the distresses of the nation-and to save from the [ It is hardly necessary to examine the effects on vortex of bankruptcy those who have escaped the human happiness that would be produced by the ravages of the storm which threatens to blast all our universal adoption by all nations, of the maxim, hopes of happiness, and to reduce us to the same "trade will regulate itself;" as such a state of things state of prostration and decriptitude as Spain and has never existed and can never be supposed to Portugal, who, it is unfortunately true, have not exist. But in order to evince the utter fallacy of made a worse use of the bounties of heaven than the the maxim, even under its most favourable aspect, United States! we shall discuss it at a future day. Our limits forbid any further detail at present. We say the "nost sibly ever be salutary or even safe, it must be when favorable aspect;" because if the maxim could pos. in universal operation. The immense importance of the case of Portugal, induces us to place before the eyes of our fellow citizens two comparisons of her conduct with oursin the one, the soundness of her policy places us in the back ground an entire century in point of political wisdom-in the other, her impolicy and her consequent sufferings and distress are the counterpart of the system we have pursued, and the calamities under which we writhe. Striking contrast. PORTUGAL. "The Portuguese set up a fa brie of their own, and proceeded in it with very good success, after the prohibition of ours and all foreign coloured cloth. We had then nothing left against their cloths, but to introduce our cloth serges and cloth druggets, into that country. They quickly found that these gave some interruption to their manufac tures, and therefore they proceeded also to prohibit foreign serges aml druggets."* The following picture of the state of the western country, is taken from the Frankfort Argus, and evinces the insanity of not making some prompt and decisive effort to relieve the nation from its disastrous situation. "Never within the recollection of our oldest citizens has the aspect of times, as it respects property and money, been so alarming. Already has proTHE UNITED STATES. perty been sacrificed in considerable quantities, in Nothing whatever prohibited and utterly inadequate protee this and the neighboring counties, for less than half tion afforded to the great and its value. We have but little money in circulation, leading manufactures of cot-and that little is daily diminishing by the universal tons and woolens, lest "the many should be taxed for the benefit of calls of the banks, Neither lands, negroes, or any the few!!!" and in order to "buy other article can be sold for half their value in cash, where goods could be had cheap while executions, to the amount of many hundred est!! thousand dollars, are hanging over the heads of our citizens. WHAT CAN BE DONE? In a few months no debt can be paid, no money will be in circulation to answer the ordinary purposes of human life. Warrants, writs, and executions will be more abundant than bank notes: and the country will present a scene of scuffling for the poor remnants of individual forDuring the war, cotton, wool-tunes which the world has not witnessed." en, and other kinds of goods were not prohibited-but there were few imported. The citi zens of the United States set up fabrics for making cloth, bath woolen and cotton, and, had the war continued, or had they received protection after it was concluded, they would have gone on to erect other fabrics, till they had served themselves Striking likeness. PORTUGAL, "Before the treaty our woolen cloths, cloth serg-s, and cloth druggets were prohibited in Portugal. They had set up fabrics there for making cloth, and proceeded with very good success: and we might justly apprehend they would have gone on to erect other fabrics, till at last they bad served themselves with every species of woolen manufactures. The treaty takes off all prohibitions, and obliges Por tugal to admit forever all our woolen manufactures, Their own fabrics by this were present ly ruined. And we exported 100,000 value in the single ar ticle of clutis, the very year af ter the treaty."t "The court reas pestered with remonstrances from their manu facturers when the prohibition was taken off. pursuant to Mr. Methuen's treaty. But the thing was past. The treaty was rati THE UNITED STATES. ture. The treaty of peace open Foreign Articles. GREAT BRITAIN AND IRELAND. Parliament adjourned on the 8th April, for a fortnight. with every species of manufacing specic payments--after a while. A bank at There was a talk of the bank of England resume Sheerness has stopped payment of-even in paper. The manufacturing districts are dreadfully dis tressed. At Leicester, within 10 days, it is said that 5000 persons were thrown out of employ-though the price of cotton was expected to decline fur ther! There have been some heavy failures. ed our ports to foreign mer. chandise, under duties utterly inadequate, for protection, whereby a large portion of our fabrics were wholly ruined-and, probably within a year after the war 25,000,000 dollars of cottons and woolens exported to this country. Congress was most respect fully iutreated for adequate pro fied. and THEIR LOOMS the nation followed. The balance was so very The balance of trade is so The London newspapers advertise no less than fifteen ships to take out passengers to 'America, whose tonnage amount to 8200 tons; and the Belfast papers nearly as many more.