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THE MARBLE SLAB.
Ad. Ch. To. Mal. Fem.
9 12 3
9 12 3 17th do. to 24th do. 34 42 76 42 34 7th, 53 57 59 | 19th, 55 65 68 24th do. to May 1st, 44 38 82 48 34 8th,
52 57 59 | 20th,
59 70 9th, 54 58
60 | 21st,
74 178 170 348 201 147 10th, 45 50 49 | 22d, 68 77 78
69 74 75 Of the Children-98 are Boys, and 73 Girls. 12th,
45 51 54 24th, 51 53 52 Whites, 303-Blacks, 45—From Alms-house, 27. 13th,
14th, 47 50 52 26th, 55 62 62 The present report embraces five weeks. Deducting 15th, 52 58 58 27th, 55 55 56 the sudden deaths, still born, old age, and casualties, 16th, 54 61 63 | 28th, 54 61 62 leaves from actual disease 302 deaths.
60 69 72 29th, 64 68 66
18th, of the following ages:
52 64 66 | 30th, 64 72 73 Under 1, 102 | Between 40 and 50, 28 Between 1 and 2, 18
50 and 60, 27
THE MARBLE CURIOSITY. 2 and 5, 27
60 and 70, 22 5 and 10, 10
70 and 80, 10 To the Editor of the Pennsylvansa Inquirer. 10 and 15, 7
80 and 90, 15 and 20, 7
90 & 100,
SIR: Much has been written and much more has been 20 and 30, 44
said upon the subject of my marble slab; but nothing SO and 40, 40
348 has transpired that has given satisfaction to my mind.
That the characters are Hebrew, is now generally admit There is nothing particularly worthy of remark in reted by the learned in that language. It would seem that ference to the bill of mortality for the month of April. they must have been either placed where they are now
The general amount of disease prevailing in the City found since the stone was taken out of the quarry and and Liberties, is rather under than above the average cut,-or have been engraved upon the rock at some of the years immediately preceding: With the excep- ancient period of time, and have been buried in it by tion of the Scarlet Fever and Measles, which prevail in the gradual accumulation of its particles,-or they are a limited extent, and a few cases of Small Pox, our city fossil remains in the natural formation of the rock,-or remains free from the presence of any epidemic. Ca they are a lusus naturæ, a mere freak of nature, the eftarris, Pleurisies and Rheumatisms, are generally very fect of chance. Now, let us examine each of these in prevalent at this season of the year-being produced not their order. Have the letters been put there since the only by the wet and variable weather with which it is slab was sawed? If so, by whom, and with what motive? accompanied, but, also, by the imprudence of most in- The foreman who attended the sawing, is a young man dividuals in changing too soon their winter for summer of excellent character, and he is willing to make an cloathing.
oath that they were discovered by him as soon as the
pieces were separated, and he immediately called severDeaths in APRIL, from 1807 to 1830.
al respectable persons to witness the phenomenon. The (Both inclusive.)
testimony of two or three gentlemen is already before Years. Ad.
the public. He had no motive to practice a deception, Ch. To. | Years.
Ad. Ch. To. 1807
the block did not belong to him. Mr. Ramsey, the 111 46 157 1819
117 97 214 1808 96 73 169 1820 130 101
former owner, is a gentleman of the first respectability,
231 1809 80
esteemed by all who know him. He presented it to me. 56 136 1921 126 98 224 1810 96
Besides, an examination of the slab convinced Mr. 124 152 1822
Strickland and Mr. Peal, and would convince any com1811 95 60 155 | 1823 177 113 290 1812 128 77 205 1824 199 143
petent person, that there is no mark of a tool nor any
recent mark of art whatever having been used: the sur152 1825 140 91 231 1814 101 80 181
face of the indentation as well as ihat of the letters is 1826 190 200 390
semi-vitrified. 1815 113 49 162 1827 130 145
It cannot therefore, be credited, that
these letters have been put there since the block was 109
185 178 | 1828
133 318 1817 131 76 207 | 1829
Have the letters been engraved at some ancient pe1818 161 75 236 1830 178 170 348
riod of time, and have they been buried in the rock by Statement of the Birtas in the City and Liberties of the gradual accumulation of the particles of matter? Philadelphia, for the three first months of the from their being in the form of well known characters,
The first part of this proposition appears probable, January, 340 Males, 300 Females.
