Слике страница


tered banks of Scotland, representing the propor issues of the bank of England, the credit of which tions which the quarterly averages bear to each is fortunately unassailable by the influence of simiother, of the respective circulation of each bank, lar circumstances, must have a tendency, by dimiat three corresponding periods; the scales by which nishing the amount of the paper currericy, to raise the circulation of these banks is thus shown, estab. the value of the whole. lish the degree of the proportionate variations in This, in the opinion of your committee, was one each respectively; but it is to be observed that those of the effects produced by the rapid contraction of scales, being constructed upon different data, afford our currency in 1816 and 1817; and to it may be as. no means of comparing with one another the actual cribed, in part, the fall in the price of gold, and amount of their respective issues.

the favorable state of the foreign exchanges during Last qr. Third qr. Last qr. that interval.

1813. 1816. 1818. Such contraction is an evil to which the system of British linen company 1,400 910 1,265 country banks, resting upon individual credit, may Bank of Scotland 8,773 6,720 8,178 be occasionally liable; but your committee are inRoyal Bank

751 267 1,131 clined to hope that it will not be likely either to As a very large part of the currency of Scotland prevail to the same extent, or to endure for so long is furnished by those banks, it must be inferred a period, when the fluctuations to which an incon from the preceding scales, that whatever was the vertible paper currency is cxposed, shall be check. amount at the close of 1813, not less than one-third ed by the operation of the plan which they reconi. had been withdrawn from circulation in 1816, since mend for the gradual resumption of cash payments. which period an equal amount has been re-issued. Whether it may be practicable further to provide

A fluctuation, corresponding with this in point of against inconvenience to the public and the loss to time, and at least, equal in degree, appears to have individuals, which arise from the occasional insol. taken place in the paper issued by the country vency of country banks, and to make such provi. banks in England. The number of these establish-sion, without an interference with the rights of pro. ments licensed in 1814 was 940; in 1817, was 752. perty, and the transactions of the community found.

Mr. Lloyd stated, that the circulation of the coun- ed on commercial credit, are questions of great diftry banks was at its highest in 1813 and 1814, but ficulty, respecting which your committee could not, was considerably reduced in 1815, and the begin- without further evidence and considerable delay, ning of 1817; and being asked as to the amount have enabled themselves to submit an opinion io outstanding at the latter period, when compared the house. with the former, he answered, “I can hardly say; I Your committee have foreborne from entering should think it was reduced nearly one-half." into any reasoning upon the effect produced upon

Your committee were furnished, by Mr. Stuckey, the value of our currency, by variations in the nu. with the following scale of the circulation of a con- merical amount of the notes issued by the bank of siderable country bank, for the last four years. England. So many circumstances contribute to af. Marchi 1816

fect that value; suçli, for instance, as the varying 1817

12 state of commercial credit and confidence the fluc. 1818

16 tuations in the amount of country bank paper-the 1819

174 different degrees of rapidity with which the same and further information on the same subject will be amount of currency circulate at different periods found in the evidence of Mr. John Smith, a mem- that your committee are of opinion, that no satisfacber of the house, Mr. Samuel Gurney, and Mr. Gil. tory conclusions can be drawn from a mere refer. christ.

ence to the numerical amount of the issues of the Whatever may have been the diminution in the bank of England outsianding at any given time. amount of the circulation of country banks in 1816 May 6th, 1819. and 1817, it was not in any degree caused by a diminution of the issues of the bank of England. The circulation of country paper is liable to be affected

Post-office Establishment. by want of confidence, generally brought on by ex. The following is a statemeut of receipts and er tensive failures in some of those establishments, penditures of the general post office, from the first and the result of which is, that other country banks, day of January, 1814, to the first day of January, however solvent, participate more or less in the 1819, viz: general discredit, and are obliged to restrict their Cash remaining on hand, unexpended, issues, from a regard to their own security.---In the Jan. 1st, 1814,

$71,264 94 opinion of Mr. Tooke, “A like effect is sometimes Cash received in the year produced, and in a much greater degree, from the 1814,

$340,906 37 discredit of their customers, to whom they are in Do. 1815

643,443 97 the habit of advancing money; most of their custoin. Do. 1816

759,743 33 ers being holders of articles which are likely to be Do. 1817

722,232 74 affected by a general depression of price”.