-By the returns of the latter port, it appears that about 11,000 persons emigrated to America from thence last season, amongst whom were upwards of seven hundred fami lies. The Circassian girl which the Persian ambassador was bringing as a present to the prince regent, was very closely guarded. What will the prince do with her? Can he keep her as a slave? London, April 10. Numerous emigrations are now taking place from Yorkshire, chiefly for the U.. States-but a considerable number have also recent. ly gone to South America, and many others áre preparing to follow them. The mischief of these expatriations is increased by the emigrations alluded to, being not composed merely of poor distres sed artisans, who are in quest of food and employment, but chiefly of persons possessed of property, sufficient to render them comfortable in their own country. FRANCE. A late London paper speaks in very unfriendly terms of France for her efforts to assume a military rank, and on account of the seizures of British goods, only for attempting to smuggle them into the country. AFRICA. The slave trade is still very brisk-chiefly to supply the Spanish colonies. The British cruisers capture many slave ships and send them to Sierra Le on. SOUTH AMERICA. British soldiers were encamped. From that time to the present is more than forty one years, that it has lain perfectly harmless, though we cannot say what damage it may have done in its passage from the gun to the tree. - Village Record. The steam boat Richmond, on the Jame's River, lately made an excursion to City Point, at the rate of fourteen miles an hour. U. S. bank stuck-90 offered for a small parcel, in Philadelphia --924 asked: No sales. U. S. 6 per cent. stocks, 102 a 103, sales. American artists. Messrs. Perkins and Tappan, By an arrival at Baltimore on the 1st inst. from engravers, from Newburyport, passed through New Porto Bello, we learn, "that gen. MacGregor made London on Monday, on their way to London, where his appearance off the harbor of Porto Bello on the they are to be employed in engraving for the bank 7th of April. On the 8th he landed his forces, of England. Mr. Bagot, we understand, has paid amounting to upwards of one thousand men, and on them in advance 50001. and if they succeed in their the day following entered and took possession of the business, of which there can be no doubt, they will place. He remained in possession twenty-one days also receive 100,000/ in addition. Mr. Fairman, of without succeeding in gaining any of the inhabi-Philadelphia, is also attached to the company. tants ever to his standard. The depredations and This tribute of respect to the genius of our counrobberies of his party on the private property, com- trymen is certainly gratifying. pelled the inhabitants to abandon their houses and Naval expedition. It is stated that the U. S. ships Hy to the mountains for refuge. At the last of April, John Adams and Ontario, with the brig Enterprize, general Hore (royalist) entered Porto Bello at six in the whole under command of com. Perry, are to be the morning, and surprised MacGregor and his fol-immediately prepared for a cruise in the Pacific lowers, who were asleep. MacGregor and five or six of his men escaped with difficulty by leaping from a window twenty feet high and swimming on board of one of his vessels. ma. ocean. Charleston, May 22. We are informed that the application of capt. Blackler, of his B. M. ship Lee, Five hundred prisoners have been sent to Pana-to our government, for the British scamen who joined the crew of the piratical ship Louisa, as heretoThere were 60 men killed, and 40 wounded, der was refused probably on the ground that they fore stated, has been unsuccessful-Their surren are equally as amenable to the laws of the United States as to those of Great Britain. They will be holden in this city on the first day of June next. tried at a special session of the circuit court, to be the greatest part of whom were officers. Strag glers were daily brought in from the neighboring mountains. The royalists lost two men killed and four wounded. We learn by way of New York that, "a gentleman direct from Angostura, which he left on the 3d inst. informs that Bolivar was on the right bank of the Arauca with about 4000 men, including a division of 900 Englislimen. Morillo was on the opposite side with 6000. A brilliant affair took place on the 11th of April, between the cavalry of the patriot general Pacz, and a part of Morillo's force, in which the roy-a late census, amounts to 8000 souls.