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SATURDAY, AUGUST 15, 1S40.
Democratic liepublican State
Rights Nominations.
For president
MAKTIX VAX BtfKEX.
rOX VICE PRESIDENT,
RICIIAIU M. JOIIxSON
PWe invite attention to the ahle and
patriotic letter of Col. Johnson, on our
firit page.
ELECTION RETURNS.
We publish below the voles for Cover
Tm- irlvpn in Messrs. Saunders and More-
. . w..
head in 1S40, and to Messrs. Spaight and
Dudley in 1836, which was the last party
contest for Governor. Dudley's majority
Knn? It will be seen that thus far
an - -
the Republican cause is on the increase.
1840. 18&6.
Counties. Saun's. MorM.
Edgecombe, 129S 111
Pitt, 519 625
Beaufort, 363 S46
Washington, 96 379
Hyde, 175 329
Nash, 791 73
Franklin, 636 3S3
ttranville, 760 873
Warren, 705 S
Halifax, 446 622
Northampton, 519 543
Bertie, 46S 483
Martin, 574 244
Wayne, 777 263
Johnston, 611 574
Columbus, 2SS 242
Craven, 643 671
TarnHpn. 91 524
Spa't. Dud'y.
1191
511
236
?4
157
6?9
564
391
673
465
241
4S9
519
716
672
185
669
12
71
4 S3
755
r
3
460
102
30S
977
92
505
592
36
251
180
364
210
267
All the districts not heard from.
Nash county. Samuel L. Arrington,
Senate. Ford Taylor, Commons. State
of the Poll: Senate -S. L. Arrington 291,
John S. Arrington 163. CommonsTay
lor 642, Ricks 91.
Halifax. Andrew Joyner, S. Ster
Hn H. Gee, Benj. Pope and 13. F. Moore,
C. Poll. Senate Joyner 294, Alex. Als
ton 176. Commons Gee 627, Pope 623
Moore 602, M. A. Wilcox 482, S. Whita
ker477, J. Branch 444. Sheriff Brickell
623, Daniel 433. Governor Saunders
446, Morehead 622.
. Martin Jesse Cooper, (no opposition,)
S. Asa Biggs, C. Poll: Commons B:ggs
588, Gray 176. Sheriff A. S. Mooring
501, S.Smithwirk 313. Governor Saun
ders 574, Morehead 344.
So far as heard from, the Republicans
have gained 1 member of As-embly in Co
lumbus, 1 in Greene, and 1 in Craven; but
have lost 3 in Halifax, 1 in Bertie, 1 in
Northampton, and 1 in Granville.
(JThe Judges of the Superior Courts
have agreed upon the following as thir
Fall Ridings:
Fall Term, 1840.
1st. Edenton, Judie Toomer.
2nd. Newborn,
3rd. Raleigh, -4th.
Hiilsboro'
5th. Wilmington,
6'h. Salisbury,
7th. Mountains,
Dick.
Hall.
Navh.
Settle.
Pearson.
Bailey.
Haleigh Keg.
FOR THE TAKBOUO PRESS.
Observations on Mr. Badger's Gran
ville Speech.
No. 4.
I must intreal your patient attention, fel
low citizens, lo tae dry details of the pre
sent number which proposes an examina
tion of the effects of "a National Bank," a
Bank of the U. S. of Penniylvania upon
the commerce, the agriculture and general
condition of the country, since the learned
orators happy period of -eleven years ago.
In December 1829, Genl. Jucksou in hit
message to Consruss, announi.ed ihe lailure
of the National Bank, to fulfil the duiies
and the objects for which il was created;
and subiniUed the question for the decision
of the American people wneiher the insti
tution should, at the expiration of its ch ir
ter receive a new existence. About this
time, or rather in 1830, let it be remarked
the bank capital ot the country was up
Ayards of 145 millions of dollars, the num
ber of banks 330, the specie 22 millions,
paper circulation upwards of 61 millions,
and the loans and discounts 20ui millions,
the total imports for 1830-1, were more
than 103 millions, the total exports 8l$j
millions; leaving a oaiance against us ol
near 22 millions of commercial debt.
