kind, which do not blend a considerable portion of error with the truths they inculcate.

classes of artificers or manufacturers, is exactly equal to the value added by their labor to the mateIn order to an accurate judgment, how far that rials upon which it is exerted; yet it would not has been just stated, ought to be deemed liable to thence follow, that it added nothing to the revenue a similar imputation, it is necessary to advert care of the society or to the aggregate value of the annufully to the considerations which plead in favor of al produce of its land and labor. If the consump manufactures and which appear to recommend the tion, for any given period, amounted to a given sum, special and positive encouragement of them, in cer- and the increased value of the produce manufacturtain cases, and under certain reasonable limitations. ed, in the same period, to a like sum, the total It ought readily to be conceded, that the cultiva- amount of the consumption and production during tion of the earth, as the primary and most certain that period, would be equal to the two sums, and source of national supply-as the immediate and consequently double the value of the agricultural chief source of those materials which constitute the produce consumed. And though the increment of nutriment of other kinds of labor-as including value, produced by the classes of artificers, should a state most favorable to the freedom and indepen- at no time exceed the value of the produce of land dence of the human mind-one, perhaps, most con- consumed by them, yet there would be every moducive to the multiplication of the human species-ment, in consequence of their labor, a greater value has intrinsically a strong claim to pre-eminence over of goods in the market, than would exist indepenevery kind of industry. dent of it.

But that it has a title, to any thing like an exclu- 2. "That the position, that artificers can augment sive predilection, in any country, ought to be ad- the revenue of a society only by parsimony, is truc mitted with great caution. That it is even more in no other sense, than in one which is equally approductive than every other branch of industry, re- plicable to husbandmen or cultivators. It may be quires more evidence than has yet been given in alike affirmed of all these classes, that the fund acsupport of the position. That its real interests, quired by their labor, and destined for their support precious and important as, without the help of exag- is not, in an ordinary way, more than equal to it. geration, they truly are, will be advanced, rather than injured by the due encouragement of manufactures, may, it is believed be satisfactorily demonstrated. And it is also believed, that the expediency of such encouragement, in a general view, may be shown to be recommended by the most cogent and persuasive motives of national policy.

It has been maintained, that agriculture is not only the most productive, but the only productive specics of industry. The reality of this suggestion in either respect, has, however, not been verified by any accurate detail of facts and calculations; and the general arguments, which are adduced to prove it, are rather subtile and paradoxical, than solid and convincing.

Those which maintain its exclusive productiveness, are to this effect:

And hence it will follow, that augmentations of the wealth or capital of the community (except in instances of some extraordinary dexterity or skill) can only proceed, with respect to any of them, from the savings of the more thrifty and parsimonious. 3. "That the annual produce of the land and labor of a country can only be increased in two ways, by some improvement in the productive pow ers of the useful labor, which actually exists within it, or by some increase in the quantity of such labor: that with regard to the first, the labor of artificers being capable of greater subdivision and simplicity of operation than that of cultivators, it is susceptible in a proportionably greater degree, of improvement in its productive powers, whether to be derived from an accession of skill, or from the application of ingenious machinery, in which parti"Labor bestowed upon the cultivation of land, pro- cular, therefore, the labor employed in the culture duces enough, not only to replace all the necessa- of land can pretend to no advantage over that enry expenses incurred in the business, and to main-gaged in manufactures; that with regard to an augtain the persons who are employed in it, but to af-inentation of the quantity of useful labor, this, exford, together with the ordinary profit on the stock cluding adventitious circumstances, must depend or capital of the farmer, a net surplus, or rent for essentially upon an increase of capital, which again the landlord or proprietor of the soil. But the la- must depend upon the savings made out of the rebor of artificers does nothing more than replace the venues of those who furnish or manage that which stock which employs them, or which furnishes ma-is at any time employed, whether in manufactures,or terials, tools, and wages, and yield the ordinary in any other way."-TO BE CONTINUED. profit upon that stock. It yields nothing equivalent to the rent of land. Neither does it add any thing to the total value of the whole annual produce of the land and labor of the country. The additional value given to those parts of the produce of land, which are wrought into manufactures, is counter balanced by the value of those other parts of that produce, which are consumed by the manufacturers. It can therefore only be by saving or parsimony, not by the positive productiveness of their labor, that the classes of artificers can in any degree augment the revenue of the society."

