North Carolina Newspapers

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' - .-n.r fiutt cuc4uc 10 line Ihi
TVk. ..iMHi mehtl of Clrk Slwritit
JitHio T33S -T"-'""
fcw Wrtwrr kj tax yar
Illf IV HH r I '!
PEC1I OP MB. CAMIOIIX,
1 or nvfk Ciotri,' "mi '
' SubTrcniurr Jttltl
Btlivtnd in tht J the UmltJ Stfilei,
J" . in IfilJ
Ilivin now iliowa htyt- iW Ujp
r combination f bnk b forintd
awl reiwl, ilh the diSicattiet i t?ie
war, it remahii to detorame, wliat will
b tlie true character ami nalart af tlw
nBibiMti ken farmed. It will
cuniNt f State bank retaining their
eriaioal pwer, that if-licwmtlng
anJ all without oem a iae angntrai
Aerrr ininaired. 'Tlha the aut-
atitutt prwpoara to aJJ imrturtaat ar
i)itioo to recrW Uirir at a go(l
and ailvr ia tae public daws, to pre
Jhtaajht-M jJJllw-pbl.4eaitea,
aai l oranIe aniTBrewl"fh7 wfiiite
iataorf, as the fiscal agent f tke Gov
ernment, to b placed oiHler lite im
mediate super ioiii and control of the
Setrttarjr f theTreasurj. Now what
does all thi amount to? Shall name
the wora-b aot ftartJrdl A HANK.
GoTf roroent bank, -the rotfx
temitf, power In I and dangereat, that
eter existwL w.Jd.
be the act of incorporation auJike
prif ileaes it confers, so much alHtU
al bankinz capital, increaini( imaien
It its powers, and giing it an uolUoiu j
eil control over, inv uuiup, hiki c
changes of the conntry. " '' "
The Senator froni Virgima Jt r.
Rires was rwht i' sapping , that
this new trial ofthe eipnownt would
be made under terjr dtfl'errut circum
stances from the first, and Would have
a diflVrent termination. That too, like
tliit. was a bank a Government bank,
at distinguished from the , Utc bank
to which it was act op, as a rival,! and
was at the time constantly so des?g
aited in debate." But. the circum
stances hpw are Indeed different varj
Merent, and so would be the result of
tl tiperimeat. This ; bank would
not be the same rtcketj concern as the
former. ' That ended in anarchy."
thU would lo'deaotttiil.-' I wilt "tt
lain. : ' - " ' . - - ,.l,
The former failednot a stnuch in
conMOuenee of the adverse ; circum.
stances of the times, or' ait essential
defect-in the system, as from the want
fa head a coinmnrt'senioriucn, to
tliiak,-to winandecidelor, tht
wliiile, whichwas indispensably ueces
urj to eaaura concert aad tvo-unity
f iesig and execution. A head will
aotbe wanting now! Mr. Biddle
hank will supply (Jhe detect'.' . jIis
wnulj be not, only one of the resuwiio;
baoki, as I hive shown, but would al.
so u one of the 25 to b aoU?cted--'
If there should be theielh'erity bmtf
it, the ptiisent I,,ifetwou14 share the
fate of its predecesaorti .M'rBiWlcs
bank at (the . head' of thosai extluded,
would be' an overmatch tur the ielec
tat, in skill,-capital and power; and
" the whole, league Voutd "inevitably be
ovtrthcu w m " :. JJ a Of tk4"ci ed,' ' lle
position rof'li'u fiiiiit'riir-thTe-teague
would be certain.; iu vast capital, it
eiunsi vo connextons, u aopertor " au
thority7a"n3 liis -Uiir.niMririesBtfdtflc-
fluence, would pUce.it at Ue tieaijj Id
(hin'k and act fur lb i1iIe ,'lTtte.o.
ers would.be as .dopendent orvi Ims, , as
the branches A' the late bank weo o
the . mother k ntrtotiav -Tho'-wbole
would form""wne chtire machine'," in1'
neiledby a 'single Wpulse, 'and .,niak
lg pjTfect C" taM witriispredei
Mor in me uoitv anu euerjry oil its
Nor would its fate be lea (Usuiniilar.
