the ministerial papers, it appears very evident and power to do injury, we feel ourselves called that the queen has completely discomfitted her ene. mies. Addresses were still pouring in upon her, and the people seemed to be more and more indig. nant at the proceedings had against her.

upon to offer a few remarks on the several points urged in the memorial, and to state our reasons why they should, or should not, be granted,—as it is the right of every citizen to do.

services of men who are best qualified to administer its affairs," &c. and a repeal of the provision is requested. But the bank has no objection to the clause which forbids the re-election of more than three fourths of the directors in office at the time of an annual election, &c.

The chevalier Carlo Fassali, who seems to be an 1. The charter, at present, provides that no direcItalian of great respectability, gave the following tor, except the president, shall be eligible more account of Bergami. "Bergami was received at the than three years out of four-which, it is said, has tables of the families of distinction in the neigh-in practice been found to deny to the bank the borhood of Pesaro. I was with the princess at Munich. I remember when her royal highnes and suite dined with the king of Bavaria. Bergami dined at the king's table. I saw civilities passing between the king of Bavaria and Bergami. He treated Bergami with the greatest affability. Bergami after this, received a present from the king. We trust that this request will not be complied It was a gold snuff box, surrounded with brilliants. with: if it is, one of the strongest barriers which The man who brought it to Milan shewed it to me discretion contrived when folly prevailed to charter beforehand. He afterwards told me he had deliver- the bank, will be broken down. No doubt, the reed it to Bergami. I saw it after this in the posses-striction may deny to the institution, in some cases, sion of Bergami."

A spirited debate took place in the house of commons on the 17th of October, in the course of which, Mr. Creevy, supported by loud cheers,

the services of men best qualified to administer its affairs—but the same sort of argument may be as successfully used in support of legitimate princes and presidents for life, with the right of nominating averredtheir successors in office. It is proper that all men "So help him God, he thought the queen as in-vested with power, should occasionally return to nocent of crime, in this particular, and in all others, the people, that their secret proceedings may be as the most spotless female the world has ever pro-reviewed by others and exposed, if the public good duced-(continued cheers.) He did not believe requires it. This provision is a great check to that there was one word of truth in all that the mi-abuses,-it reminds the directors of their responserable Italian's had been bribed and persuaded to sibility, and teaches them that their most hidden swear. The next allegation, on account of which things may come to light, through the justice of all England had been put in motion, was that the some one fresh and unpolluted from the body of conduct of the queen had degraded the character the stockholders. The effect which would follow of the country; that the morals of the nation were a relinquishment of this principle, is clearly seen at stake and a fastidious court, so pure in itself, in the almost universal condition of our local bank. and so anxious for the purity of all the rest of man-ing institutions; in which, after the first elections kind-(cheers)—was to drag the British parlia-under their charter, it is perfectly known that the ment through the dirt and filth of this enquiry, to stockholders have little, if any thing, to do with the divorce and degrade the queen, under pretence choice of directors:-petty combinations of those that the national honor has been tainted and sullied who are in office electing themselves perpetually, by her deportment. Most fortunately for that na-and such others as they please-sometimes in open tional honor, not a single English witness had been opposition to the manifest will of a large majority called, who did not swear that, so far from degrad- of those who ought to make the choice. This is ing the country, they had never seen in her conduct brought about by the special interest which the any thing in the slightest degree indecorous or de-combined forces feel in keeping their authority, in rogatory."

The famous William Cobbett has published a long letter in reply to the opening speech of the attor ney general against the queen-he says that, if what is said about her "is true, then HUMAN NATURE IS A LIAR." In his peculiar way, he ridicules the story of her "sleeping with Bergami every night, lolling upon him and hanging about his neck by day-more love-sick than any girl of sixteen ever was unable to live out of the sight of her paramour -unable to restrain herself, even before her male servants-living in a state, the bare description of which would excite a blush even in a brothel," &c.

There is no important intelligence from the continent, except certain circumstances that gave rise to a belief that the Austrian troops would not attack Naples.

Bank of the United States.

