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


bruises. !.
Although thi. point is, ! trust, fph
cleared up, Judge it not improper 10 d
all seine Of the very great ad,ants.e,
which the oaak of the Uuited States pN.
,esses for the circulation Of its nutes
land Of course its supera undant mesn
| Of affording accommodation. As hsh,
| rally as a tree OF immense size oversls.
ldows the shrubs beneath, as naturallya
man with soOO,OeO dolars capitaiha
| ! decisive superiority over one aith 100,
| loco. so will this bank, with It's enorGop,
lcapital, and transcende i advantages
|acauire an ascendency OR other banks
with which it may have any compsntl.
ltion.
/. The collection Of the revenues
The United States, by this hank, andils
notes being universally receiveaheiw
Those revenues, affords incalcaIab.e AL
lvantages for their circulation.
g Travellers undertaking journies to
la considerable distance, will geneaIlv
l,refer the notes on this l,auk, even when
/ .pecie payments are resumed. Forhe
lextrayagant number OF ate banks viii
Throw considerable difficulty in the Nav
lof tlleir notes at distance from home,
(which will not be apprehepdcd with the
fnotes of the bank Of the United States
i 3. The remittance M from one part
Iof this countryto another, are probably
lIhalf billion of dollars :,e day, suppose
ionly 100000. A large portion Of this
4 will be managed with ne notes Of tins
bank.
| q. The immense purchases Of rice and
|cotfon made in South Caro- ina aud Geor.
igia. tor the citizens Of Boston, New York.
lPhiladelphia. and Baltimore, will be &c.
rally paid for in the same way.
! S. The most important item remains.
The whole Of the superiuous productions
lof the mighty and growi g western states
lare fioated down the Mississippi to N.
|orleans. They are there generally pur.
lchased for our citizens on the Atlantic
border of the United States. Is it not
lcertain that a very large portion Of
them will be paid for in notes of the bank
lof the United States, that these nntes
will be transmitted to the western ex.
|porters of produce, and that, finally,
lthey will form the grand medium Of re-
lmittance across the mountains, for all the
purchases Of goods made IN the Atlantic
lcities |?
Is II inpossible to doubt it. They
will be in demand every where, for the
purpose of remittance. And in Ohio,
IKentucky, Tennessee, &c. &c. they
Twill constantly be at an advance over
Ispeeie. Do not smile gentlemen, at my
folly in this prediction. Or if you do,
II shall have the laugh against You short
H.. Yes, we shall soon see the " abonina-
l|tion of desolation," that is. a depreciat.
ling paper will be swept off with the be-
lsom of destruction. We shall again see
1.-The day, when " light money! as it is
fstyled in Keutucky ,wi'ie of more value
THAN specie. We all remember that it
formerly bore premium Of one. two, OF
Three per cent in Kentucky, Tennessee,
|&c. That state of things VIII soon taxa
iplace once more.
! And yet, gentlemen, some members Of
lyour boards are profound and wise e.
though to believe that this mighty fnan.
Icial machine will hardly be able to dis.
Iceunt at all !!!--that nearly all the notes
lit issues will return for the purpose Of
drawing away specie Hand that this
|specie will be immediately sold at pre-
Imium. Were it nut for the sobriety and
J, gravity Of the personages from whom |
have heard these declarations, ] should
iteeI confident that they were playing Oft
Isn'innocent hoax. Aid truly even their
sobriety and gravity, great as they are
can hardly, save them floln the accuse,
'ltion.
\ l now, gentlemen. respectfully oder
i you few suggestions, which | hope you
Twill consider most seriously. They deep.
fly and vitality affect your intcrcsts-and
tIare dictated by a sincere desire to serve
,lyou.
i The foreign trade of this country is re
iduced within narrow compass. 1t re-
r|quires little borrowed capital to copduc
lit. 1t cannot afford employment to The
y real capital of those engaged in il. Ap'
;ithus, gentlemen. one i:npcFtant Surc,
> of demand for banking capital, is almo.
\ wholly extinct, at a pe'iOd W. ,en that ca
slpital is about to be gSr,s than double
lin this city.
! Do not, thereS,re, fap = vourssrxe.
/, that because you arc ,cw srb;,ers Of i,
sest'aies Il your fP' ,ew citizens. YOU AZ
10: 20 enJey mis- Kish. this paramount