That instant they'd pay! O demand they'd throw The gloom of our woods would be dark, heaven down The branch paper so lov'd or the gold so ador'd, While the eagle, the dollar and old Spanish crown, Would jingle in concert and shine on the board. IV. But their glory is gone! ev'ry dog has his day- songs; Not e'en in the hour when my heart is most gay, Will I rease to remember their notes and their wrongs. The stranger in passing each village shall say, (As he eyes the sad spot, with his hand on his THEBE ONCE STOOD A BANK! but unable to pay, From the Same. PARODY. (Oh! think not my spirits are always as light, &c.) No. 2. Oh! think not the banks will be always as poor, now; knows, If there was not a bank here & there to be spied, Too often, alas! are a little deranged, That the sun shine of gold they may see once again, Facility of banking operations in London.-The following extract from the Quarterly Review is calculated to give a striking idea of the vast quantity of business done daily in London, and of the facility with which it is done by means of bank paper. The reviewer, in noticing the work of Colquhoun on wealth, power, &c. remarks:-"The next subject which engages the attention of Mr. Nor expect that each future demand at their door, Colquhoun, in his endeavors to trace the wealth of Will met with so cold, or so churlish a brow. of nations through all its ramifications, is the busiNo, the wars with the patriots must sooner or later ness of the banker, through the intervention of Be brought to a close-and then the bright ore, whom a certain quantity of circulating medium is The banks with both hands in profusion will scatter, made to perform the functions of ten, fif y, or a And “current," "uncurrent," be heard of no more. hundred times it value; and the use of the preci So send round the bowl, let's be merry with hope, ous metals, and what is of far more importance in (May we never do worse in our pilgrimage here) mercantile transactions, time are greatly economis Let us never despair till they quite shut up shop, ed. Millions of money may be paid and received Nor then, ever then dream of a tear. with a degree of facility and security which specie The thread of our faith would be weak, heaven could never perform. Mr. Co quhoun states, that knows, the money paid and received daily, in the metroIf no end to the banks, or their due bills appear'd, polis, amounts, on an average, to five millions, ster And I care not how soon they may sink to repose, ling, or one thousand five hundred and fifty mil. When the sound of a dollar shall cease to be lions in a year, through the medium of bankers heard. only. To count five millions of guineas, at the rate of a guinea every second, and to work twelve hours a day, would employ one person nearly four months, or 120 persons a whole day, or occupy two clerks in every banking house in London. Even they who have lov'd them the fondest, the purest, Now stare at the bubbles they've rais'd and lieved. be. "OH! THINK NOT MY SPIRITS," &c. That seldom the vaults of a bank can retain; But all the specie in the world would not suffice in the present state of the commerce of the country, to carry it on without a large circulation of bank notes, aided by the drafts or checks of private bankers. By discounting bills of exchange, which otherwise would not be convertible to mercantile purposes, for weeks or months, they accommodate the trader and accelerate business. And such is the facility with which the immense circulation of the checks or drafts given by the bankers, and the notes that pass through their hands, is settled among thmeselves, that by a clerk from cach bank. ing house, meeting at a particular spo: which they call the "Clearing house," at a fixed hour, millions are paid and received in the course of an hour by an exchange of checks, and the balances are finally settled by a general assemblage of the collecting clerks of the respectives bankers." Paper Wealth. The following article from Walker's Hibernian Magazine, for September, 1799, has been presented by a friend. It shews the opinions of some at that time of the nature of paper money. "In proportion as the minds of men become debauched and enervated, they are open to delusion *Vide the report of our learned committee on of every kind. Human nature perhaps could never the causes of the present suspension. Or the UNCHARTER'D NOTE that can banish a tear. form a greater contrast than between the old Ro man republic, and the modern dealers in beads and catgut, who disgrace the same ground. it being refused, he applied to the bank to get in When a nation could be so far guiled by a priesthood, as to believe a wafer to be, not only the true sign of the human body, but the body itself actual ly existing in many different places at the same time, they became bankrupt in understanding: their juggling leaders had drawn upon them for the last inite of reason and common sense; and transubstantiation remained in all the Catholic states, a badge. of spiritual tyranny on one hand, and slavery on "By virtue of sundry executions to me directed, the other, which infinitely