In our congressional proceedings last week, page 235, we inserted the substance of a memorial from the bank of the United States, asking relief and protection in certain cases. We now give the memorial itself, to shew the argument used by the bank in support of the things asked for. Ever fearful of the movements of this tremendous ma. chine from an apprehension of its natural disposition

the facilities afforded them to obtain proxies, purchase shares, (if necessary), and manufacture votes, together with a just apprehension of their power in those who need accommodations. These truths are known to every one who has looked at the way in which bank directors are made, though fully understood only by the initiated. As to the provision that one fourth of the directors shall go out annually, it is rendered ridiculous by the usages of banking institutions. The design of the law is, that the ruling power of the bank shall be partially changed every year; but this design is made a mockery of, and the provision becomes a dead let ter, as to its intent and meaning. Those who conspire to keep themselves in office, agree on the election of certain persons whom they elegantly call "yearlings"-men that they are sure will not interfere with their views, or resident at such distances from the bank that their attendance cannot be expected-and these are put in or put out, annually, that the charter may be preserved inviolate! Persons resident in distant states, are sometimes made quasi stockholders for this express purpose, when the combination, in going over the list of real stockholders, cannot find enough automatons, or dead directors, to ring the ordinary changes upon. We have no possible reason to believe that the bank of the United States would not fall into the

same course of proceeding. It is the nature of Boul-less incorporations "to feel power and forget right;" to do, in their corporate capacities, that which, as individuals, the members thereof would despise the doing of. A thousand cases might be anentioned in confirmat on of this assertion; but the fact is clearly understood and has oftentimes been acknowledged.

what may not be apprehended, if the bank should interfere in our elections,-zealously support this man, and oppose that, and, if unsuccessful, throw its weight in direct opposition to the administration? This may not appear to be the interest of the bank; but when we recollect that "holy men denounced damnation" on those who lent money to the government during the late war, and know The power of the bank of the United States is the foree and fervor of party, we can easily believe severely deprecated by the wise and good; it is an a sacrifice of interest might be made to embarrass engine of a more formidable nature than any before and derange the public proceedings. There is no known to our country-- competent to dictate pub-prospect just now, of such a political excitement lic measures and private conduct, and yet is irre-as has been spoken of-but let it come when it will, sponsible either to the government or people- and it will one day or another agitate us, the bank and may be above the regulation even of its own will assuredly be a POLITICAL MACHINE. Whether, stockholders, through the contrivances mentioned! as such, it happens to be on my side or against The first election under its charter furnished a me, I shall still hold the same opinion of it-that proof that the minority might govern; and if that it is an unconstitutional institution, and, if constitu minority had been less foolish or less wicked, that tional, that it should not meddle with political afminority would have governed still. The bank is fairs. We are opposed to any authority not derived yet exceedingly crippled through the proceedings from and responsible to the people, and are in fear of these men, its original fabricators, and the sin of seeing the day when the president of this bank gular infidelity of its officers and agents-so that shall, ex officio, become as a member of what is for a long time past it has not made any dividend. fashionably, but curiously called the "cabinet," and But the sagacity of Mr. Cheves-his ambition, in- directly take a part in the administration. These dustry and application to business, will bring forth are not idle fears-but even if they are, we know and exercise the powers of the institution, when-that "caution is the parent of security." The bank ever the time comes in which life and activity is is a public institution, and especially such a one as given to domestic industry, either by a foreign it becomes us to watch over. It is so far removed demand or for home consumption-when money from the people that they cannot reach it, except shall circulate freely, or be freely demanded, for through the few restraints which the charter imthe purposes of trade. Then will the bank "boom poses. Let not, then, any of these restraints be out," as the sailors say, and make known its terms loosened-if we once part with the little hold that of peace with the government, the local institutions we have, we cannot regain it. But chiefly let us and individuals. The time has been when a man keep fast whatever tends to secure responsibility in without a black cockade in his hat, could hardly ex- the directors of this mighty institution. Repeal pect to be civilly treated in a bank of the U. States, the provision as prayed for, and a knot of men will inuch less to be favored with a share of that pub-render their seats permanent, in defiance of almost lic accommodation which it was intended to furnish. The dispositions of men, and the force of party, are the same as they were twenty-two years ago; and it cannot be doubted but that the present bank would conduct itself as badly as the old bank did, if there should be any strong political excitement. The influence of two or three hundred monied men, dispersed throughout the United States, and commanding a large part of the monied interest, located at the most convenient points, and concentrating their force in our chief cities and towns, then rendering a common obedience to the Grand Lama, or parent bank, as the sun of their system-may be more easily conceived than described. They cannot want adherents and underlings-for those who have the command of money will always command them; and they may also dictate their mea. sures to the body of the "commercial interest," a very powerful class of society. As matters work at present, the bank is as necessarily on the side of government, as the bench of bishops in England are on the side of the ministry-for to borrow money is the order of the day, and it is the interest of the bank to lend it. But the circumstances of the times may be changed; and it may be the good pleasure of the bank to oppose the government, with an ability to depress the public credit and obstruct the public means, yet little thought of. At 4. We shall copy the 4th proposition entire to the present moment, many persons are very desir- have it more surely before us. It is in these words: ous of loaning money to the United States, at less "Under the 14th section of the act incorporating the than six per cent. interest; but, as the bank can bank, the bills or notes of the bank originally made render money "scarce" when it pleases, by check-payable or which shall have become payable, on deing its circulation, I verily believe that it has the power to reduce the price of our six per cent. stocks to 80 or 85 per cent. in six months, if there should not be a foreign market for them. With such means,

