Republican gazette — Concord, N.H., 1801-10-01 00:00:00, page 1

For the R. GAZETTE.
The NEW Emiffim Bank Bills. „'
A certain federal (therefore, - —-) print, has
mide a round affertioo, that the*,w bills issu
ed from the Old Bank io Newbamplhire promij.
% payment in Philadelphia, " are received as
CURRENTLY ar ANY Bells iatbeU. S.” We
are saved the trouble of Contradicting this filly
(al, affection—the pains the issuers have taken
to pt them into circulation, and the difficulty they
have already met with, are fufficient evidences
how CURRENTLY these New bills are re
ceiled Many men>to refuted them; ma
ny mote will refufe them, (f offered) ; and it
is at least presumable that they will not pass so
currently with any, (except the particular advo
cates of the Old Bank," who have not yet put
off their mourning weeds" for the Renovation
of Republicanism Taft March.) And let them
few that ary men have ever hefitnted to take
the Bills of the United States Bank, or any" of
its Branches, before they have the effrontery to
affect that these new bills (the offspring of baj
tard-federalifm) pass as " current!," es any other
bills in the U. S. Do a,y men refufe the Bills
of the MtfacbuJetts, the Newburyport, the Ejfa,
the Providence, the Union, the Portland, or the
United Statu Bank Bills? No. The Bills of
none of these Banks have ever been refufed; yet
an " abandonednewfpaper" asserts that " these
uro bills art received as currently as an, bills in the ;
United States Ok ! Shame ! Even the old ;
bills of the Newham,fo re bank itfelf, pass with'
much more currency than these new bills or dr
dors an Philadelphia. Not can the men who if-,
sued these new bills reasonably expea they will
readily meet a currency, till they give some bet
ter evidence than the bills carry on their face,
or the vague insinuations of a venal tor, news
paper, that the Silver can be had for them even
in Philadelphia. These men would wilh peo
ple to believe that the Newham,(hire Bank is in
faft now made into a Branch of the Bank of the
Uni ed States. Let us not rest the contradiaion
on the mere assertions of us, Jacobins !" But
let, us examine the tenour of the bills, and draw
our demonftratioos from them : The Bills of
the REAL Branch Banks are worded thus,
" The PreEdent, Dirtier, & Company of the Bank
of the United States, fromife to pay, on demand, at
tk& Office of Discount and De,oft A t Boston."
They do not refer the holder to Philadelphia,
for payment. These New bills run thus:
" The PreJident, Dirtaors and Com, in, of the New
bahtybire Bank ptoTOje to fa, — - or bear
er, at the Bank of the United States in Philadel
phia." Herein neither the President, Direc
tors nor Company of the United States Bank
are in the least degree obligated ; nor do these
new bills carry the least kind of evidence that
they are “ authorized checks" on the U. States
Bank : We have therefore no evidence, except
the insinuation of a newsprint, notorious only
for its diforganizmg feurrilityind opposition
to the Government and Constituted Authori
ties of our country.
To encourage the idea, that these new bills
are really as good as any other, and to induce
the people " through the country" to believe
they will meet ready payment in Philadelphia,
this creature of a part,, these tools of the Old
Bank, endeavour to treat with contempt the
suggestion, that these new bills will be paid at
the U. S. Bank, or not, as that Bank may be
furnifhed with funds for the purpose ; this, fay
they, " is the most undeserved fuggeftionthat
could be thought of ; for no one is to great a
fool as to suppose that the U. S. Bank is desti
tute of funds for redeeming its bills or autborif
,# checks." So be it.
Tis true, 40 person doubts the ability or
rfadityspf the Managers of the U. S. Bark |p
redeem their own bills or autberiJed checks: but
the new bills in question, are not bills of that
bank, nor of a branch of that bank'; the U. S.
Bank therefore is no more concerned in the re--
deration of them, than the Trerfury of the U.
S. would be to redeem orders from t|ie Bey of
Tunis, if T-— P=— should gra checks to
the Barbary Powers, for his late fy&/cafof.
A^ there appears no evidence to the contra
ry. we have „ undoubted right to prefame, or
even insist, that these New bills are ^ot even
CONCORD, [n. h.] October 1, 1801—I—35 —*# This Gazette circulates through ever, Count, in the State.
