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N w sFrtrr. No. I- VOL IV.] BAfTLTIORE, PEll. 27, 1819. [No. I-V ol XA-I WROLE No. 391
THE PAST-THE P. PI(SLSS'NT-1O TIHE FCTURC.
PRINTED AND Pli5LIBtSRE Y H-. NILE5, AT $5 tilt A51V525, P.T&ISLE IN ADVANCE,
,-is .., h'2,= C,,,, L,:..1 (I1== d,.-Cuiu ,, .,,
t, ,,,,. .,, 1, d ,, ... h ,. i ,l,,f: ul L '.,.: I ,,, .l
W ashington, except a seri ..I I : i '. 1.,;.. 1 r i..,
inuch inunediate interest, I.., ii -.ll11, 1..:!i, i' ,
to a full 1I.:'1:: 1 l.1 : 4 i r. .1 i -.'i '1.. the pur-
pose of'i r i..:-r rl :... I .,. .. .. J.,i. ll i :. l. a lapse
of eight i' i. i -r '. n t.-r i ..ur next,
and issuei ... .'1 I I -. ., soon as
we can i 'i ,' it, "'. -0 .'., rt i .'mi. *ir three
weeks-being at present engaged in getting out tlhe
large supplement for the volume just finished, &c.
We congratulate ourselves on the conclusion ofthe
documents, for we now shall have room to notice
;:, -.. *, .. I ,i .. : ,i, i we have been ,_ .'- i. ii 1
... ... ,e list of ''
a mes '. i -- -. extracts fro-, ,i .,i I
:~ i';.... ..id we should have been pleased wiilh
i I.. r .! '.: i...i before any decision took place in
congress about the bank. We learn that about forty
members are stockholders-some ofthem heavily so:
-.be hope that none of them voted in the/i owvn case.
The great danger of incot'porations is-that the
chief members of them are our governors, judges
and legislators; and thus their individual interests
may be placed between the people and the justice
that they claim.
TERMS OF THE REGISTER.
The subscription is five dollars per annum, paya-
ble in advance. The volumes begin in March and
September every year, for each of which a proper
title page and copious index is published.
The Rlegister commenced in Sept. 1811, and com-
plete sets maybe had as fol!ows--
For eight years subscription to Sept. 1819, 40
extra supplements to vols. 5,7, 8, 9 & 15, 5
General index, 3
If desired bound, add for thle 15 vols. now
published, and the General Index-16
vols. at 874 cents per vol. 14
Tle work will be sent in sheets, by the mail to
any part of the United States, (at the cost of tlhe
purchaser) and its delivery gnuarantecd by the edi-
tor-or, either bound or in sheets, to any of tlhe
principal sea ports, at the cost of the editor, but at
the risk of the purchaser. All sets disposed of are
considered as sold for cash.
The editor invites his friends to use their influ-
ence for the further extension of the circulation of
the REess'Trs, believing that three objects of some
interest may be affected by it: 1st, a diffusion of
'the facts tlat belong to the proceedings of our own
and 1,i .... i i..-. among the people, on which
they '.. it ..... ..nclhde for themselves; 2d,
in enabling the editor to make his work more and
'more valuable, by an increased ability to give a
Tr.:. ,. quantity of matter for 'tie sum received;
:ad i --which comes home to him, that his profits
.,- after all, this is the main-spring
II1 -: 11 iI,, of us to exert ourselves, andl
is the best t.,_I.[; f .* .. .I.: ,,, .
,i,,, l .. r. t._ i :.. ,1 n !. -.; a1n rf
TER is ordered-Baltimore money, however, is most
acceptable from any place, as answering our par-
poses the best.
THi n XNK QunsTIO It is ascertained by the
vote on Thursday last-sec "congress," that the
house of representatives will neither agree to repeal
the charter of the bank of the United States, nor
order a scire facias. These results were expected,
and are, in par',, in conformity with t'Lu wishes on
th e ., j -." .. i n ot .. 1. 1 ;.:.... ; l .r
, .,. a ,e d a ,.
1 ... l,, can be done, to effect the former, is
.., 1. it is probable that noact will be passed
at present, except the bill to regulate voting, &c.
It is stated that upwards of 100 shares of stock
were really sold inl Ualtimore, at $115, "for money,"
a few days ago; but since then, we believe, other
sales have been made at 107 or 108,-which pro-
bably, is theJladl worth of the stock, under the most
favorable circumstances that can'be anticipated, to
persons desiring to possess it as an investment of
capital; but the spirit of spneuplation in which the
institution has been so much managed from the be-
ginning, may keep its price ;1. 1'..-. until the
stock passes into the hands of those who intend to
hold it, tor the sake of its interest or dividends.
We learn from Charleston, that Mr. Cheves has
been invited to Philadelphia, to assume the duties
of the president of this bank; and it is understood
that his arrival in that city may be speedily expected.
The bank iri... .. from 5 to 10 per cent. eve.
ry sixty days, on the notes discounted on stock; and
we see thatthe office at A\ I .... T... ... is demand-
ing 25 per cent. every 60 days, on the discounts
made there upon the stock ofithe district banks.
hlis severe pressure upon the latter class of bor-
roCwers, seems to have occasioned some agitation ill
the district, and we observe that a meeting of tle
cashiers of the district banks is invited.
The case of.lfcC/llohversusthestate of.lf.; -,'.i
-that is, on the right of a state, to tax the bank
ofthe United States, has been in i,. ,,,T|,:, before
the supreme court since Mondav last. Messrs.
Pinkney, Webster and Wirt (the latter as the attor-
S,I 1 .- ,.: .._ ,, ,,. ... ..O I,
5, t I ,,,,n ., 1 l ,,,I ,\l i t ,
Hopkinson and Jones against it. The discussion has
been very able and eloquent-itinvolves some of the
most important principles of constitutional law, and
the decision is anxiously expected. Valrh -wiil. d.-
pend opon it,
Supreme Court of the United States.
On 'Wednesday, the 17th inst. Mr. chief justice
Marshall delivered the opinion of the court in the
case of Sturges against Crowninshield.
1st. That, since the adoption of tile constitution'
of the United States, a state has ,i. r, to pass
a bankrupit law, provided such law does not impair
he ..1.1; .-,;.d.., of contracts, within the meaning of
2 NILES' REGISTER -FEBRUARY 27, 1819--PROGRESS OF THE NAVY.
S2cly. That the act of New York, (that of 1811) the loss of time and money attending upon a suit
which was pleaded in this cause, so far as it purports instituted on these principles, he would try the force
to discharge the contractor which this suit was in- of them against some of our swindling, bankrupt
stitited,is a law impairing the obligation of contracts, and bankrupt-making banks. The stockholders -imn.t
within the meaning of tie constitution of the Uni- be liable as individuals; and, when this is establish-
ted Staes. ed, there will be an end of rag-money-making.
The effect of which we understand to be, to in-
validate such parts of the state law as discharge the'
insolvent as to his subsequent acquisitions of pro-' Progress of te l the U. States.
perty, whilst it confirms them so far as they dis- .\n,.Uther ship oF the I.n.-pirobably as fine a ves-
charge the person of the debtor only from arrest sel ,.n r wa.s bludt, .nrl %,i ht: pi rliaps, will be as
and imprisonment. [JVa. In. pri', l, .il too a almrrt jniy that ever floated, though
-- !hI: iuji. rncl t:.rc.- in g.ns will be less than that of
(ffThis opinion has given much alarm to many many to be found upon the navy lists of Europe, is
persons-it is highly interesting to every one, and, to b ie 1l.i-ched at Washington city this day, or on
we shall publish it at length as soon as we receive MoJd next, as the state cf the weather may per-
it: it appears that all the judges concurred in it. mir. This sesiel, .ve are informed, has been built
It will probably, make some great revolutions in under the special direction of commodore Rodgers,
property, andraise up many from penury whose and th;s i- sufi':unt to inspire an universal confi-
"eyes have been blinded by the dust of the coach dence in her character and capacity, for he is netori.
wheels of those that ruined them;" and cause ously one of the most practically skilful seaman in
others to descend to the condition that becomes; the world. Her name, we learn, is the "Columbia,"
honest men, by compelling a paymentof their debts in honor of the district in which she was built. The
-as every man ought to be' compelled to do, if, name is a very good one, but not exactly such as we
ever able, unless his creditors by a bankrupt law, could have wished. had it been left to us we should
or an operation of the principles of such a law, have have called her the "SAATOGA," having already an
coerced him to give up his means, and start in bu- Independence, a Washington, and a Pranklin, ships of
siness de novo. It oughtnotto be at any one's dis- theline. Thereis moreinthenamesof public vessels
creation to say when, or under what convenient cir- than many persons at the first view of the subject.
cumstances, he will wipe oj'his debts, by the bene- may suppose: though a name cannot add any thing
fit of an insolvent law-as some do every two or to the force or success of a vessel, still it may have
three years; or, just as often as they can get credit much influence upon public opinion, and consider-
enough to make any thing by it. ably tend to a national character. Thus, were she
The decision powerfully shews the necessity of a called the "Saratoga," a child would ask his father
general bankrupt law, and, if it had taken place at the meaning of the name-and what a happy oppor-
an earlier period of the session of congress, might ttunity would present itself to give an account of the
have led to the passage ofa bill on the subject-for ;first time in which the standard of a whole British
it is exceedingly important whilst the present sys- army sunk beneath the newly raised ,striped bunt-
tern of credits exists, that either party to it may ing," with sketches of.the characters ofthe men who
know what may be depended on. The debtor acted on that great occasion! Andthen, we might
should be protected so far as to let him have a have our -'Yorktown," and, by the very name, give
chance of retrieving his fortunes; but we much the idea that there it was that Washington may be
question the policy of discharging him from a fu- said to have terminated the war for independence.
ture liability to pay his debts, unless ii be by some But, with the name of Columbia, as applied to the
act of his creditors. Many honest, prudent and tefn miles square, no such recollections can be excited,
worthy men have failed, and with a serious deter- and the mind, at once satisfied, becomes indifferent
mination to pay their debts thereafter, if legally to it. Under the influence of such considerations,
released from the obligation to do so-but, alas! poor might it not be worthy of the congress of the United
human nature, though we arenot without examples States, when voting money for the building of ves-
of the kind, they are so rare as to be considered ex- sels, also to designate their names?
I:,.od,~iri,.l'' I he temptation is too great; even The jealousy, if not fear, with which the build.
tll.: \ -.il- l- .i._.l cannot resist it: to part with 10, ing of a few ships in America is viewed in England
15 or 20,000 dollars that a man has earned, and --with her."thousand ships of war," and her boast
which he m7ay keep-why, it is hardly to be expect- that "no sail was spread without her permission,"
ed, "as the world goes!" whilst it almost provokes laughter, also gratifies our
The decision will afford a golden harvest to law- pride. We believe it to be adjust and laudable
years and sheriffs--we have heard 'that one gentle- pride; because; although in the course of events, it
man has ordered writs for the recovery of eighty may be accepted as a moral certainty that the re-
thousand dollars, due to him by persons that failed, public will acquire a power to maintain her preten-
but who are now able to pay. .sions to "free trade and sailors' rights"-yet, also,
r'Regarding this decision in extenso, we have no. that, invested with such power, she will not become
manner of doubt but that any and every person, an aggressor. Thus far, we have kept ourselves
being a stockholder of a bank, incorporated by the aloof from th.: squabbles of Europe-it is a fixed
authority of a state, may be. made liable for any principle with us to offer "honest friendship to all
debts contracted by said bank, during the period nations, but to form entangling alliances with none;"
of his co-partnership in the institution, as shall ap- and, though some persons may have a greater or
pear upon the face of its bills, as to the time at lesser degree of attachment or antipathy to one na-
which they were issued, &c. The editor is not a tion than another, the good sense of the commu-
lawyer-but this seems to be a natural and rightful nity will refuse to act upon either, and restrain the
construction of the facts of the case-and, as to the government also, from being influenced by impro-
propriety of the thing itself, he never has hesitated per feelings. Happily for us, being constitution-
a moment. Each partner should be bound to the ally opposed to F..; -' .f and priestcraft, we care
extent of his fortune, for the debts of the association not a straw whether a descendant of the "illustrious
to which he belongs, If the editor were able to bear house of Stuart" snatches the legitimate sceptre from
NILES' REGISTER-FEBRUARY 277, 1819-CESSION OF THE FLORIDAS. s
the "illustrious line of Brunswick," or another Na- Cession of the Floridas.
poleon wrests it from the contemptible Bourbons of
France or Spain. Tom, Dick or Harry are allthe Something, at last, has resulted from our long
same to us-it is their conduct alone that concerns negotiations with Spain-in which, by the bye, we
us. Nor do we regard of what sect the govwemertnt apprehend that gen. Jackson has acted as a powerful
priests are-we know that any system upon which mediator;-- THE FLORIDAS ARE CEDE n We shall
they can be established, must needs be corrupt, and hear great grumblings about this on the other side
a mockery of true religion; and have less respect of the Atlantic, and hope that matters are so fixed
for the pope himself, or the archbishop of Canter- that we may get p)ssession before the intrigues of
bury, than for the simple village teacher of righte- jealous foreigners can interfere to prevent the rati-
ousness. May these feelings endure as long as the ficaton of a bargain which they have not any right
Mississippi rolls a drop of water to the occan!-and to meddle with. The fict has long' bhten evident,
make us a peculiar people, zealous only of good' that a sovereignty over these countries was needful
oreks. They will forever present a barrier which to our peace and quietness, and that we would pos-
the deleterious influence of foreigners cannot pass. sess them by fair or foul means-by treaty or by
In looking forward to events, it may be reasonably force. We have preferred the former, and Spaii
anticipated that the future wars of our country will has happily agreed to do that which her own interest
be chiefly carriedon on the ocean. The rapidly ac- prompted-for the Floridas, though so valuable to
cumulating force of our population tn the Canadian us, have always been a real incumbrance on her.
frontier soon will, of it own weight and a due portion The following exposition of the tre.it, &c. is co,
ofdiscipline, defend us on that side-the Floridas pied from the .X .\ .., .rcncer of Thursday last.
are ceded, they will also soon become reasonably po- Some di iculty may arise with a ew, as to the fix-
pulous, and their present ferocious inhabitants must ture of our western limits-but a little reflection,
feel the necessity of becoming our friends instead we hope, will reconcile most persons to the propos-
of being led into enmity g-ainst us. On the side of ed bouodaries--~or many years must roll on before
,l.=ico, &c. we have nothing to apprehetd-but, either security for our citizens or the wants of our
to prevent predatory excursions on our coasts, sud- population, can require an extent of territory be-
den assailments of our towns, and the conseqent yond the Sabine, though that territory is very valua-
harrassing of the militia, at a vast sacrifice of life and ble. By the time that either of those thing occur,
treasure,-we must have force enough afloat to con- we can probably get it, on fair terms--if we desire
fine the operations of an enemy to a few points, if it. Our country is large enough at present!
not to defeat and capture him. It will not, perhaps, "It is seldom that we have had so acceptable an
again soon occur that an American woman shall be- office to perform, as that of announcing to our rea-
hold ,the smoke of an enemy's camp." ders the unanimous ratification, by the senate, of a
As to the building of ships, we are quietly march. TuErTY or ArITY, SETTI.IENT, AXNI LIMTTS, BE'TWEr
ing to the state of preparation-for wars must come THE UNITED STATES AND SPAIN, as recently conclud-
whilst kings rule: but ships without men will noL do edat this place, by Mr. secretary .ddams and don
much for us, and the statesman will see the necessi- Luis de Onis.
ty of carefully fostering the, foreign and coasting As the treaty, though ratified on our part, will not
trade of our country, and ofprotecting our fisheries, be promulgated officially until it has also been rati-
as nurseries of the means of defending us best. The fled by the sovereign of Spain, we shall state the
progress of these is strictly compatible with the en- principal provisions, as distinctly as we have been
couragement of domestic manufactures and home in- able to ascertain them, ofthis important instrument.
drsstry-it is the latter that must furnish the means By this treaty,, we understand that Florida, in-
of supporting our commerce in peace and navy in eluding all the claims of Spain to territory east of
tar., the M.sssisippi, is cededin fill sovereignty to the
We shall conclude these hasty remarks, with the United States.
following extract from the London Morning Chroni- That the western boundary. between the territo-
cle, of the 2nd of October last- ry of the United States and that of Spain, is adjust-
ed as follows: Beginning with the mouthofthe Sa-
"We see a navy growing to such a magnitude on bine river, and running with the west bank thereof
the other side of the Atlantic, that those who have to the north west linit of the state cf Louisiana;
our maritime superiority at heart have the best thence by a direct line north to the Red river;
founded cause of apprehension. What are the fimds thence along the south bank of that r'ver to the one
devoted to the increase of this navy which so justly hundredth degree of longitude; thence on that meri-
alarms us? We are so accustomed to the expendi- dian to the Arkansaw, and thence along the Arkan-
fure of great sums for little objects, that we can ill saw to its source, in the forty second degree of
form an idea of what great objects can be perform- north latitude, and thence upon that parallel to the
ed by the expenditure of small sums by a really Pacific.
