r..
t
- f
4. -
OIT Til E HAITI! : QUED-TIOXj
- Which .too!! pi :.ce in the Hoir 3 of Commonf roxsDecV 29, lojzu. tv
v Here the nwc sec, that the a cry prinriple'on -whirh ;tbef;Banks
. ; was established as that jt slmuld-sup)lyJthb:Sfate;utti a'aoumU
"if culafiuiiwith -Bank'notea coiiWUblc-iiitotftWcie;.Haft;'tIie
- State Hank or citneivpf jttijr Dtljpr$iIotir tliis;tHaur currency;
- in any respect been 4mprpved by the chjtnflc ? . :"He thought nolfr'
But,iVtsWt alone in the VrctmstViircvhirh brgughtihese ;Bwfe
into exr;tence; that find .the Obligation tbfpay pcrc.VUbY$
'iuto?tie charter of the. Slate BaiikV;"' will ef Miatsali Vas
the' cxpreVcontemplatloti F:Ctlfo;iawy, "Why, rbythed jecfion,
; was it required tbattthree-fourths; "of the sfnek should lie tyaiclVjn
'.gnld-apd silver, if it wiis not intended thaClt should becomejap'e,
? ci e Tja;",i? ba ok ?; And Sh a It ! ismcan by t te5tfi -section, f tdoei
not meat that the rVnsaCtions1ofth tfioseof 7a'
inpccicpaylbg Bank sl(rVlhVchaVtcr itself, and'ajj tlie qir
cumstanres under: which it yas-esaktfshed; laiulyshow ihat vlf
1 wnii intended he tibotbertlfank specie pay iugBank;; :Bttfsaid
, ilr. 7 independent of theyleWs tlieie Banks &.aHtotjiStSk'H
worthy or theTname,,on'gct?
'r .Their notes iueae.This obligation arfsea, frbm thcHf?face
, and tenoivothe? hills ;from.tie condition which givescuryency,
to their notes; "i The holder tof a Bank-bilHias perfect rightrest-l
ins on the face of .the bill itself, to return it to the Bank and de-
v-- rnano luefipecie-wneiiever pe maypiease: Tn uo;so, ;anu;ioisreauy
x" I convetibi1iiy into croht and silver i the, first .requwiteof a icood
-lire iiuuer:nomore'MJUiiCTiionsHa'naT''8nfcieioru!eir;noie
any "iomirion individual Sirv.wlio 'ever. heard of ra Bahk esta
iie.ueggea the gcnttemart'ft parupn-rroe nao oncenearo. 01. sucn a
15 ank; . ?J It vtfas tle.f ltdcoon Bank9 estahlislied ; somen herein Nthe
. Banks bi lhat Stated 'By jhe chapter: nf that Bank the capital slock
t-v 8t taiiyiVhe season
cording1y the first two or. three payments were made -io, real
nqjfde VaCootitskins. ; ;but,1 the story "goej,- towards .the; last,
; J : )0O'.skuiH be
4 - N. Carolina, and then the stockholder re put ,fo' their -shifts ;
hivvever they: m
I conn fails t 'nossum-skins." 'A; ; .'-1 - , ' 1
. Again,: coniji,uedMr R it is alleged that the; Legislature hive,
;: ho nowriv to pass" it la w calling thei-Banks td an -accountrand !in
case ot PTirfeiture of cliarter to provide for the disposition' of their
-cftVcfs-'fc-';He was iio lawyer, and professed UTknowjbut littleiabout
rt r ?& ww' xWere: he to ofTer: his opinion on a qucsjionfot; la w, he. might
i'V inoVrvtiie;cliargetof presumitionr andposs
newbern; m'terht bristle-up and say.vWho dare talk of war in
ici YrstnPC; t0.a post I disj.:-ow llsem, thi: .. Thera Ltnnd: a
)utgo bump your Ijc.uI igainnt it,.ad youMl he tit t' f:nd that
t -t. . Tl" a HL2 r.am inn rv process of Miiihr:. said
it ia real in :t. ' 3'' a HLo r,ummrry procesof
Ir.F. . disprove all-ttha ncutleincti nave nam cout uiese oetng
Let them look around ;tljrbugh'. the
fine and. prosper!
