The Newhampshire gazetteer — Exeter, N.H., 1791-01-15 00:00:00, page 1

PLAN OF THE
NATIONAL BANK.
1, I IHE capital stock
'■' of the Bank ihall not
■ exceed ten millions of
dollars, divided into
twenty-five thousand
(hires, each (hare be
ing four hundred dollars ; to raise which
sum, fubferiptions shall be opened on the
firft Monday of April next, and shall con
tinue open until the whole (hall be sub
scribed. Bodies politick as well as indi
viduals may subscribe.
2. The amount of each (hare (hall be
payable, one fourth in gold and fiber
coin, and three-fourths In that part of
the publick debt, which according to the
loan proposed by the ad making provi
sion for the debt of the United States,
shall bear an accruing interest at the time
of payment of fix per centum per annum.
3. The refpedive fems subscribed (hall
be payable in four equal parts, as well
specie as deb:, in succession, and at the
distance of fix calendar months from each
other ; the firft payment to be made at
the time of fuhfeription. If there shall
be a failure in any subsequent payment,
the party failing shall lose the benefit of
any dividend which may have accrued
prior to the time for making such pay
ment, and during the delay of the fame.
4. The fubferibers to the bank and
their successors shall be incorporated, and
shall so continue until the final redemp
tion of that part of its flock which shall
consist of the publick debt.
5. The capacity of & corporation to
hold real and personal estate shall be li
mited to fifteen millions of dollars includ
ing the amount of its capital or original
flock. The lands and tenements which
it ifhall be permitted to hold, shall be on
ly tach as shall be requisite for the imme
diate accommodation of the institution ;
and fu<h as shall have been fadfide mort
gaged te{it byway of security; or con
veyed to rc in fatisfadion of debts pre
viously conbrafted, in the ufdal course of
its dealings, of purchased at sales upon
judgment wi. %h shall have been obtained
tfbr such debtr,
6. The totality of the debts of the
company, whet&r by Bond, bill, note, or
other centrads, ^credits for deposits Cx
eepted) shall newer exceed the amount of
its capital flock. ^ln case of excess; the
directors, under tfhofe, administration it
shall happen, (hal!\be liable for it in their
private or fepar^e capacities. Thole
who may have dissented may excuse them
fetves from this refponfibiiity by imme
diately giving notice of the faft and their
diffmt, to the President of tlie United
States, and to the ftockholders,at a gene
ral meeting to be called by the President
of the bank at their request.
7. The company may fell or demise
its lands and tenements, hr may fell the
whole ok any part of the public debt,
whereof its stock shall cohfift ; but (hall
trade in ribthing, except bills of exchange,
gold and silver bullion, or in the sale o|
re's pledged for money Hint : Nor shall
take more than at the rate bf fix per cen
tum per annum, upon its loans Or dif
eounts.
8. No loan shall be made by the bank;
for the use, or on account of the goverri
ment of the United States, or of either
bf them, to an amount exceeding fifty
thousand dollars, or of any foreign Prince
or state ; unless previously authorifed by
a law of the U. States.
9. The stock of the brink (hall be trans
ferable according to fach rule as shall be
instituted by the company on that behalf.
10. The affairs of the bank shall be un
der the managementof twenty-five direc
tors, one of whom ffiall be the President.
And there shall be on the firft Monday of
fan,try, in each year, a choice of direc
tors by plurality of fuffrages-of the flock
holders, to serve for a year. The direc
tors at their firft meeting after each elec
tion, (halt choose one of their number as
creadeat.j
EXETER, (Wt^ffire) Printed and Publiihed by HENRY RANLET, at Nine Shillings per annum.
— ^— — ite— ■ —= " - — '
SATURDAY, January 15, 1791.]
Newhampfhire
11. The number of votes to which each
fto&hplder shall be entitled, shall be ac
cording to the number of (hares he shall
hold, in the proportions following ; —that
is to fay, for one (hare, and not more
than two (hares, one vote : For every two
ffiares above two, and not exceeding ten,
one vote : For every four shares above
ten, and not exceeding thirty, one vote:
For every fix (hares, above thirty, and
not exceeding sixty, one vote : For every
eight (hares above sixty, and not exceed
ing one hundred, one vote—and for eve
3, tan (bares above one hundred; one vote:
ut no perfori, co-partnership, or body
politick^ shall be entitled to a greater
number than thirty votes. And after the
firft election, no (bare or (hares shall con
fer a right of fuffrage, which shall not
have been holden three calandar months
previous to the day of election. Stock
holders actually resident within the U.S.
and none other, may vote iri elections by
proxy.
