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The Portuguese Sproceeded
an'a Horded to cures of cot; and
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 itse!;" 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 eyince 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 cost
favorable aspec!;" because if the inaxim could pos. The immense importance of the case of Portugal, sibly ever be salutary or even safe, it must be when induces us to place before the eyes of our fellow cialin
in universal operation. tizens two comparisons of her conduct with oursin the one, the soundness of her policy places us in the following picture of the state of the western the back ground an entire century in point of poli
country, is taken from the Frankfort Argus, and Lical wisdom in the other, her impolicy and her
evinces the insanity of not making some prompt consequent sufferings and distress are the counter
and decisive effort to relieve the nation from its part of the system we have pursued, and the calami
disastrous situation. ties under which we writhe.
"Never within the recollection of our oldest citi
zens has the aspect of times, as it respects properStriking contrast,
ty and money, been so alarming. Already has proPORTUGAL.
THE UNITED STATES. : Jperty been sacrificed in considerable quantities, in “The Portuguese set up a fa. Nothing whatever probibited
this and the neighboring counties, for less than half
hi drie of their own, and proceeded -and utterly inadeguate protee. .. inic with very gond success, af tion afforded to the great and
throbilicion of ours and all learling manufactures of cot- and that little is daily diminishing by the universal fureign coloured cloth. We had tons and woolens, lest "the many then nothing left against their should be tared for the benefit of cloths, but to introduce our cloth the few!!!"and in order to buy serges and eloth druggets, into where goods could be had cheap that country. They quickly est !!!" found that these gave some in.
thousand dollars, are hanging over the heads of our terruption to their manufac
citizens. WHAT CAN BE DOXE? In a few months no Fures, and therefore they pro. ceeded also to prohibit foreign
debt can be paid, no money will be in circulation to #crges and drugst.”•
answer the ordinary purposes of human life. War.
rants, writs, and executions will be more abundant Striking likeness.
than bank notes:and the country will present a scene PORTUGAL,
THE UNITED STATES. of scuffling for the poor remnants of individual for. “Before the treaty our wool. During the war, cotton, wool tunes which the world has not witnessed." ed cloths, clotb series, and cloth en, and other kinds of goods druggets were prohibited in Por. were not prohibited--but there tugal. They had set up fabrics were few imported. The citi. there for making cloth, and pro- zens of the United States set up
Foreign Articles. ceeded with very good success: fabrics for making cloth, both
GREAT BRITAIN AND IRELAND.. and we might justly apprehend woolen and cotton, and, had the they wonld have gone on to war continued, or had triey
London dates of April 19. erect other fabrics, till at last received protection after it was they bad served themselves with culciuded, they would bare every species of woolen mang. gone on to erect other fabrics, faetures.. Tlie treaty takes off cilt they had served themselves
sume all prohibitions, and obliges Pure witb every species of manufac; tugal to admit forever all our ture. The treaty of peace oper woolen manufactures. Their ed our ports to foreign mer. own fabrics by this were present. cbandise, under duties utterly' The manufacturing districts are dreadfully dis. Ly ruined. And we exported inadequate for protection, 1.100.000 value in the single ar whereby a large portiori of our
2 tressed. At Leicester, within 10 days, it is said ticle of elutiis, the very year af fabrics were wholly ruinell--and, that 5000 persons were thrown out of employ-Cer the treaty,"t
probably within a ytar alter the though the price of cotton ruas expected to decline fur.
The London newspapers advertise no less than «The court regs peatered with Congress was most respect remonstranices from their mans fully iubreated for adequate pro J'fteer sri pe to take out passengers to America. facturers when the prohibition tection, when the war was clos- whose tonnage amount to 8200 tons; and the Belfast mas taken off pursuant to Mr. ed. They refused il-and dis papers nearly as many more.-By the returns of the Methien's trenty. But the thing tress and ruin of the manufact was past. The trcaty was rati- cures and the impoverishment of latter port, it appears that about 11,000 persons sfied. and TIBIR LOUMS the nation followed.
emigrated to America from thence last season, WERE ALL RUINED. And
amongst whom were upwards of eezen hundred famiset there was no tendency to a revolt, although so many peo ple were deprived of their em
The Circassian girl which the Persian ambassador ployment in that country by
was bringing as a present to the prince regent, was taking of the prohibition."
