Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-08-30
PROSPECTUS
OF the Financial Register ot The Cn;;cd
States,


OF the Financial Register u The Cas;;cd
States.
The recent suspension Of specie payments
by the banks of New York, Philadelphia, Bos
ton and Baltimore, which cannot fail to be.
come general throughout the United States,
presents state of things, which may, ispub-
lie opinion be not led in a proper direction
!nyolvc the most fatal and disaSterous results.
The country will shortly be divided into three
great par:ies-one advocating the destruction
us all banks, and the scheme OF q currency
solely metallic; and the second supporting the
doctrine Of permanent incontsoTe.tibe pa
per system, and third, urging the restora-
ton OF specie payments BY the banks at the
earliest possible period at which 1t. can be el-
.2cted, with the least injury to the pubic. VI
these plans, the first is impractlcable, and the
second would be ruinous to the industry, cap
ltal, and morals of the country. The third Is
the only one that is both practicable and eX-
pedent, and the one that calls io. the united
energies of all the advocates Of conservative
principles, and of all who respects the rights
vi industry, the rights of property, and the
Jaws o! moral obligation. Entertaining those
sentiments, the advertiser proposes to publish
u semi-monthly journal, to be mainly devoted,
Tor the present, to the accomplishment OF tins
great end; and he confidently relies upon the
patronage of large number OF his fellow cit
liens to sustain him i'll the effort. All who
unite with him insentin,ent must be aware OF
the Importance of. prompt and energetic ac-
lion, and of the immediate and wide diffusion
OF knowledge upon the principles oi currency.
Ignorance on this subject has brought US to
OUR present bankrupt condition, and nothing
can save Us from deeper and more lasting dis
tsess, but the dissemination CT the important
truths which reason and experience have
taught in reference TO banking, currency and
finance.
The vast annual increase OF the monicG ILL.,
@itu:ioa- OF the United States, and the IN
innate connection which subslsts between
,aei. financial operations and those OF Europe,
are becoming every day more and more ob-
jects of interest, on both sides ofthe Atlantic.
There were on the lSt Of January, 1887, III
the different states and territories Of the Un-
ION, six hundred and seventy.sercn incorpora-
ted banks, having one hundred and sorty.slx
branches, dependent OF one another, each OF
which issues notes, anJ consequently contri-
tu:es towards the mass OF the paper currency,
which will soon exclusively fill the entire chan
,c.s of circulation; aud it is evident that
knowledge Of much of the statistical niorma-
ton which is connected with their expansions
and contractors would be highly beneficial; to
every section of our country, as well as to
merchants and capitalists abroad. 4 knoT!-
edge, also, OF the state Of pecualary affairs in
Great Britain, and Oil the continent OF Europe,
t:om which we have obtained so many loans,
and to which We may again, after the reSa,,ap-
ton of specie paynacntS, look for additional aid
in the various enterprises requiring capital,
in which our different states have embarked,
would seem to be essential to all our monied
institutions, and to large body of our Citizens
and public men. Indeed, without a broad
view of the condition of the currency in both
quarters OF the world all great financial en-
terprises must be conducted in the dark; and
when this is the case, it is easy to perceive
what disasters may follow in their train.
In undertaking this wo;k, the advertiser
has no political party ends 30 answer. Mat.
tiers which concern the happiness and well
being Of the whole community are of too high
importance to be made the sport ofparty war
fare. Banking, currency, and finance belong
to science, and not to party politics; but, lie.
vertheleSs, where governments and leg!sla.
lures 60 far forget what Is due to science, and
commit the imprudence Of forcing her into the
political arena, 1t comports with the plan OF
this work to condemn their conduct and ex-
nose their ignorance whenever betrayed, let
the offenders belong to whatever party taey
may.
The editorial department OF the publication
will be placed in competent hands, and or'-
ginal communications may be expected ttom
several gentlemen who have studied financial
subjects. As to selected matter, the publisher
trusts there will be presented to the intelligent
inquirer afte. truth collection OF statistical
documents, historical records, and scientific
arguments, which will be worth his perusa!,
as. may be seen from the following table OF
proposed
CONTENTS.
I. The Financial Register viii contain the
annual report of the Secretary ot the Ireasu'
~ on the finances, and the Directors OF the
Mint on the coinage, and such parts OF the
Presidents Messages, and other public docu-
ments and acts OF Congress as relates to
the finances, banking, the currency, coinage,
and collateral subjects.
2. Abstracts from the annual commercial
statements, showing the extent oi the COM
lnerce and navigation oithe United States.
3. Abstracts from the reports annually made
to the different state Legislatures on the con-
dition Of the State BANKS: sufficient TO show
their actual condition.
4. An account of the debt OF the efficient
states, and Of their investments III rail- roads,
canals, &c.. as information may be acquired.
S. Weekly quotations OF the sales at \. York
End Philadel phia-of the principal stocks, local
and distant Sold in those markets, as also, bills
Of exchange, foreign and domestic, as well
rs the rate OF interest of money in the mar