~from the regular shape of the indentation,-from the February, 297 do 283 do
position of the letters, they being nicely disposed of, at March, 313 do 286 do
equal distances from the top and the bottom of the indentation or eniablature,-from the equal and propor
tionable thicknesses of the letters themselves-and from 950
869 Total of Births for three months-1819.
their being placed at a proper distance from each oth
er: all these, I say, would lead us to believe that they We cannot receive this as the absolute amount of were the work of man; but here the probability of the Births during these months, but only so far as reports proposition ends, for one cannot conceive how the parhave been received at the Health Office; many Physi, ticies of this, which is a primitive limestone, could have cians, it is believed, have not furnished statements, and accumulated so as to have buried the inscription in the it is well known that numerous births annually occur, of solid body of the rock 60 or 70 feet deep, where it was which no reports are ever received.
We may safely found. add at least 100 to the total amount given here, in order
Shall we get rid of the difficulties by adopting either to obtain the proper number which have occurred.
of the other suppositions? I fear not. It does not bear State of the Thermometer, at the Health Office, for April
. rock in which it was found is primitive, in which no fos
the appearance of a fossil; besides, as I said before, the 9 12 3
9 12 3 sil remains are ever found: no plant, leaf, sliell, nor any 1st,
59 57 4th, 44 57 58 thing of the kind have ever been discovered in a work 2d,
46 44 43 5th, 49 58 59 of this character. To say that it is a lusus naturæ, is 3d, 45 50 50
49 56 58 giving very little information; but even this little it is
difficult to affirm, for it implies that it was the effect of cause he thinks he has indentified it with the argillite chance, that is to say, that chance composed two He- of the Cohoes falls and the bank of the Hudson; but brew characters of equal sizes!--chance made for their professor Dewey says that the Williamstown slate apreception a beautifully formed entablature just large pears to him clearly to be primilive. See 2nd vol. Sillienough to receive them!--and chance alisposed of them man's Journal, 248. therein, in order, at equal distances from the top and In page 31 of Professor Eaton's Geological Survey, bottom of the table and from each other! It may be so, published in 1824, he describes primitive argillite; and but it is not easy of belief.
in page 62 of the same work, observes that he had long I am, Sir, your obedient servant,
been a follower of Bakewell in placing argillite in the P. A. BROWNE, transition class, but that after six years' examination
made along more than 200 miles of the range which To the Editor of the Pennsylvania Inquirer crosses the section west of Williams College, a sisted SIR-I observe that Mr. Browne, in the account he by his pupils, he discovered no petrifactions nor an. gives of his curious marble slab, takes it for granted thracite coul, and that he had yielded to the authority that the lime rock in which it was found is a primitive. of Professor Silliman and Col. Gibbs, (good authority)
Now, I would beg leave to inquire, with a sincere de in placing argillite in the primitive. sire to be informed upon the subject, if this is the un "Werner" judges rightly, when he concludes that I doubted case.
will not dispute bis position that if the lime rock If I recollect right, Mr. Browne, in his first letter, in which the slab was found reposes upon a rock (which I have not before me,) presents the following clearly transition, that the lime rock must also be transias the relics of primitive rocks found in this district, tion. Had I been endeavouring to prove that the lime commencing at Philadelphia and proceeding up the rock was primitive, by the single circumistance of its Schuylkill river, viz: gneis mica slate, hornblende, tal reposing upon the argillite, tiis observation would have cose slate, primitive clay slate, and primitive lime rock. carried with it weight. But this writer, who is endearBut upon turning to Eaton's Geological Nomenclature ouring to establish that there is no such thing as primifor North America rocks, founded upon his geological tire argillite, has omitted to notice, that if the lime rock surveys, I find he gives a different enumeration, viz- is clearly proved to be primitive, and it reposes, congranite, mica slate, hornblende, talcose slate, granular formably, upon the argillite, that the primitive characquartz, and granular lime rock.
