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they commenced, and I hope you will lose not a single moment in forwarding their views. They say they will be extremely happy to see you out; nothing would give them greater pleasure than to see you out at this time. If they should not see you, to send them out all news and directions, that they may be guided by it.

There is about three hundred blacks at this place few of our Bluff people. They beg me to say, they depend on your promises, and expect you are on the way out, They have stuck to the cause, and will always believe in the faith of you, and any directions you may give send to me at this place, and I will do what I can.

And remain, my dear sir, most truly yours,

ROBERT C. AMBRISTER.

All news respecting them, your excellency will d° a favor to let us know by the first opportunity, that I may make them acquainted. I have given directions to the captain to let your excellency know when the vessel will sail for this place. I hope your excellency will be pleased to send them the ammunition. I expect, if they do not procure some very shortly, that the Americans will march through the country. I have nothing further to add. I am, dear sir, your most obedient humble servant, ROBERT C. AMBRISTER.

E.

From Robert C, Ambrister to Peter B. Cook,

MOUTH OF THE RIVER. Dr. Cook: The boat arrived here about 3 o'clock on Phursday: The wind has been ahead ever since: I have been down. The rudder of the vessel is in a bad condition; but I will manage to have it done to night. The wind, I am in hopes, will be fair in the morning, when I will get under weigh, and make all possible dispatch. I will make old Lewis pilot me safe. If those Indians dont conduct themselves straight, I would use rigorous means with them. Beware of Mr. Jerry: I found him on board when I came. Keep a good look out. I have sent two kegs of powder and one bar of lead. Yours, &c.

TUESDAY, 3 O'CLOCK.

R. A.

Question by the prisoner. Did you not frequently hear me say that I would have nothing to do with the Indians in exciting them to war with the United States?

N. B. Francis says you must bring the horses when you come out, that you promised, and that his house has been burnt down, and burnt his uniform clothes. R. A. C. From Robert C. Ambrister to governor Cameron. March 20th, 1818. SIR-I am requested particularly by the Indian chiefs to acquaint your excellency, that the Americans have commenced hostilities with them a long time since, and have advanced some distance in their territory, and are still continuing to advance. That they (the chiefs of Florida) have sent repeatedly to your excellency, and have never received one answer. They suspect Mr. Arbuthnot has never delivered the papers to your excellency. They wish me to state to you, that they are completely out of ammunition, muskets, &c. begging your excellency will be pleased to send them the articles above mentioned, with a few cannon, as the Americans build their boats so strong, that their rifle balls cannot penetrate their sides. The captain of the vessel, who will come down again, I have given orders to make your excellency acquainted what time the vessel will sail for this place. Your excellency will, I hope, be good enough to make the prince regent acquainted with their situation, and ask for assistance; which they have pressed me very hard to press upon your excellency's mind, and likewise to send them down what news may be respecting them and the country, which will be a great satis-secution, being duly sworn, that some time in the

faction to them.

I have the honor to be, &c.

ROBERT C. AMBRISTER.

Ans. I do not recollect.

Question by the prisoner. Are you acquainted with Lewis Phenix, and have you not heard him express ill will against me, in consequence of my wishing him to pilot me to St. Marks?

Ans. I never did.

Ques. Do you know of my sending troops at any time to fight against the United States; and have I not been constantly with you, so that you would have had an opportunity of knowing if there had been any sent by me?

Ans. I have not: they might have been sent without my knowledge.

Jacob Harrison, a witness on the part of the pro

latter end of March, or first of April, the prisoner took possession of the schooner Chance, with an armed party of negroes, and stated his intentions N. B. They beg your excellency will be as expe- of taking St. Marks. On his way thither, going ditions as possible. That your excellency is the on-ashore, he learned from some Indians that Arbuth ly dependance they have, and who the prince regent told them would give them every assistance that laid in your power.

ROBERT C. AMBRISTER.
D.

From Robert C. Ambrister to Gov. Cameron, &c.
Suhwahnee, 20th March, 1818,
Near Fort St. Marks.

not had gone to St. Marks, which induced him to return. The witness also stated, that, while the prisoner was on board, he had complete command of the negroes, who considered him as their captain. The prisoner took the cargo of the vessel up towards Suwany, which consisted of, with other ar ticles, nine kegs of powder, and 500 pounds of lead.

The evidence on both sides being closed; the prisoner was allowed until 5 o'clock this evening to make his defence.