To this it has been answered,

1. "That inasmuch as it is acknowledged, that manufacturing labor reproduces a value equal to that which is expended or consumed in carrying it on, and continues in existence the original stock or capital employed, it ought, on that account alone, to escape being considered as wholly unproductive: that though it should be admitted as alleged, that the consumption of the produce of the soil, by the

Foreign Articles.

GREAT BRITAIN AND IRELAND.

Failure succeeds failure in England, with as much rapidity in the United States-and confidence between man and man is nearly destroyed-yet worse times are expected. The manufacturers are discharging many of their hands; and many more will be dismissed when the condition of things in the United States is fully known in England: the demand for her goods will be very small here-by those who are able to pay for them.

We were mistaken in saying a loan for the British government had been negociated by the Lohdon bankers. The amount and manner of it was not yet fixed upon. It is said however, in parlament that, at most, it will "only" amount to 25 millions-only 111 millions of dollars-but of this it seems about 2-5ths are appropriated to the national, debt.

་

About 500 Englishmen are said to be at Havre- 1119, of whom 17 were executed-of Forgery, 501, de Grace, to embark for the United States. The of whom 207 were executed-Horse-stealing, 852, rage for emigration is extravagant, and those sub-of whom 35 were executed-House-breaking in the ject to its influence are very generally manufactu-day time, and Larceny, 761, of whom 17 were excrers and mechanics, or of other productive classes. cuted-of Murder, 229, of whom 202 were executed At present, however, we are quite as willing that-Robbery on the person, the high way, and other they should remain where they are-American la places, 848, of whom 118 were executed-Making, bor is not appreciated at home. with various other offences of a capital nature, within said interval, a gross total of, convicted, 8430, of whom 1035 were executed.

In the London papers we have two reports from the select committee of the house of commons on the financial state of the nation. The first relates OFFICIAL ACCOUNTS!-From the London Gazette of particularly to the income and expenditures of the April 6.-A despatch from the Right Hon. George kingdom, and the second to the state of the army. Henry Rose, his majesty's envoy extraordinary and By the second, it appears, that the reduction of the minister plenipotentiary at the court of Berlin, to army, during the present year, will amount to near-viscount Castlereagh, K. G. dated ly 32,000 rank and file, making a total reduction "Hanover, March 26, 1819. since the peace of nearly 56,000 men, leaving still "Her royal highness the duchess of Cambridge in the public service nearly 70,000-On the first re- was safely delivered of a male child, at ten minutes port the London Star, an opposition paper, thus re- past two o'clock this morning, at Cambridge house, marks:-Te finance report is, in fact, virtually, a in this city.-His royal highness the duke of Cla declaration of national bankruptcy, although couch-rence, the earl of Mayo, and myself, attended her ed in that sanguine language in which bankrupts royal highness's confinement, and have signed a always represent their affairs when they can no formal declaration to the above effect. longer equivocate the truth to themselves, nor conceal it from their creditors. We owe about eight hundred millions sterling, to liquidate which we have 7.1,683,784-that is to say, we have an annuity which may redeem our debt in the course of about six hundred years or more-always supposing that we are to enjoy an undisturbed peace for all that period, and our revenue always to remain at its present rate."

The total expenditure of the united kingdoms for the year 1819, is estimated at L67,779. 882- as follows:

Interest of public funded debt unre

"Her royal highness and her child have passed the night quite well. He appears to be healthy and well grown.

[Then follows another "despatch” from the same minister, dated the day following, announcing that the duchess of Clarence had that day been delivered of a female child, which was born alive, was baptised by the name of Charlotte-Augusta Louisa, and died about four hours after, at the Fustenhorf.]

NAPOLEON BONAPARTE.

London, April 28, Monday evening the following persons, destined for the service of Bonaparte, in St. Helena, arrived in London:-The Abbe Bona129,348,845 vito, an aged priest; Doctor Viglioli; and professor Hotomarch, with a Maitre d'Hotel and Cook. ,15,591,989 Among the reasons given in Spain for a cession 144,940,834 of the Floridas, the chief advantage is said to be, that 1,180,692 the United States have engaged not to acknowledge the independence of Buenos Ayres! Good.

SPAIN.

The means of Spain to send out her great expedition to South America, is about the same as Capt. 1,269,274 Bobadil's for killing off a whole army. Every thing is to be done by anticipation, Ferdinand, how47,400,800 ever, has laid hold of 15 millions of francs which France has paid, to be divided among his subjects 2,000,000 for claims;-and calls it a "forced loan."

The Spanish fleet, from Havana, under convoy of the Sabine frigate, has arrived at Cadiz, with eight millions of dollars and a great amount of merchandize.

MEXICO.

