Newspapers / The Raleigh Register (Raleigh, … / May 10, 1830, edition 1 / Page 2
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. ' f . . . . ... . - .. ".. ' ....... ffrsV enWrtnrtrf Mils ot m.l bjU'e 'i? ",t h ? , Shite, -f-Z ; im "d ouKt ' oicpct f (V Sf Intended M A1?? t1; h , I L , i'M?ntti inrluifve. malcins period pf.fosty one. Sars,: - -'A- " , . ik . , 41 t.nAti thn rnnwennenfes Which ml. ; ? '835,375.1; Ji is(painiui j i wt.vvf'r -v" : v ; ,. , . , a '? ov ' . a ..:..:, , ...,.i r 'I tnir. are i isnosed to witness rji fr.'riitutrttfonVUut treasury riotw l.axe bsen; sb8titUted.n; . its sfciul.- .Tl.e'i-flcct bai bccn.to'.rlinge ..the sctwities .tiot to A a foiunVyMtrshiiuld.' be reillertrd. tl.ht e sold tA -i, -W:Wrf.vhthi..Cl.in 1713. by tllc,.rmusio.rorxS50,000:Tthe vr'wiK,;wim,3,ttii:l8?9,iby Mfiing,? mijlion.; Ordinary inilriVeW1'tt-yc?M.omd well to U,c' consequences. "'C BKoiid' it.fit.Mlure' siinilar.tesults, soraelliinR more may be neres ::r.r,r.vtn meet ibfcm', tbanHbeirovisioti qf;.S3pO,000 ol borrowed - 'MuT'Piinw Im pertnittcd.ta eiifimre of tlio.vpnerablp gentleiimn J -: 1 Onm Wilkes (M Sttokt)' Whf llicr wirh-lhcse ; facts before them, V v?'"flp firfnm ilrVbe-ConVtitution; bad nut ani1e reason, tojirobibit tiStH cuirrcny-oj Oie rmuitry. J v- .l j -Jeuve fui;thclworetlt coininetia to bis particular attcn ! ": tipn, ibe ;i!iiViiVf rVjMadisoiione of the most distinguished v-'- 4 - ntcmbtMVor tbQlCorvrnfiorVihat (f atned the Constitution, as to the V?t?;ihcafo in qtestion, (Mr. Swain here H f No. of the Federalist the fllo wing,extl-acti r which is here taken from the States j A.was tt'ft in their han'ds'by the confederation, as a concurrent right x. - Acithrf hat ut uonirress. unuerwi ccrinivi m In this instance, i'.irtbts specific Vndi irJ(mfticlicdon,: viy hH!ie faith of ths'SUte pledged for, thtiupport ofthe-Banhlfy it to-' give tlie'billfi cfrcdrtf; 4vnddo,Uiey"riof tbereby-bepotne; bills .of jcredit ?tvlt is pot denied rjoweicrthattbe bills jet a specific fund was provided for jheif redemption, guite.W yav lhable as ttie capitaVoftbis! rBankJ'and' If the relative atribuntf the: ttci)Mi in tfo-'ir!pf1- vnstlv more kiy. .' The spnonu section or the oil L wbirw bave uat reAdBhQvi94bcapitlAinwhich'afc.ir.iMi(m-ta-to 1 y iddd;foi; U redem suto An Apt i to I eriit owe ImtidreH tlioiisahd noiindt in!- paper cqfrency. for the par- mw,tiiq oiner suosianuai,oeiween me actoi T4in Art of '83, termsrtbe bills tii be'emitte bill of !j29, digiiifies its emission' Witlie a inri.H;.rrWrie.tn rpirulate the alloy and value the new provision,,!? an. improve uibih v vuc wj. unov .. :and valoeMependedon.the general authority, a right of coinage ' ftCf " 4 " in tlje pRrtir.ular otaTes,couiii nav nu umci cui uiau w ...i.fp.j 'p pensivl iWints artd diversify the form and weights (if the circolating l' " - piecc.th'ejatter inconveniencylefeats one purpose for whichj the ' piece t . povprvas . .. mer mi poses'oF'gp vernVnent 'Top; 17 63, fh Jlie , re(lemption -of: jper current cyMiownircuiati6V,Iand,f(ir advancing tbOiContihentaKofficers ' anu st)iuiers nart ui iiieir imv anu tjuutji'siciice ou ivr iuuwx u m, nnd AipprajHating tkb mrffisfaled property for the redemption ofy Ike money now to oe eminent pirrerious aqis ox Asscinuiy nan appro priated the e;fti re public domain, comprising" the; entire State lot .Tennessee, to Uie redemptioh of the paper currency arid certificate jicui. ,1 ucrjc oixnr u ine uui points oi uiureoue, mic imun- 1 M"4 oc mis um hi ioy. dpflpr currency.9 The ppellation of Bank Mlts. The-former, provides a substantial speeUkfuhd for the redemption oi lis issues, ine laiier is less parucuiar m mis regaru, iui