surpassed all the fable, there will be sold in the borough of Washington, superstition and imposture of Pagan Rome. on the 24th day of this instant, one hundred dollars Luckily, we have shaken off this creed, and in-bank paper, on the Bank of Washington, given up deed most other religious creeds and prejudices. to be sold on execution by Alexander Creighton, at It is enough for us to swallow the political transub-the suit of Robert Hamilton, and to be sold by me. stantiation of civil property: And yet our infatuation seems to fall little short of the Roman Catho March 19, 1819." lics, when we can really believe the wealth and "IN" and "FOR" The establishment of a new. power of a nation to be truly and substantially country bank (in Penn.) for Kentucky, was lately exprest and represented by scraps of paper; which announced by posting bills, to the following effect: are so far from being property, or the true signs of "A new bank will be opened in a few days." property, that they signify nothing truly, but im Some wags were at the pains of altering the word posture on one hand, and credulity on the other;"in" to "for." The proprietors taking the hint, and may be annihilated by the most trifling cir-the bank was not opened." cumstance. JOHN KELLY, Constable. GOOD TOAST. Among the many appropriate toasts But while we ridicule the mysteries of faith, we at the late cattle show at Brighton, we are request. have an implicit confidence in the bubbles of state; ed to insert the following, given by Benjamin Aus and yet 'tis difficult to discover a greater absurdity tin, esq. [Pittsfield San. in supposing one man to eat his God, than another "May the citizens estimate the bounties of heato carry about him, a thousand acres of land, or to ven, by cultivating the soil, and learn, from expe put a great house or equipage into his pocket-book,rience, that national prosperity depends more on the which is nevertheless done amongst us every day, permanent basis of AGRICULTURE and MANUFAC with the greatest self complacence and security.-TURES, than on the fallacious bubbles of BANKING And, although we should be ready to laugh at the INSTITUTIONS." sly priest, who, putting the wafer into our mouths, cries, hoc est corpus, yet we have no suspicion of the state juggler, who, putting some flim-y bits of paper into our hands, tells us one is a freehold estate, a second a manor, a third a town-house, and a fourth a pipe of wine. Paper money-a legal Tender! We inser the following to shew the people of the United States the least of the evils to be expected from a paper currency-a legal tender of rags, so much desired by some. No comments of ours are at this moment required. FROM THE PHILADELPHIA UNION. This gross bubble, practised every hour, even upon the infidelity of avarice itself, rather exceeds than falls short of the spiritual one; because the objects it converses with are sensible and more Increase of forgeries in England, since paper was open to detection. So that when we see a wise made a legal tender.-"The recent investigations people, embracing phantoms for realities, and run-of this subject has brought to light some curious ning mad, as it were, in schemes of refinement, testimony; and, though it was wrung with dif taste, pleasures, wealth and power, by the sole aid ficulty from the hands of the bank directors, the of this civil hocus pocus, when we contemplate pa necessity of finding a remedy compelled them, at per gold, and paper land, paper armies and reve- last, to disclose the extent of the evil. It ap nuest a piper government and a paper legislature; pears, that, from 1783 to 1797, there were only we are apt to regard the Fairy Tales, the Travels four persons prosecuted for forging or possessing of Gulliver, and the Arabian Nights' Entertain- forged notes of the bank; three of whom were ments, as grave relations, and historical facts. In capitally convicted. In the latter year, parliament truth, we live in a mere enchanted island, and an passed the two laws, which authorised the bank individual may almost doubt, from the strong pro- to suspend payment in specie and to issue notes Density there is now towards paper, whether he under five pounds; at once permitting the bank to himself is made of any better materials. We must send forth notes of the old denomination, without have carried the paper manufactory to a great the slightest restrait, and inviting it to pour out Jength indeed, when our very houses are not only floods of a less denomination, and of more com Jined, but built with paper. We have heard of the mon use. The consequence was, that the tempta Golden, Silver, and Iron ages of the poets; the pre-tions and the chances of forgery were carried be. sent, to mark its frivolity, may be called the Paper yond calculation; and it is stated, in an official Age. Y. return, that, from 1797 to 1818, nine hundred and CONSTABLE'S SALE From the Philadelphia Centine? ninety eight (within two of a thousand persons were of April 6, 1819-The following singular adver-prosecuted for this offence; 313 of whom were tisement is copied from the "Reporter," a paper capitally