Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-12-12


An advertisements appear in both papers, ana
are inserted at the usual rates.
CURRENCY SCHEME.
w. civ. below Mr. Tackles talked OF Bank
sch.m.. The Columbia Telescope says, 1t is
notbins but General Jackson's original abortive
monster ofa Bank with 1.-THE States for stockho-
ders married to the safety-fund system! gra-
cious and sweet conjunction!
THE ORIGINAL AUTOGRAPHED.
"BALTIMoRE, Nov Is, 1884.
Sra Considering the question OF nsIa
AGENT of the Federal Government upon .iio
principles of the present Bank OF the y; o.cs
and indeed of any scheme wnich may oe We' =:
ed by priuate Interests, as virtually seuicu ~ ~
On. nublic Judgment; and regarding the force OF
that dscision as applying equally to all charter
~ .r;r;i.ess and indiriduoLs for banking pur.
~....-T take the liberty OF presenting plan OF
E.sonal Currency which ccntemplates chain
~ state institutions, which, while inoepen.
dent of any party or particular influence nhign'
hs found sufficient for all the uses OF the coun-
The advantages to result to the several States
from the operations of the proposed system as
cell in direct revenue as in elicting resources ST.
mulating industry, and invigoraGng every arm OF
the people, will appear in your crihcai eXami-
nations Of the subject in all its phases ana ca
liabilities.
II NAV not be amiss to mention THAT THE CHEF
N.orsrsArE OF THE UNION HAS EXPRESSED HIS AP-
PROBATION OF TIE PRINCIPLES OF THIS PROPOSITION,
ANN THAT AT HIS SUGGESTION THE ACCOMPANYING
prrAus HAVE BEEN EXTENDED. Nay be permit
ted 10 hone that they will engage your serious at
tention, and that they may be submitted TO your
proper department in order that your Legislation
rpav be made to CON form to the organic td~ con-
ferplated TO be enacted by Congress.
Intending to institute an inquiry into this inte-
resting tonic early i'm the approaching session OF
our General Assembly and to report upon II,
will have the pleasure OF sending to you the de-
signed paper-in the mean time the iavor OF your
views and Of such documentary Information as
YOU may be pleased to communicate TO me lat
Annapolis, Maryland) will be thankfully receiv-
ed and appreciated.
LITTEETON DENNIS TEACKLE."
A plan to establish the Monetary system, ana
to regulate the Currency OF the Onifed Stdfes
according TO the tolioring basis ana PrinctPtes:
81 Five Commissioners to be appointed oy
the President and Senate, to act IN conJunSuoh
with other Commissioners, to be appointed by
The States. to constitute Board Of Currency, to
sit at the seat of the General Government
"2. The Board to devise prepare national
currency, in convenient denominations from loto
LOCO dollars, to be apportioned among the states
In the ratio of their electoral rotes, not exceed
nafor and REPRESENTATIVE in Congress
"3. Each of the States, asserting to the sys-
tenn 10 receive its contingent Of the currency
upon the payment of one per centnm on tne
amount required, and contracting to pay, IN IKE
manner, annually thereafter, and providing
not less than one fourth Of that amount In the ie-
gal coin OF the United States, as a ods's ~ "s
opernfions.
.4. The asserting States to appoint one Com
missioner to the Board, and one in addition Tor
eyery ten of its electoral votes over tnree, de-
ductinp the number which may have been ap-
pointed from such State by the President and
Senate.
as. The principal institution of each OF the
States IN have the custody and prortde J0r the
transmission and disbursement Of the public mo
nevs and for Exchanges between the States, I'M
der such conditions and regulations as the Con-
gress may prescribe. >,
&c. The national currency 10 be made receivable
in all payments TO the United States at each ana
euery Of ihe institutions, and at all their branches
and departments, WithoW regard 70 hs Ptdce %
emission or redemption.
az. The Board to have, and to exercise VI
sitorial and supervisory control over the instltu
tons of the States in all their branches ana "a
Indications; each to be visited and inspected by
deputation ofthe Board, once in every SIX months
at the least.
1s. The asserting States to be sereraliy and
DISTINCTLY responsible for their appropriate con-
tinrenfs of the currency and for the faithiui dd-
misisfrafson of their respective institutions.
80 The commissioners to receive an ade-
innate compensation for their services, and iair
Allowances for itnerant charges; to appoint and
nav their secretary and other necessary omcers
ana servants; and to take security for their
good conduct. and the due discharge OF their
proper duties.
"l0. The secretary to receive the per centage
TO be paid by the States, to make all neediui os,
bursements under the direction of board, and
70 account to Congress for any balance which
might remain.
all. The proceedings of the board to be open
10 the inspection ofeither House Of Congress, or
10 any committee thereof and the right TO
modify or repeal the act to be reserved, SUD-
iect TO the fiil6lment Of existing engagements
"l2. The board to consider ali subjects con-
pected with the currency in relation to the IN
terest OF agriculture, manufactures, and COM
merce. which might be charged upon 1t, and re-
port thereon to Congress from time to time"
THE BANK OF THE UNITED STATES
z A