super adds & pledge of faith. And yret it j is admitted thcrhier were bills of credit, and contended that the latter are not! ; aX.Uq advocates of this measure, said Mr. S. urged its passage stipoh two grounds. First, the bill proposes no violation of the Constitution, because a specific fund' i$ provided tor the redfinp tion (if the notes to be emitted : and secondly, the expediency of the measure is established beyond controvorsy, by .the advantages whiclj UHve" resulted from the nionied institutioirs of a similar character in soma of our sister States. I have already einlca vored to shew, Sir, by an examination of the constitution itself, tlmt with regard to the'fifst proposition, the creation of a specific fund does tint vary the argument ; that the evil di-eaded aiid prohibited by the framers of the constitution, was! the emission by the States oC a paper currency. I am conscious, that 1 nave not done jus tice to the argument, but itjs matter of little regret, while I have before ine, and have been able to present to the House, the clear conclusive and unanswerable argument of Mr. Madison. Sus tained by this authority, ! fancy, there is little necessity for en quiring further into the correctness ojf this proposition. Waving for a moment, however, the constitutional argument, and admitting the conclusion to be irresistible, permit me to enquire, ifc the pre mises are true in point of factfeftt0& the bill upon your table provide'atiy specific fund, for the payment of the notes of the Bank? 1 ask the attention of the House to the seventeenth section. 'The total amount of the debts which the corporation shall at any time owe, whether by bond,bill, note or contract, shall not exceed three timW the amount of its specie capital, over and above the monies then actually deposited in the Bankffor safe-keeping, Unless the contracting of anxf greater debt, shall have been previously authorized by a law of the Stated Recollect the borrowed specie capital is 83()0000, and you are not to issue more than three times that a Mount 900,000. unless it shall .have been previously authorized by a law of the State. But suppose it is previously authorized by a law of the State, what then is to be the limit ? The flood of paper money is to be controlled bv legislative discretion, and this pica c.tur, ,xv a:c.i i.is lid n.i V'- taOlc'soiue v.'coiu Tuefe;V;H'H:Vr'. H.KPeckVr.:Onbtion6fMrJ theVeporfCommmeeoftheb'Qlebrde ppinted.toxonduct'theiaipeachm ted;pr,8sr5;uchaTian, Storr.stfMcDuiBaitd Spencer fv s m vVreVbbn,ourlVe Land BUMvas discussed and:finally rejected, ;a ;m- . e' Conjmittee of the whole,' aW ; ant. . unsuccessmi iuquoo- ov iir, Deiio taKe.up the IndiinRPi " . .ar 1 was negatived by a majority of t$ VotesV, the committed rPJ . ch consideration of the bill falter the ;TariffJt;vMrlair f'c the spoke ihiuppqrt of Mr. McDuu1ei .amendment : t ?v . c- MassV having obtained the fluoftfie Cpmmittee rse 4 & ' From MtiRichmond QoinpiUr rtf1 v-HPn . g greeds pf caite..rjd,j sheep be an nKu worthv ofthe attention of our ehtemrtsinsr farmpra Wet, Hv:'powelljin Pennsylvania .nJJn as J. ment of our breed of horses is equally entitled to the attention f adVenturbUs tetlow-cltizens It is a recetyed maxim mnn.0 mprove our noisseurs, tliat the blood horses are better for every "purpose th Ck" wazgon" draft. In this point of view,, we confess. ,we.havtfjn4h.e mcre satisfaction the results of our races, and witnessed the ine ing spirit among our gentlemen of the turf. Wehave also haileiwffr additiortal pleasure the establishoient of that beautifut wort Skinner's - American Turf Register, We have seen ses visitingnot only New-York and Charlestotu but tife turf of nessee and'New:0rleans.V iVe-take no Ii(Ue interest fin the m'Ti' race, about to be i run at Long Island andi we. wish allsticcesrtoIr enterprising gentleman of the Souths, who has carried his cours -once more to that-classical field.