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OCTOBER, 1814.
Mr. Jefferson's Library.

H. OF R. manufacturing bullets and shot by compression, lution from the Senate authorizing the Library stating the destruction of certain of his machinery Committee to contract for the purchase of Mr. proposed to have been connected with the steam- Jefferson's library, engine belonging to the late navy yard in this Mr. Oakley, of New York, moved so to amend city, and praying that Congress will take his the resolution as to leave it open to the Library case into consideration.-Referred to a select Committee to contract for the purchase of a licommittee.

brary for the use of Congress. Mr. Yancey, from the Committee of Claims, On this motion considerable desultory debate made a report on the petition of Captain Alex. took place; the purchase of Mr. Jefferson's library ander Sevier, praying remuneration for certain being opposed by Messrs. OAKLEY, John Reed, and losses sustained in the public service, admitting Grosvenor, and advocated by Messrs. WRIGHT, the equity of his claim, but recommending a re- SEYBERT, ROBERTSON, Hawkins, and Forsyth. jection of it on general legal principles.- Laid on The objections to the purchase were generally the table.

its extent, the cost of the purchase, the nature of The report is as follows:

the selection, embracing too many works in forThat the petitioner is a Lieutenant of Marines in the eign languages, some of too philosophical a charservice of the United States. On the 16th October, acter, and some otherwise objectionable. Of the 1812, he was ordered to go from Washington City to first description, exception was taken to Voltaire's the encampment near St. Augustine, in East Florida ; works, &c., and of the other to Callender's Prosand on his way to that place, near Occoquan, his trunk pect Before Us. was cut off the carriage in which he was, and robbed, On the other hand, those who advocated the as he states, of $200 in bank notes, and a check drawn purchase proposed to be made, contended that so in favor of the petitioner on the Bank of Petersburg valuable a library, one so admirably calculated for $200, and all his military clothes. It is stated in for the substratum of a great national library, was the petition that nearly one-half of the money belonged not to be obtained in the United States; and that, to the United States, having been advanced to him for although there might be some works to which public service. The petitioner asks to be remunerated gentlemen might take exception, there were others for the money lost, and compensated for the apparel.

of The petition was before the Committee of Claims at

very opposite character; that this, besides, was the last session of Congress; the committee were then

no reason against the purchase, because in every of opinion that the petitioner was not entitled to relief; library of value mighi be found some books to the present Committee of Claims accord with that which exceptions would be taken, according to opinion. In this case there is no satisfactory evidence the feelings or prejudices of those who examined of the loss of the property; in all cases the kind of evi

them. dence of that fact should be clear, positive, and unin

Mr. Oakley's motion was negatived by the terested. The committee, however, are of opinion that, following vote-For the amendment 53, against taking the claim in its greatest latitude as related in it 87. the petition, sound policy requires that it should be re

ries " The Committee then rose and reported the resjected. When a public agent or officer receives money olution to the House, who took it up. of the Government, he should keep it safe. There are Mr. King, of Massachusetts, moved to amend but few cases in which he should be exonerated of his the resolution by limiting the power of the comaccountability; it is not believed this is a case of that mittee to the purchase of such parts of the library description. They therefore recommend to the House as they should deem suitable to the purpose. the following resolution :

[Mr. Jefferson, in his letter on the subject to Resolved, That the prayer of the petitioner ought Mr. Smith, declines disposing of a part without not to be granted.

the whole of his library.] Mr. Jackson, of Virginia, made a motion to After some discussion, the question on this proprint two thousand additional copies of the in- posed amendment was decided by yeas and nays, structions to our Ministers to treat of peace in by the following vote-For the amendment 47, Europe.

against it 91. as follows: Mr. Grosvenor, of New York, moved to amend YEAs-Messrs. Baylies of Massachusetts, Bigelow, the said motion so as to print these instructions Boyd, Bradbury, Brigham, Champion, Cilley, Cooper, entire, as received from the President, (that is, Cox, Culpeper, Davenport

, Ely, Farrow, Geddes, including the few passages not deemed proper for Goldsborough, Grosvenor, Hanson, Jackson of Rhode publication.)