Do, 1818

711,880 69 Although there may be reason to infer from the opinion of the witnesses moyt conversant with the Receipts of cash in the years 1814, 1815 management of country banks, and to whose evi. 1816, 1817, and 1818

3,378,207 10 dence your committee beg leave to refer, that a reduction in the amount of the notes issued by the

3,149,472 06 bank of England would speedily and necessarily be Expenditures in the year followed by a proportionate reduction of the coun 1814

S545,215 88 try bank paper; still it inust be very obvious, that, Do, 1815

412,214 90 independently of that cause, the latter is liable to Do. 1816

601,330 14 a sudden and highly inconvenient contraction, im- No. 1817

669,501 13 der such circumstances of distrust and difficulty as Do. 1818

729,137 70 occurred in 1816. The effects of this contraction, upless obviated by a corresponding increase in the

3,057,399 75





Payments made to the trea. suury during the same pe.

A Dutch paper mentions, that about 5,200,000lbs. riod

379,340 44

of wool is annually obtained in Holland; and that of Aggregate of expenditures and of mo.

this quantity, about 2,300,0001s. is manufactured neys paid into the treasury for five

in that country year's, ending Jan. 1, 1819 3,436,740 19


It seems to be an accepted fuct in England, that Leaving a balance in the general post

"Alexander the deliverer" is resolved to depose the office on 1st day of January, 1819,

present king of sweden-late marshal Bernadotte. of

$12,731 85 it is said that he offered him a Russian government The aggregate amount of net revenue, from the on the confines of Asia, with a revenue of 250,000L origin of the establishment up to 1st January, 1818, sterling per annum, which Charles-Jean refused to as far as the same has been ascertained, after deduet- accept of. We have yet to hear what effect this ing the compensation to postmasters, cash paid for project of Alexander will have upon the rest of the the transportation of the mail, and all contingent "legitimates." and incidental expenses, is estimated at $1,588,265;

BARBART POWERS. the aggregate of payments into the treasury amount The plague rages est:nsively on the coast of Bar. ed, on the 1st day of January, 1819, to $1,181,728, bary.-400 persons per day are supposed to die off leavmg $406,536, which constitutes a part of the at Fez; many at Teutan, Rabat, &c. outstanding debt before mentioned; the net revenue being stated from the quarterly returns of the post A Haytian vessel, the first that ever entered the masters, and not from the balances actually received Baltic, arrived in the sound the latter end of April at the general post-office. The net revenue for the last. year 1818 is not ascertained, the quarterly returns

SOUTH AMERICA. of the postmasters not having yet been all received. A letter from an American, dated at Lima, March

9, informs us that lord Cochrane encourages desor

tions from neutral vessels-that four men belongForeign Articles.

ing to the Flying Fisli, of Boston, having stolen one

of her boats, and entered in his ship,-on applicaFrom a Paris paper. The present population tion being made to him for their restoration, his of Europe, amounts io 177,221,600 persons, scatter- lordship even refused the captain of the Flying Fisla ed over 154,450 geographic square miles. This the honor of appearing before him, and would not population, considered in an ethnagraphic point of give up either. This is taking high ground. view, comprehends 53,195,000 Teutonians or Ger Accounts to the 3rd of May have been received Mans, 60,586,400 descendants of the Romans, 45,120. from Buenos Ayres-we learn that a treaty or ar. 900 Sclavonians, 3,718,000 Caledonians, 3,499,500 mist.ce had been concluded on the 16th April, be. Tartars and Bulgarians, 3,070,000 Maggarians, tween the government of Buenos Ayres and the 2,022,000 Greeks, 1,760,000 Finlanders, 1,610,000 agent appointed by the people of Santa Fce and ge. Cimminerians, 622,000 Basques, 313,600 Guistes, neral Artigas, the preliminaries to be settled on the 294,000 Arnauts, 131,600 Armenians, 88,000 Mal- 10th May, which it was supposed would lead to a lese, &c. There are 1,179,500 Jews, 3,607,500 general peace between the provinces lately at variMahometans, and 172,432,500 Christians, of whom ance. The new constitution was printing and there are 98,229,000 Catbolics, and 41,898,500 Pro. would be published in a few days. The acting dia testants. Europe is divided politically into 78 so- rector had resigned, and it was supposed would be vereign states, nominally independent. Their ag- appointed a senator under the new constitution. gregate forces in peace, are 1,600,000; and on the Artigas and his friends are to have a share in the war establishment, 3,600,000. Their maritime force government. It was expected that a declaration of consists of 409 ships of the line-33 ships of 5u guns, war against Portugal would soon be made at Buenos 348 frigates, 1563' vessels of an inferior class. Ayres. A truce with the Mounteneros had been