- The; .Legislature of New-York I so fair relkxed their restrictions, as to permitilieestabfisiiinent of"" ces in old Dutchess county and tlus bloodfof e Sir Arohie's ands Charles's; will mae itself known on that more northern tut The citizens of TCentucky seem to be paying still mire attention t the improvement of their breed of hdrses. i We obsprvm fUttr L. ' 7: V pnirmoneY on the necessaryconfidence between man and man j on ' the necessary confidence in the public councils, on the industry and ? t:- morals bf the people,: and on Ih'e character ot rcpuoiican governmeni, constitutes anlenormous ilebt against the States, chargeable with this - rX 5 ixmulvised ineasure,-which must long remain unsatisfied j or rather an liC . accumulation of cfuilt which can be expiated, no othervvUe than by a " votuniary sacrifice on the.AlUr'ot justice, of the fVower whicli , has been '' ! '"th Wrumeritof tt fn Iddhion-ttf these persuasive con si deration 'V'; ' ftVnav b observed, that the shine reason, which show the necessity o ' 1. St'sWthV nower.of reu1atin2 coin prove, with equal A hxi tiiA tvr:int's mca ne- Oriinally SUDmilieu XO Hie lclcl al njcau .. ami as itti n uivivi- uiRbiviKiii mj.i v tuiuiu uiiu wiimiu j r - , --. , 1 OreVenT a OT inClHI cmcm cimnaii w y. j i v-o. .j unit" v" .! wvvKL.j ' ! iho rnntral ihint iiir fec.oinasre. voe enu can ue as wen auaiutu vj I ,y nt i (tiiMiiiiiv wuuiu attiiij uur utsiic 11 i . h,wjv " " w- vJr. lcai minfCesUbUslied under the general I authority.,., -V? v' rTUece J tension tine prohibition to bills of Credit, must give plea- K : MirMo every citizen, in proportion, to Jiis love of. justice, and his ktlmvleilseof t)ie true springsof public prosperity .-The loss which , AmpriVa IQtained since the peace, fnim the: pestilent effects of nrvinir in l 10 .1ItS IIIK IIIIi forced that t he v ought not to be. at lib r to attostuuie a paper tneui .'v ,.; u in 'the'pUce.(5f coirt. Had every State a right to rcgu late re va. V 'We of itsioin, there mijthfbe as many difft'refit currencies as Slates ; :' - "and'tlids" the int'eriourse'amog them would be impeded 5 retros. 'Uvr4nerat1dtis1n,it rtarfe. and thus, the citizens QfofU' hp iniured.'iCiid animosities be kindled among the .'....'...- ' ' III ,11111V I . (UllMl J . JJ7 Stat es jbciiiMPl ve : Th. sm bjfCts of foreign powers miht suffer from theiJnion be, discredited" and embroiled by ' 1 - 'JUftA'enniffVaii'irt. and nencev 'Vrr" inci4cnUtlie powerin thftStjilgs to emit paper money, tl.an to cmn v: V.V.W r 'sirvrhepoVer fo.iake any thing but sold & silver a ten.ler :?- trt'DaY "e'rit-of debti is -withdrawn trnm the States,.on the same prm- ciple w llvthat;ot. issuing aaperui , ' . ' It is a maxim thatcotem)n aneous,expositions arc entineo to y hMiiect?; extract vthicri I have ril, corner down Hi us v? iVnhiHl.iffb'refo has furtlter and Ingher : " : " ' claims upon our atteriifolK beTegnrded as the prodnetion i IK-'- lit tJxJ :tu-ii rest patriots and wisest sages, to wliom iiUr coon. , jf . .1.., , - ' I r' a ton Reporter of the 21 st ul t- that the sliom of $rood fiorses at the l 'r April court " attracted to thVshowgrpurid of stock-risers and farmers from the neiglibW ties, ouinpter. Rattler. Cherokee. the English hnr'rlnnfV -n petor, Sidi-Hamety Paragon, Cqmberland by-!PacoJet,. Virginia Whin" Chllders by Moses, and twenty or thirty other -fine borses were v Ai Race-horse anecdotes, are very tmuch jtKe Order of the bW' Jf this