It appears, that the port of Vera Cruz is opened 18,379,082 to British vessels, navigated under the British flag and laden with British merchandize, subject to ad valorem duties-all other nations excluded.

SOUTH AMERICA.

Total probable expenditure for 1819 167,779,882 The revenue is estimated at 54,000,000-leaving a positive deficiency of nearly fourteen millions. The The entire defeat of MacGregor seems fully payments on account of interest for debt redeem-confirmed. He himself, with a very few of those ed, &c. in the expenses, making a part of the es-immediately about him, escaped as the account timated receipts. Some small items, amounting to says.

in

half a million, are not noticed in the list of expenses. Kingston, Jam. April 13.-Accounts received via State of crime in England.-An official return, Maraycarbo, represent the royal cause in Venezuela printed by order of the house of commons, presents to be most prosperous. The independents were deone view an accurate representation of the state feated in every direction. Morillo's army was comof crimes made capital by the law in the several posed of 22,000 men! a great proportion of whom years, from the year 1805, to the year 1818, inclu- were creoles. An altercation had arisen, it is assive. From this it appears, that the total number serted, between Bolivar and col. English, respect. of persons convicted of Burglary in said interval, ing some circumstances in the management of the was 1874, of whom 199 were executed--of Larceny troops, which was deemed insubordinate on the part in dwelling houses to the value of forty shillings, of the latter, and he was allured to a certain district.

with a promise that his wishes should be complied with, when he was tried by a summary court martial, composed mostly of foreigners, and sentenced to be shot, which was carried into execution soon after. The number of British troops which had arrived to join the independents, was greatly magnified; they were not a third of the quantity which had been stated.

Recruiting, however, for the patriot service in Venezuela appears to be extensively carried on at Kingston, which the preceding paragraph, was, no doubt, invented to check.

Rogues out-Rogues in.

The president was at Athens, Geo. on the 21st ult. and partook of a public dinner there. Among the toasts drank on the occasion we notice the follow ing.

"The Colonization society.-Planned by the wisest heads and purest hearts. May it eventuate in the happiness of millions.

"The slave trade.-The scourge of Africa; the disgrace of humanity. May it cease forever, and may the voice of peace, of christianity, and of civilization, be heard on the savage shores."

His arrival at Nashville, Ten. was expected at our latest accounts of him.

A sailor's cogitations. Extract from the log-book of the ship Plato, of Baltimore, capt. Timothy Gard

For the following piece of excellent, and well merit-ner, just arrived from Bremen.
ed satire, we are indebted to the "Baltimore Te-
legraph."
There is, indeed, more danger to be
expected to, and by banks, from rogues inside,
than from rogues outside.
Friend in the grogram coat, with staff and spear,
What is your business-what your duty here?

To watch the bank."-The bank! why tell me
pray,

Think you the bank is like to run away?!
"No, no-but rogues and thieves, those cursed
chaps

Might break the locks and doors, and steal perhaps;
And I am paid for standing here all night,

To catch or frighten them, and keep all right."
Well since you're paid for't, watchman stand thy

post,

And see no stiver of the cash is lost;

At the same time, permit me, friend, to doubt
Such mighty danger from the rogues without-
I'd think the money better far applied
If you were paid for catching rogues inside.

CHRONICLE.

"June 2d. clear weather and smooth sea, light winds W. S. W. lat. 42 deg. lon. 59 deg. spoke and passed the elegant steam Ship SAVANNAH, out eight days from Savannah, bound to St. Petersburg by way of Liverpool. She passed us at the rate of nine or ten knots, and the captain informed us that she worked remarkably well, and the greatest com pliment we could bestow, was to give her three cheers, as the happiest effort of mechanical genius that ever appeared on the western ocean. She returned the compliment. "Thinks we to ourselves," European power (which God forbil,) we shall in a if America should every have another war with any short time have floating steam batteries at sea, as large as Fort M'Henry, when we shall have a better opportunity of returning shell for shell, than we had last siege, where many were stationed as targets to be shot at."

An Indian war brewing.-A letter from a gentleman at Belle Point, on the Arkansaw, to another in this city, says that the Cherokee and Osage Indians are on the eve of another war. That the Cherokees are the aggressors, it is said, there is no doubt.They had, within a few days, stolen forty horses A great man has fallen! Died, on Wednesday last, from the Osages; and, in taking them home, they kilafter a most painful and lingering illness, capt. led four men, and wounded several more. This GEORGE STILES, late mayor of Baltimore, in the 59th mode of procedure is looked upon by the Osage nayear of his age. He was privately interred, by his tion as a war measure, and justly. There are a numown request, on the following morning, in the pre-ber of the more northern Indians who are urging the sence of a few of his numerous friends-of whom the editor of the Register had the melancholy satis

faction to be one.