Anarchv! was 'iiilcribrd ' on rW first
the Croat mid -4!nti.il . sltiMiii ii
ensure concert, , was radical -and eould
' bo ttasedhtd, lta 4tridn"witi th
government couU'hot 'soppl'f K" nr
K'.Hiir Btft' vei?;'ditrtieiit
Ada its wtimata union-, with the Uaw
funjent, for which the tubstittite prO
'uc, Minoiaerimrteotpwer, ami
H "would VV-ome-'irrt.tfistit.ie: "The
JV9vernmen(VnM
and eonstilu-t aVuigle powerjivil;
which would, gain ntlie, ascendency
hether1 the Government woo Id b
me the bankiibr the 1ank ' the' Gov'
fntnentTTs neither certain nor'm'sti!
wliiche vcrimight Len it wou'l
Xorm a dcspolic rootey-racy (t may
permitted to unite tnBnaitsln and
tareek word,) altogether 'irfeliat
J!rVMf1ifle.ofTalpr!LW
?nter(;;N'tn.riririB
watchfo. , jenJsuMP-toald iletrcv
supoldrilie ew!rvo rof a Gov
'ramentbahkii" tW bift,t shotr d over
J0?11 U regular tncbroorarTon W.pne
Us "own' uVrtitnte. Git' of the
slender materials lit Trcasurr warrants
ii hiuh iu jmj, puuiie creiiors, .npr
transfer fuads from idape a place, as
iua pouiic otcxica mignt require aoa
four principal receivers f keen the
wi..aiu i,i inim ima2inauon-a iu
tore Government bank, which he; told
;' witMhe utmost tonfijence, roijld
rise lifc ' cloud, at firtt as' bi as ii
hand, but which would soon darken all
the. i horixen.- Now it is not af little
unfortunate for bis confident' predie-
wiw, ttiv mro . aeminai Driacipiv
from whkk the baak is to spnnp, have
all existed from the commencement of
our Government in full forc&Ttxcept
r : '-..1 , r I
uv.iuwr rpofnfi, wnnoui snowmx ut
least tendency to produce the result he
anticipetea, , Notnnlv ears, but .evet
rv eivtixed Government has. the power
to draw Treasury warrants, and trai&
fet drafts nor baa the power io a. single
. . , I k
fimiBuce lenninnieu in n nanKrifwr,
can the lact, that ,iKe moneysie tn be
kept by re eeivers, contribut im the
least to produce one. The public funds
in their UndawiH he as much beyond,
contro ut Ute, Executive, as it wa
in the vaults in .the banks... Ru,. to
shorten discussion; I v uld ask. , how
can there be a bank without the pow
er to discouat or to use the deposifea?
anil out oJ wUlrh I the-provisions of
the bill could -the Tre aurv. b anv
possibility obtain either, nuder the se
vere penalties of thebtlT, . wliicli pro
hibits the touch inr' of the public mon
ey .except on warrants or drafts, drawn
bv those Jiavin? autbontv,in due form.
and for the public service. ?
nut the danger which an excited im
agination anticipates hereafter from
the bill would exist in sober realitv un
der tle aubtitute. There it would
require neither fane v nor conjecture to
mate we. If would exists 'witti air
its faculties and endowments complete;
discount, deposite, and . all t with
which immense means, iruided .br a
c entrat and dircc I i a g Tie ad,and blended
and united with the Government, so as
to form one treat mass ol power.
What a contrast with the bill! How
simple and a armlets the one, with' its
four principal receivers, twice as ma
ny clerks; and five i no pec tors, com-
pared with this complex and mighty
engine ot power! And yet -there ' are
many, both intelligent and patriotic,
who oppose the bill And support' the
substituti on the ground that ihe far
mer would give UHre. patronage and
power lhn the latter! - ttuw straiw
and wnndetful,4heliyersity,f th hu
man mind. . r:2v;)",h n :,n 'i
So far from beititf true,, the vcrr fi!t
f h separation- tf th .'.C4--.r-from
(he oanits, provided fl(r in the
bill, would of itself, be the most decj.
sive blow' that could be iven against
Goverornept patronagej end. tbe union
I tne I wo, me most uecisive in i ia-
vor. ;V hen then notes are received in
the public dues, an cash, end the pub
lic monfHlpdsited in their vanTts, flic
banks Jlec6ine' he fifof ol the, Govern,
inept on all question, connected with
its fiscal action.- Th higher its taxes
and duties, the greater its revenue mid
pe'ndirurej " knd the larger Iff suf
plus, "the more' their ''jcirculationand
buisness, and oC. course, the greater
their profitintMience on all quest ions
At taxatioit and dinburBtnents, and the
accumulations' orfundj In' ihevrfei:;
snry,-their inte.rest-would throw, h?m
on the x'ule of the Government sod a
gainst thsJ.-people.'A;3.'-.(,
n All tins tsreVerseu-,1 wnen geparatea,
1h liiffhe'r thd taiafioo'ani disburse-!
