighty tnti'i" us ntr; it would h hotter lor us than lo live in o Pn " erty and need.' " Here, wo hav.o a simple of tho -II.!Ci of ; P- ' tnetive policy, and of ii'H-qnal lawt in kalian". We sco the privileged t r.w, vUmg in riehe : , wrou, front th hard earnings of llm Mvj wo i X 1 1.
Western Carolinian (Salisbury, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
June 17, 1842, edition 1
2
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