-The crowd of alists lost 500 men. CHRONICLE. Col Towson, we are sorry to be informed, has resigned his commission in the army. The Farmers and Mechanics bank of Cincinnati has effected the contemplated arrangement with the treasury of the U. S. and is now paying specie for its notes. By the late arrangements in Ohio, the bills of several banks are now received in payment for lands. The Sciota (Ohio) Gazette, of May 14, says: "On Friday morning last two waggons, loaded with specie, from the branch of the U. States' bank in this place, took up the line of march for Philadelphia. The amount of specie which has thus left our state, is estimated at from 120,000 to $140,000." Missouri. A letter dated at Franklin, Howard county, Missouri, states, that the land sales which took place lately produced about seven millions to the government-the average price per acre, five dollars.-The population of this county, according emigrants and purchasers at the sales, was wholly unexpected and unexampled. Keel boats already descend the Missouri with produce, from Franklin to New Orleans. Progress of Improvement.-As evidences of the rapidity with which the comforts and conveniences of society extend themselves into the remotest settlements of an enterprizing people, it is worthy of notice that stages for passengers already run thrice a week from St. Louis to St. Charles in Missouri; twice a week from St. Louis to Edwardsville, and are about to be established from St. Louis to Vin once a week to Kaskaskias, in Illinois; and that they cennes, and from St. Louis to Franklin, two hundred miles up the Missouri river.-Nat. Int. named Maulich, has discovered a method of manuFrom a French paper. A hatmaker, of Cassel, facturing felt, so as to make it impenetrable to the At a saw mill one mile cast of Chadd's ford, across stroke of a sabre, in the hands of the strongest cuithe Brandywine, Del. and about the middle of last rasser, and even to a musket ball. This fact has March, as a man was sawing a large poplar log he been proved by numerous trials. He offered to wassurprised in hearing the saw strike against some-discover the secret to our government for a suitathing very unusual, that obliged him to stop the mill; ble recompense, but no attention was paid to it. A upon examination, it proved to be a cannon ball, of report of this invention, however, reached Petersfour pounds weight, completely grown over, so asburgh, and Mr. Maulich was invited to present himto leave no mark. It appears evident, from every self to the emperor of Russia, at Aix-la-Chapelle. circumstance, that this ball was discharged from The Russian generals being satisfied with the truth the American battery on the day of the battle of of his assertions, he has been invited to establish in Brandywine, Sept. 12, 1777, as the tree in which it Russia a manufactory of this felt, upon the most was found grew just back of the ground where the 'beral terms. NEW SERIES. No. 16-VOL. IV.] BALTIMORE, JUNE 12, 1819. [No. 16-Vol. XVI. WHOLE NO. 406 THE PAST-THE PRESENT—FOR THE FUTURE. PRINTED AND PUBLISHED BY HI. NILES, AT $5 PER ANNUM, PAYABLE IN ADVANCE. The clitor, during his late absence from home, devoted a part of his time to a walk up the Brandywine, in Delaware, an account of which and of the manufactories on that beautiful stream, is in a state of preparation: and it is believed that, from the minute enquiries and memorandums made on the spot, an exposition will be offered of considerable interest to the people of the United States. The series of essays on the "nitigation of slavery," is intended to be resumed next week. More than verified, and too soon.-A little while ago, we said that before the next meeting of congress, flour would be sold at $5 per barrel, and cotton at 15 cents per lb. Both of these articles are already below the minimum we expected. Flour has been sold at $4.75 in Baltimore, and cotton at 12 cents, in South-Carolina. But these can hardly as yet be considered fair prices. United States' bank stock is said to have been sold at Philadelphia for 94 dollars, and at Boston for 93. folks creatures without spirit; mere animals-but necessary drudges, producing something to keep the system a-going. Arbitrary distinctions were raised in society-the borrower of $100,000 was a gentleman of rank; the farmer and mechanic worth 10,000 was nothing: a nobility was fixing itself upon us. The president of a bank, (if bankrupt so much the better!) possessed a