economical government. The expense of the estab. A sum, not exceeding fve millions of dollars.is to
lishment at Windsor exceeds the annual allocation be paid by the United States, out of the proceeds of
for the rapid increase of the navy of America. It the s:als oflandsin Florida, orin stock or money as
exceeds, too, the whole of the civil expenditure of the ci ngress may p: describe, to our own citizenil, on
a government which causes itselfto be respected in accountof spoliations and other injuries received by
e-very quarter of the workl--a government which them from the government of Spain, or from the go-
hIas never found any difficulty in obtaining men of vernments of the colonies of Spain.
abilities in every department. The lay lords of the To liquiidate the claims, a board is to be consti.
admiralty. whom we are taught by ministers to look tuted by the government of the United States, of
up to as the nation's hope, cost more than the whole American citizens, to consist of three commission-
of the United States' cabinet, with the,president ers, who are to make their report within three
into the bargain. Yet the United States are better years.
able to pay their public servants than we are. Let There is a mutual renunciation, on the part of the
u s not be above taking a lesson from them, for, in two governments, of further claims on each other
truth, they can already give us not a few." for spoliations, &c-
4 NILES' REGISTER-FEBRUARY 27, 1819--FOREIGN ARTICLES.
Spanish citizens are to enjoy, on the principle of guard would possess a co'nplete power over the
the Louisianatreat),thesaiieprivilegesas American mail carrier, and tie mail; and, if unfaithful might
citizens in the ports of St. Augustine and Pensaco- I effect themost extensive depredations on its con-
la, for the term of twelve years. tents; andin proportion to tie numbers employed,
These are the essential provisions of the treaty, would be the hazard of their ulnfaithful conspiration
which is to take effect on the exchange of the ratifi- :against the safety of the mails. If the system of
cati,.ns, within six months of the present date. employing armed guards be once adopted, it could
It is probable that Mr. For5rYT!, our newly ap- never with safety be abandoned; such abandonment
pointed- minister to Spain, will be the bearer of this would operate as an inducement to attempt, so far as
tr at, and that the ratifications will be exchanged the opinion of the efficacy of guards might prevail,
loi; bbfoe tile commencement of the next session with those who might be dispose, to seize the mails,
of :ngres:s in contemplation of which event, it is If one portion of roads only should be guarded,
probable that congress will' before they adjourn, it would seem that, while such were protected, the
pass an act authorizing the executive to receive the guardless portions were devoted to the chance of
surrender of the provinces of Florida from the Spa- elnterprize.
nish authorities, and to establish an independent go- It is obvious, that if there should he a guard of
vernment therein. two, it would require four; as two must sleep at
We felicitate the country on this amicable and sa- quarters while the others were on duty; and a guard of
tisfactory termination of the tedious, and hitherto two might be surprised and overcome by three,
unpl'casaint l" "''n; 'liio'' with Spain. The attain- which would be numerically a fourth less than the
incnt of. .' i I' '- lree objects, the cession of whole guard actually employed. In fine it may be
Florida, the settlement of the western boundary, or asked, who is to guard the guards?
the recot,;ition and provision for the adjustment of The cessasion o( wars in Europe, and other caus-
th lain~of our citizens on Sp .in, would have been es, have produced a migration .to our,shores of num-
considered as an epoch in the history of our foreign bers of desperate characters, ::nd others necessitous
relations. The union of the tllr wifl make thistrea- and urged by poverty: which, added to profligates
tv trebly acceptable to the Aml.:lican people., of ourown ination,aredispersed in the comminunity;and
It terminates the only exie !Ig controversy with being indisposed to self -support by honest nieans;
any otf the European powers. It rounds off oure with a dexterous audacity depredate on the proper-
southern possessions, and for er precludes i'.... ; .- ty of others, public and private. There have been
cmissaris from stirring up Indians to war and ne- (since the establishment of the post office depart-
groes to rebellion, whUst it gives to the Southern nient) not more than three lilcbrerit occasions when
country important outlets to the sea. It adjusts guards have been employed fora short time; during
lte vast western boundary, .. I;i, i .. I : Uni- which the expenses have been very great. Almost
ted States to be sovereign, under the hitherto con- every citizen has an interest in the safe transporta-
tested Louisiana treaty, over all the territory we ever tion of the public mails; is indignant at its robbery;
.seriously contended for. In a word, it is a treaty and much more so when committed by violence.-
. than which the most sanguine have not anticipated Hence, the efforts always made by the citizens to
,ne much more favorable; it is one that fully comes' -ic-ppl-reihend such is rob the mails; to which they are
-up to the expectations of the great body of tle A- also stimulateCd by sailable rewards.
merican people." Since I have been at the head ot'lhis department,
not one instance ofa violent rolbb ,ry of the mail has
occurred, where the perpetrators have escaped ap-
Mlai.l Guards. prehension, conviction and punishment.
Ar oCFFICIA .I.rl.KT'm It may notbe desirable in this nation to see the
Gen,''ralposqt Qljce, Fe;b. 10. employment of an trrmed phicdical force to protect
STP' -I hIad the honor to receive yours enclosing the operations of civil government, to the distrust of
a resolution of tie senate, instructing thle committee .the civic vir' 111s and niori cultergies of the people un-
on post offices and post yoadis "to enquire into the less in cascs ofremergency, and unless the efforts of
expediency of authorisin g tlhe postmaster general to those virtues and energies should fail of their proper
employ an armed guard for the protection of the consequences, and demilostrate that a reliance on
nails of the United States, on such mail routes as lie then would be fruitless and deceptive,
may deem necessary." Respectfully, your obedient sei rant,
1 have in reply, to state the following facts and R. J. MEIGS, Jr.
considerations, which naturialy prUduce two sepat- The Chairmnan oftle Commiittee
rate views of tile subject; one, of augmllenation of on Post QOives andl Post I./oadL.
expense; and the other, an uince'rlainty of securing' ..
the mails by the employment ofaaried guards. 'l-he .
resolution proposes to leave it discretionary wi'h FPm6ei":n A articles.
the post mstter g general oni what mail routes to eim- i Si..- .
iloy such guards. The dukte of \, 1._i;;- .*. and lord Cas!lereagh
It may not be easy to decide at what point to com- andt his lady, returned to England on the 19th ofDIe-
smence or to terminate the employment of guards; cembr.
nid it will be impossible for the pecuniary receipts P.Axer.
Ot;the departnent to defray the expenses of any In Paris, thel loaf of 41bs. of the first quality, is
conslde'table portion of the stage-irouites alone, on now selling for 7d. and that of tie second quality
wvhiicl stages run more ihal:n 0,iG0 itiles per day; for 5d.
even th.e stage hfae of the guars iwuld ie very e.':- s.MNx.
tensiv.e. The qualliications of such guards should Ertractso fi'c.m Fr-:icnch papers.
he il,-iitv", vigli:'nce, and cou!ita'e,. fr tihe use ofi T It a letter firom Ceita, it .ippcea's that two Spa-
v"hicLthel- :lavea lwa:s tdemt!lided nd received higih niat'ds ihad been e::xecuted at that place, who were
ei'n"pensation. .itakenr i" aprivai! cr, said to be fitted ot in America.
(hi the complete exercise "'. those qualifications '!Twon Americans were taken at the same time, who
would depend the whoic security of the mail, as tile were notbrotight to trial.
NILES' REGISTER-FEBRUARY 27. 18i 9-CONGRESS. 5
Letters from Madrid state that large bodies of fer no petition in their behalf, but that they should
banditti, who are assembled in the mountains, make be put away.
descents upon the towns and villages and lay them oGERM AT.
under contribution. The .lgemeine Zeiting states that Abraham Tif-
Inquisition.-The following document we copy fenheimen, the Jew banker, who lately failed at
from a Paris paper of Dec. 16. The editor introduces Vienna, had lent several million francs to the crown
it with a column of remarks, closing with the fol- of Spain, and that his loss frcm the extraordinary
lowing sentence:-- lt is a melancholy thing, while fall of Spanish paper was immense. This fail-re
every other government in Europe is setting its was immediately felt on the change at Vienna.
people an example of enlightened liberality, to see IIumburg, Dec. 9.-The young men destined for
th. jurisprudence of Spain relapsingi!lto worse than South America, who were recently arrested here at
primeval barbarism-to behold a fine people, yield- the request of the Spanish minister, were afterwards
ing to none in qualiides, both personal and mental, set at liberty. They tlhei assembled to the number
crushed both in mind and body, beneath the racks, of 800 and proceeded to the Danish territory, where
and wheels, and scouirges of a grand Inquisitor!- they effected their embarkation wilthut experienc-
Alas! poor human nature!" ing the slightest obstacle.
Thi following decree has been issued under the TUILKE .
..,, ..f the grand Inquisitor, who is also private The accounts from Constantinople state, thatjthe
.'..,_ ......: .- Ferdinand Vil: greatest activity prevailed in the naval arsenal there;
.aiOnA. it'E:i. a ship of 80 guns and another of 74 guns, were
"In li'ioie u fn te ote /l/ i" etc. launched in me course of November last.
"WheIreas it lhas been madle known to us that va- B a letter from Cairo, dated the 16th of October,
riousl publicat'ins of a heretical, i:"cligio:s, and se- published at Florenc by Osman Aga, a general in
ditious tendency are in circulation ........ i ir.. ,.l.. the service of tile viceroy of Egpyt, it appears that
jectsi of this kingdom; and wherca.- .. .. I1- th the Wachabites, had been again totally defeated,
importance that theil progress should be arreste:'I, nmd their caliph or prince Abdalla, with all Ihs fa-
andl tie authors, publishers and circulators duly mily, had been taken prisoners by Ibrahim Pacha,
punished, it has been determined that such mea- the son of the viceroy.
sures shall be taken instantly as will most effectual- CA.a nA.
ly accomplish this purpose. Population of Quebec.-lBy a late census, it ap-
"All persons having in their possession works pears that the city of Qucbec contains 15,257 inha-
I ..,.. -i. i..ilowingti.l( .11 ll 1 .. I.i.. I, I. : l ore bitants. Of whom, 11,991 are catholics, and 3246
l .. i. .'I. :. and s.ic! ......... . .. ...,-.the protestants.
case shall seem to require. provided it be not less
than solitary imprisonment under the authority of C lN ir S .
the holy office for three months, and the payment In deferring the regular journal of the pro-
of a fine of not less than 25 doubloons. The works ccedings of congress for several weeks past, to make
prohibited are, ,the history of th e inquisition.'- room for the documents accoilpanying the report
'te:sons why the Inquisition should be abolished.' of the committee about the bank, itis by no means
-'A few remarks upon the re-establishment of the our intention to monopolize the weekly portion of
brotherhood of lie order of Jesus.'-'The theory new matter which our subscribers are entitled to, re.
of the Cores.'-'Tlle necessity of national represen- ceive; but to bring up the deferred journal in a
tation.'-'Observations on the conduct of several of gratuitous supplement which shall be published'next
the courts of Europe.'-P'atriotic songs.'-"The week, for the sake of rei'erence lo the ficts it cori-
difficulties at present to be encountered." tains. In the interim, however, we notice as usual,
The greater number ofthese heretical and sedi- the 1 l.,n that occurred during the week.
tipus productions have beenprinted in foreigncoun- The report of a joint commilttc, on the business
tries, in the Spanish language, and secretly intro- that it will be necessary to do in the present sessi-
duiced into this kingdom. on, has been presented-the detail is before us; it
A proportionate punishment will be inflicted is very formidable for its lengdh-v-et. i..i ;.1,.. may
upon such individuals as have in their custody any be nearly got :... ., ', with, if the Tr .i, i, I treaty
foreign journals, newspapers, &c. containing mat- does not provoke a debate in the house, as much of
ter against the government and Institutions of it las bec.n'partially acted upon.
l'""n The debate about the bank of the Unnit"d States.
I.. II from M:idrid, this 19th November, 1818. on the resolution offered by Mr. ,olhison, of Va. to
(Signed repeal the charter, was continued oni Saturday. Mr.
Franicisco Xavier ,Jeir' Y Campillo, oi londes delivered a long speech against the re-
Grand Inquisitor of the Kinigdom. solution, &c, generally in support of the bank.
Aniildrl Flore: Pernira, secretary. Mr. T/dcr spoke in favor of the resolution. Mr.
i i.:L is the fate of Spain, for suffering her sons iM'Lamn followed on the opposite side, and Mr. Ser.-
to be made fighti;in-machines of by England-this geant addressed the committee on the same -side
the rewardfor the torrents of blood they shed under -the debate was resumed on subsequent days--
an idea that they were suffering for their country- Messrs. Pinldall and Boabour in favor of a repeal
her "patriots," who bore tie burthen and heat of of the charter, a' d Mr. Storrs against it.
the day, were not only abandoned by their "magna- The following proceedings took place on TWed-
nimouls allies," but given up to tile dungeon and to nesday, the 24th inst.
death, by the miserable thing in whose behalf they The house having againresolved itselfinto a coin-
contended-and all this "in the naome of te oly Tri- mittee of the whole, on the subject of the bank of
.' Oh! fourand rank blasphemv-villainous asso- the United States-
clation of heavenly attributes for demoniac pur- Mr. Spencer rose and spoke more than four hours
.poses! But we trust in God, that the time will come in drefence of the report of the bank conlmittee.
when the ungrateful Ferdinand and his infamous Mh'. Walker, of 'enticky, made a short speech in'
priests, will isufi 'r on the racks and wheels which sup-,ort of the motion to repeal the charter of thil
have p'rovidd for others. Humanity can pre- bank..
6 NILES' RE SISTER -FEBRUARY 27, 1819--G. WILLIAMS' MEMORIAL.
The question was then taken on the resolution, Seminole war, not yet ended. The committee ofthe
offered by Mr. Johnson, of Virginia, as follow's: senate, to whom was referred so much of themes-
,Resolved, That the committee on the judiciary sage of the president as relates to the Seminole war,
be instructed to report a bill to repeal the act, enti- have made a report in decided reprehension ofthe
tied ,an act to incorporate the subscribers to the acts of the commanding general.
bank of the United States," passed April 10th, Nothing else of immediate importance, has been
1816." transacted in congress since our last.
And decided in the negative-ayes 23.
The question was next put on the resolution of- CHRONICLE
fered by Mr. Trimble,to issue a scire facias, and also GeneralJackson. We shall record a particular ac-
decided in the negative-ayes 28.
decd nth n eg. a nadh count of the honors showered upon this illustrious
The resolutions offered by Mr. Spencer, and also cout of te onors showered upon ts illustrious
erred to this committee, were withdrawn by him; chief in his late tour-their history belongs to the na-
and tion;. The general has been every where received
The committee took up the hill reported by the with the highest respect that could be paid to him;
batk committee, to enforce the act of incorporation, and at New York, especially so. He is expected in
by paroibiaing the pretended distribution of shares Baltimore this day, and the two brigades are very
f'byp o"br tse of undue influence in e election handsomely ordered to be in readiness to receive
fe, "ie D,.,r .ose of undue influence in the election him.
of directors. bi d-The 22ninst. washonor
Mr. Spence;r proposed various amendmcnts,intend- ad birth day-The 22nd inst. was honor-
ed to reader the provisions of the bill more eff-ec- e in all our principal cities by military parades, sa-
tal all of which were agreed to. ltes of artillery, displayof the national flag; and by
tual; all ofewhich wragrc eed to balls, parties and suppers, o&d.
IMr. B3as.ez' iioved then two amendments, the ballsparties and suppers, &c.
first, substantially, to compel the bank to redeem Jfaryland. The legislature adjourned on Sa-
ailits notes wilh specie, at whatever branch they turday last, after passing about twso hundred laws.
might be presented for payment. The object of The pirates. Williams, Rog, Peterson and Fre-
he secon amendment was to he obect of derrick, convicted at Boston of piracy and murder
the second awhile acndment was to pro m deibit any director on board the schooner Plattsburg, of Baltimore,
other bank, hie acting as such, from dealing n were executed on Boston neck oi Thursday, the
the stockte the bank. Bo proposiions were ne- 18th ins The first was a native of the state of New
The committee of the whole then rose, and re.York, the second of Minorca, in Spain, the third of
ported their proceedings tothe house, and Denmark, and the fourth of Sweden. Their c.
The house adljourtied. duct in prison is said to have been exemplary, anc-
OnT'rhuesday the husr agreed to the vote of the they met their fiate with firmness.
committee of the whole, for disagreeing to Mr. Public lands. A bill that is considered very im,
n oportant, has passed the senate, to refuse future cre-
Johnson's resolution to repeal the charter of the Government appears to
ba'k, by yeas and nays-as follows. dit on sales ofblic lnds. Government appears to
For concurring in the disagreement-Messr'. Abhott, Adams, have been driven to this necessity by the frequent,
Andlerson, K%. Bat mail, R BBley, BrJihrr, lI:nertt, Bloomfi-ld, and sometimes very unreasonable, demands for de.
