The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-02-15

ter, for the advantage CT the government depo-
sits, and for the universal credit aud extensive
circulation it gives to its paper, which recei-
vib'e for Ill debts aae the United States. As
there now appears no probability OF the extensi.
On of that charter, 4 d AS the deposits will be
soon withdrawn, and in all probability placed in
| s. ate banks, am not willing they should have
that privilege without paying an equivalent. Il
appears To me that those interested in the
state banks, that expect TO be benefited by the
deposit of the money of The u. States, in their
opposition to the rene al of the charter of the
bank OF the United States, have manifested
strange kind of patriotism and, as it appears
to me, of the French kind which is love of
money more han 4 love OF country. am not will
ling they should have this money for nothing,
when it is worth at leas, six per ccnt. to those
from whom it is collected. The state banks tina,
may have those deposits will not only derive
very great advantages from them, by enabling
them toincrease their discounts and dividends |;
but it will give to their bills more extensive
circulation. This money is certainly worth 3
per cent to the state bsnks. If then our depo-
sits should be only three milions at that rate the
interest would be ninety thousand dollars per
annum, and if we should release our commerce
from the operation of our own restrictions, it
might soon amou.t to ten millions, which would
give an interest Of three hundred thousand dol
lars, sum worth saving ! find considerable
sum of this money in the bank at Pittsburg, and
from that neighborhood we have had re-
monstrance against the renewal OF the
charter of the United States Bank. Another
considerable sum is in two banks in the state
OF Rhode-Island, at present amounting to Sc
lventy-eight thousand two hundred and twenty
six dollars.
This is worth three per cent. to them, and l
will give that interest for it with the same ad
vantages and indulgences that they have had,
l and :.
Ject rs to provide by law for the deposit of this
money, by giving it to those banks that will give
the government the most for that privilege, and
afford ample security tor the same. tbs will
prevent the Secretary &C the Treasury from ha-
wing 1t in his power to give exclusive advantages
TO certain banks, and will relieve him from part
OF his responsibility and from the charge of par
tiality' And tor that purpose l beg leave to
submit the following resolution, which will give
the banks OF all parties an opportunity to com
pete Tor tins privilege and they that will givs
the most for 1t will have it, and the nation be be
Melted by the money:
RcsolSed, That committee be appointed To
enquire INTO the exp, diency of providing and
directing by law that the deposits of the mo.
MES of the S. DE made in such of the state.
banks as shall pay the most for that privilege, 6.
comply with such terms and conditions as NAV
be necessary TO secure any monies which may be
placed IN the same.
| mr. EPPes was opposed to the principle OF
this resolution. He thought it improper tba,
the deposits OF the public money should be Sc,
up to the highest bidder-,he subject was alrea
dY generally referred to the committee OF WAY.
and Means, or he would not object to reso
luton for enquiry. Mr. E. stated the provisi
ons OF The law on the subject of deposits.
| M Love hoped the resolution would pass.
Al the suggestion of Mr. GARDENER the reso.
| luton was adopted, and referred 10 the commit
tee of Ways and Means.
NON-IMPORTATION.
The House resolved itself into a committee
OF the whole, Mr.. DEsHA in the chair, on the
bill supplementary to the act concerning com.
nercial intercourse between the United Stat 9
and Great Britain and France and their depen.
denotes and for other purposes
Mr. ,Eirott moved amend it so as to sus
pend altogether the operations ofthe non-,nter-
coursr law. In support Of this amendment, he
spoke at great length, nearly three hours.
| Mr. Rhea moved to strike out the whole o
the bill except the enaotng clause.
The committee then rose, reported progress,
and obtsned leave to sit again.
Mr. Lespis reported bill making further APP
preparations for completing the Capitol and for
other purposes 1.-THE bill is in blank
The bill was twice read-a motion by Mr.
BurspeH to defer it till the third March next be-
ing negatived-and committed