Indiana Republican, Volume 3, Number 115, Madison, Jefferson County, 20 February 1819 — Page 2

cral nn! abstract subjects to which the resolution of the house dot a not di. vct their attention. Hut, thus to cempel American stockholders, and the government, to contribute to the possible loss of paviligthe dividends to those abroad, appears unjust. The nearly equal number of directors on this important subject, and the able reasons asi,;ned in the report of the committee against the measure, ouht at least to ha e prevented the precipitate adoption of of the resolution. Ard when the committee find amor;; the t '.even who oted in the affirmative the

r.a;nes of uircriors who haw luvsi constantly and ho:c!y im-acd in the purch'uv v'sf-UiO 01 ni'.nk k, v that of the Uinvho otel in the r.ieative, not o:n has hen :ivri,i:ni l u h.n e kv.lt in t'vo tr.n'.etion, tlu'V are :hn:si irr- sisti!Iv impelled u t!u tonchrion, t!;:U the nu:ivare v. .is ;ulentel more with a umv to enhance the price e.t h.o i -,iK..v : the Permanent leiu fu of tiw histlui-;i,-The practice of discounting on stock to the full amount paid upon the shares appears to have commenced early at t lie parent bank, under the 4th byeliw, which is similar to the 1 5th regulation for the government of the offices, both of which were adopted at the coir, ir.cn cement of the institution. They authorise discounts without an endorser, on the stock of the bank, or the funded debt of the United States, or such other nropcrtv as shall be approved when pledged to an amount sufilcient to secure the payment of the notes. By a statement the Cashier's d tc examination XXVII. It mr:ars t lit tli tal amount cr discounts on pledged stock up to the 30th July, 1 S 1 7, was S, 0.16,932, 6-1 doliars, of which there had been paid at that time 2,815, 66,04 dollars those loans it is presumed were made chiefly at Philadelphia, as the Baltimore loans on stock had not commenced to a large extent at that time. On tfie 25th July, lb' 17, a resolution marked XXXI, was adopted, authorising the oflices to discount notes secured by a pledge at bank stock or funded debt, with a recital that it might be desirable to many persons to obtain temporary loans on such pledges and a form of the pledge was directed to be transmitted, i: is marked XXXII. Thee litres had no endorser and the cl' count wa in fact made upon the credit of the stock. For bv a resolution of the 30th September, 1S17, marked XaXIU. the President and Cashier were authorised, in all cases, to renew those notes when they fell due between discount days, and by the resolution of Kov. 6th, 18 iS, marked XXXIV. the President and Cashier were authorised in all cases when required by the party to substitute the note and hypothecation of the person to whom stock might be transferred and on which loans at par have been made. By the resolution of the 26th August 1817, marked XXXV, discounts to Stockholders were authorised at one hundred and twenty-five dollars per share, upon presenting collateral security fur 25 dollars. The provision requiring an endorser or cobteral security for the ex. ces above the par value was, in many instances, and to very considerable amounts, effectually evaded by some of the largest borrowers becoming endorsers ior each other. The alleged reasons, for the resolution arc, that 13auk shares

had been discounted upon, at one hundred 5 twenty dollars by the local institutions in NewYork, and that it was necessary in order to employ the capital, which hid been increased be-

vnml rheordiuarv means of u- not nn

sin it advantageously, by the ed from a bank doing business all the Russia, having receiv rCn.ntinn nf eleven millions on such an extensive sede, at a- cd orders from their Sove

.1 it. 11-. 'in... .... !, in TT?irfi tt rrMtrn tn rmlrc icnown CO all

Or tilC pUOUC OCOl. 1111- p ac- II)' "Ultl unit man ; it..rtfnfi,.r ninUmnU nnr. wjs nnvions to cmnlov its cap- the Courts of Europe, the re

in fhnnininii of vour commit- it.il. Not an instance hu occur-

1 ytl VUIVI ' -. - 1 , a

tec afford anv justification of red ot a note secured by a la Chapelie, and with that view I he following letter is from f y the' measure and when that pledge of stock being reject, to publish the following dccla- a soucc of great respectability, , s practice was to be urged as a cd. ' ration: Tin: convention of and the facts it contains, so far ? s reason, the directors oucht at On the nth January, i3i7, the oth of October which de- as they are inucpcnclcntf 0.

