the third entirely disabled; leaving upwards of 2000 of their men dead, dying, and wounded, on the field of battle. Colonel Raynor, who commanded the forlorn hope which stormed the American bastion on the right, as he was leading his men up, had the calf of his leg carried away by a cannon shot. Disabled as he was, he was the first to mount the parapet, and receive the American bayonet; 700 were killed on the field, 1400 hundred wounded, and 500 made prisoners, making a total on that day of twenty-six hundred. But six Americans were killed, and seven wounded."

On the 9th, General Lambert and Admiral Cochrane, with the surviving officers of the army, held a council of war, and determined to abandon the expedition. To withdraw the troops in the face of a victorious enemy, would have been difficult and hazardous. To withdraw in safety, every appearance of a renewal of the assault was kept up, till the night of the 18th, when the whole army moved off in one body, over a road which had been previously constructed through a miry slough, in which a number of the troops perished by sinking into the mire. On the 27th, the whole land and naval forces which remained of this disastrous expedition, found themselves on board of their ships, with their ranks thinned, their chiefs and many of their companions slain, their bodies emaciated by hunger, fatigue, and sickness.

119. Bank of the United States.

The Bank of the United States was established by an act of congress of April 10th, 1816, and continues to March 3d, 1836. Its stock consists of three hundred and fifty thousand shares, of one hundred dollars each, constituting a capital of thirty-five millions of dollars. Seventy thousand shares, or seven millions of the stock, was taken by the United States, and the remaining two hundred and eighty thousand shares, amounting to twenty-eight millions of dollars, by individuals, companies,

*Perkins.

&c. Of this twenty-eight millions of dollars, seven was required by the charter to be paid in gold or silver coin, and twenty-one millions in gold or silver coin, or funded debt of the United States. The property of the bank, including its whole capital, is not to exceed in value fifty-five millions of dollars.

The bank is located in Philadelphia, governed by twenty-five directors, chosen annually; five of whom, being stockholders, are appointed by the president of the United States, by and with the advice and consent of the senate; and twenty are annually elected at the bankinghouse, in Philadelphia, by the qualified stockholders of the capital, (other than the United States,) on the first Monday of January. No person can be a director in the bank of the United States at the same time that he is a director in any other bank. At the first meeting after their election, the directors choose a president. The president is selected from the directors.

The number of votes to which stockholders are entitled, are, for one share and not more than two, one vote; for every two shares above two, and not exceeding ten, one vote; for every four shares above ten, and not exceeding thirty, one vote; for every six shares above thirty, and not exceeding sixty, one vote; and for every ten shares above one hundred, one vote; but no person, co-partnership, or body politic, is entitled to more than thirty votes. No share or shares confer the right of voting, that shall not have been held three calendar months previous to the day of election. No stockholders, but those actually resident within the United States, can vote by proxy.

By the act of March 3d, 1819, it is provided that any person offering more than thirty votes, including those offered in his own right, and those offered by him as attorney, &c., the judges of the election are required to administer an oath to the person so offering more than thirty votes, to the following effect: That he has no interest, directly or indirectly, in the shares upon which he offers to vote as an attorney; and that the shares are, to the best of his knowledge and belief, truly, and in good faith, owned by the persons in whose name they stand at that

time." No person is allowed to vote as proxy, &c. without a power, witnessed with an oath, endorsed and filed in the bank, that the giver of the proxy is the real and only owner of the shares specified in the power of attorney; that he owns no other shares; that no other person has any interest in the said shares; and that no other power, now in force, has been given to any other person to vote at any election of directors of the said bank. Judges of elections permitting any person to give more than thirty votes at one election, without taking the oath prescribed by law, are subject to a fine not exceeding two thousand dollars, or to imprisonment not exceeding one year; and persons swearing falsely, are liable to the pains and penalties for the punishment of wilful and corrupt perjury.