SIR-I am requested by Prancis and all the Indian hiefs, to acquaint your excellency, that they are at war with the Americans, and have been some time back. That they are in great distress for want of The time allowed the prisoner for the preparaammunition, balls, arms, &c. and have wrote by Mr. tion of his defence, having expired, he was brought Arbuthnot several times, but they suppose he nev-before the court, and made the defence marked M, er delivers them to your excellency. You will o-which is attached to these proceedings. blige them much to let them know whether he did

or not.

I expect the Americans and Indians will attack us daily. I have sent a party of men to oppose them. They beg on me to press on your excellency's mind to lay the situation of the country before the Prince Pegent, and ask for assistance.

The court was then cleared, and the proceedings read over by the recorder, when, after due delib eration on the testimony brought forward, the court find the prisoner, Robert C. Ambrister, guilty of so much of the specification to the first charge, las follows, viz. "and did excite them to war with the United States; by sending their warriors to meet

and fight the American army, he being a subject of To which charges the prisoner pleaded not. Great-Britain, which government was at peace and guilty. friendship with the United States, and all her citi- The court, after mature deliberation on the evizens;" but not guilty of the other part of the specifi-dence adduced, find the prisoner, A. Arbuthnot, cation; guilty of the first charge; guilty of the spe-guilty of the first charge, and gusty of the second cification of the second charge, and guilty of the charge, leaving out the words "acting as a spy;" second charge; and do, therefore, sentence the pri- and, after mature reflection, sentence him, A. Arsoner, Robert C. Ambrister, to suffer death, by be-buthnot, to be suspended by the neck, until he is dead. ing shot, two-thirds of the court concurring therein. Was also tried, Robert C. Ambrister, on the folOne of the members of the court requesting a re-lowing charges, viz. consideration of his vote on the sentence, the sense of the court was taken thereon, and decided in the affirmative, when the vote was again taken, and the court sentence the prisoner to receive fifty stripes on his bare back, and be confined with a ball and chain to hard labour, for twelve calendar months. The court adjourned, sine die.

EDMUND P. GAINES, Major-General by brevet, President of the Court. J. M. GLASSELL, Recorder.

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Charge 1st. Aiding, abetting, and comforting the enemy, and supplying them with the means of war, he being a subject of Great-Britain, who are at peace with the United States, and late an officer in the British colonial marines.

Charge 2d. Leading and commanding the lower Creek Indians in carrying on a war against the United States.

To which charges the prisoner pleaded as follows: to the 1st charge, not guilty; to the 2d charge, guilty, and justification.

The court, on examination of evidence, and on mature deliberation, find the prisoner, Robert C. Ambrister, guilty of the 1st and 2d charges; and do, therefore, sentence him to suffer death, by being of the vote on this sentence, and it being had, they shot. The members requesting a re-consideration sentence the prisoner to receive fifty stripes on his bare back, and be confined with a ball and chain, to hard labor, for twelve calendar months.

and sentence of the court in the case of A. ArbuthThe Commanding General approves the finding of the court in the case of Robert C. Ambrister, and not, and approves the finding and first sentence disapproves the re-consideration of the sentence. of the honorable court in this case.

To the first charge the prisoner at the bar pleads It appears, from the evidence and pleading of the not guilty, and, as to the second charge, he pleads prisoner, that he did lead and command within the guilty, and justification. The prisoner at the bar territory of Spain, (being a subject of Great-Britain) feels grateful to this honorable court for their good-the Indians in war against the United States, those ness in giving him a sufficient time to deliberate, and arrange his defence on the above charges.

The prisoner at the bar, here avails himself of the opportunity of stating to this court, that, inasmuch as the testimony which was introduced in this case, was very explicit, and went to every point the prisoner could wish, he has nothing further to of fer in his defence, but puts himself upon the mersy of the honorable court.

ROBERT C. AMBRISTER.

HEAD-QUARTERS, DIVISION OF THE SOUTH.
ADJUTANT GENERAL'S OFFICE,
Camp 4 miles north of St. Marks, April 29th, 1818.
GENERAL ORDER.