convicted, 521 convicted of having forged published at Washington, Pa. In a note appended notes in their possession; and the rest acquitted! to the advertisement, it is stated that "Mr. Creigh. For the eight years preceding 1797, there was not ton, the defendant, is an industrious mechanic, and had collected in Washington paper, the amount of what he owed to the plaintiff, under the expecta, tion or assurance that it would be received. On a single prosecution-for the eight years subsequent, there were more than four hundred! In 1817, there were stopped, at the bank, 30,000 forged notes of one and two pounds;-900, of fire pounds;-50 of ten;--and two of twenty. The London papers, but he has been dealt with most greater part of the mischief appears to arise from severely by "the Black Dvarf." the small bills; but the permission to issue ad libitum must unquestionably have its share in shedding the blood of so many human beings." FROM THE DEMOCRATIC PRESS. but [From a London Sunday pater,] May it please your royal hig Ds. We, unhappy men, John Driscol, William Welle, and George We have had frequent occasion to call public Cashman, three convicts now under sentence of attention to late proceedings in England, relative death, (being convicted upon indictments charging to counterfeit bank notes. It will be recollected us with purposing to defraud the governor and that several persons have lately been acquitted in company of the bank of England, and ordered for London on charges of forgery brought against them execution on Tuesday next, the 15th instant,) apby the bank of England. The avowed ground of proach your throne in all the boldness of despair, acquittal was, that the bank did not produce the and the callousness of reckless misery. We ask best evidence to prove the forgeries, but that instead not mercy from your royal highness-we merit of producing the persons who had signed and filled none We appeal to the highest attribute of your' up the notes to swear to the forgeries, other per father's throne, Justice-Yes, royal sir, justice, sons, called bank note inspectors, were called, and which God metes with a common measure to all one of those persons who had been in that employ-human kind. We have no advocate, royal sir, ment for upwards of 20 years, acknowledged that the justice of our case we have no intercessor on a former trial he had been mistaken, and had but insulted humanity. Punish us, sire; but by sworn that a note was forged, when in fact and in all the pangs of parting life, tear us. We dare to truth, the note was a genuine note. From a late tell your royal highness and call the nation as London publication we learn that every clerk in the witnesses, that we have been convicted upon indietbank of England, who pays or receives bank notes, meats, whose very basis is error. We have been has attached to him an inspector of notes, and prosecuted at the suit, and convicted at the exthere is posted up at their desk a description of pense, of a self constituted public accuser-the the dates, letters, and private marks of the bank, public company called the bank of England. We and that notwithstanding all this assistance they were charged in the indictment with intent to dedo sometimes take forged notes. These things have fraud the governor and company of the bank of awakened the attention of the British public and England. parliament, and means are taking to prevent such I a court of law that, in its constitution, sees a direful state of affairs. We had not contemplated your royal father present at its judgments, it has saying thus much when we took up our pen to call been decided recently, and subsequently to our public attention to the following powerful appeal trials, that this charge is fondamentally wrong, and for mercy, addressed to the prince regent, by three grounded in error and misconception. We were miserable wretches who were under sentence of convicted on this false indictment We are ordered death, for having passed counterfeit bank notes. to suffer death on this false charge on Tuesday The petition is eloquent, and its prayer was sup-next. Know, royal sir, that this public company, ported by many thousand petitioners, but all was called the bank of England, arrogating to itself a in vain; not only were the three men executed, but their petition never even reached its destination. Lord Sidmouth, as secretary of state for the home de partment, undertook to dispense with the form of even delivering the petition, and for so doing has been severely but justly reprimanded in many of the 'We add the following to shew the manner in which the most glorious privilege of the soveregn power, the exercise of mercy, is abused in England new and unauthorised power of commuting the punishment awarded by the laws, did, by their advocate, proffer to us the boon of life, on condition of our pleading guilty to their charge against us. We had greater trust in the law than in their promised mercy-but lo-we were fatally doceived -their advocate spoke. For us the law was silent. But, royal sir, the law does not always sleep-for on Saturday it awoke and spoke in