"The balance was so very The balance of trade is so very closely guarded. What will the prince do with great, that notwithstanding we great, that not withstanding w paid subsidies to the king of bave shipped innichse quantiPortugal, and paid for troops, ties of produce at high prices- London, April 10. Numerous emigrations are there were also vast supplies of and remitted about 20.000,000 now taking place from Yorkshire, chiefly for the U., our arties in Valencia and Cae dollars of governinent and bank
Staies-buta considerable number havi also recent. talonin, yet still the overbalance stock, we are still beavily in tay so much against them that delt, and unable to pay lv gone to South America, and many others are there was ten, iwelve, and fif
preparing to follow them. The mischief of these teen percent difference bet
expatriations is increased by the emigrations allud"tween the exchange and the inErinsic value of the money.'
ed to, being not composed merely of poor distres
sed artisans, who are in quest of food and employ* British Merchant, vol. iii. p. 35.
ment, but chiefly of persons possessed of property, fIdem vol. iii. p. 253.
sufficient to reader them confortable in their own Ide in p. 75. Idem p. 91,
British soldiers were encamped. From that time to A late London paper speaks in very unfriendly the present is more than forty one years, that it has terms of France for her efforts to assume a military lain perfectly harmless, though we cannot say what rank, and on account of the seizures of British goods, damage it may have done in its passage from the gun only for attempting to smuggle them into the coun. to the tree.- Village Record. try.
| The steam boat Richmond, on the Jame's River, AFRICA.
| lately made an excursion to City Point, at the rate The slave trade is still very brisk-chiefly to sup- of fourteen miles an hour. ply the Spanish colonies. The British cruisers cap- U. S. bank stock 290 offered for a small parcel, ture many slave ships and send them to Sierra Le- in Philadelphia --924 asked: No sales. U.S. 6 per
cent. stocks, 102 a 103, sales. SOUTH AMERICA.
American artists. Messrs. Perkins and Tappan, By an arrival at Baltimore on the 1st inst, from engravers, froin 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 i 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 aitached to the company. tants over 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 erpedition. It is stated that the U. S, ships Ay to the mountains for refuge. At the last of April, John Adams and Ontario, with the brig Enterptize, general Hore (royalist) entered Porto Bello at six in the whole under coinmand of com. Perry, are to be the morning, and surprised MacGregor and his fol. I immediately prepared for a cruise in the Pacific lowers, who were asleep. MacGregor and five or locean. sis of his men escaped with difficulty by leaping
| Charleston, May 22. We are informed that the from a window twenty feet high and swimming on board of one of his vessels.
application of capt. Blackler, of his B. M. ship Lee, : Five hundred prisoners have been sent to Pana. I to our government, for the British scamen who joinma. There were 60 men killed, and 40 wounded,
ed the crew of the piratical ship Louisa, as heretothe greatest part of whom were officers. Strag
fore stated, has been unsuccessful—Their surrenglers were daily brought in from the neighboring
der was refused probably on the ground that they mountains. The royalists lost two men killed and
5 are equally as amenable to the laws of the United
States as to those of Great Britain. four wounded.