At a special court martial, commenced on the 26th inst. at St. Marks, and continued until the night of the 28th, of which brevet Major-General E. P. Gaines is President, was tried A. Arbuthnot, on the following charges and specifications, viz:

Charge 1st-Exciting and stirring up the Creek Indians to war against the United States and her citizens, he, A. Arbuthnot, being a subject of GreatBritain, with whom the United States are at peace. Charge 2d-Acting as a spy; aiding, abetting, and comforting the enemy, and supplying them with the means of war.

nations being at peace. It is an established principle of the laws of nations, that any individual of a nation making war against the citizens of any other nation, they being at peace, forfeits his allegiance, and becomes an outlaw and pirate. This is the case of Robert C. Ambrister, clearly shewn by the evidence adduced,

The Commanding General orders that Brevet Major A. C. W. Fanning, of the corps of artillery, will have, between the hours of eight and nine O'clock, A. M. A. Arbuthnot suspended by the neck with a rope, until he is dead, and Robert C. Ambrister to be shot to death, agreeable to the sentence of the court.

John James Arbuthnot will be furnished with a
passage to Pensacola, by the first vessel. "น
The special court, of which Brevet Major-General
E. P. Gaines is President, is dissolved.
By order of Major-General Jackson.

ROBERT BUTLER, Adjutant-General.

We have received some sensible articles against the project for a "Circulating Medium," published in the supplement to the REGISTER of the 21st ult. We have no idea that that project, or any thing in affinity with it, will be adopted in conCharge 3d-Exciting the Indians to murder and gress, for every body feels the necessity of lessen. destroy Wm. Hambly and Edmund Doyle, confis-ing the quantity of our paper money--but, as soon cate their property, and causing their arrest, with as we can spare the room, now occupied by things a view to their condemnation to death, and the seiz-of more immediate interest. one or two essays ure of their property, they being citizens of Spain, ahout a "circulating medium" may be attended to on account of their active and zealous exertions to especially one signed "W.” maintain peace between Spain, the United States. and the Indians.

The plain truth of the matter, however, isthat the public feeling now is so much excited by

they mean to apply to our legislature to get themselves INCORPORATED!—and positively assert, that they have as much right to a CHARTER as those banks which obtain them for the same vile purposes."

the character and conduct of our banking institutions-so much occupied with succedaneums to retrieve,or measures to coerce justice of them-with town or village meetings; projects and counter projects; negative, positive and neutral essays, schemes and remarks; fawning svcophancy and unqualified reproach,and a string of et ceteras, "as long as my arm," which might be added-that we are mentally stunned with the clamor, and shall be compelled very much to pursue our own course with out observing that of any one else; or, abandon the great object of the REGISTER-which shall not be done. We do intend, nevertheless, wholly to re. tire from the discussion, whilst the hope of refor.tive to the proceedings, state, and condition of the mation exists; though exceedingly desirous of noticing the gambling by LOTTERIES, which we consider as the twin-sister of the "paper system"-if indeed, the latter is not rather the parent and nurse of the former.

From the National Intelligencer of Tuesday last. THE BANK OF THE UNITED STATES. There was yesterday laid before the Senate of the United States, by the Secretary of the Treasury, in pursu ance of a resolution of that body at the last session, a letter from the President of the Bank of the United States, transmitting sundry statements rela

Dank. It will be some days, possibly, before we are able to lay before our readers all the papers relating to this subject. On looking over the documents communicated, the most important appears to be that which gives a statement of the debts due to the Bank at Philadelphia, and its several branchWe are truly glad to see, that some persons, in es. From that statement we abstract the followevery part of the United States, have not only being account of debts now due for bills discounted at the bank and its branches, respectively, viz. : At Philadelphia, Portsmouth, Boston, Providence,

gan to think seriously about the rise, progress and end of the "paper system," but have lost a great part of that delicacy-perhaps it might be called TERROR, which was heretofore felt for some neigh. boring "bundle of rags." A little while since, and the managers of such establishments conceived themselves a separated order, whose proceedings were above public investigation, as much as these of the pope-who is infallible, as some persons tell us: But all men seem to bave ascertained the fact, that these institutions, ostensibly designed, and so incorporated, for the public good, are very gene. rally converted into mere agents, to aid the specu lations of a few individuals, at the cost of the productive agriculturist, mechanic, and manufacturer, as well as seriously to the detriment of every regular trader. I recollect to have seen a picture representing a prince, a priest, a soldier, a lawyer and a poor laboring man-the first as saying, "I govern all"-the second, "I pray for all"-the third, "I fight for all"-the fourth-"I plead for all"-and the fifth, "I PAY FOR ALL" This is the plain fact of the case-and when one of my cute acquaintances made 50,000 dollars,real money, by the sale of a certain quantity of paper stock, of a bank not necessary to name, by disposing of it when the bubble was up-I immediately began to calculate how much of that money, made by him, would fall to my own lot to pay. For the truth is, let argument do the best that it can, every such unreasonable sum of substantial money, made by dealing in unsubstantial things, must ultimately be accounted for by the sweat of the people.

