The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1822-10-09
S5s.5O4 I96 %

S5S,504, 1876 90
1t might be deemed prudent to abstain
from expressing an opinion upon the Gu
ture prospects of the bank, leaving each
individual to draw his own differences
from the facts exhibited yet your COM
miitee are unwilling to omit the expires
sion of what they believe to be well
grounded hope that the profits of the
bank and its public utility will continue
TO increase with the gradual Develops
ment of its resources. Ii the bank has,
under the embarrassment and perpiexIty
III which it has been placed, not only
sustained It's own credit, but that OF the
circulating medium OF the country, with
which its interest and prosperity are in
dissolubly connected, 1t can scarcely be
doubted that these difficulties being sur
mounted, and more ample field opened
for the exercise of its energies an in
crease of profit aiil result from cores
ponding extension of its BUSINESS. And
whilst your committee have found il I'M
practicable TO view this institution, in any
other light, than an establishment to eff
fectgreat national objects, they have been
compelled 10 remark that, tho those OBJ
jects have been most fully attained, ihe in.
stitution itself has not received the sup
port, which il is clearly the interest of the
nation TO afford.
The past history of the bank has prov.
ed that, where a sense OF moral obligation
is wanting, the existing laws are made
quate to deter the agents Of The bank
from the commission of frauds upon Its
vaults. Your committee therefore advise
that the president Sc directors present to
congress arespectlul memorial, praying
list, HE enactment OF etiicaclous laws,
that adequate punIshments may be inillct-
ed upon such agents OF the bank as may be
guilty of MANIFESTATION IN office. IDLY,
That they ask an alteration in that part
Of the charter winch requires that all the
notes Of the bank which are PAYABLE on
demand shalt be received III payment of
debts due the government, inasmuch as
this requisition, as heretofore construed,
has nor only the e9deRcy 10 prevent the
bank from restoring to some sections OF
the country a sound circulating medium,
but il may occur that the bank cannot
safely pace TO the CT edit Of the govern
Gent, in cash, notes at one office, which
according to the contract on the face OF
them are payable at different and dis
tant Office alone, and where only funds
have been placed forIheIr redemption.
though your commlttee are aware,
that not only the convenience CT the pub
lIc but the interest of the institution re
quire an additional emission Of It's notes,
and although they believe, that with
reasonable degree of exertioD on the parl
of the cashier these may be executed
and put ~ circulation, while the business
ofthe bank is confined to its present Ii
NIT yet they are satisfied that consi-
derable extension ut the ordinary bust
ness OF the institution, would render IT
wholly impossible for It's officers to per-
form this service 1t is therefore respect
fully suggested, that congress be prayed
also to pass law, authorising other a.
gents OF the bank TO sign ITS notes and in
lac mean Time the committee recommend
that the best means ~ tue pow CT oil The
president and directors be taken, to put
In circulation . large additional amoun
of notes, not exceeding the denomiDa. ION
o. 20 dollars.
our committee have not discovered
bal any serious consequences nave re-
suited 20 the Interests OF the bank (except