The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1817-05-07

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franklin Bank--or, ii the object had
been of the importance you would
seem to attach to il, by irouiripg at the
Office OF the Secretary Of tue Treasury.
As 1t respects the capital of the Frank.
lin Bank, you are perfectly al liberty "a
indulge 10 the unlaYorable suggestions
you appear to take pleasure IN adopt
Jag. On this subject, we would fur
tber observe, that you Cannot think
more insignifican,ly OF our capital than
we are warranted in believing of the
real state of yours.-It is sufficient on
our part 10 say, that we SIRE, aud probs-
bly, always shall be, prepared 10 com
pare with The 3aBk OF Alexandria i'm the
FAIR and independents means of meeting
our engagements.
Lam desired only TO add, taat we can
not place TO the account you direct, the
P!olessionsyou ate Instructed TO make
OF attachment TO the public interests !;
and that it, in consequence OF the hostile
spirit you aye desi,cd in the terms YOU
have chosen 10 manifest towards US, in
convenience or injury should follow To
portion of the commercial interest,
this Bank caHnot be charged as the ag.
gressor.
We beg IL may not be deemed con
desoension in us TO express the regret
which is sinccrely felt,that theiianguage
OF your conrr unicalion has placed the
institutions we respectively represent
IN on unfriendly attitude. We have
never asked the aid or patronage oil any
Bark we shall probably never lind it
necessary 10 do SO. 1t was our desire
10 reciprocatS in acts of amity, so &c
cessary TO the interests OF the communi
ty as well as OF Banks. Bun il il is deems
ed necessary that the powers which the
longer standing Of your Institution a.
lone has given IL over ours, should be
employed TO crush US Gas you have full
~ announced)we must appeal 10 the
justice ct the public to decide, whether
we shall not be permitted to act even
Extensively, if necessary to our exis
tence.
] am desired 10 tender to you, sir.
personally, the testimony Of our aspect,
and to assure you, none of the proceed
ing remarks are intended 20 have any o
Their application than 10 the conduct oil
those by whom You have been instruct
ed To give to the letter we have receiv.
ed, the sanction ofyour signature as an
officer
And that am, sir, with perfect res,
pect, yours. sc.
VIM. THO'S. SWAMI,
PreSideH: cfshe Franklin Bank.
The following circular 7yas transmitted
70 the several banks ia Washineton
and Georgefoqn--
Franklin Bank, .dftriI a6, 1917.
TO fhc Pyesiden. IF
SIR-lt is due 10 the respect the
President and Directors of the Frank
lin Bank OF Alexandria feel for the good
opinion of your Board, 20 explain the
causes which have led TO the disagree
ment, which must no longer be conceal
ed, that exists between this Bank and
some OF this older ones of this town.
The hostility which has never ceased
to be urged. in the most uncandid and
| unfair manner, by some of the friends OF
the Banks of Alexandria towards the
Franklin Sank, has been, on the part OF
the latter, always unmerited and uHpro.
voked. Without ground for suspicion
OF its ability to discharge its contracts
and without charge, which dared to
rise above the private whisper of a Sian.
derous tongue, of aSy unlairness in the
origin or conduct of this Bank, it has
continually been assailed ty the malig-
nifty of monopiliZing spirit.
The combination, thus organized, aid
unfortunately very powerful in this
place, had produced the determination
in the pa,rops of this Institution, while
unchsrtered, TO reIinguish the design
OF continuing its banking operations,
unless charter was obtained from
Congress at its last session. I his de-
termination was formed on the advice
of other gentlemen Of Iespectabilily,
who had offered to take an interest in
the Bank, if chartered, asd who declar-
ed they would not otherwise afford il
their counteDance.
The favorable result Of their appIi-
/ cation to Congress has had the effect,
as promised, of uniting with the former
! associatOrs a strong and respectable
monied interest No doubt remained,
as no reason could possibly be assigned
with fairness, but that the Banks OF
this town would cease their hostility,
and afford to this Bank the Connlenance
it mefited. The Directors OF some Of
the other Banks expressed their desire
that the Franklin Bank should hasten