Io UUUl 1111.1 IU1IV u..w..ua 4 J U 1 1 iv
determined on prosecuting its political war
agdnsi ihe administration, and by iu feed
aliorneys in both Houses of Congress, by
its influence over the banks of the country,
by bribery and corruption to attempt a
compulsory renewal of its charter. For
t.nnil rrrss c.inaui
hie
of aiding
the
Jt;n nf her views. Among them
1 . . - I hor h
Unrrht CM Tallin ... mush,
' ' ii..:?:. u .vi-,iirnress the National In
folKrronrrr. at the citA
at the city o! Washington; me
whoTe printing establishment, the house
even in which the Editor lived, as well as
the debts lup, or to become due to the con-
Thus become the creature of ihe
.Tntional Bank," its existence depended
upon implicit obedience to her mandates,
and it hasiulhlled her expectations, uu
gress was to be conciliated or intimidated,
and nendinc the preparation and prosecu
tion of her obicct, the loans of the bank to
109 members in 1830 and 1S31 amounted
fr. sij'isrt Thp increase of its dis
counts from Dec. lS30to May 1S32, (about
sixteen months. ) was S2S,000.000. There
still remained the difficulty of reconciling
the people to her despotism. I o this end
she adopted the policy, of alternately ca
ressing and scourging, the American peo
ple, until they should be made to cry out
"iircai is me uau-i "i",,-'''u",i
Givc us a National Bank." Hence we
witness the employment for sixteen
months, of the caressing experiment, con
tinued up to the moment of the passage of
:he bill by Congress, to renew the charter.
Happily President Jackson with a moral
coungp, which no other man in America
would have displayed, placed his veto on
ihe bill, atid immortalized his name, in the
minds of all true friends of their country, at
the risk of re-election.
In 1S31 -2, the imports were over 101
millions, the exports above 87 millions,
lea ing a commercial debt against us of
nearly 14 millions. From Dec. 1S32 to
August 1833, the Bank U. S. increased its
discounts S2,5SS,723. The paper rircula
lion of 1 S3 1 i cannot state accurately, nor
the increase.
In 1S33, the imports were about 8 mil
lions more than the last year. Ihe do-
.restic exports about 70 millions, the for-
eign exports I cannot lay my hands on,
but the balance agunst us must have been
largely over 20 millions. The paper cir
culation nearly 95 millions. In August
the U. S. Bank in order to make atrcmen-
dious impression entered uponthe scourging
rxpcrimcnt, b rom the 2nd August to the
2nd Oct. her curtailment of discounts on
notes and bills was J54. 066.1 16; notwith
standing the increase of the government
deposites was 268,50 1, showing
the amount of more than 6 millions oi
lollars withdrawn from the businesss of the
country in two months. Add to this the
collections which she forced from the
banks of Philadelphia, New York, and
Boston, to the amount of 2 2-3 millions.
dd to this again, her further curtailments
in Oct. and Nov. of nearly 51 millions.
for these two months. - Take into view al
so the necessary curtailments of the
State banks from motives of self-preservation,
and we must be convinced that
she succeeded in producing a pressure
on tiie country to a most distressing extent.
Can any one mistake the object of this ''great
Regulator of the currency"? Impossible.
To what farther extent she might have
carried this wanton ruin and desolation it
is difficult to conjecture, if the Secretary
of ihe Treasury had not stepped in for the
relief of the suffering community, & remo
ved the deposites ot the government and
thusdisarmed the monster of so much pow
er, for further oppression and mischief.
This scourging and whipping experi
ment would probably have the effect to
make the people clamor for a restoration
ot tr.e deposites, so probably she thought
and calculated; she intended to exhibit her
power, anil lo intimidate Congress.
