Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1819-11-09

HE coainiI,irc, IN cIbiii'uE wHti Il. -,
OF their fellow citizens, have beard ;he g..
rent reports and opinions which have soc,
Morally been expressed respecting the COS.
the building intended for the Bank Of the r /
States in Philadelphia. and the injuries Wiki,
have been sustained by tie state or lo,,
Banks from oppres sive demands for sre,
made upon them by the parent Bank and i
officers. As these reports and opinions =,
founded in error, the committee, from OFF,,
documents, will represent The facts as a.,
seally are.
The land upon which the Bank is to BE-
rected, was purchased in May, 1919, f.,
Isl 900 dollars. According TO the cop,,,,,.
which have been entered into, and the e.:
mate of a committee appointed by the Boar
If Directors the building when finished. Min
not cost more than $4,000.
In the city Of Philadelphia, the 10,
banks have received from the parent bsr;
1,l5o, 972 dollars in specie, more than they
have paid to it. No documents which H.
committee have been possessed q, exhb,
the specie transactions between the Bank &
the United States and its offices and The loo p,
Banks generally, but the books OF the Inst.
tuition liz the city show, that the balances due
to it by the local banks amount to 2,5Os 652
dollars, and that the balances due by it 70
the local banks amount to 94l 600 dollars
manfesting that the large sum Of l,56l,65S
dollars remains due TO the Institution, i,v
which it is entitled to demand specie, bw
which it has forborne to DO, although, in Or
der TO support the credit OF the country, il
has purchased great quantities OF specie at
considerable expense.
As the degree of confidence which WILDE,
and which ought to be, annexed to the pros
poets held out in this report relative to the
future producliyeneSs Of the stock, must No,
little depend upon the opinions entertain.
ed of the administration 81 thssparent bsnk,
the committee deem it part Of their duty,
to give publicity to their sentiments upon
this subject. From the time Of their ap.
pointment, until this report was prepared,
although they sat usually from an early hou;
in the morning until late hour in the even.
ing, with the exception of intervals allowed
for dinner /; although, during their sittings,
they were very often obliged to apply to the
president of the bank for information, they
always found him present, always ready, at
all hours, to comply with their wishes, and
always, when applied to, communicating 70
them statements, facts and explanations,
with unreseved openness, with honorable
candour and with luminous perspicuity. From
bis conduct upon this occasion, from The
means Of judging Of bis official conduct al.
forded in the course Of this investigation, as
well as frsm opportunities Of knowing him,
enjoyed by many members of the commit
tee, both IN his private life and in his pub
lie career, they speak from the conviction o!
truth, when they declare that they believe
in their conscieIces, that bis administration
has been, and will continue 10 be firm and
temperate, wise ana conciliating that he
will pursue the sound interests Of the instltu-
ton, Invested offear, favor or affection, and
il ever he be chargeable with any errors Of
the head, from which the enlightened posses:
no charter redemption, that he will never
be guilty Of any errors ofthe heart.
WIN. DRAYTON, Chairman.
Bank Of the United States,
Philadelphia, 9Th November, 1919. :
Ordered, That the said Report be accept
ed BY this meeting.
Ordered, That The same be made public
under the directions Of the Secretary.
Extract from the minutes.
J. GALES, Jun. Sec'y.
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