Newspapers / The Tarborough Southerner (Tarboro, … / Dec. 8, 1838, edition 1 / Page 1
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oar Tavborbuh, (Edgecombe County,. C.J bainrday, beecmhei 8, 1838 Vol XIV rfhc Tarhorough Z'rcss, UV F.OIU5E now Aim, t ml-lisaed weekly at Tivo Dollars amlF; fly IP" if niiil in advance or, Lirec V'" 'Tnhe expiration of the subscription year. 7''""'"'' ,,,-rhnl less than a year, Trvjnh.irt Subscribers ;re at liberty to ,a mr : .: , .t :inv tune. on giving notice thereof i( ....Hinii"-' - a i . ..... i : ,i vlM,r arrets m-"- n.....; xy pay in advance, or give a resnon- ViU-e in tliis vicinity. ..... v. .. linrr ;i ctnnare will bo .:lvert;so:nc mi "7 i . , ( I ;l( (),,( ;.;, tut; nrsi insertion, aim .;. .. t'.r every continuance. l,onrer aavoruse like Proportion, Court Orders ami .In '' alvertiseinents i. percent. higher. Ad ..r.,ioii!.s must le marked tne itnmner oi m . s rr r:ii' 'U or they will be continued until :!( ordered and charged accordingly. l llu r addressed to the iMit-u must be post 't they may not he attended to. Tii'v ami. .Fashionable FALL AMD WINTER .uVerilvr int. rms lir'r customers the ihlic, that she is now open ho,. re; .! ! i tmenl of Fall and IVinlev s tc!cti vit!. can bv herself, an! com ptMig the usu il yarn-tv, viz: rriftv ! Pattern lonnets, latest fashions, V, 'ii riu Uri. ;:t d, and fine split straw bonnets, I' , r;1:,'i Mr.iu-s, l;.-.!vii',e braids, (ireciaiis, miv- , j Mraws, Shakers, ..Ve. ;,, ;,!,! figured Silks and Sating, for dresses, ,,-.'. I;i,!i;rMlk, Bl ick Mode, I'riiie, vari 'lis '-dor-!, j ; i,v- Crapes, Thrcid Iv.liriiijjs, !:,,! I'.ljrjt-tjrs ;nd Foettujs, I v, serf i n ijs, tl'Vi-iauetraad IV-bhinelt, t l.mdkerchiels, C t' -i"1. Capes and Cdlars, head Ornaments, A .-;t'.e a did ass riment ofKibbons, Flowers, vci Allot vl.ie!i will t'C - 11 a I a vci -taJI ;ivlvifioe for oah, or ni her umiiI ac ,-nn o,!.ititi term tr pijt.'pninl i-c!tirr. QDV;e !i;t p: onir- il tin' huost li. r.i 'M K. and propatcd to execute Man ij.t making as lien toforr. . .7 C UOIWIRD. Tiiihoro'. Nov. 1 I, IS:H til the cheap Cash Store. JAMES WEDDELL, S nav on h;iid a I rge ami general " j'Sorlmnit of '" S3 J ? iKr.wl ' J'V Huiikvare, cutlcvy i.'t'tiuii, Glass ana1 K:rftentrare. Cat lasin Hope. Twine, &c c l e - I! r cheap lor ('ash, country l1T'!iice, or on a i-lloH creilil to punctual liK'l). Nov. 2 Ilh. IS.-iS. bluti' of vYoi'tii Cut'oliiiUi r.IHil.COMEK C31'NTV. ILMirr.s' COUKT-Nov. l'Jth, 1S3S. 1). Ki.ihi &: Co. v. Iliibcit Diniel, C Knight, v. IMjcrl Daniel, William llinton Vs. J. Original Attach incut, j hj!i (Vil I el 1 wii ii, mnnni! n r.-1 rn I il t r? 1 "Ppo itioor j (1C s itiistactiotj f the ls,,ep of i J,o Peace thai the iltfend Hubert I) Uu'ct, is not an iuhahitant oi " 'inly l Hd-rcoml)f: 1 1 is therefore "''lM'J, ihti puhlicaiion he matin in the Press h,i thirty hys thai th. ''I'hii.l.ini Daniel ajmcar at the Justices' l''"H to U. h,.d al (i0. H(Jf.j'n SharpV, (J" lii'h day of, Deeefi.her next, antl l"-a'l 'o issue, oi j'l.lmi-nl will he etiter ('' aiinsi him as confessed, ami the n,0l"'y in the sarni-lie-N h.autU condem ntd sie.j. e, l0 ,he pain,iff ,CCovery. Attest, nnx,rx siLMPt J. p. lv 1 37-5. kiran Heifer. (5 h Al KD from the subscriber, a few weeks since, a two year old lUuck Heifer, Jih a white streak on her back and sev tr?l white spots about her. She was n. 'forked, a liberal reward will be given 0P thMivey of said heifer to me, or Dy information respecting her will be taanklully received. GEO. HOWARD. ' 5rboro Oct. 25. GOVERNOR'S MESSAGE. continued ) Acirrnlatin-mclium of uniform value, mil m sufficient amount, is ihe .,-cat desiJe rattnn of our extensive ami enterprising Confetieracy. It is tllc life blood of the varU "s branches of oip: sproadiu- industry, of our a-neulture, commerce, trade, manufac tures and mtern tl improvements of everv tlescnption; and is rendered more essential to our welfare by the extent of our Union, vunetv oi our sou ami climate, and of our people- dittVrins almost as tnuch in wants, habits and manners. This all im portant circulation I apnrrhend cannot h supplied without the credit and protection ol tne Federal Government, exerted either directly in th- esf.J)!ishment of a National Iuk, or imiirectly under proper regula tions in favor of the Ii mks of the State. 