The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1813-02-25
For The REPUBLIcAy.


1T has been a matter Of speculation with somc
what were t'e SYSTEM ofpocy adopted by ,hcgoven-
ment OF ths state, their rcpr, sentalivcs Con.
g.eAs--and whether they without any sys,cm
Let those who best know decide while We attend a
moment 10 the delcctabc speech of MIR. Potter, who
saic, hc knew very we'll that the government want
ed money and must have IT," This he renders very
doubtful ia The next Sentence" and whenever the
money was likely to be wanted, to give nstce iea-
sonable tilne," &c. by which i, sc~ms problema,ical
whether government was likely" TO be in want OF
the money.
to invest their money in public stock snsll have AN
opportunity 10 DO it. From whence does this ankle
~ proce,dl Dn! not ,,idllas have a fair oppor-
tun.ty In The last loan MIR. Potter I" said he was
opposed to issuing treasury notes, because it was
creating new system Of patronage and fayorilism
IN the Treasury department."
Commercial r,rn have much approved Of treasury
notes 5ut Mr. potters ancommcrcial sagacty has
discoveied an insurmountabe objection to them, 10
wir, Jealousy Of EspOrifsm Then follows Mr.. Pot
ters eIucidaon OF the banking system, il not with
the erudision Of Adam smith, is yet admirable 49,
~ bank that would not risk to lend an hundsed
thousand dollars in cash, and Immediately advance
the money, would risk TO lend million collars and
take these notes" II Air. Potter had an eye To the
bank OF which he is or has been director, with
capital OF fifty thousand dollars, that has
been out-done by the GIouces ster bank in risks.
person Of sensbility supposing Mr.. Potter to be
be troubled with melancholy aud phlegmatic aiiec-
tons, must be vastly pleased with seeing in what
spngbtiy manner his brilliant fancy has transported
the imagination from " government wants money
and must have" to the delightful transition Of" and
those banks must derive immense advantage The en-
sung year as they will have eposted in them six.
teen millions, TO be raised by loan, kvc millions OF
treasury notes, and twelve millions, supposed 10 be
received BY the revenue, by double duties, with the
money now in deposit, making in the whole, nearly
forty millions" All this money, or its repre-
sentative, (says Mr. Potter laying at least year,
which Is not at all improbable, IN Bank not wanted
and not called for by government, but obtained
iy to favor ths favorile banks is il possible the
three Banks NE has the honor TO represent should
have SD large portion OF influence not over the
Treasury department only, but the government )
" how iovely--hov commanding" always though,
until now, that banks, ike indiyduas, ac,uatcd
by their own interest Here is " AL immense advan-
tsye" adverted TO by Mr. Potter exclusively in favor
OF such banks disposed TO lend money to the
government LamcntsbIe indeed, that those banks,
which are not disposed TO lend money to government;
should forcgo that advantage.
have not leisure to notice the remaining beauties
in MIR. Pottef's speech by his own account he wrs
too honest to remain ir Congress in the beginning Of
Mr. Adams administrations Like Ia Mancha's
knight, lac has Ljffe Resf"-n that respect, lie is
always at home. So much honesty, wisdom and
goodness, might we'll be the subject OF immortal
sDng. anu like the Odyssy, begin
~ The s'ar for 1sisdom's curious arts rcnsrsn'd,
Lony erercis'd m asoes-------
w,sh soIac ono, having leisure wonld ascertain
the number Of instances in which Mr. Potter speaks
Of his own important self, in his speech.
A WING
Eors.-By reference to the speech Of Mr. Pot
ter, We find he has aJycricd 10 himself Just /sriy
times. susely tbs ~iil not be- called ego'ism