, . i w. ": r
couutry4rr-Vead the advertisementsr ot ijerilisaiiuonstauies, ser
up nt iit every public?place,attei(d:the , sale-days and setf the a
crlfice" of iironertv.i-lbok atjhe-'crowds offyour fellow-citizens
sold out onhoiiHP. and home rsee them.witb, theirj;laratlies .bidding;
fai ewjl totheiivna ti vq land: and we nding theirvay fii)iTOv
and heavy-hearted, io- .dintant, States look at all this, and si
say,
i. you can,iiiaixnese are iiui uuru auu iushtwohh uiiivcv 'r- "
ynu they will soon be.better ? (5b look atthe dockets of y oh r Courts.
Look to Edenton;vwJierebutthe;oth!r; 1opno Qoo'rt werc
retunied:foVty-ronVvrits,ln favbrof the '3iate4-Bankror?a -sum
exceeding 45B(J,00O :8n3ctiave youijiol heardprtb;oiiCy; order that
tbeVame Bank iia. sentjoutfofj-tlrigor
whole;debt in ten Vqual instalments ''ffiUzr"'
Fine times indeed! Yes, thev are fine timesTorHhe lat, pursy
stockholder who jmutrohd;ym
Wi-ifiraT nf nroiierf vs-fur tlie note-shavers land Tnbrtejr brokers; for.
slierinVcoiistables andawyei -wlio thHve on;:therufferingsI
their.fellbvr; beings bjit for 1 lie people atlarge, tliey' are, sadlyc
ing: more to 'depopulate the Stati to-ilqve.your citizeiis to' the
WfsVthan. alllother cV either'di
Vctly, or indirect lyh caiisercrushjngrthou
men after they, have beetilsveptr.their;all," have spirit; br moral
courage to i-emain urthemidst ofc rttlieir fu inswhere every thing'
rnnrflpre
reminds them of their former prosperity they willgquiMhe place
of their attachment, ;Tand with:; their Viyes.. and ;their"littlene?,v
seek :at borne in a distant Jaud-w here the destinies bf-tlie people
are nbt Jn the hainl of a 'feW Bailk Director.. kV i, c U
f The htlemair frrtm
remai-KS, lias iniormeu os, inai .pre nii ui'inq aroiuwur
. - i " .i-i '' coon rrY - : ; ..r
circulating- meiuiim uiu iwi r.cerM dpuvjwu ,wiumi ivjfv
ficfent for allpurjibses f aiictTmm thi$; he-8iippbsed,sttie -gentleman
wished tb:dmvvt
bovv. JVlr. awain liere.expiaineu,' inarms statements were, mis?
taken, ; and
the explanatij did bbtvary . thereply. : The tiqie Waslwhen the
cireulationlofheiStatedid n
and since 1 8 1 0," W fb changes have taken Vpla'ce'Jii the' State- ; po
nuiaiion anu ousiuessvOjLAaii ikiiiu iiavir.uui(;vjiav(iiii;j cak-u,stuM
ger.of
1 it .rescue
Dlev ana
.When. iti 4814, the storms of foreign irivasiomthickened bu'o
coast r when .the! yeilirtgjsayages oeset ;our;westem boi-ders, and
wueoj
treason sagainst tiie uovernmeui waoaruse in ?their might, aud
saved
these- necessarily require airj ncrease inSthe .amount if circulation
But tlrvgentlcman further states tlia we are not as bad off now
as we -were in" 1 81 8-l-forthen, the people owed the Banks nearly,
brjquitemillion of dollars ihore" than" they mow ;dWe tliemWill
thegentlernan ;not cbllecU that thenM ljl8;) therelwas art
amount of notes iiKrirxulattonVast)y.raore cthan present '?-
that tlfen the labor of man yielded; double in' value to whatJt now
does r that priuuc ana properly men orougn i Deiier;pricesj;antt
yvorso man air, jtii oiuc-iiuv uauors,atJtne ; norin, plotted
the Republic? ;:Who,: out the people,; arid the' peonleVre.
esentatiVes :v;-Ha " u '.:r.-' .
r' Pir, slittll we distrnst the;piopie,,or their representatives, while
bur,e'ars are -yet Ti nging with: the acclamations f the late, glorious
triumph rollndulge. no 'such vdistrust;v.Tbe neopliyin parts.
lti iieigiioouriiooosF-eveii iowuuierUisiriiuacuug;unuer parties
lair and?, temporary ;:eitC: it emeiitsmayj Mr a- season- errj-! and nftefi
do err ; , but. as a whole, thev iire seldom-wrongl hNo humatr max.
