New-Hampshire gazette, or, State journal and general advertiser (Portsmouth, N.H.), 1781-06-25 00:00:00

New - Hampshire Gazette State Journal, and General Advertiser.
[ Vol. XXV. ]
MONDAY, June 25, 1781.
[ No. 1286. ]
To the P U B L I C K
On the 17th day of May, 1781, the following PLAN was submitted to the consideration of the United States, in Congress assembled.
PLAN for establishing a NATIONAL BANK, for the United States of North AMERICA.
I THAT a Subscription be opened for Four Hundred Thousand Dollars, in Shares of four hundred dollars each, to be paid in gold or silver.
II That the subscription be paid into the hands of George Climer and John Nixon, Esqrs; or their agent.
III. That every subscriber of less than five shares, pay the whole sum on the day of his subscription.
IV. That every subscriber of five shares or upwards pay one half the sum on the day of the subscription and the other half within three months of that day.
V. That every holder of a share shall be entitled to vote by himself, his agent or proxy properly appointed, at all elections of directors, and that he have as many votes as he holds shares, and that every subscriber may sell or transfer his share or shares, at his pleasure, the transfer being made in the bank book, in presence and with the approbation of the proprietor or his lawful attorney, the purchaser then to become entitled to the right of voting, &c.
VI. That there be twelve directors chosen from among those entitled to vote, who at their first meeting shall choose one as president.
VII. That there be a meeting of the directors quarterly, for the purposes of regulating the affairs of the bank, and seven of the directors to make a board, and that the board have power to adjourn from time to time.
VIII. That the board of directors determine the manner of doing business, and the rules and forms to be pursued appoint the various officers which they may find necessary, and dispose of the money and credit of the bank, for the interest and benefit of the proprietors, and make from time to time such dividends, out of the profits, as they may think proper.
IX. That the board be empowered from time to time, to open new subscriptions, for the purpose of increasing the capital of the bank on such terms and conditions as they shall think proper.
X. That the board shall at every quarterly meeting choose two directors, to inspect and controul the business of the bank, for the ensuing three months.
XI. That the inspectors so chosen, shall, on the evening of every day, Sunday excepted, deliver to the superintendant of the finances of America, a state of the cash account, and of the notes issued and received.
XII. That the bank notes, payable on demand shall by law be made receivable in the duties and taxes of every state in the union, and from respective states, by the treasury of the United States, as Specie.
XIII. That the superintendants of the finances of America shall have a right at all times, to examine into the affairs of the bank, and for
that purpose shall have access to all the books and papers.
XIV. That any director or officer of the bank who shall convert any of the property, monies or credits thereof to his own use, or shall any other way be guilty of fraud and embezzlement, shall forfeit all his shares or stock to the company.
XV. That laws shall be passed making it felony without benefit of clergy, to commit such fraud or embezzlement.
XVI. That the subscribers shall be incorporated under the name of The President, Directors & Company of the Bank of North America.
XVII. That none of the directors shall be entitled to any pecuniary advantage for his attendance on the duties of his office as Director, or as President, or inspector, unless an alteration, in this respect, shall hereafter be made, by the consent of a majority of the stock holders, at a general election.
XVIII. That as soon as the subscription shall be filled, George Clymer & John Nixon, Esqrs; shall publish a list of the names and sums respectively subscribed, with the place of abode of the subscribers, and appoint a day for the choice of directors, to whom, when chosen, they shall deliver the money by them received.
On the 26th day of May, 1781, after maturely considering the above plan, Congress came to the following resolutions upon that subject.
By the UNITED STATES in Congress assembled, May 26, 1781.
Resolved, That Congress do approve of the plan for establishing a national bank in the United States, submitted to their Consideration, by Mr. Robert Morris, the 17th of May 1781, and that they will promote & support the same, by such ways & means, from time to time as may appear necessary for the institution, & be consistent with the public good.
Resolved, That the subscribers to the said bank shall be incorporated agreeably to the principles and terms of the plan under the name of the president, directors & company of the bank of North America, so soon as the subscription shall be filled, Directors & President chosen, and application for that purpose be made to Congress, by the President and Directors elected.
Resolved, That it be recommended to the several States by proper laws for that purpose, to provide that no other bank or bankers shall be established or permitted within the said States, respectively during the war.