ter of the argillite is thereby clearly established, Now Argillite, which Mr. Eaton divides into wacke and I did not assert that the primitive character of the lime clay slate, he places in the transition class.
rock was established by the mere circumstance of its I will also call your attention to an observation made reposing upon the argillite: I say that the lime rock by this geologist in page 19 of the same work, where he bears internal evidence of its primitive character, and says "we have no primitive argilite in our district, if or. I rely, among other things, upon its crystalline strucganic remains form the characteristic distinction: neith- ture; upon the total absence of fossil remains; upon its er do I believe there is such a rock as primitive argillite colouring matter being mineral, known by its resisting on this globe."
the power of the blowpipe; and upon the talco-micaIn what I am about to add, Mr. B. and I can have no ceous slate that occurs upon its cleavage. I appeal to difference of opinion. If the argillite which he quotes "Werner" whether these are not irrefragable proofs.as primitive, is clearly proved to be transition, and the As regards the observation of Professor Eaton, that he lime rock in which his curiosity was found reposes upon does not believe that there is any such thing as primithe argillite, the lime rock must also be transition; and tive argillite on this globe, I would remark that in this if the líme rock is transition, then that which has been di-trict we have a clay slate corresponding precise. considered Hebrew characters upon it, may be the fos. ly to the primitive argillite which he describes in page sil remains of some unknown animal. Sed quere.
31 of his valuable work, wbich I would be very happy WERNER to show him; confident, from what I know of his can.
dour, that if convinced of an error, he would feel no hesTo the Editor of the Pennsylvania Inquirer. itation in withdrawing the above, which was at best but Sir I observed in your paper of Thursday last, a a mere opinion. I ain, Sir, your obʼnt. serv't, piece signed "Werner,” in whieh the writer suggests,
P. A. BROWNE. that the rock from which my marble slab was taken, may be transition, and that what has been taken for
PENNSYLVANIA CANAL. Hebrew characters, may be the fossil remains of some unknown animal. To give countenance to suggestion, Mr. Evans, of the city of Philadelphia, from the Comreference is made to the works of Professor Amos Eaton, of Troy, N. York. In justice to this distinguished ge
mittee appointed to inquire into the state and condi
tion of the Pennsylvania Canal, &c.—REPORT: ologist, I will ask the favour of you to publish the whole passage from which “Werner" bas made the ex
That from the shortness of time and the difficulty of tract.
procuring the necessary information, their report must “The argillite under which the granular line rock necessarily be very incomplete. The following is a brief passes near the Massachusetts line is (says Mr. Eaton) representation of the state of the works, according to certainly the very same continuous rock which forms the best information they have been able to procurethe Cohoes falls, and the bed and bank of the lludson
Delaware Division. at Baker's falls to Newburgh near the Highlands. All Mr. Kennedy, the superintendent of this division, rethe intervening rocks lie in a kind of inclined trough in presents that about 50 miles of this canal is complete, the argillite. We have no primitive argillite in our dis- with the exception of a few sections that will require trict, if organic remains form the characteristic distinc. trimming-about 10 or 11 miles are more backward, tion. Neither do I believe there is such a rock as prim- and being beavy sections, will require three months to itive argillite on this globe. This is Bakewell's opinion; finish them.. though I have often changed mine, I now believe he is Of 25 locks on this canal, all are finished except four, correct, and that the vassetting edges of the same rocks which are not begun-one of these, the tide lock at present a mere primitive appearance in all cases, and Bristol, will be expensive and tedious. that this fact has led geologists into ruinous error.” There are nine aqueducts; three of which must be Geological Nomenclature, 1828.