roehisj and sn'efarxer the'jurplijs the
te srroold hethcir profit t and their
tercsts in that case, woftld throw then!
witli the -people, and against the 6Jv
trmtieiit Thea..l",ibvIiJulZ54
Speciif is. , Jhe )J4si,of basking opera
tions; and the greater amount they eaa)
eomniand tho' greater will' be-thi
business and profitt "but! whetf J the
Oiive'rnpien Js''si4rtted irV'p! ,tnVnj('
and collects aivd' piys.a war its dues in.
spfcie instead of tlri notes it. i. clear
that the higher the Hi-8 ami iuurse
menf s,1 ani the: ereatet tnr rplafsj tnl
tnd 'Treasii rV.' ' the more 'specie' will -be
drawnVfrum tliet .use of die bal)ks and V
tne itrts win ue leii te tne mui i uieir
operailona j andcoiieque ntlyi the lest
their pront., ., livery anar wunurawn
frointlifiii" Would drmTrijslvthjr'lil
ppii.tpu refold at least t and jbjnce a re-'
gard to their own intereat .would inev
country .would be great,, and aalnUry
I na -weight ol the .banko wooa oeio
kenrfmm the of the todkmnmerr,
where jl has been from the commeijce"
lijenf pf'hjs GtfvyrDmefijt,1 and ptacei)
oi Iha.side of j ihe Jx, paytr$. ,n Thw
neat di vision the community nccea
sariiy grows out oi tne nscafacinin w
... -.. r
(he Government Take taxation ani
tPborsement (osetherl and ,Tt "wjll al-
ways be IouimI thatone portion of, the
communitv pays into the Treasnryrln
the ohap of taxes.--more than it re
ceivt Wi?1n n0f di'Wrteraebt4
Knd that 'another i.receivei f? more
than,, t. pay, ..." lormer are ;He, u
payers, and the ' Utter the consumers
making the reat.Vssntiat, and chn
troU'rtiff tRvfsion in U'clvflfoedioni;
mnnifieVlf," wtthj atll UiGoyerp,
mept has been thrown on the side of
Itabty ptuee thee"bn the tide to which
I have assigned them'-1
Ij'Che f fleets n "the. politli a or.'thi
the emadmVva ft na it
tribnted W iu alliance with the'bioks,1 MlibMiof, A lubkUto'te atlhepleaiuH
whose inBuenee has been. In 'conseifof the Government .'" -
quence, at ail times steadily alid povr,'
erfull; On WatnWei""It Is to rhis iriiiJ
be traced a'most all the disasters that
hve befatlenes; anJ tne gteat politic
tal degeneracy of the country. Hehce
the protective system; lence its aiso.
ciated arid' monstrous avstem of dis;
1wrements "hence tn4 collection" if
mersl' nwney from the people fhari Stfte
Government could ; wUire; htbcelbe
vast and" torrepling ' mirpl asee j ' heiiCe
Lcgi Jauve and Ex-ecntive dsuTDsriofii
and finatlyrhenc itRe ! prostration of
the tarrency ' and Ihe A isasttrr which
pre nae ueif present diliberstion.
Revive this fatal eonnectjo'nj adopt fhi
substitute, -- ahd all this train" of eviTt
Win iigai follow with redoubted diasT
teni nd torfuption. ' Refuse t1e cbni
necliowj adopt this bill, ahd all -will
be rrsenrtfir.i and ' we shall 1iaVo
prospect of Irstorine-the Constiliitliiyii
and country to their primitive simplicit
ty end purity. "The effect of the re J
fasal'on the patronage of the Govern.
went would- be treat and deemve:
Borke has wisely said, that the ,rfe-
nue is the State in modern timet,"
Violence aad ! toercion are "no loherr
the instruments of Government in civi
lized communities. ' Tbeirreln is
past.' Every- thing isnbw Mone by
mftefT-Ttisllol'dnlr the tfhewTr
war, but of politics over whtch.ln the
form of natronase, it exercises almost
unlimited "control. J Jut ar the reve
nue increases or; diminishes, almost in'
the same 'proportibn,' is patronase in-
creasod or diminished ''.Li 1
But admit for a hvomeht. that neither
the separation nor the connection wottld
have onv sensible 'effect to increase or
dimmish thwrevehnet and tliat it would ;
be of the same amount, whether the,
bill or snbstituU should be adopted)
yet, even on that supposition, the pat
ronage of the latter would be an honi
dred fold greater than the former. ' : In
estimating the amount of patronage of
any measure, three particulars must be
taken into the calculation! the tljnlber
of persons who-may be effected bj-its
their influence in 'the communitv, and
the extent of the controf exercised over
them . ' It will be found on comparison5,
that the subgtitstecombines'sll these
elements' in a far greater degree, than
iho nui, as i snau now proceed to mow,
I begin -with the ntrmbfr.-' '
Tb bill fMriJ.aa has heeri stated'
fori fonr. principal receivers, eight -or
ten clerks, and a Suitable nimber of a-
would 'constitute 'that only additional
othcers to keen and ifrebnrse the peblie
monef;a The substitute,' in addition to
the officers no win Mrviceprovidei for
the selection of 25 banks, to.be taken
from the most powerful and influential;
and which would have, en' In average,
at .the' least; 10Q officer 'and etocki
bolder each; making in the aggregate
2500 person, who would be directly
interested in the banks, wnd tof course;
under the influence df the Gtfvntmtfit.'
