The enquirer. [volume] (Richmond, Va.) 1804-1815, 1810-12-27


a'u' would have been pvoducti We of trouble ha-
zard, and expense, 20 the government. and
would still have been liable to dsapponm.nt.
IL mas: by it's loans, eaabed the government
co"p,y punctually with its engagements.
wheh deficiencies or delays Ina We occurred N the
revenue and has thus enab LEI, it to maint ain
nWioiate the public faith and credit both NJ
nome and abroad. There have been peri ID,
~hen me nation found it necessary to borrow.
,a'9eY from TINS institution, and At one time
nal upon loan considerably more than three.
fourth parts Gifts active cspitI
II has, tor the accommodation of tho govern
| "'eh'' established branches at places dis ,,lyan-
tageous to ITS business. and from which no pro6t
was expected TO be derived
Nios' oi these operations have been attended
with Inconvenience, and with expense to IN.
oa'k, but they have always been periorm.,, ,y,l,
alacrity and heertulne,s.
! whist Your memori,iists thus reco,n, tl..
aias they have afforded. they feel no dispo.;t.
H 40 W ,or@et the advantages they have received
rom government in return. The support which
II mas gwen to the bank, and the confidence
~h'c, 1T Has reposed in il, founded upoo a
knowledge of its management and condition
nave conferred upon it stability, dignity and
a splendor, which lave prese rved its cre.li, I'm
susitcion, and have secured to it tha conf ,.ncn
OF Europe. we'll as America.
mus mutually aiding and aided BY tie fro.
rernment, has the Bank of the United States.
in' twenty years, continued It's operations .nS
| rs S".it tiihC ODl3ined the general
kno wledgemcnt. that its affairs have heeu
conducted with honour and dign;ty. viii
| imparliaiity and candor, with liberahty c, nru.
dence. p'"-
TO the original motives for the institution IF
this u unk, the success of exneriment 10 -
auued and with the existing proofs of its uses
and ITS services, every consideration of poIcv
ana Oh justice urge its continuance Indepsndent
or the positive evils its dissolution would ,,ro-
duce 10 the community, the government would,
1 at lanut tn,sf. 1.
AZ cast &c deprived OF those advantages it has
hitherto derived from it's existence unless Il
| could be supplied from some other quarter 81.
'her by The Banks established By the several
states, orby BANK upon foundation altope.i,ap
new: AS 10 the state banks, your m IN ,ri ,J,sts
are iuiiy sensible OF the benefits resulting from
es.Aoishneht' and OF their suffiGiency for
.He purposes VI their institution, IL. local ar
commodation of the places, in which ,bevex;st
| nnt the'r capitals are by no means sdeun,te To
the demands of the general government in
e"ie o! emergency; time when the or,lip rv,
o,at,i'S u 'heir own state governments, ,nd OF
IN" OWN particular customers would b., in
creased and entitled to pre- ference Neither.
couid the transmission of the public nonias
IRON one quarter IF the Uaion to anot,er he
eHected with sufii lent ease and dispatch or to
inc requisite extent, by banks of limited capital.
haVn's no connexion with, nor direction over
each other cr
NOR would 1t be prudent in the government
20 trust me dep 1sits OF its funds to the syteat
20 w'i!cn they sometimes eX ct, IN q VARIETY IF"
.''',ulohS' united by 10 com n IN bond, anil in
no degree responsible for each other ovar
whose conduct the g-nersl government could
nave no control; INTO whose rnan.p .ment md
condition, 1t could not legally 'enq,ir. and
"'"cH those INST tuti0ns, even # soosel. could
noe '1S az :nIn n"ni;ate. InIeDendeat Of The.
hazard 10 Viii n ne public monies mi-bt bs.
SUP .cted ~ misn 3gemeni Do vyer w,ujd h.,
~ tced IN iianis, winch, from want If resnouei
o:ltY' AID want OF control, might be used in
~. '0uS purposes
Il, edition he dignity of the gover,,n.ne,
seems TO require lis lis al operations , h,. IN,
uucteo lh'ohgh lie medium of an instituf,oo r..
gah'zsd by lLseTi OF whose ability TO ars,v., all
.ie purposes OF revenue and publ: credit no
aouot Can exist of whose stun. on and ~,
-ecdngs' Competent Knowledge can be lad
over whose conduct a sufficient deere. If .,,,.,oi
~ prevent gilful misconduct, shonld ey;s, "a
upon whose disposition, to sssi - the poy,.,ma,r
80 t''i'Ss 81 reliance may nc conf i-,fiv
placed Such AL institution IS the bank of t,e
ohted States, md such it will remain. E con,i-
-u' u III us pres.nt form The amount of Is ca
PN II gives 1t sufficient pOwei Its Situation no
i1chcaiiy communicated T. lil. treasury ID
'heht over Its proceeding The government NV
5eSses powerful cont. v The exten, of;,sd.
posts ofits dlspns ton 10 yieId every leritimu.
, 'oiat"'cH 70 .he government, 1t has given the
strong ST Evidences and to ensure the. c,ntinu.
ance Of this disposition, its interest and Ire -,
combine 10 "u'S
II national bank be thus conducive TO the in
teTest OF tie community, and of inheritance 70
t"e government, no OBVIOUS motive st,ppestsri,
aSh l" your memoriaiSts, against the continuance
VI 'ie present oahk AT any TIM, and especial
~ at tie present, when 80 large portion of A:
heFIcah properly remains unproductive In En-,
rope SO great reduction IN the amount of the
active capital OF the country as the dssou,i,n OF
Tue oalR would OCCASION, must be attended viii,
great and general injury, from the teDreciatior,
III the Value OF property, the stagnatijn rf ,,si-
ness, and the check to commercial ente mr. 70
winch would result from it And in st,,,,u,n
TIE Operations u such an .ngine, one of two on.
sequences must De produced either tn,t Il, d;s
c"" B'ng me debts due . Inc bank, great sacr
hces must be made, and every resource of ,ne
mel chant drained, III the failure tn INV lin
an rreParable bio ~ must be given To comnerc;at
creo't and punctuilty.
Mo- rs 1T easy TO calculate ;he effects which the
destruction OF the bank would roIuce. in the
los; u "ould occasion to the public revsnus IN
Charitable institutions, wido VS., CHI lrsn and n.
liners, INT rested in The sock from ,!,e nressur
20 winch the Otier BANKS must be i,.vitablv sub
Iccted from The want Of COilfid nee il would
create ~ the stability ofouf institutions &. f.om
the general derange ment OF credn
Under these views and Impressions vour me-
meriaiists solicit the renewal of their charter.
and upon the wisdom and justice of the lepsl,.
ture, ana It's regard for the rights and interests Of
Its ciuzels, they rely forts concession.
Signed on behalf Of the stockholders.
DAVID LENOX, Fyesident.
FAladelPhia, DECEMBER IOth, 1910.
u. ). BANK -AcArN