In 1834, the number of banks was in
creased to 506, with a capital of more
than 200 millions, a paper circulation of
more than 103 2 millions & their discounts
300$ millions. Ihe imports and exports
of this year are not within my reach, but
judging from the circulation, the imports
musi have been greatly increased, adding al
so an increased commercial debt. It will be
recollected that thiswas theyearof thegreat
panic session of 1834 5. But I forbear
remarks upon this subject. It is sufficient
to observe that every manoeuvre, ever)'
corruption, every misrepresentation which
the Bank & its advocates in both Houses of
Congress could put into operation, wasexer
ted to force a restoration of tbe deposites &
(the natural consequence) a renewal ot the
charter, or ti e creation of another Nation
al Bank. Threats of personal viole
the President, the most outrageous vilifica
tion and denunciation of the officers of "-ov-emment,
the most base and unfounded ca
lumnies and falsehoods on the administra
tion tilled the bank papers of the day. The
most tremendous ruin to the community
was predicted and threatened, if Congress
should adjourn without granting relief to
me people, 1. e. without restoring the de
nositis. But Coiurress did semniP with
out restoring ihe deposites, and what was
1 he conduct of the bank? Having seen thai
her scourging & whipping experiment had
iaiieu in us oojeet, 11 had been relaxed foi
'uic wiouiii?, .100 now commenced again
iuvui ecu cases oi me people; nor
was it long before the amount of her ac
-Ilm.n.lnt,n i..
U, . eir.ct of which wa to unIoMe th ac;
tion of all the banks, to stimulate into new
lite the wildest and most extravagant specu
lation, vast importations ot toreign goods,
oringing in their train a vast increase of tht
revenue ol government. This desperate act
of the Bank of the U. S. at the moment
when ihe should have been preparing to
I his pin pose
- 'j
s Ve-n llic rct! cla'd
ihe evils, all the debt ana upp""'
which has followed and still oppresses the
country. It has been well remarked, M.nt
the friends of the Bank would rath-
Iheiinu
ur uu luiutu ijj ii, moil --
i i i . r i:.,;rr viih
tj ne gouuuHMH.uupw i..b
Of the year 1S35-6 I will just observe,
that it wasan important period in the gene
ral insnnitv. I bp. nrosrression ot over-
j i .
banking and over-trading was accelerated,
the paper circulation nearly 14oJ millions,
the imports were 190 millions, t lie ex
ports 128 millions, shewing a commer
cial debt of 61 millions against us.
In 1S36 7 the imports were nearly 141
millions, the exports not quite 1 171 mil
lions, shewing a balance against us of about
23 J millions; the circulation of paper 149
millions, and the loans ami discounts 4571
millions of dollars. The number of banks
567. This year is remarkable for the pass
age of the "Deposit law," claimed by the
whigs as a great whig measure. It was
destined to damp, the apparent prosperity,
in its execution. The derangement of th
money market, from the displacement and
transfer of the surplus fund, to thediffoieut
States, was severely felt in our ciiies, and
all the evils usualty attendant on such
movements, were liberally ascribed to the
administration by the whig party. Fortu
nate indeed would it have been, if all the
disorders of the year had stopped at this
point. The sagacious Bank of U. S. fore
seeing: no doubt that the bubble of the
credit system" to which she had givn so
headstrong an impulse was soon destined
to burst, had in the spring of this year (I
think) effected a loan of 7 millions of dol
lars in specie in England, payable in 12
months. Accordingly towards the end of
summer, we began to hear whispers from
the other side of the Atlantic, of precau
tionary measures being adopted by t he-
Bank of England, against the exportation
specie Soon again that the Bank of
England had found it indispensable to
raise the rate of interest, and restrict the
circulation of its notes. About November
we are given to understand, that mericaii
exchange would no longer be discounted
by the Bank of England. At last the fiat
of the Bank of England had gone out, thai
the only American bills which she would
discount should have the endorsement ofi
the Bank of U. S. The immediate fall of
the price of cotton was the consequence
no remittance could be made to England in
this article. Consternation nd alarm sei
zed on the trading community. "The
great Regulator" of the currency moved
amid the ruin, which itself had prepared,
with Ihe laugh of the hyaena, proposing to
lend its expedients to the desperation of
the mercantile class, and reaping large
profits from the distractions and necessities
of all the trading classes. In writing let
ters to distinguished members of Congress
for poWtical effect, filled with the grossest
mystifications, falsehoods and quackeries;
selling bonds on Amsterdam, Paris and
London on long time; making its own
conditions, and drawing the highest advan
tage from the desperate merchants, seizing
every possible benefit from her position in
relation to the other banks of the Union,
we find the President of the Bank U. S.
impelling the &reat measure so near his
leart, suspension, to a point, ihe mer
chants were encouraged to draw snr-cie
from the banks to pay their debts abroad.
