Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-09-14

A concurrence Of remarkable incidents,
IIuch as ii their full combination, will
probably never happen again, poured into
this country, during the convulhons 10
Europe, an abundance of cath. Such
firearms Of gold and filver no longer How
in upon our flores: the current has turned
and money is very precepsib'y becoming
fcarcer. Incidents may foon happen
which might render the fearcity OF money
extremely diarefling. The apparent
quantity Of money, in this county, IS
much greater than tie real quant'ty. As
the government Of the Individual itatss, as
we'll as that of the unlou, poaeiies the
power of eitablilhing banks, and OF multi
plying them indefinitely, the banking
fyaem has already been carried 10 an
unprecedented extent. Bank paper is not
money, but is only the representative OF
money its value and ITS currency depend
entirely on credit. If only one capital
Bank fhould fail it would lhake the credit
Of others if the banks generally fhould
flop their difcounts or reduce them nearly
TO the amount Of their capitals, very
diRrefing fcarcily Of money would i'm
mediately enfue. The fame would happen,
lhould iudden and general flock be CIV
en- to commerce, from whence the national
revenues are principally drawn. In COM
bining ard weighing all thele cireulntan-
ces, it fecms evident that a large addition
al deb, mutt be productive of very in
furious consequences to the nation ; and
that prudence dictates its avoidance, ualsk
there Aouldde certain prepea that The
benedts a,jfng from f6e bart@ated pos
JllEou ao,A ever balance TIE eOils, 7c5ieb
4vHl .Ro7v from the leG Of the pare6ays mo
ney. The annual interef of iuch debt
would be d great and conGant drain OF
cath from this country and paid TO
foreign nation, it would go where it could
not return.
1t is ALTO to be conGdered that the pre-
miles, for which the nations money is TO
be given, (New Orleans excepted will,
fer Aong tine, be productive of heavy
charges, without any benefits. If left to
remain unletted, the nation by this bar
gain will merely /" multiply points OF de-
fence :" for it will be bound in honor,
if not in interea, 10 defend any part of
its territory, however great might be
the expences which luch defence would
colt. If, on the other hand, the nation
lhould attempt fpeedy iettlement of its
newly acquired poatfions, mot to men,
ton the lois that would be (ufainsd BY thu
emigration offettlers from its preient ter,
ritory, who might be mare uisfuly eme
ployed at home,) its capitals would,
by luch an effort, be diverted from a much
more important channel - 'sithe national
expenditures would be increafed, in rear
ing and Importing infant governments
and G it is folly to believe that thofe new
iettlsnenss would Yield tothis country
compensation for her actual Outlets, unleis
it be after great many years"
In this view, which the memorial lite
/ las actched and exhibited, it appears thatf
the ,,sf wilderness, the poGedion whcreo
oy the o,;ted States is contemplated, will
Colt much 10 - purehsic, tomething 10
its defence, and nue. in It's fee;!ement /;
and thai" great many ,ars will pats a.
way" before it viii, in any neafure,
colnpenfate for sheic national oniIrts.
CALCULATOR.
14G-
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