The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1811-02-21
solicit Bsidsh sub fec. for pecuniary aid. If

soncu brush SUBJECTS Iof pecun'ary AID.
pubiick opinion is respected, the present
charter will never be extended wholly or IN
fart a new charter will not be offered in
market, but many intelligent Republicans
aDxlOus for supporting the revenue and the
publick fsilh, and resolved TO have funds, in
case Of inevitable war, are disposed to have,ir
lieu OF the present, REALLY KATIoNAL
BANK.
Constituents will yield to the supericur In
telligence OF their Representatives in Con-
gress. Great and merited Difference will al
ways be paid to the opinions oil the dis,in-
guished officer at the head of our Treasury
Department. The term imterious necessity
includes a multitude OF unde fipeabIe and oil
course unanswerabIe arguments, which will
be marshalled in favor OF really national
bank.
Though he closing Of The u. States Bank,
and If ell fhe Other bank woufd 6r for me
lasting bcnyft of fhe nation, yet publick opin-
ion will acquiesce In a measure, which dispo-
ses forever OF dangerous arisIocrAcy, and
places our des linies I'D the hands of men, n,who
viii consult the safety and happiness OF the
people.
A national bank of 80 millions has been
proposed. his probably exceeds the amount
of the specie IN the nation. Such capital
would increase the evil Of Indebtedness, yet
Il fom its enorml,y d part of it would be Il
times une m ploy ed, w hen bad customers would
flock in, As they do in an overstocked Store
in dull season. A bank of ten millions
would command all the deposits and ciIcuia-
tion OF paper, which could be desired with d
capital OF thirty millions.
~t.I ,txo
at an interest OF s pr. CT. ten miliisns, with
| which to establish bank. The profits OF
such bank would be 100000 dollars annually
over the amount OF interest. These proh,s
would so to al the people OF the u. States.
The President, by and with the advice OF
the Senate, might appoint the officers.
VIII II be said that ,nch stock would not
be as profitable as if managed by men, hav-
ing private interest III il But in Repub-
hck we must repose confidence in pusiick OF.
ticers and We hase had conclusive evidence,
that men IN high stations may st safely en
trusted with VIVA, is more valuable than dol
lars and bank biis.
Suppose, alter an organization Of really
national bank, an offer should De made to the
stockholders of the present bank 10 lake their
stock on the 4ih oi March next. In such
Case, new books To be opened new bills is
sued thc bills Of this bank TO be no longer
receivable tor y. States bonds and dues, but
To be pad, as fast as presented, by the new
bank notes, when due, TO be renewed in
fun Oh approved security, OF, it deemeore-
coIiectibie' delivered to sass 4 fang ments OF the
sent o'nA s .e Those Of the existing bank.
"e" ,'his form the concerns OF the dissovnS
III would be closed without unnecessary
loss to the tockho!ders or wanton distress OF
the customers, and thus we might ayaid es-
tabiishing a corporation mighuer than the
government, aud II Que third ot the annual
profits should he reserved to the u. States,
and two thirds secured to the Individual state
according TO ,puation, we might strengthen
the bond Of union.
III a bank Of fhr y. States must be establish
I'd, something in this form may afford ration
al aid to our commerce, agriculture and man
ufactures and il the boosted talents and in
teyrity of the broksrs, who manage tho pre-
sent bank, shall De wanted, they can doubtless
be had for money,
The consent OF refusal of the stockholders
cannot v.iy the policy oi such measure
Suppose them To refuse, let them employ the
short remnant OF their days in producing con-
vulsions, which shall be durable warning to
Congress, never to intrust the dearest con-
Germs Of the United States to combination
of foreigners and fsderalists.