.the niWence.of Csar Thoufflr he had;great: irspect for the o-
! ; pinions of that gentlematu l(e li!;ewise had some confidence Iri the
'f Jegat onitms ;opotherswho' subject.
liiesegeiitle
tfon, aud)hebeHeVcd itlT-LeatingJt -to other gentlemen i in the
' House to' readufi Jaw authorities bnV'the sbjectf";lVIr. F. said,, he
-ubuld ".Wc'uV .-tdf' tfe rules 5fximmotf sense-r-Wbat Sir.' said hbV has
itirbme to this,!-Has therXegislature of, North-Carolina created I
.
; : ivcurporaiion uai nas fiingruwir me iav i , , niiH.ine crcuiurcW'
cmne greatcVthan the "Creator? T Hav we , bwn'sblongdandled
k ?inllie lap f Vhin inbdern Delila as to brcoine shorn of our lock.s
ftinl' lr ft to the; meiy; of jbe BanyitiliHtines i,:If Ro;v we have in
J 2 deed reached a' strange' pass we may cease to talk of ouirjinde-
S ppirdrnrc aird.freedomfoKit i alijajmr iwe- are not; fiee,'but
v - the' subjects of thelBanks, .ButSiry tot have the.,power deny it
-tvlin VinV t Is Ti roasotiable nower. it is: ohe that has been exer-
" JDarieh
'V the hands of tire stockholders and placeu in tlie hands ot Couimis
: 'doners. ;We propose Joing no more,; After tisitig every a'rgii
f. nent they could jtliihlr ofto;persuade us,; we have' not the power
1 lb aCtVand to scare oV from acting, 4 be gentlemen take tlie other
tack.Vand sayreven if we had the po w er, there, is'nd necessity for
' rm .I.T. i ' i I t n 41 e Mlllffl k. St Willi t ft,- it It . flft' ffjvfl " - 1 1 n , fifafn hut tin
vCnlready iif a very- pmsperous.cbnditionjTes.Sir, they tell usy that
, fthe p
f .,!' How do tliey prove it ?;:The gentleman fmm'HaiilTak.Mf. Spru
r: IW4) tells' ns that tiie last crop was ery fine indeedmucli "better
- thanusuaUv MivFi'said, he had the; otlier day jentet-fed hkto ca
' Tufaf ion's to show rthr extent of relief that might be.Vxpected from the
new crop ; lie inuutfiii nc uau urcii very uucrai in ms uaiuuiaiioni
r ft 'ratnvr VAii'uviffisT .ill ' iiik .1 i h i - maiia. '. ! ci a - mi iw .
getitldman frbm'Halifax ouufigored.the wholc'of Jhcm. HefpUts
; v . the; 1 ast crppf ;Cbt ton jJbwii'at t wo ini U ions of ..dollars. To make
this.'you
--.county in the oiaie.t xms ne. uiriioeuwas 100 viaree- lor.t
. 'veai l aud Miarticularly for. the last '.The crop of-Corn and
" crain" was fine; hutJa$'t6 Cottbni . iherer were not as many
tilanted as during sotne-lU'vious years, hor-Was theVyield to'
any
small
acres
the
' ucre 'as great ;MrF. noticed; and remarked,- on other, parts' of
'' 11IC CaltUlHUOrt irruaciiii-u w t - . nil v iac rtirtiJ-uiiiuicmcu i
Jeoine of .theV-calctilatiofjs made bx the gentleman front 'Newberrt,
t.r-pavtic!ulairly ;as Ao; tiieiboneytliatfwottld- be . brought i nioxthevState
Zbv the traffic in slaves? MivGastoiixpla1ned 'thatsome of his
j r:tatefnenls vere mistaken byt he gej that he
- Kiiad aid--biic; million, not 'two,f .would cbme in from that source;
. ' Mr. lV contended that even one million was top-large a suim!!