8,834,089 62 232,962 48

410,257

471,683 46

Middletown,

384,118 34

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The total amount of notes issued by the Bank and its branches, has been $19,854,881, and the amount of said notes now on hand at the Bank and its branches, is $11,184,189. So that there remain in circulation notes to the amount of $8,670,692 dollars only.

[Baltimore-eight millions, four hundred and eightytwo thousand, three hundred and seventy-nine dollars and seventy-seven cents!!!—WHO HAS GOT IT? Not the people, generally-it is very doubtful if one million, or an eighth part of this tremendous amount, is scattered among the regular traders of this city, in aid of regular business. For these, so every body A Mr. Charles Rumsey, jr. has published in a says, have been squeezed, and squeezed, and squeez. Kentucky paper, under his own signature, some ex-ed to the limit of leaving mercantile life in them. tensive calculations of the amount of cost, that But we have not room to say much on the prethe people of that state will have to pay to the ceding exposition at present. It certainly is a great banks. Perhaps, some of his items may be over-curiosity, if carefully examined from "the top to the charged, yet we think his result is not a very un-bottom." We shall let it pass until we see the pareasonable one. He says he feels pretty well pers at length.-ED. REG. satisfied, that the industry of the state" will pay to the system, 20,000 000 dollars a year: which must Vermont Banks-The legislature of Vermont has be considered as including all the business of in- adjourned, after incorporating two banks, one at terests, discounts, premiums, fees and salaries- Windsor, and the other at Burlington, under pretty counterfeit notes and the shaving of real notes, ap-heavy restrictions. The state is to receive 6 per pertaining to it, from beginning to end. cent. on the nett profit of each bank; the directors The Olive Branch, a new paper published in to give bonds, $8000 each, for the faithful discharge Ohio, says, "There is now organized in a certain of their duties; upon refusal to redeem notes with part of this state, a society of faro, billiard, hazard specie, to pay the holders 12 per cent, interest; and and card players, money shavers and horse racers, in case of prosecution, the supreme court is emwhich are generally denominated gamblers and powered to vacate the charters. It will be recollectswinullers, alias blacklegs. We understand that led there are now no banks in operation in that state.

Ohio banks, generally.-Many of those that were considered as the best banks in this state, have stopped payment. It is feared that all the rest must follow-there are no purchases of the notes of any of them, at present, at Baltimore.

Pennsylvania banks -Most of the banks in this of its notes in circulation, and Ohio has been drainState, located west of the mountains, have either ed of specie. It is a serious enquiry how these dissuspended specie payments, or are in such a pre-counts are to be paid. dicament that their notes are, at present, without price in the money-market on the sea-board. Others nearer to us are expected to follow; some of these have already stopped, and where this course is to end, no man knoweth! The people are lustily calImprovement proposed. In the present state of ling upon the legislature to help them--but it is difficult to conceive what the legislature can do to affairs, we respectfully recommend it to the conredress the present wrong. By forfeiting the char-sideration of the legislatures of the several states, ters of non-paying banks, which we should suppose when any persons petition for the establishment of they have a right to do, (after giving them a short a bank, that, if they pass a law for that purpose, period to resolve whether they will pay their debts it may have a preamble as follows: or not) a part of the evils, which now curse Pennsylvania, may be healed; and, in the reduction of the banks, a great future benefit will be conferred. As the littering in Pennsylvania was evidently carried through by speculators, in defiance of the deliberate judgment of the people of the state,we suggest the propriety of causing an official pub. lication to be made every year, in all the newspa-withstanding!" pers in that commonwealth, of the yeas and nays on the final passage of the law, against the veto of gov. Snyder.

"Whereas certain persons and their assignees and successors, unknown, have petitioned for the establishment of a bank at

Be it enact

ed, that for the good of the state, these persons, known or unknown, shall have liberty to become BANKRUPTS, and may legally swindle as much as they can-any law or usage to the contrary not

A meeting of the stockholders of the U. States' bank at Charleston, has been held in that city, and it is said that shares to the amount of a million were represented at it. The avowed object was to unite to produce a change in the direction-the stock had been at 50 per cent. advance, the stock. holders were surprized that it had descended so nearly to par, and wished to ascertain the reason

Several gangs of villians are industriously engaged in the circulation of paper, as bank notes, issued by banks that never existed at all. They are just trying how far the public credulity will extend.

