The Republican ledger — Portsmouth, N.H., 1801-01-13 00:00:00, page 3

To the Citizens of New- HampJbire,
No event, perhaps, has ever pre
sented itfelf to public view in this
State since the establishment of our
present form of government, which
in its consequences has led to mea
sures so fruitful in developing the
, felfilh and oppressive disposition of
the human heart as the institution,
of the NEW-HAMPSHIRE
UNION BANK ; to pass over
in silence the remarkable proceed
ings either of a public or pri
vate nature, to which it has giv
,en'rife ; to suppress a manly in
dignation at tnat spirit of avarice
and revenge which would deprive
us of our property and our rights
would betray a cowardly submis
sion, degrading to the character
of a freeborn American :—With
plainness, therefore, and unembel
lished truth, I-shall attempt to lay
before the public a brief narrative
of fa&s, with such observations
from time to time as may arjfe from
the fubje&, that my fellow citizens
may realize by what tenure they
hold their most invaluable privi
leges, how easy it is for the passions
of men.to overleap the bounds of
rcafon and justice, arid how fee
ble the barrier formed by the best
of Constitutions, when private in
,tereft and party spirit conspire to
break it down.'
The Bank which had been enablifhed in Ports
mouth, and the only one in New-'Hampfhire, began
.at firft with a Capital 6f about tjxty thousand, and
was.afterwards increased to about eighty thou-'
land dollars ; from several years experience it had ,
been found that the demands of those who had^
occasion tomorrow, could not be supplied, and
<hat many citizens of Portsmouth and its vicinity
were driven to Banks of another State for loans,
which through difabiHty or disinclination of the
Directors, could not be obtained in their own.—
Whether the managers of the Bank and their fa-,
vorites, were partialfo their 'indulgencies, as was
the prevailing opinion, or whether the capital of
their Bank was really infufficint, seemed quite im
material, it was certain an evil.exifted that requir
ed a remedy ; this was attempted, by fettipg on
foot, in the spring of ,<,„, a fubfeription tor the
eftabliflbment of a feoond Bank ; in June follow-i
ing articles of affiliation were tighed, accommo-,
dations and materials were provided tor carrying
on thebufinefs, and early in October the bills of
the New-Hampshire Union Bank wqre-in circula
tion.—Finding that jealousies had arisen in the
minds of the Directors of the New-Ham,(hire
Bank ; that they considered the institution •of a
second Bank as an aftot hpflility And o^pofitio^
to theirs—The Directors of the N. H. Union Bank
from a desire of cultivating 'that degree of har
mony indipenfably necessary to the easy and pro
fitable conducting the business of both, thought
proper to seize the earliest opportunity to remove
zhofe unfavorable impressions and accordingly ad
dressed them in a refpekful manner, (as wa^ con
ceived) by tetter onthe fubjea: ; declaiming in the
most positive manner, the intentions ascribed to
them, expressing an opinion that the increased
hate of commerce would tfofd ample employ
ment for the capitals of both banks and propofife
terms of amity and a mutual exchange of friendly
offices. This letter, however, though breathing|
-nothing but friendship and goodwill was treated
with pointed contempt. Ignorant at that time of
the high prerogatives affirmed by those gentlemen,
and not fafpeaing tlteir claim tJan exchifive right
of acquiring; propertyby loaning money on bank-,
ing principles in New-Hampshire, it was difficult
to^account for ,his outrage on common decency
and politeness—but it will readily be concluded
that as no reply was made to this amicable over-"
ture, no further advances could with propriety be
made on our part. T .
Sensible of the disadvantages attending the pro
secution of business of this kind in an unincorpor
ated date, and defirou, of rendering their Institu
tion as public and ufeful as pbffile—The Stock-
' holders petitioned the General Court at their next
feflion (in December) for an a& of incorporation,
'which the Stockholders of the N. H. Bank were
permitted to oppose by their memorial fraught
with no final! degree of arrogance and indecency ;
the petition and memorial were referred to a com
mittee, a majority of whom, unfortunately for
the petitioners, were previously known to teip
the interest of the old Bank—lt was therefore ex-
#lfyft.'3>' 'frW^^A ±-~/fr%^^ ^, ^ ' -^^w Z W
fat Church yard=(\a\ He(h meat will not
keep—that our ffreets are as dirty as a po'a
toe field -rand that the administration of bur
City. Police are a set of stupid fellows.
wh & ; we repeat, were ignorant of all thisr
We will qiention one c'rcumftance, how
ever, to shew that the Doctor did not finish
his paragraph.—
It is a fa&, that the winter of I'Boo was
so mild in England, that several Ihips were
chartered to fetch ice from Greenland for the
City of London ; and yet no pestilence fol
lowed.j
K^tfyc^gtfy^^HfyfofrF
Portsmouth, JANUARY 13, 1800.