Island, King of Massachusetts, Law, Lewis, Lovett, The Speaker feeling a difficulty in receiving Markell

; Miller, Moffit, Moseley, Oakley, Pearson, Pickthis motion under present circumstances

ering, Pitkin, Post, Potter, John Reed, Ruggles, SchureMr. GROSVENOR required the galleries to be man, Sherwood, Shipherd, Smith of New York, Stockcleared, and strangers were excluded accordingly. Wheaton, Wilcox, Wilson of Massachusetts, and

ton, Sturges, Vose, Ward of Massachusetts, Webster, The doors remained closed for two hours; when

Winter. they were again opened, it appeared that the mo

Nars_Messrs. Alexander, Alston, Archer, Avery, tion of Mr. Grosvenor was rejected, and that of Barbour, Bard, Bowen, Bradley, Brown, Butler, CanMr. JACKSON was agreed to.

non, Chappell, Clark, Clopton, Condict, Conard, CrawMR. JEFFERSON'S LIBRARY.

ford, Creighton,

Crouch, Cuthbert, Dana, Venoyelles,

Desha, Duvall, Earle, Findley, Fisk of Vermont, Fisk The House resolved itself into a Committee of of New York, Forney, Forsyth, Franklin, Gaston, the Whole, Mr. Lewis in the Chair, on the reso- | Gholson, Glasgow, Goodwyn, Gourdin, Griffin, Hall,

H. of R.
Judiciary of Indiana Territory.

OCTOBER, 1814.
Harris, Hasbrouck, Hawes, Hawkins, Hopkins of Ken- was read twice and committed to a Committee
tucky, Hubbard, Humphreys, Hungerford, Hulbert, of the Whole on Thursday next.
Irving, Irwin, Jackson of Virginia, Johnson of Virginia,
Johnson of Kentucky, Kennedy, Kent of New York,

JUDICIARY OF INDIANA TERRITORY. Kent of Maryland, Kerr, Kershaw, King of North Mr. Jennings presented a petition of the Legis. Carolina, Lefferts, Lowndes, Lyle, McCoy, McKim, lature of the Indiana Territory, praying that a McLean, Moore, Nelson, Newton, Ormsby, Parker, law may be passed requiring the presence of two Pickens, Piper, Pleasants, Rhea of Tennessee, Rich, judges to hold courts; and That the duties of the Ringgold, Roane, Robertson, Sage, Seybert, Sharp, courts of the United States for said Territory may Smith of Pennsylvania, Smith of Virginia, Stanford, be more clearly defined. Strong, Tannehill, Taylor, Telfair, Ward of New Jer

The memorial is as follows: sey, Wilson of Pennsylvania, Wright, and Yancey.

To the Senate and House of Representatives of the Mr. John Reed, of Massachusetts, then moved

United States in Congress assembled, the memorial to amend the bill by limiting the price to be of the Legislature of the Indiana Territory humbly given for the whole of the library to iwenty-five showeth : thousand dollars.

That, by a law of Congress, one of the judges, apMr. STANFORD, of North Carolina, moved to pointed by virtue of the ordinance for the government postpone the further consideration of the subject of this Territory, is authorized to hold a court. Thus, to the first Monday in December next.

one of the judges being competent to hold a court, Mr. Oakley, of New York, moved to lay the may decide a principle, or a point of law, at one term, resolution, and the last motion together with it, and, at the next term, if the other two judges are preson the table.--Negatived.

ent, they may decide the same principle or point of Mr. STANFORD's motion was then also nega- law different. Thus the decisions of the superior court, tived.

organized, we presume, by the General Government, The yeas and pays having been demanded on finally to settle in uniformity the principles of law and Mr. Read's motion, before mentioned, after fur- fact, which may be brought before them by the suitor, ther discussion, the House adjourged without de- may be, and frequently are, in a state of Auctuation; ciding the same.

hence the rights of persons and property become insecure. There is another evil, growing out of the system,

of one judge being competent to hold the superior court, Tuesday, October 18.

or that court which forms the last resort of the suitor Another member, to wit: from Massachusetts, in any Government, and particularly in the Territory; William Reed, appeared, and took his seat. for appeals are taken from all the courts of inferior

Mr. McKim presented a petition of Daniel Ren- jurisdiction in the Territory, to the court organized by ner and Nathaniel H. Heach, rope makers in the the ordinance, which inferior courts are never constiCity of Washington, praying compensation for tuted of less than two judges. Thus the suitor in the their wrought and unwrought materials, which Territory is frequently driven to the necessity of apwere consumed by fire, by order of the enemy, on pealing from the judgment of two men to that of one; the 25th of August last, and which they were but this dilemma only constitutes part of the solecism prevented from previously removing to a place of for the next superior court, as the other two judges safety by the impressment of their vehicles of may, overturn the principles of the decision of their transportation into the public service.—Referred of uniformity in the decisions of the court of the last

at the preceding term. Hence the want to the Committee of Claims.