Baltimore banks-Some inconsiderate publications have thrown out the idea of a probable suspension of specie payments, by the Baltimore banks. We have taken some pains to ascertain such facts as might enable us to speak positively on the subject, and feel authorised to assure our readers, that no such intention at present exists-nor is it appre-of it! hended that a resort to it will be necessary, unless it becomes general in other cities. The Baltimore banks, though many of them have had their funds perverted to the benefit of favored individuals (and such is the nature and spirit of those institutions) have so greatly drawn in their paper, as, notwith standing the pressure of the times, to feel confi. dent of an ability to meet their engagements to the public. And we do believe that this confidence is well founded-if we believed otherwise, we would say it, at once, without hesitation. The vast amount discounted by the office of the bank of the United States in this city, furnishes no sort of criterion for the business done by our local banks. You may pass up or down any of the principal streets, asking the question, how much of the eight millions have you got?-and receive a general reply of, "not a cent,

sir."

The principal dealers in country produce in Baltimore have associated and agreed, that hereafter they will pay only Baltimore bank notes for articles purchased by them.This procedure will mateaially affect the business of discounts and premiums, and tend to the circulation of a currency of a determinate value. Hitherto, country produce was chiefly traded for in the paper of country banks. A similar measure is practised in Philadelphia, and is is to be hoped that the two cities will work to. gether in this matter.

The pressure for money is very great in all our cities. To afford some relief, the state banks at Philadelphia proposed to increase their discounts, if the United States' bank would join them. “We have understood [says the account] that the bank of the United States has not assented to the proposition!"

Georgia.-Attempts have been made to procure the establishment of two new banks in this state. One, under the very pretty name of the "Agricul tural bank of the state of Georgia," was handsomely voted down in the house of representatives-34 for, 54 against it. A bill to incorporate a bank at Darien, has passed the senate, to forfeit its charter by refusing or evading specie payments, and all the stockholders to be responsible in their individual BRITISH BANKS. The London Monthly Magacapacities, according to their respective interests in the same-the state to be a party. This is consi-zine, for July, 1818, informs us, that in the year dered as tantamount to a rejection; and it seems 1817, the number of licensed banks were 500 in probable that a new bank will not be granted by England and Wales, and 27 in Scotland; but in the house of representatives on any condition what-1814, they were 696 and 21, respectively. Thus it appears, that in 1817, there were one hundred Kentucky banks-The old bank of Kentucky stop-and ninety fewer banks in Great Britain than there ped specie payments on the 20th November-but is reported to have resumed them on the 25th. We are happy to hear that this report is true. It seems to have been caused by the energy of the people.

soever.

Cincinnati banks. It is stated that 2500 dollars, per week, are required to pay the discounts on mo. nies loaned by the branch of the bank of the United States, at Cincinnati-the branch has scarcely any

had been three years before. Of these 190 banks, it is probable that at least 150 had failed. There is but one incorporated bank in England-one in Scotland and one in Ireland; ail the other banks in Great Britain and Ireland are private banks.

(Dem. Press

No doubt the greater part of the 190 missing banks have failed-nor is there any doubt that the

failure of the major part of them was caused by | bring us back to the time when a dollar was worth the temporary payment of specie by the bank of seven shillings and six pence) to the payment of a England, noticed in our last. Whilst one rag may premium on specie. This, at 5 per cent. would be exchanged for another rag, the system can go produce 600,000 dollars. The responsibilities of on-but not so, when it becomes a true represen- the bank are, of course, increased to the amount of tative of capital, and may be converted into money, the specie obtained; but it is worthy of reflection at the discretion of the holder. whether at least the half of that amount might not be safely added to the ordinary discounts of the bank, and thus return, in a new shape, more than an balf of the 30,000 dollars apparently sacrificed for specie?—because, the notes of a bank known to be resolved on paying its debts, would be in request by the people, and kept in circulation to a very great extent. Every body, that had money to put by for a month, or that was travelling from place to place, would wish to have them-for the pleas ing fact would soon become notorious that the notes of this particular bank were money, and might be changed for silver or gold, at any time, without grumbling.

