Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1811-05-16

CONGRESS.
INVITED STATES BANK.
IN SENATE.
rMr. LLoYD's Speech concluded

Sir I shall neither UcoPaoS
vour time, nor weaken this testimony Dy any
comments of mine. have now only 70 ash
tbe indulgence of the Senate whiie ! ioao's
thero w;th few additional observations ana
those chiefly of personal nature. MOST GER :
t,;nlv Sir. am not acting under the Dias OF
a,,, sinister influence, Or partiallty maavocat-
~ the renewal ofthe Charter OF this Bank.
Z, not oyyn share of the stock, nor nave
: a,,,,,ea on. for considerable time past, nor
A. owe 70 the institution dollar : lew
go s;,re WAS in the direction OF one OF Its
irancbes.-.the Bank in Boston---and was
,ef, out Of il with very little ceremony not
.ae,,ss had abused the confidence reposed
:, 80 Cor a, ,he time was left out OF the d.
rection did not owe to the BANK si'isio
cent. either on my own account, or as surety
for another, and ny accommodation at '"e
R,,k had never been large. WAS then
Young and possessed OF but little properly,
.,d r., enable me to exercise an independence
Of ,ction. which hope ever TO preserve, l
thought it proper to abstain in a considerable
de,ree from Accommodations to myself III
order that might be enabled, II necessary'
more freely to check undue accommodation"
tn others. Still, Sir, this was a conduct TO-
wards me not calculated to produce any Pc
cuIiar partiality for the institution. 1t IS t'ue
7 was subsequently offered, from source
which I respected, a seat again at the boara
Of Directors with the understanding that l
should retain it as long as ! pleased. Inns l
declined and should ever have deciihea 1t.
Although from these circumstances Il c"i','o'
be expected that should ieel any Paf'icuisi
regard for the Bank, yet still am oou.io ~
s;.v I feel no hostility towards 1t. l oe'ie'o !.
has I,een an extremely useful institution ana
from, personal knowledge OF the manage
ment ofthe affairs the Branch BANK at Dos
ton. 7 freely declare, that III my opinion IT IS
;mnoss;ble for the concerns OF any monled IN
stnrt;on TO be conducted with more correct
ness, integrity, and inlpartlai'ty---"ith mort
discretion towards the public, or greater s,i.-
~ towards the corporation which created II.
I knew the directors. They are honoorAnie
and est;mabIe men---and at the head OF the
r nix is a gentleman, in Essex Junto man per-
haps he may be called, who wouia grace any
statioA III airy country,
Sir, l have received from the most nuHie-
rous branch OF the legislature OF Masss-c husee'S
a request that would oppose the renewal oi
the Charter Of this Bank. receive the te-
ouest. Sir, with all the Difference and respect
which is due from to an expression ~ tAS
oninion Of that Honorable Body---lt has IN
duced me to examine my sentiments, to re-
weigh and deliberately reflect upon them.
Having done this and having come into Oh
fee, without an intirnation of wish Oh my
part for public life-vithout single stlpuia-
ton as to nv political opinions, or an indica-
ton of the course I should pursue, cam only
say, should not act, on question IN which
I considered the public interests as implca-
ted, in opposition to the convictions OF my
own mind, deliberately formed, In conse-
auence of the request or if you please lnstruc-
ton, Of the entire Legislature of the state OF
which have in part the honor to represent,
much as am bound both by duty and lnch'
notion to respect it, nor in consequence OF the
request or instruction of all the congregated
legislatures on earth / believe the renew
al of the Charter of the Bank will avert ma
ny evils, and shall vote tor it.
It will prob; bly be said, Sir, that the dis
tresses which will be inciden, on the dissolu-
ton OF the Bank have been greatly exaggerat-
ed, that city in this vicinity is ready to meet
the consequences and to set them at defiance.
Let it be recollected, that in the five New
England states, country for which it is both
my pride and pleasure to svow marked par.
TALLY, we have but one Branch of the Bank
of the u States, and that with capital OF only
100000 dollars. Surely, then, if a single cl-
ty, with population of thirty or forty thou
sand persons Can meet these consequences,
we can sustain thcm-but VS. shall undoubt,
edly suffer much inconvenience, not however
so great degree of it, as any other district
on the scabord OF the u. States.
Ii is possible, Sir, that apprehension may
have magni6ed the evils which are to flow
from the dissolution of the Bank---it is posi-
BILE, in this untried state ST things there may
be found power of expansion in the monied
market of the country, which will be equal, or
nearly equal, to the unexpected demand that
may be made upon it. Should this be the re-
suit, should be extremely gratihed to have
been mistaken. should rejoice in nay own
disappointment
For Freight for New York,