Boss, Bryan, Butler. Lou. Canmpbhll lag tt,c..hb. Colsru, Com- ferment of payment.
stock, Crafts, Cruge-. Cu.shlowll, Darlingto-s. D -vidon. Earle, Er-
vin,. C. C. u GaOe, Gibsrta, a r it,.kimer, Mr. John .acob Alstor claims 51,162 acres of very
IHitcheoek, IlHl .,. H .p4 mn, Hu bard, Hunter Huntingdon, valuable land, in Putnam county, one of the thickly
Tones, Kinsey. Kirtland,Law.r., L:wis, Lin Little, Livorore, settled districts in the state of New York. It ap-
Luwnles, MLIitne, BD'I. W. Maclay, w. P. iifclar, M'Coy, Ma-
So., Mass. Mason. R. I. Merce, 'Middleton, Mils, Sam. Moore, pears that this property was sold as forfeited to the
Vuorto..Mosley, Mnrray. Jer.Nelson, H. Nelron, New, Newton, state by the attainder against a certain Roger Mor-
Orr. Owin, Parrott, Pawling,Pete, Pitkin, Pleasants,Poindexter, isand his wife, and disposed of to various persons,
1Portv-r, quarl. s, leed, Md. Reid, Geo. Rlira, Rice, Rich, Ring- s and his tife, and disposed of to various persons,
gold, Robertson, Rogers, Ruggles, Sampson, Savag.-, Sawyer, from 1782 to 1785--butthe records shew the sale of
Scudder, Sergtant, Settle, Shaw, Sherwood, Silsbee,Simkins,Slo- only 38,486 acres, 24 perches, and for the sum of
cumb, S. Smith, Bal. Smith, Alexander Smyti, J. S. Smith, Soutl- i 9, 3. orris and wife, it issaid, hadonly a
"ard, Sped, Spencer,Storrs, Strother, Stuart, Md. Tallmadge, Tarr, $59,784 37. Moris and wife, it is said, had only a
Taylor, Trrrell, Terry, Tompkiis. Townsend, Tucker. S.C. Iife estate in the property; the formeris dead,andhis
Tyler, Upha, Walk r. N. C. Wallace, endover, Witeie, r. lict is 86 years of age; tle claim of the heirshas been
V121. relinquished to Mr. Astor. The commissioners ap-
Aganst concurrence.-Messrs. Allen, Ms. Austin, Baldwin, Ball, pointed by the state have made a report on the sub-
Barbour, Va. Barber, hio, oBassett, Blount, olden, Burwell, Dr j --ty id t if t cim w s n
sha, Garnett, Hall, of N. C. ntrrison, Ht.ndricks, Herrick, Hogg ject-they contended that if the claim was substan.
Hostrtter, Johnson, Va. M'L'eai, Ill. Mercliaudl, Rob-rt Moore, tiated, .lr. A. would be bound. to pay for all im-
.T. l. NelIson, Patterson, i' gram, Pindall, Seybert, Trimble, provements; but his counsel dissented from this opi-
Walker, Keli. Williams, N. .--30.
Mr. Trimble's resolution to order a sciie facias, nion-Mr. Astor agreed to take three hundred thou-
next came up. The nays on concurring with the sandldolars for his claim. The committee conclude
committee of the whole, in its disagreement to this with saying that Mr. Astor "manifested a liberal dis-
resolution, were as follows: position to aid and facilitate their inquiries."
Mesrs. Austin. hall, Barhour, Vir. Barber,Ohio, Basset, Blount, Some very fine cod-fish were lately caught at a
Boden, Burwell, Butler, Lou. Campbell, Desiln, Ervin, S. spot bearing W, by S. percompass, 18 leagues from
Fliyd, Hall, N. C. Harrisen, Hendricks, Herrick, Hitclhcock Hogg,
1os.ctter, Jolmson. Va. M'Loea, Ill. Marehand, Marr, Robert cape el
SMoore, T. M. N lson, Patterson, Peg'am, Pindall, Rhe,. llricrt
Sliped. Sliene r. Tarr, Trimble, Tyler, Walker, Ken. 1 illIi',---
N. Y. Williams, N. C.-39.
So the resolution was rejected, all the rest of the Memorial of George W illiams.
members present (116) voting in the affirmative. IlEC.sIVED AND R EAD,rIE. 15, 1819.
Some time was spent in amending the bill to re- To the honorable the house of representatives of the
gulate voting, &c. It was made muci stronger than United States.
originally reported, and finally ordered to a third The memorial of George Williams respectfully
reading, by yeas and nays-98 to 38. sets forth; that having this day obtained a copy of
A bill making appropriations fbr the public build-, the documents reported by the committee of your
ings, was next considered, and ordered for a third I house appointed to examine into the proceedings
reading. of the bank of the United States, he deems it pro-
NILES' REGISTER-FEB WARY 27, 1819-G. WILLIAMS' MEMORIAL. 7
per to submitto the house of representatives some as a director of its concerns. He did not understand
explanation relative to his conduct as a government that his appointment implied any restraint or. his ac-
director, which has been the subject of animadv.-r- customed commercial delcing, or that, in clothing
sionin the reportof the committee. The imputa. himself with the office ofa director, he thereby
tions charged against your memorialist are three- abandoned his profession, or lost the character of a
fold-First: that he subscribed eleven hundred and merchant. His purchases were made openly in the
seventy two shares of stock in as many names, as market, and his engagements relative to them fairly
their attorney, for the purpose of unduly influenc- entered into and honorably fulfilled.
ing the election of directors. Second-That he Your committee have appeared to suppose -that
was concerned in the purchase of one thousand sundry measures were adopted by the board of di-
shares for the account of Mr. Jones, on which a con- rectors, which, having had the effect to raise the
siderable profit was realized by that gentleman, in price of the stock, were entered into for the pur.
which the committee seem to suppose there was pose of giving an artificial and temporary en-hance-
some unfairness. And third-that your memorial- ment to those prices. The me sures alluded to are
ist, while government director, had been deeply principally the resolutions to pay dividends in Eng-
concerned in the purchase ofstock, and in the mak- land; to loan to subscribers to enable them to pay
ing and purchase of contracts for the delivery of the second installment; to loan on stock at par: and
stock. With regard to the first allegation, he ob- subsequently, to loan on stock at one hundred and
trained names and subscribed one share each on twentyfive dollars per share, with requiring an ad6.
them, for the sole object of securing a considerable ditional name. Your nmemorialist was not a director
amount of this stock, entertaining a very favorable at the time the two first of these, resolutions were
opinion of the instituition--butinsodoing lie had not passed, and not residing at Philadclphi., .ii- cn'.
the remotest view to influence, the election, not be.- quently seldom being present atthe ; -I Ile
ing even a candidate for the police of director him- board, le was absent when the two 1 .. I l..
self. lie procured also, eight hundred sharestobe measures were adopted, so thathe had '. I,' I 1
subscribed for him in different names, in ten and participation in any of those proceedings. Nor
twenty shares each, in Lexington and Cincinnati, does he recollect ever to have advised or assented
with the same object. The whole ofthe eleven to the payment of the dividends on delinquent
hundred and seventy two shares were voted singly stock. He will, however, take this occasion to ob-
at the first election, the transfer books not being at serve, that he entertains a -1....-... ". conviction, that
t:,at time opened, and every share taken in single all those measures were entered into in perfect
names as then voted, whether held by the real pro- good faith, and with no sinister or interested views
prietor or by proxy. The shares above referred to, on the part of the board of directors; and lie does not
were subsequently consolidated, and were never, af- doubt, that, if lie had had a vote at all on: aunof' those
ter the first election, voted as if held in single resolutions, they would have received his full ap-
names. They were not voted on bythe memorialist, probation, whatever may now be thought of thuei
but by the agents of the Baltimore stockholders, in wisdom or policy.
common with other shares held there; and although In conclusion, your memorialists begs leave brief.
these stockholders held one fourth of the votes, ly to notice the remarks made by the committee
while those of New York held only one-twelfth upon his examination before them. He slated to
thereof, it is decisive evidence that no undue influ- the committee his perfect readiness to answer all
ence was attempted to be exercised, in behalf of the enquiries which regarded his conduct as a public
Baltimore interest, since only two directors were director, and even to disclose to them the particu-
elected into the first board from Baltimore, and a lars of all his contracts and concerns of every nature,
like number from New York. In noticing the se- relative to his purchase of stock, for their satisfhc.
cond charge, your memorialist avers that there is tion-but, understanding that the statements fur-
not the slightest foundation for imputing, either to nished, and the result contained wouldI be printed
himself or to Mr. Jones, the late president, any un- and published, he declined exhibiting for public in-
fair or improper motives in that transaction. But section his private transactions, they having not the
he forbears togo into a statement of its particular least connexion with his proceedings or character as
circumstances, inasmuch as that gentleman has pre- a director of the bank. And, your memorialist ac-
sented documents in his justification to your house, knowledgesthat he made no explanations beforethe
establishing, as he trusts exclusively, its innocent committee in extenuation or vindication of his con-
and honorable character, duct, as it appears by the report he had the op-
In reference to the third allegation, your memoria- portunity given him to do, both because lie did not
list acknowledges that, having believed that the then understand, to the best of his present recollec-
bank of the United States, being chartered by con- tion, that he was expected or invited to make ex-
gress, would receive the countenance and be invi- plantations forsuch an object; and, moreover, because
gorated by the fostering protection of the govern- he did not conceive, nor does lie now conceive, that
ment; that it possessed great advantages, which in his conduct required either apology, extenuation or
its progress would be continually developing, and vindication. During the two years he served his
becoming daily more evident-and that it wouldbe government as a director, he endeavored to fulfil
prosperous and productive, beyond any other moni- the duties of his honorable appointment to the best
ed institution in the country, he early made large in- of his judgment and abilities. He arrogates in his
vestments in its stock, both by original subscription behalf no praise for manifesting either-but he
and by purchase: that almost all he ever obtained claims confidently the merit of having, at all times
he continues now to hold; that in so doing he had and on all occasions, discharged those duties with,
not the most distant idea he was acting inconsistent- perfect integrity and uprightness.
ly with his duty as a public.director, or that he 'Your memorialist, forbearing to invoke in his fa-
transgressed the bounds, which his c i-.i ;,i'oi.-.. in vor that share of reputation which his fellow-citizens
that situation imposed upon his conduct. Nor did have heretofore accorded to him, and which has
i.: In ,-,, that, in proportion as he increased his been hitherto uninipeached, relies with entire con-
interest in the institution, he thereby diminished fidence on the justice and impstliJIility of your hono-
-i 1id. J;y to it, or became the less qualified to act able house to acquit him in his character of a pib-
NILES' REGISTER-FEBRUARY 27,1 819--BANK I'C ( L iENN TS.
lie director, (in which character alone he has any
'ig'ht to ask to be heard) of all unworthy and dis-
honorable imputations, where no evidence appears
to condemn him, and to believe his motives to be
correct and pure, where his nations cannot be sherwn
to be either crinlina or even nlamnable.
Baltimore, February 10, 1819.
corCLTr,)En FRnoM7 yn. xv, PA t 473.
Mr. Cadwallader Evans,jr.
6th question. lie does not ktuw of any, excepting that which
lhas been transferred to tile cashier i security of discounted totes.
8th. He paid the whole ofit in specie upon
lie paid it upon 200 shares afterwards purchased, from money de-
posited in the bank of tlh United States.
llth andl 12th. In November or Deetmber, 1816, lie pur-
chased 200 shares, at 14 dollars advance; in the latter part of
Augusot, 1817, I1h: purchlaseitd l1 Ir 12 shares lore, at 4I dll-ars
per share, and solttlhe 10 or 12 shares in a week or two after
they w-re i,-rchased, at 152 dolhlrs, he thinks; he thinks lie does
Slio knlw of aly other director having boullilh or sult, exeept from
130S. About the middle of Augnst, 117, lhe made a contract,
through Biddle. Wharton ad LBrotlhers, with J. C. Smith, for tihe
salle it 200 sllres, payal)l andl deliverable in six nonlths, at 145
dollars iper esiarr, with itllter(st, tile purchaser to receive thll- di.
vilenldl a lote was tak'nls, alld at tlle time agreed upon the sttck
wns paid for and translfrred. He does not kno w of any lthler
director having made aly contract for tile tpurcllase or sale of
15ill. He knlos nothing hlt from general rnnlor.
Mrt. Roelrt RalotoI-htSe.rosnoinstion.
6th question. Ile do-'s notkiulsw of irny being so held, except-
ing that he has o50 shares il his owln name, in trllst for .lusilah
Roberts, of Londolll, and 167 sllares in trust tor his hliildren.
8th. Hle paid tie whole isuml 1000 dollars on 1000 shlars, in
coin; sptci- was at five per c1lnt.
llth and 1Ith. lie does io,o know of any; lie has himself pur-
chnsed, in April, 1117. onle hilledredl shares, at 81 3-4, slliubet to tile
lat ititallm-tlt heing then paid.
13thl atndl Itll. te doe, not know of any director having made
g;y such contract.
11th. He does not know of any.
Mr. Thomas Leiper-his elx.amination.
6thl questions. ie kilowsof none. At the timeof the sIbserip.
tion, lie look 100 shares, ten shares ill his own name anl the resi-
due in othir na.. .. It ... i. i. .: i ,t :., small parcels by
the' suh, riLrs. I I \ .i 'I 1 r i lill 1i iliet tihe eler tioii
They are now .1, t... I. .11 .. ii .ii in.. He was one of
the commissioners Ior taking subscriptions.
8th, He anlnot give lil answer to this question.
Ilth and 12lth. le hlas Ieard Mr. Savage say lie had bought
and sold, and that if hie sold now lie would he a loser. Mr. Godl-
dard mid hin iheh ld sold; he knows of no other director, except
troS! general rulor;l he hlas hlinstif lever Illight or sold.
I3th andt 14111. He has no personal knowledge oil the subject.
lsth. Ile klnolws notiilig resllctilg 'such purclhasers, i Holy;
but. has ni.. li ul ii. r,- I,. ii n t great d i'al ot' that business dolie.
6th q question .H I ; i. i ii i -r ,r iF. r .1. ,i j ..l ,
byl him w s divided : .1, rl .ar., r.-, l:. 11. ,
election; hlt he has since consolidated.
Hle paihl the two first illstlllllrnts in coin atnd filnded debt. He
does sot know at %%sfat t rate slc,'H was then sold, as lie illanpr.lr'
his coin. Alb!ult Jlly, 1817, It\ sold eoin for tile Iidlia trade at
si per centadvanee. He paid tlhe coin part of the third instal-
ment also ill eoin..,
ilth and 12th. Aboutten dlys ago, he sold 140 shares, at 112
dollars, and this is the only sal he i las ever inade; he has made
0o pircllases He knlows liolhniit ulo ally other purlcbases or
sales, except from colmonr report,.
13th and 14th. He a0nsw'trs it thIe negative.
15th. He answers in tile negative.
Thedeposition of D. A. Smith.
Baltimore. Dec. 30th, 1818.
Dennis A. Smith's examination.
6th. He knows of a great variety of stock having been held in
trbst; a number ft shares Ihave been hypothecated in Ellgland
alnd to individuals tfor the purpose of obtaining loans; he knows
of' no othrr.
8th. I paid the second insralment on 30,000 shares, and paid the
specie proplrtiln of 10 dollars per share in coin, lld in draughts
oni llnston, whiclt were equal to coin. T ll! funded delt prollpir
lioil 1 al IaId as directed by the lharter.t I obtained no discount
trum the bank of the UlIited States, or its branches, to enable me
to meet thle payment of imy second istalinent; but I was ln ad-
tileate tiI' tile measure adoptive Iby the hoarii to iid the stockhold-
Srs in making that paynll"it, by discounotitng note's at short peri-
odl, !layable in sin.li". The sno'ci'lt and drallihts on Boston, cost
nie from 4 t 6 i'"r 'enlt in Phlil;olil pllia. The exclhartsle litwten
Bilatitllll're :ai Pil1la.1p !int, tat tlllt period, wail alllit 4 per cent.
g it, He snl:e -ilblcd i his o0.n nnlre, and as Ittorney for stn-
dlr b pei'thls, butt Iur his sole aeCuunlt, for 3103 shares at Laltiaiiure.
Subscriptions were also made by other persons furhis use, chiefly
il Italtimore anl in Philadelphia, for upwards of six thousarn
sithl.v-". lThle stotik slo sullseribed, Both by '-ii' W>d .,'ii.
was divlidtd ll lroin 2 to20sharesto a illne, I ii' -
so manly names was to seenre the stook. ah., i i .1 n,
'ene at tile eleetilo of directors. He was anoXious to have tie
filtitlriloln well rnlanled in wlich tie held so large an interest.
1Heal o procretlld, through Mr. Girard's subscriptiun, 2000 shares.
He purchased initediately thereafter, 8000 shares, at an advaiice
of',l dullars,alnd about 9000 at subsefqu-nt periods, from 10 to 17
dollars advsanc,'. lTose cases where. theshlres wereso divided, le
subscribed as attorney bfr the individuals whose names had been
used, and those shares really belonged to him, and were plrici-
pally voted upl n b hilm lit tin: first election, or ta others who
were inter stled witli himt; soon after tlhe first election was over,
they werr trawsfcrred by thi- indlivdlltls whose names were used,
to hili and to his order. 1l' tililins tile commissioners at Phila-
delpllia lnust I1 hav known that the shares upon which lie voted 1as
attorney, belonged to hiim.