least to nave occn cdhi-iiv m- . . 1 - I . I . . formed of mi t tee sex .1 . swers it appears uiac m two ti three instances onlv, discounts have been made on the Hmk shares that those notes never were renewed, and that in no instance has anv Bank there discounted on the shares ot the Bank of the United States, ahove their par value. And although pains hive been taken to ascertain the tact, no evidence has been discovered of anvbank having made discounts on stock above its par value. The redemption ofthe eleven millions of public debt was effected by the application of that amount of deposits to the credit of the government, then in the vaults of the bank. Much unfounded and unnecessary complaint appears to have been made by the oilicei s of the Bank against this verv prudent measure. That it disappointed the expectations of those who calculated on receiving interest from the government while thev discounted on m its money, is very probable and verv natural. And it is not surprising that some expedient should have been resorted to, in order to supply another cquivalent source 01 profit. Bat there were other resources besides the stock of the Bank. The Government stock was b:tter securitv, and akho' it wa ; uniformly above par, the directors seem never to have thought of discounting upon if above its par value. They bee; in by ratine: it at 00 dolls, for cverv loc, while they were discounting on their own shares at x ; by a resolution p is-ci 20? h 3d ty 1817, marked AX.XVll, the government stock rated at par, and soon after Bank shares were discounted upon at 125 for evcrv 100, with an endorser for the excess. The committee are surprised to find so little rrood busincss paper done at the bank: and its ofnees, where it was to nave occn reasonably expected that the merchants would have preferred transacting their business. The directors them selves avow that they uniformly gave a preference to stock notes over business paper ; their reasons are contained in their examinations. But when the complaint is, that the bank had it could empl that any business Have been rejected. In July 18 17, that kind of paper, to . 1. . r 1 uic amount or aoout 940,000 aouars, ana in August to about 493,550 was rejected at Philaoe phia; ana 'in Baltimore in

the fact. The com- marked xxxvi) from ami alter n uie ci:;Wiwu.n p e 1

addressed inquiries to the the 20th February then next & in the treaty ot peace ihino- a warm menu to me present h

xral Banks in the city of to the 1st of July to discount vember 20, 1 o 1 5, is consider- orocr o tnm-s in r ranee. Ancl tf

VrL- tt,I frnin the r an- notfs to those Who MlOUkl IMVC cu Y uic ouvtiu-.u """w"' vv""u icaui-ia a.iaiiurr r

1 j 1 - - 1 o vj ! more Capital Ulan nn mrt tli. nnmti.O., Vern. make it n?rpmnfnrv nn frw rl.v; in P-.HM4 hut nlmOSv .

Oy, It IS smCfU.ar .,li;,nr,, tn? x lm r, .r,M-r,aa them to rnvr tn the vvnrhi ns inrnnmifn Atr- th pmnerO I

juiy auout 47000 ana 111 the foreign troops from the internal prosperity of their nobody but the king, and haVAugust about 183,000 dollars French territory, and now that states, and to the awakening ing received nobody. ! v. tie rejected. Ihesc sums there is an end to those mea- of those sentiments of religion So characteristic a step, arc not prccise:y accurate, but feCas of precaution which dc wd nvorality, whoso empire go friendly a visit, aXtheH

arc sufficiently so for general views. Whether the paper was such as ought to have been rejeeted, the committee have no means of determining, iheamounts rejected are probable

re than micht be expectmu uu-mt vr.rw. !w,.i. .ur .Inrlnnicvcnue .uiu iu .v....0 that period. The amount done under tI1.1t resolution small, and it does not appear that such notes have at any time been discounted extensively. (To be continued.) LONDON, Nov. Ldst Acts cf the Congress .f 5cjfrcirx'. The deliberations of t he Congress at Aix-la-Chapclle have terminated, and we now present the ofheial result the last protocol and declarations of the Allied Sovereigns or the ministets, toward; which all t heir consultations tended, a:vi with the signature of which their asseinblv is fmallv broken up, and its illustrious ine;:m:r; dispersed. These documents are interesting in point of ir.rm, as they exhibit the co'iip'ction of the work which hr.s s: long attracted so much attention, but otherwise their contents are modestly expressed. With the partial good which is likely to flow fr m the conferen ces at Aix hi Chapellc, there, is ccrtainlv as little eneral evil .w, a-n.n.M-.t. miMM! i 11k. I'lUl il'H U'lil. tl ' . pUUUJUCU bv C-m o ess, the ihsris anacknosvldecm a:t o; the four Allied Powers, of ti e tranquil state of France, c her fulklmeiit of all her cxis'loir en ragements, of the adequacv ot the pkviges which she offers for their cotnplction, and the con.'ce.uent acknowledgement of tiie propriety cf withdrawing .1 . '1 "! tne arn)v or r:ccuoaiion. jine .in .f France is" then invited to nuke one of the C01 rrress. This invitation is in the second document accented, in his. Soverein's name, by his minister The Duke of Richelieu, whose signature is, of course, ajj1Xct loV the two ensuing acts, whiclt have relation to the lan ncral interest of Europe. The Sovereigns in the protocol and d declaration, both dated Nov. 15, hint at the probability of future conferences for the eood ' Declaration of the Allied Sovereikis. XW that th- mrttr-it? Gf Europe is accomplished, by thc resolution of withdrawing

united as ever did utsuk or tions, principles wnich, m their ot all Kinds are eseuent ; the s even can result, from the meet- application to a state of perma- wines of this yea are better 1 inir of persons who p'-scss, wc Iicnt Pcc, can alone cfTectu- perhaps than the ever were may :-ay conjointly, millions of ally guaranty the independence before; in a vvoil, our ag m;n at their command. Of each government and the culture presents ne most a- :

of Europe, but declare m all continuation and perfection. Kussia; to our mcnarcli. inesc s their dealings with each other, 'fhey solemnly acknowledge, two sovereigns came to ojV. and in their decisions on the that their duties towards God to pay a visit to the king.

anneals of those tioucrs whirh and the neonle whom thev 20- kine of Prussia remaining .