mansion more elegant than that of many German princes-and I am told that one merchant who lately failed to the eastward, yet lives in a house for which, and its furniture, he was offered $200,000 in real money, and refused it! Such is a faint picture of the past. The people, thus placed on end, like idle boys put up bricks in a row, looked very promising; but they were out of their natural order, and stood upon a sandy foundation. Paper alone, could not any longer do the business for them-discounts and interests, with the shaving of bank notes and their own notes, had eaten up the substance which they possessed before the rage for signing their names operated upon them→→ and one is knocking down another at such a rate The past-the present, and the future. as never was heard of before. Scenes of speculation For several years, the people of the United States are revealed, and revealing, that sober people had have been rioting on expedients. If a community no idea of Their effect penetrates through all wanted money, it had nothing to do but to make classes of society-the day-laborer feels it, and sufa BANK-if an individual desired it, he was only fers, because Mr. Highflyer could sign his name required to sign his name to a piece of paper, prettily, and thereby cause his paper to pass through provided always, the bank-makers thought he was some of the banks! The farmer who improved his able to meet the obligation. Millions on millions plantation by building a costly dwelling, on credit, were daily passed from one hand to another, with-is compelled to sell both farm and dwelling to pay out much reality in them, save in anticipated facili- the debts incurred in erecting the house!-a pipe ties; those worth a thousand dollars fearlessly sign- of wine or a cashmere shawl, compels some mered for tens of thousands, and others worth ten chants to stop payment! I have heard of one man thousand put down their names for hundreds of who failed for more than $500,000, whose private thousands.. Paper-credit-a directorship or a wine vault, as it stood at the time of his bankruptcashiership in a bank, or a father, brother, cousin or cy, was estimated to have cost him $7000. This is friend, who was a director or a cashier, was the test said to have happened in the sober city of Philadel of respectability! Sign away, was the word and it phia. National industry has been paralized, and was generally calculated that one debt might be the balance of trade against us makes a mighty paid by the creation of another! The people were amount. It is true, that John Bull will suffer sewild- they acted as if a day of reckoning never verely by the latter; but in accomplishing the form.. would come. They bought plantations and country er he will be a gainer in the end. Our manufacto seats; built stately houses and furnished them in theries must very generalir stop, unless aid is afforded most costly manner; had their coaches and coach-them at the next session of congress--and tens of men, feasts and tea-parties;-despising industry and thousands of the productive classes will be thrown economy, and indulging themselves in all sorts of into the useless and consuming. Money is scarce, extravagance. Money, so called, was obtained so because so much of its representative has been spent easily that few felt the value of it, and we seldom on things that cannot now be converted into it-it encountered the disagreeable idea that it was not wants circulation, because confidence is lost, and our own! Every thing was to be done by manage- those who have it know not how to part with it safement-by "financiering" as Jacob Baker says, speak-ly. The banks, resolved to pay their debts, cannot ing of the "millions" which he had passed through discount, because few debts are paid to them, if his hands-or, in plain English, by "causing one they can stand as they are, they will do very well. rag to do the business of another rag." Thousands No demand for cotton, tobacco or bread stuffs were striving to get to the top of the wheel-to abroad, except at such prices as we cannot afford to Read the fashion, or rival its prodigalities. The raise them at, in the present manners of the times. country had the appearance of the highest prospe- We have a full view of these manners in the conduct rity. The old comfortable farm house was convert- of the bank of the United States--apparently using ed into a kitchen for a new mansion, and palaces its vast power, through the government deposis, took the place of cottages. In the cities, every thing on the pretext of being compelled to pay about was pell inell-reason seemed turned topsy turvey: 2.600,000 on the Louisiana loan, to prostrate, not fifteen dollars a yard for cloth for a coat, nine hun-only the whole body of speculators in its own stock, dred or a thousand dollars for a shawl; eight or ten but needlessly to embarrass the good state banks, dollars for a gallon of wine, and fifty for a bonnet; forbidding them to accommodate their old and retown houses-country houses-stile- ALL OF PAPER. gular customers. I say "needlessly," because this The sober and discreet were thrown aside as vulgar bank is now in the act of expending almost as much VOL XVI.