North Carolina Newspapers

DEMOCRAT, . jd j , El r0L. 1. L1NCOLNTON, N. 0., "Fill DAY, OCTOBER 18, 1895. NO 4. Li fl i GEN, ANDREW JACKSON WITH' Till; I 3 3V AM:4 OF Tiff I', f tm tky. 1 x( I .nit ! Stots; ItuiiU. dent, suggest to (Congress the ox pedioney of si removal of the public- W:v:v f.T.in tho H:lll- 0f lne ;b-rms: '4.S:fi-.',- i ! v. lthiti i hv rucii ' ! . . ... . ;! niM j roasury ha. been taken to w !ia!.l );i;n t,, judge- whether the :. 1 1n? lot owiiip i leiisMid ad are i he Secret ury I turn .,n..-:;.. ! " - s e :Ll:,: in u'h, ;t point I had expect ii . i ..." jt , i' i' !' lastweeK, hut the Nul- I-:; Attempt of South Oaro .. :-,t: -::'d, and required first iiiion ril'tor the Bank Veto. In ;? vfe. said of the Vet-. Mes 1 was' indebted to Charles Live: ij hint's Life of Edward Liv- : -f' ,i. as well as t.O Vuhlli flnnn- j- material, facts. . Mr. the history o4M !vl,,,5u deposits in that institution Mr. Polk wished to havit IIib re port referred lo 1 he committee of which he was chairman; and after a debate running through several das, and numerous votes, he suc ceeded in this purpose. The ad ministration in the House A committee was appointed to inves tigate on the affairs of the bank. now to Iarksons dealings witii l ,nav ui Aegarded s ut Lei y gate ; Mr. Frank Thomas, ot Maryland, ii, oi itic eelehrated jNew uui Iv. was an early friend j'Av.! Jaok?on. After sorv ;tm a t' rm in C mgrss asJth Rep v -'-.mat ive-.of his native State, he eaiiuJ-ated to Louisiana a e$y years '. i- purchase of the territory ;. i q ' u K ran ? 6 , gt ii d i t w a . t h e re "that '''Y.4';''. iv .(-tj General .Tackson,pend- u '-'i preparations- .lor. the battle in viirnston became an aide in M: camp ot the ireneral. Livmgs- i ;i was. a ureal Lawyer, a civilian, vi -n.ditit'd the Civil Law of u; ana iir a style to command ie amino anon oi -Jjaf avHt.tn mu i' for i In tr, as well as the Knr- ... . - li-jh speal;inLr world. He was ear iy iiivitnl mto Jackpon's Cabinet? afti-r tin? disruption caused by the Laten in.eiden.t. 1 was ;il;so indebted. tov general Scott's Antolint;iTt'tl)y, an iuter ostium work, not wit bout a touch .of the a.uthVr"s n'ver-niastering.;self-esteem, but abounding in-interesting personalities. The following involving an eminentNorth Oaro liD'ian, will be reati with interest. Scott readilaw in Petersburg, with David Robinson, Esq It W01 be seen, that like Caesar, he grops into the third person, in his nar rative. He relates, that 'Mr. Robinson in m-y time,, had but two. other students in his office Thomas Ruffin and John F. May. he first of these and theautobiog rapher did npt chance to meet from 1806 to 1853, a period of fofey : eey en years, when Mr.Tvuffi.Q,Cmef Justice of .North Carolina, came to New York as a lay member of the Protestant .Episcopal Convention. The greeting betwoen them was boyisely enthusiastic. The Chief Justice, "at J,lie table of the soldier, said : Friend Scott it is not a lit , tie 'remarkable, .that of the -three law students, in tho silme office, in lbQj, aud 'ISOO all yet' in good preservation. Our friend May has lobg be3n at the head of the bar in . Soiithern Virginia'; f long at the Jiead of the bench" in North .Caro . lina, and you, the yonngest, long at. the -head of the United States .Army,' The . last that I Saw of tins most excellent man, always highly, conservative, he was a member of the Peace Convention that met in Washington in the sMing of 1S61. Had his senti- v nts, the same as Crittenden's j vailed, We should "now-(July iv-'ti) have ni the thirty-lour States V' -ier by Several millions of wid " s, orohans, cripples, bankrupts nad deep mourners to sadden the I iiul J ml (to Mnv 'fortnnntelv for -i'lu, died before, the cpm'mence-i-" nt of this horrid .war.' m the annual message of-De-;uvber"4, 9ZLl; President Jackson i "blowing up his' veto message of ;i preceding Jiilv, recommended out as mm iiuutoil power may 1 was cnairman. He, with a major prove inadequate to this object 1 ity of tho committee, mado a re recommend the . subject to the at- porr, May 22nd, 1834 The Piesi tention of