ofa

NeaV Series NO. 17. VOL. V. LEXINGTON, K. FEIDA1 APRIL S3, iSHt. VOL. XXltl7rUULISUED ETEHT FIIIDAT 2I0RNI5C,

BY JOSHUA NO RYE LI. CO.

List LettersTJEMAINING in the Post Office Lexing.Jt ton, the lsttday of Aprib1819, which,is not taken out before the expiration of threemonths, will be sent the General Post Of-fice dead letters.

Armstrong AVilliamAllen DavisAllen JamesAtkinson HesterArmstrong Davis.Askins BerrymanAntrim WilliamAnderson ElizabethAdkins ThomasAlexander JohnAshurst Kobert

Berthelemy JacquisBerryman GilsonBruen JosephBrehm PhilipBradley TerryHeck MaryBoone WilliamBooth WilliamBoler JohnBrooks BenjaminBarnett MarquisUacon LiraonBledsoe Simeon ',Benniner PerkinsBoone SamuelBoner AVilliamBenlocte GraylieddowJohn B.BUckner ElizabethBuckner HenryBruff JamesBowler JohnT.Bedine IsaacBuford Abraham, Jr.Bush JohnBlack Alexander '

Bradley Ann

Carsone JamesCircuit JamesCatlett ReubenCrocket NcvvboldClarke George AV.

Cox John A.Carr DabneyCleveland GeorgeCooke B.Chamberlaine Cropper ThomasChile ConnerChambers MaxwellClair JacobCollins AViViam

Cunningham IsaacChristman Joseph ' .2Cannon Burton

MalchiaCooke Stephen,Clark EnochCassell AbrahamCosby Eliza,Clarke AVilliamCooke CatherineCasmon ZacheriahCampbell AlexanderCllOwning MildredCrockett RobertCahill WilliamCranmer JonathanCliinn Sarah-

Dudley AVilliamDishman JohnDill PhilemonDishmanDaraby George AV.

Duvall ThomasDudley RobqrtG, :

Downey RobertDavis Mary or Jame3Dunbar George T.Davenport A. iDesporte MonsieurCollins AVillisH.

EvansElmore JamesEastin Parthana- '

Elliott Mr.Elliott Benj. T. '

Ellis LittleburyEllison

FishbackSaml.D.' I

FieldingThomas J

FergusonFuller Amassa.Frazer RobertFord AVilliam --

Frost IchabodFerguson MaryFry MatildaFear AA'illiam

Ford Benj

Gardner NathanGregg Jarnes .

Giving ThpmasGray MosesGarnett LewisGiven Dixon-Gra-

George 2Gregory JohnGregory Peter.Graham ChristopherGarrison JamesGatewood Larkin 2Gibbcrt Saml. II.

Harris AV.or GradyHorn JohnHawkins Cleon R.HaydonJohnAV,Housel JacobHigbee PeterHodges QaldenHead JamesHiggins AVilliamHersman MatthiasHanley John

BenjaminHollcmbeck JacobHarris Thomas

Hull AVilliamHull Reubenn.ncelcy NancyHendron PatrickHanback WiUiamHarrison CynthianUurs Jaics

'" '' '"' ' ., ' .--. ,. -- -. IM'M , I.,. ll III MM ... 1.1.1. !. II' '

;"True to us charge lie comes, the Herald noisy world; Newsfrom all nations lamb'ting at his back!" ' 7jZ '

.

ofat

on

toas

J.

J.

E.

AAnderson HenryAcuff John

2 Averill FranklinAdams Thomas

ThomasCornelius AVilliam

Couchman

AVilliam

Samuel

William

Thomas

Thomas

Hartley

Anderson WilliamAshelcy Edward

2 Alleng ClaudiusArmstrong Sally

2 Ames SamuelAugheytus JohnAnderson Col.B

- Bidwell Chester 2Beeler AVilliam 2Iirownlee HughBloomfield Mr.Brewer JacobBowler SallyBoone GeorgeBurn,ett AndrewBarker DanielBaines WilliamBaxter James

2. Buell WilliamBuckley SamuelBowlin FanneyBullock ThomasBurger JohnBowlin AVilliamBaldwin RobertBloomfield G. B.Brown AVilliamBugan DanielBascom H. B.Bane MariaBowlware ElizabethBerry JaneBusbey James

CCrane Gerrard 4

Clark JohnCahill MaryCaldwell JohnChildres LindseyCompstock BrownChambers BobertChambers Thomas

2 Coons Henry

Conner HarrisonCrumbrough J 6hn

2 Calvin PelieCook AralentineChristian AndrewCampbell WilliamCurtis George B.Campbell JamesCoverdale JacobCampbell IsaapClark JamesCarson ElizaCofman DavidClark CatherineCarter RpbertChristian ThomasCJose HenryChristian JohnClemaon A. B.