Cbe gepubUcan Ledger.
For the REPUBLICAN LEDGER.
—« -«^Q^»-> —
pefted their report would be unfavorable to the
petitioners, but to the ailoniftiment of every ra
tional and candid mind, they not only reported
agai^ft the petition, but in favor of an aft tor re
!training dll unincorporated banking associations !
This report was taken up in the House of Repre
sentatives and divided ; on the question, relative to
the incorporation a considerable majority voted
in favor Os the report ; to which they were led, as
many of them afterwards exprefled, by the confi
deratiun that the fubjeft was new to them, and
that they willied further time to contider it before
they put it beyond their reach—such precaution, in
those unacquainted with the banking business, ap
peared, to the petitioners; not unteafonablb, and
hefre they Would have cheerfully retted; Waiting
patiently until another session of the General Court,
that the public might have efficient experience on
the subject and the legislature be more competent
to determine on the propriety of granting th*
prayer of the petition. The second part of the<
report, viz. * that some aft ought to pass for re
Draining unincorporated banking companies,^
was also taken up and rejected— And there the
burners should have ended ; but interell, alas!
that too powerful incentive to injustice and op-.
preflion would not fuffer it so to be ; every branch
of the Legislature furnished its proportion of
Stockholders in the Old Bank whose extravagant
income was in danger of some diminution, an att
most arbitrary and oppressive, and (in many parts
at leaf!) unconstitutionally severe, calculated not
merely to prevent a multiplication of banking
companies in future, as was jefuitically pretended,
but tor the. particular design of crushing, at a Sin
gle blow, that which bad been legally and right
fully instituted, was prepared and read in the
Senate and became publicly known on Thurs
day, but was detained till the next week,on Tues
day, before it made its appearance in the house of
representatives, this unusual time was allowed, as
.was the general opinion, that there might be the
fullest opportunity to prepare that body for its
reception—if that opinion was just, and it is pre
sumed it does not admit of a doubt, the people of
New-HampShire will seethe necessity ofguarding
in future, against such extraordinary conduct in a
dignified branch of their Legislature.
The interval thus allowed did not pass unim
provfed ; for, in additionto those noted charac
ters, (whose unwelcome visits constantly infeft the
fittings of the General Court) men of some ref- 1
payability & influence were summoned from va
rious parts of the State to exert themselves in this
important affair, and in some instances, under a
promise of reimburfment of their expenses at lead
—some of whom, indeed, when made more fully
to uuderftand the bdfinefs in which they were
about to. be employed, rejected every overture
withdifdain, and returned with just indignation
to their refpeftive homes .;others less principled
were induced to engage in the cause ; political
prejudices were excited, the satellites of the Ex
ecutive were inceflant in addressing the hopes and
fears of men desirous of procuring or retaining
appointments, and after five days expended in the
mod agonizing efforts, a majority was found in
the'Houfe of Representatives in favor of The Alt ;
an A& unexampled for severity in the annals 'of
any free Government : Tyranny and despotism,
alone can furnish a parallel.. To give it some
femblauce of moderation, provision was made tor
the postponement of its operation till the firfl day
of Auruft following. This was introduced by
mere nibtilty, as a bailor the credulous and un-,
wary, who were told that this aft could not in-:
jure the bahk already in operation—that the pro
prietors wonld petition again in the June session,
and it so, would certainly be incorporated before
the ad could operate upon them—that this aft
was neceflary to prevent the multiplication of
Banks in future, and would tend only to,hat pur
pose. To guard more effectually, however, a
gainst a possibility 'ofcobtaining such incorporation,
a State Tax of Twenty-seven Thopfand dollars
was firfl voted ; and just at the close of the session,
when the business was foppofed to be completed,
a RefolVe was brought forward in an artful man
ner, add faaftily pafled, while many of the mem
bers were retiring to their homes, authorifing the
Treafitrer lopurchafe an additional dock in the
New-Hampshire Bank, to the amount of Twelve
Thousand Dollars, that the Reprefenlativeb of the
State might be the more interfiled in opposing
any means tending twleffen the income of proper
ty veiled in that Bank—and, flrange as it may ap
pear, so paltry a consideration produced the ef
fe& designed and was publicly urged in debate on
a subsequent petition, as a reason why an aft of
incorporation fbonld not be granted. ' Such was
the (late of things at tl>e expiration ofthe session
for 1799 : an unjust and oppressive law, bad been
pafled, arresting the operation of the N. H. Union
Bank, which had already become extensively ufe
ful—prohibiting the* Stockholders not only from
ifitting their notes and receiving deposits but even
from loaning money (filter and gold) and mak
ing every Stockholder, individually, liable for the
payment of any and every Bill, though they were
issued with the promise of payment at .the Bank
only.—Property to very considerable amount
lawfully expended in instituting a branch of com
mercial business was forcibly, wrefled from its
rightful owners, or at lead made of no account,
in violation (as is conceived) ofjultice and the na
tural rights of men, and bf both the date arid fed
eral confutations of government and from which
there cfuld be no relief but from an aft of incor
poration, or a repeal of the retraining att ; and
he mutt poftefs a very fuperficial knowledge of
human nature and of the chicanery that had been
praftifed in this affair toejuertain even a Shadow
of hope from this source unleft'under a tho
rough change In our Rate adminiftratiuD.