cifected, and they were prepared to assist against The German papers are quoted by those of Paris the expected expedition from Spain. San Martin and London as asserting, that there is to be another was soon to be in the capital of Chili, lo invigorate Dieeting of the allied sovereigns in the course of the the preparations againsi Peru. The vessels that present year, to be held at-Caricsbad, in Bohemia; went from Valparaiso to Callao had been allowed and the result expected is great changes in the to enter the port. The British frigate Andromache north.

sailed from thence on the 14th of February, The U.

States frigate Macedonian left Valparaiso for Cor Napoleon, is as usual, on the rock of St. Helena-quimbo, on the 3rd of April. sulky," as the English say, because he will not Mc Gregor has arrived at Port au Prince, where lick the band that smites hiin, or suffer himself to he expected to receive further reinforcements and be exposed to impertinent curiosity. Joseph re embark on a new expedition! It is understood, that mains quiet in the United States, improving and ex- his men captured at Porto Bello, had not been put tending his estate Louis has received permission to death, but were retained as prisoners of war. of the Eustrian government to repair to Tæplitz and Dgra, in Bohemia, to use the waters of those places.

CHRONICLE. Jerame is at the court of his father in law. Mac. Dred-at Baltimore, on the 1st inst. maj.gen. Levin Murat is at Vienna, and Mad. Baccioclui had obtain-Winder, in the 63d year of his age, a soldier of the sd liberty to reside at Baden.

revolition, late governor of Maryland, and recently

grand master of maso!is therein. Ate was an amia, It is reported that the emperor of Austria, while ble and worthy man. His body was returned to the at Rome, solicited of the pope to annut the mar- dust from whence it came, with masonic honors; page of his daughter, Maria Louisa and Napoleon, and a resolve passed that the men:bers of the grand that she night be at liberty to wed with the king of lodge wear crape on the left arm for thirty days in Prussia:

respect to his memorya




[ocr errors]

every ich

Hardy Mles, convicted of negro stealing in South ly as black walnuts or.peach kernels. The grest Carolina, has been pardoned by the governor. er part of those he planted are now growing, and

Yellow fever. It is reported that some cases of are found to measure, already, the height of four yellow fever have appeared in Philadelphia. 'We inches. His expectations of complete success are believe that almost

r there are more or founded on the fact, that a fine tree of this species, less cases in all our cities partake so much eighteen years old, is now growing, in full vigor, on of the character of this awful disease, as hardly to Cumberland Island. That tree is a female, and pro. be distinguishable from it. We hope that such are duces a profusion of blossoms annually; but, having the circumstances at Philadelphia and that the no associate, she produces no perfect fruit. disease, if it exists, will not spreal. It rages dread “Of the seeds of the Muscat date, the principal fully at the Havana-sis hundred and eighty fo. part has vegetated, notwithstanding the stories proreigners died of it there, in six weeks, ending the pagated that the selfishness of the Arabs, or the inmiddle of last month!

clemency of the voyage, had, by some means, de. Capt. Synımes! The magistrates of Copenhagen, stroyed their vitality. On receiving the thankful it is said, have received a letter from the North acknowledgments of these worthy citizens for my American visionary capt. Symmes, who will take a instrumentality in giving the Date Palm to Amerijourney into the interior of the earth, if he can ob-ca, I assured them that the praise and honor 'were tain assistance." A similar letter has been received due to capt, Henry Austin only." in many of the cities of Germany.