Congress, under the firm dent and directors of the hank re belief that it is worthy of their in- fused to submit their books to the vestigation. An inquiry into the inspection of the committee adopt transactions of the institut?on,em- ed a resolution calling upon tho bracing the branches, as well as speaker oi the House to issue a the principal bank, seems called warrant to the Sergeant-at-Arms for by the credit which is given to arrest Nicolas Biddle, President throughout the country to many aud Manuel Eyre, Lawrence Iiewis, serious charges impeaching its Ambrose White. Daniel W. Coxe, character, and which, if true, may John Holmes, Charles Chauncey, justly exoite the apprehension that John Goadard, John Noff, William it is no longer a safe depository of I Pratt, Matthew, Newkirfc, James the .money of the people." C. Fisher, John S. Henry and John In conformity to the first of Jergeant, Directors cf the Bank', these recommendations of the and bring them to the bar of the President. Mr. Polk, of Terinessee, I Hcuse, to answer for their con- trrvm the Committee of Ways and I tempt of its lawful aurhoJsty. Moans, reported a bill authorizing Edward Everett, ot Massachu the sale of the shares ow ned by the settee, and William W. Ellsworth, United states' in the United States Connecticut, made a minority Pank.-'No stock was to be sold for report. less than the market value, nor for I The resolution proposed by the the specie in the Hank mouutod to more than half -the circulation ; while in ;ho HieciM hfld wn less than one-third the amount ! bills in circntMtion. . It is to be considered, also, that in 1833, the sjH'Cied in the Bank have the ratio of nearly one-ninth of the .total liabilities; while in 1S19, the specie in tHe Bank was to the liabilities in tho ratio of less than one to twenty one. The minority report insisted that tho dobts due the Banks lrom lctr!iil nrguinf.it ngint f j rqirt that 'the great measure of bnnh' ; and it rain i :iily n- readjutiug the legal ratio between neil d w iih iliu lollowiug, which Igold and silver canuot be tafelv less than the par value. The Bank was authorized to purchase the stock, or one part ..of it, anything in the act to the contrary notwithstanding. majority of the committee for the arrest of the President and Direc tors of the hank was not adopted by the House. In place of.it, a resolution was proposed by!Mr- j i!u Ki-cn i iry urges, latpr on in this explanatory letter.- He goes on to av that in ISSV'The situation of tho mercantile claims also rendered tho usual aids of the hunic more than even necessary tosustain them in their huagness. The dmands of tho public upon those engaged in commerso were consequently tinususlly large, and they had a just claim to tho most liberal in- tho West were 6afe, and.alout aslduigence from the fiscal agent of reliable as tnosodue from the east em cilies. Ehe process of removing the ds THUK UILLH ur TICK OIVISl JUHY. The bill hiving been read, and Adams, that the proceeding pro- the question being on ordering it posed wauld be a violation of the to tlw second reading, Mr. Charles Costitution, but it was never Wickhffe of Kentucky, objected, called UP- (Uiich at this - stage is.equivaleht 1 he report made during the 22nd to a motion for objection) and the Congress by the majority andinin- question then being stated in the 0rity of a committee of investiga. form required by the rule, ''Shall tlou show the condition of the this bill be rejected?" Mr. Wick- bank 88 to ittJ solvency. The re liffe rose and made a strong speech Port of the ' mafority, with ?Mr against its passage. - The passage Polk at its head, states the case as wouM inflict great injury upon the 1 IolloW8: . unprotected stockholders It Tlle -liabilities of the bank in would reduce the twentv-five mil- 1833 were $37,807222, consisting lions of stock by ten per cent, of of circulation, amounting to $17, its value. ""The year previous it 459,671. Deposits, public and pn was twenty to twentv-five per cent vate $13,517,517; due to holders above par. in the' markets of the of funded debt, $6,723,703, and