The Governor himfelf as well as his particular
friends and connexions were already largely in :
terefted, not only in the New Hampshire Bank,
but also in the Bank of Newburyport ; two of
the Senators, at lead, and many members of
the Hoofed of Representatives were Stockholders.
The Stqte too by the Stratagem of a few individu
als had become interested to larger amount than
before, arid in addition to all these, the Stock
holders of the New-Hampshire Bank, about this
time, voted an additional number of (hares for the
Eurpofe of purchasing still greater influence in the
gillattire, as was evident from the peculiar tranf
attioas of the meeting and the Angular mode
adopted for the disposal of those (hares.
: In the face of every discouragement, however,
which interest or prejudice could oppose to our
wishes, a second petition was presented to the
General Court at the Jone session, praying for an
AX of Incorporation, or that the “ restraining
MZ” might be repealed. This petition was again
met by a second Memorial of the Stockholders of
. the New-Hampshire Bank, who were admitted,
by their agents, to oppose the petition, and to
(hew why their fellow citizens should be depriv
ed of their nattiral had couliitutioual rights, and
why they ((the Stockholders of the N. H. Bank)
ought to enjoy the exclusive privilege of loaning
money, as a Company, in the State of New-Hamp
shire ; and at this time as on former occasions the
petitioners w ere indecently charged with views
inimical to the Government and to the Couftitu
tion, arid with instituting their Bank as an engine
to accomplish those hostile intentions. At an
epoch, like that when he who perfected a,man ot
republican opinions thought he did God Service,
when, to have been deci'dedly opposed to Ameri
can Independence— to have despised and ridiculed
the efforts of our most disinterested patriots and
heroes in its accourplifhmenr, and even to have
been a profeffed partizan with Britain, were but
so many recommendations to offices of honor and
profit—what oppofitiomcould be made to such in
ti Dilutions with the lead profpeft of success ? In
vain were pleaded, in opposition to their malign
nant aud groundless assertions, our (hare of anxie.
ty and fuffering through a long and tedious war ;
our loss of property, of health and of friends in
support of the glorious principles of our revolu
tion ; our inviolable attachment to the federal
Constitution of government, and ready obedience
to the laws—while many of our opponents who
were thus calumniating us as unworthy to (bare
with them the privileges refusing from that gov
ernment, in the purchase of which they had no
(hare, & not only witheld their affiflance in its ef
tablifhmem, but for want of opportunity, would
probably have taken in active part on the Tide of
our enemies. In vain di'd we state the private and
public utility of a fecund Bank in New-Hamp
fhire,and the many evils iufeparable from a mono
poly in this as in every other branch of commer
cial business. In vain did we urge that as citizens
and freemen we had rights and privileges in com
mon with our oppofers. That the State and Gen
eral constitutions guaranteed to us the right of ac
quiring, possessing and presetting property—that
they forbid retrofpedive laws, and laws impair
ing the obligation of contrasts :—the prayer ot our
petition was rejected and the law in all its severity
was differed to operate on us, to the K>ls of our
property lawfully acquired and invented ; to the
great injury of the commerce of this state and to
the public in general, liven so reasonable and
moderate a request as a podponement of the ope
ration of that extraordinary aX to the next session
of the Legislature, that those indebted to the
Bank for loans might have the advantage of the
productive season to make their payments, and
that the public might have further experience of
its operation, was pointedly rejected by the Sen
ate by not even joining a committee from the
House on the petition for that purpose.