-18. money in useless heaps of brick and stone, except on account of the employment which its disbursement affords. This is just like a man who has not market-money enough, and yet gives a dollar to see a play. We have heretofore said that fashion, or pride, wastes more than convenience wants. We are now about to pay for the "whistle." A season of unparalleled distress is arriving; the worst will soon be upon us, and then-things will mend. What ought the people to do for future safety? they are known to be men of real wealth, acquired by known means- we may generally conclude that such a bank, in times like these, is as a public blessing, and we should rally round it-regarding it as a test whereby the worth of labor and property is to be ascertained. We should give its notes all the currency in our power, "keep them out," as the phrase is, as long as possible, and frown indignantly upon any one who may run upon it unnecessarily for specie. But on the contrary, when the reverse of these things exits, it is a good index that the bank is a public nuisance, that it ought to be made to pay its debts, become bankrupt and close its concerns. We have too many banks by at least one half, and there is no other way than this of getting clear of them. When two hundred in the U. S. are dissolved the rest will be able to give us a wholesome curren cy, in sufficient quantities, and we shall hardly find knots of managers whose discounts and over drawings amount to more than the capital of their institutions; as now is the case perhaps, in many instances. We shall have fewer "rag barons"-but ease and comfort will be diffused through society; and economy, superadded to the terror of speculation, secure the future happiness of the people. Let us then resist every succedaneum that may give rise to fresh gamblings in paper. It is the laboring people who at last must pay the losses made by them. They should resolve to bear with, and forbear, for a few months, and firmly meet the adversities of the times, rather than saddle subsequent productiveness as triumphant seats for new mad rauders. All that we have suffered or are now suffering, will have to be suffered again-if we yield one inch to the monopolizers. The instant that bank notes are no longer the representatives of specie, we shall have a new bank for every day in the year. It is cash payments, only, that can defend the people from swindling banks and bankers. Banks and Banking. Speculators have had their day, and the end is exactly what we long ago predicted-such as every reflecting man saw it would be. Now is the time that honest men should combine, to force and sustain a most wholesome purgation. The war of rags against property has had its turn, or is now raging, and will yet rage severely. It must have its course-there is no help for it, and any protraction of its conSummation will only increase the difficulties heaped upon us, through our own foolish acts or the sufferance of folly in others. Any relief afforded by the issue of a new kind of paper money, will only tempt new speculations, and raise up a new race of gamesters, to inflict new calamities, and perish like their predecessors. I am aware that on account of this sentiment, as well as for others which I have lately advanced, there are some who may think me cold to the miseries of my fellow citizens. Heaven knows I am not--though many persons have failed and will become bankrupts, for whom, as individuals, I have no sort of commisseration, because they would have monopolized every thing, and did unjustly prey upon PRODUCTIVE INDUSTRY, there are others so situated with whom I would freely divide my last loaf of bread, because they are only unfortunate; and will literally divide that loaf rather than by any kind of quackery, levy a double tax upon my future subsistence. What do we think of a person who accidentally or through carelessness, getting half-drunk, renders himself wholly so, to relieve himself of the disgrace and misery belonging to a half-drunken condition? Yet this is exactly the policy which many interested persons would per. THE CITY BANK. The bills of this bank are up suade us to, by urging a suspension of specie pay-longer considered "current money" in Baltimore, ments by the banks, or in issuing a new paper me- though no doubt is entertained of an ultimate abidim. I suffer in common with others-nearly the lity in the institution to retire the whole that are in most delightful hope that I ever entertained, and