[To this may be added a fact, within the know? Cotton- It is stated that 208,900 bales of cotton ledge of the editors, that a plant five or sis inches were exported from Bombay in the year 1818; of high has been produced in this city from the date which 158,900 went to England.

seed. When about that height, it was killed by an Emigration. Froin considerable observation of attempt to transplant it.] Var. Int. the arrival of vessels from foreign ports, we are of STEAM POWER. Hartford, Con. Jime 29. Mr. Jenks, opinion, that the present rate of emigration to the of Colebrook, in this state, has invented, and actuUnited States is not less than four hundred persons ally pat in operation, a steam boat, which is propel. per day. The greater part are English, reaching led without wheel, oar or, puddle, or any kind of us via French ports, &c. the rest are chiefly Irish machinery, external or internal., and German.

The inventor has likewise, upon the same prin., Ontario. A letter from a traveller, dated Sack. ciple of re-action, prt in operation a machine by ett's Harbor, June 6th, states that the United which a rotary motion is produced direct from the States vessels on lake Ontario, which were in ser. I boiler, at a trilling expense compared with that of vice during the late war, are fast going to decay. producing it from the common engine. The New Orleans, on the stocks, is enclosed in a NEW HAMPSHIRE MILITIA. From the N. A. Patria. building 230 feet in length, by 90 broad, and 90 From the return of the adjutant general, made on feet high, and is stated to be in a good state of pre- the 1st day of January last, we gather the following servation.

information of the state of the militla of our state: Illinois. The commissioners appointed for the Division and brigade staff.--3 divisions, 6 bripurpose, have fixed upon a site for the permanent gades, major generals, 3 division inspectors, 3 die seat of government of the state-it is in township vision quarter masters, 6 brigadier generals, 6 bri6 north, range one east, sections 8, 9, 16 and 17-gade majors and inspectors. they have called it Vandulia.

Infantry, grenadiers, light infantry, and riflemer, The ullissouri. The steam boat Independence, the 38 regiments and the same number of colonels, liey. first that ever ascended the Missouri, arrived at the tenant colonels, majors, adjutants, sergeant majors, Hourishing town of Franklin, on the 28th of May quarter master sergeants, 35 quarter masters and last, in 14 days from St. Louis.

35 pay masters, 37 surgeons, 38 surgeon's mates, Sales of public lands. A Charleston paper says-345 companies, 358 captains, 336 lieutenants, 33 A letter from a gentleman in Mobile, gives the an- ensigns, 74 drum and tife majors, 1,265 sergeants, nexed items of intelligence relative to the value of 840 drummers, fifers and buglers, 19,715 privates landed property, population, &c. in some of our new -aggregate 22.276. southern territories.

Cavalry.-33 captains and companies, 64 lieuten., At Cahuba, in May, lots sold froin 500 to $5000; ants, 33 cornets, 132 sergents, 61 trumpeters--a. upland, average per acre, 15 to $35.

gregate 1,753. At Tombi zvee, in April, river land per acre, 20 Artillery, 32 captains and companies, 63 lienterto $40~from the river, 15 to 35--choice river tracts, ants, 118 sergeants, 64 drummers and fifers, 862 pri80 to 90. Rise within two years, per centum, from vates-aggregate 1,139. 50 to 100,

Arms, Accoutrements, &c.-37,210 muskets, 37,177 Pensacola, since session, lots sold from 500 to 7000 bayonets, 16,550 cartridge boxes and belts, 16,152 dollars. Rise within one year, per centuri, 500 to bayonet scabbards and belts, 11,952 brushes and 1000.

picks, 38,170 spare flints, 37,570 ball cartridges, Alabama, increase population last year, 35,000-11,000 lose balls, 13,200 pounds of powder, 13,200 supposed increase in 1819, 40,000.

pounds of rifle powder, 1,733 horseman's pistol, I'robable revenue from the Alabama territory, 2,941 swords, 2941 sword scabbar:ls and belts, 10,107 from lagrls, 1819, from 3 to 4,000,000 dollars. knapsacks, 9,285 canteens, 8,259 laversacks, 507