time, we thouht it might be aigreeabtef to Some of , our Amateurs to see the following extract from the .4 Library of Useful Knowld" (now in a course of publication.) Flying Childers has the reputation of being the fleetest animal ( ever known in .EnglaW : "The Devonshire, or Flying Childers, so.callea from the name ofhii breeder Mr. ChildeH, of Carr-House, und the sale of hirrfSo the lluke'of Uevbnshire wa! the fleetest horse of this day. He waat first trained as a hunter, but the .r, nor speed and courage which discovered, caused lum-to he.tROon transfem l to the tun. gomroon report amrms that he could run a mile in a minute bit there is no authentic record of thisf Childers rah over the course at Ne' 1 market 3 miles 6 furlongs' and 93 yihjsj In 6 minuteVandUt)' eConds , and tb Beacon course 4 mile 1 furlong and 138 yards! linT minutes and So c,.) In 1772, a mile was run by Pn elail in t minute arid iour lsecondk Iltlt 1 " . ........ ;l'' ' . . ' . , 'A. ... .'.i. Al. Zi birth., and who was not only cotrmporary wmr 'imv ' v" viMMiVmenf otfewtdeb he comments, hut was in a degree as great, - i" :' TicrhapaVV author, and whose opinion, -; MrittPM 3. .befre? any Attempt. had been made to evade ov vu,. the result of a calm and dellbe ? ,Vatr revie;w ofltl motiyeof hiswo action. , , V r. 'J r;yr jold bowevVjy Mr. Sjieaker, that the bill? proposed to he " r 4 rmltird) tri'tht Bank are .tot within the prohibition of the 1st ' ,j 'At.t5r!e?IwvaiiWVilsVrificTml is, provided, for tliei;r.-.-redemptio.n An adiiidictpm;fi'om;aVsister, State, .will,:;,werare- - ttiforfnedr. be :y vvi m'adV"tobear jripon tliis ijtiestioo.It will be tftne, Sir, to examine -X'; j in vvliicli the derision;in question may have to our confi ttciice andWspcvybcn some geptentan;fihaUtclioose. to make rr U - himself resjnin.sible - for the train of reaSouingm wlrich it 1st found 'S liy : introducing iHutoJhiS debate. For the present, I shall Vf v:i UooieuVjlVVwp enqiijiing,' whether, t:p.hiyisioh f.a ieeia 'VfujTdfOr ih:'redetirjdi(in olMPftfcUrrc State, y.: Arika ti' that of bills ':of'er;edit ' -Thf .opinion of lrrMkdison js. decisive of this question. Be tells ' J" : " -V iistKatlieJihject of tWprovisicio, is Vo .restrain the1 States fronj . ' e t) i i 1 1 i n g yt " a 1 b R corrrnot,' nd jvJt" be not the construe- ryr ;V :.; tiny tlim Mi V practice V sVe the result? 'Ite liill propo to borrow three fhun ' 4 - 0 ilreil ttiiutsaiid dollars, and bit the Credit of this borrowed capitalto' d;.' 7 . Jssite ul ie htindred thousand dollars. It this evasion will i satisfy the i - 'r rbnStttution why not-frorropme hundred doUati xxm Iss.ue amit .' ito.;rjie a)iVty4 flvvto 'A i !t increased I i ' V . b y 1 htivasYiig the ammmt of ad ebt due, to 'jaV.l'Tbe; object of the? ! ' 1 6nstiti!tioo is to 'core-K sound circulating medium, tytiiclij never; - rrfn u lreeiveu, u iiiran i;vri:luo.si'iucii.Aiiat iui:Niieuieaui.;ie- easy to divine. It ran only be ascertained, by attention to the ebb aiid fliiw o0 popular sentiment. I have little disposition, Mr. Speaker, to disturb unnecessarily the self complacency of the ad vocates of this bill. But' surely, if it is a fair argument that a Bank of the State most prosper bere.because a similar institution has j done so m S. Carolina, it is equally fair to suppose that we inherit some portion of the infirmities of our fathers. If then at the close ot 85,a paper currency amounting to seventy two millions had been e mitted, are we with a population t wice as great likely to be content w ith a smaller sum? The total amount ofthe value.of lands in N.Ca- roliiiain 1790,was in round mnnberstwenty eightmiUions of dollars (g28t)00,000) add to this