re-built, part of one of them having already fallen down, It is obvious from the above passage, that Professor and the three are so badly founded and so unskilfully Eaton has pronounced the argillite near the Massachus- pile planked and puddled, that they will soon (probaetts' line to be transition, for no other reason than be. I bly) fall, unless they are taken down--ihe remainder of
PORT OF PHILADELPHIA,
the aqueducts are alike defective in pile planking and the water was let into the Susquehanna canal, but of puddling, so that this part of the work must be done shallow depth only and some defects were discovered, over again before the water is let into the canal, or great wbich have all been repaired, and the water would be damage will be done to the works.
let in the beginning of April, and would be fit for naviThe dam at the head of the canal, is in as much for- gation if the pile planking and puddling of the aquewardness, as is consistent with the safe navigation of the ducts did not fail--as this part of the work was done beriver.
fore he had the direction of this canal, he is ignorant Mr. Kennedy, the intelligent superintendent of this of its construction or sufficiency. division, appear's very confident that this canal will be This engineer says that the canal to Muncy ripples ready to receive the water in August.
will be completed in three months. Middletown and Clark's Ferry Division,
North Branch canal. This canal although reported to be ready to receive The committee have received no information resthe water nearly two ycars ago, and has been almost pecting the precise state of this canal. The acting useless ever since, is believed to be in little better con- commissioner on this division, Mr. Mitchell
, promised dition than it was at that time-the great defects con to send a written statement of the state of the works; sisted of insufficient pile planking and puddling at the but this has not been done; for what reason is unknown aqueducts, culverts, waste wiers,&c. and in some places to your committee. bad foundations for the stone work-also, in the em
Western Division. bankments, mitre sills of the locks and in the construction of the aqueducts and waste wiers.
Mr. Stevenson, the acting commissioner on this canal Although several attempts have been made to repair states, that two or three of the locks and at least one of these defects and much has been expended on them, the aqueducts on this division must be re-built-that the yet as they have been under the direction of inexperi- pile planking and puddling are in many instances very enced engineers, little or no improvement has been bad, and that the wooden trunks of the aqueducts were made, and although the water is at this moment letting too short. into the canal, it is not believed that much reliance ean
That the canals, dams, locks and aqueducts, from be placed on the permanency of the navigation until a Pittsburg to Johnstown will be completed by the first radical change is made in the defective parts of the day of September next, when this division will be fit work.
for navigation. It appears that the owners of some of the grounds,
The tunnel at Blairsville will require arching,as from are making encroachments by digging out docks and the immense quantity of stone, gravel, &c. that is frebuilding up ware-houses on the line of the canal and its quently falling, it is very dangerous and occasions fre embankments which may be very injurious to the public quent delays; otherwise it must be abandoned. works. By what authority this has been done, your committee have not been informed, and they are surpri
PORT OF PHILADELPHIA. sed that it should have been done under the eye of the
Inward for April, 1830. board of commissioners without observation.
The dam at the head of this caral was repaired at a great expense during the last summer; but was again washed away by the late spring freshet, insomuch that when the water falls to what is called low water mark, little or no water wlll pass into the canal. The dam at that place must be re-built in a very different manner Ergland,
2845 and of different marerials to be of any permanent advan, South America,
762 tage-although this dam was carried away whilst the China,
390 board of cemmissioners were in session; yet with a French Ports,
748 knowledge of this fact they a'ljourned until the 24th of Madeira,
137 May, without taking any order for re-building it—as the Gibrallar,
299 season will then be so far advanced that it will be very Danish West Indies,
348 difficult if not impracticable to procure timber for re- Cuba,
2 1 489 building it this season. It is doubtful whether it can be Hayti,
390 re-built until another season after the present,
British American Colonies,
1 2 364 Canal from Duncan's Island to Lewisłown. Trieste,
292 Air. Petrie, the principal assistant engineer on this
4 7064 canal, states that it is in good order the whole distance,
Inward, Coastwise.-Vessels 89—Tonnage 8664 tons. except three sections of about half a mile each, and those parts which are contiguous to the aqueducts,
Outward, for April, 1830. waste wiers, &c.--the first are defective from the de. ceitful manner in which the banks are constructed and the insufficiency of the puddling-and the latter from the water getting round the pile planking of the aqueducts, &c. and thereby washing the embankments away. The aqueducts, &c. are all defective from the circum- Engliend,
s stance of the trunks being too short and the pile plank. South America,
528 ing being very bad.