Believing in the justice and importance of their
cause, a cause involving, not the interest of a few
individuals only, but principles both moral and
conflitutional, highly # interefling to the public at
large, perseverance was confideretl not only hon
orable, but indispensable. The Stockholders of the
N. H. Union Bank again petitioned the General
Court at their last session, as they had repeatedly
done before; the petition was decently noticed
by the House ofßeprefentatives, and a committee
on their part immediately appointed, which was
refuted to bejoined by the S^ate with the fame
fupercilions disdain as on tormer occasions ; in
this situation it was fuffered to rest. As it is, the
prerogative of the Legislature to enatt such laws
as in their opinion will promote the public good,
not repugnant to the Constitution, which they
have solemnly Tworn to support—so it is also .{pri
vilege relerved to the people by that Conftitucion
annually to cleft such of their fellow citizens as
they may judge best qualified to discharge this im
portant iruft—if therefore it shall appear that at
any time their rulers have exercifcd arbitrary
powers, unreasonably deprived their fellow citi
zens of their property and' their rights in viola
tion of justice and the contlitution —and to the in
jury Os the community at large; being their duty,
it 'will undoubtedly be the inclination of the free
electors of this date to witldiold their fuffrages
from such charafters in future, and bellow them
on those in whose abilities and integrity they have
greater confidence.
Some further obfervaticns and enquiries on
this head will be attended to as opportunity may
permit, by'
A STOCKHOLDER tn the late
NEW HAMPSHIRE UNION BANK.
From the Washington Intelligencer..
The official returns from Kentucky for
President a^d Vice-President have been re
ceived, They are for
Thomas Jefferfon, 4.
Aaron Burr, 4.
These votes complete the returns from
all the states ; whereby we are enabled to
announce the total result as follows : "
Thomas Jefferfon 73
Aaron Burr , 73
John Adams 65
C. C. Pinckney. 64
~< •<❖»->-
The ship Mercury, having on board a very val
uable cargo, from the river La Plata, bound to
Phiiad. is taken by the British and carried into
Halifax ; 70,000 dollars in fpeice were landed
from her at Halifax.
-<-<❖>•>-
The Wilmington, N. C.'Gazette of
Dec. 18. has the following important para
graph. ;
“ We hear that an English fliip from
Liverpool, arrived at the Fort on Tuefday
evening last, and brings the important news
of a PEACE IN EUROPE. A gentleman
who was on board the ship yesterday, arriv
ed in town to-day, and fays, that the Cap
tain informed him, that on his passage he
was boarded by a French 74 gun ship,
which fuffered him to proceed on the voy
age ; the captain informing him at the fam:
time that a PEACE had been concluded at
the Congress of Luneville." ,
A correspondent who reads the Aurora, fays
that he has observed that the Editor of that paper
frequently gives a hiftory of Rats who have left
the Federal Ship ; of Rats who have jumped 0-
verboard ; of Rats about tojump,overboard,&c.
&c. but could not account for their being thus
frightened, till Friday lift { When a gentleman
from the country, infortped him that he bad that
day, been converting with one of the pious editors
of the Courant, 6t whom he inquired, who was
likely to -be President, and who Vice-Prefideut of
the U. States^ and was aufwered by him, ' <We
O, when (hall mydiflreffes end.
How long mud I endure
Pain, sickness, woes of ev'ry kind,
Say, muff there be no cure.
_ Yes, death (ball come, his fov'reign balm,
Your pains shall heal > your passions calm.
DIED, at Reading, Benjamin Brown, Esq, ag
ed 73, formerly a brigadier general of militia.
At Salem; Mrs. Catherine Millet, Abecedarian,
aged 66. Mrs. Goodale, jaa fit, ffielell into the
fire and burnt to death.
At Bridgwater. Mrs. Abigail Hayward.
At Portland, Mrs. Elizabeth Jenks, aged 47.
——■—-=_———__ —-
ACKNOWLEDGMENT. ~
CT" Ourfriends in the advertising line will re
cave our thanksfor their numerous favours this
week,<
America (fays a late London paper) as well as
the northern powers, mull be inclined to coutclt
our maratifte law. She is, it is true, bound to us
by prong ties of interest.
