Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-01-13
tsinment Of that Object !. -

,olicltude Is felt, that ths = lssp'tS
d;opted BY The Legislature III osss,eSssq's
|biy tend to its attainment. lANS
Cd. Ofthe, seryicesrends,.
|vernment BY some Of the ..,, 10Th.
during the late war and of tSs !, Vi
|ty which SEINE Of them are . a.sllhe
their intercourse with the tre,s ,ualsd
tee requires an explicit Adv
ment. It is a fact, however Asonl.{
bly, proved, that those iDst;tass v''ts
not at this time be successfully
to furnish an uniform natienaI o ~
The failure Of one attempt I. "'sstJ
them with that view, has slrs. 's't
stated. Another attempt, by.,b. vi
|cy in circulating treasury notes Ga
come the inequalities of the ~. IlNa
has only been partially succes.,sl' aal
a plan recently proposed, vii d AZ
sign to curtail TIE issue Of bat,., y. @ds
fix the public confidence in Tho , ,ss !.
tration Of the affairs of the ba"L' S4aH
give each bank Legitimate has. -
circulation, is not likely to rees,'
sanction of the banks. The +.pt; !
the charter restrictions of som. i
banks the mutual relation and da,
|dence Of the banks Of the ear. l r'
and even OF the banks of different ,,. s
and the duty which the directors e -
bank conceive that they owe tbe;,
mediate constituents upon ayints If
surity or emolument, interpose az I
isuperab!e obstacle to any yiapt,r,
irangement, upon rational co sider,s''.
alone for the establishment o. a rat;@4
medium through the agency cf tie g,,'
banks. 1t is, nevertheless, with the s,,'
banks that the measures for restonp,G'
national currency of gold and ST..
must originate for until their i.,vsS
paper be reduced their specie csph,
be re-instated and their specie Opn
tons be commenced; there will be !
Their room, nor employment, nor aft,'
for the introduction Of the p. eciOus 4.
tails. The policy and interest Of /,
state banks must therefore be sneagl
in the great fiscal work, by all the nes,
which the treasury can employ, Or al
Legislative wisdom shall provide.
Sd. The establishment Of Nation,
Bank is regarded as the best and per
haps the only adequate resource to ~
!ieve the country and the governmel,
from the present embarrassmeDts. Au,
lthorised to issue notes which will be re-
lceived in all payments to the U. States
1.-THE circulation Of its issues. will be ca
defensive with the Union and tNe,
Twill exist a constant demand. bearing
bust proportion to the annual amount #
the duties and taxes to be collected, 10.
dependent Of the general circulatiOntt
tfia6aKa sf Bank viii therefore, possess q.
mean. and the opportunity Of supplying
a circulating medium OF equal use nd
value in every State, and in every DIP
trict Of every state. Established ~.
authority of tie government Of the Y.
States accredited by the goverrnsf
Ito the whole amount Of its notes in 'lIt''
!lation; and entrusted as the depOs''!
| of the government with all the actpI Il
llations of the public treasure, the "
|fienai Bank Independent Of its inHe''
|ste capital, will enjoy every fec'n1' ~
ldatiun which can merit and secure "
|eonfdence Of the public. Organize, eF
I'm principles of responsibility but y, OH
dependence, International bank will be re
Itained within its legitimate sphere o. AZ ~
ltion without just apprehension from 4. AZ
misconduct Of its directors or lIon, w. "
|encroachmeuts of the government I'D.
!aent in its resources, and in IT'S e '!I;',
leIe. the National Bank will sOr {; 01
laid, and lead, the state banks 10 q Az a,. N
lis necessary for tie restoration Oh e, 0'n
.tpublic and private. And, act. .ss, sp' :"
: tcompound capital, partly. OF ., s %at' y,
charity of gold and silver, the NautD I
Hank will be the ready ins 'I! 'ao,,;
tendance the value Of the public ss't 4,
tiles and to restore the currency y .
national coin. ,,,rt I
I,upp'y and maintain a paper Tea sa1 &
will not be questienes.a' ", ,s,o
lthe Introduction of that medium !. a nj
lmust be an adequate motive l0' :, s ri,
treasury notes has hitherto teen ,e ,',t
. lnoney in anticipation Ct tf :, I ,nSaBI
lThe revenue, however, Slll PI', MI
stbecome in the course Of the ! sl;sri
land continue afterwards. sHD 1sG.s, Z
: loischsrse all the debts end '' .,Ft !,
The expenses of the gOse . &c psIi i
consequently there viit exl'' .r M
Ito issue the paper OF the sO''
.,f rPpfiIf. ~