'Hie people very wisely avc to Con Utess the power '-to coin money, regulate the value thereof, and of foreii coin, and' to fix the standard of weights and mca-' sures " Hut it would not he more unrea sonable to resltiet thncoimriv to the iden tic .1 weights and measures 'furnished b the s n-ernnient, though tliv Mfrie I not one-tenth lh; supply rcfjuircvl, than it would hi-to limit ii. to the use of the coin thus reula'e I fur the receipts and dis biirsementsof the general government, if i was rifflu lo do so, the g verument should feel itself bound to fur.itsii sul;Kient -u-i-piies both fur its own aud the people's u ses. The leading . design of these grants lo Congress, was ;o render what w;s before irregul r, uncertain and deranged certain, defined and uniform; other .vise there could be no precision, no uniformity, and but lit tle justice in the collection of taxes and du ties in the various sections of the Union. I, -w 1 . .4 10 grard -t.) regulate commerce with loieigii powt ix the Stales ai.d Iinihm J tnbes, indicates very strongly the inten tion of the frame rs of I he constitution upon tins suojeci, ami tneir sei.se ot toe necessity and propriety of icguluting the currency, be it what it ntav. A National Hank being considered mv constitutional hy the present chief magis-1 stitutions, I have-no doubt, would afford as trate, cannot of course, be established du- j near an uniformity of currency and of ex t ir.ghis term of olT.ee. unless a constitution-! change as by an- possibility can be arrived al majority can be obtained to control thejat. veto power, of which, I confess, I enter-) Under such higli sanctions too, capital tain no hope. The necessities of the coun-jists would be induced to invest their funds try have twice called such an intitution , i:i such stocks with alacrity and confidence, into being, and under ti e auspices of our j And the notes of these Institutions from most enlightened and patriotic .sSytcsinen, ; ihe cretlit reflee'ed on th; m would circu and it fully realized the exp-clarions of its' late so freeK ami extensively as to enable hit mis, and supplied the wants of the country. Still it has been made the stalk ing horse of the demagogue, and made to he ir upon all our elections, from the eleva ted chief magistrate to the constable! aud yet so impressed was the c-untry with its utility and nece ssity, that despite the popu larity of the late President, w ho wns oppo sed to it, it was p'-chartered by Congress by decided majorities, and fell a ' vic tim to the veto po wer. The c. nstitutional ity of its establishment seems to be a ques tion never to besnt'kd, and if the scenes of its re charter are always to be actul over, anil the public mind excited and disturbed by the misreprescn'adons and agnations of corrupt partizans, it may well be question ed whether the advantages of such an in stitution, highly as I might value them, are not counti rvailcd, In the improper uses to w hich its enemies bacl prostitute it'. Un der such circumstances, with no national currency, and our exchanges deranged, with no hope of act ion by the general gov ernment, it becomes our duty to search oul a substitute for the National Hank. My preferences are with the Hanks of the States; aed I ask your attention, and our candid considcra:ion of my reasons. Their permanency is an important recommenda tion. The first chartered Hanks in the country, are yet in existence aud in good credit, ami no one, within my knowledgo. of respectable standing lias ever been refu sed a re-charter, when applied for. Nation al politics have never entered into their management, and their contractions ami expansions can never effect the country, like a National Hank ol large capital, rami fying into many States. A considerable re formation, alteration and improvement would be necessary, however, in order lo make the local Hanks meet my views. Fhev arc at present too numerous their capitals, generally, too small, and the va riety of their notes so. great, that it is al most impossible to hx upon the memory, the characters of the signatures and vignet tes, so as to avoid the danger ot lorgcnes. Some of their locations are inconvenient as depositories, it will inevitably lead lo riv alry aul dissatisfaction, jealousies," and more than all, to a depreciation of the is- of the rejected banks, l propose then, that our State lead the way in ihe re tV.r.r-i n f nur Banking system, and respect fully recommend the chartering of a Hank with a capital of ten millions of dollars, al lowing the existing Hanks to subscribe all -Mr capital slock into it. Tim rmo;,n- stock to be taken by individuals;' into the details of which, it is not now necessary lo enter. J The State to transfer all its stock and iunds to the Hank, and to offer its services to the Federal Government as a depositor v 01 its fund; the safety and forthcoming o"f which m the kind of money deposited, to 02 guaranteed by tlie state in such manner as shall be sitisfactory to the General Gov ernment, and in the event of the Hank be MS unable to meet the payment of the Gen eral Government, tne Sta'ie to issue stock for the amount in favor of the Government, bearing 5 percent, interest until the Bank is ab;e