Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-02-09
CONG So
X senate.


M. Gales. tie Presidents S-cre-
tssr5. returari tie bill = 10 ineorpo-
rasv ,i,n ssslsssfiaeys 80 the isaHk on
tie led S;:t. IS Oh Aiaes:ca,'' With
TIE following messages
~, che Seaate 3 4 siss Emitted States.
Having bestowed es the bill, en-
sii:lss, An act ID iaeorasraie Inc
subscribers to the hank oisihe Uakesl
Stas~s 81 Am.sries.," That f;,!t GEN.
si.seFxf;osl ws::sil Is sige "a tho great
Iaayssanee &c the subject, aa'' cic-
fasesi i,y sise respect ms.ieh seel tor
lie AVA ssnses Of Congress. MN
!. :S,,rssssssi. by q sleeI, aud solemn
rts.ssiesssa, Nat Sic BIZ: susl.f nei ~
I.S~easo law, % s.ssari. e 70 t'se ss'-
ns;le. 10 sisiea i, s,issiaatsss, si,a my
ssI.iecsi,as So taa ssiiis.
~ avisy Sic s.,-ssioa sF the cea-
u fatianpi es,sa.rits OF the LeSisla-
TURF 10 esssS.ish III Incorporated
hank. as hciag preeia.'ed, 10 ny
i;s;ssfnsai. by repeated resegaiiions,
u:sier yasac,! circumstances, OF the
validity OF sueh sa Institution, in
-sasts al t;.e Legislative, executive. x
i,ns,riai asaav.les os the ;sasern:aent
accompanied by indications, in diff
ftrrnt asdvs, Of concurrence OF
tie general vii or the nasian; she
~e,.,s,,sea bank sacs not appear 70 10
calculated 10 answer The purposes of
reyisiag the pai,.ie credit. of pcayid-
iag national ;nsd;uas Of circulation
and af aiding ilse treasury by iaci:i-
tating ihe Indispensable ansicifa-
lions Of The revenue, and by afford
log TO he public meraslurabie loaas.
The eapit;sl OF the bank is To-
be compounded af specie, OF public
stock. and OF Treasury notes con-
ssstiDie iato stack. with a certain
Proportion oil each OF Which eysry
,saasessbe.. Is to i'urnish hiaseif.
: f'.s,e a1aoast of the stock TO be
subscribed will not, it is believed. be
snss;iyseni To produce, ia Favor oft:se
3,usa;r ereaii. any considerable Or
Iassiuy elevation osthe market price.
Maisss ss,is asay be occasionally de-
pressed .,Y ,ise aaak Itself, ifit s!ioa,d
cnrrs isfa the market the allowed
aeopnrtion efits capital eonsisiiag OF
public stuck. in order to procure
specie. rbi-h il may and its account
IN procuring. with scuse .acrfhse on
Shst part of It's capital.
Nor viii any adequate advantage
arise to he pa;.iis credit from tbs
subscription sf treasury Notes. The
actual issua 81 these setes nearly O.
qnais, AT present, and will seon ex
coed the amount 10 be subscribed 10
fhe lraas. The direct elect Of this
operation Is siapis 10 convert fifteen
millions os F:easnry Notes into lif-
teen millions CT six per cent, stack,
with the collateral effect of pramot
ing an additional draaud FOR ifeasu
~ notes. besend what might oiher-
wise be negotiable.
Puh.is credit might indeed be ex-
peeted Il derive advantage fram the
establishment OF national bank.
without regard TO he ferna.ion of
Its eapfal, if the full aid aad go ops,
rafioa of tho institut;cn were srxur
ed ia the goYernmeat duiiug the war.
aud during the period oil is fiseaE
efnbarrasS msnts. = But the hank pro
passed wi.. be free from all legal OBJ
LEGATION To 60 operate with the pub
lie measures; and whatever u'i2ht
be tac patriotic disposition of its III
reste.s 90 contribute TO the removal
OF those embarrsssnenls, aasl 10 IN
Y;gorate the proseeu'ion OF The war
fidelity tn fiis peeuaiary and s,eaesai
iategest efihe institution, according
TO ti,eir estimate az il. might o5.i,e
them to decline a connection OF their
oaerasions with those ct ths national
treasury, during the continuance 81
the war and the difficulties inritieEt
TO II. Temporary sacrifices OF IN
terest, though averhaianeed by ti,a
future and permanent profits Of tho
charter, not being reputable alright
in behalf eff the public. might not
be gratuitsusly made and shebank
would reap the full henefit Of the