The Date trec. A letter from Dr. Mitchell, datel druins, 570 fifes, 32 bugles or trumpets, 2 brass 4 on the 224 ult, says-i congratulate you on the pounders, 32 brass 3 pounders, 15 jron 6 pounders, success of the effort to naturalize the date-bearing 2 iron 9 pounders, 2 iron 24 pounders, 4 iron 32 palm (Ph.enir Dactylifern) in the United States. pounders, 49 sponges and rammers, 50 ladles and Two ventlemen of Youth Carolina, one of whom wus worms; 44 trail bandspike3, 42 lead aprons, 62 am, a planter near St. Marys, in Georgia, assured me, mimition boxes, 22 tumorils or powder carts, 38 a few evenings ago, that the great object was se. setts harness, :3,006 round of shot and shells.

The seeds of the dates brought from trubia No returns having been received from the second Feliz, by capt. Henry vustin, and forwarded from brigade, ibat is not included in the foregoing cu New York to Vir. Sinchuir, have vegetated :29 teadli. Iculation.


NEW sintes. No. 21—Vol. Iy.} BALTIMORE, JULY 17, 1819. {No. 21—Vol. XVI. Whole No. 411



We respec invite attenuon to the 11th, ing, compared with some members and ex-members number of the address of the Philadelphia society of incorporated companies that I know of; and he for promoting domestic industry, commenced to. had the superior merit of being honest in motive and wards the close of this sheet and to be completed at harmless in conduct. the beginning of our next. It conveys a large mass The crimes against humanity and the most comindeed, of truly valuable matter. The society de- mon principles of honor, honesty and law, commitserves immense creait for the light it has shed upon ted in the U. States during the last five or six years, the true interests of the United States.

make an aggregate large enough to bring whole nations to the gallows, if the amount were divided

into hanging-proportions: by this I mean to say, such Desultory Remarks.

is the vile principle of things almost every where, Privileged ordersincorporationsdrones and leeches that it is the greatness of the villiany which ensures

- maniac-crimes-hanging proportionslit. escape from punishunent. The little scoundrel who tle rogucs and big ones-earing of-disgrace- seizes upon a pair of shoes belonging to another, prodigality and bankruptcy-town houses and coun- to keep his feet from the frost in the winter season, try houses--morally of the paper systen--infamous goes to the penitentiary; but the big one, who plunfact-insolvent lawsdebtors and creditors-robbe- ders the widow and the orphan, and robs labor of ries compared-ordinary and extraordinary times— hundreds of thousands of dollars, to set up a couch, the carrying trade-anecdote of a youthful yan- lay-in his stock of wines and clothe his wife and kee - circulating medium-progress of luxury and daughters with shawls at 500 or 1000 dollars a piece, immoralityears may be hurns, if such please the is a gentleman!--he has only to go befu:e the proper royal will embargo-restric:ivelaus-war-mo. officers appointed to grant him the benefit of the insey plenty, and the people madreturn of peace solvent laws, swear off, and live in future affluence -ils effects.- revival of reason- a doubt whether upon the property of his wife or children-property page were money-- bankrupt banks-discounts on which he himself recently gave unto them. bank notes-bank of the United States incorporated The cold-calculating dishonesty of many men in

t progress and effects-Patrick Henry-new other places, as well as in much-abuseil Baltimore, * ramblings--the beast," destroyed-blowing up of who lately held their heads very high, and assumed a . the stkien"_smanagement-accommodations first rank'in society, is disgraceful to our countryabuses and remedy-Speculation Hull-truh to come and their prodigality has been as unbounded as le ligherceptiona, explunations and exhorta- their mcans of supporting it were mean and unprin#0718-brokers—"course of exchange"-payments in cipled. We have mentioned the case of one bankcoin--the policy to be pursueil-kings and people- rupt merchant living in a bouse so furnished as to fashion, dan dies, anıl dogs.

be worth $200,000 --of another bankrupt whose It may be accepted as pretty good evidence of private stock of wines were worth 7000; and others the happiness of a people, that there is not any have purchased land in the neighborhood of our privileged order, secular or ecclesiastical, among cities and improved it, so as to have cost them from them: yet these orders may virtually exist, though 100,000 to 300,000 dollars a-piece-and some, not the constitution knows nothing of them, and a broad worth a five-penny-bit, have built palaces in our ciattempt to establish any thing of the sort, might|ties, and insulted the people by throwing open their subject the base scheemer to universal indignation, doors, that the public.-- any body, might travel if not cost him his life. Such orders do exist in the through their rooins, and be astonished at the taste United States by our acts or INCORPOnation, which and splendor with which they were furnished! --And Wonderfully increase the number of drones and so it is, that these very fel. bis who have reduced leeches, operating by a common principle of hypocricy and fraud, like government-priests and he.