UIU.IIIVV. ' I IV, T 111 Uv C5 . - , ...v"j,...-...i uiv - - ;

plorable events bad rendered necessary, the ministers and plenipotentiaries of their Majcities the Emperor of Austria, the King of France, the King of Great Britain, the king of

Prussia, and the i.mpcror fi suits of their meeting at Aix---y " , rnrrl tiirrcio. as the acconiplishmcnt ci the work ot peace, and as the completion of the political system destined to ensure its solidity. The intinute

union csrauiisneci among tne ne considers present or in posMonarchs, who are joint par- pect for it. ties to this system, by their Extract of a letter from Fnnc; own principles, no Ier than by dated the $tb cf Nov. 1 8 . 3thc intcrc ts of their people, You are not ignorant that offers to I'urop: t fie most sa- the negociation.s at Aix-IaChi

. II I f cr: i nieJe or its luturc tranquility. Tire ohject of this uidon is as simple a; it i threat and sdut iry. Irdoe3 not tend to anv ruw v liricil combim1 i ? tion to anv c'nnzc in the re I alio is sanctioned bv existing trcatie'. Cairn and consistent in its proceedings, it has no other object than the maintenance of peace ; and the security of tho-c transactions on which the peace was founded and consolidated.

The sovereigns, in forming think it may be boMy assertthis august union, have re- ed, that at 120 time has tnerc garded as its fundamental basis, been seen in Kuropu more u-

thcir invariable resolution ne ver to depart, either amona: themselves, or in their relations with other states, from the strictest observations of the principles of the rights of nastabihtv of the general asocia . O tion. loiithful to these princiPcs the sovereigns wiil main. tain them eauallv in those meetings at which thev mav be personally present, or in thoe which may take place among their ministers, whether it shall be their object to discuss in common their own interests, or whether thev shall take ctvnizance of ouestions in which olhr governments shall formally claim their interference. Ihe same spirit which anect their councils, and reign in their diplomatic communications, shall preside also at these meetings ; and the re-P-so of the world shall be constantly their motive and their -"- is with such scntin.tnts that the sovereigns have consummated the work to which they were called. They 'i'1 t cease to labor for its amnle of iusnre. nfrnnmrrl moderation; happy in the power of consecrating, from henceforth, all their efforts the protection of the arts of peace, to the increase cf the

fs.cen ,but ?f mtud bled by the misfortune of the times. Aix-la-Cnapelle, Nov. 15, 18 iff. Signed,

8 lueucrnuu, narucnuerr Richelieu, Rcrnstorf, Cistlercaby Ncsselrodcy Wellington, Capo Distrl From the National IntelU?encer t1 . ' , -i not assent to t h(!mloririrr whirA o his ardent feeling has given to circumstances, they will at last . join him in wishing for his country all the happiness wlich X I M ... . pcue, reiaii'e to r ranee aie ici. initiated, and in the most sati. factory manner. 0 The subjects of the deiibestion between the rninisiersot the live powers are not geneal.

lv known, and no creci: ou(ht i

to be pbeed in the revekrhrs tliat arc to be found in cenain continental newso:-.pers. It appears that an in'anible soirit of mode' ation aru iutice has cresided at all tiie lelioeratiop.s of tiie Gonre nammous desire z maintain peace and secure gcd order. As for ouiseivj, heaven f appears to ble-s us. Very soon we shall loose of the last foreign bayonet. Our crops vorable result, au cur trau" ' the most ilatterin prospect. . Our foreign flations will now take a deveipemeut pro portioned to our 'es urces and our power. Qui internal politics are more can everyday, and lose that warhth and that acrimony which our national character cannot bng allow of, excent in the lovct classes o socictv : in the rlicst classes, education, and acertain moderation, jrencralK the fruit of good breeding, mites m some measure the mot contradkiory opinions and characters. ltds true that tie wisdom of the king is a gcit promoter j of reconciliation between t ha parties. You will heir, no doubt with a great dei of pleasure, of the testimony cf regard paid j by two great prhecs (the kim of Prussia and tie emperor of emperor nf oSrh of rVtrsW nt nYlock in the afternoon, dined with the kinrr and his family, at tn after n nrivntr- rnnvrrsatioJi witli his majesty, left Paris tb same evening, having visit d

n 11 h

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