Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-11-19

..t;or Of the war they had oeas'
By the Mr. D. said that he DID no
ID to a as.t any measure ike the bill pro
know, ' .ua' winter, for aiding the oank'
posed l = ,sked Tor during the pressn'
would Ds 4 was possible that alter 5 this
session. .ss5. the whole matter would lay
bill Pa a., no next session, when bank
OYER q. !, NIGHT be brought forward for
ing sys .s similar to the existing systtem
the sss V';r.;nia banks. This law then
OF the wa ne sufGcieot for the present
was va P csbt.rIestOwn Manufacturing and Ex'
Inc Gas Company might perhaps wind up
porting s .rrs sooner than the s1st OF
Their ere S0sI but in favor Of that Company
August ! leave to say, that the Revenues
ns pzsssEss County could not this year
q D' SO.o ,olIected without the aid Of
nv ~. h aei Resides, they mean to trans
la. .S Ss finds to the state of Ohio-yet,
y s;,h .O having the time which they sug-
| 'astsd, tseir dealers mi hit be very Sc,
ssIs' onnressed. If the unchartered
4 .ns! do not wind up by that tine, the
- nm NAV be Put in force against them at
Ne fall terms Of the Superior courts
4 T N then is the objection ? If they do
~ INC" lind m by the time allowed them,
nv will accomplish yeur purpose, by DE.
FrOying these institutions.
Mr.. Mercer, hoped that the gentleman
tom Brooke would not think him mimi
~. n 20 the neriod which he had selected
lint rpalIy he had been willing to take
A. 1st Nav. rather than have no indul-
sence-for half loaf was better than 40
bread The reason, why he had selected
thst day sss, because, as ne had already
stated, the staple commodity of his part
Of the country was grain, and that the
nresept crop would be at market by the
rst Of MAY. But in the western cOun-
tries. the case was different; for there
tbsir market IS on the Mississippi, & the
whole year might be necessary on &C
eounr Of the swoln river to bring their
erOns to market. They might require
tbesefore. different time for settling ap
with the banks AS the banks in bis part
oftbe country were introduced into the
] same bill with them, he was willing to &C,
cammodate them in their wishes. He
q would not agree with the gentlaman from
4 Brooke, that this would be the only ia,
& yor sought during the present session
Ir there is no connection between this
inject and the establishment of othei
hnks-but That poiut was not at present
& within the view Of the house. But why
not allow these banks longer time to
cse their concerns ? If they have be-
gun to wind up their affairs, they would
certainly go on. The House were sa
thfed, that they had already curtailed at
least so per cent. What is the effect !
They have already deprived themselves
{ half their profits by this operation, aud
yet all The expenses of their institution
8till continue. You have therefore the
best assurance in the regard they paw II
heir own interests, that they will 70 or
b close their concerns.
Il, tor instance, the capital of a bank
RasS 100000. at 6 per cent. their profit
would be 5 COCO, cut of which all thei,
ezpenses aud dividends we're to be draw
but cell in one half, $4,000, and GU
'& $4,000, their interest, they must pa,
lll their expenses, &c. If then the houst
hFe satisfied, that they are bona hde anx
Ms to wind up, Why refuse thea
Ene to do it--since it is their own int
pA TO do so.--Mr. NJ. begged them t
aSdsr what hostility it weuld mani
ii il this bill were rejected. He kuey
would be subject OF awfnl magnitnd
La Tie banks of Loadouu were brought t
Ian Immediate close.-1'hey did not de
serve this treatnent-He begged @,
house to lecOllect that these Institutes
bad commenced sith 10 intention Of O.
fng IL, as was last winter eyinced by 1
Reference to the character Of thsse wis
Here interested in fhsea for the stock.
Olders, as we'll As directors, were mer
tie inst character and great wealth
iegnnins then IN M crimipa! intent why
mould they be okpres ed ? all that car
pc SAID against them. IS, that they had
eted inprudentiy because. theuSt
1sy had expected a chaste', they $ Ell
. doing baei9ess without; knowing wbe
erthe Legislature woald grant It, the,
al gone on entansling the county il
helr transactions, bit aII men are liabl,
Smpradence they are nnw cur
Wing they axe caif;og in their debt
last IS possible, though corn bears $,
Aa price. To the Dealers, it Is
se'tlOn of jushse, but mar, persons
ave an sniesest IN these Institutions
Q are nsither stockholders nor deal
Every one who had a bill of thost
lS Ia his nocket. ,are Interested II