iA's to the relarfvo infloendepP the
officers and the selected bank ever the
eomm unity every impartial men meat
acknOwfedgep that 1l pre ponderabce
would be greater wv the-side of the lat
ter 'Admitting the respectkhifity 'of
thejreceirera and ether uuicers provw-
ed for in the billand lh ofilceri hnd
tb kholdrrs ott thai banks td bellidf
viduallr the aam. 'aiiric the meln of
ccafrol at the dilposiiion of the former,
would be ar.nothtag compared to Jhat
ofthn4atter-Thyould not touch si
ceht of pubKe nibniy. tTheir means
would. ne iimiieo to meir saisrv, wnicn
would bo too smalt' lo b feft in till
communis
the easei whh the ofliceiH""attd fot k -Inddera
voT the- oamkk.ia TJey,f atl
pwrsomif ere by. far the tnosrinfltenfiat
in the enmmunity-! ' A greatei' number
ilrpendtion them 'fort accommodation
andi favor and the-success of their bltV
rieas and ; prospers ilifer thn nf
other class in society t nnd this would
be especial I rr truer ot tW DanM tsv
nectI wiUT4l GoverrtmentT:0
Jt-onlv;remalns now to compare the
extent of tlte control' thkt'lmky be ea
ercised bv the 3vernmeet over tw.
in'erdee to-complete tho vompatmioPt
and here againttie preponderance wilt
ue io una io oe sinainsiyen ine same
sidevi 3 beiwhohj imoimt of pendi
tuwunder the ib'dt -would tiot'tweed
gaO.OOd, or 40,00 imaqtlly-' f 'the
vervs farthest t J and ' this"' tOMtitutee
the whole amount of control wmentne
Govern ment! can 1eKrcise'Tkere
would be no' perquisites,' ha contracts,
joliN oroiocidenut' gin ' The offlee
and aalarwWonld be au.;c JVthit ex
tent, tlese who may hold thm-wrtuld
be drpeiuunt on the Government, and
thustmr the v uiiv be controlled; s fTbw
stantk the, accvuot qn thei olher.side?
What Value shall be put on the public.
deY.osftei iii'th' inUt What on the
reteivabilHy of Hieir o6tes,'as'cab,'b
the Government Jv? What ion their ctn
nec lfn w) jte, Go crnmeji t( aa their
fMpth'wIv.f t!?-W great
a control over' tfie exchanges and busi
ness of the country? How many mil
Kens Khali' Hiee .b'estimated at,' Slid
ho?"ihtLlhificant "must.lbe paltrr sum
'ot 330,000 or gto.wo appear to those
""Havlrts Cdw finished the comnarisbn
as to the i relative ifronare of the two
s!Buces,.IihAllexij;
as nacai agenta ol TJie Uovefnmentj
in'3 here let we iV, at (he outset, that
theliwusrfoit file corrected so error,
which I once entertained. , I'had f up
pbsedl tlif t W haiarn; tr k'eepingi the
Jablie monvy bhder the eesthtfy if of.
