Newspapers / The Raleigh Minerva (Raleigh, … / Feb. 28, 1811, edition 1 / Page 4
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If 1 deductions are supportejj .by.jacttk They r prove iV.' -J be Solvency, Indeed the strength of 'the bank of f merit-the fconfidenct f 'v, r'F the- people "-which A itnjoys,; while the Situation AiMke barikVanxt tVe deficiency:' c the preci jl At'o incbilitj , m tne country to suom f ,-'!o thq operation of havi Tp.t are'debt due the bank i s " euiriefU'in'wvor of a continuance of the bai . -, : : ;-- bv.-v. - no ,ar ank that . w vfiinif .rni!i in iiir a i uiirii 11 hith ; inr iiml nie wnrri Mffi$f ifindtiaYp'ptTVbe Touh'd '-in Ihe cdhstitn- Iy'jionJ, '''ifSjr :ere4 callel-pon":?by one of theyep ?jrjianryof tbk.tountrjr J, one whose days had been rispfentat the "plough, remote from courts and wub J ?4rutjconcera in: affairs of -state to d?fint to him i '$?'.9ta&', wrr'theA financial concerns .'of' the United ;&vb simplest $oierjJ!,anding, inform him that the laying : Vind; collecting taxes, .borrowing money and pay- rj.mg th JdebtS oQhC union, were Us financial con cerns. :V:Ahd,as these pd are expressly grant- . .... -, i . , ' . . . . I . . .. 1 .1 ..... ' al ieasuryw In justice 4to ws memory, the tact and others issued by banks whicly hd faded. uukui ircqucnuy iu uc mcuiiuiicu uijuiictci iw uci iiic uuncuuTOi Know me real nom me SDun torgptten. ijorsiri ine-Tnenr:pi oDtaming tne ous-ma the solvent, irom the insoivem, has poj adoption pi the, plan , is not enUrely vhis.irhe far restrained the circulation of the potes of state ungiimt uiii 111 cvcijr iiigc rvclvcu vc bupjr 1 ui 1 uaiiKB wiuiiu ine limus 01 ineir own siaie, as to geiulemen-of the republican part y ; , among those, wno were us earnest supporters, one, most disiin .gijUhed for ability," the ; present Secretary of j(b Treasury, continues its dvocateto the present hou,-..;;-; ; . ' ,;, V,:'.... ' .i'irK.:' In support of the claijnorthe bank for a renewal of its charter, and to the credij of JVIr. Gallatin, I Will here read extracts form his report to the Se nate, March, 1809 The advantages derived by government from the bank are nearly of the same nature with those obtained by, individuals who-lransact business with similar inhtihitions, and may be reduced to the following henlls: .-';'.:' 4-3 1. -Safe kfefiing of public monies. applies not only to money n the treasury, but that in the hands of collectors, and "affords pne of the best se cuiitie.s against delinquencies. . ' ransmmion , of public mf7;i;....fmm one ,4m V (IrostedVwihJt direction ; others with hit I ;?iat -A'' ank 'and 5 the funding systi ,f : Iwins tiff the. same progenitor, ( Alexander S ' :'")oi), and that uhe question of creating this bank " 5'- i Fas the ground ?n which the parties of the Unit- S..v---'4.aj5Ltates ftrst UvuleU-.--. - ThrlMrt!?i nf ihp Knntr Alr tint Avrliwla fnroirfn. i pit "iped to Carigress although V the", word finances" quarter ''of the union to another. ' This is done by ; may, not m loundin the constitution, Congress; the bank at its own risk and expence. ; . v areimis requirea oi necessny ,io provia lor the . i.oucatmor ine revenue, i ne punctuality Tmanagementjbf : tjic ' jfioancial concerns' of ' the i of payments intro'luced by the, banking system, ynfitn, states -w.f fk'x . .- , Jano the taciliiiesoflerert by the bank to importers "S; permit me, npw,)Sir to notice ohiections urged indebted for revenue bonds, are -amongst " the $ u lagainsji the bank from Other quarters and of .a dif-'i catis'&s which have enabled the United Stutea to col- z.r - jr 'Jereju muuiiic yujciuuu now . vaituiiiicu,j prpoa- j if wi an grrat jncuny aria vnin v few lossci IflC ''J'iblynpl intended,, to influence this House, ,bit, targe revenue derived rtjn imfiost. ' v ; ? i hich may have ah iofiuence ..abroad ,v.Geittle-rfl'4jr' Loan. The bank has been eminently use. s v l.men haveohiected to what the v term the foreicrn Tnl in m3Xi.1t.tr thp aflvanrfa. whirh. unHor