1tllh and 12th. A lnuimber of the directors have pi!rchllasd and
sol! to his knowledge. He has known Mr. Julhn Savage to buy
occalsionllly, and sell a few shares Mr. S. bought 1000 slllres at
152 dollars, in tile last of Auguilst, 1817, whict lie yet owns. Nol-e
thlanel Prime has piurIlclaied; li has no actual knowledge of N.
Prime's havin gsld Ilt his account, lie believes lie has. Joint
Goddard has bltought 1and sold. Hle lnldeirstood Mr. Jones to say
lie had purchased a qluantity of stock at 150 dollars, whliich he
n1w holds, tbut Mr. lith d1les Inot rrecllet theit amount; lie be-
hi. %es .ir. John Donniel has either bought tor sold stoek, but
llolds witat he originally suhseli:ned i' r, aillout 4000 sllhares; lie 1liit
kiownI Mr. George Williams to purcliase a colsidertnbll alllOlnit
of stock, but has Lnever known him to sell alny; MLr. John Bolion
was ncullernelld iih hinI ill a ptllrchlase of shanr:s lit lfronll 150 t 155
dollars Iler sare; lie dIIles IUt recollect the amount, bllut thinks at
least oo':; shares; he has himserlfimade many purchases aln sales
of stock, but c;aliot stt' tl(h.- Onllillit.
13th aind 141b. le kn ows several directors to have contracted
toreecive stock, but nIone to deliver it, except himself, who has
contracted to do both.
About tile 2d August, 1817, Mr. Jones was interested in a pur
cllase of a contract or stolk, whlic wans made by a broker, Mr,
Nirt ni, in Philaldephia, oi account oft D. A. Smith, the whlol
colntrict wsas 3(100 slliar'. I f whlicl, Mr. Jones had 1000 shars' .
Mr. Savsig.- had 1I000 slharis, and Mr. J.loltlhan Smith had 10,0
slhi's, at 135 dollars ptrshanr'; they w-ere delivered in about 10
ayvs, andi tile cnlltrlet was fulfilled by the payment of the diftlr-
elc', to tir anmouint ofl'10.000 dols. or thereabilots. TIhlere was a col-
tract lmale by Mrl. G- or(,' i WilliIls and limnself, with the Cotn-
inerciil 3Bank in Phihf leilphia, for thile l-nefit of Mr. WVilliam
.olll l tlinklis. for 100l shares; the contract was ftfiilled by tlhe
dtilivclr of tile stock. hliieil was sold, and tile profit given to Mr.
Junts at tile making of thecontraet. of Ilis being itteresteedl, ht
lrevioius to its iimaturity, such all i;tilmanion was given. The
profit on those 00 shares, was panid Mr. Jones in money; Ihe
thinks the profit was about 15,000 dollars. If the concernl had
been a losing llneP, it N\ ii.. i i,.. ;, ,I:..! Mr. Williamsalnd
himself, not to a lprit i. i.. i. .1 .i- has muiade distinct
contracts oni his own :.n. ---iir, riihv It.- C.innmereial Bank in
Philadelphil, ror the purchase (of stock, ole for 1000 shares, and
one tbr 1760. Mr. Williams maldea number of contracts, lor tile
purchase of shares, but made none for the sale of shares, to his
Testimony of Clerks in the bank.-Jonathan Patterson, first
He wasfirst tellron tlhe 28th Algust, 1818, but was absent
ironll the hank; hI- hiis generally paid out the paper of this Ibanlk,
and never paid olut the branch notes when supplied witb their
owii, ilnd wi'h"n they were paid out, they w -era itn notes of small
denominaions, tells and fives principally: bIlt tillt never a-
nollunted to any clnsidl rable suim. Soon ftter his return to tile
Ihani, whidi wslls two or three weeks. aftr the 8titl, tite notes of the
bratlll,es wet'r r,,eiv l'd fi'om tl-avi llrs hlie has exchanged small
slsils with ilrrsnlls who stated tiley had received the branch nutes
froml tie b: Ilk, befior tlt- rtsolutioln tas passed.
Catch P. Ir/i',ig-third general head, third question.
S.i..ii Aljsiotsc last. Ili was seciold teller, (leetiillg tel.
ler.) ..- 1... I. .,i tlte resolution inlllediiitily oi its being Ilssed ,
(about 1 I)'el.loc) but understood it was Inot to take etect oIl that
day; he never paid out any other than Ith notes of the balnk, ex-
e Ipt in csess of' necessity; he oil Iiat 11i3y reeivsd all Iraneh iot1 s
thlit were oifered; sine" the 29i', lhe has received tile notes of
branches only in playmn ol' duties to the gIvernment, except in'
very few instaniees, a small note would be received tosnlse a Ipro(
test. but Iever asafhvoir to individuals,and generally oln hi own
resp[Olsibilit) ; lie acted as fhirs teller on the 28th Aulgust. ald for
abouttwo weeks atuer. and no notes uof tilIh lranIchl s Wvre re-
ceived from travellers, during the time when lie so acted us first
-.ii-, l,. ..iI ir.i ri brncheies which w-lre paid otimmediately
I- Ih i.. : 5,'. ,.. I were those oi' sinill denomliations, and
never amounted to any) couiiidrnlblile snm.
He was discount elerk lroin i. .: :' .I;... of the bank till
Mr. BiIrtis succeeded him; lie ki ii i ,. ... bookfrom M to
Z, lanl tih, account of notes discounted on pllidged stock; alld Ie
k Int th offering oti1leil oil plldgr d stock; there never was ally
naole discounted on plleldgrd stock, witl0tot'tll-ir being pla) blte to
the clsllier, nlltess in the case of discounts above tiht par vaillc,
wflli all endorseir was ri (iuir|d for thie excess; Joseph ':'. Cle-
nit-Ils wav astssieatiell wilt hIin in tile discount d(eparfltillet. In
tlhe eae ol s l'i soll-rI d Ilr renewal ot' those which had llben di,-
eoluntle on pi.idgeld stock. and which f.ll due on i I r...i ... i,
da3)s betnveen discount dilys, thie discolint las bie f i ,
NILES' REGISTER-FEBRUARY 27, 1819-BANK DOCUMENTS.
president and cashier, without being communicated to the hoard.
and before a meeting of the board. it was consider-d a matter oi'
course. thlls to rieiw thie; he does 'lot know of any authority
having been given Ihy the hoard to the president and cashier, to
discount any notes, to the amount of 500,060 dols, or to any other,
amount; and he does not know of the president and cashier hav-
ing discounted any original note, (not a renewal) except anit ap-
pears from tile books, that notes have been disenunted, without
having thel-tter a a letxed to them; all the notes marked a, in
the discount bwk, %were done at the board, those not marked,
were entered by himi generally, and as discounted by order of the
cashiers he mentions the discounts of
S. Gratz and brothers, for .- dolls, 10,000
Angust 9th, M. Ball .... 6.300
Savage anl Dugan 17.500
Calhounl and hiMtthews 40.000
l-. ,i i t, i r ,. ,,,, I Davidson, 140,000
L... .... 22,0i:0
August 29th, George IRundle 17,500
.John Bolton 243,400
As being original discounts.
He has no know dge of the president and cashier, or either of
themi,.laving discounted notes, or made loans which are not eu-
tored in tlhe books.
Henry .. lltfchihtr--s-c-rlon general heal, jfiflh questiool.
From the organization o! the banok, until thlr2tlh OctobLr, 117,
lie has had charge of the business, of ree giving tile instalments on
the capitalstock. He attended only to rteeive the fundtdl det,
ptirt if tih 2d instalment; the coin part was received hy Mr. Id-
ilngs, ithe 2d teller; I i., .,. i,. i, .- i;.... ii 'the2d instal-
mtntt ibeingpaid hby I.I I .. I. I s, and did not
know irom what sourrce e fit iiinds i\wst. drawn. When more tlhaln
the coin part was received instead of the fronded debt, it was by a
check or ticket passing from the 2d teller to the witness; these in-
stances were very fiw i felref the 23d JIanuIary aft'r tile 23d Jan-
uary, large amounts of lthe stock were paid by a credit in the se-
cond teller's book, :on! witness look d in that book for evidence of
credit; the payments of funded debt after the 23d1 wer- fftw, conm-
pared to the amount ofthe payments which had been previously
f'itnes.ses ott of/ite Ibnk.
Sestionso Is ltnicsses ou ot of' the bank.
1st. Do you lknow what kind of notes were paid out of this bank
on theS2th \-.., I I and initiediately preceding that time?
I so, state .. I. ii... II. were tiny notes laiyable at the branches.
2d. Do yosi kilnow whether the ibaik of the United States re-
ceived the notes of its branches after the 28th August, especially
those which had heen paid out of the hank?
3d. Canl you refer us to alny person who e-' :i give information on
the above stibjlct?
S. ... t Bank.
James S. t,.. ,,,,. .. ...s .,'... .. t i.. I, -i i t North America,
says ill answer to tile
1st. (lue-stion. That short time before the period allded to
and freqllueltly in the course: olf busi-nss, lie reecive-d ir;lncllh in tes
t'oln tlhe banl of the United States, butt not to a large amountt;
lie received some of 100 dollars, and olme of 20 dollars, hut they
were most frieqently iof small di, l inationlats-the lti0dullar notes
were fritluently siing!ed with th theotbhr notes of tlhe bank.
2d. Thel banli always received back lionm him, the br;nich not's
which he had there received. 'Tho!se branch notes which had
been rt-ceived at tle hank of' North A.nerina, on tlie 28th August,
were received by the bank of the- United States the next dtiy
butwere afterwards refused. He underrstands that all the banks
in Philadelphia were treated in the same manner. He knowss of
no instance of a refusal onl the next bank day, to receiveof banks
the bralenh notes so on hIand. iut lie saw tile officers refuse to
receive them at the eolntt'-r. of individuals; but lie does not
Iknow wliether those individuals received them of the banlk or
not. I do not know and never heard of any instance of branch
notes being refius d to be received of aii indiliidnal, who had pre-
viously received tln it of the harnk of the United States.
He has never received any other notes of thie ank than its own
payable at Philadelphia.
'. "- ,t-ffc Baltimore branch.
i i I*'*' ,,'-i I I i' p. I, I' the board ot directors,
over which you preside, to the disposal ofthe president and cashier
to he loaned by them on pledged stock, or otherwise? If so. has
any authority firi that purpose been given by tlhe parent board?
2d. Wiiat was t heainouit of disctoUnts on pledged stock, prior
to the2d March, 1817, and were the notes then discounted, paid
at the time tely fell iue?
3d. W re those notes discounted on pledged stock, after the
25th dayof J.lly. 1817, paid It tile time they fell tdue?
4th. Was it known in Baltimore previously to February. 1817,
that the paym-ent of tihe specie part of the second instaoinint,
would befacilitated by makii.g discounts to tie stockholders of
5th. Have draughts oi other offices been sold at this office for pre-
todth When did you receive information of the parent hoard
having adopted lhe resoltllion of tth 28th August, 1818, reulsiing
to ireceivre le Inotesof the LrIIcllthes? what kind of noiLs did you
payoutof this ofllie. inmroe*diately pre-eding tha ti te?
71t. How w'r-- thi e ibalt;ners i gainst you :It New York and Bos
ton r-tdrie, d, itn Ftbruinirv :aid M.rci?
Jales .c lin'/liioti.tnl' iealcnt-rc. oanswoers
5th. He does not know of( a l,-.
Sth. He paid the i huit ui tt.o species part of the second install
ment ill eoin.
I3th and 12th. He has no precise information on the subject
upon which he could rely.
13th, 14th and slth. H-e does not know ofany such transac-
1st. There was no specific fund appropriated; it was a matter
of course here. to discount oni pledgr-d stock, anl thle the dis-
colunts were made by the president and cashier of this office,
tUnder a verbal authority given by the board of dir-etors of this
2d. H- believes they wer- all paid without renewal, excepting
ini two instances, in these, notes were renewed to the amoutll of
5410 61 c nts.
3d. Those notes were generally renewed and continued so up
to this time.
4th. lie believes it was q g erall known.
5tl. He refers to tlie erhi,-r ior illormallion.
6th He refers to the cash'ier for information.
JTnmen V. M .'CtloN--his iwemisrlion.
6th. He kno\s ol 4000 shares eldl hy Ridchrd '.i. Jo.i son, as
assignee of Jaiies Prentiss, of iKentucky. He knows ibat large
amount of stock is held in Etngiland and in New sork i;.-: hy-
pulhecations. for ile morpos.- of obtaining loans: It k -i.i, of
to other; that so.ne was held by the hank of the UnitJ Siit-.t aond
8thi. He pnid tile whole of lte specie part o;' th l 'v:coad instal-
ment on the shares Ih'rl by hin.in coin,and iy irautI-hts ,nI Bos-
toll, which cornmant;dd rcin, and for which ihe p i. t.ie same
plice as fir coin: Iht paid eilit and tt,n p.r ce.t. i Bial-imiore
fbr specie and draughts. Alijit a iiiwi, i; ltior:- thI, resolution,
was adopted, aulthoriaing discounts to fe;itltei tih plin.ylo int o
the second installment, speci, ie ulii; t-i toa wais at 25 per cent.
9tih. Hethlinks he subiscribed lir inonle in his own naoie; lie
snbscribhd foil 2000 shares join lllyv 'ilt his brtllher. as attornr ys for.
about 2000 personsand l000 sin crs s;i li,- \tht Siith anid IBueha-
Inan, as attorney for t100 p. rso s; i: ,is- sarr i; etillly hitlnnged
to himself nd brother, :.nd Slu)th aid B1 e ail:lan; lthiy vot iid llos
thtuse shares by vi'tiLt of the ipmer g;v.n i y tI illniviiilals
whose names were use-; thosi shares w .e conisiolidateld tri'ir to-
th first dividend, and aiftr thl second election. He thinks all
the stock suhscrii::d at this place, wat eonsolidated after the se-
co(nd eleetlion, and uricr to thil first ilvil'n'
1Wth and 12thl. IMr. ,John Goddard l>-i informed himi that lie tas,
sold some stk, how I o,.hi he is ignorall; ien thillnks it was ill
1817 Mr. Bolton sole, stouk inl til close oft ite yar 1817; lie
thinks both these sal'-s were at abollt 140 to illldollars.
llafolel Eyresold some earlvin 1817. Clhasdhi r Price info'rm-
ed him he had soad sou;n- .arly'in the year 1817. 'IMr. Girird has
solllarge portions of sl.;ek, pr.eviois to thp seIcoid ie t s.lrnt,
and some ltimte prvionls to the thlirl instala'ent; 30oo shiars to
Dennis A. Smith.aind S-nith and luchanan and Georg Williams:
1000 shar- o tl Sagl, through N.wman, ia brol,-r. A Ipur.
claiea ot 106,o sriares was tnade by D. A. Smith.Geor'ge Willia;:its,4t'd
Smiith ani; Buchanan, receivallh, of W'n. W. S.inith. a broker.
and the Colnnercial Banik at Philadel!piihl; it was thl. int- uiion of
those g, ntlemii, i ith lslonek rose, tol pr-si t them to Mr WVillios
.JoIlrs without whiost knowledge tht purchase l:a'l Ihen tnlde;
Mr. D. A. Ssllith, conutirnl to the intlltoil of Ilh- gilnl lmen
conleriled with him,l a ats they thought. prematurely, after the
stock had risen a few dollars, mentioned the transaction to Mr.
Jones, wh., accepted the purchase, an.d considered the stock as
his own; h,- thinks that Mr. Jones ir rcc ,l t1,. I, i.,- rt ofl' tihe
contract andsold it witlhot having r -... r -.. to lim;
lie sold it at a profit of about 15.000 .. .. '.I. '. .ol re-
coll,.eci. He understood ifom nMr. Jones, that ihe piurhaised, 00 0
shares, which li. hIas recently been intbrnied are still field ith Mr.
Jont s; he bought them at about the same price or a little higher
than thesol tlte contract for- HeI knows of no othl-r instance ill
wthicl Mr. J.ones was intt re-stied.
Mr. Goi!iard lhas alsinithiriel fr. M'CulloCiih, prior to the sales
first nmentionl.- in his anoler, lhat he had plrchatsed st.,-s; to.
what atouniit he i : Mr. Bolelen lias alsoi purchas 'd i iek;
Dieis-liA. Smith 1.. ,.,, in llformed him of pltrchas's and siles
tlat he hlal nmd i, rquen;ti and extensive hly, tit lie caillit re-
collect elle particular; 'tr. G orge Willianu -'ali oift-n adet large
pilrcllases, a1 halts ntii i srali Sales. oncei. : 1. ; ;. ... .,
oi f 1l, ", ,1 tl. Jo -iS iavagi its ,, I J...
of1 5 ,. I hats it acll se al en si t' al l "o somle
times at high prier twhe ici e s ill lids; MrI Geoege V' ir. its,
S*mithaii t B:chiaan, and hinul- Ii ,v ne d'- considerahl- liir-
ehlcis,in wlich th:-y wser- jointly itter,-sted; and tht>v sitl hold
tiI stock thus plrlihliat lwi, itll te exOciption ofaloit'-lo00 shares
that lav>e beei ilhl; wi. h w! r., recent v sold atthratt.e,- f roDm
12i5 to 127 dilarl ps:r slar tsih sl iplrclis-s w-ere ma;!-. :t thrre
periods, hut ehi fly ofnne .,,1 ,.,; ,. those oftll, first
period, t lllblt any plros ,, I .. -.... I 1. 4. purchases w re
maieofthis person wsi'hla desil rto strv--hiim, and li secure the
payme:l ol larvre ldelts due to ihs inlstitio'l.