DDuvall Sarah

! Dum,as Mildred 2Davis GarrardDavenport AVm.

Dickinson Thomas LDilvvorth ChristopherDenney JohnDarell 'PeterDaley WilliamDomerest SamuelDavis AVilliamDavis JohnDuncan AVm.

EEdward Mr.Erwin Jane

! Elliott JamesEdgars WilliamEdmonds JacibEavisJohn S.

3 Ferguson Geo. CFolej-EIija-h

3 FaulconerJoscphFisher ClementFauchierJohn J.Fielding JohnFeeney RobertFrothingham CharlesFovvler Samuel

2 Finley John2 I'jnch Edward 3

Fisher James 2

G.'Gardner Francis 3Gird EdwinGoodwin Joseph G.Grimes Charles B. 2Goen GilbertGrand AV. AV. 2Gray RichardGowans AValtcrGreenwood J.olm F.Gray JohnGulUiam ThomasGeorge John G.Grant David

H.W. Hainan Thomas

Hannah AVilliamHamilton JohnHoldcn Riclul. C. 2Hailey ElizabethHurst JohnHollembeack Harry C.Hunt ColleyHawkins MarkHarris-Rebec-

Ilopkinson MissHuston RobertHill JohnHarrison Sophia V.

How ell JamesHolsev JohnHolls Jacob

2 Harris Benjamin2 Hogan Lewis

Hammond Moulton2 Harrison AVilliwn

TTiTnr Jnn nr AliehflelHamel-Smit-

Harrison NedHollymanl'homasHarrison George AAr.

Hardesty DavidHammon Jessetlerson G. VintsowxHigbee JohnHunter JamesHedrick John '

Hubbard SylasHyndman James

Ingram IraJackson JohnJinkins LewisJones StrephenJaquess G.

Nelson C."Jeter ElenorJohnson Thomas P.Jones Jane

Kemple Adam ' rK'eegan PatrickKerr DavidKeene SusanKeiser AdamKeeman Thomas

Lorman JohnLong Arm.Loomis LukeLailxLSaml.

LeJDavid orJancLoweyJohnLancaster Robt.Lawson JohnLeauba Mr.Lincoln Chas. AV.

Leavill James

Millan Thomas Jr.Miller HenryMiller John B.Minter JamesMathcnv .lamps

fMiltemberger Geo.Martin RebeccaMegowan Joseph RMarshall BenjaminMornss DavidMarsback CharlesMoore JohnT.Meredith WilliamMoore B. B.Millar Mary R.Madeira JacobMuze DavidMaddox HenryMoore ThomasMarshall James L.Moore John P,Mehaffey Alexanderivioxiey sampson- -

Morrison JNathamelMorrison AVilliSm

M'Coyle MaryM'Qrosky Elijah

AV. S.M'Call James V.M'Kinney JohuM'Kane James ,

M'Donald SidnevM'Cutcheon W.'ll.M'Farlain JohnM'Kinsey James

'3

Nicholls FieldingNeal Charles ;

Ousley James

Palmateer AVm.Parks AlexanderPickett WilliamPhelpS CharlesParkins Henry ' '

Petty UansdalePalmer JanePearson Edmund B.Parker NorthParr Noah

LPreston JustusPatterson SamuelPrice SallyPresby OtisPollock William.Parry JacobPickett WilliamPleasauts Ann C. .

Paxson Joseph U.

Poindexttr AVilliam 2Pearce AVilliam"PuthufTjohn

QuarlesTnnstallQuick Isaac P.

Reed Jamos. .

Ruddle Ita'phRankin Saml.Reed ThomasRoot Mr.Robinson Mary AnnRucker AmbroseB.Rice DavidRowan JohnRaney AVilliamR ley Saml-- B.

Rollin Alex.Russell Stephen B.Rice JohnRoher Jacob jRobinson Mose3

Smith Will. 3Sinclair John 2Sparks E.Shock e John 3Stedman Thos. 2Smith Hanforcl 3Stewart Rohcrt . 2Shephard DickeyStringfcllow JohnSpilman SylvesterSteele SamuelSimmons SolomonSliawner MaryStivers ReubenStaton Arlhiu-Shear-s

AVilliam .

