The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-01-17
5.SO0.00O 1O,965,256

Nearly eleven millions lent on capital of
hve millions, three hundred thousand A Sc
rious disappointment to men. who erheesed
no hr2ff Republics are said 70 be migrate
fui. We are certainly SO on the present &C.
cason.
The memorial next proceeds to associate
.Ge oank with the government, claiming to
be necessary and indivislble part of it,
showing the in sufficiency of state-banks to
answer the dignified purposes of their insti-
tuition, and after repeating, for the tenth time,
tue awful calamilies. awaiting their dissolu-
ton. they commend the hard case of monied
ar'stocracies and of rich widows and or
phans, interested i'll their stock, to the wis
dom and justice of the legislature they a.
gain hold up the awful terrors of"a general
arrangement Of credit" and pray for re-
newai of their charter.
Now, may 1T please the Congress, this
bank memorial is for grant. worth to the
stockholders six millions and to federalism
and British influence sixty millions. and If
the memorial contained the truth, there could
have been no occasion of presenting it, but
You, IN your wisdom and superior intelli-
gence. would have humbly petitioned David
Lehox, president, aud the directors and
stockholders OF the United States bank. 70
please 20 accept renewal of their charter
Tor eternity, or such short r. term, as heir
honors should appnin,.
BUT that memorial does not contain the
whole truth. All it. claims for services are
more Than balanced by enormous prof S.
It's threats OF rum to our establishments in
CAST oil winding up, are balanced by the
consideration. that in their collections o..
fften millions, the stockholders VIII cansu t
lheir own Interest; they will not collect be-
yond the ability OF their deb,ors (; they will
prefer M paper of state banks TO private
notes, and they will not press the state
banks, so as to prevent their aiding the
debtors OF tine United States bank. When
ever this bank shall wi Ddraw from circula-
ting medium /fUe millions in bills, it must
pay tor those five millions in specie OF the
oils OF state banks, in either of which cases
the circulating medium will be restored.-
whenever the deposits of more than four
nlilhons shall be withdrawn from its vaults
they Will be either thrown into circulation
or placed in other banks. AS To their be-
ing drawn from the country, let it be recol.
iected, that foreigners do not place their
fuhds mere, to remain inactive, merely be-
cause the United States Bank is a safe
place OF deposit. But a portion of the de-
posts is by debtors of the bank, who will
easily adopt mode of transferring them in
the ledger As to the withdrawing OF se-,
ven mIllious by Foreigners, we Cannot fat.
ter ourselves with the prospect; but if that
shouid be the case, the government can
supply ITS place with paper, which will an
swer all the purposes of specie for all bust
ness within our own country We regard
the repeated alarms in the memorial as NOT
only groundiess, but as kind of threatening
iil-suited to your dignity and our independ
ence.
Inc bank memorial is public declara
uon, that me government and people of the
United States are held in duress bv the
memo1aiists, and that the continuance of
our independence rests their willingness
to Continue their bank operations. IL con
ta'ns an insulting history of favors to ms
greater than their royal master ever urged
upon the colonies 1t declares, thar. in fhe
management of the power of the purse for
~ years, 1t has done every thing for u.s. aud
mas rendered itself necessary to our future
existence. Its silent language is, Though
" we failed to conquer YOU by the sword
" we hold you suspended by the purse
" strings We demand your gratitude, e.?
" such use of our funds, as we have con-
" descended to permit you to pay for and
" now II the power is to be Withdrawn from
~ US, all your establishments of com nerce
" nnance, agriculture and the arts, shall
" fall with u.s.
This language is not from a band of pa
triots. who undertook to aid the nation in the
brst struggles Of seIf-government, but of
men who, by subtiety and intercession. OBJ.
tanned charter, and who have become
masters OF the headquarters of corruption.
through the ill-placed bounty of the first
congress. Their delay to close their affairs,
according to law. was not for public good
ouV I'D preparation Tor sudden onset upon
a short session of your honorable BODY. -.
Hence their weR-timed 8u6scrfhions to
some republican presses,-IIence the silence
OF federal presses, lest discussion should a
wake, IN your constituents, the spirit OF
I16' Hence the artificial depression of
STOCK, mt IN market: and the petitions from
interested companies ard individuals croud-
ing upon you. Hence the thronginc of your
avenues, and the artful sounding OF every
senator and member Hence the int,nati
thai "A mi rI