The enquirer. [volume] (Richmond, Va.) 1804-1815, 1814-09-21
FOR THE ENQUIRIES.
A SCHEME, suggestedf for the maintenance
ofhe Public Credit, by iirovieiing
Fund and Circulating -kisdiumi,
entitled 20 General Conf
dcnce.


saad millions of dollars ; which shall, by law,
be a pledge for the redemption Of all the notes
which SAID company shall issue: That tins
Company's stock shall consist Of shares of 500
dolls. or two millions OF shares That one per
cent. in specie or cash, on each share shall 5e
paid iii at the tine of subscribing: That this
COMPANY shall have only one sett of Directors,
with a President, Cashier and other proper
Officers, to reside at the seat of Government
That the notes of this company shall be re-
deemable, without interest, at the end of 20
years after the war shall be concluded That
they shall be authorized to issue annually,
S5U0,000 in notes oi 25 ccuts and SO cents,
each I; 81 100000 in notes of one dollar each
and Sl,0CO,00O I'D notes o. two dollars each
and any other notes not OF less value than
tive dollars each (: i hat it shall be death to
counterfeit the notes of this Company That
any person convicted Of attempting to deprc-
ciate the credit of these notes, OF Offering to
sell or purchase them by direct or Indirect
contract, at less than their nominal value,
shall be subject TO imprisonment for two
years, and fine of $4,000, and be farther
confined for five years, failing to pay the pen
atty That the notes shall be legal tender
IN payment OF all debts or contracts made or
to De made, and IN payment OF any public tax
es due to the State or General Governments
Here it will occur, that the State Govern
inents must, by law, enforce al parts of this
act of Congress j That this Company shall
lend only to the General < State Governments
That they shall be compelled to lend to the
General Government, if required, one hundred
millions annually OF these noleS, land may lend
to the State Governments in all, twenty 1--WE
millions annually-That, on the date OF the
Receipt by the United States OF Individual
oeates, OF any OF the company's notes, a GER
titlcate shall be Issued to them, by the proper
cthcer, bearing interest AZ the rate of six per
cent. per annum, and shelving on IT'S face that
the principal of the loan is TO be returned in
twenty years after its date ana the interest to
be paid quarter yearly either in their notes
or these of any Bank of Credit in the Union
That the company shall not be Obliged to
redeem their notes until twenty. wears after
the last loan made Co the union-whiie tie es-
taxes pledged shall always remain liable for
those notes nntll they are fna " redeemed
Some other details will be necessary, but they
are nor required to be noted in this general
outline.
Reasons FIR This scheme.
1t presents temptation to- Commercial men
and to all men who have credit, OF property,
and particularly speculators.
1t requires only five dollars to be advanced
on each share, or in all SI0,OOO,O0O. If
Gas the government will require) they lend
SlO0,0OO,00o in the first year, they will get
90 rs per cent on the capital adyanced-n
the second and each succeeding year of the
war, that rate of interest will be increasing
and if the war last five years they will receive.
OF the end Of the fifth year and for twenty
years after, several hundred per centum on
their money advancech Such speculation
never was offered to the most ayaricicus sha-
vers.
1t is necessary to enquire how this. will op-
crate EOCletN lar af,Tn ~
Inent
The government, in Pecuniary point of
Niew' cannot suffer; because it is now giving
per cent, and yet wants money.-We must
consent to a degrading peace, which will
make every American ashamed of his Coun-
try ana hate tosee Newspaper or a Histo-
tory ofthe present times, or we must have mo-
rey.
Give us money, and our excellent mateii-
ais, omen OF the highest. order i'll patriotism
aud bravery am of unequalled vigor,) Will
soon give us Victory.-I am afraid the monied
Interest among US has too much weight, to per-
mt us to nope Tor l716 sacrihces.-We must
ensnarc x involve tine interests of the niouied
men. ii tie result OF this, brings us success
victory ard Name chen pride will come
TO our aid. These will give Us. honorable
peace-and we must rest cur hopes of future
good government, on the first principles secur-
co IN our constitution, with which, viltpous
men will forever assail, those who nil qradu
ally bring us to another form OF government
fear.
AS the free currency of such paper. unde
preciated, is the important object in view.
II is necessary to say somethin,, as 90 us title
60 general credit.
Banks OBTAIN credit OIL on pecie capital,
which may be, and ii;1. been drawn o,,e in a
great degree, while there does not remain a
cnrrent specie amount, within Certain Ios-
ti1cts, to restore that Capital, except resort
DC mad to an entire Cessation of bank accom-
mediation such an attempt in war, would
produce ruin To bank Customers of the first
fortunes, and that wodld ruin or break the
btnks. In these, no property of stock-hod-
crS IS pledged, except for their respective in
terestS, and Stockholders are Frequently men
whose whole estates consist in their bank
STOCK ; 80 that, cle stock is the ONLY security
of Che holder of Bank Notes. The Bank Stock
holders who also hold otner valuable real es-
tdIes may pass the latter to others-and thus
10 security will remain for unpaid notes of a
'ank after stopping payment. in the plan
propcseti, the real estates arc to be moftgag-
td and sale OF them viii not divert the Sc
Curity All personal estate that can be itcnti6-
etd VA be equally liable, into whatsoever
hans II may pass.
ne security, then. which this COMPANY will
tier 'or the payment OF IFS notes, will fal cx-
ceed lhal Which any Bank Car Ciear--ud 50
tIwould aNthori-e them 70 issue IS 900. Go0
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