world. The ruinous Dolicv of the $76,529 of unclaimed dividends. administration referring to the The3e liabilities are cAT-set bv veto, had sunk the . value of the 8Pecie ia e vaults or the bank stock twenty ner cent: The Uni- amounting to $3,951,847 ; notes and ted States had sustained a loss of obligations of the State banks,held onemillion four hundred thousand bV the National Bank, amounting dollars. And whv was this? He to $3,837,907; funds in Europe saw no reason for it, except that j aud foreign bills of exchange, $3,- the President had recommended M-5; real estate worth 3,U30, it. Mr. Wickliffe. spoke earnestly 241 on notea discounted and de- and strongly, and . closed his brief mestlc Dlll8 amounting to bl,ty55 remarks by quoting a statement yid 5 mortgages, ore, uw,o5U. r. .... r . - In f v . t,.. ITntftl rfisonrcea. f 80.865 iurnisueu in ine(report oi tne oec rotary of the Treasury, showing that the govemmeut deposits in thirty-seven local banlcs and caused the less of Sl,390,707' to the Treas ury. ' 1 Mr. Polk briefly replied, ex- posites of tho public money from the Bank of the United States le- gan, September 20, lfls.3. On that day, Mr. Taney, the Secretary of the Treasury, addressed a note to James N. Barker. Esq., Collector at Philadelphia, informing him that the public interests required that the bank of (ho Knitl Slates and that ho had. determined to use the State banks as places of public deposit, and thftt h had eelwctod tor that purpose in .the city of Philadelphia, the Oirard Bank. The collector "was furnished with the draft of a contract t te en tered into witn the bank. In the mean time he was to continue 'de positing with the' bank of the United States'ttntil the 30th of the month,'four days longer, while the papers were being entered into with the Girard Bank. In a note of the same date,Sept. 20th, to Mr. Biddle, the President of the United Spates Bank, the Secretary directed him.t.gi deliver to the collector at Philadelphia,all bonds to the United StHtes.lmyable on or alter the first day of October next, .which might be in his po- session. nttempted until some permanent relations betweeu the market value of the two metals should be estab lished.' If it could not b safvly attempted when gold was at a dis count of 4 per cent., can it be. safely attempted when silver is at a discount of CO per cent? Mr. Hunter and the Democratic states men that supported him determin ed that it wan naf to permit tlm mam. i ney ueierrruneii mat tne proper ratio to establish and keq Viratunt ilrown and Nt The grand jury of Wake Super ior Court returned a trua bill against S. P. Sattrtlsld, priaci- m pal clerk of the lower hou4a cf tha last Legislature, and J. W. Brown, engrtMsing clerk, for fraud in con nection with the much talked cf alignment act, nay a Rasigli icial to the Charlotte Ohfterrar. the government, which had for so many yeans Ijhm reaping harvests of profits from tho deposits of the a common standard of Uith metals hliould 1 left for future jttle ment when conditions were more favorable, and they contented grand jurv, th Clerk Batchelor. Total resources, Deduct liabilities, $80,865,465 37,807,322 public monev But the bank about this lime changed its course and the Kccretary goes on to show that the bank had reduced its accom nidations, in the way of loaus and domestic bills, from, $64,100,349 1 1, which he had complaiued if as too large, to 1)0,09 4 ,202.93. It ii but fair to etatethat this reduction of business on the part of the banK, would sem to have leen tho natu ral cousequence of the threat that had been thrown out, to withdraw the deposit ot Use public money from it and place tbem under con trol of rival banks. (ieneral JacKson had no little difficulty in fueling a man who was really to obey his Cheats in the matter of removing th deposits. Public men were generally againat tisH policy. Mr. McLaue, who was appointed Secretary of the Treas ury in 1831 to succeed Mr, Ingham, was not willing to take th? job, and he was transferred to the Slate De partment. Gen. Cass, Secretary of War, was opibsed to removal. Mr. Van Bun u was opposed to it. The whole cabinet was opposed to it,i?d coiiveniiit,not for largu, but Tho resident atmointed William J for small transactions. 