M':M'Mt wnl!wn
iFesfer; than . in bank.- The Senator a
fronjjfen Hampshire and CehnectftUt,
rMevsrl. JIinbbrd 'ahd NHea; have
proved from the record, that the hazard
tstm the -ether side t and that w have
lost rooee.by the banks, than by the col,
lectins and disbursior sOicers aomhani
d. t; WhiUfb done to increase the
.MifU. l.M. lj:.: , r- art
7 " jni aciccLMfii iui
CccaJ.-and .,;pronerc orcankatMn.ia
.atrbngty y luatrate by tbn fact tted
oy inavcnairman, AY rigtit,- in his
opening pucks tiiUuin, th War Df ;
part inert, there has been no ross for 15
years,from l to. 3Q on an ,tti
fpentfiture' : certainly root! less ;thau
g 100,0004)00. 1. take some pride in
this result ol an orgiwxation,twhich'I
oriji Bated and established when Secre-I
tary .of War againat the most formida-i
We opposition...:.' U vm,!' n . ij
'- As to the. relative expense of the
twoajrenties, that of the. bill. Is small .
sis, ri-to Judj brappeir-r
anees, is the greatest but if byfactaj; where it exclusively performed' the
the . substitute- would be uBuch' the functioaef ctrcufatlbnind where eaoli
most so, provided we -charge v it . with individual mokt keep a portion to vneet
nil the ml vantage, which-! the banka' hi daily aleinahdsVylTJiisri' eo '-I obvii
wonld derive from theic connexion whh; ous, that lehallnot tindeitale to illus
the GoiernoaeaU' a oughi, in fairness .Irate i&l $t,i-& M,iUM ..?nii'-j nf J'
to.be deoe, at the wholes ultimately .But tle superiority, of the b)ll urir
tomesout of the pockets Of the; pew- the substitute . wowlil ? not be limited
pie.' , Wif.vw 8.vi tt .visls t'na , .eol te ft more favoraule proportion he
lauLansvinurtic'
have the advantage as- fiscal igentl,. hav anothet important advantnge that
They weed be the-, more,-con venient 1 cannotjft.be . well ,over '.estimated it
To this their areteotitlfcL and J wish would make a practical distinction be
t withhold Iron them no eredit, which;
they may justly claimu - :-:. 1
' iTh Senator) from Virginia f Mr.
Rives)appeared to have great apprehen
sion, that that collection of the 'pub-
lifi.dsea in specie mixht lead to lioard-i
ing. u He may dUraiw hia fear onj
that head.; It ia not the genius of jnod-
em an civilized Governments to hoard:
and if it were, tho banks wilUake rare,!
tk. lk. .1. nll k. . I'.-.. '
that there shall be i ioi extraordinary
accumulation, oi cash ift the Treasury.
Pass, the nil Land I .under-write,, that
We shall never have ague to complain
orasttrplusat.veottld rareWO if ever
UfApeaeejandi settled times, extaed
M flJni miffing
ot specie 1 would s If a ;te. war,Je&s
grpundlesa.-.The dangers i a another
quarter, .War H the harvester banks,
whenitheyai reatcleib-withrFGov
ernnjeuU .The Vast increase of levepu
and expenditures aad thaj enormous
public toans wbKJunecstnl jepure 'euect. on Ui , currency,! 4r to-de-mainlf
to their advantages swell, their cidejhe question of their (rrlatite. ef-
profita 'iD war t the -utmeat limits., Cut
separate them from-.Government; and
war would then per t--lhemk a state
et tamioeor . reaaooa wnicn ,musi.-.ie iowis iniuuuau: anitnuuBcss gcnerai
appaneatafter.rwhat ,hu .been; said; ilyjandan unsound and fluctualingeqe
whiehr would, threw itheir. weight n the.now expanding andtio ebhtracting.ao
side of peace ftbd. againut wari juatas thalrahoaeit . mani'can tell what to
certainly, as, 1 have fdieWsVt that the ;do,,'as. among tlie greateatldiscooTJige
sepArjitipB would throw At.a die ideof "intl. i The drtllariaadt thg1evare
taxpayers, nd egainstilhe tax !conyt the measure of valueas the: yard and
ttmerera.:m, W
,,1 come new.i to thoicooparison of
the effects of the tw measures Ion the
currency of the, eeeOtry.. ItfthU.ireM
. .ul a ... rm i . V.-.iU . VI-
jvesjkeemedte: think,iJhti!h' tnb-
atjtuta-wouldJiftrftiakgrjaUaiiirM
oyer die billi but hi reaaous , were to
me whollr satifact6rr.,lUfiwe?ar
tolad?e.troraeiperiedceiViCaUeht. to
irtr priHTjnced4ebd4he.
safagure.) It baa been in QptraUonat
twueeacrt iefioei ftaew.jearsiaMicefUvyijrur pyeFw.iPjLHe fnnnejs
thw obmevrncasnent af thtf,-Gwtrh- institutions of the coontry,.teritfhe
menu and it hat e iiappeosd. the the inaaMre,Bf.vaJue But I i Kft. lartlKr,
only two eiplosions of .theurreny
occurred purine these pefiOKs.3
without divine fin these, dMaslrptitc!