Resolved, That the notes hereafter to be issued by the said bank, payable on demand, shall be receivable in payment of all taxes, duties and debts due, or that may become due or payable to the United States.
Resolved, That Congress shall recommend to the several legislatures to pass laws, making it felony without benefit of clergy, for any person to counterfeit bank notes, or to pass such notes, knowing them to be counterfeit; also making it felony, without benefit of clergy, for any president, inspector, or director, officer or servants of the bank, to convert any of the property, money, or credit of the said bank to his own use, or in any other way to be guilty of fraud or embezzlement, as an officer or servant of the said bank.
Extract from the Minutes.
CHARLES THOMSON, Sec'y.
This full Acquiescence of the supreme Representatives of AMERICA, gives such Weight to the Reasonings on that Subject, as carries with it the fullest Conviction.
It is not therefore to enforce, but to explain the Plan, that I have taken the Liberty to submit the following Observations.
The four first Articles relate to the Stock and the Means of obtaining it,--FOUR HUNDRED THOUSAND DOLLARS
are named; because it is conceived that such a Sum will be speedily and readily subscribed: How far it may be adequate to the Purposes in View, or how much greater Sum might have been subscribed, are unnecessary Questions: Let us at present make Use of the Resources clearly in our Power, and if (as is most probable) those Resources shall, on Experiment, appear greater than at present, then, according to the ninth Article, the Operation may be further extended, so as fully to answer the end proposed.
The Gentlemen named to receive the Subscriptions are the present Directors of the Pennsylvania Bank: As this Business must of Necessity be, in the present Instance, transacted by private Persons; and as they are generally known in that Line, they naturally present themselves to our Consideration; their private Characters will give additional Weight to all their exertions.
The eighteenth Article points out the Mode of delivering the Business over out of their Hands into those of the proper officers.
The sixteenth Article, which provides for the Incorporation, is of such apparent Propriety, that Nothing need be laid upon that Subject; and the fifth Article, designating the Rights of the Stock-holders, is founded on Principles so well known, understood and felt throughout America, that Explanations or Arguments would be superfluous.
The sixth, seventh, eighth and tenth Articles, contain the Outlines of the Civil Government of the Corporation after it shall have been formed, as the Holders will not only be numerous, but scattered through this Country, and perhaps some of them reside in Europe, it will be impossible for them to manage in Person, their own Interests: The common Doctrine of Representation, therefore, becomes necessary: How properly that Doctrine is applied, is submitted to the Consideration of those who may chuse to become concerned. In Confidence, however, that they will be convinced, proper Care is taken of individual Interests as well as of the general Concern.
The seventeenth Article is framed according to our present Situation, and what is conceived to be the Disposition of mens minds to pursue the public Interest: If Time and Circumstances shall, by rendering the Duties more laborious, or from any other Cause, require an Alteration, the Means of making it are provided for.
The twelfth Article is intended to give, on the Part of Government, that Credit to Bank Notes which the Interest and Convenience of Individuals will naturally lead them to give in their Turn. It is intended that the Government shall derive Advantages from this Institution; Government should therefore support it: Not indeed by Attempts to compel the Acceptance of Bank Notes; this would be equally unnecessary and unjust, but merely by receiving a Medium, the Value of which is unquestionable.
The fourteenth Article contains that common Provision against Counterfeits, which the Villainy of a Part of Mankind has most unhappily compelled all Governments to make in like Cases.
To those acquainted with the Subject-- It is unnecessary to observe, that when the Credit of the Bank is fully established, and it is known to possess considerable Funds, the Notes will not only have an equal Currency with Gold and Silver, but even be preferred to those precious Metals. These Notes are more portable, they are not like hard Money, liable to be clipped, or otherwise fraudulently reduced; the Care taken by Bankers, for their own Sakes, and the private Checks they use and continually vary, provide much more effectually against Counterfeits, than can be done by any Kind of Carriage, and the Certainty of receiving Gold or Silver on Demand, takes away the Possibility of a Depreciation.
The Credit of the Bank, from these Circumstances, has always been very great, in every Country where Banks have been established. It is therefore almost reduced to a Certainty, that it will be so in America, for in all Reasoning on this Subject, our surest Guide is Experience.