They will be We learn by way of New York that, "a geutleman
tried at a special session of the circuit court, to be direct from Angostura, which he left on the 3d inst.
hollen in this city on the first day of June next. informs that Bolivar was on the right bank of thel Missouri. A letter dated at Franklin, Howard Arauca with about 4000 men, including a division of county, Missouri, states, that the land sales which 900 Englislimen.-Morillo was on the opposite side took place lately produced about seven millions to with 6000. A brilliant affair took place on the 11th the government--the average price per acre, fire of April, betwecn the cavalry of the patriot general dollars.—The population of this county, according Paez, 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.
emigrants and purchasers at the sales, was wholly unexpected and unexampled. Keel boats already
descend the Missouri with produce, from Franklin CHRONICLE.
to New Orleans. Col Towson, we are sorry to be informed, has re. Progress of Improvement.--As evidences of the signed his commission in the army.
rapidity with which the comforts and conveniences The Farmers and Mechanics bank of Cincinnati lot!
of society extend themselves into the remotest set. has effected the contemplaied arrangement with
tlements ofan enterprizing people, it is worthy of the treasury of the U.S. and is now paying specie
notice that stages for passengers already run thrice for its notes. By, the late arrangements in Ohio, the
a week from St. Louis to St, Charles in Missouri; bills of several banks are now received in payment
twice a week from it. Louis to Edwardsville, and for lands.
once a week to Kaskaskias, in Illinois; and that they The sciota (Ohio) Gazette, of May 14, says: “On
are about to be established from St. Louis to Vin, Friday morning last two waggons, loaded with specie, from the branch of the U. States' bank in this
cennes, and from St. Louis to Franklin, two hun
this dred miles up the Missouri river.-Nat. Int. place, took up the line of tnarch for Philadelphia.
From a French paper. A hatmaker, of Cassel, The amount of specie which has thus left our state,
named Maulich, has discovered a method of manu. is estimated at from 120,000 to $140,000.”
facturing fell, so as to make it impenetrable to the At-a saw mill one mile cast of Chacld's ford, across stroke of a sabre, in the hands of the strongest cai. the 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 suitsthing very unusual, that obliged him to stop the mill; ble recompense, but no attention was paid to it. A upon examin:tion, it proved to be a cannon ball, of report of this invention, however, reached Petersfour pounds weight, completely grown over, so as burgh, and Mr. Maulich was invited to present himto leave no mark. It appears evident, froin 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 de was found grew just back of the ground where the 'beral terms.
NEW SENIes. No. 10-Vol. IV.] BALTIMORE, JUNE 12, 1819. No. 16VolXVI, WHOLE No. 400
THE PAST THE PRESENTFOR TUF FUTURE.
PRISTED AND PUBLISHED BY I. SILES, AT 5 PER ANNUM, PAYABLE IN ADVANCE,
The clitor, during his late absence from home, ! folks. creatures without spirit; mere animals.-- but devoted a part of his time to a walk up the Brandy-/ necessary drudges, producing something to keep zeine, in Delaware, an account of which and of the the system a-going. Arbitrary distinctions were manufactories on that beautiful strcam, is in a state raised in society-the borrower of S100,000 was a of preparation: and it is believed that, from the mi- gentleman of rank; the farmer and mechanic worth nute enquiries and memorandums made on the spot, 10,000 was nothing: a nobility was fixing itself upon an exposition will be oficred of considerable inte us. The president of a bank, (if bankrupt so much rest to the people of the United States.
the better!) possessed a mansion more elegant than The series of essays on the "mitigation of slavery," that of many German princes and I ani told that is intended to be resumed next week.
one merchant who lately failed to the eastward, yet More than verified, and tao 8001.- A little while lives in a house for which, and its furniture, he was ago, we said that before the next meeting of con. offered S200,000 in real money, and refused it! gress, four wouid be sold at $5 per barrel, and cot. Suclidis a faint picture of the past. The people, ton at 15 cents per lb. Both of these articles are thus placed on end, like idle boys put up bricks in already below élie minimum we expected. Flour a row, looked very promising; but they were out of has been sold at S 4.75 in Baltimore, and cotton at their natural order, and stood upon a sancy founda12 cents, in South-Carolina. But these can hardly tion. Paper alone, coukl not any longer do the as yet be considered fair prices.