The connexions between thetwo countries is
mutually advantageous. But America, too is na
turally led into the carrying trade—and should
the conduct of trance really prove honorable in
the execution of the late convention, the fyflem of
England, if adherred to, tail infallibly produce
difcontent' on the other fide of the Atlantic. In
deed, the conduct of our Cruisers will DEMAND
revision and controul. If we consider the extent
and importance of our Commerce with America ;
if we confider how Necessary a good under
flanding with America is to the support of the
Well India Islands, which deped for provisions
upon the United States—we must be sensible how
much it is our intereil to treat with the United
States in the most liberal manner, and to guard
against every danger ofa rupture.
From the difpolitions which the Emperor Paul
has shewn, the known temper of Denmark and
Sweeden, there is reason to apprehend that the
dispute is not yet fettled.
The policy of the French will naturally endea
vor to inflame the resentments of some, and to
agitate the Caprices of others into active measures
againit us. The Americans will likewise be ca
joled into the support of claims so consonant to
their interells. We fliould recollect the recorded
official declaration of Denmark, that the princi
ples of the armed neutrality would never be aban
doned till it was overpowered by force
, What said John Marshall the present se
cretary of state, about democracy ?
-<-<g>.>..
The losses « hich the princes of the Empire will
sustain by the peace w ith France are computed at
472,000 square miles, and 1,144,523 men. The
Ecclehaflical States will jofe 1,112,c00 square
miles, and 1,844,650 men. In Germany, 250 men
are reckoned to a fqukre nile ; and 29,000 men
in the Ecclesiastical States.
-4-<4fy>->..
. A few weeks since, pafled through Holden to a
new fettlemeuf, from Portland, a gentleman and
his wife, with twenty Sons, born at eight)births,
fifteen at the five firlf, four at the two next, and
one at the last.
E^rae of a letter from Gen. Marshall's defence
f the Coiftitution, in the Virginia Convention :
" We, fir, idolize democracy ! Tnole
who oppose it, have bellowed eulogiums on
monarchy ! We prefer this system to any
monarchy, Because we are convinced that it
has a greater tendency to fecuje our liberty
and promote our happiness : we admire it
because We think it a well-regulated demo
cracy ! [Batt. Amer.
have get an Atheist for a President, & a I-~
Cat for Vice-Prehdew.." We freed itot icuv
farther lor the jaufe of their frighi. FniUdLi C?.i>
are apt to terrify mischievous Rats.'
A?ner' .Mercury.
ff ft . bEMc^RACr.
What is Democracy? Lisa government
formed by the general voice of the people :
a government wherein the will ot the peo
ple alone predominates: ft is the great
source from which all free governments are
derived ; Republicgnifm is its eflfence- —par-
taking eminently of all its refined principles
without its crudilids. The principles of
our federal constitution are Afridly demo
cratic.
Blessed effects 0) British Connexion.
On Friday and Saturday Peter Blight of federal
celebrity, presented himfelf to the Supreme Court
of this State for the benefit of the Injuhmt All.
This is the gentleman who took such laudable
feps to influence his ship builders :.nd others to
vote for the federal canuidates at several elections.
We could tell some pretty anecdotes of this kind,
but for the present we (hull barely observe, that
haying had access to the returns of debts made by
this EngliJhgentlernan, in The Prothonotaries office,
they appear to amount to the trifling sum of
1,259,000 (one million two hundred and 6xty
thousand dollars) and upwards!!l [Aurora.
i-«.«4tyr>-
A bill has been introduced in the house of re
presentatives of North Carolina, for the further
taxing of bachelors, and to forward the popula
tion of the State, by promoting and encouraging
matrimony.
MARRIED—At Bolton, Dr. Samuel Brown to
Mils Ann Jeffries.
Mr. John Bailey, to Miss Betsey Symmes.
At Milton, Mr. Eben'r Tucker, to Miss Sally
Glover.
There is not perhaps in the United States a more
determined democratic republican, or a greater
enemy to the British or H^indtonian faction, than
Col. BURR—this gentleman, the model! editor of
the Centinel fays, if the choice of Prefideot was
mvefled in him, he should vote for, in preference
to Mr. Jefferfon—ih:s is Centime! confiflency with
a witness. 'Telegraph. 1
Where th<?t meets tho't,where hearts in union join
How sweet the joy ! the pleasure how divine !
Temple of tymcn.
@ttalitg.