thunders; its awful voice has rolled around to all the farthest ED. REG. shores; its echoes have beat in the ears of the "Richmond Park, 14th Dec. 1818, 8 o'clock countless millions beneath your world bound sway. "Sir-I have this moment received, by a special It re-echoes, sire. Know, royal sir, that a British messenger, your letter of this afternoon, containing jury, on that day, exercising their constitutional the petition of nine bankers of the town of Liver- and constituted rights, did discover the fatal error pool, to his royal highness the prince regent, pray--that error which had been our bane; and by them ing for a respite of the three unfortunate men who that truth was made manifest, which, not twelve are condemned to be executed to-morrow morning grave sages of the law, not a host of learned adat the Old Bailey, for the crime of uttering forged vocates, not ten long years of persecution, and bank notes. hundreds of sacrificed victims, ever made manifest before. A similar petition from another quarter has been transmitted to his royal highness by me since his royal highness has been at Brighton; and I have been honored by his royal highness, with authority to act in this matter in the mode most consonant to my own feelings and judgment. It would therefore be unnecessary (even if time permitted) to despatch the present petition to Brighton; and I am sorry to inform you, that I cannot perceive any grounds upon which I can, consistently with my sense of public duty, recommend the present convicts as fit objects of the royal mercy. I have the honor to be, sir, your most humble servant, The law spoke; and justice was done on that day, sir. Two individuals were absolved. The indictments against whom, laid and prosecuted by the bank, were, verbatim, to the same import as the indictment on which we have been convicted and condemned to suffer death. By the irretrievable stroke that severs life-by the blood which no human power can again give warmth and motion to, we implore your royal highness to consider, that no later than last Monday, this public company, the bank, came down to the same court of justice, in which we were condemned, and, by their advocate, before the type of your father's presence, avowed, and loudly avowed, in fact and in deed, "that since a Britis jury had discovered that their (barks) indictments had been, and were, all grounded in error, they therefore declined further prosecution of persons charged with similar offences," for which, we un fortunates, having been tried in evil days and iron times, are to suffer. And may not we-even we, sire, forcibly and feeling applying such an argument to our unhappy case, cry out when we come to suffer, we are murdered by forms of law. of its debts, that would disgrace the most notori. ous rascal in society. BANK FORGERIES. "The following circumstances, have occurred in my own person, and being strongly illustrative of the necessity of alteration and amendment in bank notes, as well as conclusive of the consciousness of fallibility on the part of the bank in distinguishing between genuine and forged notes, I cannot omit mentioning them here. The said bank, by their advocate, arrogating the right and using the discretion then allowed by the administration of the law, did decline the further prosecution of many individuals, under charges of "Having found some difficulty in passing a one forgery, with intent to defraud the said bank; and, pound note, which was somewhat torn, though by by their advocate declining to call any more wit- no means defaced or obscured, I took it to the nesses, the said individuals, so accused, were ac-bank to get it exchanged. Not only the note, but quitted and set at large. myself, were conned over in a manner not very These are facts, royal sir: their comment is the agreeable in a public office. After considerable cry of the nation. A public journal of wide circula. delay, and examination by several clerks, and their tion and influence, the Courier of last night, echoing several inspectors, I was desired to take it to the this cry, dares to assert, "That if the jury were, "one and two pound note office." We there underin this memorable instance, right as to their deci- went a further scrutiny by two clerks, who appear. sion, on interpreting this indictment and the lawed somewhat embarrassed as to their proceeding. of the land, then the hundreds who have suffered I was informed "it would not be examined imon such similar indictments, have been murdered mediately and would take sometime," and asked by form of law." if I was in a hurry? I enquired if it was a good or a bad note?