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Payments made to the trea
NETAERLANDS. sury during the same pe
A Dutch paper mentions, that about 5,200,000lbs. riod
of wool is annually obtained in Ilolland; and that of Aggregate of expenditures and of mo.
this quantity, about 2,300,000lbs. is manufactured neys paid into the treasury for five
in that country. years, ending Jan. 1, 1819 3 ,436,740 19
It seems to be an accepted fact in England, that Leaving a balance in the general post.
“Alexander the deliverer" is resolved to depose the office on 1st day of January, 1819,
present king of Sweden-late marshal Bernadotte. of
$12,731 85 | It is said that he oifered him a Russian government The aggregate amount of net revenue, from the on the confines of Asia, with a revenue of 250,0001 origin of the establishment up to 1st January, 1818, sterling per annum, which Charles-Jean refused to as far as the same has been ascertained, after deduct, accept of. We have yet to hear what effect this ing the compensation to postmasters, cash paid for project of Alexander will have upon the rest of the the transportation of the mail, and all contingent legitimates," ! and incidental expenses, is estimated at $1,588,265;
EARBARY POWERS. theaggregate of payments into the trcasury amount- The plague rages extensively on the coast of Bar. ed, on the 1st day of January, 1819, to 81,181,728, bary. -400 persons per day are supposed to die ofi leaving S406,536, which constitutes a part of the at Fez; many at Teutan, Rabat, &c. outstanding debt before mentioned; the net revenue
HAITI. being stated from the quarterly returns of the post. A Haytian vessel, the first that ever entered the masters, and not from the balances actually received Baltic, arrived in the sound the latter end of April at the general post-office. The net revenue for the last, year 1818 is not ascertained, the quarterly returns
SOUTH AMERICA. of the postmasters not having yet been all received. A letter from an American, dated at Lima, March
9, informs us that lord Cochrane encourages deser
tions from neutral vessels--that four men belongForeign Articles.
ing to the Flying Fish, of Boston, having stolen one statistics OF EUROPE.
of her boats, and entered in his ship,-on applica. From & Paris paper. The present population tion being made to him for their restoration, his of Europe, amounts to 177,221,600 persons, scatter-| lordship even refused the captain of the Flying Fish ed over 154,450 geographic square miles. This the honor of appearing before hin, and would not population, considered in an ethnagraphic point of give up either. This is taking high ground. view, comprebends 53,195,000 Teutonians or Ger Accounts to the 3rd of May have been received mans, 60,586.400 descendants of the Romans, 45,120-1 from Buenos Ayres-we learn that a treaty or ar000 Sclavonians, 3,718,000 Caledonians, 3,499,500misiice had been concluded on the 16th April, be. Tartars and Bulgarians, 3,070,000 Maggarians, tween the government of Buenos Ayres and the 2,022,000 Greeks, 1,760,000 Finlanders, 1,610,000 agent : ppointed by the people of Santa Fee and ge. Cimminerians, 622,000 Basques, 313,600 Guistes,neral Artigas, the preliminaries to be settled on the 294,000 Arnauts, 131,600 Armenians, 88,000 Mal- | 10th May, which it was supposed would lead to a tese, &c. There are 1,179,500 Jews, 3,607,500 general peace between the provinces lately at variMahometans, and 172,432,500 Christians, of whom ance. The new constitution was printing and there are 98,229,000 Catholics, and 41,898,500 Pro. would be published in a few days. The acting die testants. Europe is divided politically into 78 86. rector had resigned, and it was supposed would be vereign states, nominally independent. Their ag - appointed a senator under the new constitution, gregate forces in peace, are 1,600,000; and on the Artigas and his friends are to have a sbare in the war establishment, 3,600,000. Their maritime force government. It was expected that a declaration of consists of 409 ships of the line-33 ships of 50 guns, war against Portugal would soon be made at Buenos 348 frigates, 1563 vessels of an inferior class. Ayres. A truce with the Mounteneros had been MORE CARVINGS.
eflected, and they were prepared to assist against The German papers are quoted by those of Paris the expected expedition from Spain. San Martin and London as asserting, that there is to be another was soon to be in the capital of Chili, to invigorate meeting of the allied sovereigns in the course of the the preparations against Peru. The vessels that present year, to be held at Carlesbad, in Bohemia; went from Valparaiso to Callao had been allowed and the result expected is great changes in the
to enter the port. The British frigate Andromache north.
sailed from thience on the 14th of February. The U. TIE BONAPARTES.