12. Not more than three fourths of the
directors in office, exclusive of the Presi
dent, shall be eligible for the next Suc
ceeding year. But the diredor who shall
be President at the time of an election,
may always be re-elected.
13. None but a Hockholder; being a
citizen of the U. S. shall be eligible as a
diredor.
14. Any number of stockholders not
less than sixty, who together shall be pro
prietors of two hundred (hares, or up
wards, (hall have power at any time to
call a general meeting of tfe stockholders,
for the purposes relative to the instituti
on ; giving at least fix weeks notice in
two publick gazettes of the place where
the bank is kept, and fpecifying in such
notice the objed of the meeting.
15- In &of the death, refignation,l
absence from the Unfed States, or re
moval of a director by the stockholders,
his place may be filled by a new choice
for the remainder of the year.
16. No diredor shall be entitled to any
emolument, unless the fame shall have
been allowed by the stockholders at a ge
neral meeting. The stockholders. shall
make such compensation to the Prefc
derit; for his extraordinary attendance a:
the bank, as shall appear to them rea
foriabie;
17. Not less than seven diredors shall
constitute a board for the tranfadion of
bulineG. _
18. Every caffiier, or treasurer, be
fore he enters on the duties of his office,
shall be required to give bond, with two
or more sureties, to the fatisfadion of
the directors, in a sum hot less than twenty
thousand dollars, with condition for his
good behaviour.
20. Half yearly dividends shall be
made of so much of & profits of the
bank; as shall appear to the diredors ad
vifeable. And once in every three years
the diredors shall lay before the stock
holders, Mt a general meeting, for their
information,an exad and particular flate
ment of the debts, which shall have re
mained unpaid, after the expiration of
the original credit, for a period of treble
the term of that credit,and of the surplus
of profit; if any, after deducing losses
and dividends.
20. The bills and notes of the bank
originally made payable, or ivhich shall
have become payable on demand, in gold
and filter coin, shall be receivable in all
payments to the United Stites.
21. The officer at the head of the trea
sury, department of thd United States,
shall bi fiirnifhed from time to time, as
often as ne may require, not exceeding
once a week, with ftdtements of the a
mount of the capital flock of the bank,
and of the debts due to the fame, of the
monies deposited therein, of the notes in
circulation, and of the cash in hand; and
shall have a right to infpefl such general
1 accounts in the books of the bank, as
shall relate to the said statements; pro
vided that this shall not be conffrued to
imply a right of infecting the account
of any private individual or idividuals,
t^for infliction ihall be
THE
ertabliihed by any future ad of the United
States, during the continuance of the one
hereby proposed to be established. ,
23. It shall be lawful for the directors
of the bank to eftabliffi offices, wherefo
ever.they shall think fit, within the Unit
ed States, for the purposes of discount,
and deposit only, and upon the fame
terms, and in the fame manner, as shall
be pradife# at the brink, and to commit
the management of the said offices, and
the making of the said discounts, either
to agents fpecirilly appointed by them,
or to such persons as may be chosen by the
stockholders residing at the place where
any such office shall be) under such agree
ments, and fubjed to fuck regulations as
they shall dedQproper ; not being con
trary to law, or to the constitution of the
bank.
24. Ana lastly. The President of the
United States shall be authorized to
cause a fubicription to be made to the
stock of the said company, on behalf of
the United States, to an amount not ex
ceeding two millions of dollars,to be paid
out of the monies which shall be borrow
ed by virtue of either of the ads, the one
entitled. " An Ad making provision for
the redu&ion of the publick debt ;" bor
rowing of the bank an equal sum, to be
applied to the purposes for which the
said monies shall have been procured, re
imbursable in ten years, by equal annual
inftalments ; or at any time sooner or in
any greater proportions, that the govern
ment may,think fit.
CONGRESS.
THIRD SESSION.
IN SEN^ri.
THURSDAY, DEC. 23.
n ESOLVED, That it would be in-I
expedient to alter the system for I
funding the publick debt established dur-1
ing the last session, of Congress, and that I
the petition of t^omas M'Kean, and 0-1
thers, fylirig the'ihfelve, a committee ofl
tne publick creditors of the Common- 1
wealth of Pennjylvdnia, cannot be grant I
The yeas and nay, being required I
upon the above resolution, were as fol-I
lows:
YEAS.—Messrs, Basset, Butler, Dalton, I
Dickinjon, Ellsworth, Elmer, Fem, Fofler I
Hamkins, Johnson, Izard, King, Langdon, I
Mat lay, Read, Schuyler, Stanton, Strong, I
Jobnflon, Wingate.