A'i(T-r tTK :W0ueicerin our iauiraJfromUhci portion of the ent circunistancf were necessary. At one time if " Stock 01 this bank , being held by toreigne.rs; and, government o a e;l it g 6,200,000, exclusively of 'it--, .1 ' X 1 I 1IT-. -L. I - t . ; , ujc ;eiHiciiiaiiijyiii iwaiy Miiu ih, wrignii nas o per ccni. siock original uiscripuon, , ma a Slim f niicgeu aucua, iruiuis anu uiu loncs are en. ; iar. aisposmon 10 accominoaaie nas oeen repeated- him have Iy evinced whenever the aspect-of public affairs system are , ht rendevtd it proper to. ascertain whether new Hanul-. loanx might, if .wanted, be pbuined.' 1 he report then states, that although the banks established under the authority of the states might afford considevahle assistance to the go vernment in its fiscal operations, there is none ers from puicailhg shares ; because at the pe- .which can transmit monies with the same facility ;tuw pi us siawisnmeni our coumry was wiuioutjor to the same extent; none which can aflord capital,-afld. it was an object . rather to invite) so great security agimst any possible losses, or ' r. ".r r-, u' tT.:..j c?l.- . " . .. . ..... jcij;in.apii w uie uimw oui mn 10 repti greater resources m relation to loans. w wor is ;r;-,.kJ-A!:.na'. -law grates of .interest: it eligible that the gorcrnmentshould, in respect Thye enabled them to give more in the market tp its own oneratioris, be entirely dependent on .:" tba6 ittr" citizens could affrd to pay, and they , institutions over which it has no contcol whatever." ; hve consequently purchased- But, if it be a sin I He also nolla -s the objection of foreigners holding have sold stock . to foreigoers, lay it at the right J stnckJjut this he declares Voes not at all events L.?P?fcrand. wben you revile 'the measure, do not t appear, sufficient to outweigh'. mvnifrai imblic . lorget it was one ol Mr. Jetlerson's administrati- pn, who sold to EnglUh merchants in the year 1801 all the 'stock in the bdnk which the United 1 States owned. s . -. - The charter denies to any stockholder, not a ' mideht onheUnited States, a right either of a 'itoie'.iri the"' choice '-of-, directors, or a seat at the . board of directors. And thus divested of any jnv. ; all that the hicke. 'ns r.l imrrrst, I he suggestions .."'js-.tq. interfere in the coacerns of the bank, it re. jef jealousy, or t.ie .af-prchcusions of the uninform- 'i, qu'res more than, human penetration to discover ed 4a assert agau-i t,v iisiurion. For myself '' 'a Br;rapre inaa ordinary jealousy to suspect, ho sir, had I no other kf.ijwltt'ge uf the subject, I ireigners can influence even the affairs of Hie should fi d iv ht ,at o. upon die question of con bank, much less , through .Us agency the ' concerns : .'.Uution.lit v aiul ;.vc it of haiik whii.h Hum. ' if- advantages drtivrdjrm A 1 tncwal of the chut r.' Mr. Speaker, gcniitinen may disregard, but they .canti' dspisr, nor can they destroy this hgh tesiiufutf hich h!le;:.!trestabhshes the uti lily ol t!jc bank, oearv;.,Hora.le testimonf to the upiivht and patriotic s;ni .t i'i which its operations have been con1ur.tcd. I v tc-Mtitiinnial omweiehs J St a -: ,:,3 1 A-I mm . of the country. " ; This cry of foreign influence from the use of -foreign capital is s a modern bug bear Duiing pur revolutionary struggle, our, soldiers' "were : .ilothed ttf4;rmed.v.iiritli'..Cun29 borrowed in . tope our nerves were . hardened, bur sinews st iff. encd, and ;our independence achieved with tlie i sisunce of foreign capital. Yet the heroes and sges of that day suspected not any improper for t feign influence they were bye aad wise, but not "tf pis cunning as our present statesmen who have made the discovery, : ' ' ;r. As to the aliens, traitors and old tories who are conf erntd ig the , direction of the bank the gen tleman is too i genera) in his charge. So far as he lwiil be; pariicujufthe cari be met. . He named but two persons as meriting his denunciation bvan thT reemmended, WfAh.ngton' spproved, and Galhtir,, afttr :v..iuy ,t irs ex(eriMi t. continues to advocate. Tlie shade which been attempt- ea to be cast upon the Lme ol Hamilton as the " progenitor of the bank" must, when examined like every other attack upon it, but add to its lustre. Sir, I shall not attempt to ulogise the name of that great man ; were my feeble powers equal to the task 1 should dctin it unnecessary. Party rancor, which impotcnilf followed him to the grave, cynnot now obscure one ray of that sun of glory which shines upon the tomb of the illustrious dead. T ' . ' . As if aatisfied or fearful that no argument a gainst the bill could be urged which would plau- sibly destroy its claims to support, the - question has been culled a party question. To rally a par ones , and Danitl -Clark, bottuaf New.Qileans, tv round it3 standard, to Excite th pertinacity "Zl Sl e W , sir, know nofperaonally either of these gentle- and awaken the Severity of party ieeling, it has JZ r , V nen. t Mr Jones I understand -Id he a native of . been declared that upon the question of incorpor- ot.N.ewbern ,r ,u!ks k 4$ 1 men Pennstlvania, who, at the peace of 1763. when Greatr Dritain acquired Florida, settled in that ' Country and hss resided there and at New-Orleans j?ver since ; he is declared to be a man of high I cbaracter.lb integrity and honor. ' Mr. Clark has t had A sea as a delegate on this 8oor ; though not native of the United States, he' is as much a ci. ( t n as any of the inhabitants of Louisiana, made . So by treaty, and as - much so as will be the re H ps esentatiVes of the state of Orleans " that is to oe, in foe next, congress. t gainst 111s cnarac ter nothing has been alleged, other than that im potation which the people 01 the United btates - have fixed uponthe character of every man who . has been the friend or associate of .Wilkinson and .' Burr. Let me not ka understood as committint; , ?rinyelf toltbej bpinioa bfllhe guiltof these gentle- vk;rnen..'.I was nor of Burr's jury he maybe guil - ty?-.nor am I of Wilkinson's commiiteeM..he may .; .''. '' ,! innocent t yet i suspicion deeply stains his char ' ' V V Rtter'5 it will take much labor of the tile - to rub it ;tH'yui v'I;,y;d V :j7 "' it :Sillat, sir, let it be supposed that an individu Trvalj'who1 was':unfi:iendly to oUr revolution should i . . hive been chose n' by' those who are proprietors of the bank to a seat m its direction." Would the m V choice be eituer.; new -or criminal f oir,.a person. I i VWhose name is recorded 1 in the proscription sta. f . v tute!of .A state as an " QUI tofy," was appointed .:. ; by -Mr.. Jeffersoa' a ..jdfolricf- judge of the United TtT ''. States. In others ates-;.but particularly in NeV- rYork and. Pennsylvania,- persons j who tore'arms , ?v enelmy Ttt the revol- l itjtjonarjf.war have also been appointed; by'republi .' .... '.can Presidents to offices of high trust. . Why weire (:T'tye jp4-- tories". thus honored and trusted I .: '!-?3llse they possessed integrity and. ability to rZpSftl 1 he'r t?tion$;; Ah4 w bv mi ght S' ' iory be chosen -a director of f bank, if his Tv;J7tSes and" talehts'had galjrted hiitt the 'confidence - -Uthe stockholders?? The choice seems to me to , as pardonable; ih a stockholder as in a r resi .'5'dcnt?pr -is it, sir, that the' republican President ; ,a been jcoh verted into a political Popej and Iras ating this bank, in 1T91, originated the division of parties which have since, existed in this na tion. Until this time, sir, this discovery has not been made. I had understood7a very . different history of the origin of party; I have ' heard, I have read, tor my youth did not. permit me to witness, that at the formation of our present con stitution many persons with different views were opposed to its formation and adopt ign; preferring that shadowof union in which'Tthe' stCas with a rope of sand, were attemped to be bound un der the confederation," to the strength, firmness and unity in which we are knit by the federal con stitufion. Tlie gooiTsf-nse