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

able, as not TO impart to it the color, e.
ven, of a capital.
The persons who compose this com.
pany, and particularly those who direct
its operations, are unknown 10 this
board, and there is sufficient reason TO
believe their names have been design
eddy withheld ircm the pubiic; cir.
cumstarce aurely not tending 10 inspire
confidence in its discretion or security.
Although recently chartered, the cir
cumstances under which the charter was
obtained, would seem TO divest il of a
claim TO equal credit and privileges with
the other IeGalized insttutiors. The
bill Incorporating your bank, being FIRST
rcJeeted In congress, was revived All the
close ofibe session, when the tumult
OF accumulated business rendered il
necessary, that the Interests ot all ,l.e
unincorporsied banks within this O.s>
tr;c, and dependant On the National ! &C.
gisla,urc many Of them from thsir cai.i-
tai s. responsibility universally ackno,s~
ledged,to belentit!ed TO an act otincorpo
ration) should he intimately involved s.
comprehenJed in one general bill. In
popular assembly, and at such pc.
Rod, it is nbt rational to believe the re-
spective clbims OF the pelitionipg banks
could be canvassed, or the requisite in.
formation obtained, relating 10 the man.
ncr OF their establishment; and where
claims so reasonable were urged, and a
united iptcrest so powerfully exc rted-
when the election of one bank from the
bill, might easily produce an cmbarrass.
meDt fatal to all that remained-no adj
ditional confidence can be derived from
the attainU ent of charter, however
imposing il may appear; bat, on the
contrary, as the notes OF the company,
under the sanction fits charter. may
beissued free Of individual responsibili.
ty, &with less circumspeclion, their cur
rency becomes more haZardous. Even
the safeguard against mismanagement,
which might be interposed by regard
Tor private reputation, the community
is without, while its direction remains
concealed,
Permit me TO add, that motive no,
the least influential in determining this
bank to decline the reception Of the
notes OF the Franklin Bank, is, that it's
very recent experience affords an ex-
ample to deter it from recommending.
by Its countenance, to remote circu.
lation, the notes of any company or as
ISOLATION, unless its better knowledge
OF circumstances passing under its inn.
mediate observation, induce belief
that its emissions of paper are sustain
ed by All actual monied capital. l am,
with due consideration, your ob't serv't,
WIN. HERBERT,
Pres't IF fhe Bank Of alexandria
Franklin Bank Of Hlerandria,
AnrK %, 1917.
To tie President Of TIE Bank Of .6ler-
0ndria.
Sir--In reply to your letter of the
2lst inst. yesterday received, am in
structed to observe, that had it been
deemed proper by your board only to
have announced their determination in
the common terms oil respect due to
the feelings of Others, TO remark on i,
would now have been thought necessa
ry. But when in answer to plain
and not unusual enquiry from one bank
to another, you have thought proper to
enter into course of remarks as I'M
founded in fact and propriety, as eyin-
sive of the spirit Of unprovoEed hostili.
~ in which they were conceived and la.
bored: TO decline reply TO them might
be construed into an acquiescence in
their correctness,
We could not indeed sir, have ex-
pected more from the puff,d vanity Of
a Young man, than the display OF so SUI
percillous temper Of dictation as that
contained In your remarks on what you
have termed the zeal Tor multiplying
banks, and we must object to the right
you have Tins assumed of deciding on
this question ; the more especially as
it has been passed OIL by tribunal,
whose authority, although you now
so perfectly con,emn, it may happen
you will yet be taught TO respect. We
should also object to your design on the
OF interest.
In the expression Of that luminosity
which you feel against the government
of your country for this act which you
disePprove, you, sir, as the organ Of o.
Tiers, have not adhered TO The charac-
ter OF correctness, which has ever mar
ked you as man. To you personally
we are far from a'tribuIiDg this devia-
ton, or any impurity of intention but
when you are instructed to state, as you
say you are, that the act of incorpcra-
ton granted TO this bank was the effect