States frigate Macedonian left Valparaiso for CoNapoleon, is as usual, on the rock of St. Helena- quimbo, on the 3rd of April. sigulky," as the English say, because he will not! Mc Gregor has arrived at Port au Prince, where lick the hand that smites him, or suffer himself to be expected to receive further reinforcements and be exposed to impertinent curiosity. Joseph re-enibark on a new expedition! It is understood, that maius quiet in the United States, improving and ex- his men captured at Porto Bello, had not been put tendig his estate Louis has received permission to death, but were retained as prisoners of war. of the Austrian government to repair to Toplitz and bgra, in Hohemia, to use the waters of those pluces.
CHRONICLE. Jerome is at the court of his father in law. Mad. Dred-at Baltimore, on the 1st inst, maj. gen. Levin Murat is at Vienna, and Mad. Bacciochi had obtain- Winder, in the 630 year of his age, a soldier of the od liberty to reside at Baden.
revolution, late governor of Maryland, and recently MARIA LOUISA.
grand master of masons therein. He was an amiaIt is reported that the emperor of Austria, while ble and worthy man. His body was returned to the at Rome, solicited of the pope to annul the mar- dust from whence it.came, with masenic honors; riage of bis dit tighter, Maria Louisa and Napoleon, and a resolve passed that the members of the grand that sie might be at liberty to wed with the King of lodge wear crape on the leit arm for uiry days in Prussian
Troject to his heinol').
Hardy Miles, convicted of negro stealing in South ly as black walnuts or peach kernels. The great Carolina, has been pardoned by the governor. er part of those he planted are now growing, and
Yellow fever. It is reported that some cases of are found to measure, already, the height of four yellow fever have appeared in Philadelphia. We inches. His expectations of complete success are believe that almost every year there are more or founded on the fact, that a fine tree of this species, less cases in all our cities which partake so much eighteen years old, is now growing, in full vigor, on of the character of this awful disease, as hardly to Cumberland Island. That tree is a female, and pro. be distinguishable from it. We hope that such are duces a profusion of blossoms annually; but, having the circumstances at Philadelphia--and that the no associate, she produces no perfect fruit. disease, if it exists, will not spread. It rages dread. “Of the seeds of the Muscat date, the principal fully at the Havana-six hundred and eighty fo- part has vegetated, notwithstanding the stories pro. reigners died of it there, in six weeks, ending the pagated that the selfishness of the Arabs, or the inmiddle of last month!
clemency of the voyage, had, by some means, deCape. Symmes! The magistrates of Copenhagen, stroyed their vitality. On receiving the thankful it is said, "have received a letter from the North acknowledgments of these worthy citizens for my American visionary capt. Symmes, who will take a instrumentality in giving the Date Palm to Amerijourney into the interior of the earth, if he can ob. ca, I assured them that the praise and honor were tain assistance." A similar letter has been received due to capt, Henry Austin only." in many of the cities of Germany.
[To this may be added a fact, within the knowCotton -- It is stated that 208,900 bales of cotton ledge of the editors, that a plant five or six inches were exported from Bombay in the year 1818; of high has been produced in this city from the date which 158,900 went to England.
seed. When about that height, it was killed by ari Emigration. From considerable observation of attempt to transplant it.]-Nat. Int. the arrival of vessels from foreign ports, we are of STEAM POWER. Hartford, Con. June 29. Mr. Jenks, opinion, that the present rate of emigration to the of Colebrook, in this state, has invented, and actuUnited States is not less than four hundred persons ally put in operation, a steam boat, which is propel. per day. The greater part are English, reaching led without wheel, oar or paddle, or any kind of us via French ports, &c. the rest are chiefly Irish machinery, external or internal. and German.