Baltimore has been “much abused" by forty or reditary rulers, to avoid a participation in the toil fifty of her own citizens, as well as persecuted by necessary to produce that share of the articles of many persons in other places. It is to these few, unnecessity, or luxury, which their wants require or happily however, men who took prominent places appetites demand.

on public occasions, and who were looked up to for There is no doubt but that acts of incorporation examples, that we stand indebted for all the sins inmay be properly and legitimately granted, rarely puted to us for wild speculation, sheer piracy and a however, to invest irresponsible associations with traffic in blood--the slave trade. Our people, in mmey.naking powers—so may a man take a glass of general, are warni tempered, and never do anything génerous wine: but excess in the former affects the by halves; their heads sometimes grievously err, social body after the manner that excess in the lat. when their heart is right: but they are generous ter destroys individuals. Every thing is seen dui- and hospitable, patriotic and brave, filled with a biomone house looks like two, and a dollar, in the spirit to accommodate and do kind offices for one eyes of the intoxicated, appears like many dollars. another. Yet so it is, that less than fifty persons, When I have seen people drunken with ideal pros-|(of different political sects, but who were esteemeii perity, the result of their management,or reeling of the first rank in life) have so managed their with wine, in consequence of indulgence, I have matters as to cause the reputation of the whole city. often been reminded of the story of a certain ina- to be severely impeached-to give indiscreet anci niac who, having climbed to one of the loftiest peaks illiberal men the opportunity of heaping upon us of the Highlands, on the Hudson, bawled out-at- ill the vilest epithets known to the English lanention the universe!-by kingdoms to the right wheel

, guage; charging 60,000 people with the sins of lesz march." This poor fellow waq quite a rational belihan fifty, in the whole.

Vol. XVI.--23.

the mourning widow and destitute orphan to wretchy manner in which the outhful yankee supercargo edness and want,--who have glutted ileir appetites, served himself

, wino aíroitly cut off a part of die as it were on the heart's blood of honest industry, guager's rod, prerious to the measurement of sonic may yet throw the dust from their carriage wheels liquor that he was about to fnurchase! The ease to blind those they have ruined! It was was not so, with which any one, especially in the United States; a se iv years since then, if a man failed in business, couid embark in this trade, induced hundreds with. except from some well-known and reasonable cause out capital, to go extensively into it, by the aid of for bankruptcy, he was regarded as he should be, paper. Thus-A. bought of B. 50,000 dollars worth anii excluded from all decent company: but now, of coffee, which he shipped, and consigned to the tiianks to the morality of the paper system, if a man agent of soine house in London, at llamburg, &c. In will only plunder to a sufficient extent, he is, if not virtue of this consignment, A. was authorized to carressed, at least tolerated, by the very persons draw upon the biouse in London for upwards of that he robbed! I know a poor mechanic who $33,000 (two thirds the amount of his shipment) humbly solicits an occasional loan of two or three which bills he sold, and at once became a person of hundred dollars for a few days, of a merchant who consequence! As the payment to B. became due, owed him as many thousand-paid by a "whereas'' like operation was again had, and so it went on issued by those who administer the laws respecting until A. was really worth money, if fortunate, or iusoivencies.