Persons giving money, or any thing as a bribe, to procure the interest, &c., of the president or any director of the bank, or the president or director receiving such bribe, are for ever disqualified from holding any office of honour, trust, or profit, under the corporation, or under the United States.

Not more than three fourths of the directors elected by the stockholders, nor more than four fifths of those appointed by the United States, shall serve two successive years; no director shall hold his office more than three years out of four in succession; but the director who is President may serve without limitation.

None but a stockholder, resident citizen of the United States, shall be a director, nor shall be entitled to any emolument.

Seven directors may constitute a board, of whom the president shall always be one, unless unavoidably prevented, in which case his place may be supplied by any other director whom he, by writing under his hand, may depute for that purpose.

A number of stockholders not less than sixty, if proprietors of one thousand shares, have power to call a general meeting of the stockholders, giving ten weeks notice in two newspapers of the place where the bank is seated, and specifying the object of the meeting.

The cashier is required to give bond, with two or more sureties, in a sum not less than fifty thousand dollars, as a security for the faithful performance of his duties.

The lands, &c., lawful for the bank to hold, are only for its immediate accommodation in business, or mortgaged to it as security or satisfaction for debts previously contracted, or purchased at sales upon judgments for such debts.

The total amount of debts, of every description, which the bank shall at any time owe, must not exceed thirtyfive millions of dollars, unless authorized by law to exceed that amount. In case of excess, the directors under whose administration it takes place, are liable in their private capacities. This provision, however, does not exempt the property of the bank from being also liable. Directors who may dissent, or be absent, when such excess is created, on giving notice thereof to the president of the United States, and to the stockholders, are exonerated from such liability.

The bank is prohibited from dealing or trading in any thing, except bills of exchange, gold and silver bullion, or sales of goods pledged for money lent by the bank. It cannot become the purchaser of any public debt, nor take more than six per centum per annum for or upon its loans or discounts.

The bank cannot loan more than five hundred thousand dollars to the United States; or to any particular State an amount exceeding fifty thousand dollars; or to any foreign Prince or State, unless previously authorized by a law of the United States.

The stock is assignable and transferable, according to rules established by the bank.

Bills obligatory and of credit, under the seal of the bank, made to any person, are assignable by the endorsement of such person. But the bank is prohibited from making any bill obligatory, &c., under its seal, for a less sum than five thousand dollars. All bills issued by order of the bank, and signed by the president and cashier, are binding as if made by private persons. All bills or notes so issued, are payable on demand, except such as are for the payment of a sum not less than one hundred dollars,

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which may be made payable to order, at any time not exceeding sixty days from date.

Half-yearly dividends of the profits may be made. And once in three years the directors must lay before the stockholders an exact and particular statement of the situation of the bank.

The directors of the bank are authorized to establish offices of discount and deposit wheresoever they shall think fit, within the United States or the territories thereof. Or, instead of establishing such offices, it is lawful for the directors to employ any other bank or banks, to be first approved by the secretary of the treasury of the United States, to transact business other than discounting. Not more than thirteen, nor less than seven directors of every office of discount and deposit, shall be annually appointed by the directors of the bank, to serve for one year; each shall be a citizen of the United States, and a resident of the State or Territory where the office is established; not more than three fourths of those in office shall be appointed for the next succeeding year; and no director can hold his office more than three years out of four in succession; but the president may be always reappointed.

The secretary of the treasury of the United States must be furnished, as often as he may require, not exceed ing once a week, with full statements of the concerns of the bank, and he has a right to examine such of the books of the bank as relate to said statement.

No stockholder, unless he be a citizen of the United States, has a vote in the choice of directors.

No note can be issued of less amount than five dollars.

If the bank, or any person on its account, shall deal or trade in any respect contrary to its charter, every person concerned as agent or party therein, shall forfeit treble the value of the goods, &c., in which such dealing shall have been; one half thereof to the informer, the other to the United States; to be recovered in an action of law with costs of suit.

The bills of notes of the bank are receivable in all