resort. Anger and warmth in the suitors, and a conMr. Lewis, of Virginia, presented the memo- fusion in our system of jurisprudence, is the result. rial of a number of inhabitants of Alexandria, Your memorialists beg leave further to suggest the stating their indignant surprise at the slanders in propriety and necessity of defining, with more preciscirculation respecting that city, and praying a ion, the duties of the judges appointed by virtue of the full and fair examination by Congress of their ordinance for the government of the Territory. The conduct during the late visit of the enemy to that ordinance says there shall be a court to consist of three town. The memorial was read.

judges, who shall have a common law jurisdiction. Mr. Lewis moved to refer the memorial to the The same instrument points out the way a Legislature committee of investigation appointed on the sub.may be organized; but in no part does the ordinance ject; which motion, after some desultory conver- expressly delegate to the Legislature the power of reg. sation, was agreed to.

ulating when and where the superior courts are to be Mr. STANFORD, from the Committee of Revi, held, or the manner how they are to do business. This sal and Uofinished Business, made a report, in power, by a kind of common consent of the judges, the part: which was read, and ordered to lie on the Legislature have assumed from the necessity of the table.

case, as the ordinance creating the courts leaves it Mr. Pleasants, from the Committee on Naval afloat, without identifying either the time when, the Affairs , reported a bill directing the staff officers place where, or the manner

how, this court is to exerof the Army to comply with the requisitions of that Congress would define the jurisdiction of the su

cise their jurisdiction. Again, it would be desirable naval and marine officers, in certain cases; which perior court. We

presume that it is a sound rule for was read twice and committed to a Committee of the construction of a constitution or a law, that it must the Whole on Thursday next.

be construed from the face of it, and not travel to the Mr. PLEASANTS also reported a bill for the re- history of other times and other Governments in search lief of the officers, petty officers

, and seamen, of the meaning of our ordinance, or any act of Conunder the command of Joshua Barney; which gress. We beg leave to suggest the propriety of point

October, 1814.
Treasury Report.

H. OF R. ing out, by law, what common law the ordinance refers Contemplating the present state of the finances, it is to, whether the common law of England, or France, or obvious that a deficiency in the revenue, and a depreof the Territory over which the ordinance is the con- ciation in the public credit, exist from causes which stitution. If it should be determined that, by the ex cannot in any degree be ascribed, either to the want pression of the ordinance, a common law jurisdiction of resources, or to the want of integrity in the nation. should be located on the common law of England, it is Different minds will conceive different opinions in roessential to define to what extent of that common law lation to some of those causes ; but it will be agreed the judges shall take cognizance; whether the whole on all sides, that the most operative have been the inextent of feudal and gothic customs of England; adequacy of our system of taxation to form a foundawhether the customs, or unwritten law shall be taken dation for public credit ; and the absence even from with the statute law, and that to form the common law that system of the means which are best adapted to to govern the judges; or whether the unwritten and anticipate, collect, and distribute the public revenue. statute law is to be taken in contradistinction to the The wealth of the nation, in the value and products laws, customs, and rules of chancery; or whether it of its soil, in all the acquisitions of personal property, includes that law which is common to all. By Con- in all the varieties of industry,remains almost untouched gress defining the powers of the court, and not leaving by the hand of Government; for the national faith, and them at sea without compass or chart to exercise their not the national wealth, has hitherto been the principal power of judicial legislation, as circumstances may instrument of finance. It was reasonable, however, to arise, or passion or interest dictate, by defining the expect, that a period must occur in the course of a powers of the Legislature and jurisdiction of the court, protracted war, when confidence in the accumulating that collision and jarring which might arise between public engagements could only be secured by an active those two bodies would be harmonized.

demonstration, both of the capacity and the disposition Your memorialists, therefore, pray that you would to perform them. In the present state of the Treasury, repeal the law first herein alluded to, and make two of therefore, it is a just consolation to reflect that a prompt the judges hold the court, and define more specifically and resolute application of the resources of the country the duties of that court.

