Portland gazette., 1805-06-11


red, in which officers, with unfeeilng ie
verify, have take, the mott necefary art
cles of apparel and furniture, and exPote
the debtorand his family to immediate iul
fering. Tuch cafes have happened with
in your knowledge, YOU will Probabl
think it 7eafonable to exempt from ieizur
certain articles which are necedary for u
holding life.
CommiilicnerS have, on leveral occc
fons been appinted, at the reauelt OF tn
Legislature, and with the content, {
the parties interefed, FOR the purpol
of quieting fettlers on lands in tie Eater
parts Of the State; in moa Of the cafes I
which their commil1ions referred, the
have been ableto efea an amicable agree
ment; but divers difpuses Of this kind liil
remain unfettled. The tranquility oftha
part of the Commonwealth. and the hap
pinels of many individuals would Be great
iy promoted by a fpeedy accommodation
.ofthofe difputes !; and | fhall be happy K
concur with you, Gentlemen, in an
mealures, conGitent with the rights Q
the parties, which hall be calculated tC
effect this deiirabIe Object.
The operations of banking, while IN
der fuitabie reftraints, may undoubtedly
be ufefui TO the State, by rendering it
capital mere active than il would DC 9th
erwiie. Petitions, have for feveral year
been prefcnted, at almolt every leflion Q
The legilature, for the incorporation 0
Banks. lffuch applications are repeated
it will be queltion Of importance, wheth
er an addition TO the preleEt .numbe
would bea public benefit. Many Of th'
bills of other State Banks, with whoi'
circumstances and management we ART
wholly unacquaintcd, circulate here; anC
the capital flock of the Branch Bank il
ieyen hhndred thouiand dollars. Wt
have befdcs ia this State, twcnty-ont
banks, which are allowed by law to iilut
thirteen million dollars by their return,
It appears, that the whole OF the debts due
TO them did not amount to eight millions
If the exiting Banks are authorized to loaI
a greater fun than the circulation car
employ, the aggregate profits Of banking
would not be increafed, nor would any ad
ditional afifance be given to trade fhcuIc
a number Of other banks be, intituted
they might indeed emit an additiona
quantity Of paper but the furplus would
foon be returned to the ieveral Banks, anc
exchanged for gold and filyer TO be ex
ported. New Banks would not increaft
the quantity of fpecie, they would only
caule 4 fubdivifon Of il "; and if they
ihould be induced, from the Of gain, or :
difpofition 10 afford extraordinary accom-
modations, TO dilcount TOO literally, III,
banks theufelyes would be endangered
the and directors might be compelled
to diminifh the di(counts 70 as to occa Fl
on very ferrous and extenlive Commercial
embarrahments.
1t has been faid, heretofore, that fh,
bank diaidends were higher than the lega
rate Of interea, and, therefore, unlels pc
-titioners were INDUCED with new incor
porationS, the\ law which forbids ufur7
hould be repealed. a meafure Of th,
kind might be more injurious than an,
propofed addition to the number of banks
If money was borrowed only or. calcu
lation Of profit from commercial enter
prizes, the borrower might be "a feiy trul
ted TO make his bargain with the lender
but 2 great part of the loans in The countr,
are TO perfons embarrahed frommisfortun,
or indilcretion BY arepeal of the law a
gainf uiury they would be left 10 the mer
cy of their, creditors, and avarice woulc
prey without control upon ignorance anC
diltrefS.