circulation. This is, however, sorry consolation in which it was fully believed would have been real-times like the present, wherein few persons in buized, has been blasted by winding-up of the paper siness have funds provided for a week a-head. The system- but industry and perseverance may yet ac- annual election came on on Monday last. Several complish it, and I will not grant any thing to de- of the old directors were left out-and it is suppos spair. Let every one hold to such resolutions, sup-ed that a rigid scrutiny into the affairs of the bank porting them by economy, and we shall yet acquire will be made, to be laid before a general meeting of a solid, honest independence. The trial is a hard the stockholders, directed by the board to be one; but the just must suffer with the unjust held on the 5th of next month: at which it seems to it is even so that the tempest descends from above. be the opinion of many, that a proposition will be It is freely admitted, that the banks, en masse, made to close the affairs of the institution; which, cannot pay their debts: but there are enough who for the sake of the public, as well as those immedi. can pay them, to afford us a criterion of value that ately concerned, we hope will be agreed to. will not deceive us. Others, whose discounts have A list of persons, 10 or 11 in number, has been been monopolized by their presidents, directors, very freely circulated through Baltimore, who are and cashiers, and half-dozens of favorites, will go by said to have obtained discounts at this bank to an the board-and they ought to go. The first should amount exceeding 550,000 dollars, and it is intimatbe protected, and the latter destroyed. The peo-ed, that certain of these had also overdrawn upple can do much in respect to either; and though wards of 150,000 more! We are assured that this the business of banks is so much a secret to the pub-statement is incorrect, in regard to several indivilic, there are certain indications which may lead to tolerably correct conclusions. When we know that a bank is accustomed to loan small sums of money, in preference, to productive men--when we see that the president, directors and cashier live plainly, like common citizens, not blinding us with the dust of their carriage wheels, nor astounding us with the cost of their houses, furniture and plate, &c. unless duals named; but it appears to be universally agreed, that the facilities afforded to a few were of an enormous extent. There are some wonderful stories told about several persons concerned in the management of this institution, and a contradictory, and to us an incomprehensible tale, about a considerable quantity of specie claimed by one of the tellers. But when rumor is busy, truth is hardly discovered, and we shall wait for the statement that is Deeming it of importance to acquaint our traders to be presented to the stockholders-which it is of the value of this paper, and to caution them hoped, will gives us a view of the whole ground-against receiving it, 1 respectfully offer this for all who are creditors of the bank have a right to publication. demand it. M.. Having in our last paper stated our willingness PROCLAMATION! Whereas, by the preceding to receive the bills of this bank, in payment of debts statement it appears that the notes of the City ban due for the WEEKLY REGISTER, as we were then in-of Baltimore are "REFUSED" in all directions, and formed-it is needful for us now to say, that said that those of all the rest of the banks “are considernotes will be taken from our subscrioers in the ed very suspicious," be it known that I, Hezekiah country, for two weeks after this notice shall have Niles, proprietor, editor, publisher and printer of had time to reach their respective residences. Ifit is the WEEKLY REGISTER, moved thereunto by a reconcluded to receive them after that period, the gard for the interests of my numerous friends and fact shall be stated in a future publication. We subscribers in all the states and territories of the caution the people however, against a new specula- United States, will condescend, out of my own great tion arising from the failure of the City bank-we magnanimity, to receive, at this time, the notes even learn that some of its notes have been sent off to dis- of the City bank, from distant persons, and of all pertant places, to be disposed of as par paper; to unin-sons whatsoever those of the banks considered "very formed farmers and others. suspicious" to the amount of twenty-five thousand dol A man easily believes what he wishes. The lars, which is about the sum of money now due to business of the City bank has given confidence to me on account of this work. And, I have further to certain reports in Philadelphia, as false as they are make known, that hundreds of merchants and traungenerous-and the much