will effectually relieve from every pecuniary embarrassWILLIAM HENDRICKS, ment and vindicate the fiscal honor of the Government. Speaker of the House of Representatives. But it would be vain to attempt to disguise, and it JESSE L. HOLMAN,

would be pernicious to palliate the diffculties which President of the Council. are now to be overcome. The exigencies of the Gov. The memorial was referred to the Committee ernment require a supply of treasure for the prosecu. on the Judiciary.

tion of the war, beyond any amount which it would

be politic, even if it were practicable, to raise by on TREASURY REPORT.

immediate and constant imposition of taxes. There Mr. Eppes, from the Committee of Ways and must, therefore, be a resort to credit, for a considerable Means, laid before the House the copy of a letter portion of the supply, But the public credit is at this from the chairman of that committee to the Sec juncture so depressed, that no hope of adequate suc. retary of the Treasury, upon the subject of main cor, on moderate terms, can safely rest upon it. Hence,

it becomes the object first and last in every practical taining unimpaired ihe public credit

, together scheme of finance, to re-animate the confidence of the with the answer of the Secretary of the Treasury citizens; and to impress on the mind of every man, therelo; which were read, and reserred to the who, for the public account, renders services, furnishes Committee of the whole House, to whom was supplies, or advances money, a conviction of the puncreferred the report of the Committee of Ways and tuality as well as of the security of the Government. It Means on that part of the President's Message is not to be regarded, indeed, as the case of preserving which relates to our finances.

a credit which has never been impaired, but rather The Letter and Report are as follows:

as the case of rescuing from reproach a credit over Sir : The Committee of Ways and Means have had which doubt and apprehension (not the less injurious under their consideration the support of public credit perhaps because they are visionary) have cast an inby a system of taxation more extended than the one

auspicious shade. In the former case, the ordinary heretofore adopted. They have determined to suspend

means of raising and appropriating the revenue, will proceeding on their report at present before the House always be sufficient; but in the latter case, no exertion of Representatives, with a view to afford you an oppor: quiet, in every mind, every fear of future loss or disap

can be competent to attain the object, which does not tunity of suggesting another, or such additional visions as may be necessary to revive and maintain pointment in consequence of trusting to the pledges of unimpaired the public credit.

the public faith. I have the honor to be, &c.

The condition of the circulating medium of the counJOHN W. EPPES.

try presents another copious source of mischief and Hon. Mr. Dallas,

embarrassment. The recent exportations of specie Secretary of the Treasury.

have considerably diminished the fund of gold and silver coin ; and another considerable portion of that fund

has been drawn by the timid and the wary, from the TREASURY DEPARTMENT, Oct. 17, 1814. use of the community, into the private coffers of indiSIR: I have the honor to acknowledge the receipt viduals. On the other hand, the multiplication of of your letter, dated the 14th instant, and, aware of the banks in the several States has so increased the quannecessity for an early interposition of Congress on the tity of paper currency, that it would be difficult to calsubject to which it relates, I proceed, at the moment culate its amount; and still more difficult to ascertain of entering upon the duties of office, to offer to the its value, with reference to the capital on which it has consideration of the Committee of Ways and Means, been issued. But the benefit of even this paper curan answer on the several points of inquiry.

rency is in a great measure lost, as the suspension of

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H. or R.
Treasury Report.

OCTOBER, 1814. payments in specie at most of the banks has suddenly by law, but either not embraced by a spebroken the chain of accommodation, that previously cific appropriation, or exceeding the sum extended the credit and the circulation of the notes appropriated

$280,000 which were emitted in one State into every State in 6. For a current addition to the sum raised · the Union. It may in general be affirmed, therefore, by loan, or issues of Treasury notes, tothat there exists at this time no adequate circulating wards defraying the general expenses of medium common to the citizens of the United States.

the war

2,000,000 The moneyed transactions of private life are at a stand; 7. For the gradual establishment of a sink. and the fiscal operations of Government labor with ing fund, to extinguish the debt incurred extreme inconvenience. It is impossible that such a during the war

500,000 state of things should be long endured; but, let it be 8. For the contingent fund, to meet sudfairly added, that with legislative aid it is not neces den and occasional demands upon the sary that the endurance should be long. Under favor. Treasury

1,500,000 able circumstance, and to a limited extent, an emission of Treasury notes would, probably, afford relief; but

