Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1830-05-14
ALEXANDRIA, d. G.
rRLnfY MORNING. Way IA, 1880.
CONGRESS.

l., Attorney Generals Office into an Executive
n.partment, was debated and rejected. The bill
,sorcanizipg the Navy, creating Admirals,
g. was, after considerable debate, rejected.
7, the House the Bill relative TO the Judge of
Il. or,b,ns Court was read third time and
ID The bill for Incorporating the Alexan-
j., Canal Company was also read third time
"A D,.ssd BY vote of lis to 70.
ur Nallary's bill for preventing frauds upon
l.. revenue, was also passed and sent to the Sc
nate.
The House then resolved itself into Commit
IF the Whole on the state of the Union, Mr..
w;ckiEe in the Chair, and took up the bill con-
,,onu the removal of the Indians.
Mr. Bell spoke at length in favor of the bill,
nd WAS followed by Mr. Lumpkin, who, howev-
Or gaye way to motion to adjourn. and then
,,a House adjourned.
ss49e9ae-
We should be glad to know what particular
s,,;Y,y Mr.. P. P. arbour has to the prosperity
+ Alexandria? He voted in the House yester-
las ,o,inst our Canal Bill. We would not have
rsp,oned the circumstance, had we not always
heard that Mr.. Barbour was fayorably disposed to
our interest
G,or'ch-The schooner Potomac, Bears, has
l-red at Halifax in .Gfy-seCea days from Alex
r.Ln Ii was a fortunate circumstance tor the
rev. We think, that she had cargo of bread and
beans.
The above appeared in a New York paper of a
ne date 1t has been but 6fty-tOur days since
he aforementioned vessel sailed from this port,
and she is now expected back daily, 1t would
D. fortunate. we think" if the Editors of that
paper were to give their readers more correct In
formation. -S'se3Eas-
Ia the last Quarterly Review is an article on
ne subject of banking, from which We make the
following extract:
"Nothiug can be conceived more admirably
adapted to encourage industry aud economy, than
NE system Of banking, winch has been So long III
tl operation in Scotland; and we have no doubt
that the saving and perseyering disposition, which
| &ms prominent feature IN the character OF our
lrtAern neighbours. must BE- ascribed. IN con-
siderable degree. 10 the ha5irsinstilled into them
BY .he ,lfuence Of these invaluable institutions.
Ieludustrious laborer inds. al his own door. a
Il. md profitable receptacle for every shilling
B, .aa save. Without trouble. anxiety or loss of
ana he takes MS pound to the bank, where 1t
bars IN res, from the first moment in which it
i deposited The banks thus constitute public
dy9,irories. III which every shilling that can be
syr-I throughout every district an Scotland finds
&, o''ee.
No. is the disposal of the aggregate of capital
ina, collected less beneficial in It's effects upon
III habits and enterprise of the people. than the
economy by which it is saved. The bank reser-
yois thus kept constantly full, furnish every per-
Nl Of character with a read V, certain. and never
tiing supply of capital. wherewith to embark in
My undertaking which holds ont the reasonable
probability Of success. The managers of the diff
ereGt banks. having collected into one focus the
whole capital of the country, offer every facility
70 tose Who wish to borrow this capital, and turn
ITO profitable account. Their profit is derv-
Exclusively from this source. Upon all the
2Pal which lies unemployed in the Golfers OF
,e'e bauks, dead loss is sustained: hence
le7 are as eager TO find out safe borrowers as
N'iiS GspoSltOrS.
hebaukers of Scotland. are, in fact, dealers
Unemployed capital. They form an open and
Universally known channel of communication be-
tween he borrower and the lender in the money
aGNet They acquire a perfect knowledge of
@a parties. They borrow money of those who
rs 10 lend, and lend money to those who
.'' borrow. aud charge profit OF one per
-l' npoR all cash transactions for the use OF
'T oNa credit, labor and skill. Any person
mag an account with the Scotch banks receive
q, cent ,or some other amount less by IL. than
Average rate Of INTEREST," upon the balance
IA their hands. He may pay in money when
aNae chooses. This is carried to the credit of
acc'raS, aud interest allowed for Ii from the
~ "nlcht is deposited. He may draw his
l'Y oltwhen and in what sums he thinks pro-
IT, aldhls loss Of interest on the sum so drawn
.,'H,nences only from the day on which 1t is
.s'tl. This OBJECT, however, in borrowing
Ia, Is 10 make profit By lending it: hence
~'ullleS which they give to borrowers are as
S they can be consistently with fatety. In
ur'' place, they will discount bills and other
'a'i,!e securities, which are perfectly regular
god, at all times, and to any amount. Inns
al mGalCulabe advantage to the merchants of