NAY. —Mr. Morris.
HOUSE OF REPRESENTATIVES.
MONDAY, DEC, 20.
Mr. Stone took his feat this day.
A BILL to continue in force for the I
term of five years, an ad, entitled 1
an a&, declaring the assent of Congress I
to certain ads of the states of Rhode-lfl-I
arid,Maryland and Georgia, was brought I
in engrofed, read a third time, and pass-1
el
A bill supplementary to an aft makingl
further provision for the -debts of thel
United States, was read a second, and|
ordered to be read a third time to-mor-I
row,
Mr. Benson, from the committee ap
pointed for that purpose, reported the
following bills viz.
A bill declaring the officer, in case of
the death, removal, or disability of the
President or Vice-President, shall exercise
the office of President.
A bill for determining the refpeftive
timitewhen the electors for a President
and Vice- President ffiall be chosen,
^hd the time when they shall give their
votes.
Arbill direaing the mode ip which the
lifter of the, votes for President and Vice-
President shall be transmitted to the feat
I pf the Government of the United States ;
I all which were read a firft lime.
2 ° ar
[Numb. 24 of Vol ume—s.
Gazetteer.
Mr. Huntington presented the peti
tion of William Robinfo,, refpeding a
loft certificate ; read and referred to the
committee appointed to bring in a bill
direding the mode in which the evi
dences of the publick debt shall be re
newed. & ,
Mr. Gerry presented the petition of
john Milled Rtfell, praying the reiniffiou
of the new duty on a quantity of hemp by
him imported; read and referred to the
Secretary of the Treasury.
,Mr. Fitzfimons presented a petition
from a number of the merchants and
traders of Philadelphia, praying for the
ereaion of additional piers at Chester,
in the river Delaware ; read and referred
to the Secretary of the Treasury..
Mr. Gerry laid the following motion
on the table. That the Secretary of
Stride be direded to procure and keep in
his office, all Charters, Patents, and Do
cuments, which refpea the jurildi&onal
and territorial rights of the refpeftive
States.,
Mr. Smith laid the following motion
on the table, That provision be made for
erecting a Beacon at the entrance of the
port of Georgetown, South- Carolina;
read and referred to the Secretary of the
Treasury.
In committee of the mhole on the Militia Bill.
Progress was made in the discussion al
far as the Bth fedion.
TUESDAY, DEC. 21.
The bill fuplementarj to an ad mak
'ng provision for the debts of the United
States, was read the third time and
palled. g
The three bills reported by Mr. Bert
fon yesterday, were ^ead the second
time, arid made the order of the day for
Monday hext.—loo copies of each of
these bills were ordered to be printed for
the use of the Houle., ......
Mr. Fitzfimons presented a memorial
from the Trustees bf Wilmington CQ
lege; which was read, and referred to
the Secretary of the Treasury.—Also,
IMemorial and remonstrance from a cora-
Imittee bf a number of the creditors of
the United States in Philadelphia.
Mr. Seney of the committee appoint,
ed on the petition of sundry inhabitants
of Baltimore, praying for the eftablifh*
men. of an health office, brought in a
report, which was in favour, of the per
tition-—and recommepdary of a fimlar
institution in every port where they are
wanted. , o ,fa
This report being accepted by the
I boufe, a committee was appointed to
I prepare and bring in a bill accordingly.
I - Mr. Williamson gave notice that
I he fhbuld to-morrow move for a com-
I mittee to bring in a bill to prevent inva-
Ilid pepfioners from transferring the right
I to their penfiohs, before they become
I due.
A report from the tommiffioners ap-
Ipointed the last session t o foperintend
I the purchase of the pubtick debt, was
I communicated to the House by the Speak-
I er,by which it appears, that the Treasurer
I of the United States, perfuapt to orders
I received from the commiffioner* ,has
I purchased the sum of two hundred fe-
I venty eight thousand fix hundred and
I eighty-seven dollar, ; fpr which the sum
I one hundred and fifty thousand two hun-
Idred and thirty-nine dollars in specie,
I has been paid,. ~
In committee of the whole on the
I Militia Bill. e
The committtee finifhed the difcuffiQQ
I this day—and the Chairman reported the
I fame to the House with sundry amend-
I ments. «t.
I It was ordered that it should lie on the
I table. ——- —-
WEDNESDAYS DEC' 22.
The amendments to the firft feftion of
I the militia bill, as reported by fo.con,
I mittee of the whole, being adopted, it
I was moved by Mr. Boudinot, further,
lit J^^'rovi^ #r%;.