13th and I lh. He knows th t Dlnsis A. 5'niih sas 11'!. large
conlracs for thiplilnrlllcha of stoct; hut !ias rnll vr'i few, and
to a sltail asit-ow, lbr tO stb uis vf sihAs- thw e*,'i l '-.i0 wI re
made dicili riU'Ie y-or 1817. a.i, nii.'.-ill[, hI a f1ew iiiolt;ih tirme.
At all times his onli racit for plrIha-e r w,.re It little alrve the mar-
ket price, ofsto-,.;,and altlshwogil ;tr:,- iraltv sol. Uilo iimse lf'
r.c: .iv. .I tlh tl]tov a 'l ilfr t h clisC rwni't was ii tilre. at ad
e in se, e n sne intjte,,s, w-eil ] r tt i coVs,'l "ri-le loss
He dots not k.niw of auy other ciitra-"t ,h-.'visg i-eni mnaif biy
aiy oth, r Jiir", tor.
tlit. I :1i ,s o ib- pII rchie.t i oto st C(k nili- '1" i, George W il-
liaiisIII lii a .;it tl',eti.a1 i a, .l- ti ill) II ,1i. ".1i to-' h
tr 'ts f I" .' d;:' I-rv o` sIto k :; t nll l l I ol .ie i ;,.e
t k. t in.lf l tl hu f e le 1, li0 ,s 4 i a.. i, lls: i Wr
Inos na,lde alt thini ,fliec o(: pIL.dged st), h:ave bh't I1
10 NILES' REGISTER---FEBRUARY 27, 1819---BANK DOCUMENTS,
made generally by the president and cashier, under verbal autho- fused. He is the officer to whon such applications would, and
rity of the hoard, given generally. and not in reference to particu- ought to he made.
lar instances; thar they were made to every stockholder that ap
plied, until this office was instructed not to increase its loans; WASHINGTON.
under the same authority,the president and cashier have generally ExanmiMti n of George Graham, esq. who became president oJf he
flrchased bills and draughts on those places, when it was desira- office at Wiashinlgto, in the month ofJuly or August, 1817, and
bletoremit, and chiefly on eastern cities; in order to reduce the is so at this time.
bale;icesagaiust this office, they purchased bills atsight, and frou' Sixth answer to sixth question to directors: There is stock
sight to sixty days; he thinks they would average about thirty pledged to thecashieriin security for notes discounted; he knows
days; the aggregate amount has been very considerable, and wilta of no other, excepting about 200 shares held by col. Bomford, in
very fewexceptions, and to trilling amounts, they have been paid trust for Mr. Cults.
at maturity, and in those except d cases, the draughts have been 8th. He held no shares at the time.
paidon their r-turn.ard there is none lying over. Occasionally Ilth and 12th. He hasno director positive knowledge of any
or the purposes o security. the pr'- ident and cashier have, w-ith such sale or purchases.
the approbatio. of one or mote of the directors, discounted to pre- 13th, 14th and 15th. He has no knowledge ofany transactions of
Tent loss to the office. that sort.
ad. The amount discounted in that manner for the specie part Answer to sarne questiontput to the president and cashier at Bal-
ofthe second installment was 138.320 dollars; and 12,200 dollars, tomore.
was discounted in anticipation of the third installment; all these 1st. He has no knowledge of any such appropriations, or ofany
notes were paid without renewals except in two instances, to the loans having been made by the president and cashier.
amount ofabout 5,400 dollars. 2d. Thisoffice was not in operatibn until the 8th March.
3d. Some have been paid, hut supposes two thirds of them in 3d. The notes on stock havegenerally been renewed whenever
anuunt, remain nlow onl relitwal. requested, and have always been curtailed in tle same propor-
4th. The directors and officers of the office, endeavored by on- tion with other notes, whenever a curtail was directed either by
versation to make it known, to the stockholders and believes it the parent board or the directors of this office.
was very generally known to thelstocklielddrs and to the public, 4th. He cannot say positively whether it was known in Wash.
bi tne 28th uf De cnmher, and fur a month b-cfre it had been ge- ington or not, but presumes that it became known by February,
merally spoken ol, and was anticipated. 1817.
5th. Froms September to Novemhbr, inthe year 8l8,draughta 5th. Draughts to a small amount have been sold at a premium,
on the ank of the United States to an amount, of about 80,000 but refers to Mr. Smith, the cashier, for the amount of sales, and
dollars, have been suld to applicants at this office under the direc- the rates. Bills of exchange have been purchased to a considera-
tionsof the parent hoard, at an agregate rate ot about one halt ble amount by the cashier, without bsing submitted to the board
tpr cent. Draughts on other oflices, to the amount of about of directors. or to Mr. Graham; and he has no positive knowledge
17,000 dollars have beetnsold at the rate of from one to two per or tioem
ce:nt. under thie same directions. Since November, hIe has eased 6th. He was absent at the time, and does not know. This office
entirely to give checks to individualsoni other offices, and has re- generally paid out its own notes, and never those of the other
fsseti rcpeatcsd appeoiations flr draughts at a premium. The pa- offies, unless required. Very few notes of other offices have been
rent board will not allow the offices to draw on each other, received at this.
6th. He thinks, on the st of September, 1818. previous to that Richard Sniith,esq.cashier of the office at Ir ashington.
timr, this office had indiscriminately received the notes ot the pa- Answer to 6th question to directors. He does not recollect of
rent bank and of all the offices, and had inidiscriminlately issued any other than what is pledged to the cashier, in security lor notes
them. Altout 10,000 dollars had been alleged to have been re- discounted.
eeived of the notes ofthe oth' r offices by individuals, and were re. ath. He paid the specie part of the second instalment early in
ceived by those indiividuals again at this office; there has been no March, either in coin or in the notes of banks paying specie, .shich
instance within his knowledge of an application to receive the were deemed equivalent to coin; specie he thinks, was then at par
notes of the other offices, alleged to have been paid out by this in Washington.
ffie, having been refused. Anid when applications hIave been 1ith and 12th. He knows that D. A. Smith purchased to
nmad by travellers fbr the notes ofother offices, or for the redenmp large amount, but does not recollect the particulars. He under-
tienofthe notes ofany other olfce at this, they have been ulni stood that a company of gentlemen in :Baltimore, purchased of
forinkg accommodated. Mr. Larentrie, the first teller, was the the banl of Columbia about 3000 shares, in May. 1817, and that
officer who paid out notes at the time alluded tp. tlank being indebted to this office paid it by a dr.taught, on the pa-
7th. The reduction ofthe New York balance, was effected by rent hank at Philadelphia, of 237,250 dollars, whicd draught he
the sale of foreign hills of exchange by individuals of Baltimore, supp|ised hail been-obtained for thie shares sold ; le knows of no
to the parent bank,by whom a check was given on New. York for other sales or purchase of stock.
1,007,500dollars; these were the same bills that were obtained on 13th. 14th and 15th. He knows nothing on the subject.
pledge of stock, to Messrs. Barig andl Brothers, in England, AnrswTers to questionsput to the president and cashier at Baltimore
ftdr a loan made by them; occasionally treasury warrants ois New Ist. There has been no particular fund appropriated for that
York, were received from tht! office at Washington, in payimentof purpose; but the directors of this office, in the latter part of July
the balances due from it to thisoflice, and the reduction wastfur- orin August,1817, authorized the cashier to discount any note
other effected by commercial draugnts sent to New York for colice- that might be offered, between discount days, on the stock of the
lion. bank, or on funded debt: he loaned very little under that autbori-
From the commencement of this office to this time, it has made ty; le thinks not exceeding 10,000 dollars.
remittatee"s tof specie to the amount of about two millions, sent to 2d. This office did not make any discounts until the 8th March,
the parent bank for tihe purpose of being remitted to Boston,and 3d. They have generally been renewed, and always when re-
New York, for which this ofilce obtained credit at the pare, t bank, quired by the discou enter: whenever eurtailments were directed
but sotat thost offle.s. In cousequince of tle redemption by the they fell equally upon these notes with the others.
government of the II millions ofdebt, all the public money in 4th. It was not known in Washingt3n only from general ru-
tlis office, amounting to about a million and a halt; was in July, mor.
117, transferr-ed to the parent bank. The reIluetion at Boston, sth. Draughts have been sold to the amount of 320,495 41; the
has been effected generally by the remittances of commercial rates on Philulelphia, commenced at one per cent. but in less
bills. The treasury account lhas frequently been overdrawn at than a month, they were sold at 1-2 per cent. Droughts on
Ihis office from 10,000 to 200,000 dollars. Charleston, Savalnnal, ani New Orleans, have been uniformly at
The parent bank has credit for about 1,000,000 of notes sent to 2 per cent. on New York they have varied from one, to one and a
this office as nmony, ard the account within, includes every thing half per cent. the draughts were sold by him, to whosoever ap-
in whiit the off.Ie and bank have any concern, plied, and under authority from the directors of this office, autho-
.The reductions ofthedebtto the parent bank,inNovemberlast, rized by the parent board to do so. He has purchased domestic
was efrected by draughts onI those offices which wero indebted to hills of exchange payabll.at sight, and some on short time, not ex-
this offiee. and upon which this office had been prohibited giving ee>,diig five days sight, but not to a large "amount. All those
chlieks to the community, until further ordr.rs, which hail long time exceeding five days, were discounted by the
Johin Lewis Larentrie, was first teller of this office on the first board. The purchases made by him, were not under special au-
or~Septembr last, and has been so from tile commencement of the thority fi-om the board, but were made for the accommodation of
institution; it is, anil has been his business to pay out money and the individuals offterint them.
;notes from tlis office; as fast as they were issued, they wese im. 6th. It was received probably the 31st, of August, as it was laid
iediately remitted. This office has never had a sufficient sup- before the hoard of directors, on tle 1st September. The prac-
lI ofits own notes. Previous to thie 1st September, 1818, this tiee was, to pay out only the notes of this office, but those of
office indiscriminately received and paid out notes ofthe bank and oth r offices might accidentally he issued; he recollects but one
its offices. After that period, and alter they were apprised of the instance, in which any person applied to this office, to receive
resolution of the parent board, this office did not pay :;ut any baLk nostr of other offices paid out before that time; that was a
motesoflthe bank at Philadelphia or of any of its offices, unless very trifling amount, andnot being convinced of the fact, they
when they were asked for, except in one or two instances, one of were not received.
500 dollars, aul thle others of 20 or 50 dollars, which were entire-
I3 accidental, and which were immediately received again on ap- Statement of Branch and Post "N.otes originally is-
3licationfor that purpose. The Union bantk hadl received more sited, p;yabl!e at each ofnie of Discount and Depo-
than7,000 dollars, which had been remitted to Barr, Kuse, and i f te n he ited
Welch,and by them deposited in that bank previous to its being sit" olf te Bank of te United States.
notified thatsuch notes would not be received at this office, and OFFIurE. POST. BRANCH.
although those notes were not paid out at this office, yet on appli- Portimouth .. 252.000
cation for that purpose, those notes to that amunont were received Boston 80,000 368,000
tfter the lst September. He does not reoec t lany other instance Providence- 252,000
oi an application to this office, to receive back the notes of tihe Middletown .. .52,000
other offices which it iad previously paid out, and he is confident New-York 354,000 580,000
that it any such application has beet psade,it has ever been re- Baltimore 870poo
NILES' REGISTER-FEBRUARY 27, I819--BANK DOCUMENTS.
Office at Baltimore,
b 1817-April 2
S18 --Jan. 8
Olce at Washington,
Ofice at Richmond,
Offce at Norfolk,
Ofice at Charleston,
--236,08 3 79.
-- 1,461,154 52
----- 254.323 42
Aug. 7 35,790
Oct. 3 71,540
Norfolk .. 360,000
Charleston 23,000 624,000
Savannah 36000D 1,216.000
Cinciunati 4 80,000
New-Orlian 100,000 788,000
Pittsburg .. 420,000
Total. dols. 11,210,000
ppink of the United States, December 24, 1818.
List of Branch notes, payable to bearer, -which "have
been received at tlis bank, and rneitted to the seve-
ranl qfces, as folloles, vi:,:
9fice at Ntew-rark,
1817-Oct. 17 98,964 13
1818-March 13 27,513 53
May 2 8,240
June 20 32.736 08
July 20 6,020
Aug. 190 29 10
Sept. 2 13,'77
Office at Savannah,
18 17-Nov. 5
Office at New Orleans,
Office at Pltttsburg,
Office at Lexington,
Office at Louisville,
Office at Cincinnati.
1818- March 28
Office at Chillicathe,
Office at Portsmouth,
181--Jan. 12 8,000
dolls. 5,235,933 50
Note.-In some instances, small amounts of notes, &e. of banks
in the town where the branches are located. were included in
the above remittances.
1818-August 28-Amount of branch notes on hand--l,Ol,194
List of Branch JVotes paguble to be rer, nonw o0n
haondin the Bank of the United States, December
New-York ..... 17,004 40
Norlolk ... 16,000
Pittsburg .... 72,000
Cincinnati ....... 45,000
New Orleans 000
Fay,:tteville ...... 37,000
Charleston 95,000 ,:
Savalah n 46,000
Providence .. 3,190
Boston .- 7,605
Branch notes not assorted 8- ,784
Ditto cancelled -. 135,605
dolls. 912,008 40
Report previous to dividend, July 1818.
At a meeting' of the president and directors ofthe
bank of the United States:
July 6th, 1818.,
The committee appointed for the purpose,made
thli following report, which was read, adopted, and
ordered to be entered on the minutes, viz:
The committee appointed to ascertain the divi.
dend which, in their opinion, ought to be declared
of the profits of the bank, for the last six months,
That they have carefully investigated the subject
referred to them, and beg leave to lay before the
board the statement of the business of the bank and
its offices, for the last six months, by which it will
appear that the aggregate amounts of credits is
S1,632,319 85, and a debt for expenses including a
provision for the bonus, amounting to S229,907. 91,
and also F86,260 57, for the expenses on the impor-
tation ofspecie,from Thomas Wilson and Co. ofLonr
dop, leaving a balance of1,316,151 37.
12 NILES' REGISTER-FEBRUARY 27, 1819--BANK DOCUMENTS.
The expenses under. the contract (for specie) t
with Messrs. Blaring Brothers and Co. and Reid, r-
ving' and Co. has not yet been ascertained, but it is
however sufficiently known, that the premium re-
ceived on the sales of2,u00,000 dollars of6 per cent.
stock, ordered to be sold on account of the bank in
London, will be sufficient to cover the premium paid
by the bank on the two millions of like stock, pur-
chased on account of the commissioners of the sink-
ing fund, and the balance remainingoli the dividend
statement, willbc more thau sufficient to meet the
unascertained expenses on specie imported.
Your committee therefore beg" leave to recom-
mend the adopixtonio' .1.. i .. '... solution, viz:
Resolved, That a I I i o. i i ... and onei bllf
per cent. on the capital stock of this bank, be de-
clared for the last six months, to be paid to the
stockholders or their legal representatives after the
(Signed) TIOS, M. W KILLING,
J OHN CONNELLY,
7Repot pre'vi'ou to dividend, January, 1818.
At a meeting of the president and directors of the
bank ofthe United States:
.Tanuary 5th 1818.
f The committee appointed for the purpose, made
the: ....... report, which was read and adopted,
and withlthe statement accompanying the same, or-
dered to be entered on the minutes, viz.
The committee appointed to ascertain the divi-
dend which, in their opinion, ought to be declared
from the profits ofthe bank, for the last six months,
h'tr- love to report:
1 I, .1. on a careful investigation of the business of
the bank and its offices, for the last six mouths
they have experienced much satisfIction; find-
ing the result to prove much more advantageous
than could have been anticipated, under the priva-
tion of so large a portion of the funded debt of the
United States, which the commissioners oftlie sink-
ing fnid requiredto be surrendered at its par value
agreeably to the authority granted by provisions in
the charter. -
The dividend statement, herewith presented, ex-
hibits a credit ..1' :i .717,3.58 84, including the sur-
,plus of the former half year; and a debit for expenses
attlsisbank, and the different offices, of ;,. .
60 cents, including a provision for the bonus to the
government; leaving a balance of .' 24.
To declare a dividend of four dollars on each share
.i.-|..: ..'i i stock of the bank, will require from
I ,;,,, il, | ., .... I *(,1 '. I. 1 consequent-
ly afford i, 1 '
The c.... i ..: 10 submit tlhe
:i ... ....' resolution, to the consideration of the
Resolved, That a dividend offour per cent. be de-
clared on the capital stock of this bank, for the last
six months, to be paid to the stockholders, or their
legal representatives, after the 15th instant.
(Sigied) ROBT. RALSTON"
COlAND, PRICE, Committee.
1THOS. ['EUEN, i" e
JOHN BOLTON, J
.Bank of United States, 5th .Tanuario 1818.