Sandford ElizabtedmanEbenezer1Stewart James .T

Simpson John 2stout-Thom- U.)Scular GeorgeScott AVilliamSwitzler SimeonSanders JuliusSavage and PrentissSmith JohnSclaignaX D. L.

22

Hannah WilliamHersman GeorgeIlathorn DavidHamilton JamesHicks AVm.Iloughlon ReubenHaney JohnHays ThomasUnlet NancyHardy PatrickHeran Capt.

Sc JJohnson SimpsonJones CatherineJohnson JohnJones JohnJones Frances-Jones- .

Nelson R.January NancyJohnson Riclid. M.

KKenney Moses

2 Kelar JohnKing V. F. 2Kelley Thomas O.Kill AndrewKiller FranceyL

Laird David3 Lamson John IT.

3 Lion and Lioness (theowner of)

Loffij.Geor(iLemon Andrew.Lighlner AVm.

2Linthicum Thos.Long Isaac

2 Logan Ant'.

Meeker Henry. 3, Myers Jacob

Milligan AVilliamManuel Thos. B.Mitchell Richard

2 Moore PleasantMarkrum JohnMahon Alex.Moorehead CatharineMeek JamesMetcalfElizaiefhC.Mahoon Movdicae .

Martin A'illiamMurphey JamesMelvin EbenezerMartin JohnMermoud GeorgeMeredith-- MaryMorgan SarahMurrell JamesMoore James

2 Mesjlone MaryJUasley JudaMiller Joel

MosesMc

MMeckin JamesM'CUjesin Andrew

2 M'lntlrje RaleighM'Farland SamuelM'Guire ElizabethM'Conathy. JacobM'DowelfSabraeM'Chesiiev Samnel'-- t

M'Robb Will. 2

M'llroy. "ThomasM'Call James

NNewman DavidNeal James

OOsborn Abijah

1J

Perkins EutaPatterson JohnPulliam .lamesPilcher BenjaminPrice Evans 2Patrick' CharlesPeay JohnPayne EdwardPrice, JosephParker Eliza dPetty Joseph

' Patter's n J osiah2 Parker Robert 34 Price Margaret

Pigg LewisPerry RebeccaPcerj Benjamin O.Patterson JarrffesPatterson John II.Pacre AVilliamPorter Ephraigm

QQuick Mr.

RRice David 3,Ray DavidRose Robert II.Ross S. S.Rutlierford J.Iteynolds JamesRoss WilliamRiley Joseph.Jleesc EdwinRobb JosephRandall Brice C.ltogers JamesRoberts John .

Roberts" WilliAm1Ray And. .. ,

Recruiting OfficerS

Sparks ThomasSippel Nathaniel SStephens ThomasScott John 5Spratswell JohnSimpson GreenStout JediahStewart JohnStribling Erasmus 2Sanders. I aniesSpearsJ. J. &. II. Chris- -

manShannon SusanSpiers SusanSlian lion. JohnSpem-c- JohnScruggs WilliamShipp DudleySmith I .p vvStout EzckielSmith Jesse F.Sinclair ChrisotpheriimitlifejimielSheldon AsaSmith Il.u-r.i- t

Swigalt JohnSmith EliasStephens William

Steele, Donelv Ec SteeleSorrell John

Stephenson Thos. J.Spanglcr MarySmith M.Seargeant AVill. L.Steele JamesSmith C.Switchler MichaelSchooler LucySmith 'Matthew-Theobal-

d

GrisstenThompson LucyTrue WilliamThorn SamuelTaylor ElizaTaylor JosephusTrotter James G.Turnbull JamesTItonipson JohnTHomas Reuben'Thompson AnnTwejlay HenryTurnham JoelTaylor Reuben T.

Urban Frederick '

Vance CatherineA'aughan James

,-

VinsentJamesA'allandingham Geo.A'illiminot PaulArerriere Monsieur

Woodson 8: HawkinsWebster AVilliam 3Wilson AndrewWorthington John T.Wllkins William 2AVarder AVilliam

oodson Samuel 2AVilliamson Alex.AVard AV.

Wilson Braxton G.AVeaver John JAVoodson Joseph C. 2Wood StephenWilson RobertAVilliams HensonAVorthington RachelWebb Edward C.AVorley Margaret P.Waltz FrederickWhitcomb JamesAVilliams JamesAVinn MaryAVahue John .

