The people elected a general assembly to
carry out these promises; it is not to be
expected or assumed that the general
assembly will disappoint the people in
this respect.
Reporter Has North Carolina ever be
fore guaranteed the payment of the notes
of its state banks ?
Answer Not since the adoption of the
United States constitution. Rut other
states in the Union h.ivp. and tlio Su
preme Court of the United States has de-
1 J A 1 t J 1 1 1.1
ciuea tnai xney naa tne power to do it.
I doubt if a private state bank note,
without the guarantee of the state, and
without good security pledged for its re
demption, would circulate freely or
answer the purpose of a good currency.
Everv element of spcurirv to h note
holder should be given to make such
bank notes a success as a circulating me
dium and measure of value; and I think
it indispensable that the state should
guarantee the payment of these bank
notrs on demand as the lawful money of
the United States to make such issues of
any practical benefit to the people of the
state.
North Carolina Coal.