eerftucesiiiwe have, seen .enoughs to
saUsfy The most incrtdulsUs that there
are eat and cad if i i tlcfetU ii if oojt
U4nk.:ru)tioa, '.bichtnereiptby
hehetforo applied, has been able to; r
more:i ;it erigmavca iftiiine.texceas
papsr, compared. to. spetiMaoU. 4h
only efiectivej cure, H lo increase thct
laUer: n reonce the ldroer an thil
the aulitatu.JtBeiuffipijedly,, as
nnvwletlgela;; by-i propoemg , j-emedy
Uvrt would Airove ,whol,lyj opettfv.4
ll propose uiai,' auer a enai perima
mentioned naee vf the uk . ta .be
selected shouhi isntte nottanntfer vtet)
dollars .Thft eflveis .wenldNsSeafij
be. not a diminution of-ih circulation,
small notefc bul a juew ,diisioftl of
live Jinking buaiatss.ft wuicji . W
isauSef Jargeflfllet wol4 ffilb.te. th
M or.the selected baukaodtbe smai
te. the other,: witheU?tTltlDKt
the least, the aggregate .amount of, pa
ner CtrCUlatWrfo V'i a '.nam i4l!if
. : Bat what, the aubstWuto, would .fail
t do, the bill weald, effsotnally, rtm
d v t.Jfone doubt., bu t Xhf, separafioa
from the banks would greatly increase
tlie proportion w( specie paper ;but
Ihe penatof from, Yt?"-'! I Mf r
anorehend. that operation would
as to destroy the banks, lit argu
7' ssassswnnsssapsKsmssssnaBas
meht U,it speci' woild oe afwvy s,
t8.prem;WthltIPfwofd,W(
impossible for the-hnki ' W Ido ' busl.j
ne,solonr1hs f,tTiats vria tve cise.
His fears areMt;rndles:,'k
rrdenUieaK-AYhaf2 he
ivi i i.vifin.i tinn, "IU WCAr.
a premie. 'w.tiltl havV- the" double1 el-
ieei, louiminish paper rirculttlonratHl
iacreasctlve fnptirtat'bii o upecie.-till
an eqsdibriura between the tw!wold
be restored i1 wtien,therJwtoMfltfat
waf, AtK'ilmt' rm'tntthW wtdi be"
eoectei), s V Httleneertmt''btit'the
tear is, that with our decreasing'" rev
enue, instta l of the specie' bt"tf in
creased to eicew, it'WMnld' nor M 4
ereaiese(ricietl v a ( rlve'the tfrfsir
Ovl stability to the enrrencf.'"11
In this connection, "th Senator urs-
iLa nbietamt aetaat tlit-hdlj wlikh
I retard aveOWhollfitiiirftu'. lie
said that 4bf payment of h4ae of
tho Government in apeeie ivoatd1 ere5
ate a doubled demand a dome(ic, as
wait ss a foreimit ; the i ffeVt of which
would be toi iucrease treat ty, jt flue
Mtauwns, ana aoeepy . was ''He6 inr
pressed with the idea, that he drew a
vivid picture of Us al ternate flow front
the coast-to the interior,- and -' from
Morth to South, ami back a'aln.' All
this ia the work ' of imagination.'' The
effect would be -directly th revervew
The. more numsroas the'"demands,
the less the fluctuation t so much an.
t ween currency mndi eircolat'ion, be-
i ween ue currency oi the coantry, and
private hnd ! locei circulation; . nnder
which head bank paner would be com
prehended. t'lTie effect would be, Mo
ren ler a general eiplotion f the cir
CMlatt'oii'. alm'osT.'iknpiUsible. 1 W'liate.
rer dcrtnjrtincntft'iuixht occar would
be local and confined to anme one ear-
ticalae comineroiat spheref and eved
ntlK'.. . IMt. in
wtttun iita, lunitt.-therev would, be.'i
sound currency j. fallvUack, on, ot
partaking; of ihei shock endi wHlcli
would graatly-.. diminih ihe f aa tensity
d duration of the; distma.lB-lhe
,mean time, the general bosinesa an
;8W8Sffthffl1rTtrf deaftngot
;Bnnjj? xml -ht a Hid ;d '.-.am or
- Wills afewemarktnn,tJieoepflir.l
atiye.e(Kctspr thef two.snettnres? en:
business uf lhecoan
try,I shall conclude their compamsoh.
j Y hat ha been M'd' on thrir relative,
:fcts on businvss and industry.;!