AVood Edward ,AA'right 4Afr.

AA'HIett Marfin T.AVright JeffersonAVebster WlUianiVeir Aaron

Winters CatharineAVilliams Mary

A'oung, Green Sq, Co.A'ates tJoftft ' - "

Yoimg AV. S.weric Committee

3JOHN P.M.

April 1819-15-- 3t

ff' for letters advertisedivin piease mention it.

XAst ofthe Post-offic- e at

is taken withinthree months, willbeuiiiuc as ucau iciiers

Walter ATes,Rand'h. Adams ,John S. Alexander

Richard Brids-efor-

jJcry.' Buckly 2wm. u. UlackburnLeonides W. BakerThomas BaileyAlexander BrooksMr. Bond 2Thomas BensonRobert Bell ,

Richard BivinsJohn BostonRichard Bibb

Samuel Claggett 2Martin coonsThomas CarrellHenry ClaggettLewis ChristopherJames L. Crawford.Crockett CarlisleJacob deathGeorge CarlisleChomas Church

AVm. Diws 2braliam Dale

Satnucl EvansRevd. James ElliottBeniamin'KlkinRobert M. Kubunk2

Air. TergusonJen'. Finch

6: Morris

Robt. GainesGabL1. Gaines

Jluyoung & BolitjnThontas IlannerSolomon Hufford 2William IlavdonJohn.Hamilton

Elizabeth JacksonZa'ekv Jones

Thos. KennanSinclear KirtlySamuel

John LeeII. &; AV. B. Ixing

Alr.-sh- M'CIanahanJames MessAnd. MondleWm. Mayo & Co. 3.lahn'MuyElizabttli McrriJithIsaix'MihsStephen MversJ. G. M'Kiimiy 2

NJames Xorris

Joseph Patrick

Saper John H.Smith Hanftall

3 Sheely Capt.4 Simpsqn Jane

SputgDaniclSlouMfe

- Scott Tjiomas2 Stewart Ann3 Smith A. '

TTrue JairTedman FrancisTurner WilliamThorns.Bessy'Tliompibn GilbertTaulJhiue.l ' 'ThonifjjSnl RithardTutt tfeo.rge H.Taj.p NMson;TunpeJS;oI)TalbotljfniTaylor HubjiardTrimble John -

u.

vVardeman Jeretf-.ia-

A'erble ElizabethA'aughan SarahA'arnum JohnA'alrinJule

fayette CircuitHealthCourt

FOWLERS,1,

B' 1e'rs0T,s calling

iifcttiM's,REMAINING. in

not out

T.

Fridge

F.

Knuckold

II.

D.

wAVardlow JohnAVyatt AValtcrAA'ormsdoffJolm 'AVilliam AVatsonAVard David L.AVilliamSon Alex.Wilcock AnthonyAValters BladenburyWhite JamesAVright BenningWiison JamesAVilson Catharine'AVilson AbnerAVilson A J.AVarner ElijahAVhitney HoraceAVorley Elizabeth D.AVright WilliamAVilliams RichardAA'eaber George A.AVall AAllliamAAHlson JonathanAValls JIary AnnAVeber HenryWhitmoq-e- FrcdtAVten AVilliam :

AVilliams MargaretA ithrow'WiU. '

AVhite JohnAVhiug Mary

:A'ates AbnerYoung LeonardYarnell Isaac

J. p.

sent to the General post:AMartha M AllenRobert II. AnnisToby Armstrontr

B.'Doct. P. AV. BrownThomasBuck & CottonGeorget BlackburnElliott BohannonT. A. BuchannonLewis BowdryAVashington! BarnesJohn L. BucOi Co.Johnson BallardDanLBell

C -

Alexander C. CarlisleEleanor CooperDuff'ChadwellClerk of Woodford C.C.Am.H. Cosby 2Col. A. Coinbs7'homas Colemanliichard Cosby.Larkin Carr

DAVm. Dickerman

EJesse EllisElizabeth EwellJames ElliottAVm. Edtrar

I"AVilliam FlorenceJohn I'ritzlin

GRebecca GoffAVilliam Grocn

IIWm. HarrisSydnor lhmh-- 2John Hannah & Co,John Haydon

David L. Jackson

KSallv KirtlvAllen KidtlHezekiah Kecton

LL. IjndscvJames Laity

1I2Margaret M'Dou eil

A: R. MaceCaj.t J M'ConnelJoiin M'Kinney 3Enos MixElijah Milton

.MossThomas MortonTuoiuus IS. Mai tinOGcu.H. OiTatt

PPepper

Rebecca G. PaitonThomas PhilipsElijah PepcrJoseph Pace

MariajpyRailoyL. F. Rucker 2Saml. RankinJacob RynerLuiinda Q. ReedNearaiai Rqdden