3lr. - - . - i . . Iinr Chitf of the Dspart inent of State; Statf Librarian Ellington and H. L. Smith, mem ber of the lower htMtw from Sfan 4v. Mi4 I)fit Itntr,rMt ..f XI.. ive, w tn tn aa er ,i,cy W?hf WM marl, a. a hn that ptvervI th standard of all lmt ,,;,,,,. -p M m Al- exiting contracts and provided !aIlU. There ate .v.n chants m for fractional silver currency to lU llldlcUnvuU Bgaiu-l gttUr- nnet the demand- of evenday field. Ont, charge, that h. wdful- commerce. When the bill passed lv. know iiwlv.oorruotl v f r.n.i. the Senate and went to the Houik I , '.x., ,ii.r. . . . tame nvr assigtitneiit act. the having Uen paed by either hous, it uas reported from the committee on wavs and means bv Mr. Dun- iiuiii, inuui.a.a ui.uuguisnea bul hschhad l-n tabled nrior DeiiHHrratic Heprvntatsve of the lu lhr wlH.n lU, doIivcrvd State. He was very explicit in Another count charge that SatUr- hi statement cf the objt-ught tiM iuUt,, th tru j,,. atid toltdjUined by Use bill. 'We m.ttllins? ,f hil alh .v delivering intend,' he aid, to do what the fuf ruroUlllrll all aclhicli bad ..Muu piuucai euouiy llcVer Un asl, and that that have approved; what .xpenei.ee, facl wft .i., lo Bfo1in where the exnment ha Leu The other counU et forth the of- irieu, nas uemonstrateu to ne oesr; frnnf jn dilTervIll formi and what the cuinuuttvu believe to bt iiecosary and projwr to make but one standard of curren cy and to make all others subr vsnt to it. We mean to . mako Similar agreemahta were entdrd thi Treasury,, and he refused. The committee, and a DmocraUo Bej intqhv the-Sefetaty, irrOHoleff whole cabineTwas'oprxaed to the r.ueuUtive. from New J,ryf in with'lhe Maine Bank, of Portland, removal 'except thTAttVn.ey-Gen- supporting the LUI, id: The i Balance in iavor of bank, $43,053,143 The majority report held that this state of things did not indi cate a sound condition of the bank. pressing surprise tfcat opposition Lhat tfae large amount of indebted -was made at that early stage of the . f th .Veat to the bank could bill. He characterized Mr. Wick lifiVs remarks as intended for "Buncombe," and his" reference to the' losses sustained by the local banks he said had nothing to do with the question. Mr. Ingersoll, of Connecticut, sustained the views of Mr. Wick hffe, ajnd after some further re marks by the latter gentlemanMr. Whittlesey, of Chio, demanded the previous question, jwjricn" was or- Depo8.t, publfo and dered;ana on tne main question i . piivate "fenaii tnis oin De rejectear it Du6 ia Ear0ps, was uocided by yeas 102, nays 91 So the bill was rejected. Total, Messrs. Barringer, 'Job Branch, TV resources weie- of State-Bank, not be regarded as liable, and the report placed in a parallel column the condition of the bank in 1319; when Mr. CheYes, the president of the institution, and Mr. Crawford, the Secretary of State, both re garded it in a very precarious con dition. In 1819 the liabilities of the bank were as follows : and the Franklin .Bank, of Cin cinnati Other local banks v?ero selected afterwards. vThe Secretary, Mr. Taney; in obedieuce to. tho law, addressed a letter to the Speaker of tho Houpe of Representatives, dated Decem ber 3rd, 1833, explaining his rea sons for the removal of the de posits from Uio Bank of the United States. The Whigs denied : his right to do this, which was all folly, and displayed their ignor ance of the wording of the charter. Express Dower" is given Uie Secre tary by the 16th section, to take the dopoiits from the bank, at his discretion, which he must after wards explain to Congress. Mr. Taney arraigns the bank on the cbargo of using its great re sources to influence the elections, which he infers from the creat in crease of discounts. lie says: ' About the first of Decemler, 1K12, it had been ascertained that the present Chief Magistrate was re elected, and that, his decision against the bank had thus been sanctioned bv th people. At that time the discounts of the