Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-11-07

.;;.s...t practice is. worship the rlsInn'
n'ss Good notes will then, as Otter
ssas.,osore. be eagerly sought for. nov .a
o S .rs frequently spurned, to the IN
NJ sa,.yalsbIs distress and injury Of the hold
ers. ..;.a ;o,v If h.at;nu b.
. u u,'' IS i solsmnIy believe it 70 be
so, ,,r 'Is,y and interest both combine e
you - !. change Of SYSTEM. Try to con
olc :.' r.. ! pub3ic-Add not to the sore
cllla' s.a irritation that prevail so mi.
nes s. az srtend your aid wherever you
ysls- .';;b .afsty, The day viii come, and
gan VIZ ~. f.r distant, when you will deep.
q = ). rs u the course you have steered,
/. n when YOU viii be as eager to cour'
am sttr,ct business, as business nov
cue nols courts you foo often In vain.
u' W lave YOU from the trouble Of q re.
...l I shall close with a summary Of
4 & heads Of this and ny former pam
phiets. ns.:.n oe h,s;
90. aud the deficiency of remittance.
No. ~. , nerson with 100000 dollars o.
s"od debts in the country, may End il
& s;scnIt. uerhaps hardly possible, to dis
\ sb,rse debts to the amount Of 10 or IS,
: MO dollars, if they be compressed with
3 in narrow space OF time
4 seasoE: of difficulty and e.nbarras-
r,nt rpapires an extension of accommo-
I,t;an. OF course. any thing like cur
aiment is transcendentiy pernicioas al
sch period.
r,bo mast eminent men in England.
q twas proved, beyond the possibi-
IT, e doubt or ca,il, BY the experience
Nine commercial world in that country
ID lT9s aud 1877.
s Philadelphia Likewise afforded an IT.
,..;stabIe. proof Of it last April, when e.
ven the pledge of extension at once re-
.t0red confidence, and arrested the pro-
gr,ss Of bankruPtcy.a
s. The trading world being at present
IS hard pressed as they were last April,
the same remedy is called for with voice
n Of thunder.
7. Whatever reductions OF discounts
may be necessary, can be affected win
ease aud convenience as soon as tue new
sank gees into operation. Fer,
&. As the old banks will require to
atail their discounts considerabiy-aS
those whom they curtail, viii require
discounts elsewhere; and as the new
bank, to make even legal interest, must
discount very largely; we cannot doubt
but such arrangements will be made as
will suit the purposes of all parties.
81 9. As tire branch bank of New YORK,
in 1911, with Az, 497 dollars il. specie.
discounted s,9l9,628 as the Pbiladel-
= phia bank, in 1912, with sos, 1851 dollars.
discounted 2,7s,4S0 as the Farmers
and Mechanics Bank, at the same PERI
ed, with SS45,6S2, discounted e,Si9,
es0 dollars; and, inexpressibly womb =
ful, as the Boston bank in 1909, with on
y rs. $50 dollars. discounted 1856 400 /;
! cannot be doubted that the bank of the
United States in this city, with about tNo
million Of dollars specie, might safely
discount 10 or IL, or even i4000,otG
bDOre were such sun necessary 3
hsrefore--
10. As the bills discounted By all the
backs in this city, except MIR. Girard',
lAa the bank Of Nsrth America, witt
pase affairs the public are snacqaa;tned,
aOaiy about lS,OO0,00o dolls, itfoIIows
Nthe aew bank would be soie yearly
aYply the whole OF the demands o
f&tade aud commerce.
Il, And finally, as the future bank
a:capitai of this city will be very fan
s'oaa what our trade and commerce
sIl require, it IS DIRE insanity for the
ensdug banks Ia DISCUS, OF please thc
paalc, and force th@it customers to abaa-
lOn them as snOa as opportunity offers.
l hose directors, therefore. eho advocate
sach measures as must Necessarily pro-
pace this effect, are the enemics: those
TNo oppose them, the real friends Of these
nstitations.g
lie limited circulation Of the Boston
eo'es will excite astnuishnent. It is
r0saoly without pafreIei. But it Is
ssHy accounted tor. 1hose NOES had
ea!uiy any currency out Os Massachusetts,.
y y = probable that 10000 eol.a:s WORT.
y mem hardly ever 10 one year travel.
I'd as far as Philadelphia. AID xhsne.
hsy passed the boundaries Of Ibs
esis, their absence was temporary
fhey were . ION returned to their native
blaze. Thsir eirc, lation in fact was al
post altogether coninedp~ Boston. The
tlte was Delayed with countr> notes,
&lph almost altogether formed its CIR
WHITING medium. And the Boston notes