.:,MivF continued-tiiesc f gentlemen have iri'dcedSir,inacjiLqut
i'j the'State to-ba in a most floufishing'cdnditipnThey seem to ban-
'-Vdlojtnillions as a .juggler would coppers ; and lttlie members-of
-"this House hadot so recently come rom ambng the Apebpre-if
v they -could neitheo see nor hear of distresses. Ihen they might.pos
V " eibly be; persuaded Jh at we are. trula happy aiid prospering "peor
nle. , The fcentleman; from Newbern tells us thatrne aie1certain-
r ly n a;Jbcttetcondjtibn; nbw thatrwe have beeiii nee thejear
' 1816 sind this hb-labburs td make us believe.by his imposing ora -
w ith his fiuepeechen ; he may delight iis'with yelKtuVued,perioiLs
were reauy is.aie anu in general, iiiai jraue ,was oi isk. ana -pros-peHng?J"lti
fact,!the capactty, of jhedebto
than?treble what it np isJjso that th'e position'of Jlie gentleman
is w rong - Tlfe pebiiilk are not better off nlw thabv they were the n
I
neir auiiiiy to; pav luuuaiaiicc a! uiiiMiusueu in ai
ratio, fey -;Xv. r,- r? ;i f J
men,4 as they pass albngmake Jtia,pointLto strike a I
because they owe tire tBaiik less forijf their debt, has rsomeWhat
oiminisneu, v
much''gfe,ater
1 - The; cent lei
side-wipe at the Bill for k consolidation of the Banks. The cen
tleman fnim Buncombe, in particular appears alarmed afjhe vrfy
idea of this Bank ;';it seems -to be Jiis bugVa-b jo' w sorbrVaw
head and bhiodyi bones, to ijtenAhirn; : Let "him npt be alarmed.
--Th is - is ' t or, be uti - m am moth B a nk t the State is ':. h n o dan e-er
from this quarter. ,;Mr.,r (saldv ne regretted to see.one ot tpe ge:
netU intelligenceVpfilie ge
tlie; example of anothef memheh whV had sp(ku on ibis- 'subject
as to; pronounce sen tenceoii bill whlclir he had not examined, and
of course could not nnderstand. ?-aH7-. u .?
ITh on this part otlu subject,
obsened,lifrwe wished ti establish a Bank of the State; why not
do 8piscori'nected with. the existing Ba
much su r pr i sed to heah (th i $i rem a r k frpm th at gen tlemanh W h 6 is
too well informed on banking matters not to see, the effects of such
a measure
had a seat
remember
their' ills remark; would- come lti the JineTof ' his1 dutyi-for of all
plans that could be ailopteditb' help the existing Banks out oF their
difficulties; and rplace.theV;Stafe ..t in them,':that plan m iuld sopuest
itccom pi ishv t he object ; rf he t h i-ee exis t jug Ban liar no v o wc? t lie 3i
Siates.Bahk more, than g800,000. This debt canjbhly be paidith
specie, or i refunds equivalent to specie fit present thdy ha vr buta
small amount of such funds? but establish a Bauk oftheStatf, uncon
nected with these Bail ksissu'eyote"s,& redeem t
what tw ill follow? . )vhy, the; preseiitBaiks Would: only ha,e
to press their cleb tors a$little-driveHheni into the new Bajik---etj
a fast' as tliey canv the notes-of the new Bankoraw' Dot the spe
ci e,' nod pay o ff the. United States B ai jk. i Jl'he process is1 clear-Ji-it
i would" soon. drain tlie new 'Bank of eeryl hard dollar, tor force
it to stop specie payment: ; It .would moreover enabl the Existing
aatiKs lo.secure many 01 iiipi r oao cc uoubuui oeots, oy shittingthem'
on the new institution.' No, Isiri'wearenot'learned in bankinir
maiiei
gaci
. . ii inaigeniieman .couiii.ior a juomeui -forget, that he
m this House, as a Representative of the reoplc; and only
that he was Jiere as. President of the Newbern Bank.
s, 11 i uut', out up uoneu toe -ue.isiaiure nau too muth
ty to bef duped ino any (dan of this sort, i- - j v
iVIr. r. said he wuuidbriefly notice another remark of the cen-
1! U
' K he niayponr on our senses yjne luurtcaiuig ;sTreams.ot,Qiiy eio
Vf'tlds vrill Jiot:?oftcn the distress' ofthe people "it will not cor the
t hcarV-aCh of the sufTering ? hat !; will you tell ..tlie ,wretcli;whp
vVi is shivering in the icy blast n winter's storm, that hV is iibt:cold ?