any coi tingency which can be supposed to happen.

2. The request made for the enactment of a law "to punish fraud, peculation, and violation of trust," appears reasonable and ought to be granted, if it is rightful to legislate on the subject at all. The bank has much reason to complain of such things; for never since the world began, perhaps, was an institution worse served by eertain of its agents. It has been subject to the most foul robberies. If such proceedings can be checked, and the authors thereof brought to punishment, let an act be passed for the purpose. It is true, we are generally opposed to the bank, but would give it its due, and defend it from deeds so injurious to the character of our country and so detrimental to the rights of individuals, as those by which it has suffered.

3. Facilities for issuing small notes are asked for.' a similar request was preferred some time agowe then thought it was reasonable, and believe that it is so still. The labor of signing all the notes of 5 and 10 dollars, which the bank would make use of, by the president and cashier, monopolizes the most of their time and prevents their necessary attention to other important objects. The public safety cannot be in any way hazarded by the plan suggested, and the relief prayed for will certainly be advantageous to the bank.

mand, are made receivable in all payments to the United States, unless otherwise directed by act of congress. Under this regulation, the power of the bank to make its capital available, either for its

own profit or the public good, is greatly abridged. public indignation. Let us suppose an operation The sphere of its circulation is limited to those which may develope the designs of the bank: a places where it is least wanted, and made to ex-gentleman in Ohio owes a certain sum of money clude those where it would be eminently useful; to the United States, which he is prepared to pay while the whole currency of vast sections of the at the office at Chillicothe, in the U. S. bank bills, country is thereby greatly embarrassed." payable at Charleston, S. C. or at any of the rest of Now, I am not a lawyer nor a person very 'cute in the offices. But the office at Chillicothe will not finding out mystery, but have the vanity to believe receive these and pass them to the credit of the that I can mechanically discover the general mean- United States, and the debtor must resort to a broing of common sentences in the English lan-ker, or purchase at the office at Chillicothe, a draft ⚫guage, if there is any meaning in them, at the first on Philadelphia, or some other place, which it will or second reading: but I twisted and turned the agree to receive in satisfaction of the debt! To preceding words several times before I could ex-render this necessity complete, and make the sysactly get them in the order of my understanding, tem of shaving perfect, the notes issued at the Even yet I did not feel fully satisfied with my con- branch in Chillicothe, will be made scarce in the struction, until I met with an intelligent friend that state of Ohio, by receiving them at Boston in payhad been bothered like myself, who had just re- ment of debts due to the United States, so that ceived a decisive interpretation from one of the di- they will be gathered up and held idle, as "eastern rectors of the branch bank in Baltimore, on being funds," for the advantage of the bank, making it a appealed to for an explanation! We now under- long road before they return to that office for paystand it to be the desire of the bank of the United ment, in any shape whatsoever. This is what is States, that the government of the United States called "keeping the notes out;" and surely, by such may discredit the notes of said bank, by refus-management, the bank might so contrive it, that ing to receive them in payment of debts due, in they would be kept out a long time indeed, and so Certain cases or at particular places! "Indeed and that a traveller would have to get shaved in every indeed" we hardly expected this-that a clause state through which he might pass. This is “equalwhich was inserted to give a currency to the notes izing the currency" with a vengeance! We are of the bank, and to which, in reality, it owes the surprised that Mr. Cheves has asked it, for we think currency of its notes, should be considered inju- it must occur to him that the request will not, canrious to the bank. But the reader is not to un-not, be granted-and we suppose he was out-voted derstand that the bank wishes such discredit to be be GENERAL-by no means. This would render its notes, issued at the branch in Ohio, not better in Baltimore, for example, than the notes of any of the specie-paying banks in that state: but would have the discredit to be SPECIAL, for the purpose of selling drafts and making a profit by shaving. This we suppose to be the plain English of the matter, with the lights that we have to discern the full meaning of the proposition. The brief history of the bank of the United States is marked with strange ab. berations: the great thing urged at its institution was, that it would furnish a circulating medium of equal value in all parts of the union; and, without this consideration, we venture nothing in asserting that it would not have been instituted. For some time this matter was effected, the notes, wherever The doctrine held by the supreme court of the issued, being received at the parent bank and all United States, in respect to corporate bodies, reits offices. as par money, equal to gold and silver.quires great care in legislators, and should always But this was found to be inconvenient to the bank,remind them that, when they are dealing with inwilling to reap every advantage of its charter, but corporations, they are "handling edged tools." to yield none, except according to the letter of its The power that, creates may enlarge the powers of bond-and the parent bank, like a cruel step-mo- their creature at will, but they cannot lessen or ther, disgraced the notes issued by her progeny, restrain them, except according to the letter of ordering them, at the same time to disgrace the their charters, without the consent of the other notes of each other: on which the shaving business, party. It therefore becomes them to be exceedor selling of drafts, commenced, at a regular tariff ingly cautious how they relinquish any hold which established by the parent bank, which did very they have on such bodies. Every institution of this well for a time, and while a lively business was sort is presumed to be for the public good as well carried on. Now, however, when very little bu-as private benefit; and especial care should be exsiness is doing, and one dollar is not sent from place to place for ten that used to be, a currency of equal value in all parts of the United States is forced upon the bank, by the payment of debts due We had written thus far before we received to the general government,--it being the law that the annual report of the secretary of the treasury, any note issued by the bank shall be a proper tender There is an evident correspondence between that for the payment of such debts: and it is this equal report and the memorial of the bank, and we are value which the bank wishes to destroy, that it may sorry to see it. But having said so much on this make a profit on the sale of drafts or on persons subject, we must defer any remarks on this parti obtaining what shall be considered par money! Re-cular part of the report until we take it up geneally, it was well to involve the modest request in rally-which we expect to do next week, humbly Stygian obscurity, with the hope of being able to thinking that we can explain some things in relation explain away its meaning, if it should excite the to it which may interest our readers.