bank amounted to 161,571,625.66. Al though the issue, which the bank took so much pains to frame had been tried, and the decision pro- Thd till against Brown has cvral counts, and finds that he corruptly, fraud ulently and knowingly enrolled Uit? bill, which had never ptsJed. Causes will ! UiUed for jcih gold the standard coiii and to maU Bruwn and Satteriield, ar.d t tkey iueu silver coins appsicauie i rrgUary ukrj nitdtt lt and brought here and rquirvJ to givv bond to Use sheriff lor thwir appearance at the January term of court. Failing to do this. thv w ill go to jail. vortms DAt.irfcATioif in sourti CinOLI If A. Duaue to succeed Mi. McLane inlSkelton, another uiemUr uf the era!, Taney; whereupon lie waaap-biU does not propo to change the pointed iu place of Duane, and be value of the gold currency. It removed the deposits, and was re- doe not propose to disturb the warded with the Chief Justiceship standard of value now existing at the death of Judge Marshall. throughout the country. Gold is Daniel It. (ioooioe, in News and th only standard of value by Woutdbe VvtterM Stximt clfiitM who ity t !,! a Il!-Yx. Observer. lCo(r 31111m ou In 1n3 a Democratic Congress," tiiuliug the country destitute of silver, thought we had coined up which all property is now mvasur- ei. it is virtually ine oniy cur- rency of the country.' The intro duction of the gold standard was done by a Democratic Congress under the administraUon of An drew Jaakjoa and was the reiult The qualificaUons for th suff rage in South Carolina, as agreed upon in the committee of the con stitutional convention, attains, it appears, nothing exertional. The wovldbe voter most U a tg- isterrd resident who has .paid h to that time more than fBo.OUO,-! . t . . poll-tax and can read and .writ. MW. e . .ii , i circulation. The standard was I . . . MM) if flint niutnl 1 1 m T k r m mi1 tr I Inr M a raiH.rtt rw m a k v f restore it to our circulation by WU:1 w mllc SU) worth of DTuDertT. TiU ri: - " Kress in 13o3aJ the Deit that could . : coining it as a subsidiary money, 8resa and over-valuing it enough to keep be attained under existing condit- ithat we can do now is to follow the example set for us bv the Democratic statesmen in 1558 and let the existing standard remain Notes iu circulation. $6,829,660 6,147,610 876,647 ii (1t i'or" i. il Lewis Williams voted with the ma- : 1 ' (United states) stocks now. - - , . . . iority. Messrs. .Bethune, Uonner by it in corperatiohswheUler ta'ated by the general" or State "yernmonts, and placing' the-pro- uls in the Treasury As a source profit, these stocks aire of-lit tie or no value ; as a means of intlu '"'e among the States; ' they axe Averse, to t)ie purityiOfiouj insjLj- Hall, Hawkins.McKay and Speight voted with the minority. Carson did not vote. The first session ot the 23rd Con gress met December 2nd, 1883. On the 10th Mr. McDuffie obtainecLtbe floor to move that the report of the Domestic bid!, Funded dfebt, ToUlr : Deducted liabilities Balance in avbr'of bunk,; January 1, lb9d, persolxi who can not read or write may te register ed and have the right to .Tote ii they can understand and explain a clause in the constitution, wbsa read to tkem. The main ft airs ment, it is sn, is such a degt of intelligence as enables .the citi ze4i to acquire the elements of an t i m. . - r i Cm TV aasvjv viiu auvi .xsm sav nuvi pre?eri iH.nl iv t n Secretary oi i .. .. .... leuucation or tne possession ox a t Iim I rwtwnrv 1 h riiiimidiarv Hll-l " i . u ri l urA metal and coin all that will float 513,853,948 $2,104,720 1,749,951 33,480,025 7,160,310 f 44 .404,906 853)48 '$36,640,98 all were taken to prepare for the ap pryachingend. On the coutrary, it proceeded to enlarge its dis counts, and on the 8th of August, 1833, they amounted to $64,160, 349,14, being au increase of more than two and a half millions in the eight months immediately follow- le coiiii in our circulation and to . . . . B. .i ... i.. i:i.,-rT,hnimeasurably worse since then, . i i in my judgment the best thing a irohl. thev tiok from nrivate de- pMitors the right of coinage, con lined