r j Vili yon tell lilmwiio pants firjbreath beneath, .the 6urning:line
' T that he is' not oppressed with heat? Tlien,tel the.people of jifi
Carolina thevjire not distressed One .will believe you as soon
as'the.oheiV';;;v; ;rQX -vV- ::'t -TV
a iJnF. eaid tn
tbc tiroes are not oppressive,, reminded him, of the speculations of
: 1. M, .11.. "v I. U. I.:.. .1. l'. .1 i -
fully as much so astjiuse used by ;t be sc'etit femaii ' firalNew bemto
pmiethauherejs no distress in r the country. CStrajWas tt may
tleman trom INewuern. 1 hat gentleman, in his ?(rort to dissuade
us from legisla ti ug oil' thef subject, observed, ; i fypn :t w tsbtio act, i f
you wish to restrain ft he.- Banks, you iilreadv have the'" iiow-pi' ti
do sb.--Orbu;have Jfjas to the Stafe Bank, .in that sVction bf be
charter which graduates tlie votes of the stockholder!, ii Mi F.
uenieu most postiiviiyCiTiiai inepiaie couia control Uie statcBank
hy;i tsWote, any. incireS tliati a1 sm ai I miiioH ty cab, 7 i n4t fief? cases
Control a majority. How stands, the case ? By the tl" Section bf
the.Charteiv it-is provided iKat the State "shall hae the same
number of votes to : which Iht grea test number of Stocklioldei s may he
entitled possessing an equal number' of shares ivitii '4iQse owned bv
uiCyOiuiCiU utc tunc iy stwi- Gicww
shares in the State-Bank, is-I59r9 owned by V496 atockliolders.
yhere aiJ5 stockholders,' each owning Jess than 20, shades, aiid
together owning 25 1$ sirares leaving 1 60 pefrsins owning thft ImJ
lancelof the, stock. . .Tjiee'saa stockholders,' at the:la!st ineetin
wit, r 1095. Here tiieii,- are"3S5 stbckhojders owning Inul v 5 l S
shares, who Hilly et ;pff against the vbtp nf the State,! 'and leaVe
the:i60 of the largest stochblders,ovvnTng' 10,420 sliarevti throv
theirwhble. vote g:iinsf the State , and yet -the keutleinaiV: tells
us, that thcrt ate; in : its, vote; ,ca n. control the .Bank" ;MK: F; said,
he assetted it'on good authority; that biiorinerpccasions,1 when
ever the Sta
wasTiinifoinnly oiit-vbtedand sb it must'eVer bey. He would I now
culLthe attentiobotythe House to a fact, but little" fcnovVi-mii
that shows, the J rue .character and spirit bf- the" manageii of f tie
Statft: Bauk.l iir the "year .1824," tlie LegiSlatureHvas induced to
liana t&u itvt uiiiiiuriing ui" j, irtrasurtsr u empiuyuliie surplus Ti ids
of ther StateVUn-thpUrchase of the stocks of the several T 4nkj.
He Aould tiot now comment on;the policy of this measure, thonirft
in-ucntrycu umi u .was one orougni aoout ;oy management on the
pari oi me paiiKsior it evidently was. tpe sole, cause that kept
theirtdeks' frorc falling much lo ver thanthey had been : Under
this-actf;a iargc amount of stock 'had been i-purchased Tbr the
to
.Vih it..
cnnductaBank1
nemenf saidi,.
ex press 2 d by t ! 1 2 g e n tlcm a ! i fV ;n -1 ' e v. b e rn
Lpgisliik.rs to' elect-i :ri.oij :roperly "J -1
ot tlie btatc, should 013 oc cstaolishcd.
seem to 'think tliat there would Ijc notliii!
ment,
enter
hru Vd i ii 1 1 1 r I i 1 o 1 1 : 11 f .T 1 id -f q . (r o e. r n t ) r. Tre :i f ; u r A n ' ". ,1 . t
otiier officers nov-cliosen the Legislature- ',nd 3 ot;", have
Ween any ofthaVspecics bf corruptioii.gtiing tsn here .? .Hv bt liPv
not; often
sons wiliir,ff.