REPUBLICAN GAZETTE.
LIBERTY AND THE CONSTITUTION.;
authorised checks on the U. S. Bank; and "no
one is so great a fool as to suppose that the U.
's. Bank" will appropriate its funds to redeem
the Bills of & Newborn,foist Bank ; nor can
the holders exped payment,.fhould they apply,
till the bills io someway or other implicate the
Directors of the U. S. Bank, or till the Direc
tors of the Newham,fare Bank actually furnish
funds for the purpose. Applicationsay be
made at the U S Bank, but the tencur of these
New Emiffiotyßills does not give any legal de
mand upon that bank. •
The Old Bank croaker hammers out his fine
spun suggest ions into a tacit condemnation of
the ferpemine condu& of bis crooked hearted
matters# in the following extraordinary exulta
tion :-" We regret having eccafan to Ja, an, thing
in favor of tbejs new bills ,Jo well designed for gene
ral nfe; or again to mention the fufoa of the New
bra,fare Banks. The argument that one is injuf
ficitnt for she commercial purpofits of the State, and
the clamour against the non incorporation of the oth
er, have no longer an, foundation ; and as much mo
ne, ma, now be bad, as people have credit to pro
cure it with."
Here is an implicit acknowledgement, that
the arguments of the Stockholders of the New
Bank, hithereto urged in favour of its incor
poration, are just, and ought to have had
weight with the Legislature. The Proprietors
of the New Bank urged the neceffify of anoth-'
er bank, because one was incompetent to the
purposes of increasing commerce These
[Stockjobbers now own it, and exult that their™
new bills are to supply the deficiency : But we
;presume such trappings as these will not meet
}the approbation of a future Legislature in N.
Hampshire ! If the arguments of the Owners
of the Old Bank against the New, are without
foundation ; if they cannot issue bills enough
on the principles of their incorporation to ans
wer the commercial purposes of the state ; if in
fad more banks than one arefaeceflary, (and
these new bills Efficiently demotiftr^te it) why
then, io the name of common sense, shall not
the New Bank be incorporated? Why shall
the Banking business be vested in a class of men
whose ffinted capital forces them to an unpre
cedented expedient ; whose bills, payable in the
state, flow in upon them in such fa/r, as may
necessitate them to invent a new jcbeme, to re
fer (beholders of their bills for ,a,meat to a dis
tance cf more than four hundred miles from the
place whence they are issued, and from the state
of Newhamp/hire too ? Will this Jhttr ma
noeuvre compeofate the Proprietors of the New
Bank for the money they expended in prepar
ing their bank, and for which the old bankers
now prove the necessity ? Will the exultation
that they can answer the demands of commerce
with iheir new bills, (which are completely
formed, but " will net go,") will this fatisfy
those citizens who have been deprived of the
exercise of the common rights, guaranteed to
all, by the Constitution? Will this atone for
the insult they have procured to be offered to
the dignity of a, Free State, through blind zeal
and the <barn which Jacobinonce possessed ? -^
N&! And the day is coming, when Justice
shall govern ; and when party zeal shall not pass
for Patriatifm!'._
Notwithstanding the " flimfy infinuatioD,"
that “ as much money may now be h^d, as peo
ple bate credit to procure it with ;" yet, from
attendant circumstances, we make the follow
ing deduaions : Thatthe Old Bank has not a
Capital fufficient to the business which they
with the exclusive privilege of doing ; witness
their bills payable only in Philadelphia : Hence
jbe necessity of another Bank :---That, should
people in fad have credit enough to borrowihe
New bills, they may answer the purpose of get
ting to the bank 6 per cent from the borrower,
but they will not anfwet the purposes of com
merce, because they do not pass so currently
as apy other bank bills in the United States ;
therefore the neceffiry for incorporating anoth
er bank, (or at least of taking off the retraining
aa,) in Newhampfhire is not in the least di
minished, nor the wants erf the Merchant alle,
viated; but the embairaffmeots of commerce
rather encreafed ; because people will hot rest
so much confidence in bills payable in Pbiladel
phia, as in those payable in Portsmouth
On the whole, as the word Jacobin is faft going
out of use among the people generally in New
bampfhire, and has already loft its force as ap
plied against Republicans, (it now serving on
ly the fame purpose to the federalifts, as the
rattle to the child) ; we anticipate, that ere long
these Old Bank Patriots will cry Peace ! Place!