and the exportation of the precious metals
00k nlace to a great amount. At lenir'h
: ii.. : ,.e ioot n. 1 1. . n
111 me jiiint 01 aoj, luc general crasn oi
rum met the delignted ear of the great Re
gulator, and the great. event for which it
had so earnestly labored, suspension, gene-
d suspension, was hailed by it, with unaf
fected ex'acy. And il is now matter of
history, that the Bank of U. S. Pennsyl
vania would have continued the conveni
ent and profitable suspension (after the ex
ample of the Bank of England) a. quarter
of a cenlurVi or perpetually, if she had
possessed the power. She monopolized
the crop of cotton for this year, set up the
hold back" system, and continued the
game until the succeeding crop appeared in
market in England. Thus the ruin of pri
ces, and the planter's prospects, without
the shadow of doubt, was the result of the
action of these two banks, one each side of
the Atlantic. Thus did the whole Ameri
can community lose at least 10 per cent.,
or much more, by the irredeemable paper
of banks, and shinplaster. Thus have the
banks ot the country, those irresponsible
swindlers, at one suspension operation,
pocketed about fifteen millions of dollars
by the depreciation of their paper, and
how much by other arts God only knows.
The imports for 1837-S were 112 millions
nd upwards, notwithstanding the distress
es of the country; the exports above 103
millions, paper circulation more than 116
millions, atill a commercial debt against
us, of 9 millions was added.
Pause now, fellow citizens, and recall to
mind, that all these distresses of the coun
try have been laid at the door of the Ad
ministrrtion by the whig orators, and by
the whole whig party.
According to the late Report of the Sec
retary of the Treasury, the imports for
183S-9 were 162 millions, the exports 121
millions; shewing a balance or commercial
"icui agumsius 01 4, minions. 1 ne paper
circulation lor 1839 was over 135 millions,
and for the present year 18 40, 107 mil
lions shewing a sudden reduction of 2b
minions, to which it we add the reduction
of 14 millions since 1S37, we find the com
munity has sustained a diminution of iu
. s i . i P A n til nf ft fil .
circulating rrcemm. wi h; .
lars. isttie orv oi -iiiu"i 'iiw-.-,
carre," now to be raised? Is it intended
to affect the presidenli.il election? How
much farther is ihi reduction of the paper
circulation to be carried, before November?
rp, .
n! I hose quRftion?. fellow c
citizens, are oi th
ronSif,eralion.le, mc recommend them to
your rrfhrrtion and observation.
1 mig' t add largely to tin sr? details, but
I fear your pdienre would not hold out
I mi"ht detail the insolent and daring con
ductof "the National Bank," in its at
tempts to control the action of the govern
ment, for paying off the national debt, by
postponing the payment of the three p-r
cents in 1832. and January 1833, by abase
intrigue. I might menii-ni the fraudulent
robbery of the people of 35000, beinsr 1-5
of ih expenses of her agent sent lo Eng
land, to accomplish l hi. intrigue. I might
mention the robbery of the popb'of 1-5 of
80,000, or SI 00,000 paid for the print
ing of defamatory libels ag;iinst the gov
ernment. I might mention the robbery of
the people of $ 155,000. on ihe pn teneeot
damages on hilts drawn on tbe French
government. I'll' this is all history, an I
whoever chooses to seek the information,
may lead it at his le is ire.
But there is a system established by
this Bank, which has been followed by
t he other banks of the cmniry, the con
sequences of which will be felt, by
ages vet unbjrn; the evils of which we
have already felt, but will be more severe
ly felt by posterity. Millions of irrespon
sible paper, have been signed without re
gard to any specie basis, by the Banks, for
the purpose" ol investment, in St !e stocks,
or State stocks, w!i-c:i have be .'in sent to
Europe, and disposed of; thus forming a
part of the foreign debt of this country to
an immense amount. The debt of the
States abroad, is already neirly double the
public debt, created by our revolutionary I
war, say 200 millions; and it is believed, I
that the whole whig party in Congress, this!
very .session would have assumed the debt,
as a debt of te General Government, as a
national debt, as a debt of the whoie Ame
rican people, if I hey had believed it possi
ble to succeed in lite attempt Hut the
democratic party h is saved you, for the
present, from this national debi.