1 The inventor has likewise, upon the same prin. Ontario. A letter from a traveller, dated Sack- ciple of re-action, put in operation a machine by ett's Harbor, June 6th, states that the United which a rotary motion is produced direct from the States vessels on lake Ontario, which were in ser boiler, at a trifling expense compared with that of vice during the late war, are fast going to decay. producing it from the common engine. The New Orleans, on the stocks, is enclosed in a NEW HAMPSHIRE MIliria, From the N. H. Parrio, building 230 feet in length, by 90 broad, and 90 From the return of the adjutant general, made on feet high, and is stated to be in a good state of pre- the 1st day of January last, we gather the following servation,
information of the state of the militia of our state: Illinois. The commissioners appointed for the Division and brigade staff.-3 divisions, 6 bripurpose, have fixed upon a site for the permanent gades, 3 major generals, 3 division inspectors, 3 di. seat of government of the state-it is in township vision quarter masters, 6 brigadier generals, 6 bri6 north, range one east, sections 8, 9, 16 and 17- gade majors and inspectors. they have called it Vandalia.
Infantry, grenadiers, light infantry, and riflemen. The Missouri. The steam boat Independence, the 38 regiments and the same number of colonels, lieufirst that ever ascendid the Missouri, arrived at the tenant colonels, majors, adjutants, sergeant majors, flourishing town of Franklin, on the 28th of May quarter master sergeants, 35 quarter masters and last, in 14 days from St. Louis.
35 pay masters, 37 surgeons, 38 surgeon's mates, Sales of public lands. A Charleston paper says- 345 companies, 338 captains, 336 lieutenants, 33 A letter from a gentleman in Mobile, gives the an. ensigns, 74 drum and fife majors, 1,265 sergeants, nexed items of intelligence relative to the value of 840 drummers, fifers and buglers, 19,715 privates landed property, population, &c. in some of our new -aggregate 22,276. southern territories.
· Cavalry.--33 captains and companies, 64 lieutenAt Cahaba, in May, lots sold from 500 to $5000; ants, 33 cornets, 132 sergents, 64 trumpetersmag. upland, average per acre, 15 to $35.
gregate 1,753. At Tombigbee, in April, river land per acre, 20 Artillery. 32 captains and companies, 63 lieutento 940–from the river, 15 to 35--choice river tracts, ants, 118 sergeants, 64 drummers and fifers, 862 pri80 to 90. Rise within two years, per centum, from vates-aggregate 1,139. 50 to 100.
Arms, Accoutrements, &c.—37,210 muskets, 57,177 Pensacola, since session, lots sold from 500 to 7000 bayonets, 16,550 cartridge boxes and belts, 16,152 dollars. Rise within one year, per centum, 500 to bayonet scabbards and belts, 11,952 brushes and 1000.
picks, 38,170 spare flints, 37,570 ball cartridges, Alabama, increase population last year, 35,000—111,000 losé balls, 13,200 pounds of powder, 13,200 supposed increase in 1819, 40,000.
Ipounds of rifle powder, 1,733 horseman's pistols, Probable revenue from the Alabama territory, 2,941'swords, 2941 sword scabbards and belts, 10,107 from lands, 1819, from 3 to 4,000,000 dollars. knapsacks, 9,285 canteens, 8,259 haversacks, 507
The Dase tree. A letter from Dr. Mitchell, dated drums, 570 fifes, 32 bugles or trumpets, 2 brass 4 on the 22d ult. says "[ congratulate you on the pounders, 32 brass 3 pounders, 15 iron 6 pounders, success of the effort to naturalize the date-bearing 2 iron 9 pounders, 2 iron 24 pounders, 4 iron 32 palm Phenix Dactylifera ) in the United States. pounders, 49 spongs and rammers, 50 ladles and Two gentlemen of South Carolina, one of whom was worms; 44 trail handspikes, 42 lead aprons, 62 ama planter near St. Marys, in Georgia, assured me, munition boxes, 22 tumbrils or powder carts, 33 a few evenings ago, that the great object was se setts harness, 3,006 round of shot and shells. cure. The seeds of the dates brought from Arabia No returns having been received from the second Felix, by capt. Henry Austin, and forwarded from brigade, that is not included in the foregoing calNew York to Mr, Sinclair, have regctated as readi. Iculation.
NEW SERTES. No. 21-Vol. IV.] BALTIMORE, JULY 17, 1819. [No. 21-Vol. XVI. WHOLE No. 411
THE PAST THE PRESENT FOR THE FUTURE.