*Report previous to dividend, Jilty, 1818.
At a meeting of the president and directors of
the bank of the United States:
TJu h 7th, 1817.
The coninmittec appointed for the purpose, made
the 1' i1 ... ,' report, which was read, and with the
resolution accompany ing the same, adopted, and or-
dered to be entered on the minutes, viz:
Tlih committee appointed to ascertain the divi-
dend which, in their opinion, ought to be dcciared
on the 7th instant, from the profits of the bank, re-
That on examination of the subject referred to
:hem, they findthat the profits of the bank at Phila-
delphia, including tie interest on the public debt
to the 1st instant, together with the profits of the
offices at Boston, New York, Baltimore, and Wash-
io tie 1st day of June last, amounts to the
... ji 1 'I. That the currentent expenses
[or salaries, stationary, &c. amounts to r.,' '1. 33.
That the expenditures for fixtures, &c. at the bank
and the above mentioned offices, amounts to '.
062 89; and that the expenses and compensation to
the conmnissioners appointed to receive subscrip-
tions to the capital stock, as far as they have been
paid aniountsto !'., ) 85. The two last items of
expense being ., 1..1 i cargeable on itture divi-
dends, as ellas the pesec, the committee suggest
the propriety of apportioning these suos, so as to
be absorbed in five years, charging each dividend
with one tenth part during that period.
The act ... I. 11... bank, requires a bonus
to be paid to the government of i. ... '' '. .., three
equal installments, the first of :.... -1 I.. at'the
expiration of two years, the second at the expiration
of three years, and the third at the expiration of
four years, from the colmmencemenlt of the business
of the bank. As the whole of this sum is chargea-
ble on the profits of the institution, throughout the
period of the charter, each dividend will bear its
proportion, and which on the present occasion the
committee are of opinion, ought to be the sum of
From these premises, the committee have pre-
pared, and respectfully submit the statement No. 1,
by which it will appear, that a dividend of two dol-
lars and sixty cents on each shares of the capital
stock, may be declared from the profits of the bank,
and leave a surplus of 111 : 40.
Thle offices which are not embraced in this state-
ment, having recently commenced their operations,
could not furnish the official returns required by the
9th article of the rules for their government; but
for the satisfaction o' the board, the committee have
prepared and herewith submit a statement, No. 2,
I||i>;.,. ,i .- profits of the bank and all its oflices,
from the commencement of business to the 1st inst.
together wiith the 'whole amount of expenses, in-
cluding those of the commissioners, and necessary
fixtures. By this statement it -will also appear,
that the contemplated dividend will be fully jus-
In -.i'.,.;'i:'.,' this view of the business of the
bank, your committee cannot lbut offer their congra-
tulations on its prosperous situation; and observe,
that ,..' ;i, ., 1; .- the difficulties with which it
had to contend, in : I-.'.._ specie payments, in
I. I -1i .. .. -1. nges, and l arnishing a circulating
.. .....i. i. ,...o. .I on a specie basis, throughout the
union, there has been accomplished, not only the
greatest benefit to the go ernment, by bringing
into activity the immense dormant revenue, which
has been so long useless, but affords to the stock-
holders a remuneration exceeding the usual interest
on the capital advanced..
'The committee beg leave respectfully to submit,
for the consideration of the board, the following re-
Resolved, That a divi!end of two dollars and sixty
NILES' REG[STER--EBRUARY 27, 1819--BANK DOCUMENTS. IS
cents, on each share of the capital stock of this bank,
be made from the profits to this period; and that the
same be paid to the stockholders, or their legal re-
presentatives, after the 17thinst.
(Signed) ROBT. RALSTON,\ n
JOHN BOILEN, J
JNO. GOUDARD, J
Bcnk of the United States, 5th.1h y, 1817.
Resolution directing Boston branch not to issue any
.other t1hi its own notes.
At a meeting of the president and directors of the
bank of the United States:
AJay 26th, 1818.
Present, W. JONES, President.
.Messrs. Butler, Willing, M'Euen,
Blowne, Bohlen, Savage,
Connelly, Leipcr, Goddard,
Price, Evans, Fisher.
Resolved, That the president and directors of the
office ofdiscount and dcositat Bostn,;bc informed,
thal the cashier of that office has been instructed,
bv the authority of this board, not to is-ue from the
said office the notes of this bank and its offices,
(other than at Boston;) to forbear drawing on this
bank or any of its offices, unless by special authority
from this bank, except for the reimbursement of
such draughts as hereafter drawn on the said office,
by this bank ond its oflices respectively; and to de-
cline receiving for collection any bills or notes pay-
able at New York; or south of New York.
Reohlred, T'hat if the operations of the foregoing
regulations shall not prevent the office from being
the debtor of the banks in Boston, that the directors
of the said office be required to curtail the amount
of bills and notes discounted, until the office shaili
become and remain the creditor of the said banks.
Report ofthe committee, u.hly 20, 1818, i ...'
reduction of' discounts.
At a meeting of the president and directors of
the bank of the United States:
July 20, 1818.
Present, W. .ONES, President,
Messrs. Williams, Savage, Connelly,
Goddard, Price, Sergeant,
Willing, Lippincott, Leiper,
Evans, M'Eue n.
The committee appointed on the 10th instant, to
investigate the state of the bank, and report such
measures as in their opinion, the interest and secu-
rity of the institutionmay require, submit the fol-
!owing partial report, which, with permission, it is
proposed to extend in the progress of their investi-
Upon examination, it appears, that tie whole of
the public money which may be to tile credit of the
treasurer of the United States, between this time
and the 21st of October next, will, in all probability,
be exhausted about -that period, by the current ex-
penditure, and the redemption of a moiety of the
Louisiana debt, which alone, is estimated at up-
wards of five millions of dollars; that a statement of
the debits and credits, existing between the bank of
the United States and the several state banks, in-
cluding the banks of public deposit as far as the
same had been ascertained on the 30th ultimo, ex-
hibits an aggregate balance in favor of the bank of
the United States, of four millions four hundred and
forty-five thousand six hundred and sixty-three dol-
lars a considerable portion of which it is appre-
hended, will remain unliquidated at the period
aforesaid, whilst not only the balances due to other
banks by the bank of the United States, are liable at
any moment to be demanded, and must be paid in
specie; but experience has demonstrated, that even
debtor banks replenish thdir vaults by indirect
means, from those of the bank of the United States;
and that the importation of specie to supply this
vast demand, is not only utterly impracticable, but
even to a limited extent, is exceedingly precarious,
and intolerably expensive, and ought not to be re-
lied upon but in a partial degree, and on particular
Your committee therefore recommend the adop-
tion of the following resolutions:
1. Thatthe reduction of the discounts at this bank,
and its offices at Baltimore, Iichmond, and Norfolk,-
be forthwith commenced, and continued at the ave-
rage rate of at least twelve and an half per cent.
on the amount of the income on each discount day,
until the aggregate reductions shall amount to the
following sums respectively, viz:
At this bank, ,,C o.,00
Baltimore, ', .', ..
And that the directors of the respective offices be
requested to complete the reductions on or before
the first day of November next, if practicable.
2. That the president be required to demand of
the bank of Columbia, at Georgetown, district of
Columbia a satisfactory assurance, that the large
balance which is now, and has long been due from
that bank to this institution, be discharged by equai
instalments in effective money, so that the whole
shall be liquidated by the'15th day of October next.
and that the said bank be requested to return a de-
cisive answer with as little delay as possible.
3. Thalu the cashier of the office at Washington
city, be directed to demand payment of the ba-
lances which may be due to that office by the
other banks in the district of Columbia, and commu-
nicate the result to the cashier of this bank.
4. That the cashier of the office at Cincinnati, be
directed to demand the reduction of the balances
which may be due by tile state banks in that place,
at the rate of at least 20 per cent. per month, until
the whole shall be extinguished: the payment there-
of to be made in specie, or in bills of the banks in
the principal sea port towns, or in approved indivi-
dual bills, endorsed by the debtor bank, and paya-
ble in any of the towns aforesaid, and not having
more than ninety days to run.*
Report qf the committee of directors, October 30t;?,
S1 i., recommendiSn further reductions in discounts.
Iand I. south and -west, eandjil
state bunks, to remit specie.
At a meeting of the president and directors of the
bank of the United States:
Present, W. JONES, President.
Messrs. Connelly, Ralston, Price,
Willing, Bohlen, Evans,
M'Euon, Savage, Goddard;
Coulter, Lippincott, .isle.
The committee on the state of the bank, with re-
ference to their reports of the 20th July, and 28th
August last deem it their duty further to report:
1st. That the reductions of the bills and notes dis-
counted at tile bank and the several offices desig-
'Xote by the committee ofj'. R. The above reso
lutions were adopted by the directors.
14 NILES' REGISTER---FEBRUARY 27, 1819---BANK DOCUMENTS.
nated in the resolution of this board, on the 20th with the heavy responsibilities of the bank on ac-
July last are as follows: count of the foreign portion of the Louisiana debt,
At Philadelphia, 20th July, the amount the extreme delinquency andmagnitude ofthe debts
of discounted notes was $10,424,900 due by many of the state banks,the incessant drain of
26th October, reduced to 7,913,600 specie from the bank and its offices, and the cer-
------ tainty of the continuance and increase of the foreign
Actual reduction 2,511,300 demand, indicated by the unexampled premium
Reduction required by the re- paid atthistimefor specie, which is said to be 0lper
solution of 20th of July 2,000,000 cent. on Spanish dollars, and considerable, though
--- less premium on other coins; your committee are
Theactualexceedstherequired constrained to urge a steady perseverance in the
reduction 511,300 curtailment of the discounts at the bank and its offi-
-- ces, wherever it may be found practicable and use.
At Baltimore, 20th July, discounted 9,080,500 ful; a vigorous enforcement of payment of the debts
26th October, reduced to 7,844,300 due by state banks, and in default thereof, or of a
--- satisfactory arrangement for their gradual and cer-
Actual reduction 1,236,200 tain liquidation; within a reasonable time, to cease
Required reduction 2,000,000 receiving either in payment or on deposit as cash,
-- the notes of every such bank.
Deficiency 763,800 The application of the means which have bee'
provided in London, must depend upon circumstan-
At Richmond, 20th July, amount dis- ces, as Ite bills of the bank cannot be forced into
counted 2,996,500 market, without materially affecting' the exchange,
21st October, reduced to 2,477,400 which it is desirable to avoid, but the committee
------ think it probable that favorable negotiations may be
Actual reduction 519,100 made, for bills in payment of the Louisiana debt,
Requiredreduction 700,000 with the agents of foreign stockholders, and that
the funded debt of the United States, belonging to
Deficiency 180,900 the bank, and now waiting the answer of the secret.
-- tary of the treasury, may be applied to the same
.At Norfolk, 20th July, amountdiscounted 1,420,400 purpose, but they do not see any prospect of nego-
19th October, reduced to 1,253,200 citing the bills on Calcutta, in the only way il
---- -- which they would be useful to sell them, namely:
Actualreduction 167,200 for specie which may have been collected for ex-
Required reduction 300,000 portation, so as not to give rise to new expeditions.
With this xiew of' the resou rces and responsibili-
Deficiency 132,800 ties of the institution, the committee i. .i.i:if1i|;,
Deficiency at Baltimore 763,800 recommend the adoption of the following resolu-
do. Richmond 180,900 tions.
do- Norfolk 132,800 1st. That the president be authorised and request-
ed to order an additional sum of one million and a
1,077,500 half of dollars, in French coin, to be shipped on ac-
That upon investigation of the state bank, they count of the bank, with as little delay as possible,,
find that large funds have been provided, and an ex- for the port of New-York.
tensive credit established in London, by actual 2d. That the branches which have not reduced
funds remitted, and three millions of dollars in the their discounts, as required by the resolution ofthe
five per cent. debt of the United States, pledged in 20th July last be required to complete said reduc-
the hands of the agents there, upon which bills may tions.
be drawn. That a credit has also been established 3. That in addition to the reductions require by
in Calcutta of 1,500,000 sicca rupees, to be used as the resolution of the 20th July last, the following
occasionmayrequire,orrelinquishedwithoutcharge; offices be required to reduce their discounts at the
that the residue of the funded debt of the United average rate of 12 1-2 per cent. each discount day,
States belonging to the bank, amounting to $393, until the aggregate shall amount to the following
049 12, at the prices at which the said debt was sums, viz.
subscribed, has, byorderoftheboard, beenoffered to At Middletown, Connecticut 7100,000.
the secretary of the treasury, with a view to the sale Baltimore, 1,000,000
of the said stock in the market, if he shall decline Washington, 400,000
taking it, which there is reason to believe he will
do. That French coin to the amount of about 1,500,000
850,000 dollars, accordingto advices from the agents
employed by the bank in London and Paris, must 4th. That the office at Charleston be directed to
at this time be on its passage, of which the greater hold, subject to the order ofthe office at Savannah
part may be hourly looked for: that an unlimited Q250,000 (including the 560,000 for which the lat-
order of specie continues open at Jamaica; but that ter, now holds the check of the cashier of this bank,)
the low price of bills, the scarcity of specie at that to ship to this port by the first regular packet,
market,'and the prohibition of'intercourse forbids l150,000 in specie, consigned to the cashier of this
the expectation of aid from that quarter; and that an bank, giving timely advice for insurance; and that
effort has been made, through a respectable agent, the president and directors of the office at Charles-
to negotiate for 3,000,000 of Spanish dollars, deli- ton, be informed, that after the execution of the
verable at Vera Cruz; but without success, as per- foregoing order, it will be expedient to regulate
mission to export the dollars could not be obtained their discounts, according to the circumstances of
by the individualwho held them. the office, and the extraordinary demand for specie,
In comparing the means which have. been pro- which may be expected to prevail during the en-.
vided, and those which are in a train of execution suing season.
NILES' REGISTER-FEBRUARY 27, 1819 -BANK DOCUMENTS. 15
5th. That the offices reciprocally refrain from capital here to commence with, should not be less
drawing on each other, or upon this bank, until than $1,500,000, viz: S800,000 in specie, and 9700-
further orders. 000 in notes of the bank of the United States. They
6th. that the cashier of this bank he authorised make no account on funded debt, as they do not
and required to draw upon the cashiers of the follow- perceive how that can be applied to the branch as
ing named offices respectively, for the annexed active capital.
sums in specie, and direct the same to be forwarded In taking a view of the revenue, they are led to
in the most secure aud expeditious manner to this believe, that the amount now standing to tthe credit
bank, viz: of the government in the banks here, exceeds three
The office at Richmond in specie, or millions of dollars, and that the average amount
bills at sight on this city, New-York 50,000 hereafterin deposit may be about $1,500,000, which
or Bostun. if collected and received by the branch, we might
The office at Lexington in specie, 100,000 calcule on the use of one million in discounts,
Luisville, 100,U00 &c. this added to the amonut of $1,500,000 as de-
Cincinat i, 5.0,UU00 sired, would make up the sum of -~,, ;.,,,., which
itItsturg 1 0'00 might be considered as active capital. But, from the
Chillicotlhe 1o,000 contents of a circular from the treasury department,
Fayetteville, 100,000 under date of the 20th inst. which has been addres-
S.'.. sed to the state banks here, and of which you have
S' no doubt a copy, no account can at present be made
th. That the cashiers of all te oces o this by the branch bank here, fbr any portion of the reve-
S the cashiers anue, untilafter the first day of July next, hence it re-
bank be instructed to receive in payment, and on sults that the branch bank here cannot safely ope-
deposit as cash only, such bank notes as are actually rate but on the capital actually received from the
paid in specie on demand,-v within such distance as mother bank, including the amount of specie to
shallhave no doubt of the fact at the time of receiv- be received from the commissioners who have
uig any such notes, and not to credit as cash the notes the subscriptions, and who are to receive h
of any bank which shall remain indebted to this in- secnd instaons and who, aref p ecei pr lyh
stitution after payment shall have been demanded. sound inst ent, which, paid, wil pobj ly
S8th. That when the banks at Cincinnatishall have- to mke up the will of coue he to
made arrangements wit the cashier of this bank for to ed upther in suc wilne of courseri ase to e
the payment of their respective debts, the cashier p.ied for in such mannerr and period, as the
Tthe office at Cinchinati may receive the notes of circumstances of the bank, and that of the country,
Swill render most convenient.
any such bank as cash, provided the said banks
shall thereafter pay its notes in specie on demand* I have the honor to be, most respectfully, sir,
RBCAPITULATION: Your obedient servant,
Of the means comprehended in this report, exclu- (Signed) JOHN JACOB ASTOR,
sive of the funds in Lonon and Calcutta, of1 what Pres't, ofthe Of ce dis. Z& Depjr
may be received from the debtor banks, and of the f;illiam J unes, Esq.
accumulation of the public deposits arising from the P'esident of the bank of U. States.
duties and tonnage, viz:
Specie expected soon to arrive, 850,000 Opinion of conl, and r :.. -...'... ,
Deficiencies in the reductions requir- 1,0 ,500 of stoc. which had ot beenily pa id u p.
ed by the resolution of 20 July,y pad up.
