Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1831-09-07

the lowest rate OF nterest,-the original subScrl-
bers not having realized ar interest equal to five
per cent. per aunum paid semiannudlly, and sub
sequen,iy purchasers of the stock at an advance,
having generally received less.
9TH. That the stock of this Bank is distributed
In such amounts, to such a variety Of persons,
and for such different purposes and trusts, that
all charge or allegation of monopoly by any body
OF men whatever is shown to be without founda-
ton; whereas the same circumstances prove the
deep and critical interest which widows, orphans,
charitable societies, and other trusts, have Ill the
prosperity and continuance Of the Bank.
9th. That the welfare of this bank is now iden-
titled with that of the people of the United States,
from those who weld the largest operations oil
commerce, to him whose interest in the currency
does not 60 beyond the Just compensation Tor his
daily labor.
These differences your Committee believed 10 be
sound, and that no partial interest which they
may have as stockholders ought to prevent them
from using their privilege as citizens 10 stating
them. Their proof may be made manifest to all
who know the history Of the Bank and the country,
by perusing the communication OF the Board OF
Directors.
There is one other subject within range Of the
reference to the Committee, upon which they
deem it their duty to report
The Charter of this Bank will expire by its
limitation on the Sd of March 1856, and there
will consequentybe but one tricnnial meeting af-
ter the present, and that at point of time too
near the expiration of the present Charter, toau-
thorise measures in regard to its renewal. 1t is
fit, in the opinion of your Committee, that before
that meeting, power should be given TO the Board
of Directors. to prosecute them if they think
proper. This power should be large and dehn-
tive, not merely to solicit a renewal, but to a.
bide, if they think right by the terms which Con-
sress may impose A Board of Directors who
have administered the Bank in the manner detail
cd in their recent communication, are safe deposit
tories of the entire power of the stockholders on
the subject Of a renewal of the Charter.
With these remarks the Committee terminate
their duty by Offering to the adoption of the meet.
my the following resolutions:
Resoired. That an administration by which the
interest of the stockholders and public are sue
cessfully blended, is that system which is proper
ly characteristic of d Bank Of the United States;
and that to the present able administration of the
Bank, the stockholders and the public are indebt-
ed for the full, efficient and profitable develope-
ment of such a system.
Resolued, That the thanks of this meeting be
presented to the board of Directors for their com
prehensive and lucid Report upon the operations
and present condition of the bank, with an assur-
ance that the Stockholders place an unabating
confidence in their wisdom and fidelity in the
further administration of its concerns.
Resolved, That the confidence Of the Stock
holders continues tn be due to the able and faith
full President Of the institution, and that their
thanks be given to him for the enlarged and libe-
raj views which have distinguished his admins
tration of the Bank, and for the skill with which
he has united in its operations, regard to the
public welfare with a steady support of the in
terests Of the Stockholders.
Resoired, That if at any time before the next
trlennial meeting Of the Stockholders, it shall be
deemed expedient by the President and direc-
tors to apply to Congress for renewal of the
Charter of the Bank, they are hereby authorized
to make such application in the name and behalf
of the stockholders, and TO accept such terms of
renewal as they may consider just and proper.
Bank ofthe United States, Sept. 1, 1881.
(Signed)
Hor. Binny, Manuel Eyre,
Rubt. Rulston. Joseph Henphl,
Roswell l.. Colt. James Ronadson,
Paul Beck, Jr.
Resolced, That the reports adopted by the
Stockholders. be referred to the President and
Directors for the purpose of being printed and
circulated in pamphlet form for the benefit Of the