compelled to wind up his affairs, by the loss of his We shall now proceed to make a few remarks credit. In all its ramifications, it is probable that upon the insolvent laws, with a view to some future the carrying trade circulated something which pas. essay or essays respecting them. We are decided. sed as money, or performed its mercantile purposes ly of' opinion, that 110 man can be legally exonerated between man and man, to an amount of not less from the payment of his just debts, except by the 150,000,000 of dollars a year, in the United States: act of his creditors. The unfortunate ought to be with this fictitious abundance of a circulating me. allowed time and freedom of person, to retrieve dium, prodigality increased: take an instance-itis their circumstances; they should not be barrassed less than thirty years since the «quality,” the peoat the discretion of an obdurate creditor, but re- ple who led the fashion, drank souchong tea, which quired to render an account of the state of their our very negro gentlemen and ladies now consider business, to some high and honorable tribunal, at as not agreeing with their delicate stomachs! There fied periods, who should decree such dividends of was a proportionate change in our habits in every the profits they had made, or adjudge such penal, respect, and among all classes. Society certainly ties for inal-conduct, as the laws might ordain. The advanced very rapidly to acquire the ornaments injuries to society, are ten thousand times greater and luxuries of life; and our country was more ex. fron dishonest debtors, than "hard hearted credi-tensively improved, cultivated and embellished, tors," though the latter make so many pretty sto- through the aid of the representatives of money, ries in our novels and romances. It is commonly which the carrying trade created but at an enor. the positive interest of the creditor to deal lenient. mous expense of moral rectitude and repablicon ly with his honest debtor, and such are generally virtue. Every reflecting man, forty years of age; encouraged and strengthened by those to whom will acknowledge the truth of these remarks, and they owe money, instead of being oppressed or im- it is not worth while to enlarge upon them. peded in their progress to obtain a livelihood and When our carrying trade was assailed by the Brie provide for their families. It is only these that de- tish and French our vessels captured on the hig! serve the protection of the law. The moral evil is seas by one, and seized in the ports of their desi. just as great, if I lost a thousand dollars by a man nation by the other, and things had arrived to that that I confidently trusted, and who gambled it away point which the hare apprehended, when he said, or spent it in any sort of prostitution, as if he had that whis majesty," the lion, miglit easily mistake robbed me of it upon the high-road. Nay, it is the his ears for horns, the royal beast having issued am greater evil--because it sours my temper, and order in council or an “imperial decree" against causes me to adopt more or less the dirty rule of borns—the "dong embargo" was laid. Money at dealing with every one as if he were a rogue." this time, appeared to be plenty in the U. StatesThe fact is and it is known to every body, that in because great confidence existed, and vast interna! ordinary times, where one honest and industrious improvements were making, to give it a free circu. man takes the benefit of our insolvent laws, there lation. Besides, it afforded a pretty reasonable exare at least twenty prodigal fools or infamous ras-cuse to our merchants and dealers for not paying cals who “pass through the mill.” I say in ordinary their foreign debts; and though business in our sea. times, that the full force of my remarks may not ports, of course, was very dull, there was not much apply to the present, which are extraordinary, distress-the people easily falling into the habit of through the general effect of the state of trade, bearing and forbearing with one another, and of acand of the “paper system.”

commodating each other; and perhaps, we may ven. The evils which just now afflict the people of the ture the assertion, that the Urated States were inUnited States from one extreme to the other, had proved quite as much during the period of this em. their real origin in what are called the days of our bargo as in any other of the same length which wc commercial prosperity," when the carrying trade, seen. After raising the embargo to gratify, as the as it is termed, took the place of a plain and honora.writer of this then thought and still thinks, a senseble commerce. This trade has been much pursued less clamor, sundry restrictive laws were passed, by the British and ourselves, without much regard which partially operated like the embargo, or caus: to moral justice or a sense of truth. Perjury ed large emissions of paper to represent money and and deceit were held fair, if successful—false oathis fill up the quantity required for circulation. War were made by hundreds in a day, and accepted by soon followed, and then the great disbursements tlijse who adininistered thein, as being "custom.i. for government purposes, &c. still kept money pler. ry." False papers were as publicly trafficked in, ty, as it is called, in most parts of the union, nntila alid advertised in the London gazettes, as bales of little while before all the banks south of the Hudcloth or cotton. But the evils of these things have son, stopped specie payments. In anticipation af fallea beavily upon us and the British after the lit were, of this fatal event, or immediately upon

« ПретходнаНастави »