To prevent the Bank from abusing public Confidence, the 11th and 13th Articles are provided, by which the Superintendent of the Finances of the United States is enabled to see all their Operations, of Course from the deep Interest which Government must have in the Integrity of their Conduct, he will take Care, that they do not swell their Paper Circulation beyond the reasonable Bounds, which their Capital will justify.
The Congress having entered so fully into the Force of this Reasoning, as wisely to provide for the third Resolution against Attempts, which private Persons might make of a similar Nature, and with equal Propriety, have extended the Restriction only, during the Continuance of the War, leaving to a future Period the Provisions which may then become necessary.
The fourteenth and fifteenth Articles contain cautionary Provisions, equally beneficial to the Corporation and to the Public at large,--Provisions, which are certainly founded in the most evident Justice-- For, however proper it may be, to mingle all possible Mildness in the criminal Law of a Country; it cannot admit of a Doubt, that the flagrant Breach of the greatest public Trust, ought to receive the extremest Punishments, which can be inflicted by human Laws.
To ask the End, which it is proposed to answer by the Institution of a Bank, is merely to call the public Attention to the Situation of our Affairs. A depreciated Paper Currency has unhappily been the Source of infinite private Mischief, numerous Frauds, and the greatest Distress-- the national Calamities have moved with an equal Pace-- and the public Credit has received the greatest Injury. This is a Circumstance, so unusual in Republican Governments, that we may boldly affirm, it cannot continue one Moment, after the several Legislatures shall have determined to take those vigorous and effectual Measures to which the public Voice now loudly commands their Attention. In the mean Time, the Exigencies of the United States require an Anticipation of our Revenues, while at the same Time, there is not such Confidence established, as will call out for that Purpose the Funds of individual Citizens. The Use then, of a Bank is, to aid the Government by their Monies and Credit, for which they will have every proper Reward and Security. To gain from Individuals that Credit, which Propriety, Abilities and Integrity, never fail to command.
To supply the Loss of that Paper Money which becoming more and more useless, calls every Day more loudly for a final Redemption, and to give a new Spring to Commerce, in the

Moment, when, by the Removal of all Restrictions, the Citizens of America shall enjoy and possess that Freedom for which they contend.
In return for these Benefits, the Subscribers, as they will be entitled, so they will receive that Advantage from this Investment of their Capital which has invariably attended the Business of Banking in every free commercial Country.
It might be expected that some Address should be made to the Patriotism of the Public on this Occasion; but this is needless; let the Measure be examined, and let it be supported only, so far as it is reasonable, useful and just.
ROBERT MORRIS,
Philadelphia, May 28. 1781.
POTSMOUTH, June 25, 1781.
The following Intelligence, we have in an Hand-Bill directly from Boston.
Authentic Intelligence from the Southward to the 15th Instant.
SINCE the enemy formed a junction of their several corps in Virginia, nothing material has happened in that quarter.—On the 10th of May, Lord Rawdon was compelled to evacuate Camden with precipitation, leaving behind him three of his officers and fifty privates, who had been so dangerously wounded as to be unable to be removed.—On the 11th, the strong post of Orangeburg surrendered to Gen. Sumpter; a Colonel, several Officers, and upwards of 80 Men were made Prisoners.—On the 12th, the garrison of Fort Mott, consisting of 7 officers, 12 non commissioned officers and 165 privates surrendered by capitulation, to Gen. Marian.—On the 15th, Fort Cranby capitulated to Lt. Col. Lee, the garrison were made prisoners, and consisted of 1 Lt. Col. 2 Majors, 6 Captains, 6 Lieutenants, 3 Ensigns, 1 Surgeon, 2 Serjeant Majors, 17 Serjeants, 9 Corporals, and 305 Privates. Large Quantities of Provisions and considerable stores were captured at some of the posts. At the same time the posts of Augusta and Ninety six were invested by Gen. Pickings: And Gen. Greene on the 16th of May had determined to march the army to expedite their destruction.
PHILADELPHIA, June 5.