PRINTED AND PUBLISHED BY H. NILES, AT #5 PER ANNUM, PAYABLE IN ADVANCE,
We respectfully invite attention to the 11th, ing, compared with some members and ex-member's number of the address of the Philadelphia society of incorporated coinpanies that I know of; and he for promoting domestic industry, commenced to. had the superior merit of being honest in motive and wards the close of this sheet and to be completed at harmless in conduct. the beginning of our next. It conveys a large mass ihe crimes against humanity and the most comindeed, of truly valuable matter. The society de- mon principles of honor, lionesty and law, commit. servesimmense credit for the light it has shed upon ted in the U. States during the last five or six years, the true interests of the United States.
make an aggregate large enough to bring whole nations to the gallows, if the amount were divideil
into hanging-proportions: by this, I mean to say, such Desultory Remarks.
is the vile principle of things almost every where, Privileged or Jers-incorporations-drones and leeches that it is the greatness of the villiany which ensures a maniac-crimes-hanging proportions-lito escape from punishment. The little scoundrel wbo
ile rogues and big ones-gearing off-disgruce- seizes upon a pair of slioes belonging to another, prodigality and bankruptcy--town houses and coun- to keep his feet from the frost in the winter season, try houses--morality of the paper system infamous goes to the penitentiary; but the big one, who plus tact-insolvent laws-debtors and creditors-robbe- ders the widow and the orphan, and robs labor of ries compared-ordinary and extraordinary times— hundreds of thousands of dollars, to set up a coach, the carrying trade-anecdote of a youthful yan. lav-in his stock of wines and clothe his wife and kee -- circulating medium-progress of luru: y and daughters with shawls at 500 or 1000 dollars a-piece, immorality-ears may be horne, if such please the is a gentleman!-he has only to go before the proper royal will-a embargo-restrictive laws-war-mo. officers appointed to grant him the benefit of the in. ney plenty, and the people mad-return of peace solvent laws, swear off, and live in future affluence -its effec18– revival of reason - a doubt whether upon the property of his wife or children-property rags were money -- bankrupt banks-discounts on which he himself recently gave unto them. bank note8-bank of the United States incorporated The cold-calculating dishonesty of many men in
-ids progress and effects - Patrick Henry- ero other places, as well as in much-abused Baltimore, * gamblings--the "beast," destroyed-blowing up of who lately held their heacis very high, and assunied a the «system"-management"-accommodations - first rank in society, is disgraceful to our countryabuses and remedy-Speculation Hall - truh lo come and their prodigality has been as unbounded as
to light-exceptions, explanations and exhorta-their means of supporting it were mean and unprine • trons-brokers_course of exchange"-payments in cipled. We have mentioned the case of one bank-coin-the policy to be pursued- kings and people- runt merchant living in a house so furnished as to fashion, dandies, and dog-8.
be worth $ 00,000---of another bankrupt whose It may be accepted as pretty good evidence of private stock of wines were worth 7000; and others the happiness of a people, that there is not any bave purchased land in the neighborhood of our privileged order, secular or ecclesiastical, among cities and improved it, so as to have cost them from them: yet these orders may virtually exist, though 100,000 to 300,000 dollars a-piece-and some, not the constitution knows nothing of them, and abroad/ worth a five-penny-bit, have built palaces in our ciattempt to establish any thing of the sort, might ties, and insulted the people by throwing open their subject the base scheemer to universal indignation, I doors, that the public - any body, miglit travel if not cost him his life. Such orders do exist in the through their rooms, and be aston shed at the taste United States by our acTS OF INCORPORATIOx, which and splendor with whici they were furnished! And wonderfully increase the number of drones and so it is, that these very fellow's who have reduced leeches, operating by a common principle of hy. pocricy and frauc, like government-priests and let Baltiniore lias been "much abused" by forty or reditary rulers, to avoirl a participation in the toilfly of her own citizens, as well as perseculed by necessary to produce that share of the articles of many persons in other places. It is to these it w, ulnecessity, or luxury, which their wants require or happily however, meu who took prominent plans appetites demand.
