Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1818-05-15

coin, Al ] per CENT, uisS"s
ern banks being called on tor Specie are
uuder the necessity Of calling in their
notes, as well as nearly combining their
payments to gold, instead Of silver.
The East India trade thus annually
sends out of the United States 4 large
sum Of silver. The drain must be made
up from some other quarter.-And our
banks are thss put to the eIPence OF i'm
porting annually b quantity Of specie to
supply the vacuum.
Is there no danger that this East India
trade itself will be overdone ? that more
goods will come to be imported than We
can probably dispose Of Such is the
enterprise Of our merchants and the &C.
neral facilities of obtaining capital fur
nished BY our numerous banks, that we
can engage in few branches Of specula'
ton which we do not carry into excess.
Mr.. Mcclure used to amuse himself with
an eztrsvagant speculation, which was
once carried on in New-York in water
melons. There are few cities in the
Union, which have suffered mere by
over dealing than Richmond. The East
India rage has not reached her; but may
not other towns yet suffer BY itf
That the English traders view our
trade with the East Indies vith SEINE jea-
lousy, is no secret to our merchants but
that they seriously mediate some restric-
tons upon our commerce, is apparent
from the following extract Of a letter, put
into our hands, dated Liverpool, 2lst
February last:
"The Houses engaged in the East In
dia trade are preparing to have Bill
brought into Parliament to limit the i'm
port Of India Cotton to British ships d.
rect from India. II this succeeds, it will
reduce that branch Of your carrying trade
to what can be disposed Of on the Cont
nent. There is however no doubt that il
will meet q strenuous opposition from
the manufacturing interests but we
think il may be Important to you to know
Of this intended proceeding early. The
American trade are fully upon the watch
to get as much time as possible live or
six mOnths) to cover such shipments to
this country as may be now in operation
or contemplated This they will endea-
vor to accomplish either by compromise
with the supporters of the bill or by &C.
tusl opposition but in question Of Bri
fish interests it would appear invidious to
attempt any thing further"
W Since writing the above, the mai
(of last night brings US an Essay in the
Boston Gazette, which expresses much
alarm at the present great aud increasing
trade to India-The author makes the
following remark:
81 would venture to hazard an opinion
that there is not as much specie in the
banks of Boston Exclusive Of special de-
posits) as will be shipped from here TO
India in one month-and what is to pre-
vent all this from going away, if dollars
can any where be purchased with IT."
From the Boston Gazette Of Nay 6.
FROM EUROPE.
The political affairs Of none OF the ma
tons Of Europe, France excepted, present
any interesting aspects.
The finances Of France are represent
ed by the Minister Of Finance to be in a
very embarrassed state. With an unusu-
al freedom, he announces that the expen-
ditures of the current year, after all the
savings which can be made will exceed
a, r