it to the government account ami within nuch limits as should I. certain amount of property, the HPiitiiriit ifili and rHtiitiri t.t arhirh lot t.a r- nUl. rrol.4 ' I to I. It was over-valued about ol 1 I is assumed to imply a like amount pT cent., and yet. in the judg- The pleasant service of keeping I of intelligence. The literary .Tf- inent of the men of that Congress, up the Democratic hymn now de-1 quirement is not to be applied at that was a margin of profit enough I volves almost solely upon those I once, but the illiterate are to bsv paers and speakers .who have sat I given two years in which, to leam in their regular pews and tried inlto read and write. Payment of their humble way to keep the iter- I taxes is to t required of all would- vices going along decently and in I be voters. The list of voters i to order.. Thoee fellows who put sil-l be revisi every ten years. ver rings ou their lingers and bells I Mue-Touttu tojnke all the gold out of our cir- I, . . ... . .1 1 i. i ruiailoii. nai wousu iney im thought of a proposition to keep nounced against it. yet no steps j 1 Mt h gold and silver in circulation with unlimited coinage of silver at A) pT cent, discount? This was not a Republican, but a Demo cratic Congress. It was presided over by David R. Atchison, of Missouri, in the Senate, and Lynn Bovd, of Kentucky,' in tne H6ui. K. M. T. Hunter, a distinguished ing the decision against them. Aud Democratic statesman from ir so far from preparing to arrange ginia, was chairmpn of th'ecom- Re- are .... rA A. iv. 1:1 m.LIitAV;fhnrl fu U to C ' mom. . The wljole priucitfto oncrel"'. ArA Air ii n. ... -, . i- . -i 'i--! i rrrfoaa. nn tfift siiment ot in? romov :illuuliuu to. m r .. - u uieyare-vnaseci, is-aeemeci' . nz..- cj fiiZfXytAAiUir 1 u,y unuonstiiuanil,; a.Td to of the deposits.whictas on the m.the u of XSPgj wlat io tte policy wbiQb hey in clerk, table, be referred to a com- the Bank, mll33, m proportiop to lnittee oi tne wuoie nouse on me i circusuioxi.. ww r . same conditiona in 1819- In IbAJ, its aflfaira with a view to wind up its business, it 6eems from this course bj conduct to be the design of the' taiiK to put itself in such an attitude.tliat, at tne close of its charter, the country would be com pelled to submit to its renewaHor considered inexpedient." In the same:'' messa-gor the Pre3i-1 State of the Union. mittee on finance in 'the Senate, and George S. Houston, one of the greatest -talesmen Alabama ever produced, wai chairman" of tie committee on ways and meana in th House. In that Congress were Sam Houston, Rusk, Douglasg, ou their toes and hopped out on I publloaos Opposed to the floor and iumoed and shouted I rwo Colnajra, :t . i i i n .v.. - .i: a xi uu go, m we .ci6w Aut nine.Unlha of tbft in tK riartv and r& 1 1 fd to UlM I . . . - - r I rmmiraTia in rinn iri int people to repent are suddenly hnd- oppo 6 ff and UnlilailfKi fU.. ing, thrives too hoarse to help ver coiriage alsd do not proposa to the singing much Get down, dum u and u . fheljont-eatandmediuteonthel , . . . w ' golden texU while, the rest of Uing formcdf vf sipg.oiuie weiuav u.uu.. by CertAin Democratic And may your hoarsenes soon ?q I0,S B.J.-VMWuuWi,. T. . abiding faith in tb- ko bear all the "consequence of ajCaseHehdrickn, Bright, Shields, currency suddenly deranged, and also a severe pressure for the hA mense outatanding claims which would then be due to corporation." This seems to be a lather far Breckinridge and other distihg uished Democratic leidera. Air. Hunter, who introduced the bm ' Human life ishdd; . too ebesp) financial policy of the grrt :R- wben tbe Individual wbo' neds pplUcan Prty ajul yhy -tj rs mil tonic for nWVrteWwVtb w cover Bng to wait until the national Re-- hU wantf by pari nutDg'i very utw publican convention meets and nlixturpibat U staaand.a to formulates a policy that will givs hmJ 'ilimfiabIhat 'jet$ 8ar- relief' and restore prosperity to in the Senate and reported it from j pfTnu'fi'srwiOT the '-country .--Winston Republi- the" fmanco committee, said in his UoQ ol Arty Jttt i suaqio. , lean. . - .... g .. .