Bank of England notes.-These notes are very meanly executed, and, of course, easily counterfeit. ed. A New York paper informs us, that some of our engravers and paper-makers have been consulted, by an authorised agent of the bank, about undertak ing the engraving and the manufacture of the paper, for a new issue by that institution! Certainly, we have as expert men in things of this sort as there are in the world. "Practice makes perfect." And we can also supply England with counterfeiters!!! -thanks to the system.

Specie Payments.

There is one thing in the conduct of some of our banks which every considerate man observes with pleasure-we mean, a reduction of their dividends. This either shews a retirement of their paper, or the withholding of a part of their profits to meet emergencies-perhaps, to purchase specie; as they ought to do, if they have not enough of it to meet their engagements. To further the primary object of maintaining their credit, every honest bank ought to retrench its expenses by every means in its power. It requires discounts to the amount of 15 to 25,000 dollars to keep one clerk; and his sa. lary, if his services can be dispensed with, would pay the premium upon such sums of specie.

I do not see any reason why this scheme is im. practicable-nay, the disgrace of bankruptcy out of the question, it seems certain that the future profits of a bank thus managed, would amply repay the temporary sacrifice that it would voluntarily make; and surely, as such good resolutions would be of eminent good to the public, the public would rally round and defend the bank against all wanton, speculating demands upon it, for the payment of coin. We should consider it as a common bene factor, and frown upon any attempt to embarrass its operations. Every one also, would be desirous of depositing MONEY in it, as a place of positive safety. But the bank would not be justified in receiving the notes of any other on deposite that equivoSome of our bank people think it very unreason-cated to pay specie for them; and perhaps, would able that they should pay a premium for specie to force others into similar arrangements. redeem their notes with. They have not reflected A momentary depression of the price of the stock on the subject-or, if they have, the pretext of its might take place-but what of that?-it would alunreasonableness is exceedingly impudent. They ways thereafter bear the highest quotation in the themselves fix upon what they will receive for market, and its notes would freely circulate at notes due to them, and compel payment in accept-great distances from the seat of its location. In able money, thereby causing, perhaps, an average respect to paper money, confidence is a matter of of 10,000 dollars of the paper of other banks to be the highest importance-and what measure could shaved in Baltimore, for example, every day: the tend more to inspire it than a frank expose by a rule should work both ways. And the bank is as bank of its means and proceedings to merit it? much bound to sacrifice a part of its profits to pay Honesty is always the best policy-and it seems to me in such money as I please to demand, for their me that the course recommended would result in noles, as it has to require me to suffer loss in pur- a great pecuniary profit to any respectable institu chasing from them such paper as they will receive tion that would openly adopt and persevere a lit of me in exchange for my own. Still, perhaps, it is tle while in it. The present disordered state of the prevalence of this false, one-sided principle, the currency cannot last-it is impossible that which has caused some to think of a second sus-the people should bear it-they are neither able pension of specie payments-an idea that cannot be too severely deprecated, unless the resolution is seriously taken to dissolve the corporations.

nor willing to bear it; one year will, probably, end the struggle between rags and money,and force the practice of a domestic economy, which will bring the latter to the value that it had ten or twelve years ago.

But there is not any necessity for a suspension of specie payments by many, if by any, of our old fashioned banks, unless there is a necessity that they should make a certain profit on their business. Common Sewer of Speculation. There are ebbs and floods in every man's affairs; and few there are that have not been compelled That banks were originally designed for the pub. sometimes to draw upon the profits of a former year lic good, and have greatly promoted the interests to meet the pressure of a present one. Why should of many, is undoubted; but that they have generalnot the banks do the same? ly been perverted for the benefit of a few, and Suppose the capital of a bank is one million-have ruined their tens of thousands, is equally cerand that, prudently and economically managed, it tain. When property was regarded as the basis of can divide a clear profit of 6 per cent. per annum-banks, and banking accommodations-their accomthis is $60,000. The whole amount of its discounts modations were pretty equally dispensed, and the may then be estimated at about $1,250,000. Well evil of their institution had some accompanying -resolved to maintain its credit, it agrees to ap-good to molify it, but none when paper has so much propriate one half its clear profit, or 30,000 dol- become the capital of our banks: property has lost lars, for one year only (for one year will probably the estimation in which it was held, and those esbe long enough to correct the paper system, and [tablishments have (in four cases out of five) be

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