25.3 Mr. Petrie thinks the aqueduct over the the Juniata Africa,
1 145 will be completed by the last of May, when this canal Holland,
292 will be opened for navigation,
145 Cannl from Lewisłown to IIuntingdon. Danish West Indies,
708 Mr. Parker, The principal assistant engineer on this Cuba,
3 1 584 canal, reports that the work progresses rapidly, and that Hayti,
138 unless something not foreseen should happen the water British American Colonies,
3 291 will be let into this canal by the first of November next.
7 54851 Susquehanna and West Branch canals.
Outward, Coastwise. -Vessels 125- Tonnage 10,065 Mr. Rawle, the engineer on these canals states, that I tons.
MISCELLANEOUS. Union Canal. --From the 10th to the 17th of April, | mark down all the rafts and arks that he saw descending, 115 boats passed through the Union Canal, containing we find that two thousand six hundred and eighty seven the following articles
Rafis, and nine hundred and ninety five Arks arrived at tons. cwt. qr.
or passed this place the present season. Many would 3,268 barrels Flour, weighing, 311 8 0 unavoidably escape his notice from passing down the 10,066 bushels of Wheat,
251 17 0 river at the other side of the island, which lies opposite 246 barrels of Whiskey,
30 15 0 this place; but upon the whole, this may be considered Iron,
94 00 0 as correct an estimate as the case would admit of form283,000 feet Lumber, 283 00 0
Harrisburg Rep. 195,000 Shingles,
64 19 0 Plaister,
211 000 Report of the Bank of Pennsylvania to the Stockholders, 305 barrels Fish,
40 17 0
January 30, 1830. 2,180 bushels Salt, 54 17 0 Bills discounted,...
.$3;182,964 39 Merchandize,
135 14 0 Mortgages, stock and other securities Oil, Flaxseed, Rags, Leather,
.1,230,435 90 Butter, Eggs, Limestone, & 124 17 1 Specie,...
454,893 69 Coal, 1
Notes and amounts due from other Banks,.. 901,096 70
3,804 27 Account of articles that passed on the Union Canal
Total, $6,061,989 63 from the 17th to the 23d of April, in 107 boats.--28 empty boats passed during the same time to Middle- Capital Stock,....
2,500,000 00 town, for loading:
Noies in circulation,.
1,111,665 51 tons. cwt, qr. Due other Banks, .
...374,047 36 3671 barrels of Flour weighing, 349 14 0 Due to depositors,..
1,549,338 60 7719 bushels of wheat,
192 18 0 Due to the State and unpaid dividends,.... 238,650 87 1824 bushels of Salt,
48 1 0 Surplus fund, profit and loss, &c.... ..268,234 02 807 barrels of Fish, 107 15 3 Discounts received,..
.20,053 17 659 barrels of Whiskey,
42 7 2 630 bushels of Coal, 22 10 0
'Total, $6,061,989 62 Merchandize,
210 14 0 Plaister,
63 000 Time of declaring dividend and amount, January and Iron,
75 16 1
July, 3 per ceni, half yearly. 354,400 feet of Lumber,
354 4 0 413,000 Shingles,
206 12 1 Dividends. The following dividends have been de. Sundries, consisting of Flaxseed,
clared by the undermentioned Banks and Turnpike Butter, Eggs, Lard, Beeswax, Rags, S105 13 1
Companies, for the last six month: Limestone, Apples, &c.