: business for then--discounts and interests, with tho United States' bank stock is said to have been sold shaving of bank notes and their own notes, had eaten at Philadelphia for 94 dollars, and at Boston for 93. 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. I 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 efiect penetrates through all wanted money, it had nothing to do but to make classes of society-the day-laborer feels it, and sufQ BANK-if an individual desired it, he was only fers, because Mr. Highlyer could sign his name requireil to sign bis 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 inprovci his able to meet the obligation, Millions on millions plantation by building a costly dwelling, on credit, were daily passed from one hand to anothier, with is compelled to sell both farm and dwelling to pay out much reality in them, save in anticipaied 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 mere ed for tons 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- creditma directorship or a wine vault, as it stood at the time of his bankrupta cashiership in a bank, or a father, brother, cousin or cy, was estimated to have cost liim $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 Juhn Bull will suffer sewild- they acted as if a day of reckoning neververely by the latter; but in accoinplishing 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 the riesinust 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;---clespising 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 casily 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 QUr own! Every thing was to be done by manage those who have it know not how to part with it safe. milent--by "financiering" as Jacob Baker says, speakly. 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. raz 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 Head 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 fiill view of these manners in the conduct rity. The old comfortable farm house was convert of the bank of the United Statesmapparently using el into a kitchen for a new mansion, and palaces ils vost power, through the government deposs, 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 Gifteen dollars a yardi for cloth for a coat, nine hun. Only the whole body of speculators in its own stock, dred or a thousand collars for a shawl; eight or ten but neeellessly 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 “tieedlessly,” because this The sober and discreet were thrown aside us vulgar! bank is now in the act of expending almost as much
VOL XVI. 18.
money in uscless heaps of brick and stone, except they are known to be men of real wealth, acquired oil account of the employment which its disburse by known means we may generally conclude ment affords. . This is just like a man who has not that such a bank, in timcs like these, is as a public market-money enough, and yet gives a dollar to see blessing, and we should rally round it-regarding it at play. We have heretofore said that fashion, or as a test whereby the worth of labor and property prive, wastes more than convenience wants. We is to be ascertained. We should give its notes all are now about to pay for the “whistle.” A season the currency in our power, “keep them out,” as the of unparalleled distress is arriving; the worst will phrase is, as long as possible, and frown indignantly soon be upon us, and then-things will mend: What upon any one who may run upon it antecessarily ought the people to do for future safety?
for specie. But on the contrary, when the reverse Speculators have had their day, and the end is of these things exits, it is a good index that the bank exactly what we long ago predicted such as every is a public nuisance, that it ought to be made to pay reflecting man saw it would be. Now is the time that its debts, become bankrupt and close its concerns. honest men should combine, to force and sustain a We have too many banks by at least one half, and most wholesome purgation. The war of rags against there is no other way than this of getting clear of property has had its turn, or is now raging, and will them. When two hundredin the U. S. are dissolved yet rage severely. It must have its course—there the rest will be able to give us a wholesoine curren. is no help for it, and any protraction of its conecy, in sufficient quantities, and we shall hardly find sunimation will only increase the difficulties heaped knots of managers whose discounts and over drawings upon us, through our own foolish acts or the suffer- amount to more than the capital of their institutions; ance of tolly in others. Any relief afforded by the as now is the case perhaps, in many instances. We issue of a new kind of paper money, will only tempt shall have fewer srag barons”-but ease and comnew speculations, and raise up a new race of game fort will be diffused through society; and economy, sters, to inflict new calamities, and perish like their superadded to the terror of speculation, secure the predecessors. I am aware that on account of this future happiness of the people. sentiment, as well as for others which I have lately Let us then resist every succedaneum that may advanced, there are some who may think me cold to give rise to fresh gamblings in paper. It is the la the miseries of my fellow citizens. Heaven knows boring people who at Tast must pay the losses made I am not--though many persons have failed and will by them. They should resolve to bear with, and become bankrupts, for whom, as individuals, I have forbear, for a few months, and firmly