Osages to war, and offer them assistance, &c. It is said that Maj. Bradford, of the rifle regiment, who commands at Fort Smith, sent word to them if there was a war to be carried on, he must have a hand in it, and that they must and should suspend hostilities until they heard from him. He was to hold a council with them in a few days Nat. Int.

When such a man as capt. Stiles was dieswhen it pleases the ALMIGHTY to call one of his own noble and truly illustrious men from works to rewards, a void is left in society which the bereaved heart finds some consolation in attempting to fill up with a recollection or record of his virtues. Aed by the officers of the United States' troops desWashington's birth day was handsomely observdear friend of the deceased, the rev. Mr. Glendy, tined for the Yellow Stone, at Martin's Cantonment, with all the power of language and eloquence of 370 miles up the Missouri. feeling, did justice to his memory at the grave; and we too, must shortly claim the privilege of appropriating a part of this work to preserve a faithful| portrait of a man who was, under Divine Providence, a chief preserver of Baltimore*-a man whose unconquerable patriotism was rivalled only had a rapidity of settlement equal to that of any Howard county, or Boon's Lick, in the Missouri, has by the unbounded goodness of his soul. The firm- other section the west. The chief town, Frankness of character for which he was always so re-lin, contains about 1000 inhabitants. We have remarkable, endured to his latest moments; and he died like a prudent person would set out upon a long journey for which he was fully prepared.

*We should, perhaps, have said the "chief preserver of Baltimore," but capt. Stiles, himself, always ascribed the superior praise to com. RODGERS, and would accept for himself nothing more in compliment than that of having labored according to his ability, in common with others.

married a Miss Lamb, it is said that the lyon and the A certain Mr. Lyon, in South Carolina, having lamb had laid down together, and that a little child may lead them both.

ceived the first number of a newspaper published there, said to be from the first press that ever cros sed the Missouri"-It shews an appearance of business, containing many advertisements.

harpoons, has been found about 50 miles off our A Greenland whale, dead of wounds made by eastern coasts, and towed into Portland, Maine. It is supposed that this fish will yield 70 bbls of oil.

New religion! A person named Cochran has been endeavoring to get up a new religious sect, in Maine

-the practice of which was, indiscriminate sexual [nient stairs erected to descend to the bottom of the Intercourse, conducted in the most indecent man-falls, where a boat is kept to convey visitors to the ner possible. He himself had seven women that British side. The road from Buffalo to the falls has were more peculiarly for his own use, being high priest! This fellow carried on his manœuvres for about two years; but is at length arrested in his

course.

been considerably improved. To those who have visited this delightful part of our country, it will be unnecessary to recommend them to lodge on the American side; to strangers who intend to see this Naval matters. The Norfolk Herald informs us unrivalled spot, we can assure them, that bad inthat the John Adams, com. Perry, is lying ready for deed, will be the accommodation on this side, if it sea in Lynnhaven bay, and expected to sail imme-does not exceed that at Forsyth's, the only tavern diately with sealed orders on a cruise-she was to on the British side. be joined by the Constellation, Ontario, and Peacock; and that com. Perry would hoist his broad pendant on board the Constellation.

The object of this expedition is supposed to be to check piracy, and prevent the importation of SLAVES into the U. S.

Maine. A sketch of the proceedings of the legislature of Maine, are in type-and so far, favora ble to the object. Mr. Quincy made a motion in the senate intended to defeat the project, but it was negatived by 24 to 12.

N. Y. Com. Ad. Mr. W. R. Robinson. It will be recollected that this gentleman lately made his escape from the Spaniards, and sought safety in Gibraltar. It is now said, that the governor of Cadiz has peremptorily demanded his surrender. It was not known what course gov. Don, (of Gibraltar) would take in the matter.

Hydrophobia-Another fatal case has occurred at Philadelphia, and the people are much alarmed. An ordnance has been passed that a dollar reward shall be paid to any person who will seize or kill a dog after the 20th inst. found at large, with a penalty of $100 imposed on any person who shall molest any one in carrying the ordinance into effect.

Theatrical novelties. Mrs. Barnes at New York, and Mrs. Bartley at Baltimore, have each perform the part of Humlet, at the respective theatres in these cities.

