Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1814-04-07

nosnt which the bank capitals Of Virgi-
MIA are impaired by the price given for
their cbartsrs 10 the state, which is not
Hess than fronrsl6to 20 per cent.
/ Tie necessity fer the establishment Of
this bank in Alexandra, has never
been desnd By candid and disintefested
mcn-bat the present state OF the town
makes it peculiarly requisite at this
time. rhe great trade Of this town,
consist. in ttls agricultural products of
the country. The merchants have now
in their store houses, -four and other ar
| ticle, Of domestic growth, for which
there is no expectation or sale, to All a.
mount more than equal to the whole
bank capital Of Alexandra, while in no
other town north Of il is the proportion
OF agricultural produces on hand nearly
aqualte the bank capital. In Baltimore,
(, for example, the bank Capital excesds,
a, FIVE to one, the value of products pnr-
chased, if we may judge from the state
Of the ware houses, aad amount OF IN
spection. This circumstances accounts
flor the difference in price between pro-
ducs in Bsltimoro and Alexandria
(which is now equal to 30 per cent. and
tic time not far distant when the met
chants of the latter place must cease
their purchases from the tlrmer alto.
gether, unless they can receive aid from
additional bank capital.
A genera! vicv ofthe state of trsde IN
! its usual course in thisdswn, Will sho"
that it is entitled at all times, 10 smuch
larger authorised bank capital than 1t
now possesses, compared "ith the trade
of other towns, and we beg the attention
of the National Legislature TO the data
OH which this presumption is founded.
1t appears by tho report made by the
Secretary Of the Treasury, on the lsth
February. 1918, (pcrnaps The latest pc
Rod 10 which d fair calculation OF ex-
ports could be broughl) that these OF
drmeslic kind Of Alexandria, Tor the
| year preceding thst day, amounts to the
| sum n dollars, of l,557,t73 90
| The domestic exports of
all Maryland, s,e5e,os5 90
The same ofVirginia, to 2,9s3,493 90
| But is Known that mxeh of the ex-
pett. Of Baltimore, arc of Virginia
growth, carried there from necessity, AZ
the Potomac capital is not sufficient for
its pa,chasc and this portion OF the
| Baltimore exports, is so much taken
F.! from tho account Of the Alexandra ex.
| ports, ard added to the acccan, OF EaIu.
more.
The bank capital Of Maryland, is a
| bout equal to lO4oo ooO-morc than
| 100000 of this belongs to Baltimore
alone, and i, is almost the only port of
exportation The bark capital Of A |
; Isxandria, is 100000.
1t would follow then, that if May.
Land has adysntsgeuusiy employed ca
pi,al of 400 90 dollars, in exporting
1855 oo3 dollars worth Of produces, tha!
Alexandria might Silh like sdssnl1ge
use a bank capital equal ia ,G37, i4e
dollars, leaving ye, to be created, to pa.
her on pa: with Maryland, 2,ss7,i49
dollars.
The quantum IF Bank capital which
may be circulated In a,community, has
sometimes been estimated &C corcing to
the population 10 be served by it; il
this is considered a correct position, il
will be found TO operate still more pow
erfuly in fayor Of Alexandria for the
trade of that town must be- supposed to
extend TO more than one third OF tbs
population Of Virginia It is kaowp
that agricultural products are trough,
TO Alexandria from no other sta Lut
Virginia. II appears that the exports
of Alexandria, exceed one third Of those
OF Virginia by e32,st5 dollars. Now
the population of Virgins is 97s 622
souls; one thirdstt that number, is $50,
$40 seuls. Thus 20 afford equal adv,n.
tascs of bank capital totlc population #
Virginia, depending, on Alexandria ior
market for ,hsir exports, would cntille
then on tue ratio OF Maryland, 10 bank.
to The amount OF more than nine mil
lions of dollars in Alexandria 1hcsr
statements arc made net with a wish to
excite the cnmiy Of any one they are
founded on facts, OF the importance of
which, in considering the bark question,
Congress will Judge. The exposition
is due, in justice TO the people depend
ing on Alexandria for market; who,
from want of capital in that place, have
sustained the annual loss Of from ten to
twenty Per cent. ia the sale Of THAR pro-
dncts. These circumstances, il IS hop |
ed, will invoke the protection Of the en-
ly Jurisdiction We can resort to, while |
we are lasorlng under tbs accumulated
weight Of ten times tho usual quantity Of |
products On hand and this weight
would be very much sllevia,ed, by |
granting charter of incorporates to
the Union Bank
FARMER OF VIRGINIA. |
IFy