sum a like a'mount.an estimate greatly too large, as the value of slaves, and you Will have an aggregate of fifty six millions. Is it an extravagant calculation then; that the seventy two millions of paper currency issued previous to 00, ex ceeded in amount the total value ofthe property real and "personal owned at that day, by every citizen in the State ? We may have more wisdom, and more prudence, than our revolutionary sires, but 'with perfect respect for the Senate, I must be permitted to hope, that the passage of this bill by that honorable body will not be Cited as proof of it. Unfortunately however, if we have more wis-' domf we have les surplus Wealth. This paper money debt, as I have befitc stated, was first scaled at the rate of 800 toj, aud was partially discharged by the sale of the State of Tennessee. If we sanction a! policy, which leads to similar results, involves the State in a like amount of debt,caniot scale it, because the samesec tfou whtrh jirtdiibits the emjfsslou of f bills of credit,' provides that we shall nof " pass any lawtinterfeling with the obligation of coti; tracts." We-.inust pay it then but how ?Not in western lands, even rf the vkltey of the Missrppi were, aslri other days, a portion of our dmaiiiiThe next sentence provide, that nothing ' bat gold and silver shall be made tender iny men t of debts." The 4i ill solves the dipcuity, the 55300,000 to be borrowed no one knows wheiv, is the ample indemnity provided for the note-holder,- to ni t S300 Weheerfully bear witness to the' following tribute; from the ed:. tor of the National Gazette, td'the memory of a "distinguished and i rhiable man t . . ! ' . i-.. k , , f ( . " We do not recollect to haie known any indivhiuar who inspired us with more respect forhis intellect and heart than Dr..Godm4fc,' to whom knowledge and discovery appeared more abstrajctly precl6c whose eye shed more of the lustre of generous and enlightened enthc siasm ; whose Jheart remained more vivid !abd-sympateetic;V nro.v' fessional labors and respon4miIftvalwavsxtre Considering the decline of his heal th for a long period, 'and tlie pres. sure of adverse circuiistance8, wnich'he tdo ffequentfy experienced he performed prodigies as a student, an author, and a teacher j-he-prosecuted extensive and diversified researches $ composed superior 1 disquisitions and reviews or large and valuable-volu$$,;$ and ia the great number of topics which he handled Simultaneously; or in imme diate succession, he touched none without r doing himlejf credit; and piuuuum sume new ueveiopeineni orngnx or nappy lprns of express- sion. met the issues directed by legislative discretion during the exi ence of the coporation. But how is the borrowed capita tl pttal, the ).000 to be repaid? The eighteenth section ofthe hill inkes .provision, "The profit .accruing on tlipcapital ' stock of aid Batik shall be applied .to'lhe payment of the bonds ofthe Srate,exe cuted and deposited as aforesaid, as part of the stock thereof, mi less otherwise directedby the Legislature." It is to be repaid then by the juofits of the Bank, unless the Legislature otherwise directs; butaf the Bank makes nh profits, or the Legislature otherwise di red: how then i In that eveut.I suppose the nortliern broker is to Jook to " the faith of the State," as pledged' in the second section ofthe bill. It is difficult to say which class bWcreditors has the most ample indemnity. Those who lend the monev, uoon which the notes are to be issued, or those who receive the notes, when .issued.