by the modest and learned gentlemen "brokers and else," who form the board at Philadelphia, and speak for the institution: thus circumstanced, it may have been his last resort to mystificate the will of the majority. But somebody must understand the proposition before it is acted upon in congress, and the matter must be exposed to the people, naked and bare, divested of all its cant phrases. The provision, that the notes of the bank may be refused in the payment of debts due to the United States, by an act of congress, was inserted for the safety of the United States, not for the advantage of the bank; and is another of the few clauses in the charter intended to stand as guards of the public welfare. The request to enforce it, as preferred by the bank, is unbecoming, if not indecent.

erted to prevent the former from being made a sacrifice to the latter: this is the eminent duty of the faithful representatives of freemen.

Bounty Lands.

Treasury Department, December 1, 1820. SIB-In obedience to a resolution of the house of representatives, of the 28th ult. directing the secretary of the treasury to lay before that house a statement of the number of claims to military bounty lands, for services rendered during the late war, which remain unsatisfied; the aggregate amount of acres necessary to satisfy those claims; and the time when the lands will be ready to be distributed amongst the respective claimants;" I have the honor to submit the enclosed statement from the commis

sioner of the general land office, which furnishes
the information required.

I remain, &c.
WM. H. CRAWFORD.
JOHN W. TAYLOR, speaker house of representatives.
Statement shewing the claims to military bounty lands
for services rendered during the late war.
Single bounty. Double do.

Warrants issued by the war de-
partment prior to 30th Nov.
1820,
Patents issued from the gen. land
office

Warrants remaining unsatisfied Of which there are in the gen. land office, and will be satisfied in two or three months

3,060

Outstanding warrants

2,246 186

Viz. 2,246 of 160 acres is 186 of 320

Acres necessary to satisfy them

Single bounty warrants unsatisfied
Double do. do. 315, equal to

129

359,360
59,520
418,880

5,306
630
5,936

There are lands ready for distribution which will satisfy 7,200 claims.

Gen, land office, Nov. 30, 1820.

JOSIAH MEIGS.

Bank Memorial.

and as a portion of those whose prosperity consti tutes the public good, they respectfully ask the attention of congress to the grievances under which they labor. They ask relief, only if it be found to be consistent with the public welfare; and if it be, they feel satisfied that they will be able to shew to they will, they are convinced, not ask in vain; while your honorable body, not only that their claims are consistent with it, but that they are eminently cal| culated to advance and promote it.

