Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-09-25

bank il " asi,iugtcn. 1t follows that means
must be provided, and placed i'm the WASH
mgton bank To meet that amount. The
receivers OF those notes take them with
the "promisc" expressed on the face Of
them: whici, is 20 pay az the branch bank
Ia Vashingtca." But. instead at these
notes heiog presented where they are
made payable: and Uliere pror's,on dcs
tten made 10 reeieem them, the holders stop
al Baltimore, and demand OF the branch
there, payment for SAID no.es. Ii the
system he to redeem notes at branches
where ihey are not ,made payable, then IL
is manifest that every branch must, 10 BE-
safe, he provided with funds over aud a.
bove the amount for winch il is ma,ie ac-
cnuntable (and the mother bank too)in
sun embracing ine issues made payable
al all The branches. and at the mother
bank aiso--or he compelled 10 draw di-
yers ways, or 10 transport the means COM
nensuratc with such demaud. In all
which there is neither system nor safety.
Suppose million OF dollars be issued
in PhiiadeIphia, payable at bali dozen
of the branches, winch would amount to
SIX m,ilions-aud suppose the current of
trade should bring those six millions, CT
even two OF them 20 the counter of The
branch bank AT Baltimore, Where proVi-
sion had been MADE 10 redeem the one
million made payable There, does IT not
appear .hata good deal OF confusion, and
toll, and risk must arise out OF such Il
ease? But, ii she nIiilion made payable
a; Baltimore, be presented thnre, cores
ponding means having been provided,
all Ibis confusion, and toll, and risk van
ishcS aud order and system take their
place.
II il entirely clear, therefore, that the
bank IN Philadelphia eaHiot, consistently
with lis obligations 10 lis iaterests, hold
itself liable TO receive, and pay those
notes which have, OF may be issued, and
made PAYABLE sewtere-because where
yer the notes are promised to be paid.
means. il is presumed, are provided to
redeem them. This applies to tie branch
es equally in their relation 10 each ~
Their; and IN their relation 10 The eIother
bauk.
b Ii would be thought very odd, if mer-
camille house in Philadelphia we're topro-
mise TO pay, on a note issued, hity thou
sand dollars ut one OF lis establishments
at Lexington, il the person holding such
note should proclaim il to be obligatory
ON said house, 10 pay said nnte at another
OF its establishments in Baltimore, where
IT is not male payable, and present it, and
demand payment accordingly! Yet, would
this be more singular Than il is i'll those
who hold the United States Bark AT PHI
iadelphIa, as having forfeited lis credit,
because lis notes, which are made paya-
bic IN Lexington, are refused al PktiGttet-
phid! The merchant when he draws his
bill, either has the money provided at the
place where it is made payable or takes
care TO provide ii in time to meet his draft
so with The United States Bank. But
ii would be as cruel as Yexatious, If the
merchant were liable 10 have his credit
destroyed, because his house la Bali
more refused TO pay Il bill made payable
at Lexington. Suppose, however, an
obligation existed for him 10 pay where
he did not promise To pay; and that this
bill should be presented al Baltimore,
would not such an obligation imply al! The
uncertainty winch can be conceived, as
tn where it pontl be proper 80 place addi-
tional means And also, an Involvement
OF great labor, and confusion, and even of
credit +!
cannot, therefore, see, that the least
exception, can, in reason, be taken 10 this
policy. II is fur, because no person is
enirapped by il, as the notes issued, are
all lesiOie, and have expressed on the face
OF them, al i0hat place they are payable
IL is Just, because the right tn demand
payment ndiScriminaieiy, would involve
the interest and credit OftIe bank and its
branches, aud subject The whole system
30 yexation, expencc, and Liabilities Of va
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