A vessel which arrived here on Sunday last from St. Thomas's, after a passage of 16 days, bring us the following account of the damage sustained by the British fleet in the late engagement off Martinico:—The Russel arrived at St. Eustatia two days after the action, with five feet water in her hold, & landed 130 wounded officers and men. The Torbay and another ship arrived at St. Kitts, the first having received seven shot between wind & water, and 30 odd in other parts of her hull: An officer of this ship wrote to his friend, that the above ship had discharged 40 broadsides, and leaves it to his friend to judge the damage the fleet must have sustained, when only that single ship had been so much hurt.
This vessel also brings us an account of the landing 8000 French troops at St. Lucia, & that the reduction of that Island was very generally believed to be not far distant.
Extract of a letter from a gentleman at St. Kitts, to his friend at _____, dated May 14.
“An express arrived here yesterday, to Admiral Rodney, acquainting him of eight thousand French troops being landed at St. Lucia, Rodney is now to windward, or any where, but where he should be. The Torbay is at old Road, and four more of the fleet at Mountserat watering.”
Extract of a letter, dated Newcastle, 18 miles this side of Richmond, May 28, 1781.
“Yesterday was a week since Cornwallis joined Arnold (Phillips being dead of a fever) at Petersburg, the latter had 3500 men, the former 1500. The Thursday following they marched down opposite to Westover (twenty five miles below Richmond) where they were reinforced by 2000 men from New York. Their whole force consists of at least 6000 men, now said to have crossed to Westover, & in motion towards Richmond. The Marquis de la Fayette evacuated Richmond last night, & retreated to Winston's bridge, about 8 miles above Richmond inclining to the north. He has about 1500 regulars and 4000 militia, and will be able to make a stand as soon as the reinforcement of the back militia come up, who turn out in great numbers, well armed with rifles & muskets. Col. Campbell is at head of a considerable body.”
Extract of a letter from Bilboa, March 22.
“I have just seen a royal decree, by which the trade is opened on the coast of Caracas,
in Spanish America, not only with Old Spain but for the friendly colonies of America.”
BOSTON, June 21, 1781.
The following important Account was brought from Bilboa by a French gentleman who arrived here since our last.
Extract of a Letter from a French Missionary, dated at Lisbon the 14th of April, 1781, to the Count du Mountmorin.
“ON the 13th current two Porteguese Vessels arrived at this Port from Madras, on board one of which was a French Missionary who gives the following Account, which is also confirmed by the other passengers. At the time of our leaving Madras which was in the Evening of the 23d of October the last Year, the English were in the most critical Situation. In the Month of June Heider Ali Kan marched to the Coast of Coromandel with considerable Force, and took Porto Nova, and other small British Settlements in that Quarter; destroyed their Factories there, and plundered all their Possessions. He afterwards directed his Rout to Pondicherry, which the English abandoned on his Approach, and on which he displayed his Flag, shewing honor and Humanity to the Inhabitants. The English sent Ambassadors to him, of which he took no Notice: from whence they concluded they must prepare for War. Accordingly while Heider Ali was besieging Arcot the Capital of the Province, they formed a Camp at a small distance from Madras, to act as future circumstances might direct. But Heider Ali had taken the precaution to lay waste the Country fourteen Leagues round that City, to cut off their subsistence. In the month of Sept. the English with a great part of their troops advanced to give him battle. The result was fatal to them: Marratas having surrounded them with such Courage and Vigor, that before the remainder of the British troops, at two leagues distance could arrive, they killed eight thousand of their disciplined & bravest Sepoys, eight hundred Europeans, and forty Officers, 47 others would have perished at the same Time had not the French in the army of Heider Ali interposed to save their lives. This defeat entirely disconcerted the English, and produced the greatest consternation in Madras: Where a resolution was immediately taken to call the troops from another Factory, on the same coast. But before those troops could embark, the Sepoy Officers represented to the English that they and their Soldiers were engaged to serve only in that part of the Country, and not at Madras; and that they had their Wives and Children which they could not abandon. The Answer the English made, was to treat roughly the Officers who made this representation; upon which the Sepoys immediately fired upon the British Officers and killed many of them: after they repaired to the Governor's House, forced the Gates, took the Military chest, and went off with it. This is the first example of Mutiny or Revolt which the Natives have ever given.