and good fortune of our country prevaited, the constitu-tif.a yas adopts ed, and those who as antif dewlho, had opposed the adoption of the constitution were xH-ganized with vtiy fsw exceptions iimlcr the name of re publicans, in opp')siti6rTand decided uniform hos-' tility to the measures ofths federal fivernmtnt. The r barter to the hnnk llius indeed became with spine , of its opponents a q testion of party, althojigh it rfccivecl the e u ppoit of Hothers-who were anti-tederal. In this party oprwmtion it on ly met the fatejf every other measure, however wise and salutary, originated, and perftctedat that period.55 . . . ' ." , . .; Let us hope, sir, that the blindness end in jus. tice of such rule of action is not again to be re vived. ' : 'Let me now, sir, rapidly' glance at the conse- quences-which are to attend the rejection of this bill. 1 The intercour su between the states and the dealings vofthe. citizens, ol a'Statewith'those of different ports of the . same stale r requireTTcireu lating medium', far above the quantity pf-gold and silver which exists among us, No man contends lb aft he demands of commerce, or even the orch nary transactions ofMndividuals,; can in the pre. eht'sdartity .'of gold ar silver betsfriedoniTith? out the interveniibn-of - banki notes. ; Hitherto, sir, the -notes issued in each state have answered omM4Hhdomestic uses j but Tor the purpose of remitting to, or receiving payment from other have prevented any late frauds and losses except amoHFthe veryninformed-part of the comuni. ty. In these circumstances the known ability of the bank ot the United btates, the receipt of its paper in payment of debts to the United States, has given i, at a currency and credit equal to gold and silver in every purpose of domestic or foreign use, and its frequency among us has so far famil iarized 'all men of business with the notes as if not entirely toi prevent frauds from counte rfeits, at least greatly to diminish the injury. In def stroying this- bank, you are about, sir, to strike all this most valued paper medium out of exis. tence ; to dissolve an ailific'ud capital of the bank 01 the United States of ten millions of dollars, and not merely this capital of the bank of the United btates,' but, by withdrawing from the other banks the very large portion, il not the whole of their specie capital, with which they must part to pay the batik of the U; Stajesy the debts daUy increas ing against them by the receipt of their notes in discharge of individual debts to the bank of the United States, you ' inevitably render the . state banks less able to accommodate, and diminish greatly that portion of the circulating medium t mitted by these banks. Of the distress which' this measure will ccca sion, I need say nothing-the evidences f its ex istence and .magnitude surround you, ad have been already repeatedly pressed upon your atten tion. You are in feet to destroy all confidence in bank paper. Can my constituents know whether the bank note of New-Hamnshire. or Ciebivia which is offered them is' genuine or spurious ? Can they know whether a bank i in credit or in solvent of which they havp nverV before heard ? Yet, sir, as gold and silver is not to "be had, and United States' bank notes will no longer,' exist, yourreduce the people to this dilemma : either they must receive the notes of state banksj igno. rant as they must be in their gcnnineness or cre dit 'r encounter the daily risk of being defrauded, or keep on hand their produceiy In this state of Uncertainty, bank notes must lose theij credit ; will cease to circulate; roust soon depreciate, and a scene of speculation and embarrasment will ensue not unlike those which have heretofore nearly ruined our country. , Mr. Speaker, the present is not a time for dan gerous experiments upon the prosperity of our country. With foiein nations our relations are more than E any other period perplexed. In my apprehension the nations pi Europe with more THmtEBRATE!, pCLtS MNUVVS January 28, 1181. ' ' A' PEARSf)N; fee.'". DION, f He 13 fifteen hands and a half hih . k bayr and one of the most powerful 'andt horses ever imDortcd. He !.