.liiuaRemqlsCr- '

AVm.P.SmifiT 'T '

John ShepheltlBenjamin OjSfnithJohn 11. Simm.John StanfotdJohnU. SmithJaiaes butei,

, Elizabeth Stdrenson

Hulseman'jjm: ettAbhi. TodiW'Joel Turnham

kAIrSfcsbett'U

Francis Uterbact

Elizabeth AVilliamsJane AVatkinsBenjamin AVilsonThomas AVinn jr.James AVrightJohn AVilliams 2John AV. AVaring

John Youngjos. ir.

Arersailles, April 7,

removed his

to

Alvah PalmerParrish

John

RRobt. RamseyRandolph RaileyJames Revell

RobertsonAVm. AV. RightAmidStephen Ruddle

, SElizabeth ShipGavin SteelRobt. Stevenson

ShipJohn SingletonJoseph SmithCol. William SteelRobert SheltouMiss A. Sullivan

iVW'OWEr AT LAW.FTAS

JLJL to his residence on Limestone-stree- twhere he may be sound by those persons hav-ing business to transact with him.

April 7, 1819 15--

UCQYSC"AS REMOVED his store to the Upper

End of'Cheanside. onnnsite tn Messrs.Shreve U Comb's' Auction Room. Intendingsnoruy leave theIleinflinrnz Slock of DRY GOODS,onl(8 terms, by retail ; and, by wholesale,tvljl iispose of theiifflRjjtltcmliiladelphia priceswj(h can-iage--

.

jKtoeortho Independent and State Banks,,1. . .,

iexinsjon,i&&ved,susm'E

lis nnfivvr

Parker

Rucker

Richard

WW' ting. BRANDY,T Ito. H. UIN,2i PIPES 'S. M. AVINE,

14 Boxes containing two doz. bottles eachOf MADEIRA,

A large quantity of American and EnglishPatent CUT NAILS all of which will be soldunusually low.

' SIIUBA'E 5c COMBS,April 13 16tf '

April

AnthonyThompsonSally TurnerAVdliam Tant ,

RichardThoinpsonV

Henry

AVallaceAusiin F. AValdenEdson WatersKendall WebbZephaniah AValdenBarzilla WrightStephen D. AVinn

Thomas Youngjmrsojsr, d. p. m.1819 3t

Office from Main-stree- t,

Cox,

town, oners tor sale his

April i.4in,-iaty- - io-ji- -

and for Sale by& COJLBS,

ettr-AT- ?

me wold so I get

Locust .Grove Academy,One mile South ajL Lexington.

il.1v again be rpenecl tor the receptionof Punils on the first Monday in .May.

The department of Languages will remain un-

der the usual The subscri-bers have made suitable arranpmentsfor con-ducting classes in .Mathematics, Geography,Jattcral Philosophy anil Astronomy. They willalso be in readiness to assist voungmen inthe study or TMgie, Belles Lettres, Ethics aridJlletaphmiee, whenever classes can be formedof sufficient magnitude to justify the expenseof time and labor. Complete arrangementsare also made for conducting t.wo classes os:temaies under the immediate supenntendanccof the subscribers. They hope that no assur-anj- e

is needed, of their disposition to thither,to the 'utmost of thejr power, the religiousknowledge, and to cultivate the feelingsof all whoinay be committed to their charge.Boarding can be had at Locust Giove, andwithin Haifa of it, in families ohe firstrespectability. ' JAMES M'CHORD,

E. SHARPE,April 12, 1819 ;6-3- t

look Here! !

"O AN WAA' from the subscriber on Mon-JL-

day tlie 12th aNEGRO MAN itemedGEORGE, 20 or 27 cars of aire, about 5 feet7inceshigh; he is sturdy and strong made,lias ablink or cross eye ; his countenance un-favorable, had on when he aw ay, yellowlinscy pa'ntaloons, blue factory cotton cloth

Ucoat, and took with him a pair of blue pantaloons ine same as the coat, and other clothing;but perhaps he has parted with them. He car-ried with him a small brindle dog, with cropedears and bob tail, is not parted with isverjfond of himr Any person who will apprehendsaid tellow and bring him to me living in theClover EoUom, AVoodfonl county, near Shawnee Run ferry, or sendnun again, snail be handsomely rewarded lorhis or their trouble.

