The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1809-11-15

favour Of Great Britain. than any other, or
perhaps all the other means that have been
applied to thar purpose. The directors arc
accused Of partiaIisy in loaning thc money
belonging 10 the institutions TO partixans OF
Great Britain-to the exclusion of those who
are the avowed, acknowledged, and earnest
supporters of American independence /; and
the curious phenomenon is daily exhibited Of
bank named the Bank of the United Statcss
regulating It's money operations by political
opinions and principles. IL is accused OF
making loans to its Neutrality-suspicious. of the
British party, merely on the security of Nance
when the property of those persons, or rather
the money lent to them by the banks, is sent
on speculative expeditions to foreign coun-
tries, and the returns OF reimbursement SUBJ
icct 10 casraiities--whilst the American
merchant dares not avow his fidelity to his
own country through fear OF prescription
and the manufacturer and artizan, who can
slcw property on the spot, :re refused due
proportion Of bank accommodation (; this has
the cffcctof supprcssing domestick industry,
aswcll as virtue, and encouraging the impor-
tation Of the manufactures OF Greaf Britain,
and tho pcrpetuation of its palsying inHu-
ence.
1t is ascertaincd that the fsderaHsfs or Bril-
hsh harhsans, through the interposition and
threats of ban! directors, have procured the
signatures to their memorials and remon-
srrances to government, Of vast number Of
persons, who wholly disapprovcd Of what,they
put their hands to, and that by the threat of
not discouRting the paper of those who oppo-
scd their political measures, great many
citizens have been induced-lto drop off from
their original political ranks, on publck ques-
tons, some to become proHigate opposcrs of
their own government and others to become
totally neutral to pubIick affairs.
Under such circumstances then, is it not a
matter of establishment, that so many citi-
zcns in the capital cities, remain faithful TO
American principles for there is hardly
lawyer, physician, or clergyman IN our
seaports, who does not obtain dividends from
the banks. know not more unhappy slave
II know not amorc just object Of compassion
than the man who from day to day holds an
existence on the tenure of the mercy of bank
directors. Not only bis own existence, but
the existence of his family, depend upon the
maintenance of his crcdit.--His credit de-
pends upon discount at bank--that discount
depends upon the caprice of a director, and
can itbc wondered at, (when men, whose ac-
lions have through whole life been spotess,
will in the desperate hope of preserving their
Credit, commit the most dishonourable deeds,)
shat man will for the same purpose, put his
hand to an instrument, that whilst it saves his
family from ruin, produces to hin only the
self reproach of trcachery to his honour, to
his country, and to publick virtue.
But when, accusations are preferred against
men, their characters are examined. they
are such as have been uniformly opposite to
the nature of the charges brought against
them, they are generally acquitted in the
puDaick opinion. Nor In such case should a
few errours committed through ignorance or
passion, be sufficient cause for condemnation,
on q general ground. We shall therefore, in
the succeeding discussion, cndcavour to ana
iizc with condor, the materials which COM
pose the bank direction. II WHIG.
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