- ':. rZH- ' i --i : . The following anecdote related of the deceased by a CDtitemporarr. conveys a useful lesson : " V Some years ago in conversation wjth us, he said thatin a voyage to sea in early life, he had sen a lad who had just begun to be a sail(J.4 uS vuv u puihc pi ujccuiik part 01 iue rigging-, nis arms were soppor - j n P"1' iuu c ijuwvuig mciow mm yrpr a rope.wnicnran a i on which his.feet should be.. . The rope ffewfrom sijle'to. side ed by cross "V iislatitM;'iie abt coVitfaveney ts: prijicitdes. "In. addition to J his decrintion wiatsoeveX:nottherwue aobrobriatetL whether of tantls: anareso nie.oiaite ian, snares. in jne ape;; rear ana iNewoern fMr. Svtaur Spceck-$$ontinued.J eyes from the danger the dizziness was prevented and lie found his footing. ! And this incident the Doctor said; often .recurred :W his mtndrin after life, when his troubles grew heavy .upon him, and he hardly could find ground where on io treads At sueh times l)e lieard -the mate's shout in, his ears, and turned his eyes i aloft" to the prize upon which he had fastened hisiiopes ye4canh0V pirt with this beautiful illustration, without asltfng each of our readers to apply it to atill nobler purpose : to steady themselves in alKthje tempests of ad versity,by looking forwirJ Ib'thatiife rb'vvh'icbher is rest aod peace evermore---an(i wnen our nesn ana heart shall fail jis, and we can find u suppiiri umier uur ieeio- seex it?py - looking alyu who is the .strength of our hearts and oun portion forever. 99 to Hi in' The srene at the Police Office in theferhin, during the cxammati of the a t ch j eturns, kMenti mes of tpeTnost melancholy atnl affect ingcharcter. Many jf Ihe pers-itis Vthe custodv of tfe watch re hnlf clothed rerkof htMiiaOity, whtVare picked up shiveriog, starving :.nd pilfering in diff-rent p-irts of the cityj Creepin truth door to door their features haggard with mfiery; their limb emaciated by exposure to ihe figor of the wenther, ami tneu voices hoarse-'and sepuclirif. excessive iotxicaion, they present a spectacle that cannot bniZwU11' feelings Ol couipaion tor JtheirrerchednessK iireveryHtumiin bres- CONGRESS. W . - SENATE, r Saturday, May L The Senate did not sit to-day. ; V. kManvol them are retnaleiii:iliA-.liva:.l;r.V onttv. in miiiiv riStf.. Set" better days itnd whe havebeeo driven.ijy extVeine pentirv first to K; anrtUhenitoteai.- 1 he largest proportion however, are the biw:;, slaves offrum, who are briu?hl dii ih.it wpHv or n, onthl v" until deaR it theoi fmmfthe scene.' nr iiitff n.tvi.a thpih ik' nrisonai1 remov Mondavi 3fav S. "', ,t Due order wks laken this day for constituting the Senate a Court of which thtf -Hauf Representatives had gfven , nbtice of its intention 10 exmpit. . . -;v :.Ptimeape Land Graduation Billi 3fJll?Ws aftcrards laid on,the taWe, on.htsYmotion. - ' :ThrTbiIl prescribing the mode orcommenciri nm-.r.. i &t nftt6t eT betweimStatet. Mr! havn J I Atonemenuor opences commuted in theiHmiMnentf madness. - u r V. .excellence 01 me advice it contains. ,. the Gospel can maintain tliat purity and erainence pf character 1 requisite.to advance the c:au?e- hedVocatesrand atthe,san throw himself into the arna Wn .hnirtil naVtian. 14 . ..... ' Methndist M;nff J d-7. a 11 JIj r-.'- f tJvp circulate ..iiirgrv -nu&Mv' sofalldeDnninau-; 2st hv theadyW wer (whicVjs alrery rare case,) Had' taken some interw . yanifestedrsoniewarmtkin a' recent oatidrial election; and the f uaiys anufaioonus anu noces aue tofme o:are, anu tne,pr.oceds,ot e, ' r nlkyaeatiL and utwpprojiriate(l.Iands;belongttrg,t6: the same; sha 1 con- The ds.Cussionrof the bill reported SVMf amhrii; ' - :lr- Jc" " .t" if P ' I idvUe eng to am end the
The Raleigh Register (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 10, 1830, edition 1
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