to resume payment. For their ser vices rendered to the General Government die notes issued by the Bank to be re ceived in payment of all its dues, and on the furl her condition that the other States prepare their Hanks in like manner, and tor like purposes, namely, That each State and Ferri'ory shall designate by law one Man!;, and more if its trade and necessities require it, of capitals not exceeding ten, nor iess than two millions of Dollars, as it own depository and the depository of, toe General Government, and if requested b- the President of the United Slates other 13a.de for that purpose; a second Hank tiow-.rver in no case to chartered or de signated until the capital of the first, which shall be t!ie maximum amount, shall be en tirely taken and so on to third, fourth and fiith, when necessary. The notes of all the Hanks thus made depositories, to be engraved on similar paper and to resemble e ;ch other as near as possible. Each Suite -h ill designa'e to Congress the particular Hank tendered as a depository, &; die accep tance by the General Government shall be under an act. of Congress, and all their in tercourse regulated hy law. If any State refuses or neglects to come into the nr rangemen'thi' money collected in such State b th- Geocra! Government shall be trans ferred to a depository of some other State, not h.tll 'be money collided in the re- fusing State, be received in any tiling hut coin. Thus fostered sustained and patroni zed by the General Government and guard ed by the supervisory power of the. States which guaranteed their fidelity, these in- them to supply ti e amounts necessary for all the legitimate uses of the country. An increase of banking capital in our own Sia'e is certainly nt ces.-ary to meet the wants of industry, and to perfect the works of improvement already commenced, to say nothing of other yorks equally ne cessary to be made. Hut unless some ar rangement can be effected to convert the unnatural hostility of the General Govern ment into favor to the State banking insti tutions, ou may charter Hanks, but cap italists will not be induced lo hazard their means in the stock. To borrow money, as some of the States have done, in order to furnish capital for meir Hanks; is idle. If the Sub-Treasury is cst.ablis.ocd, bank no?es instantly become discredited, oi their sphere of usefulness is made so limited that they will find it haz ardous if not impracticable to loan out more than their capital, and their profits will be . . ' k ' - - 1 'TM- . ii Mimcieni lo sustain mem. uic sugges tions I luvc made to you, are the results of inanxious reflection upon an intricate and all important subject, and it affords the only probable outlet which has occurred to me of extrication from our financial difficul ties. 1 have attempted nothing more than a general outline of the plan; its details, should you deem it worthy your conside ration, can be arranged at your conveni ence, l no sumeci is so important, mat i must crave a few moments indulgence in making a further brief illustration of it. I have said that the intercourse between the Hanks and General Government must be regulated by law. There must be no con trolling or discretionary power in the offi cers of cither Government. We have al ready seen our institutions seduced into measures, for which they were subsequent ly condemned by the authors of their er rors. The States all have, this State at least has, a deep pecuniary stake in two of her Hanks and a yet nigiier interest in an, in the character they sustain, and in the facilities they afford the farmer in selling and the merchant in purchasing commodi ties, and we must not allow them to be come the sport or the victim of any power. They hold their rights under the same sa cred guaranties by which our lands and other property is held, and any invasion of them should be promptly anu inuignanuy resisted. They must not be made the tools d party or the victims of demagogues, and hence I would have their intercourse with thcGovernmentstrictly regulated by statute. I have limited the capital of these Hanks at not less than two nor more than ten millions of dollars. No State or Territory will require less than the minimum and few should exceed the maximum amount. The one is large cnou-gh to insure rcsnectabilitv and usefulness. The other could not exert uch power by contraction or'T.xpension ol its discounts as seriously to affect the busi ness ol the country, or the value of pro pet l , anu guarded ami restricted, as I hivei proposed, there could be no danger to lib-! erty or the Union. i Ihe responsibility of the States is pro- Roads 3833 milescosts nearly ninety posed in order to allord the most unques-j millions of Dollars, For a mote pari icu tioned security to the depositors and