JAMES HAAVKINS.15, 1819 15w

Mrs.

Geo.

Ann

that

best

mile

inst.

went

'pAKLN ,UP,by George Goiham, liiing inFayette counly, 6 miles from Lexington,

on the Iron AVorks road, one BAY MARE,supposed to be 4 years old next spring ; about144 hands hiffh : lias a star in her forphr-ar- lneither docked nor branded. Appraisedg-U- ; this 2 Jd day of Dec. 1S18. '

16. Acopy-A- tt. J AS. AVOOD.'j. p.rNAh.t;i L.P ty .(,

T.

T

Aranoll

to'

Wilson in JessamineJL county, On the waters of Clear creek, near.lntmm9c tnU l 1 V Ti r 'n . .1.,.,. .. - j...,,, ., j,i j.iu.l.1, j years old

tins spring, no brand perceivable, docked, andhipped on the oti' side Appraised to gl8 thisviwv viy ui ucti-nmer-

, ioio.l0 JAMES DtCTN.

Jusl Published in Pamphlet,Ar.J for Sale at AV. W.AVorslev's Book,stohe,

and at the Ketuc$.t Gazette OrncE,

THE DECISIONor the

Suprciric Court ol'thc Utiilcd Stales,In i Jat.'on to tla PAJVA' of the V. STATES.

Pmcr 25 Clats.April 16.

fiailc "WavvaiYls,i'OS SALS AT THIS OFFICE.

CONG moss.MR. LOWNDKS' SPI'.ECH

OJV THE BANK QUSTfOJr.HOUSE OF REPRESENTATIVES.

Mr. LOAVNDES said, that the gentlemanfrom A'irginia, (Mtv Pindall) who had last ad-dressed the committe'o5jiad discussed the po-licy of the law which chartered the bank, themotives of congress inwe executive government in the measureswhich had been adopted for carrying it intoeffect. He would not enterjnto these topics.The subject was large enough, "Without digres-sion, to occupy their whole attention for thetime which it would be reasonable to appro--priat- e

to this debate. Is the reputation of thefourteenth congress, ot of the late administra-tion, could be impaired by observations or cir-cumstances like those which had been addu-ced, he would say of both that they were notworth defending. Inthe course ofhis remarks,indeed, it was not improbable that he mightadvert to facts which would repel the conclu-sions of the gentleman from A'irginia, but hewould not deviate from the strict line ofhis ar-gument, to engage in so useless a controversy.

The committee, of which he had the honorto be a member, had expressed an opinion, inrespect to the first operations of the bank, cor-re-ct

enough, perhaps, in its general principle,but erroneous, as it seemed to him, in its ap-plication. They say, ''that the bank could haveproceeded gradually, growing with tiie growth,and strengthening with the strength of the na-tion, as it emerged from the evils ofnhe floodof paper issued from the local institutions.The bank could have felt its way, and increas-ed its means with the increasing demands ofthu country. Such a cautious proceeding wouldhave enabled it to render invaluable service inchecking the issue of state banks, and bring-ing them to the "alternative of avowed bank-ruptcy, or to the permanent resumption ofspecie payments." He was not disposed to

mac, wiuie a uiscreaneu currency wascirculated through the country, While the ex-cessive issues of bank paper (of which the warnan oeen iiie cause or the apology) continuedto resist the introduction of real money, thecommittee were right in supposing tliat it wasthe interest of the'natiotial bank to commenceits operations slowly, or to postpone them. Itwas its interest to leave it to the governmentto sight the battle against depreciation, and tocome in afterwards as a partaker of the victo-ry. Even aster the 20th Februarv. 1817. thnbank might have pursued the cautious policy of..i.iiiiuiuiii us accommouauons irom tne go-vernment and the neonle. until the rp.rlnr.tinnof other paper had made its issues necessary.unusaie. ic might nave prelerrcd its inter-est to its duty. The state banks, unable tocomply with the requisitions of congress, whichdemanded from them the resumption of spe-cie payments, must have lost their credit withtlie COmmilTllfV. Thr ir.rloa1might have been embarrassed, the public dej?t- -nrC Hn!tif.cco m.rl 4l.A rA.n rnn.!....!nu... U....V.JVU, .mil Ltit. oliiic insuilU-iuil- navebeen brought " to the alternative of avowedbankruptcy," but these competitors forpublic savor and employment would Jrtivebeen removed, and the national bank wouldhave entered into the full enjoyment of themonopoly which the ruin of every otherinstitution would have prepared. This mighthave been its interest. But there wereother interests to be consulted those of thegovernment and the people. The bank liadnot been established for the purpose of givingto its stockholders the harvest which such apolicy might provide. It was the instrumentby whose use we hoped to secure the resump

