Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-08-24

iSI.f1E B.5sfHS.
Las, week, il was staied N some Of tie Bal
nIaore pap,rs that the comieit.ee from tie
BANKS of Baltimore and Philadelphia Lad met a,
t'ie latier place and dec led upon a resamp,ic. a
II specie payments on Tie Isl jnly nexs Sub
.eiuentlyt vas asserted. uasr lie secretary
Of The t.eas,ry had ecqresced in ~ proposed
arrangement" flon The s,ljoined ietter from
the secretary to tie rni,ed States Bank Com
missioners at Philadelphia, copiei rom the Nat.
Intelligence" OF the ola, inst. !, viii appear that
the baltimore papers were mistaken as 10 the
secre'ary's scquiescence: Cor, he says, ulAt it is
of Importance that ,Fc Bank should 70 into o.
Peration before the 2oal February next, as ader
,ha time. the paper Of Banks not payin.; specie:
wdi not be received in pa neit OF taxes, duties,
&c, AID the State BSnss viii unatoiiahly cease
to be the depositaries OF the public revenue.
Litter from the Secretary Of TIE tiilreasu-
ry 10 tie BcnS Commissioners at Phila-
ceifhta.
ihEASUsr DEPARTMENT
Agust ID, 1916.
GENrLEMES--The Information CONTINUE
nieated to this department renders It pro-
babe, that in the course OF few DAYS. the
sem OF 5 S,4U0,000 IL gold, and silver coin,
and IN the public cebt, viii have ysen ac-
tua!Iy received, on account Of ;he SubscriD-
tohs tu-the capital d tie BANK OF tl,e Uni
ted States, exclusively Of the public sub.
scription ana it will then be your duty,
70 notify TIME and place within the CITY
ot thiiadeipnia, for the election of the d.
rcctors, wDo are TO BE- chosen by the Stock
holders. AS an incidentin the perform
ance OF tins duty, it IS presumed, that YOU
| WIN deem 1T proper to provide suitable
b'nidi'ig Tor commencing the business Of
me Bank, at The place designated for hold
i"S the election; and CONFIRMING To the
| general Gaiuie OF your trlst, YOU will no
doubt. De disposed TO make such other pre-
paratOry arrangements, as will facilitate
and accelerate the operations of the insti.
tutIon, it Is, indeed, Of high Importance
to tHe people, as we'll as to The government,
that the Bank vi the United States should
| be III an orSanized and active state before
! the 20tli OF February next, when the naner
OF the State Banks, which have not return
ga 10 metallic payments, must be rejected
10 the collection o. dulles and taxes; and
| "hSH SuSh A'tthos WiiisuuaPCt( lGOlY. cease
to DC the depnsItarles OF the public revenues
| La this view OF die subject, am authori-
Zed by the President, 10 recommend that
you cause TO be prepared such Books, en-
cravings; and paper, AS yen shall deem ne:
cessary tor the commencement If The busI-
ness of the Baht, as soon as the directors
shall be Chosen by the stockholders. II;
however, an opportunity occurs, it will be
proper TO consult the directoss who have
been appointed by the government. altho'
not memhers OF YOUR Board, uponithe n,.a.
sures Pursued, III consequence of this re-
, communication.
!, Nlth the advantages Of the proaose.! an.
tclpdtlon, e IS bsi!eyed, that the Rank al
die United States may be in ore,st;on 10.
fore the first ol Jaanxry next auh 4 -b6ra
IS stili indulged that the Safe Banks vii
J. either COMO N To that even, Or adant thq
period contemplated by the LEGISLATURE
4 (the goth i February for general re.
assumption Of specie payments.
lhave the honor, &c &c.
MIN 40