magnified acts of indivi- ders in Baltimore, will in like manner condescend to duals are charitably charged to a community, who accept of their country customers, said notes to the would be as indignant on account of them, if the re-amount of a few millions more, than the whole in ports were true, as the "moral people" of that city circulation, at home and abroad!!! would make us believe that they are. There are "Done" at my printing-house in Baltimore, this few of us who cannot find enough to censure in our- 12th day of June, 1819. selves if we look at home. H. NILES, Witness present, (signed) S. B. chief clerk. BALTIMORE BANKS. All our banks pay specie for their bills to any amount, except the City bank,] which redeems only its notes for less than $5, at But,to be serious. The incessant endeavors present. We are also warranted in stating, that of too many persons in Philadelphia to injure Baltineither of them has any intention of stopping specie more, shews a want of liberality, or a malignant payments, even to "brokers,” as in North Carolina. envy, which we feel it our duty to reprehend in se It is understood, that some of them are on as good averest terms. That we have greatly sinned, we footing as any banks can easily be-and in cases humbly acknowledge-that, in about 15 years we where such institutions have been fairly conduct- have had two mobs, and were lately in possession of ed, it is a duty which the people, in town and coun- too many speculators, too many sheer privateersmen; try, owe to themselves, in the present state of af-charged also, with having some dealers in the flesh fairs, to rally round and support them. We most of men, how truly, as to the latter, we cannot say. ardently desire that the "paper system" should be But is Philadelphia guiltless?* No-no; but we do retired as fast as the nature of things will admit of, not "note down" her sins, and trumpet them to the until we get it within due bounds; but to destroy it world, in ingenious deformity, to blacken her chaaltogether, is an act of suicide. We always regret racter. We are not jealous of Philadelphia. Though to hear of the failure of a bank; but rejoice when she is our superior in population and capital, we exwe learn that any one has resolved to close its con- ceed her in the amount of our tonnage, and believe cerns and dissolve its incorporation. It is a serious that, by the operation of natural causes, this city, so fact, that the multiplication of banks makes what happily situated for the purposes of trade and manis called money more scarce, and we are confident ufactures, will soon have a population and capital that if three fourths of these now existing were superior to her's. As yet, we labor under all the withdrawn, we should not feel half the difficulty that disadvantages of a newly-collected people. Our at this time presses upon us; and the power of the manners are not fixed, as in the elder cities. Not bank of the United States, to operate on the local one inhabitant in twenty, over 21 years of age, was banks, would be exceedingly lessened. probably born here-forty years ago, and Baltimore was a village; many persons are living who recol lect the building of the first sea-vessel here,-who Gentlemen-Having occasion to visit Baltimore, have seen cornfields and native forests in what is (from which place I have just returned), I was asto. the thickest built parts of the city. We have nished to find the notes of the CITY BANK REFUS- about 65,000 inhabitants. If the morals or manED there in all directions, and the other banks consi-ners of our people are worse than those of Phidered very suspicious; which, from the reports of ladelphia, Christian charity could easily find excusconfidence being fully restored as announced in oures for us, if commercial jealousy permitted the inpapers, I had no reason to expect, and was conse-fluence of this highest attribute of All Goodness. quently much surprized. But it has pleased Providence, that the Susquehannah should empty into the great bay on whose wa. Without designing a peculiar distinction, weters we are located, that some of the richest counties venture to say, that the two oldest banks in this city, of Pennsylvania should be nearer to us than they are the bank of Maryland and bank of Baltimore, are to Philadelphia, that the mighty western streams are sable, if not more able, to pay their debts than any at a less in distance from this city than from her; banks of discount and deposite in the world. We BALTIMORE BANK NOTES. From the Philadelphia Freeman's Journal, addressed to the editors believe, that they can pay a dollar in specie for every *We are satisfied that a part of her capital has dollar of their notes in circulation, if all were p:e-been employed in these things; but her people are uted in one day. | more mode that some have been here. |