New Hampshire. Gov. Plumer's fare well message to the legislature is inserted in the present sheet. This gentleman, like Thomas Jefferson, has the satisfaction to retire from office with greater popularity than he entered it. The concluding paragraph of his message contains as pure republicaned sentiments as we have ever met with. There is something very sublime in the reflection, that our rulers, retiring to private live, must share in common with others, the effects of their own official measures. It is a glorious guarantee for their good conduct. How interesting also, is the account which gov. Plumer gives of his stewardship! New York. The N. Y. Gazette says

Sea serpent. The eastern papers contain sundry affidavits of persons about the appearance of an animal such as that which was reported to have been seen last summer off Gloucester, &c.

A Hebrew Bible, supposed to be written in the 5th century, and of a long time deposited in the liSaturday, brary at Constantinople, beautifully written on velto use the cant phrase, was a heavy day. We un-lum, has been conveyed to London. After the fall derstand that notes to the amount of half a million of dollars were paid at our banks. These notes were giren at Hone's great India sale, and it was supposed that many of them would lie over. Considering the pressure of the times, it is a circumstance highly gratifying to know that such a sum was paid.

of the Grecian empire, it was kept at Vienna, until the French entered that capital, from whence it was carried to Paris and sold to Mr. Watson, the proprietor. The learned esteemed it as a unique and highly valuable.

Louisiana stock. The secretary of the treasury of the United States, has given notice that on the 21st Oct. next, a further payment on the remaining unre deemed moiety, of the Louisiana stock, at the rate of 54 per cent. will be paid.

Missouri. The right or policy of congress to refuse the admission of slaves into this territory, is warmly discussed in the St. Louis papers. A writer who signs "Hampden!" is is favor of their admission. Massachusetts state prison. By a late report of the Servile imitations. The fashions and customs of directors of this institution, it appears that there are the great in Europe are speedily transplanted to this now in prison, 366 convicts, of which 90 are stone country, and are much sooner naturalized than the hammerers, 49 weavers, 35 shoemakers, 15 screw-law permits in the case of making a foreigner a citiIn New York we find it now customary for makers, 48 common workmen and oakum-pickers, zen. 14 brush makers, 11 tailors, besides brass-founders gentlemen to give notice in the newspaper, that they smiths, coopers, cabinet-makers, nailers, coblers, will be at home to receive the visits of their friends barbers, tin workers, carpenters, &c. and 23 in the at a particular time. hospital. There are 4 in solitary confinement under sentence of court, and fourteen for misdemeanor in prison.

Another custom among those of the most exalted fashion in Europe, is not yet introduced, and we be. lieve is but little known here. It will be best ex

The report adds-"The amount of labor produced by the prisoners for the year ending Sept. 30-was $41,000; by far the most productive species of which is hammering of stones. By this mode of employment each man earns on an av rage between 73 and 74 cts. per day. The produce of the la-fille. bour of the weavers is applied chiefly to clothing La Mère et l'enfant se portent bien."

plained by stating, that the following is copied from an original card sent by a gentleman in Europe to his friends on an interesting occasion.

the prisoners.

"Monsieur, a l'honneur de vous faire part, que Madame--est hereusement accouchée d'une

Fed. Gaz. Boston, June 11.-A few days since, at Sandy Bay, Saratoga Springs. The visitants of these cele-Cape Ann, the tide rose ten feet in a few moments, brated springs, whose names were recorded in the and as suddenly ebbed. In the rapidity of the ebb books of last year, amounted to 4,213. a boat was overset, and the persons in her were drowned. An important spring on Mr. Trask's lan, then became dry, and has continued so. Many of the inhabitants of the vicinity think there was an earthquake.

Niagara falls. Some time ago it was stated, that Mr. Porter, of Black Rock, was building a bridge from the main, to Goat Island. This stupendous undertaking is now completed, and safe and conve

L

NEW SERIES. No. 18-VOL. IV.] BALTIMORE, JUNE 26, 1819. [No. 18-Vol. XVI. WHOLE No. 408

THE PAST-THE PRESENT FOR THE FUTURE.

PRINTED AND PUBLISHED BY H. NILES, AT $5 PER ANNUM, PAYABLE IN ADVANCE.