P;iuse here again, fellow citizens, and
insider well, this attempt rf the
whigs
upon me people. iNotin Laroiina owes
no debt abroad, but how long it will be
before whig management will fix one on
you, we cannot conjecture. The people
alone can prevent ii, at the ballot box.
How would you like, fellow citizens, to be
taxed 20 millions a year to be collected
out of your pockets in specie, to pay the
debts of these States in Europe? Look well
to jour interests, or I predict this will hap
pen. Remember this warning.
A very intelligent and close observer
(see the speech of Air. Marchand, of Penn
sylvania, 8ih June, House of Representa
tives,) has estimated the gross profits of
the banks for 10 years, from 1830 to 1S40
at w?359, 152,6"30; averaging the profit of
between 35 and 3G iniinut.au year! i'nii-ty-five
millions of dollars! paid by the A
inci ican people as a lax to the banks every
jui. uui. V VJ I KUI OVy LI Id 11 I) U
equivalent fjr nothing. Yet tbe people
pay this tax to the banks as surely as they
pay their tax to the State. Yes, the peo
ple pay this tax, hut they do not .see it,
they do not suspect it. liut suppose Con
gress had past a iaw, tu culled thin 35 mil
lions lo banks by a direct tax upon your
; -o
nrtnnrliif
ould you not use in rebel
lion 10 a man and drive your dishonest
members from their seats? Mo.t certainly.
Yet you pay this tax without knowing it
litis 35 millions is made annually out of the
people, and are the profits of banking.
This is an at-u tiding development, hut it is
true, as it is alarming.
Hear fellow citizens, another truth. Du
1 ing the same period, from 1S30 to l40,
the whole gros revenue of the Govern
ment oi ihe United Stales, derived from
lands and customs, amounted in the 10
years to only 2S5 millions 74 millions
less loan the tax or the revenue of banks.
Strang-! most wonderful, but most true..
The lmtricitn people are taxed 74 mil
lions of dollars more in 10 years io sup
port banks, than they arc lo support ttu
Ueneral Uoverumcnt!!! 1 his is ba.ik
government, and what return does it ren
der for the tax you pay it, so much great
er than 10 the government ot the un:onf
Why she gives you eternal hospitality to
the government of the people's choice, an
array of faction and party combination such
as whiggery, to filc.i from you, your rights
and interests, attemn's to embarrass ;oil
control the action of the General Govern
ment, she gives you political interference
in your elections, she gives you expansions
and contractions, fluctuations in prices of
tne produce 01 your industrv, instability in
your trade, over-banking and over trauimi
an irredeemable currency, and depreciated
paper, (and profits by the depreciation,
she gives you suspension, distress and ru
in, and then joins in the cry of the vhh"
against ihe Administration, as the author
of the evils which she herself has produced
and forces the people if possible to pui
down Vran Buren and put up the abolition
ist Harrison.
Let us then enquire, fellow ciiizens.
what you receive from the government
of your choice? You receive peace abroad,
and the respect of all i.ations; protection ol
your external commerce, and trade with
all nations. At heme, the protection ol
your domestic peace, of your life, libertv
your right? of conscience and y0llr ..
ion, your property, and the true a-'
trillion of equal laws, and of y0Ur f Rlln.'9'
stitutions. This and mnrh -ree in.
vou c-m boast of receiving from u hH
eminent of our choice; and for a iav T'
millions a year less ihm von ?
J CT - II R
h.inlcsU! Your :rmv- vnm. . ' l'
vonr int...
pensioners, civil and diplomatic expe
all the expences ot this free ami s
nw tree and effeMi;
nee
ctii
government, are p;ud with 7 mill '
dollars less every year.
than
ou pay k
this whig bang government.
But my attention has been loo much r
ver'ed, by this digression, from the m
fUULl J i""-1 " .,-. fc OllUU Qg
tinued in my next number.
COq.
