Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1814-06-04


engagements.
Resolved, That the gentlemen whose
naun. follow shall compose the said
committee.
WIN. MOTT,
CAIZERGUES,
H. LANDREAU,
ID. F DUBOURG,
MAZTREAU.
Resolved, That we consider the mea-
sure adopted by the several banking in.
situations Of this city as judicious and
imperatively required by the peculiar 81
,uation of the country, that our conf
dence in the validity of their notes is
thereby not diminished, and that we q.
gree to receive and give currency to
them as usual.
ENew-Orleans, April 9stb, 1914.
WIN. MOTT, Chairman.
Pr. BUROURG, Sec'y.
There follow the names of the mer.
chants and traders of N. Orleans
FELLOW Citizene,
The alarming occurrences which we
have Witnessed for the last days, were
the unav oidable effects of the distres.
sing situation into which this country
has been thrown BY the present war, x
the restrictive measures on orr com.
MERGE, by which our government has
endeavoured to deprive our enemy oil
some of the resources he might have
drawn.
Additional causes Of the drain OF spe
Gle, which this state Of things hss ope.
rated, may be found in the accumulation
of produce in our stores for which their
is no vent, and in the difficulty, not 70
saw the inpossibility Of receiving sup
plies through the usual channels Un
der such circumstances, we have con
ceived IT salutary measure to the in
terests of the community to suspend our
paymeats in specie, and we have deter
mined to adopt it, from conviction that
the benefits which it may produce, will
more than counterbalanee the evils that
may attend 1t.
1t onght also to be considered that
none Of our three banks could singy
suspend its debtors, among whom the
most respectable characters, merchant,
as well as planters, may be found.
The prospect OF the removal OF the
embargo induces us confidently to look
up to better times, and to indulge in
the well grounded hope that this state
of things cannot last much longer. But
| in the mean time we deem it our duty
to claim the continuance of your conf,
dence.
There exists an indissoluble connec-
ton between the welfare Of this country
asd the existence Of our banks Their
directors are we'll convinced Of this i'm.
portant truth, and they pledge them
selves that nothing shall be neglected,
that may preserve 10 your properties
their full value, and maintain the public
credit at moment when the want of
specie may produce the ruin OF various
classes of the community.
Let Us also reflect that the suspension
Of payments eta bank ought not to dis
credit its notes, since their validity is
perfectly secure BY q sufficient repre-
sentative capital; The stockholders a.
lone would be the sufferers, if it were
possible to fear such an event.
On the 9th April, 1914, the Direc-
tors of the Louisiana Bank, oil the Plao.
tiers Bark, and of the Bank Of Orleans,
convened at the house of Nj. Fortier,
ESQ. and adopted the following resolu.
lions:
Resolved, That the Louisiana Bank,
the Planters Bank and the Bank OF Or
leans, suspend their payments in specie
for the present, and that they mutually
exchange their respective notes as here
tofore.
Resolved, That whenever the banks
NAV be permitted to resume them, this
measure will take place eight days after
one oil them shall have been Summoned
by the two others.
Resolved. That the present Fcsolu-
tons shall DC laid Before the public, in
two of our newspapers, and tina. copy
duly signed by the three presidents Of