21,000,000 Treasury notes are an expensive and precarious substitute, either for coin or for bank notes, charged as they II. It is proposed, that, during the war, and until are with a growing interest, productive of no coun- the claims contemplated by the preceding proposition tervailing profit or emolument, and exposed to every are completely satisfied, or other adequate funds shall breath of popular prejudice or alarm. The establish- be provided and substituted by law, there shall be ment of a national institution, operating upon credit annually raised, by the means here specified, the folcombined with capital, and regulated by prudence and lowing sums : good faith, is, after all, the only efficient remedy for 1. By the customs (which cannot be safely the disordered condition of our circulating medium. estimated, during the war, at a higher While accomplishing that object, too, there will be product)

$4,000,000 found, under the auspices of such an institution, a 2. By the existing internal duties

2,700,000 safe depository for the public treasure and a constant 3. By the existing direct tax

2,500,000 auxiliary to the public credit. But, whether the issues 4. By the sales of public lands (which canof a paper currency proceed from the National Treasury

not be safely estimated, during the war, or from a National Bank, the acceptance of the paper at a higher product)

800,000 in a course of payments and receipts must be forever 5. By an addition to the existing direct optional with the citizens. The extremity of that day tax of one hundred per cent.

2,850,000 cannot be anticipated, when any honest and enlight- 6. By an addition of one hundred per cent. ened statesman will again venture upon the desperate on the present auction duties

150,000 expedient of a tender law.

7. By an addition of one hundred per cent. From this painful, but necessary developement of on the existing duties upon carriages 200,000 existing evils, we pass, with hope and confidence, to a 8. By an addition of fifty per cent. on the more specific consideration of the measures from which

existing duties on licenses to retail wines, relief may be certainly and speedily derived. Remem

spirituous liquors, and foreign merbering always, that the objects of the Government are chandise

300,000 to place the public credit upon a solid and durable foun- 9. By an addition of one hundred per cent. dation; to provide a revenue commensurate with the on the existing rate of postage

500,000 demands of a war expenditure, and to remove from the 10. By the proceeds of the new duties speTreasury an immediato pressure, the following propo cified in the annexed schedule, marked sitions are submitted to the committee, with every sen A, making the aggregate

7,000,000 timent of deference and respect.

21,000,000 I. It is proposed, that, during the war, and until the claims contemplated by the proposition are completely

III. It is proposed, that a National Bank shall be satisfied, or extinct, there shall be annually raised by incorporated for a term of twenty years, to be estabtaxes, duties, imposts, and excises, a fund for these lished at Philadelphia, with a power to erect offices of purposes :

discount and deposite elsewhere, upon the following 1. For the support of Government - $1,500,000 principles : 2. For the principal and interest of the

1. That the capital of the bank shall be fifty millions public debt, existing before the declara

of dollars, to be divided into one hundred thousand tion of war, and payable according to the

shares of five hundred dollars each. Three-fifths of the contract

3,500,000 capital, being sixty thousand shares, amounting to thirty 3. For the interest of the public debt, con

millions of dollars, to be subscribed by corporations, tracted, and to be be contracted, by loans,

companies, or individuals; and two-fifths of the capital, or otherwise, from the commencement

being forty thousand shares, amounting to twenty to the termination of the war, calculated

millions of dollars, to be subscribed by the United upon an annual principal of seventy-two

States. millions of dollars

4,320,000 2. That the subscriptions of corporations, companies 4. For the payment of Treasury notes, with

and individuals, shall be paid for in the following the accruing interest

7,400,000 manner : 5. For the payment of debentures to be is

One-fifth part, or six millions, in gold or silver coin. sued (as is hereinafter proposed) for li

Four-fifth parts, or twenty-four millions, in gold or quidated balances, due to individuals, on

silver coin, or in six per cent. stock issued since the account of services or supplies, authorized

declaration of war, and Treasury notes, in the propor


OCTOBER, 1814.

Treasury Report.