note lar exposition nf th ndtrnnfW .!rrh-r,l holders, and to remove all distrust from j the general Government that it may em-j orace the uronosition at once and set. tbi distracting question forever at rest. The Stttes would incur no hazard in their guar-' antics as no Hank of respectable size has ever failed to pay deputes and issues, however their stockholders may have fared. hut the Slate is to retain the supervising power, and may so exercise it as io make her security as perfect as she desires In cases of emergency we have seen several of the States promptly coming forward tas they should do w hen any important inter est is in vol veil,) to the relief of their Hanks oy the loan el their credit and funds. Pre vention, however, is bettir than cure, ami the plan proposed, will, I think, obviate that catastrophe. I he guaranty having been given, the issuing ol ihe stock merely points out the mode of settlement in case of failure, and after all it is but a financial arrangement, giving time to the Hanks lo wind up their a flairs, if necessary, and pro lecting the people from a rapid and ruin ous pressure in the collection of their debts. The huge size of these institutions and the enhanced value of their issues would soon drive out of circulation the notes of the leaser Binks and compel themrto wind up by limiting their circulation and return ing it on them for specie. So that in the end the great evil of numberless small Hanks with insufficient capital, would be remedied, and the whole number of bank ing institutions in the country would not exceed that of the United Slates Bank and its branches. The u?e of similar kind of notes and the issuing them only from the principal Banks would impress them upon the memory render the signatures and general character of the bills as well known as those of the late United States Bank and thus facilitate their circulation and di minish the chances of forgeries. The receivability. of these notes in all the dues of the General Government, throughout the Union, would render it the interest of t!ie Banks to keep exchanges at fair rates, to prevent the collection and ac cumulation of their notes in large masses al points where trade has a tendency to concentrate, and tlie Slates may interpose statutes (in the stead of competion) to guard against over issues. Indeed, the sphere of compcticni if there be any good in it, will only be enlarged. Instead of the several Banks of the same State vicing with and h irrassing each other, the rivalry will be between tlie Banks of the different States; and they will more effectually and uniformly keep each other in check and order, whilst at home we will have tlie full use and concentrated vigor cf all our capi tal. A serious objection urged against a Bank of the United States was the large amount of money viclded by oneseiot men, ena bling them to contract or expand tlie cur rency, and then to operate upon the busi ness and politics of-the country. This ob jection, in my estimation, holds mucli more strongly agunst the Mammoth Insti- O J cS . tutions now becoming common ct the North and free of the restraint 1 have pro posed. The Bank of the United Mates was responsible to and controlled by Con gress for her acts in all the States. But these institutions holding charters from the States can only be controlled by the power from wliich they derived their being, and this power will never be exerted except for acts injurious to their own citizens and im proper within their own limits. . Beyond their limits, in other States they are al most irresponsible, and their conduct will be marked by the wanton abuses of the most unrestrained despotism. . If you re quire illustration, turn lo the Pennsylva nia Bank of the United States dealing in cotton and local Bank stocks, appropriating almost exclusively the trade of the great stiplcs of the country. Pennsylvania either could not, or would not control her; and without some further restraint than that of the States, we will ag on see the le gitimate business of our merchants wrested from them and the country driven to deal in a depreciated currency, and ihe occupa tion of the merchants superceded by the agents of the Bank. If facts were necessary to demonstrate to you our urgent need of more Bank ca pital, I would direct your attention to the European markets, overrun wun our appli cations for loans. I would ask you to compare the amounts profitably employed ur ,,r lter States, nossessinir natural ad- 1 by our sister States, possessing natural ad vantages requiring improvement, infinitely iufeMor to our own, with the amounts'em ployed by us. New York a little short of our Territorial extent in !7'.)0 had less number of inhabitants she adopted the use of Hanks, and vc did not for a number of