34 per cent. Schuylkill,
do Account of articles that passed on the Union Canal Philadelphia,
21 do from the 23d to the 30th of April, in 88 boats.---46 Commercial,
do empty boats passed during the same time to Middle-Northern Liberties,
5* do town, for loading.
do tons. cwt. qrs. lbs. Bank of Germantning
3 do 2,824 barrels of Flour, weighing 269 2 0 Germantown and Perkiomen Turnpike *10,435 bushels of Wheat,
261 7 0
$2 on each share. 188 barrels of whiskey,
23 10 0
Frankford and Bristol Turnpike Road 887 bushels bituminous Coal, 31 13 309,700 feet of Lumber,
$2 on each share. 309 14 1 0 Chesnutuki & Spring Hill Turnpike 391,000 Shingles, 195 10 0 0 Road Company,
$3 on each share. 211 barrels of Fish,
28 16 1 12 • This Bank also declared an extra dividend of 10 2,590 bushels of Sült,
74 4 1 25
per cent. Merchandize,
152 9 3 7 Plaister,
The Sunbury Beacon of Monday the 26th April, says: Sundries, consisting of Flax.)
"Not less than from four to five thousand Sund were seed, Butter, Eggs, Rags,
caught on Saturday last within a quarter of a mile beCement, Tallow, Leather, >204 5 1 6 low the dam. Upwards of five hundred were taken by CloverSeed, Marble, Lime
one dip-liet-and several others averaged two and three stone, &c.
hundred each. We understand that several hundred
were caught with dip-nets yesterday.” Tons, 1578 17 2 22 *There were four boats, each of which carried up
The Village Record says "When one of the editors wards of 1000 bushels of wheat, included in this amount of the Record commenced his career, as publisher of which puts at rest the report, that no more than 800 the Correspondent, in Bucks—there was no other newsbushels can pass through in one boat.-Price Current.
paper printed in Bucks, Chester, or Delaware; and but
one in Montgomery! Now, in these four coumties, there Pennsylvania Canal.-During the past week this ca.
are eighteen weekly Gazettes." nal has been in excellent order, there have been from Friday the 23d, up to Thursday, the 30th April, inclu Printed every SATURDAY MORNING by WILLIAM F sive, 29 arrivals and departures. The amount of tolls GEDDES, No. 59 Luenist Street. Philadelphia; where, and at received in that period was $162 55.
the PUBLICATION OFFICE, IN FRANKLIN PLACE, second door back of the Post Office, (back room) subscriptions will be
thankfully received. Price FIVE DOLLARS per annum, payable Susquehanna Trade. --By a statement furnished us by annually by subscribers residing in or near the city, or where our fellow-citizen, Mr. John Bigler, who was careful to there is an agent. Other subscribers pay in advance,
REGISTER OF PENNSYLVANIA.
DEVOTED TO THE PRESERVATION OF EVERY KIND OF USEFUL INFORMATION RESPECTING THE STATE.
EDITED BY SAMUEL HAZARD..
VOL. V.-NO, 20.
PHILADELPHIA, MAY 15, 1830.
BANK OF THE UNITED STATES.
at places remote from the point where it is issued, and (CONTINUED FROM PAGE 295.)