passing-i- t, and those of

to congress the power,

notthat, without their co in

government paper of

for

to comply With thejr

er

tion of specie payments constructed, not forits own sake, but for ours. The act of thelegislature, and the proceedings of the treasu-ry department, would show how incompatiblewith the objects of its would have

that postponement of its operations, orthat gradual commencement of the"m, whichwas recommended now, when the difficultiesof the time were forgotten.- - The fourteenthcongress was aware that a view of itsexclusive interest might induce the nationalbank to adopt the policy which the committeehad described The act which they passedpiovidcd that, as soon as the amourt of thefirst subscription (8,000,000) should be re-ceived, the Lank should thenceforth commenceand continue its operations. The twentv-se-- '.

cond section reserved

make simultane.

institutionbeen

narrow

11 snouiu 1101 go into operation belore tnefirst Monday in April, (at which time the thirdinstalment was not due) to declare its chartervoid. This wasthe measure of the legislatureto secure the early operation of the bankThose of the treasury department were in en-tire consonance with its principle.

He must ask the indulgence of the housewhile he read some extracts from two lettersOf the secretary of the treasury. In a letterto the commissioner for receiving subscrip-tions, (dated Aug 15, 1816,) the secretarysa) s, " It is, indeed, of high importance to thepeople, as well as to the government, that thebank of the United States should be in an or-ganized and active state before the 20th ofIcbruary next, when the paper of the statebanks which have not returned to metallicpayments must be rejected." Again: "It isLclievcd that the bank of the United Statesmay be in operation before the first day ofJanuary next, (before tlie receipt of the second instalment.)

Mr. Crawford (who, nfter the date of thelast letter, had succeeded to the office of sec-retary of the treasury) writes, on tlie 29th ofjNov. 1810, to the President ot the bank, that" it the state nanus doout effort, itis manifest

H

a

11

operation, a national currency, equal to the in-

dispensable demands of the community, can-not be obtained by the 20th of February next."He asks whether "it is possible for the bankto supply the demand of the commercial ci-

ties which" the collection of the revenue arising from imports and tonnage, will create inthe interval between the 20th of February andthe 1st of July." He sutrcests that it may benecessary to employ "asome description in that interval, but adds,that " it is most ardently desired by govern-ment, that the necessity qf resorting to the is-

sue of government paper may be avoid d bythe resumption ofspecie payments by the s'atebanks, on or before the 20tli of February."

The first object which the government ex-pected to attain by tll national bapk, was thatof throwing into general circulation by the20th Fib. an amount Of notes sufficient to enable the public debtors

has

eiigi," - men's hen it aj peared impi acuca-bl- e

that the amount or tuspcrsion ot thesenotes .iliould provide for the object, the neit

resource was to give to those of the state banksa credit which should enable the treasury toreceive them under the resolution of cungress.These banks had refused every proposal forthe resumption of specie payments. He wouldnot say they were unwilling, but thev were

to adopt them. The,remonsh-ace- andencouragement of the government were una-vailing. It was then that the national bank,certainly not in the spirit of narrow jealousy,entered into the compact with the statebanks which had been referred to by the gen-tleman from A'irginia. It was impossible to dojustice to the conduct of the national bank,at least for the first year of its operations, with-out attending to the new obligations in whichthis compact involved them. Proposed bythe executive government, and sanctioned byit required by the interests of the people,and necessary to the credit of the local insti-tutions, there could be no other objection tothe act than that it accorded better with thepublic interest than with that of the stockhold-ers. Under this compact, the bank becamebound to discount six millions (exclusive- - ofrevenue bonds) before the 20th of April, andto sustain, with its unbroken credit and itswhole capital, every bank which joined in thearrangement. The effect of this compact wasriot only to force the bank into earlier opera-tion than a selfish policy might have recom-mended, but to oblitre it to renounce the rc--sbvrce which the state banks might have af-forded for the supply of specie. South ofNew England, there was no specie in circula-tion. The national bank had encnurprl tn aun- -po.it the credit of the state banks, and, is itproduced a demand of their specie, it wasbound to aid them by the loan of its own. Hemade these observations very much with aview to the conduct of the bank in affordingfacilities for the payment of the instalmentsupon its stock. But he did not mean vet toengage upon that topic, A ncctssary conse-quence of this compact, the committee?would see to have been, that, is a large