CURATOR.
fVashinirfon Market, i2i
'Corn
i.fr'i.iii ' .'-ill 11 ifiin tew..
l , I . 1 i XT ' J ' I
ui,-ni;, nriiijs iu eeiii.'. iav:i st. t
New dip, $1 75; Old. $ 65. sT
70 cents. IV, $1 25. Fish shad, sa'i
Herrings, cut, 4 00; whole, $2 50 ' (
S: 00. Hep. 1
DIED,
After a short but s. v re illness, a V
residence near Cooksville, Noxubee CoJ I
tv, Mks , Mr. Joseph J. M. Barnes J
the Sth July infant,- a'; ed 25 vears. '
(TpElder E. Harrison is expected to
preach at Kehukee meeting house, on Sat
urday and Sunday, 15 h and 16th Aut!
Monday, at Conoho; Tu?sd.iy, at Croj
Roads; Wednesday, at Coftctoe; Thurj.
day, at Gum Swamp; Friday, at Tarboro';
Samrday and Sunday, 22ad and 23rJ, 31
Lawrence's. Com.
)xlttn eiivrcnff
Jll Tarltorousrh and j'ew York.
AUG 15
rjacon
Unruly, apple,
I per Tarboro. New York
H 0 10 10 n'
; gallon 70 100 40 50
! lb 13 ir 9 IJ
bushel 40 45 57 6!
I lb 7 8 8 9
yard 20 25 15 16
I barrel $S C $5 6
lb 5 6 3 4
lb 9 10 7 10
gallon 45 50 22 30
lb 10 12 6 9
bushel 70 75 32 33
barrel 150 160 325 S3
bushel 65 75 120 139
gallon 50 60 42 41
Corn,
Cotton,
Cotton bagginf,
Hour,
Iron,
Lard,
.Molasses, -Sugar,
brown,
Sall,T I. -Turpentine,
wheat,
whiskey,
JYotice.
1O0UND, on the road between Lngsbo
rough and Wm. S. Hiker, Eq., on
Tuesday lat, jJ CLOTH COrfT, k
the pockets of vvhich werea handkerchief,
a shirt bosom and collar, and a small sum
of money. The owner can have the same
on application at this office.
August 13, IS40. 33
Notice.
nil HE subscriber wiping to set lie with
all his cieditors, wishes to sell
A TKAT OF LAID.
Containing beiwecn four and live hum! ml
acres. There are a Comfonahfe dvvrflin
bouse n;td nc cc -sary building for a fami
I) : al, .n" oilier small framed bouse,
with a good brick chimney; on the same
;ire oiehaid, &c. Tlxxe thsit wish lo pr
chase will call on the subscriber, they can
view the premises when called on, anil I
w.ll give a bargain
IV. D. HOPKtSS.
Ausfim 12th, ISO 33
Caution to the Public.
per-ons arr
hereby cautioned
or n ceivinj the
a;inst iradii lor
imiuwmg rs ies in an
r . 1 1 - xt
V way. that i: 0n2
no e of hand given 10 Martha Biucefd
fifty dollars, payable the S'h day of Sep
lember 1840, an I bearin g dale thSihcf
Septemb r 1S.'?S, wiih ?' jimm Moorea
-ub ciibmir witness; and one other no'f
iiven to M.inha limce for fi'ly dollar5!
dated the 8ih S- ptr-mb r 1838, and onj
maud tjth September 1841, wnh Bf
-nin Moore a seb-cr.bing witness; which
notes I do 11 f intend paying itnti) I k00
who is the proper v rnn in pay to, a
ibey were Itaudulentlv b'ained.
EL IS I hi FELTOX
Julv 24' b, 18 10. 33 3
To the Public.
"ti l "rj 1,1 "aun.g lor a onnu j
mIo in 11.. I.... .. 1 e. .. .iKiimO'
iu mc UllilL'IMgllt'U IUI llir.-"
one hundred and seventy dollars or.tt'6"
dmuis, executed by Solomon T. B'311'1-"
ind dated sometime in June, l40-asltie
-aid bond has been paid.
WM NOHFLEBt
Angus' 6. 1S40 32 3
JYotice.
TILL BK SOLD, without reserr-jj
Hons door in Tar borough, on
ihe 24th day of August, (C.-urt day)
E'cvcu I&nrcs ol'Stock ,
In Ihe miminxton and Kaleigh & '
Head Company, ..
All paid in on a credit of twelve
with bond and security, hale at I " ( r
LOUIS d. jrisfi
Tarborough, 3rd Augt. 1S40 "