not connected with it by a regular commercial interIII. Having said thus much on the constitutionality and course, there will not exist that easy and prompt conexpediency of an incorporated National Bank, the only vertibility which is so essential to the credit of bank question which remains to be examined by the committee paper. When bank bills are confined to their approis, the expediency of establishing 'a National Bank foun- priate sphere of circulation, a redundant issue is certainded upon the credit of the Government & its revenues.' ly and immediately followed by a run upon the bank for
It is presumed to have been the intention of the Pres specie. This timely admonition is as useful to the bank ident, in suggesting the inquiry as to a bank founded as it is to the community: for it enables the directors to upon the credit and revenues of the Government, to be avoid, with unfailing certainty, an excess equally injuunderstood as having allusion to a bank of discount rious to both, and which no buman sagacity could antiand deposit. Such a bank, it is taken for granted, cipate or prevent, by calculation merely. Whatever, would have branches established in various parts of the therefore, in a system of bank circulation, prevents the Union, similar to those now established by the Bank of reflux of redundant issues, necessarily destroys the only the United States, and co-extensive with them. The adequate security against these injurious, and ruinous great object of furnishing a national currency could not be accomplished, with an approach to uniformity, with But a Government Bank without branches would be out the agency of such branches; and another object, obnoxious to another objection which could not be obvisecond only in importance to the one just stated, the ated. Its loans would be confined to the District of Coextention of the commercial facili of bank accommo- lumbia; or, if extended to the various parts of the Union dations to the different parts of the Union, could not be to say nothing of the inconvenience to which it would at all effected without such agency. If there should be expose those at a distance who obtained accommodasimply a great central bank established at the seat of tions-they would be unavoidably granted without any Government, without branches to connect its opera- knowledge of the circumstances of the persons upon tions with the various points of the commerce of the whose credit the Government would depend for re-payUnion, the promise to pay specie for its notes, wben- ment. It would, in fact, be, for all useful purposes, a ever presented, would be almost purely nominal. Of mere District Bank. what consequence would it be to a merchant or planter of These views of the subject have brought the comLouisiana, or a manufacturer or farmer of Maine, that he mittee to the conclusion, that, if a Government bank could obtain specie for bills of the National Bank,on pre should be established, it would have at least as many senting them at the city of Washington-a place wholly branches as the Bank of the United States, and probaunconnected either with Louisiana or Maine by any sort of bly a much greater number, Few aclministrations commercial intercourse, and where, consequently, these would have the firmness to resist an application to esbills would never come in the regular course of trade? tablish a branch coming from any quarter of the Union, A promise to pay specie at a place so remote from the however injudicious the location might be, upon corplace of circulation, and where the bills would never rect principles of commerce and banking. come but at a great expense, and for the sole purpose The Bank of the United States now employs five of being presented for payment, would neither give huprired agents, in the various parts of the Union where credit to the notes, nor operate as an effective check its offices are established. From this fact some idea upon excessive issues. Whatever credit such notes may be formed of the very great addition which would "might have, at a distance from the place of issue, would be made to the patronage of the Executive Govern
not be because they were redeemable at the pleasure ment by the establishment of such a bank as the one unof the holder-for such would not be the fact; but prin- der consideration. cipally because of the ultimate responsibility of the But the patronage resulting from the appointmentGovernment, and of their being receivable in payment the annnal appointment--of these agents, great as it of al dues to the Treasury. They would rest, there would doubiless be, would be insignificant and harmless, fore, upon almost precisely the same basis of credit as when compared with that which would result from the the paper money of our Revolution, the assignats of dispensation of bank accommodations to the standing Revolutionary France, and the Treasury notes of the amount of at least fifty millions of dollars! The minci late war. These were receivable in discharge of debts almost instinctively shrinks from the contemplation of due to the Treasury, and Government was of course ul- an idea so ominous to the purity of the Government and timately responsible for their payment; yet the two for- the liberties of the people. No government of which mer depreciated almost to nothing, and the latter, ilo' the committee have any knowlıdge, except perhaps, bearing interest, sunk to 20 per cent. below par. But the despotism of Russia, was ever invested with a patthe notes of a central Government Bank, without branch- ronage at once so prodigious in its influence and so dan"es, would be subject to depreciation from a cause which gerous in its character. In the most desperate financonstitutes a conclusive objection to such an institution. cial extremities, no other European government has There would be nothing to limit excessive issues but the ever ventured upon an experiment so perilous. If the discretion and prudence of the Government or of the direc- whole patronage of the English monarchy were contion. Human wisdom bas never devised any adequate centrated in the bands of the American Executive, it security against the excessive issues, and, consequently, may be well doubted whether the public liberly would the depreciation of bank paper, but its actual, and easy, be so much endangered by it as it would by this vast and prompt convertibility into specie at the pleasure of pecuniary machine, which would place in the hands of the holder. Experience has shown that, where the every administration fifiy millions of dollars, as a fund paper of a bank is, by any means, babitually circulated for rewarding political partizans.
Vol. V. 39