-Some unimportant observations were made touching the date, which was alleged to be rather obscured. I observed I had nothing to do with that, or what might be necessary after That the jury on Saturday were "right," is I was gone. The clerk said that something more echoed by the nation. Their decision has been was necessary-that he must examine "if that num acquiesced in by judges on the bench, and its au-ber was written off." I again added, I had no right thority as law: their decision has been submitted to be delayed on such ground; the only question in which I was concerned, being-was it a good to by subsequent practice. Royal sire-We miserable victims, are but dust; or a bad note? It was however in vain. I then but the immutable principles of justice, on which begged he would do what was needful, observing stands your royal father's throne, must never be time; he politely apologized, but said it was neces that it had already engaged me a considerable violated with impunity, even in our own persons, despicable and degraded as we are. Before the sary. He returned in ten minutes, having written thread is cut, which none can rejoin, we implore desiring me to take it to the person, who had sent on the note "6th May, 1816," and his initials, your royal highness by the manes of the victims to wrong-by all that is sacred among men, and me there, and he would exchange it. I did so, and (what is more sacred than the justice of your fa- was again examined and delayed, and even rether's throne?) by that justice-by the pious hand quired to write my name and address on the note. that closed your parted blessed mother's eye-by another, until I had passed the ordeal of four Finally, after having been sent from one clerk to every other tender tie! and what is more dear than clerks, with their four assistants, I received a new your people's love? for sure, sire, in our country-note in exchange. The whole occupied thirty-five pardon our gushing tears-yes, O yes, sire it is our minutes by the bank clock. dear country-in our country, sire, your throne must rest on love. By that love, we implore the common measure of justice which God metes to all. Punish us, sire, but not in error or anger. May the God that guards thrones, and makes life sweet to the worm, inspire your royal highness to act his will. Your royal highness, we are your offending ser. vants, JOHN DRISCOL, Condemned Cells, Newgate, Friday evening, The note, here alluded to, being an old note, the following, however, even this plea was taken some justification might perhaps be urged. In away: a ten pound note for small ones, with the view of "Some days after, being desirous of exchanging being secured at least in this case from forgeries, I stepped into the bank, conceiving it would be but a moment's affair, the note being quite new.One clerk (cashier) received it, examined it by a table, which hung up at his side and which appear. ed to be a list of numbers with corresponding dates, or perhaps a list of ascertained forgeries. At all events, an appeal was made to this table. This To his royal highness George prince regent. clerk tore off the signature, and handed it to his [When the men alluded to in the preceding let-inspector, who, also examined it, and having decidter were executed the people cried out MURDER; and ed in his own mind on its genuineness, wrote his we almost regret they did not commit it on a initials, in red ink, across the note. It was then worthless regent and relentless lord.] returned, and I was desired to go lower down. There I waited a considerable time, as it is necesThe following statement, abstracted from a pam-sary to "claim," as the phrase is, that is, call out phlet published by Mr. C. M. Williams, of Lon-ones turn to be served. I was here requested to don, either shews the extreme difficulty that endorse my name and address: this was really too exists to distinguish the real from the counterfeit much; the note was new; I observed that it was sotes, or exhibits a degree of meanness in the payable to bearer. I declined-I was not positive "great bank of England" to evade the payment as to the person from whom I had received it. I "Two observations may here be added: First, that the bank is not justified in insisting on the signature on an instrument payable to bearer; and that they feel that they are fallible, although this clerk was offended because I acted on a recognised case of his own fallibility. "Oh! reform it altoge ther." C. W. W. gave my name but did not wish to be responsiblef the great inconvenience and delay sustained by the beyond the possession. The clerk was somewhat public. offended and observed that if the note was my own, why should I refuse to put my name on it? asked if he would undertake to come on me, should the note turn out forged hereafter? He said that was impossible. The inspector had said it was genuine, did I not see he had marked it? I observed it might be forged as in the case of Mr. Hammond. He expressed his ignorance of that case and treated the matter as false. I retired and went to Mr. Ham mond, in Bishopsgate-st. Mr. Hammond thought 1 might have put my name on it, as their only object was to prevent fraud. I asked was it true, as he bad stated, that the clerk and inspector had endeavored to recover the value of the ten pound forgery taken from him, even asserting that the former would lose his situation if it were not re-ple of Great Britain, that several persons charged paid? Mr. Hammond said yes, but that he was not so absurd as to pay it, and never did. Prosecutions for Forgery, IN ENGLAND. The Democratic Press, when publishing some ac