H. OF R.

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tion of one-fifth Treasury notes and three-fifths in six appoint seven persons, one of whom to preside, as the per cent. stock.

managers of each office of discount and deposite, and 3. That the subscriptions of corporations, companies, one person to be the cashier. and individuals, shall be paid at the following periods :

13. That the general powers, privileges, and regu20 dollars on each share, to be paid at the

lations of the bank, shall be the same as are usual in

similar institutions; but with this special provision, time of subscribing, in gold or silver coin

- $1,200,000

that the general accounts shall be subject to the in40 dollars on each share, to be paid in

spection of the Secretary of the Treasury. gold or silver coin, one month after

IV. It is proposed, that, after having thus provided the subscription

2,400,000 for the punctual payment of the interest upon every 40 dollars on each share, in two months

denomination of public debt, for raising annually a after the subscription, in gold or sil

portion of the annual expense, by taxes; for establishing ver coin

2,400,000 a sinking fund, in relation to the new debt, as well as

in relation to the old debt; and for securing to the 100 dollars,

specie 6,000,000 public the efficient agency of a National Bank; the 100 dollars on each share, in gold or sil

only remaining object of supply

shall be accomplished ver coin, or in six per cent. stock, or

by annual loans, and issues of Treasury notes, if, unin Treasury notes, according to the

expectedly, such issues should continue to be necespreceding apportionment, to be paid at

sary or expedient. the time of subscribing

6,000,000 i. The amount of annual expenditure during the 150 dollars on each share, to be paid in

war, exceeding the sums provided for, does not admit like manner, in two months after

of a prospective estimate beyond the year 1815; but subscribing

9,000,000 for that year it may be estimated with sufficient accu. 150 dollars on each share, to be paid in

racy for the general purposes of the present communilike manner, in three months after

cation, at $28,000,000. subscribing

9,000,000 2. Then for the year 1815, an additional provision

must be made, authorizing a loan and the issue of 500

30,000,000 | Treasury notes, to an equal amount, $28,000,000.

V. It is proposed that the accounts for authorized 4. That the subscription of the United States shall expenses being duly stated and settled, a certificate or be paid in six per cent. stuck, at the same periods and debenture shall issue to the accountant specifying the in the same proportions as the payments of private balance; and that in all cases, where there has been subscriptions, in stock and Treasury notes.

no specific appropriation, or the claim exceeds the 5. That the United States may substitute six per amount of the sum appropriated, the balance shall bear cent. stock, for the amount of the Treasury notes sub- an interest of three per cent. until provision is made by scribed by corporations, companies, and individuals, as

law for paying the amount. the notes respectively become due and payable.

VI. And, finally, it is proposed to relieve the Trea6. That the bank shall loan to the United States sury from an immediate pressure, upon the principles thirty millions, at an interest of six per cent., at such of the following statement: periods, and in such sums, as shall be found mutually 1. The amount of demands upon the Treasury, excluconvenient.

sive of balances of appropriations for former years, 7. That no part of the public stock, constituting a unsatisfied, was stated in the report of the late Secportion of the capital of the bank, shall be sold during retary of the Treasury of the 230 September, 1814, the war; nor at any subsequent time, for less than par ; to be, on the 30th June

$27,576,391 19 nor at any time to an amount exceeding one moiety, 2. The accounts of the third quarter of without the consent of Congress.

1814 are not yet made up, and the 8. That provision shall be made for protecting the precise sums paid during that quarter bank notes from forgery; for limiting the issue of bank cannot now be ascertained, but they notes; and for receiving them in all payments to the amount to nearly United States.

8,400,000 00 9. That the capital of the bank, its notes, deposites, Leaving to be paid in the fourth dividends, or profits, (its real estate only excepted,)

quarter of 1814

$19,176,391 19 shall not be subject to taxation by the United States or by any individual State.

10. That no other bank shall be established by Con- 3. This balance, payable during the fourth quarter of gress, during the term for which the National Bank is

1814, consists of the following items : incorporated.

Civil, diplomatic, and mis11. That the National Bank shall be governed by

cellaneous expenses,

about fifteen directors, being resident citizens of the United

$353,292 99 States and stockholders. The President of the United

Military, about

8,792,688 00 States shall annually name five directors, and designate Public debt, about

Naval, about

2,382,010 97 one of the five to be president of the bank. The other

7,648,419 23 directors shall be annually chosen by the qualified

-$19,176,391 19 stockholders, in person or by proxy, if resident within the United States, voting upon a scale graduated ac- 4. The existing provisions by law for the payment of cording

to the number of shares which they respectively this balance of $19,176,391 19, may be stated as hold. The cashier and other officers of the bank to be follows: appointed as is usual in similar institutions.

The act of the 24th March, 1814, author12. That the directors of the National Bank shall ized a loan of

$25,000,000 00

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