The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1821-02-15

Tors anl agents, or to lessen Tie supposed
wICkedness OF the nature 81 those transactions.
MI I. declares that he has never grasped
ne property Ot the bank nIthin bis reach ior
purposes VI private specuIatlon-he has not
Oeen unmlndiul OF bis obligation as a director
- mat he has invariably expressed the conyic-
ton "AIcn he now feels that the bank j. per-
lecIy solvent, and That within little more than
WE'VE months from The time il stopped pay
'heht y would, from IT'S intrinsic means, re-
deem all It's bills, unless large sums should be
presented tor penal interest"
Now II would have been extremely graf
hyIng TO the holders Of Castine bills to
have learnt from Mr. Upton, for what purpose
ne mas srasPed the property Of the bank I; and
ana Il VIII be still more pleasant to some Of
hese unfortunate people to have him now
cone forward and give bis own notes for their
demands, and pledge portion Of his 1900
ions OF shipping as security fo' the payment.
MS he cannot IN justice refuse, as he has
! conviction, that, from Intrinsic means, the
bills Will all be redeemed The pledge Of
THIS property would doubtless be more sails
factory e the creditors Of the bank than the
mere declaration Of his conviction.
1he letter contains something more than al
NnsinuatOn that the committee aid not exam
ne Thoroughly into the concerns OF the bank.
dow could they ? The business was piuci-
Pally Transacted 10 Boston all the information
they Could have was procured probably from
Inc directors at Castne, who had become
ashamed OF the whole business, and knew as
little about il az the man IN the moon.
Mr. Upton expresses his anxiety for the
speedy restoration OF the bills 10 their par
valde'' This, considering the vast quantity
which the agents have purchased at 80 or Az
per cent discount, must be considered as a
proof 0; the amazing Observation-Disclosures of his
disposition.
g lis tte bank credit was identified with
my own, and both were Frustrated together
My property consisted principally 10 Shipping.
having nearly fifteen hundred tons, variousiy
employed, and mostly on my own account,
10 the Fisheries, the Coasling Trade and in
forelgn commerce IFS sudden sacrifices ID
meet the emergency, might have effected my
OWN distraction, but could not have been
timely 70 have afforded the wanted relief
Here trust it will not be deemed impertinent
to remark, that all the vessels | employ were
butt 10 Name aud every commander, except
one who removed from Maine about The time
did, Is a citizen Of Maine, and with their
lamiIles as well as the Seamen depend in some
measure upon my employment Tor then sub
sisIence. My business is very considerable
az Castine and Belfast, and the interest oil
those persons connected with Il should not en-
thely escape consideration in decd ~ upon
any course OF conduct, the consequences OF
winch might SO materially affect them.
would lurther observe that my removal 10
Boston was auxiliary 10 my more extensive
transactions and connections In Maine, and
win the intention Of finally returning and
setting IN that Stale. | have thought il not
improper to say thus much of myself, 10 show
'ha' Inc concerns Of the Bank and my own
concerns are more particularly identified with
The interests of Maine than with Boston. Il
has constantly been source of the deepesi
regret, that any losses have been occasioned
oy the suspension Of Bank il great meas
uFe amer my own administration and al
though The inhabitants Of Maine have SUITE req
very little comparatively, Il is still no mIiga
ton OF that regret that the losses have pnnci
palIy fallen upon Boston and its vicinity"
we hope this extract will not excite be
tween the citizens of Castine and Boston any
serious or alarming contention to decide which
Of the two places shall have the honour oi re-
tanning among them SO distinguished a mer-
chant, 50 munihcent philanthropist and pat
ron Of trade and navigation.