count of the trials, &c. given below, introduced them by the following observations: The alarming fact, to the government and peo with having passed counterfeit notes of the bank of England, knowing them to be counterfeit, were I returned to the bank, mentioned the fact, again acquitted by the several juries before whom they requested payment, on the specific ground, that I were tried in London, is generally known and has was not positive whether I had received the note excited much conversation. As a more detailed of my banker or not; and that it would save me the account of the trials cannot but be interesting, we to trouble of going to the west end of the town; or on day publish one. In another account we have read in an understanding not to re-demand if it proved a a London paper, Mr. Glover, who had been inspecforgery. "My good sir," said the clerk, "you are tor of notes to the bank of England for twenty-five giving yourself a great deal of unnecessary trouble." years, swore that on a former occasion, on the trial I begged to say, I was the best judge of the degree of a man charged with forgery, the inspector of of risk I chose to run. Finally, I was obliged to bank notes had sworn that a note was forged, when ascertain whether it had been actually received in fact the note was a genuine note. Upon this infrom my banker, and who, having made himself spector's testimony the man indicted was convicted responsible to me. I endorsed the note, and the and executed! The inspector, who, on his oath, following day it was exchanged at the bank. The mistook a genuine for a forged note, had been an delay and inconvenience was truly distressing. [inspector of bank notes to the bank of England for Many persons in the office exhibited dissatisfac. twenty years. When such a man as this, after 20 tion at the manner they were also inconvenienced. years experience, on his oath and the life of a felImpatience and irritation were indeed loudly ex-low being depending on his testimony, could be pressed by many. Let the reader who has not so far mistaken as to swear that a note was forged, experienced it, imagine what a tax upon time, what an expense even to the bank, what a gratuitous alienation of public feeling! Let the directors examine the department. Let them go incognito, and judge for themselves. which note, after the man was hanged for the forgery, was found to be genuine, how easy is it for the clerks of our banks to be mistaken. It will be borne in mind, that in Great Britain and Ireland, embracing a population of seventeen millions, there States, with a population of ten millions, there are are but three incorporated banks, while in the U. upwards of four hundred banks !!! From the London Statesman.. "Thus the simple exchange of a note, requiring the examination of so many clerks-the agency of so many inspectors-the scrutiny of another office -the appeal to the ledgers-the loss of so much time, and above all, the ultimate indecision on the part of the bank, and the taint remaining on the note to the embarrassment of the holder, who perhaps, in the interval, loses his security. These two cases, in the bank of Ireland, would not have sing a 1 note, purporting it to be genuine, with occupied the time one would take to walk across bank of England. He also stood charged with intent to defraud the governor and company of the the office.-There a man goes out of his way to bave put ing away ten of the said 17. notes; and another note exchanged, but here?account stated his having put away five of the said 17. notes in the county of Surry. Mr. Serjeant Bosanquet stated the case to the jury, and called the following witnesses: "In Ireland the bearer is requested to put his signature on notes above the value of twenty pounds, not as a right, but to save the public, in the event of loss or robbery. The precaution is well under- William Underwood deposed that he was enstood by the public, as being useful to them, and gaged by Sellers, a constable, Samuel Furzeman, complied with; but where a refusal is made, which and William Coats, to detect the prisoner at the sometimes occurs, and which may be even justifi bar in passing forged notes. Witness had become able on private and personal grounds, no observa-acquainted with the prisoner on the 28th of Oct. tion follows. last, and on the 7th of November, for the first time, "The above proves-first, the difficulty of as- he met the prisoner at the Coach and Horses, in certaining the genuineness of a note, even in the Drury Lane, when the prisoner was in company bank, and with the collateral aid of private marks with John Guy, whom he well knew, and who in-secondly, the necessity of the fallible test of atroduced him for the purpose of buying notes of duplicate number not having been already paid- the prisoner. He had been previously told by thirdly, the fact of a doubt still hanging on the Guy, that the prisoner would sell him some queer genuineness of a note, and the continued responsi-ones, meaning forged notes. He bought one, for bility, even after payment by the bank-fourthly, which he paid 7s. and a day or two afterwards |