on public occasions, and who were jooked up to for There is no doubt but that acts of incorporation examples, that we stand indebted for all the siis iininay be properly and legitimately granted, rarely Iputed to us for wild speculation, sheer piracy and it however, to invest irresponsible associations with trafic in blood-the slave trade. Our people, in money-making powers so may a nan take a glass of general, are warm tenpered, and never do a!!y thing generous wine: but excess in the former affects the by halves; their heads sometines grievously art, social body after the manner that excess in the lar. when their heart is right: but they are generous ter destroys individuals. Every thing is seen dou-land hospitable, patriotic and brave, milled with 2 bler one house looks like two, and a dollar, in the spirit to accommodate and do kind offices for one eyes of the intoxicated, appears like many dollars. iother. Yet so it is, that less than fifty persins, When I have seen people drunken with ideal pros. (of diferent political sects, but who were estetireci perity, the result of their management," or reeling of the first rank in life) have so managd their with wine, in consequence of indulgence, I have natteis as to cause the reputation of the whole city, often been reminded of the story of a certain ma- to be severely impeachei-to give indiscreet and niac whe, having climbed to one of the lottiest peaks illiberal men the opportunity of heaping upon us of the Highlands, on the Hudson, bawled out-vat-l.. tlie vilest epithets known to the English 11*tention the universe! -by kingdoms to the right wheel, Iguage; charging 60,000 people with the sins of less march!" This poor fellow was quite a rational be-Ithan fifty, in the whole.
the morning widow and destitute orphan to wretch-manner in which the youthfiel vankee supercarga ec.swd want,-wholave glutied their appetites, , served himself, who adroitiy cut off a part of the as it were on the heart's blood of honest mdustry, guager's rod, previous to the measurement of some inay yet throw the dust from their carriage wheels liquor that he was about to purchase! The ease to blind those they have runed! It was was not so, with which any one, especially in the United States, a few years since--then, it a man failed in business, could embark in this trade, induced hundreds withexcept from some well-known and reasonable cause out capital, to go extensively into it, by the aid of for bankruptcy, he was regarded as he should be, paper. Thus-A.bought of B. 50,000 dollars worth and escluded froin all decent company: but now, of collce, which he shipped, and consigned to the thuiks to the moraliiy of the paper system, if a man agent of some house in London, at Hamburg, &c. In will only plunder to a surlicient extent, he is, if not virtue of this consignment, A. was authorized to corressed, at least tolerated, by the very persons draw upon the house in London for upwards of unat he robbed!! I know a poor mechanic who $33,000 (two thirds the amount of his shipment) humbly solicits an occasional loan of two or three which bills he sold, and at once became a person of hundred dollars for a few days, of a merchant who consequence! As the payment to B. became due; Owed him as many thousand-puid by a "whereas” a like operation was again bad, and so it went on issued by'those who asininister the laws respecting until A. was really worth money, if fortunate, or insolvencies.
compelled to wind up his affairs, by the loss of his We shall now proceed to make a few remarks credit. In all its ramifications, it is probable that upon the insolvent laws, with a view to some future the carrying trade circulated something which pas. essay or essays respecting them. We are decided-sed as money, or performed its mercantile purposes ly of opinion, that no man can be legally exonerated between man and man, to an amount of not less froin the payment of his just debts, except by the 150,000,000 of dollars a year, in the United States. act of his creditors. The unfortunate ought to be with this fictitious abundance of a circulating meallowed time and freedom of person, to retrieve dium, prodigality increased: take an instance it is their circuinstances; they should not be harrassed less than thirty years since the quality," the peo. at the discretion of an obdurate creditor, but re- ple who led the fashion, drank souchong tea, which quired to render an account of the siate of their our very negro gentlemen and ladies now consider business, to some high and honorable tribunal, atas not agreeing with their delicate stomachs! There fixed periods, who should decree such dividends of was a proportionate change in our habits in every the profits they had made, or adjudge such penalrespect, and among all classes. Society certainly tics for mal-conduct, as the laws might ordain. The advanced very rapidly to acquire the ornaments injuries to society are ten thousand times greater and luxuries of life; and our country was more exfroin dishonest debtors, than hard hearted credi- tensively improved, cultivated and embellished, tors,” though the latter make so many pretty sto- through the aid of the representatives of money ries in our novels and romances. It is commonly which the carrying trade created but at an enorthe positive interest of the creditor to deal lenient-mous expense of moral rectitude and republicat ly with his honest debtor, and such are generally virtue. Every