Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1819-10-15

brought INTO activity TO resist them. 4 ne as
astrous results of ibis policy will furnish, il is
to be hoped, sanitary lessons TO your fellow
citizens, sei it is believed That the present
crisis presents very suitable occasion for
their employment.
In directing your attention to the present
crisis of your Banking concerns. it il the
most natural Of all things to enquire, chat as
the best to be done9 Two distinct and oppo-
tte courses present themselves, a selection
from which must be made with promptltude,
or your alternative is lost Are yon disposed,
as heretofore, 10 leave the arrange ment OF
your Banking institutions TO individual enter
prize altogether ?-Shall all the different in
terests of The town be ,eft to press forward Sc
parately and distinctly with their various and
conflicting claims upon congress thereby
distracting and disgusting the Legislature, and
endangsrug the success of all Or, will the
good people of Alexandria assemble together,
and discuss with calmness and deliberatlon
the various matters connected with this sub
ieCt,-concentrate their views and Interests,
and devise system for themselves, founded
upon the broad basis of public good, and
rational sacrifice OF those subordinate feelings
and Interests which now distract The town I!
Will it he said that the citizens al large have
not tair right to DO ibis, that it isan affair CT
Bankers and money lenders altogether =
Certainly not.-Banks, it would seem to me,
are established by law to promote the pubic
benefit and convenience, and not TO accom-
modate individuals OF any description. The
emouments OF stockholders. presidents, ana
cashiers, are incidental and subordinate, and
should ever lie regulated and confronted by
the paramount considerations OF general ma
ture. Why then viii the citizens OF A'exan-
dr!a the merchants the mechanics,--the
holders OF real estate, ami o'hers,-a deeply
interested, too, 10 The welfare CT The town
why will they trust matter of such impor-
lance, as the banking estah' ishlnent. certain
ly are, to be arranged st the will and plea
sure OF few interested individuals !---more
especially when the views and objects ofthosc
individuals are Sc obviously co;iincCi TO their
own separate concerns, and exstEg mono
poles Us il because the existing corpora
tons have Been SO judiciously obtained ard
conducted by the same individuals hereto
fore ?-is il because the town has fonrished
so exceeding! y under similar rellances.
Itmay be well, ST., for the good people Of
Alexandria to reflect for a moment on the pos
siole consequences Of neglect on their part
to perform, what consider 10 De their DIZZY
and their interest, Oil The present occasion.
Suppose your six banks shoTld present Them
selves before congress, anl should so distract
and disgust that body with their conflicting
pre'ensionS, as 20 produce general denial
What is 10 be your situation, and that Of your
country friends, whose best interests are in
volved in the lealIhiiil state and prosperity of
your town, in case the bank charters should
al. expire, without corresponding aid being
granted, to you, through tie medium Of other
Banks! Are you prepared to meet The cr
sis TO redeem al once, a Bank capita. ey
ceeding one million Of dollars Or, could
you feel yourselves at ease, under engage
men,s of that magnitude, when those chosen
fei2. TO whom the business of winding up may
be committed, shall commence their opera
lions upon your persons and properties -
These ara considerations naturally belonging
10 this subject, and which deserve serious no.
tice from all classes Of our citizens, whether
they be debtors to the Banks or moi. The
disastrous influence OF such circumstances will
reach every individual of your socety,-un-
less, indeed, we except the miserable few,
who thrive best in the midst of general Gala
nifty.
Ii may be deemed arro~ance in me TO sug-
gest to you, sir, or to your fellow citizens at
large, any views as to the system of Banking
which they should seek to estab ish.-But
cannot forhear to express the opinion that
very sufficient capital might be directed and
dispensed by one, or at most by two banks,
and that the general interest would he great
ly promoted by such Limitation Of the num-
her, The expenses would thereby besdimi-
ished,--the counteracting influences would
be lessened,- the direction more able and et-
iective,-and the public confidence proper
tionably IN ,reased. can imagine, indeed,
no plausible argument in favor of greater