and consent (or not oppose) that the Legisla
ture shall ALLOW their neighbours the fame
Privileges with themselves, the right es" ac
quirtog, using, and defending Property," ac
cording to the Constitution: without endear- ~
curing to point the finger of popular contempt
at every man, and wishing him proscribed as a
Jacobin, because he encourages the incorpora
tion of the " Langdon Bank."
" As much money ma, now be bad,as „e,le have
credit to procure it with." Formerly, the CRE
DIT requisite to procure money at the Old
Bank, was, that a man must be a profefed Fed
eralist, a violent reviler of Democracy, and must
denounce every one a Jacobin who would not
condemn the New Bank and a New Candidate
for Governor. Now, if the Dire&ors insist on
the fame qualifications in the-foanees, as for
merly, no honest Republicans can obtain
any of their Money, as they can never attain
to this federal criterion of " Credit," with these
Money Changers.
==
" As much Money as Credit !'
Yes— But what fort of mono, ? —Why, to be
fore, if a gcodfcderalifi will get two or three good
endorjers, to a note of hand, payable in 30, 60
or 90 days, in Newham,(hire, he can get anoth
er note, (or check), for the fame sum, payable
on demand at a place 400 miles off! We do
not know but Republicans might get some of
these Philadelphia notes—ss we have not heard
of any applications yet—But, it is an Enigma.
to fay they can therefore get as much money as
they want—But Modern Federalism is taking a
strange turn—and it is a rare difeovery, re
served for the ingenuity of the Sea, that Notes
of Hand, payable in a distant state, are Money,
even tho' signed by every Stockholder in New
hampfhire-'Federalifts may call these orders on
Philadelphia, Money, if they will—but it will
require more Aids than one, to scribble people
into the belief—W@ think we would rather pre
fer Gold, or Silver— or even Bills payable at the
Nrcohampfeire Bank\ RINOLDO.
More of TIMOTHY PICKERING,
the thread bare Patriot, whom the Federal
ists have teofted as a Martyr to their jea, be
cause Mr. Adams from necessity DISMISS
ED him from the Office of Secretary of State
for reaJons bes known to bi m/elf !—To those
of our good federal friends, who were highly
incensed at the "precious" disclosure of Fads
by Samuel Smith's letter to Thomas Fitzfi
mons, as stated in our last, we recommend
the following declarations of A. Campbell,
of Philadelphia, as an antidote, to allay their
tender, feelings — The late administration may
be fault Its—Mt. Adams without a spot oe
blemish on hispolitical charader ; (so wewiffi
them) —Timothy flickering may be mild as a
lamb, harmless as a'dove, and virtuous as an
Angel, for aught we know from personal
knowledge of him—But still, as a Centinel,
we esteem it a duty we owe the Public, and ~
we shall fulfil it, to publish such declarations
as Mr Smith's and Mr. Campbell's, when
made in the public newspapers, whether they
expose John Adams, or Thomas Jefferfon ;
Albert Gallatin,/^ Genevan) or Alexander
Hamilton, (th, %/i Indian); Benj. Stoddard•
jfror Robert Smith; James M'Heory or Hen
ry Dearborn ; James Maddifon, or Timothy
Pickerings whose "further services" Mr. Ad
ams could so freely dispense with. At the
fame time, our Gazette will ever be free to
announce the innocence of Public Officers
who show it, and the consequent infamy
which must attach to fafe accusers.
[Republican Gazette.
MANY of the late office-holders, (peculators,
&c. are inceffaotly railing against the prefect
Secretary of the Treafory^ This condud, if
them, is not unaccountable. It would be tru-,
ly furprifiog to hear thieves and incendiaries ap
plauding the faithfulnefs and vigilance of couth
neb or wd/rbwe, who preferred from their de
predations treasures, to which they had once an
easy access. [Republican Ledger.