Additional reduction at tie offices, as At a meeting of the president and directors &
Additiorecommended,uction e o 1,500,000 the bank oftlhe United States:
lFnuded debt of the U. States to be sold, 400,000 January 24th, 1817,
Additional reduction of discounts at 1,000,000 Present, W. Jon Sav predihert.
this bank, suppose Messrs. Ralston Savage Fisher
Specie from Charleston, 150,000 Willing Eyre
as designated, 550000 Lciper Price Connell-
Specie to be ordered from Europe,
(Signed) W. JONES,
THOSE. M. WILLING.
Bank of the United States, Oct. 30, 1818.
a-nswer given by the president ofJ ew York branch, as
to amount ofspecie required,
.Aewu York, 28th December, 1816.
Sin-I had the honor to receive your letter, with
a copy of the resolution passed by the board of
directors of the bank, on the 16th inst. which I have
in compliance with your request, submitted to the
board of directors for their consideration; the re-
sult of which is, that they deem it desirable that the
"The above resolutions were adopted.
The president informed the board, that he bhna
in pursuance of the resolution passed at the Last
meeting, submitted the h:. ;,i, .. 1,e .r i, ...i r, ..iO.
sel, and lad-received 'an --...... '. ,,h a f. ,rn, c.i'
certificate of stock, which were ordered to be en-
tered on the minutes; viz.
Ist: Is it obligatory upon the corporation to pro-,
vide for the transfer of stock of the bank, prior, to
the completion ofthe shares.
2d. If it is obligatory, and the bank shall have
pro-ided for the transfers accordingly, has the board
of directors the lawful authority to withhold the
transfer ofa certificate ofstock, on which a partial
payment shall have been made, when a subsequent
payment shall be due and unpaid.
3d. Ifthe respective instalments shall not be paid
at the time prescribed by law, has not the board of
directors the lawful authority to demand the inter-
est thereon, from that time, until the day of actual
4th. If the authority of the board shall, in your
16 NILES' REGISTER -FEBRUARY 27, 1819-BANK DOCUMENT I'.
opinion, le incompetent to the end proposed in the
foregoing questions, is there any other adequate
expedient, within the lawful authority of the board?
Philadelphia, Jantuaory 22d, 1817.
Si -We have given to tile questions proposed in
your letter of yesterday (received this day) all tihe
Consideration the limited time would admit, andn we
beg you to inform tlhe board, that during Mr. Ser-
geant's absence, we shall, at all times, be ready to
confirm tie reference which he has made to us, in the
letter of which you have furnished us an extract.
In.answer to the first, we are of opinion, that there
is no ..11;n.- :.... on the part of the bank, to provide
for the transfer of the stock, prior to the completion
of the shares; but it is in their power to provide for
such transfer, in the manner, and under the condi-
tions they may deem expedient, and we aretherefore
of opinion, that the board mlay adopt a form of trans-
fer, which will confine transfers to such shares only,
as are not in default for any installment. We take
the liberty of handing herewith, such a form.
The second question has already been answered.
In answer to the third question, we are of opinion,
that the boardhias not the authority to demand inte-
rest upon iiistalmenl s in arrear. On this question we
wish to be understood, as expressing our present
opiiiou, which a further consideration mav alter.
In answer to the fourth question, we, have already
suggestedthe only arrangements which occurs to us,
for promoting the punctual payment of the instal-
ments, viz. depriving the shareholders of the benefit
of transferring any siare in default.
We are, very respectfully, sir, your obdt. serv'ts.
(Signed) OS. REED,
Win. AJones, Esquire, president bank ,'e ited ,States.
A"o. BanIkof t'le Unixed States ofAlsnerica.
This is to certify that
2d installment due is entitled to share in the capital
ist July, 1S17. stock of the bank of the United, trans-
ferable at the said bank, by the said
subject nevertheless to the third pay-
melit, to come due thereon, accord-
r.TlrT,.-'i- .i...i.- ;,, ,o the terms prescribed by the
'1 1 ."".. ', h 'iruter of the said bank; in defttalt
whereof, atthe.time, and in the man-
her prescribed by the said charter,
then such share shall cease to be
transferable until said payment be
Witness the seal of the President,
directors and company of the bank of
the United, States, at Philadelphia,
the day ot 18
The question submitted to counsel, and theiiropi-
niion thereon, in respect to the transfer of stock of
the bank, upon which the respective installments
which may be due, shall not have been paid at the
time of any such application to transfer, being under
On motion, resolved, that the officers of the bank
be instructed to confine the transfers of the stock of
this bank, to such shares only as are not in default
for any installment.
.Anathain Sitih's cashier, letter to r re-
''- ":- notes of he bank ojf'the U-iited Stales, re-
BANK UNITED STATES, Dec. 14, 1818.
Dtsr SmR-The committee of inquiry wish to as-
certain the amount of the notes of the corporation
payable at this bank and its offices of discount and
deposit severally, which have been received at the
office at Boston on account of the public revenue;
also, the amount of debentures, and the manner in
which they have been paid.
If the data in your office will enable you to furnish
the informationrequired, you will give it retrospec-
tively to the commencement of your operations, or
as far back as the discrimination may be practicable.
I am, with respect, your obedicnt servant.
(Signed) JONA. SMITTH Cashier.
Samum el 'rothinglham, Esq. cashier Boston.
List of notes of the bank of the United States received,
for duties sc.
OFEICI OFr IISCOU'iN AN I) u;osIrT
Boston, Dec. 19th, 1818.
DEAlt Sr-In reply to your tfaor of the 14th
ilst. which I received yesterday I have the honor to
state that this office comnmenced the collection of
thle public revenue, on ie 6thl February, 1817, and
ifrom that date, to the .1.3th March : li. .,. receiv-
ed on -account thereof,
In notes of the bank of the U. States, $135,320 05
Do. Baltimore office 22,800
Paid in debentures to the last date 108,598 27
On the 13th March, 1817, we commenced receiv-
in in deposit as cash, and paing promiscuously
with the notes of this office; the notes of the bank,
and several branches, and continued with a 1t ii.i.
intermission, until the 19th March, 1818; during
this time, we have no data, by which to distinguish
the amount received for the revenue.
Debentures paid during this time, '- ."7 57
The amount of notes of the bank i United
States and several offices, received in payment ofthe
revenue at this office, fi-om the 19tl March 1818, to
this day, is 51,372,474 14, as follows, viz:
Notes of the bank of United States 14
Office at Baltimore -
New York 156,16
lfichmond 4- 4,150
Charleston ,- 36,9i0
New Orleans 10,960
( ,. 1,650
Providence -- 72,140
Debentures paid from the 19th of March last, to
this day, --, 1 '.' 96.
The debentures have principally been appropri-
ated in part payment of the duties.
When payment of the debenture has been requir-
ed, the bond for duties having been previously dis-
charged, during the time that the notes of the other
offices were received at this as cash, such deben-
tures have been paid in these notes which werere-
sponded for in specie at this police, iFrequired, 'and
the notes of this office. Since that period, such-
debentures have been paid in the notes of this of-
Iam, with much respect, your most obedient ser-,
(,; ...i', SAM'L. PItOTIINGHAM, Cash'r.
Jon1, .., Esq. cash'r of the bank U. S.
NILES' REGISTER---FEBRUARY97, 1819---BANK DOCUMENTS. 1i
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Genelra statement of the bank of the U. States and its offices of discount and deposit, at the dates specified therein.
prrsonel 1n funded
discounted Due from Due from estate
on bank offices bank state banks, and Expenses.
stock. U. States. pernn't.
8 1,120,870 77
.6 696,290 80
26,'89,992 12 302.794 78 9,934,712 94 39,377,929 80
1,258,279 88 397,648 35 31,855 94
6,000 6. 6457 30
13,106 70 2,203 10
9,979 75 1,370 55
210,269 84 11,315 24
133,564 39 20,409 72 7,608 65
36,379 44 14,977 67 1,979 96
164,620 37 32,955 09 8,008 02
37,956 76 22,508 3,955 21
62,773 11 5,313 62
59,809 44 32,901 89 7,582 32
'11,692 75 6,537 02
266,641 83 5,102 92
60,362 36 3,031 92
105,931 3,568 42
779,720 10 5,278 21
555,481 44 3,745 12
65,000 14,123 13 5,344 93
1,337,569 21.635,515 85 121,541 07
bank U. S.
102,32 7 175,210 70--- -
) 65.330 72
1 26,714 87
1 63,477 18
5 51,511 03
9 201,796 97
I 182,549 97
" 289,067 55
1 91,672 64
6,799,244 16 5,904,304 42 2,039,001 58 2,389,626 28 54,976 40 1,063,907 49 40,446,142 14 673,884 82 1,385,190 63 3,064,162 95
ank, branch. and post notes issued 12,730,000 Fnnded debt ...... 7,393,049 12 Capital stockan -- -
Ditto on hand 6,799,241 16 Bills discounted, iz: 'Bank, hbraielt, and post notes -
-on personaslsecurity 26,989,92 212 Dividends unclaimed
In circulation 5,930,755 84 on funded debt and do. 302,794 78 Discount,exchange,and interest, received
st notes issued .. .. 7,259,618 07 on bank stock and do.- ,934,712 94 Prolit and loss ..
itto on hand .5,904,304 4 -- 36,227,499 04 Bsonls .-
ito- Foreign bills of exchange -. 44529 63 Due to bank S. and offices of dise'nt 8 deposit
In cireutation 1,355,313 65 Due from offices ...... 39,377,929 0 State banks .. ...
'- Ditto for tie useof the treas. U. Sto es 1,333,718 4 *Trlbret & Co. and T. Wilsoa & Co.
Total circulation 7,286.069 9 --- 40,711,648 25 Deposites on account of
Due from state banks ... 4,337569 21 'l'reasurer U. States 4,684,684
*Ditto aor use treasury of United States 118,91820 Collectors and ether publicofficeers 1,395,190
-- 4,456,487 4] Individuala 3,064,162
Real estate and permanent expenses 535,515 85
Expenses .. 121,541 07
Cash. vi l
Notes bank U. States payable to hearer Fe." 9 16,
Note.-The 3-. ir, ", a '-" ;..,.r,his .l .",, t.ijl I in tllis statement. do., post ...... 42
ies not inelode th ...',. .: I. ir hius Favorite and do. othrbanks -.. 2 9,001 58
elle, (350.800 dollars.) the amounts being placed to the credit of the Specie .... 2,389. 2 28
ink of the United States,.on the hooks of tle office at New York, sub- 17,132,176 44
quent to the date of the "State of tie Office," included in this state. 107,C02. 417 6'
ent. Ban f the United States, .December 1,1818. JONA. SMI'TrH, -ashier
[(TlThere is a column in the table for each of the items marked --but they are sufficiently plain in the recapitulation, and we could not possibly get the columns into our page.-Erd. Reg.]
- 9,134,038 14
I., I .,* j 08
1,,' 11 77
1,-. V.r 07
Due bank U. Due to c
States and state
offices, banks. pi
940.546 21 36,323 45
686,42245 8,3.75 57
551,184 89 1,516 02
2,817,695 96 38,702 80
8,532,397 40 49,726 58
1,657.873 67 51,021 76
3,51L,407 78 44,685 06
1,549,339 46 68,186 05
878,660 44 25,642 43
3,755,830 20 24,386 37
1,474,772 62 104,019 53
2,535,390 95 1,953 67
1,787,821 58 41,777 33
1,383,613 21 38 35
3,175,827 95 5.567 55
3,046,545 90 30,977
--- ----- ---I
- ---' -~ ----
192 940 02
NILES' REGISTER--FEBRUARY 27, 1819---PANK DOCUMENT '! TS. 21
PROFIT AND LOSS STATEMENT.
The Debtor side consists of a number of items, which we consolidate, to save room, as they are ap'
parently of no general importance to a full understanding of the subject-
Permanent expenses-at the bank from 1st Jan. to 30th June, 1818 and at the offices from
1st Jan. to 30th May 11,876 4S
Current expenses, at the bank-from 1st Jan. to 30th June, 6 mo. 41,161 70
do. do. at the several offices, from 1st Jan. to 30th May, 1818-the highest at
Baltimore, 516,144 50, and at New York nearly as much; the lowest at Fayetteville,
2,084; at Boston only 2,835 55, &c. -130,170 89
Sundry losses -- 1.689 89
For Bonus 45,000 00
Expenses of importing specie -. -86,250 57
3rd dividend-at 3 per cent.- 1,225,00& 00
BALACa --. - 91,151 37
c; ,' 2,'1) 85
The Creditor side is thus stated, and given in detail that a general idea may be formed of the business
transacted at the several offices, &c.
Balance per general ledger -
'Discount received at bank United States, to this day -
Exchange do. do. do.
Interest received on funded debt -
do. from banks, &c. -
Discount received at office, Portsmouth, to 30th May
Exchange do. -
Discount Providence -
Do. Middletown -
Do. New York -
Exchange do. -
Interest do .
Discount Baltimore -
Exchange do. -
Discount Washington -
Interest do. -
Do. ayetteville -
Discount Charleston -
Discount. Lexington -
Interest do. -
Discount Louisville -
Exchange do. -
Discount Chillicothe -
Exchange do. -
Interest do. -
Discount New Orleans -
Exchange do. -
Discount Pittsburg -
Bank of the United States, July 6, 1818.
S 9,964 38
- 8347,138 26
65--226,314 19-577,456 76
177 45---28,694 63
1,551 20---69,043 24
S754 92--312,295 09
S 18,418 85---60,845 57
6 40,462 74
-- 548 51---12,869 17
20,283 60---43,850 71
S 40,860 20
3,527 09---70,931 06
7,861 12---27,756 67
S 10,627 34
S 4,3322 84
1,035 48---15,995 66
S 46,080 61
14,-68 77---70,655 82
- 12,317 64---46,918 92
S 3,105 63---22,112 07
( There are several other tables annexed-but, from a careful examination of them, we cannot see
that they can be useful to the public at large, and are omtted. We thus conclude the series of papers
and documents accompanying the most laborious report of the committee.
.22 NILES' TIZIEG '1ER..-FEBfIfLARTY 2, H!ic9--- lIAEMU.>. COINS.
On Foreign Coins.
Treasury department, 6th January, 1819.
Szn-In reply to your letter, enclosing a resolu-
tion of the senate, directing the committee of finance
"to tnqu e into the expediency of continuing n
force the act of the 29th of April, 1816, regulating
the currency of certain foreign coins within the
United States," I have the honor to state, that it is
inexpedient to continue the seidactso far as foreign
gold is rendered current in the United States. From
the enclosed letterfroan the director of the mint, it
is manifest, that the .foreign gold coins now in the
United States, which are current according to the
provisions of the said act, may be recoined before
its expiration. Until the capacity of the mint shall
be increased, it is believed that the public interest
requires that the said act, so far as it renders foreign
silver coins current, should be continued.
It is believed, however, that foreign silver coins
should not be continued current after the capacity
of the mint shall be so increased as to remove the
inconvenience which might result from the tempo-
rary exportation of the gold and silver coins of the
United States. According to the communication
from the director of the mint, about three millions of
dollars, in silver, can be coined in one year. If this
capacity should be doubled, the repeal of the law
aiaking foreign silver coins current, might be effect-
ed with safety, as soon as an opportunity should be
afforded by such augumentation in the powers of the
mint, to the holders of such foreign coins to have
As Spanish milled dollars compose the great mass
of foreign silver coins which circulate inthe.United
States, and generally command a premium when.
compared with the dollar of the United States, es-
pecially for exportation to China, it is desirable that
they should cease to be a tender as soon as the caps -
city ofthe mint shall be increased so.as to recoin such
part nf the I, ii n'mill..I dollars, imported into the
UnIted .tar .. -i- rn.i be iBecessary for domestic pur-
The holders of this foreign coin, whether mdivi-
duals or corporations, may then demand for it such
price as will indemnify them for the expense of im-
portation. Considering that the Spanish dcl.l i, in
the United States, is more an article of commerce
than a standard by which to ascertain the value of
other articles; that its value at the same time, in dif-
ferent parts of tl\ union,.varies from par to ten per
cent. it is conceived tliat the public interest requires
that it should cease to be a legal tender as soon as
an extensive and prompt rccoinage shallbe provided
I have the'honor to be, your most obedient serv't.
SWM. H. CRAWFORD.
Iiimorable John W. EBppses,
Chairman of the committee offinance.
Mint of the U. States, Dec. 28th, 1818.
i-BH, ii,,,." ,.. .i'.1 the other officers of.the
amr. and d,: tl.ialc c.'.ri dered the subject of the
queries which I have had the honor of receiving in
your letter of the 16th, I shall now attempt their an-
swer, without, however, vouching for any very great
degree of accuracy.
Query 1st. "What number of eagles and half
eagles can the mint, in its present situation, coin per
Answer. With the aid ofa newfoundery and refin-
ing furnace, which are now nearly completed, the
mint, in its present situation, and coining gold with-
out silver, would be able to prepare and strike about
7,000 pieces per day, or 35,000 per week, reckoning
only five working days in the week, to allow for una-
voidable accidents and interruptions.
Query 2d. "What number of dollars?" 3d. "What
number of half doUlars?" 4th. "What number of
twenty, ten, and five cent pieces?"