The monopolization of so many pages of the by means long since exposed in the REGISTER, that present sheet, to dispose of the ninth number of the they put up or put down whomsoever they would. address of the Philadelphia society for the promo- Paper did the business for them; and soaring, in tion of national industry, has caused us reluctantly the air, they looked upon the little world beto postpone an article of our own fabrication, on the neath, with contempt-for more wise, in their owIL receipt of a very handsome compliment of Bos-conceit, than Archimedes, they thought they had ton manufacture, until next week; for it is of consi-secured "a place to stand upon" to move it. With derable length, and we may have too much, even many of them it was aut Casar aut nullus-a baron on a good subject, at a time. or a beggar, on the cast of a die. Barons they Indeed, we regret that we have published this thought they were, and beggars they are, if they number of the address at all, having long ago insert. pay their debts like honest men. But we have od Mr. Hamilton's report in the RGISTER, of which laughed enough at their pompous notions; the proud it is almost wholly made up. The 10th number men who assumed a sort of right to regulate every bas reached us, and is in like manner composed of man's pecuniary affairs, have given up their own to what we have already printed, and will be noticed be managed by assignees-they have perished;only en passant. If the address is much further ex- and some, to the loss of the money they had, have tended, we shall be compelled to retire from the de- superadded the loss of reputation, and the people sign of giving the whole series of numbers, by the are ready to say to them and others who, in the local rightful attention due to other subjects, however im- banks, have played similar games of hazard or of portant the object before us may be, and though in fraud-our zeal to promote national industry we will not yield to any one.

"The guilt of conscience take thon for thy labor; "With Cain go wander through the shades of night, "And never show thy head in day or light." «Venerate the plough." A weekly paper, called Others however, deserve all our tenderness; for the PLOUGH Box," by "Henry Homespun, Jun." of they themselves were grossly deceived and abomiwhich Soloman Southwick, esq. post master, at Al-nably abused by those they confided in. Their own bany, is presumed to be the editor, has recently ap- good conscience, we trust, will support them peared in that city. Its plan is nearly the same as through the trials of adversity; for they did not forthat of the "American Farmer," published by Mr. get themselves when supposed prosperity surroundSkinner, in Baltimore; and so far as we have seen of ed them. it, it appears to deserve success, and we hope will receive it. There is room enough in the U. States for at least two or three works of this kind; and we are much pleased to see that science and talents, are so widely extending their aid to support the honest industry of a free American husbandman. May he prosper-so that though corruption riots in our cities, and the souls of men resident therein are prostrate before the shrine of avarice, yielded up to pride or sunk by adversity-the noblest of men, the great majority of the people of this nation, may possess a happy independence to guard the liberties of their country, and see that the republic suffers no detriment. Our dependence is upon

these.

When the bank of the United States started, discounts were granted to almost all that asked for them-1,000,000 to one, 500,000 to another, and so on, by hundreds of thousands, until the amount came down to the one and two thousands which sober and productive people were enticed to borrow. Why, very boys had their twenty's, thirty's and fifty thou sands! Bank bills could not be signed fast enough; and congress was bored to permit the bank to employ about twenty men for the purpose-they could not, without some such relief, fill up the demand for their currency!-they wanted nothing but the means through signing of notes, to give the people a wholesome medium! But in the hey-day of the times, the bank seems to have forgotten it was possible that payment might be demanded for these notes!-and when they began to come in, there was a necessity of diminishing the amount of their discounts. The small accommodations, by ten times the safest and most profitable of any which the bank It is known to every one that to effect an equali-bad, were first remorselessly thrown out, to the ruin zation of exchange, and relieve a swindled people of many good men and great distress of others. of a currency of uncertain value-to furnish them with a paper medium to be well known to all, and negociable every where without loss;-in short to protect them against gal and illegal counterters of money, that the bank of the United States was established. It never could have been incorporated but for the firm belief that it would accomplish all these things.

Equalization of Exchange!

"Bell, book and candle shall not drive me back,
When gold and silver becks me to come on."
Shakspeare's King John.

Still they accommodated themselves, that they might dispose of their stock at high prices, and not compel its exposure in the market, to lift the famous stock notes, &c. A real anecdote that occurred at this time may elucidate the thien prevailing policy of the bank-managers: a notorious speculator, having slipped himself out of his stock when it was at its highest price, was asked, why he did not retain some of is shares in the belief that they would be higher? "Higher!" said he, with a lock of amaze

The moment that the act for it was obtained, the secre premeditations of its great friends began to oncrate, to build up princely fortunes for themselves, at the cost of the widow and the orphan, and *We have heard some veritable accounts of such all other honest persons who submitted the manage-accommodations as put decency "under hatches." inent of their money to them, by subscribing for the It is understood as a fact, that ten houses in Baltistock. They effected such monopoly of the shares, more had five milkens of dollars on discount. Vo. XVI-20..