of specie was necessary t'o the ope-rations of the bank, it could bo obtainedonly from foreirrn countries. Its imnortationmight have been trusted to the gradual con-tributions of trade, aiul he believed it wouldhave been .better to have been so. But theerror of judgment, is it was one. which con.sisted in the bank's importing specie from

had no character of bad faith. Per-haps it was unnecessary. Is it were necessary,it resulted exclusively from 3 compact whichinterdicted all reliance upon the specie of tliestate banks.

Is the committee, then, should determinethat the early operation of tlie bank, and itsimportations ofsilver, were both of them judi-cious at least they would say, that neitherwas criminal. Perhaps the effect of bothwas injurious to the stockholder the countryhad no right to complain of them. But thesecond article of the compact had drawn downthe severe animadversions of the gentlemanfrom A'irginia, (Air. Pindall.)"' He had consi-dered it as obliging the state banks to pay in-

terest for .public balances transferred fromthem to the igh the na-tional bank had not undertaken to pay thesebalances to the government in- its own note3or specie. In other words, he had supposedthat the national bank received interest fromthe state banks on what had been called thespecial deposites of the government. He hadadmitted it to be fair and right that the bankshould receive interest on all balances trans-ferred to it, for which it gave a general cre-dit, and V.'llich mirrhtfrom it in com. Now, Mr. L: said, that he didnot hesitate to affirm, that these were the on-ly balances on which interest had been re-ceived or claimed. There, was, in the sen-tence which had bten read, little ambiguity,(which would have been avoided by introdu-cing the parenthesis before the five wordiwhich now preceded it,) but this error in stylewas no serious crime ; and the meaning of acompact, which had been carried into effectwithout objection by either partv, wjis best as-

certained by its executionAmong the errors of the bank, in its first

operations, one of the greatest, as it appearedto him, had not been censured by the commit-tee. He alluded to the attempt to pay thenotes of the bank, and its branches, at any of-fice at which they should be presented. Thecommittee had said, that " tlie relinquishmentof this attempt was involuntary and reluctant;"but the attempt itself, though directed to thepromotion of the public convenience, andurged by the public wish, had produced somuch embarrassment and injury, that any

of the conduct of the bank roust bevery defective in which the effects of this injudicious scheme were omitted. He hopednot to be suspected of enlarging upon thissubject for tlie purpose of supporting a

theory. Its examination was necessary,because it had produced much of the mischiefw men had been attributed to other causes.He should not have to argue that the bankwas not bound to pay its notes indiscriminate-ly at all its offices. He believed that nobodynow contended that it was. He Should not in-quire how far it could be practicable so tapay them his proposition was, that the at-

tempt, while the situation of the country made11 pracucaoie, would even then be embarrass-ing and injurious.

In every system of banlc circulation, the re-gulation of the amount of discounts and issuesis a point of the utmost importance. In bankswhich redeem their paper by specie, the re-straint upon excessive issues consists in this.that the superfluous paper is thrown back up-on the bank apd its specie withdrawn. The.directors of a bank, with very little knowledgeof the principles ofcirculation, and little information as to the currency of other states, art

this way controlled in all their operations,by a principle which proportions the circula-ting money of the country to its real business.He did not mean to inquire whether other orbetter regulations of the amount of paper incirculation might be adopted. AVe had no oth-er. But how were the discounts ofa branchbank restrained, under the system which nrolvided that the notes whichredeemed at eveiy officenited States ' Is the balance of exchancowere ' unfavorable, (and a profuse discountmight at any time make itinterest ot every man who got possession of abranch note, to send it to a state where the ex-change was high. A bank note is an order

tlie payment of money : and is the hnlrlpn

it,s

it should I,

throughout tlie U.

so,) it would be

upon its specie and

the option of drawing this money at dif-ferent places, he will draw it threTwhere mo-ney is most valuable.. Is thediscSunts of Lex-ington Vere larger .thin .the business of theplace required, and the notes which were issu-ed there were redeemable no where else,bank at that place would "immediately ilisrm.

error by the drafts

issued

the

the