Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-09-13

y. distinctly, they ought to suffer. IEli
AZ , Lone language. 1t is unpaiasable
SIS AIS strictly true. If, on the othe'
Sa' sou use indulgence towards the
ps. .,;s,--if YOU delay retrenchnent till fhe
pun oE e the United States is organised Z.
pau s viii then be more banking capital y
tas s;tv than can find employment. You
ss therefore, at that period, reduce your
CO.. ,.sorr,ts. your notes in circulation, ansl
'sss sa,rse, yoar specie responsibilities, a.
cadence shall dictate
Win you then hesitate IN the choice, J, /.
-. ,,,a.l leads ~ distress aud wretched.
.%s other to ease and comfort, anu
Ns a,;ty. May yousbe 50 fat enlishtenesdd
ss- -. road = "a tie blessed path. that wall
. : s,y;ye the wound inflicted by the fatal
s s.ass q the past year. errors which have
d 5oTs more injsry to the nation, than az
y. ua S,.eoss OF a yindictiye warfare or near.
k4three yeats.
- have been brief, to avoid firing you
! m;eht have yes.y much anpiitied the ar,
.s.seuts-but have stedioasiy avoided
now proceed to summary o.
h, Il whoIe-and Ihope | have made i
appear.
and the culture prospects are tuil as gloomy
ss Hose in April last.
3 Thatthe system then adopted hav,
no been wise and salutary. the contrary
sy s now pursued, mastnecessaaly o.
h;sbIg ineSpedient.
That the object ofretAcing the a
mount Of bills discounted, il pqreued ~
ans. a-eat extent d: present, wilsprotuce
ne most ruinous consequences to the
Ranks as we'll as the community. *
That by deferring tins reduction TILL
.ba Rank oftbe United States is in opera
lion. Il can be accomplished with general
ease and comfort.
s That there Is no reason 70 dread any
hostility from the new Bank towards The
old ones.
6 That the Bank of the United States
must discount largely to make suitable
. 4.
dividends and.
That whether it discounts on the
notes ofthe state Banks, or On its own
he result viii be, to enable the lattei
s. eject a proper pyoqartlon eet%ees
tbe;r specie means aad their specie re
s,ensibiiitles.
r. S. Former publications ftol0 Ia
zane pen, Of q similar import with tn
prasent, have been unjastly and iayidi
a,Slv ascribed 70 views hostile to t.n
Banks. This will probably share the SAM
fate. The allegation unjust. The Wri
ter believes that we'll managed Banks az
emiaently be 5efciaI TO a trading ans
commercial community. 8aRks, it i
true, may BE . curse, the ,otten are curse
and the, heaviest OF curses, But that i
the lot OCCASIONALLY Of almost every .thinj
haman.. -
The writer IS fully persuaded. that ii
system pursued by the Banks at presen
is injurious to their interest, and it cent?
naesl, will entail infinitely more loss O.
them, from this daytill the period fixe'
on for specie payments, than the on
here advocated Every days expericne
establishes the all important truth, tina
in times of pressure, lioeraiity is the ees
policy for Banks to pursue. TIE grea
error is, that they draw the cord too tigh
land it snaps.
I,have merely deprecated cartailmen'
But the times imperioas!y require some
thing more. Aud the true Catholicon 70
our present evils would be an extensio
oidiscounts OF at Leaf 100000 dollar
for each of the Banks -oo the plan adopt
ed:n April last, Of which the Bank G
] North America wisely srShe example
Itwould be too much to hope for this re
suit nader the existing prejudlces o
this s1biect. This would cure The pre-
saligg disorder. Any thing short Of Chi
NiAibe but "A mere palliative. Buff III
disorder cannot be wholly cured, It is
graad point gained to mit;gate It's violence