- -J.. f0lDW and "perfectio n,, and will r.r ! "1 'Rn h!ti dollars; the season, which may be discwS the 'payment of sixteen dollar. ' .!T 25ta day ofecemher- next; and insure a mare jo be in foal, which vt? charged by the payment of thirty two ddh orbefore the 25th of December next T , M ance; money will be demanded In eVerri? when the properly of the mare is chanl? N. B. Motes .must he sfenl with the ma. me season or insurance. to.!l,; t . dollar to the. groom for each mare. H l'EKr ORMANCE. Tn I TOO ...V,.. .1 .... "utu mice years n t . he n i:. r (and only race that year,)Jie won withEreate,L beating five capital colts. In 1799, he did m appear at all, having got amiss in bis sprini; iraS inn onH woo Cnar Tn 1 t,ri i a 1. r 7" ' ' wneri nvevtirioli at the York spnng meeting, he beat Jonah, fa the stand plates, four miles. On Mnn,la .l; August meaing following, he run for a subsoij. Hon of twenty-five guineas each, for horseZiu ljciiy ui uoscriDers tnree months before mi ning, four miles, and was beaten by Slapban? on Wednesday following, he was next toCamni lor the great subscription for five years old, far miles, beating Barnaby, Sir Harry, and sewri oiner nne norses anu on luesday, he attacked Hamiltonian for the great subscription for sk y ears old and aged horses ; he although but firt years urn, canying o s;one an 10 lbs. and Has iltonian an aged horse, but 9 stone, und notwii standing the superior riding of the celebrated Buckle, allowed to be the best rider in the' king, dom, he beat Dion only a neck. He was M purchased by Mr. Durand, for 1200 guineas, t& carried to Doncaster,5 where he won the goldcif of 100 guineas value, four miles, beating Lori Dailington's Haphazard, Lord Fitzwilliam'iTjj. ny, and Sir H. V. pane's, RichmcndL-Jo travel- uiauone oi w nom we nave advanced in a wa.likc j yins from Doncaster he fell through a bridnui attitude, will have mote foibeaiance and less tun-iso irijurcd his knees, the marks1 oT which ate t "'wi ..w ""visiole, astoentirclydisablehimfortheturf.il meet us with decided, not sveret hbstihtv. And hrii u-.' T. l 'l- l.u. r.t , , " i- m. this time of danger from abroad, while with a non intercourse law in one hand you fetter all ex ternal commerce, sink your revenue juid reduce the value of property with the ether destroying the bank, overturning private credit j destroying commercial confidence, you press with1 the deadly Weight of an incubus upon the cxi rtions of domes tic industry and enterprise. The inevitable effect of these measures must be to turn loose a torrent of overwhelming calamity, the txteht of which you cannot estimate and the force of which you cannot stay. . The consequences are awful-the responsibility seriouslet gentlemen look lo iu Five Hundred Dollars Reward. ADE his escape from the Newbern Jail last uight, where he was confined on the charec ot MURUtlR. All persons are solicited to lend their aid to prevent his final escape, or make dis covery of the means and persons employed by him. Edward linker is about hve feet eiht or nine inches high, slender made, dark complexion, eves and hair,(and lisps in his speech. It is conjectur present concealed inHhe-town in the neicrhborhood in the woods, and that his aim will be to get out of the state in some vessel bound over Ocracock Bar, or tbat he will make lor Washington, Ldenton, Nor folk or AViImington. 1 he above reward will be given to any person or persons who.shall appre hend hind, and a proportionate one to the person or persons who shall give such information as may lead tp the retaking of him, or afford satis- lactory proof of the persons who have had an a- gency in assisting him. to make his escape. v- P. JONES, Sheriff. Wwiern Jan. 2tt 1811. . ' . - For Sale, , - -; THE TRACT OF LAND, whereon I how live, on Rich-Land Creek, containing two hundred acres; whereon h a trood Anble and Peach Orchard, which very "seldom fails to bear fruit in its season., The 'Land 'I suDnose to be one half cut down, and about one fifth of that half, nearly exhausted ; however the Plaister of Paris,' or good North Carolina manure, ;would make it very tertile. i he other hall, which is wood land, I will venture to 'say, is inferior to J none on the Creek. " .. ; ' . ' ". . The situation as to' health and elegance is equal to any in ther county .