j to think tliat tIierev.;oud he 'nnthiur" L t vititrigcef -t:ianac
tand jl pandering," ( in nu 'ng cpprtntincuts. 2lrj? ;
rtained a difieicnt';pinion. He u;id, tlie.catae,fc2ir!?,mieJ;tKl
cu, mat uie, -piain..nonesi .men ol inc jucgiiaiuryciT3
misled,, by suclrpractices though: there might be per
a . l' tJ.YT4f. nN A .. , TI'I , i - urn r ii--4lnv f na , ' na tia tinf
I if IIIlSJcnUliiCii.v-"Jk ilia ihh ihv v uu uvNiitiU tiv
rations 01 0;loiai wanoi T t;iniuu en ce in me peopxu, ami jijcir ie.
pVeseiitatiVes'jThere arVjnany whp distrust the people, ".bt-ca
ttiWperple? distrust believed that '
Letrtslnt urS-j never acted u n wisely'orl the people ' i n snial I diVisInn,
never actvvrbnt?, buthiupeode;and!theiirf representatives" too a,
.genejaJy,ldiptisetl:5ti:dp,wtm
true tb:the cAusa'nf .fiwdpirifand just goveriimcnt. Vhenever hV
beard sr h ; distrustfu 1 dmibts against t be peopleind I heir repreV
sentativesV he cbuldnbt lielp";
. . . : w II
histbry lo see -if facts justinedhein.He could find uond'but thosA
tHat'lihoWNtlie character-oLthe people 111 a diherent point of vieu -
Who,. said lMri;F whetr liberty Clstarose iii;our laud not in
lie sniiies anu.suusinue uurarcn.-mii, vrapLvw'wn in? winds, and
herewith their liearKA warm .uioou r ne peonre, and the neo.
pleVrepresentatives f r ,: ,cn. . A- -.v
JiIitrieddUbtfuIiierindofsf
beiugsmotheivd byithe hydraof ; faction; who then fleVt
and placed 1 1 oice; more in satety i y ho, but lhe'-peo
fir i-epi-escntatives" ?tH"l--i-fK.-' :
im is; more true',' than the maxim, ftox popuhpox deu
r'.'T' IVf . fi: i-rinrfiiilnft ?Ki" tlu nk inp- Ihi. Llmmnit f fnr if a sltt pfitinn r
nd apblbgislnig for the length of hiy desultory "remarks; ' ;
"wrJKycAf Vaid,:h with,
an argiimeiit on' the subj
with areu'ments, and ' thei Committee : wrere alreidy.fatigued He
ion,r our pose me 0111 passeu, , anu uie sun corn-
UheBanksp-k jieniittq ;'eiid Canariy inan
will be tried at: the first termor After a decision
only Avishe'd to call the (attention 'of:the;Gbinmitteeto sojnpVibf tlie
consequences -wiiicn V wouiu result, irtui i.iiupaN?asc w uiu now
unuer consiiierai
ineuced against
su noose the suit
iii four? SupimeCourV. it wilf i iifall prbalility, be carried by
appeal to ; the Su preme 'Gouct oQ theiUnited States-when,then,
vwii I it end ?lvNot - in seyeratyearslv I n - the .mean .time,- what is to
become bf tlie debtors f'to'the' JJ anksi and ;tiiiAV( will:, the-public in-:
terest be affected tiy Jhev :8uit,??lTlia first inevitable efiect will be,'
tcV depreciate-' the notes of our Bahcs, now ; our orily circulating
medium, to an-unknown extentat;
til the final decision of-Uhe suitgainst ' h
tain all tlie pbw-erstandpri vileges vhicli the- noWrpossess, conse
quent ly wil 1 tiaveS i t ; in j thei r power 1 to, enforce pay men t Tro m all
the debtors by cSuitprbtherWise. W
ground that all; concerned in' the Bankgre dishonest, unprinci -pled
meCf If sb, they; will ha ye am pie titne,penditig tuesuit'to
secure tlieroselves 'and ruin theirdebtors. :..Butas honest liouora
ble men,they may be eipected t
Can aby man believe,5thattheT8toc
t hei row n, sa fety , vWlii le the siii t ragai ns 1 1 lie B an lis' 1 s go i non ?