years. In ISOO she surpassed us in po pulation, she increased her Banks commen suralely to her wants ami improvements, we did not. ant! she now numbers thro. tnr.es our population. Besides other and valuable immvem(MitVshe has finished commenced ind chartered c.knxU mid Rail by that State from her appropriations for Internal Improvements. I submit to you u.c-uvcumcnis marked U. and D., Keports of committees to the Legislature of that State, communicated to me in my Execu tive capacity. For the benefit and protection which this Hank will enjoy from the State, it should make a subscription to the Yadkin and Fay cltevific Rail Road stock of a half million of Dollars. Agriculture is the basis and support of all other interests is the most important, and merits your most deliberate considera tion. The landed property of our State is held in too light estimation, and our at tachments to the soil hang too loosely about us. The places of our birth and early re collections ihe theatres of our manly struggles, and mature associations; the very grave yards of our fathers inspire no abi ding attachments, but are sold and transfer red with less emotion than are the brutes that graze upon them. Prematurely worn out by a loose and ruinous rystem of cul ture, our lands are parted from, without regret, and seldom descend lo the third generation. This indifference arises, ho doubt in part, from the abundance of our land and temp: talion presented hy richer soils in climates more congenial to the favorke production of the day, Cotton. But in a greater de gree to our laws, affording to this primary and paramount interest, no preferences or advantages over others. It is your duty hs L"giJaiors to investigate the causes and to provide the remedies if in your powerl !Iriif tint !hi prwl I ir ri 1 . ', ., -.I fin nirf at least) by securing to every family in proj. portion to their number, certain portions of . land immediately aruund ami including their dwellings against all claims subject during the ihe of the owner, widow or unmarried daughter, to their control and support, and alterwards to descend to the eluest married child, who has offspring, and so on forever. Liable however to bo sold at all times by the proprietor with the consent of his wife. By this means an asylum would be afforded under every contingency for the family; and wiuowsj and orphans, shielded from the degrada tions and sufferings of want. . Owneis 0f estates would here find inducements f0r systematic and permanent improvement emigrants to puichase and locate among usj filling up our too sparce population and en hancing the value of our loo depreciated soil. ... Much may doubtless be effected by an improved system of husbandry, under pro- nrl I mi I l-l ri t u -il-wl inliioitiinnlc IT .!-. for a moment to tlie improvements success fully achieved in Massachusetts with deci dedly inferior climate and soil, our doubts will be removed. She greatly outstrips us in -our. peculiar, interests In proof of which, allow me to refer you to an agricul tural survey recently .matte in that Statc marked B. and so valuable in my estima lion as to induce me to recommend that a similar survey be authorized in cur-State. But gentlemen, it is only to a liberal and well digested system of Internal lmproveT mcnt that we can look .for the regulation, and permanent; prosperity of our State. Our towns are small, our markets distant aud difficult of access our water courses for purposes of navigation, naturally in different aud wanting improvement, whilst our infani manufactories are struggling for existence against the matured and mighty workshops of Europe and New England.. We have no branch of entcrprize sufficient ly advanced and powerful to render assist--anee to another. It is in iruth the race of imbecility and poverty the waste of no- ble energies in detached and sing'e handed cnterprizes. Furnish but capital, and f 1 U'... ..11 : resources, ami direct them judiciously to the deve'opement of our advantages, and you will find that we have tlie materials of a great and wealthy Slate. Our water couises are incomparable for propelling machinery. The earth teems with inex haustible mines of rich ores and minerals, and our population characterized by indus-' try, prudence and economy. But tempt tation is around them, the stimulants to emigration are almost irresistible Most of our sister States are engaged in magnificent schemes of improvement, offer ing high wages to the mechanic a.rd labor er, whilst the South West invites the Far. mer with her fertile paradise. Have we then any hope, any alternative but macoa- i 1 I i
The Tarborough Southerner (Tarboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 8, 1838, edition 1
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