reflecting man, forty years of age, encouraged and strengthened by those to whom will acknowledge the truth of these remarks, and they owe money, instead of being oppressed or in- it is not worth while to enlarge upon them. peded in their progress to obtain a livelihood and When our carrying trade was assailed by the Bri. provide for their families. It is only these that de- tish and French-our vessels captured on the high serve the protection of the law. The moral evil is seas by one, and seized in the ports of their desti. just as great, if I lost a thousand dollars by a man nation by the other, and things had arrived to that that I contidently trusted, and who gambled it away point which the hare apprehended, when he said, or spent it in any sort of prostitution, as if he had that whis majesty," the licn, might easily mistake robbed me of it upon the high-road. Nay, it is the his ears for horns, the royal beast having issued "an greater evil--because it sours my temper, and order in council" or an “imperial decree" against causes me to adopt more or less the dirty rule of horns--the wong embargo" was laid. Money at «dealing with every one as if he were a rogue." this time, appeared to be plenty in the U. StatesThe fact is—and it is known to every body, 'that in because great confidence existed, and vast internal ordinary times, where one honest and industrious improveinents were making, to give it a free circu. man.takes the benefit of our insolvent laws, there lation. Besides, it afforded a pretty reasonable exare at least twenty prodigal fools or infamous ras-cuse to our merchants and dealers for not paying cals who wpass through the mill." I say in ordinary their toreign debts; and thougii business in our sea. times, that the full force of my remarks may not l'ports, of course, was very dull, there was not much apply to the present, which are extraordinary, distress-the people easily falling into the habit of through the general effect of the state of trade, bearing and forbearing with one another, and of acand of the “paper system.”
commodating each other; and perhaps, we may venThe evils which just now afflict the people of the ture the assertion, that the United States were imUnited States from one extreme to the other, had proved quite as much during the period of this enn. their real origin in what are called the days of our bargo as in any other of the same length wlich we “commercial prosperity," when the carrying irade, seen. After raising the einbargo to gratify, as the as it is termed, took the place of a plain and honora- writer of this then thought and still thinks, a senseble commerce. This trade has been much pursued less clamor, sundry restrictive laws were passed, by the British and ourselves, without much regard which partially operated like the embargo, or causto moral justice or a sense of truth. Perjury ed large emissions of paper to represent money and and deceit were held fair, if successful-false oaths fill up the quantity required for circulation. War were made by beindreds in a day, and accepted by soon followed, and then the great disbursements th use who administered theni, as being "customa for government-purposes, &c. still kept money plenry.” False papers were as publicly trafficked in, ty, as it is called, in most parts of the union, until a and advertised in the London gazettes, as bales of litue while before all the banks south of the Hud. cloth or cotton. But the evils of these things have son, stopped specie payments. In anticipation as fullen heavily upon us and the Britisi-after the lit were, of this fatal event, or i...nediately upon the heel of it, any half a dozen persons who could people and injure those of its stockholders who get enough of the circulating medium to pay the had bona fide paid their money into it, with a string engraver and paper maker, felt authorized to erect of et ceteras long enough to fill a whole page; and a bank, and become lenders of money; and many that the apparent prosperity of those who had spen sets of them did so. “Then the people waxed mad culated in its stock, over-drawn on its funds, or bold. --those of the country were as crazy as those of ly put their hands into its vaults to take out just the towns-100, 150 and 200 dollars per acre were as much as they wanted, led others, thus having paid for farms, the whole produce of wbich at fair access to other banks, to do the like--so that the prices, if well cultivated, would not pay the interest whole tugether affords a melancholy proof of such on the purchase money, at six per cent, nothing a debasement of character ås no man in America being left to support the cultivators and their fami- ever expected to witness. In the mean time, while lies! Well, after a year or two more, the war ceas- these things were going on, the productive classes ed--still the excitement was kept up by the hope of were oppressed, their usual accoinmodations ruthdoing a large business, as theretofore, with foreign legsly denied, and all were called upon to "fall down countries; but the merchants, fariners and others and worship the beast" of management. But some who calculated thus, soon found themselves to be would not-they passed througin the fiery furnace, miserable deceived-the state of the world, as bear. "sthough sheated seven times more than it was wont ing upon our trade, having essentially changed: to be heated," without 'sa hair of their head being our old customers either rejected us, or were una singed,”--they discovered the “footsteps of the ble to pay us, as their carriers, and every thing priests,” fattening, with their wives and children, on began to flag except the demand for our cotton, the credulity of the people, and they blew up the and tobacco, and partially) flour.