meet the ad. no sort of commisseration, because they would have versities of the times, rather than saddle subse. monopolized everything, and did unjustly prey upon quent productiveness as triumphant seats for new maa PRODUCTIVE INDUSTNr, there are others so situated rauders. All that we have suffered or are now sufwith whom I would freely divide my last loaf of fering, will have to be suffered again—if we yield bread, because they are only unfortunate; and I one inch to the monopolizers. The instant that will literally divide that loaf rather than by any bank notes are no longer the representatives of spe. kind of quackery, levy a double tax upon my fu-cie, we shall have a new bank for every day in the ture subsistence. What do we think of a person year. It is cash payments, only, that can defend who accidentally or through carelessness, getting the people from swindling banks and bankers, 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
Banks and Banking. policy which many interested persons would per. TAE CITY Bank. The bills of this bank are un 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- thougla no doubt is entertained of an ultimate abi. direm. I suffer in common with others-nearly the lity in the institution to retire ihe 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 sistem -- 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 afl'airs of the bank porting them by economy, and we shall yet acquire will be made, to be laid before a general meeting of à 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- beld 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 indivi. lic, there are certain indications which may lead to duals named; but it appears to be universally tolerably correct conclusions. When we know that agreed, that the facilities afforded to a few were of a bank is accustomed to loan small sums of money, an enormous extent. There are some wonderful in preference, to productive men when we see that stories told about several persons concerned in the the president, directors and cashier live plainly, management of this institution, and a contradicto. like common citizens, not blinding us with the dust ry, and to us an incomprehensible tale, about a conof their carriage wheels, nor astounding us with the siderable quantity of specie claimed by one of the cost of their houses, furniture and plate, &c. unless tellers. But when rumor is busy, truth is bardly
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, I respectfully offer this for all who are creditors of the bank have a right to publication.
M. demand it...
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 subscribers in the led very suspicious,, be it known that I, Hezekiah country, for two weeks after this notice shall have Viles, proprietor, editor, publisher and printer of had time to reach their respective residences. If it is the WEEKLY REGISTÉR, moved thereunto by a réconcluded 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 tiniė, the notes even learn that some of its notes have been sent off to dis of the City bank, from distant perscris, and of all pertant places, to be disposed of as par paper; to unin. sons whatsoever those ofthe banks considered sisery formed farmers and others.
suspicious" to the amount of twenty-five thousand dol. A man casily believes what he wishes. The lars, which is about the sum of moncy now due to business of the City bank bas given confidence to me on account of this work. And, i bave further to certain reports in Philadelphia, as false as they are make known, that hundreds of merchants and traa ungenerous and the much magnified acts of individers in Baltimore, will in like manner condescend to duals are charilably 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.
(signed) H. NILES, BALTIMORE BANKS. All our banks pay specie for) Witness present, their bills to any amount, except tiie City bank, S. B. chief clerk. " 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 Balti. neither of them has any intention of stopping spccie 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 a verest 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 cha. altogether, 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 carises, this city, so fact, that the multiplication of banks makes that happily situated for the purposes of trade and man. is 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 halfthe 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 BALTIMORE BANK NOTES. From the Philadelphia was a village; many persons are living wlio recol. Freeman's Journal, addressed to the editors." 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 BASK REFUS- about 65,000 inhabitants. If the morals or man.
ED there in all directions, and the other banks consi- ners of our people are worse than those of Phi. dered very suspicious; which, from the reports of ladelphia, Christian charity could easily find excus. confidence being fully restored as announced in our es for us, if commercial jealousy permitted the in. papers, I had no reason to expect, and was conse-Huence of this highest attribute of All Goodness. quently much surprized.
But it has pleased Providence, that the Susquehan.
nah should empty into the great bay on whose wa. Without designing a peculiar distinction, we ters 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 as ablé, 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 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 pie-been employed in these things; but her people are Futed in one day,
(more model that serne have heen here.