-Tire houses aftTnol fine,: but convenient, and might, by a small addi. tional expence, be made to look well, and answer, eitherior a public or private life; bein on'rbw en s uoaa, nueen mites and a hall from 'Raleigh," and the same distance from Louisburg. Th price will be low. . ... :ft, '".,':'" '' ' Henry cocke. '" Wake County. Jan. 30. 181 1. 7s7um. t - : r all his running he was remarkable forhishpiti. no horse in the kingt'om having sustained inrtf hard lour mile runs m oflc week with so little jury.ts-, ( ... 7: " : . ' PEDIGREE. DION" was got by Spadilfe, his dam Fsith, br Pacolct, grandam Atalanta, by Matchem, Lasttfj the Mill, by Oroonoko, Old Traveller, (sister! Clark's Lass ofthe Mill,) Mr. Homes' Miss Mate less by Young Greyhound, Old Partner, cock, dam ofthe Lampton Miss Doe, Crofts Bar narb. grandam of the Ancaster Stetliog, Sii Makeless, (Desdemona's dam) Brimmer, Dffl Bierson, (son cf Dodsworth) Burton Barb marc. Spadille was got by iliirhflyernut of Flora, tj Squirrel, her dam Anqmca by Snap Regolift Barlleti's Chdders. &c. v l-'aiih. the dam of Dion, was 'a mare bf the first celebrity asa racer, and afterwards equallftt guished as a brood mare. The Calendars m iflno lao irf i tn- nrrlni .nances of severtl of her. produce,, particularly Marcia and Ves!,(fc former having lost but two out of fifteen four P races, both ol which were won y,0 .ar-'1?' tyn's celebrated horse Haphazard, ffnomsnc terwards beat for the gold cup at roww Sh e also belgonistifrAlonzorfher other good runners. . . X Vesta was onlv beaten once 1H 1804 kiW who. far the Si. Ledger stakes at Doncaslerin 18 where she le.ll a running. In 1805 she won W mong bUier distinguished races) the great f scriptibn for four year-olds at 'York, beaiiDg j M. Mellish's Quid. A ' The celebrity of this horse as a foal getten inferior to no horse in the United States. r of his colts have proved" themselves to be JJ, the best racers of the present day, pwnow Mr. W. R. Johnson's hoise Don Qu'X01 has ran more races and with more succ any horse of the same age in America.- . ill rnmmfnce the first ot A lit. dVHdun ana eno toe nrst oi . . a tew mares; ana aur.r j'' f .j to mart' cx.x. -J.-n.:t-,f,.r fnr n larger nurnix" lurnisu exceuciu ja3iui5-- -- o. ... I pledge my self to pay all due attent.on w a that may be sentjo the horsey and sucni . be left with me. shall, it reoiiiTeu, mh.-- r v:-r,ii.v.,,. Notice, . .j-y: HERE AS my wife. Elizabeth Chaveri has ,': deserted my bed and hoard without anv just-cause, 1 hereby - lorrw alf psons froftv crediting her on my account, as l am determined' to discbarge no debt of her contracting. v - ; 7. , - ISAAC CIIAVERS. ' Granville, Jsn. 11,1111, , ' j l"' ' cgrrr, oats.ani. louw y at u - 'Every attention win Pu7, .p UJW. hut I will not be liable , J ... i i-Zu nroVlfleu n "Any number otmares civ lc v tsturace and food by Mr. Lewis B enn v -.:i n:h.r arsons who have very , t urage in the-aeiglibourhood, . J'ui a very moderate compensation P7 " M fehtion to such as may t?e lett w them regularly carried .tMheMo.w.. ..' ? ::'$ebrumr 1 8,1. 1. . ; -Notice. w ; tuv onwliimf Kavine qualified. ' -'in. n,Mv, Court, as iTi the estate oWKW ,d"fS Q .. . i ; . -.1 .v. caul esta-c ." . persons inaeofea w - .ingtnf" riimK ttr. w- j . ment, and thoscmavingw - - - A- w,a th tmf nresCrioea, . .Jmir thv bred of recovery M LvES.' Virflryv4,.1811, ft
The Raleigh Minerva (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 28, 1811, edition 1
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