Answer. Making silver, without gold, the weekly
coinage in dollars may be rated at about 60,000; in
half dollars 85,000; and in smaller coins, 100,000
pieces respectively. And beyond this, which would
be fully double of the last year's coinage, the opera,
tion ofthemintcould notbe much extended, without
erecting naewbuilding, with some additional appa.
ratus; forin our pres:iut situation, we are very much
limited for want of room, having to rent two small
lots for our necessary accommodation.
On the above estimate itmaybe property remark,
1. That, in order to be constantly employed, depo-
sites, whether of gold or silver, equal, at least, to two
weeks coinage, should always be in advance. 2.
The copper coinage is considered as continuing in
constant operation, striking at least 100,000 cents
per week. .3. To effect the coinage above stated,
there would be wanted an appropriation for addi.
tional workmen, wastage, and sundry incidental ex-
penses, of about 58000, in addition to the estimate
lately transmitted from the mintto the treasury de-
Query 5th. cWhat additional expense would it
require to coin double or quadruple the number of
silver coins which can be coined in the present situa-
tion of the mint?"
Answer. As far as respects a double coinage, the
answer is attempted in the foregoing queries: and for
further extension, as before observed, a new build-
ingwouldbe required. From the nearest estimate,
which present circumstances will enable us to make,
it is believed, that the expenses for the purchase of
a lot, and erecting a suitable building, with such ad-
ditional apparatus as might be necessary, would
amount to about $25,000; and that, from the time
of its commencement, it might be finished in about
12 months. The coinage, in the mean time, being
carried on at the present establishment. The lot
and building at present occupied by the mint, would
probably bring from 12 to 15,000 dollars.
Query 6th. "Have you any particular information
of the relative value of gold and silver during the
present year, in France and England? Has the late
coinage in Emug.ind raised the relative value of those
SAnswer. In reply to the above, I ,- .... .. ,- ." I
to refer vou to the enclosed copy of :,, .., i.1. i
say, taken from a London paper of the 22d of April
last, in which the subject is treated with great per-
spicuity, and to which I have little to add. The state-
ment of facts, however, given in this essay, corro-
borates an observation which I had the honor to
make during the last session of congress to Mr.
Lowndes, then chairman of the committee of ways
and means, in reply to a question which at that time
he was pleased to propose, which I here transcribe.
Query 7th. "Are any amendments in the laws of
the United States necessary to secure the coinage
of a more considerable quantity ofgoldtlian has here-
tofore been annually coined at the mint?"
Answer.-Nothing occurs to me as adequate to
this effect, except increasing the value of gold re-
latively to that of silver, so that the ratio of'the'one
to the other, may be somewhat greater tl-an in any
part of Europe. According to the standard in the
United States, this ratio inthe pure metals is as 15 to
1, In some parts of Europe it is as 16 to L, which I
NILES5 REGISTER---FEBRUARY 27, 1819---FOREIGN COINS. l
believe is at present the maximum. Though, as the all other duties on coinage, were in effect abolish-
coin of no one country in Europe area legal tender ed, or rendered ineffectual. In the time of queen
in any other, gold and silver, whether in coins or Elizabeth, and until the 43d year of her reig-, 60
bullion, become an article of commerce, and theirre- shillings, each weighing 4 dwts. equal to 96 grs.
native value is continually varying, according to cir- were cut out of a potmd of silver bullion. In the
cumstances. Considering the expense of the impor- 43d year of the reign of that princess, 62 shillings
nation of gold into the United States, I should think were cut out of a pound of silver bullion; and the
that our government would be justifiable an adding weight of each shilling consequently diminished
10 per cent. to the present relative value of gold. from 96 grs, to 92.857; at which rate it has conti-
'This would hold out a powerful and effectual motive nued unl! the late alteration, say as 63 shillings are
for the importation of gold into the United State s, to 5,760 grs. (the number ofgrains inatroy pound,)
and at the same time be a powerful barrier against so are 21 shillingsto 1,950, the number of grains in
its exportation. All the difficulties arising from the 21 shillings of the old standard. A gain, 1,950 grains
American gold coins nowdin circulation might be divided by 129.5, (the number ofgrains of gold in
readily obviated, either by calling them in forre- a guinea,) gives for a quotient 15.059.
coinage, or suffering them to pass at the increased The proportion of standard silver to standard
value. gold, in point of value,supposing the wein -'- eqrii..
Presuming that it would not be unacceptable, I is nearly as-15.059 to 1. But now, when o, ilhllinigs
have enclosed a description, with the impressions are cut ott ofapotudofsilver, and only :1 of thlce
and qualities, of sundry species of silver dollars from given for a guinea, the proportion is altered; the
South America, which have from time to time been shilling, which before weighed, of standard silver,
brought to the mint, as deposits. The whole amount 9 g'rs. and 857 decimal parts, is now reduced to 87
of such deposits, during the last year, is but little grains and 2.292 decimal parts, or 5 1-4 grains less
short ofhalfa million of dollars. than the old standard; in .sh l;ii- to 2
I have the honor to be, &c. farthings and 7.138 dc:;-..l, ot l1r, r., r near-
ROBERT PATTERSON. ly 3-4 of a penny, wcr.c. I ISI u .li J .l.Sidid coin.
P. S. I have also enclosed, from the Assaycr of the age.
mint, a statementof the weight and quality ofsundry Thisdefalcation ofv .i -i ion t r 1 :hili;igs
silver coins from different parts of Europe, and to 110 grains and 25.1 .-; ,1 'r, [,-,j|i '.d,,
which may probably be acceptable. to Is. 2d. and 9.189 decimal parts, or s. '2d 1-4
nearly, which, in large sums, makes a considerable
From a Lonmdon paper qf .April 22d 1818. difference, being 118&. 75 decimal parts per cent.
The large quantity of gold pieces whichhavelately short of he old value of gold, compared with silver.
been coined, .and their almost immediate disap- This reduces the proportion which gold and s;h cr
pearance from circulation, is a subject of surprise bear to one another, from 15.059 to 14.121 to 1; or,
and material concern to the people at large. as was before observed, nearly 6 per cent. which is
Sonie have.ascribed this to the difference of ex- the sum that might be gained, and probably is gain-
* change between this country and the rest of'Europe; ed, by buying up the gold coin, (no matter whether
Sbut this disappearance of the coln did not take police I guineas or sovereigns,) with the diminisl.vil -T_ .:
Sto any considerable degree, when the. exchange was coin, andpurchasing, witli'thl: *.... .'o;nr *n IbLt i
confessedly against us, and much less could the dif- ed, .sier bullion in 'rance, lolanl, or Germany,
fcrence of exchange produce any such effect at pre- r b i r or
sent, when itis evidently in our four. Iu, in all Ifthis statement incorrectt,)' does not account for
probability, the cause of this deficiency of gold coin tie disappearance of the gold coin, I am at a loss
in circulation lies nearer home, and consists in the t sa. w t othc cause more adequate can be as-
.proportion which has lately been established be- signed.
tween the gold and silver coin, considered as bul- P. S. The proportion of silver to gold,:in the
Slion. 'To explain this, it isnecessary to advert alit- French coin, is as follows:
tie to the properties belongingto coined money. The six franc piece (in silver)- of Louis XV,
Coin may be considered in two lights: 1st. As a weighs 18d.wts. 12 rs. equal to 414 grs. thesemul-
sign of value, and again, (which is the most impor- tiplied by 8, produce 3,552 grs. "I Il. .,o,.ile Louis
tint'consideration) as a deposit of equal intrinsic d'or (gold) weighs 9 dwts. 23 grs. equal in weight
value with the suin it professes to represent. The to 236 grs. an.: is estimated to be 8 six franc pieces
worth, as Mr. Leake observes, is the intrinsic value in value. 'Now, 3,552 divided by 2,grs. as quotient
which makes it the measure ofall other things.- 15.053, which is nearly in the proportion ofl5 to 1.
That the coin should possess this degree of intrinsic scarcely differing from the proportion of silver to
value, was secured by two acts of parliament, one of gold in tle former Englisfh coinage. Again the 5
the 18th, and the other of tie 25th of Charles 2d, franc : ..f..-. .. N p ..i.:., (silver) weighs 16 dwts.
which enact, "That every person bringing any fo- 2 grs. equal in weight to 386 grs. This, multiplied
reign coin orbullion to the mint, to be coined, should by 8, produces 3,088 grs. The forty franc piece
have thle same assayed and melted down, without of Bonaparte (gold) valued at 8 five franc pieces,
any charge or defalcationi and for every pound troy weighs 8 dwvts. 7 grs. equal to 199, grs. Now, 3,088
'of crown gold or sterling silver, should receive the divided by 199, gives 15.517 to.1,.,i thi pr.ior:i in
li'ie c;in in coined money of crown or standard silverbears to gold, which estimated, tI.,- oCi nhIIh-
guls,. .:.f sterling or standard silver; and, 2.! If er in proportion to silver than in the former coin-
;Ihe biillo1 so brought was filer or coarser than age.
crown gold or standard silver, so much more or Let ua now examine the coinages of Holland,
lc:. 1.,,1.l1 b: :11 ...I. -i .. b. tter or worse, and the proportion which gold and silver bear to
an.d vitho ry c i.o ) .;- ol' .. 'i u,, c. i. ir without any to one another, in the money of that country.
i !'. ~si.: i : .;,. .. .And, to defray The 3 guilder piece of Hollanld, (.;i. u .. '. s .
,ln: cll~.-!S r lltT I i.t .L.,t g C -, ,I duty was laid oz. 14 grs. equal 4''1 i of course, 14 gu;iders
on wines, &Cc." must weigh, or be equal to 2,305 grs. of silver. The
It appears from this act, "which was continued by Ruydu, or 14 guilder pIeces, (gold) weighs 6 dwt.
the succeeding princes," that the seigneuiag.e and 8 grs. equal to 152 gri. Now, 2,305 divided by, 15T.
24 "NILES' rEG ISTER---FEBRUARY 27, 1819---CUMIlBEnLAND ROAD, &c,
<..i ,' .I.ro.1 a lIhe iroprtir ion ..i'hlI eai er ',, 'l'h:- ,n'] OrI"t .11,j '.a n fItr ii,..,:ir. i= ,i tull,:".vs
L(l'l1, in the Dutch coin, bear to one another For 1814 1,006 92
The geometrical mean of these calculations, is 1815, 2,000 54
15.2451; the arithmetical mean is somewhat higher, 1816, 2,002 11
being 15.2655. Either ofthese, .comparedwith the 1817, 3,227 41-7,636 98
proportions formed in the late coinage of this coun- Which added to 589,522 22
try, will sufficiently account for the gold coin being Will make the whole cost of this part-
either exported or melted down at home. The ad- rf the road, including the repairs $597,169 20
vantage of c..- a-,.r ;.r.;-<1-, r..c;', ;,' iv-ious, where I! ,-. statement made by Mr. Thomson, superin-
the counter'.. t niolt c.'to'. ri.. t... quantity of tendant for the western division of the read, exhi-
silver of the same degree of purity as the current bits the following result, which he says is as correct
money of the realm, and yc' .,r. .l1 an adequate ad- as he is able to make it, in the present rough state
vantage to those who counterfeitit. O.C. of the work:
'1 1.: i.: .1!.o.1.: ..ir nc.: it exhibits the g'.oss weight The distance contracted for is 36 miles, and 21S
an I 1'eg. :' ol' n-i..: ; l 'i a variety offorcign coins,. poles:
which have occasionally been brought to the mint Amt. agreeable to contract 616,534 62 1-2
oftheUnited States, mostly obtained from experi- Work aonc, has cost, ,275,445
ments made on single pieces; and, it isbelieved, may Will cost to finish 341,119 62
be considered as nearly correct, so far as relates to Bill drawn in payments 218,874 60
the piece under trial; yctperhaps, in all cases, itmay Take the amount as stated, agreeable to con-
notbe sufficiently accurate to estimate with preci- tract, 616,564 dollars, and divide it by 36, makes the
sion their respective national standards. The officers cost ofthe last 38 miles, a little more, than seventeen
of the mint are more conversant with the French thousand one hundred and twenty six dollars per mile.
and Spanish coins. The modern gold and silver The probable cost of the whole road, from Cum-
coins of France, commencing with the Bonapartean berland, in Maryland, to Wheeling, in Virginia,
system, and denominated francs, contain nine parts something exceeding 96 miles, when completed, is
pure metal, and one part alloy; anc'the same stand- estimated at one million six hundred and sixt thoui-
ard, as well as denomination, appears to I" ..i. i .id sand dollars, including 60,000 dollars for the Monon-
to by the present government with great exactness. gahela bridge; of which four hundred and fifty
Although the same uniformity of standards is not ob- thousand dollars is the amount estimated yet to be
servdble in the gold and silver coins of Spain, yet, contracted for, and the probable cost ofthe road
as the average quality of their dollar approximates made and contracted for, is stated at one million
., near to these of France, it may not be unsafe to two hundred and six thousand dollars.-Sixty miles
.-...,c. .I. their legal standard for dollars, and parts of the road is completed.
of dollars, is the same. The secretary.of the treasury, in submitting the
Gross weight. deg. of fineness. statements to the house of :-.: I. by .. :, .. .by
H.,.nd I.:r. guir ds. girs. oz. 0 dw t.grs1 comparing then, it will bc .-,: il.t i i l,. son
R, I "llr Dr.. D.i -.....k. s1 14 10 11 o work east and west of the Monongahela are ex-
A.,,iA, ri.,t -. T heresa) -is 0 1 a 2 0 tremely different. This difference has been point-
l' ,s a I Iil la 11t : 19 0 I0 10 0
,r.... F Ii.) 19 o o 10 o ed out to the superintendent of the western part
i,. i.... 1.1 h.a,id, 1 11 5 of the road, and he believes a considerable saving
A S0 Ketzr piee, 4 4 6 9 o8 will be effected upon the estimate which the su-
A Russian Ruble, 13 8 10 9 0 Revub.
Crown piece of Portugal, 9 9 .10 l7 12 perintendanthas furnished. Greensburgh Repub.
Switzerland piece, 40 Baty (Canton
Sof Zlrich) 18 21 10 12 6
of Luzerne) 20 10 16 6 Philadelphia Bills of Mortality.
Barcelona piece (5 pesetas) 17 6 0l 16 o The whole amount of deaths in the city and Ii-
.,, 3, ilre t-.:.n.- d. ii..I 13 17 0 berties of Philadelphia for the entire year of 1818,
PONrlULU. L, Io -" 17 10 10 16 0
rhili ditto 17 6 o10 7 6 was 2765. Greatest number in July, 321; least in
ProvineeRiodealaPlta, do. 17 7 10 15 12 December, 196-greatest of adults in January, 163;
ri "the United SateJOSEPHR-ICIARSON, Assayer. least in October, 95. Greatest of children in July,
;. f the 12th month, 1818. 178; least in Noveinber, 59.
Of those-who died, 628 were under 1 year; 332 from
1 to'5; 68 from 5 to 10; 35 from 10 to 15; 39 from
Cumberland Road. 15 to 20; 370 from 20 to 30; 416 fiom 30 to 40; 316-
The -Cu.-.1.:- !.id i...J" l;; ,,, .. ';i,1 -cm.: at- from 40 to 50; 187 from 50 to 60, 138from 60 to70;
tention in dli. i-: 1 -ir '.A 1l.. .. ,., 1,.1 i -.:,. ral 90 from 70 to 80; 67 from 80 to 90; 24 from 90 to
Ip.t'i;n. .l Ii-l to' it, bi.,g recently presented to 100; 5 from 100 to 110.
Lle 1i-', I ,,re .,i Pcrp-n. I ania, we are inducedto Diseases-Consumption396; cholera morbus 203;
I rh, IhI.llow ine-belfr.i.: r readers: convulsions 141; fever-typhus 311,-other fevers
Fr.:Ln :i : r rei..nt I i.efore congress by Mr. 181; dropsy 99; do. in the head 67; do. in the breast
Shriver, superintendent for the eastern division of 5; still born 156; debility 89; atrophy 46; appolexy
the road, extending from Cumberland, in Maryland, 40; hives 48; various inflamations 170; old age 65;
to Unionto-ri n. in, Pciii-l..l .il... 1 d-,: ..it ii ,i one pleurisy 25; palsy 37; small pox (natural) 8; &c.
t..sdt iT'l- thi:',: i,,s b I -, r ..i t .11 t' i :ii Ihe i resa-., i. The population is supposed to amount to 120,000,
except for repairs, $500,773 22
The sum yet wanting to complete 88,750 Porcelain. The manufacture of China ware, or
the road to Uniontown 5 porcelain, equal in firmness to the French, has been
-- commenced in New-York. At the monthly meet.
Divide this sum by 60 1-2 589,51'2 1..-;,.,' in; H:s'crical society, a few days ago, sam.
shows the road to cost about g9,744 21 per irile. pl. ..'1 I.. articles prepared by Mr. Mead, from do-
.'!.,'l'1.r.g : I Ly expense,. On this route are several mestic materials, were presented for inspection.
bridges, two ofwhich are said to be the largest in Their forms, th.-i; ,:or1iT;i,;n, th,.h ,ii .(imellinig
tihe United States. and ec i.i .. -,.: ui :.. 1.,t -...:- .