* The people beast, xying, behold the god that we were comsaw that trade was seeking its natural level--they inanded to worship! The paper system, by which looked about themselves, and severely enquired if we mean issues of promissory notes by banks or in. rags were money? The derangement of the cur-dividuals unsupported by capital, is drawing to its rency had been patiently borne, either because dur-end--and I trust, that those days in which a specii. ing the war it was hch to be patriotic that the banks Jator could get accommodations to the amount of a should not pay their debts, or on account of the fa- million when a productive man could not get a cent, cility with which paper money was obtained. But have passed away, never to return: Nor will the the case was altered: it was no longer thought pa- time very soon be again, when a directorship, cashtriotic that the banks only should have the privi-Siership oreven portership in a bank, may enable a perlege of being bankrupt, and yet of making enor- son to spend three times the amount of his incomc, monis dividends of profits, and as, by decreased ac- and get rich besides! But we are told, there are tivity in business, their notes circulated more slow-other clerks as well as bank clerks, who can clo this! ly, they seemed to have acquired a greater value, Yet, nevertheless, some such still maintain their and the losses upon exchanging them at different power to appropriate nearly the whole credit and places were considered as serious grievances. i funds of their institutions to their own purposes; Sundry projects were set on foot to remedy or and the bank of the United States aspires to the restrain the “paper system," until at last we had authority of setting a price upon every acre of land the bank of the United States incorporated. This in the republic. We shall see what the result will was to do every thing to restore the golden be-we venture to predict, that every local bank age, and strew the bighways with silver dollars; mismanaged as just above stated, and diverted from few thinking of the remark of Patrick Henry when its public offices to the aggrandizement and apport he said, “what, is it proposed then to reclaim the of a few, will fail; and that the sufferings of the coin. spend-thrift from his dissipation and folly, by filling munity will force upon congress the passage of an his pockets with the representatives of] money." act to reject the bills of the bank of the United This bank, it is trile, imported some specie by send States in the payment of duties, and cause a transa ing into foreign countries and selling them there, fer of the government deposits, all which may be the evidences of the public debt of the U. States, lawfully done* and must be done, if its present poli. which, in their redemption will cause a return of cy is pursued. Then might the stock be worth less the specie from whence it came, with interest and than sixty dollars per share, and the stately ed fice costs upon it; and its bills being receivable every building at Philadelphia, which is to cost a million, where on account of the revenues of government, be prepared to be fenced-in as it now stands, and they assumed, generally, a higher rank of value, shewn to strangers as the ruins of Specularion Hall.
gh intrinsically less valuable in many cases, Some parts of the preceding, as to the crimes of than those of the local banks. One great-per-banking, may appear too highly colored to those haps, we may call it a solitary good, resulted from who do not mingle much in society; but in fact, the establishment of this bank-it rendered specie language is wanting to give a full representation the test of value for bank notes, and which it held of the bare-faced things which have occurred in the on to, will soon relieve the people, by severe suffer- banks, and especially since the establishment of the ing indeed, of some of the most abominable gangs of bank of the United States. Before the 1st day of incorporated rogues that ever futtened on the sweat January next, we are bold to assert, that the people of industry, or cheated honest labor of the bread will say, we have not told or insinuated any thing which it earned. So far, the bank was well--but like the amount of the frauds committed by soul-less in regard to its own internal construction, it was IXCORPORATIONS. soon discovered that it had mightily increased the Before we dismiss this subject, however, we wislı amount of ideal money--that its stock, which was to say a few words more about incorporations for to have been composed of the precious metals and money-making purposes. They are beneficial, if national securities, was in a great degree paid by properly restrained as to numbers and rightfully promises to pay that it had introduceti a new sys. conducted; but the temptations that they present tem of gambling to demoralize and defraud the to all who manage them of making money easily, are
* We are sorry to have to remark, that the demand *See WEEKLY REGISTER, Vol. X. page 33; 14th for these articles has ceased,
and 16th sections of the act incorporating the bank.