)rih14 sound ind atahl currency
to oe amonc tne greatest. 'enconragewj
mejou sneiare m quanuiy.nna-what
whtliiok ef the isorpeHitiesi of
companies to rtrulst ?the tatterwto
expand v'6V''contract,v'bv-sTiortNM'iiir
(nrn'-ttm ,l'4n -ullt.Vh
priyilegelq s Bj 'ih; cpntrVcted ,.pr
or lengthened - Ji it nat aeeur that it
woujplace ,lh .vhda -indJrr .aadi
'busines of the country Andes the.cnnrril
onorceftauily effect iMhap MrUWt iM"ulea, aiKfatasii wrd.aa.
ndartniWJPMy at the, excess
oi paper cunency, as weii,ne.;pn;:
wanes is.uniAvoravi rj,te,). jm-
duster, apd (intinee oMhecoqntry,
U,raue,the pqce,ot everjltnngv and
coqsequen.tlyiticreaaess.ilht, iwsceX,
proa uc i oq anu .epnsM mpjuan r aqfi, 4H,i h
the.cBdj hot til jo evenr branch m in-
! I hold.-tliat snecie and,, napeif' have
each Uwif MPr,o'peenpherflt Aii.lM
ir-tor wree,
andvthe,orme'.u,f all othet4( anl,that
the nearer our circulation approaches
gold and silveiy popinstentfT with con-
veniencyyliie better the industry
aniij ,tjf Jwi woesl ejfiejjcou pfry, KlThe
eipre fpeciehe. liefer, till; that., .point
combine iiythe giaatf t pu,f'ble, legrf.e
sounupessanu- iafiMJJv' fB't 5W0Ur4, ,?
favorable Ro ifhf $ roductjve Uaaef
BiversallviL mean men of, huiipetx.
planUrs,r,rnrcnUrand,spsnnfact-
ares, as well as operatives. It woulq
be narticularly.favqfablf Jlf the-osrtti.
Qt.SrfitP,e!" icashj; a rtitjei
hyf.Ve Sepatof froW Mjsiisipp, Mj,
W ALxna, ) at the extra sesaiiin thaf
we oU t,ifth, priea nd;jhnugh,t j at
neapcB pi
commactifapv:Bjigat'ng;,invw
It would cheapen productions and be
ii ' 11 'u.-lhiwiii hiiiihii ji lji.
- fof miiiafactureiiin liruf oraiirA.rr
tariff. It, epToet, woal betoeS!
them Mmret freigvcomwtitiun not
oj raisiiix nt ices or hiirh t ut
bteuafc ii theniio" aelfi." tk-J T-.
mi 'MWIIC
toonite ever jnteresf. and tlac
C'nrn6faVjifrrnth0atn'v!;a
l; ft VW only'motti VhicU
wir
basis;
baVikl.tt4Mhi!rtrinnel
the)ipeBi10o rhpyrtf raym'ehU:
the 'tnfeYfK bh 'llih Vuinl JktfmateJ aJ
slt per ent.(r,t m.ghf to be niiher:
would give kh ennua IricomVtii those
insttfurion 'of epWifds ot ftiSriV mil?
lioasf end this iilhe sum traflv paii
by rhe' etflnmumfffur tiinFucctfiLino,
datnVTOitheeiceis-'of Whiih -w.
eweoyr bfoated and rfnstahW L,i.
iion:"never Wa J ft" rireulaf a
worthless; furhishe,! at'sh deara fate.
lforn1nhoTVitrvM aTjbsT'
millions to that head, wl.irk -,,.,1,14
leave ttpnrd ot f wenfy Inlflloh1 'an
iual Wi is' 1h ' profits' erireJ ront1
banking- privileges1 ever and alSove la'
uir
a . .i...'. A j . . gt .r
syattfti isnolalohihiog to great is the
'"" cipansaiion oi iha
oos ihen.ef ethi ftjee1. devoted nhem3
elveein vain tod'.scvae'l!, tft f 0DU
verimg the baser metals into gold fnd'
silver Jwl wehave ejonferfed oh I per
lion of the community an IrfxtHE
higher . of cunarila tna tA'altv,.