Your petitioners are aware that strong prejudices have existed against the bank of the United States, and certainly there has been abundant cause for more than prejudice against some of the acts which have marked the progress of the institution. Bus these acts have been offensive, not against the puber), but against the innocent and undesigning stocklic or the government, (except as it is a stockholdholders, on whose behalf your petitioners now ask protection, and relief. Offences of inferior turpi tude and inferior public injury, under almost all governments, have been restrained by severe punishments. By the charter granted by the congress of the confederation to the bank of North America, it was proposed to make some of these offences felony, and they were accordingly made felony by several acts of the legislature of Pennsylvania.

But though, in the progressive experience of this institution, one example of infidelity, peculation, and fraud, has produced another, and that another and another, and though it has been defrauded of millions of dollars, it is yet entirely without the preventive protection of effective and appropriate penal laws. Will it be believed, too, that these acts, so injurious to the banks-that these losses, so afflictive to the innocent and suffering stock. holders, have excited against the institution the prejudices which your petitioners now do anxiously deprecate? Yet it is a truth that those are the sole causes of which your petitioners have any knowledge. For they cannot believe that it is considered a crime, at least not in the eyes of that legislature from whom they purchased their privileges, for the stockholders to have associated together, and to have placed their property under protection of the most solemnly considered act that has marked the existence of the government--an act, the validity of which all political denominations of men in the The memorial of the president and directors of the country, (at long intervals of time, giving ample bank of the U. States, and on the part of the stock-room for reflection and investigation), and all deholders of the said bank, respectfully sheweth: partments of the government, have repeatedly and That the institution of which they are managers, solemnly considered and confirmed. The useful. is laboring under several grievances, not only inju-ness of the bank to the government and to the rious to the bank, but, as they respectfully con- country; its purifying effect upon, and sustaining aid ceive, to the nation also, which call for legislative of the currency; its support of the public credit, relief. Some of these arise from the original omis- and its general benign influence on the interest of sion of appropriate legal enactments; others from certain provisions of the charter not suited to the condition and circumstances of the bank, and one of a very important character from a regulation concerning the fiscal receipts of the government of the union. For the remedy of these evils, the stockholders of the bank of the United States can only look to congress. Under the pledges of its sacred faith, and by its authority, the institution was established, and their natural refuge is, therefore, to the national legislature for that relief and protection which the citizen has a right to claim of his government. Of that body they know they can obtain nothing forbidden by the sound policy of the state, and could their interest dictate a request inconsistent with that policy, they would forbear to make it; but it is under a conviction of the justice and correctness of their request, that, as citizens,

every solvent man and every solvent institution in the country, if not readily acknowledged, your pe titioners believe can be satisfactorily shown.

But more effectually to dissipate the public pre. judices, if any remain, your petitioners entreat your honorable body to enquire who now are the persons really interested in this much injured institution? They will be found to be, with few exceptions, original subscribers, who have continued to hold their stock, alike ignorant and innocent of the frauds to which their interests have been a prey, or they are unfortunate purchasers, who, deceived by the false appearances which the affairs of the institu tion exhibited, gave an advance of from 20 to 50 per cent, on their purchases. Among those now interested, are all classes of human helplessness, and among the funds involved in the fate of the institution, are those of charity and religion, to no

inconsiderable amount. Of these facts, your peti- [proceedings of congress, Weekly Register, p. 235.] tioners are ready to give satisfactory proof to your Your petitioners forbear to enter at this time in. honorable body, and crave to be permitted to do so, to a further exposition of the grounds of their apif they shall be doubted or deemed material. plication for relief on these points, but respectfully Under these circumstances, your petitioners will hope and request that your honorable body will so proceed succinctly to state the particular subjects dispose of the subject as to give them an opportu on which they respectfully request relief and pro-nity of manifesting the justice, as it regards the tection from congress. bank-and the poliey, as it regards the public, of the [For a statement of the requested alterations, see relief and protection which they respectfully claim.

General Statement of the Bank of the United States.

We have a copy of a "general statement of the bank of the United States and its offices,” made in October last. It is presented to us in a tabular form of such magnitude, that no manner of contrivance can get it within the size of our pages. So we have had to take some of the most material things, which, with a few notes added to the "recapitulation," which is inserted in full, may be sufficient for all ordinary purposes of reference.

34,976,958 6311,621,380 04 1,175,905 01 1,135,205 44 1,507,813 75 3,794,267 54

133,119 54

568,973 20

:

2,839 17

35,404 05