“To remedy the want of troops, the English have enroll'd at Madras all the Merchants, traders &c. of the town, instructing them with great diligence in military Manoeuvres; tho' little dependence is to be placed upon so feeble a resource. When we left Madras, there was a great scarcity of Provisions in the place; and the light troops of Heider Ali took every day the few Cattle which the English had between the city and their camp for the supply of both. The French Merchants, Armenians, Moors and others who had any property, were preparing to leave Madras and go to Pondicherry for security.
“Some days before our departure from Madras, the English received accounts that threw them into consternation: They were careful to conceal them from the Strangers; but we knew they imported the arrival of a French Squadron in those Seas from the Isle of France. We knew also that their Fort Tallycheri was taken by Assault, and the Garrison put to the Sword, and we further knew of the loss of their late acquisition in the Guzarote.
“The state of affairs in Bengal is not at all more pleasing. An Army of sixty thousand Marattas was in the Environs of Ballaston, which had given them the greatest uneasiness. The Funds of the English were exhausted and they supported themselves entirely by fallacious loans drawn from the rich Banians of the Country. The greatest dissention prevailed in their councils & among their commanders; between two of whom a Duel was fought with Pistols two days before he left Madras.”
Clocks and Watches repair'd & clean'd by Samuel Place,
At his Shop in the Street between Sherburne's Wharfe and Long Warfe, Warranted in the best manner; he has purchased all of the late Mr. Aris's Stock for that purpose, any Gentleman from the Town or Country who may favour him with their Custom may depend upon being well used, he has for Sale Keys, Springs, Christols, Seals, &c. &c.
He also carries on the Goldsmith and Jewellers Business as usual at the above place.
Portsmouth, June 16, 1781.
***** STATE OF NEW HAMPSHIRE, ff.
To all whom it may concern.
NOTICE is hereby given, that LIBELS are filed before me, against the following Vessels, viz. in Behalf of Thomas Manning Commander of the private armed Sloop FOX, and all concerned therein; against the Brigantine ADVENTURE, of the Burthen of 50 Tons, her Cargo, Tackle, and Appurtenances, Neil Campbell, late Master—and against the Brigantine EDINBURGH, of about 75 Tons burthen, her Cargo, Tackle, and Appurtenances, Alexander McCoekrie late Master.
In Behalf of Nathan Nichols, Commander of the private armed Ship ROYAL LEWIS, and all concerned therein—Against the Brigantine JUPITER, of the Burthen of 60 Tons, her Cargo, Tackle and Appurtenances, Samuel Simes late Master;—In Behalf of Jeshah Shackford, Commander of the private armed Ship DIANA, and all concerned therein, against the Brigantine ADVENTURE, of the Burthen of 70 Tons, her Cargo, Tackle, and Appurtenances, John Stealing late Master; which Vessels are said to be captured on the High Seas about the 1st Day of May, and brought into the Port of Piscataqua—For the Trial of the Justice of said Captures, a Maritime Court for the State aforesaid, will be held at the State House in Portsmouth, the 9th Day of July next, at 11 o'Clock in the Forenoon, when and where any Person concerned, may appear and show Cause (if any they have) why the same should not be condemned, and decreed forfeited.
JOSHUA BRACETT, Judge Portsmouth, June 18, 1781.
Taken in Execution, and to be SOLD by PUBLIC VENDUE, on Thursday the 25th Instant, at the Printing Office in Portsmouth, 10 o'Clock A. M.
A SADDLE and Bridle, a large Iron Pot, one Sword, one large Oval Table, and one large Mahogany Waiter. Portsmouth, June 23d, 1781.
***** To be sold at Public Vendue,
On the 17th of July next, A HOUSE and LAND in Portsmouth, formerly belonging to Joseph Abbot, about 30 by 60 Feet of Land, adjoining to Land of John Lewis. To be sold on the Premises. Conditions to be known at time and Place.
To be sold by public Vendue, For Hard Money, or English Merchantable West India Rum, at Six Shillings per Gallon, On Thursday the 5th Day of July next, 10 o'Clock A. M. on Sherburne and Langdon's Wharfe,
The prize Brig. Adventure, Burthen about 130 Tons, and the Brigantine Edinburg, about 100 Tons.
Also a Quantity of SALT, Iron Stoves, &c Portsmouth, June 25, 1781.
A few Hogsheads Stone Lime, To be sold by SAMUEL BOWLES in Portsmouth.