IfluU andperpsaoe, Into thipfecea?
netU ead esglit wd U tie iarnrited
iut uui u cueapie 4he 4rtaBU
factarereii nd he aler.to t he is.
tho cbmmunity, should ;he so) greettya
over, supplied, and withiwt key refer
ence to the interesti'toe id ill.', mmd
of ,tl,meHiidty?-f tfoat vil
; iktit. axej4wJur'wevinaamewd
IP almeatftl) vuur'itOfeovtjBiitr
end prosparity to the bankin;yi'tn)si
not) ttitjahoeld failv tlift age ot batba.
rism eoftjd ayiin retarsul . t K4 sups
posetf . thai, tlik -hss1s.of. nur proersriJi
ty, Were, ii r & K lutit ndent: the wide'
spread 4 fertile rrpion iwottni'yriatad
the hereditary in till(ge'nceeiid t nerty
oi tne atec K, bow which we ai e dentui
edbut it aeems, Ltkatall. these gofer
nothinffi l that aha? haokswre' e tern
ligj(I:snake no war!j thenv-Ail).
I iitL"W; i: ;that i thftijGuvemmant.
shaH ! cprate from hem) vshkh i b-l
lifrve'viu. be iuUnhablei lorilli sia-J
alJiftte saviirrted. bath wiiMeeada
formerly. Hut I caneot cencerun M
trihfttipgtwtlieraoariiitpruveineBts atii
pccpipetity. eri"hatf0they OTntsfhitOdtef
giveaatroit? impala ita iduery atd,
eii.tfipria't in the-early atagesnf f heir
ope xtkvwtx i. aoabt;titH Nmhinrw
lipre atimulalinf, itlvaa (expandWirt
ftna tlepreciftfihg euteenry ,1 creatts.
ft; dejuaive appear ne of prbsperitr,
Which . Ituls ftprr lKino tn . miatiim.Lu.it
favji put feela a if he ,Breiir(gf
Hcaeaa price! rUeiiairjliHiate iaaiftr
pvicl tiexeita at fiieaad he rfca '
prM ajer warva; zn4 he daagit, nicac
H te u sea- u a h ai a ral e i A t W t n t and i
energy , oeet, ib jerminaVe iui wreS
spondiag dew-esaion aod.wakpftTeri
is J t Jess , ce.ruio 4.atthe ti.nulu.otij
currencyi espamUiig beytU Uprepew
iimys,,, ioitowa!;!Bf;faesae,JWi .-Te
have bod Hfto)n.;U the: dej
pjsaioohaa aucaprdd, R4Wal)aiii.hJnlr
M l'lvei.r 4vUw. 4 WtMee W0
WWRcaj tlja.tiainjAijEMauwtftt fther,a
'W, e?V oe. and4tkMUaauw
WlS fAHMml tf be- grealersihaav
Mrer.mr;.
HlkWgisxeoiuH f aMnJaJ d Jt g: rt
tu uur uopie.euMot and rpanertr has,
lt.
...v..,!,-,, K,lri tiii ever ue Com-
witb"?addf. artiVShHdJi;
tdeirrencyOuVinieiiuHr'InvehV
tionr nd ir..7tta?tr areVnuaf if.nl
PeopleraWhl1-du?manraeirsiS,.?
i a'SoundtuVreiie'v and evvl ::,
td' theef !competi rfoj 'with kder ea ' . n"i
i "in, m numc or Jroati. uiu with ft
Mohtedfta Buctoartni VaWr'ai c'ola
tlotf 'thii Wlfl be'.imposSble.'moh;
Ut many drawbaeksr it levies tf mn
,1 have1 afre-it'-sYed if al 'cfrrtl
mu hh 1 a it; 'f;r - - . li ,
ftbtedld the
conainemi ft tntereit oir rralspsr;
hts r.fficntt tf Yttlmkf A boqtVoul.V
Ippoe?M knVpleW ef4 JowVf Viff
emnensatmn' Die 'Msi.vi1'
vested, which M bouV mtft py,( sd
wAiicJtMat nftiroabyfaH pn tWfn-
dutry 'ftndr'busitiess'fof'1 Ihi iraintr.,
UUl IIIIS
already beeo. tfraMmtram' '
eftcta wjil, bervaUy llowi Jea4hsS
ctif hl'.'tVlhftJi i ta itowafjlaj
which. Veuld . be. the. aduDtton. of thtm
f ijl AS fm r rteiident.finihdiMll - -
WWwmfr n4.ave iqng ar),),,
pateq 4if pr.esefltosintdtdsnoi
jpet arrjMjpy, timej,Xhen (
"(iapproa, l.9a4lq4,o-,y
duty be lli3 consequences to me , wh
they mi-ht, snd, pffer, pyfkf nk te .
thftheftn:fn;pif g. Haejinlf
J AwpviLat ,hqp?Hly beMwa
to be that duty oof this (treat subjvcftvt
!knp,wledgedioiefd9Hhrfoliotifaft
divided btlt whalever nay be ta Jatl
. 44 0
7 : ;:
    

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