Tlie nbtes : heidby ther Banks' arenot "inadeVpay able to thepv but
tp rndorseiYV -who liave "transferred -th
Wh at is;' tp pVeveji t t hese notes from bei ng' t ransfcr red - to stock.
hoIdeVs", and "collected: by:them jndividuallyi' "-vxl Vv -'
uegai genuemen, on one siue say mat an ticnis uue 10 ortrora
the Banks -will be? annihilated as soon " as tlievCourt;prn'bunces a
judgmciit bftfbrfeiture of chaiter
o'tlier side. x fH(i w;are wewjmre iiot lavveis, to decide ?--What
will be the undei-standing of thepeoplebilVthist uhiect ? They
Hyilhear of :ia i4iu W
.Rlif Wian' ftl il''ii'.n' t-n.-, Kami I- ' tl.'ix Ti L tL '? I.Vi.' .'.1! 1 1 L . .
possession
"-" 1 ''4".
. 'a. ' ' t 1
iiuuuiri ai wti; iimii,v liiiuu, un im.s SUoieCir WHICH
wereppallint?. i It is;atvlU tiines, sa dclicateinVtterJto interffre'
w i th 1 Mhefcirculatlngsmedium of ,a xountry. j If weidestrby diir pre- v
sent currency such ruin. must ensueliis jib "man can tc . . jec " l
tiomof suits wl :
to;conruipn.:.mightT sustaii l-nvu t Avhatlnra's Vpbeconie;df' the
:pebple-4-tle, planters, the J merchants, -.the mechanics ; He could
1101 coiiceiye now: the business ot the country could Id carried on
uu'derjiiirh circumstances ;v. . J - - - r ,
Norcnutdije'8ee;tfnyn fbr;adptijig-soc!i violent mea- -
suresIf theiaters
grantedlet jis now, by new enaptments; remedy-t he evils. - This
is our usual :CourseA. When abuses are" discovered new laws are
passed tpprevent, theij recti rrence:Ttis seemed to binY tobe the.
course poirited outj.by cbminosense a'nd, recommended hysoilnd ,
twlicy; vj After all, w hat Jiaveithep3anks dne 1 to require such a
jiazardous ciiurse as thene proposed; : iJurGc mini Uee- reports
that .seme (ifthem JiayeVu'baSed Upitedtaes Ban!; Stork'. - And
AvIat evil;
they Imil pUUsed'-.OAtfr)nrcahii"va&-
lime ior:iiisfcrop iian.iieotnerwise;cniu nave gotten,- iiat jne
B
anki had purcbased ujthf ir owtriibtesl at a i--discount-this,-:ti6.
anks say, av as done to raise the: value of theiiv notes c.l . r 'I &$
they cave. -wore' than others r would ei vev Vtia wan i ri i u iv :1 b " that ?
He did not pretend to justify the: Banks for .these-, opernti ohY : hut
iiistedthatjheevrils:.resiilttngilie ' t rv r'i s"to iu-
t ify so jiaifh, a tneasnre a's tbe;-one-.p ropbsedr - It v. nu : i rely suf
re-
ui in tui- inr jji'isiaiure, oy iiew- enaciuietJi to eiit
peCitiou" bf, tfieAfiVncesr.4 ' ' 1 ; , 1
, v i iiei 11 anKs; are . a I sp ch a vsxux Wi t h: ' h an n r re r i veil e.xch
j u lna unir ueaiei-s oeire: nicy, wouiu consent to irr.snt t..,
1 UI?
angci
rn loan V
'WC.a r H) . IS UsUI'Vi 1 I. nVPI'V I itP j 11a rpr.M V
lit our Courts tv Juslicei -irhc Banks aiV tts'Iifltilrt ti thft UsurV
lawsVs'fndividuals'wIle hadti! ! rstobd thatihpB.iiiks1ir.d aban-
doned'th'eo practico.lf . they had
ought now; to prbhibitit byftiew I.
thcXegislatui-e could, and
i.
v vi"". mk; ioi 11 appercp to nim, that.U v.-nui.i comport cei
ter.witji soiiud;wisdom,:to
ennctmentsVirather than lowbrow society into 'coufc dun 'jy adopt-,
ing the .course prbpo-ed. -The' latter intP-lit r-rntifv ii v.ish for veo-
p!it -ir rntifv'
geance;against jhe : Lapks, jbnt he was satisHeti f at tlie public in
tr rest would vhe? better consulted bv thii fm-mr i-nrsc. ' f'a fe7
cal-s, tiieCbarlei-sror iW present' Banks will osniiV. 'Bv t!iat"
ttme;.the.Avlmlo siibjectof Banks, would be! fullv b'eforo the Le-,
4'IUICl
'BanKis-