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and that the committee have leave to report by eral,” was read the second time, and referred to bill or otherwise.

a select committee, to consider and report thereOrdered, That Messrs. Dana, Robinson, Con- on; and Messrs. BRADLEY, Leib, and Smitu of dit, Bradley, and FRANKLIN, be the committee. Maryland, were appointed ihe committee.

A message from the House of Representatives The bill for the relief of the collectors of the informed the Senate that the House have passed ports of Norfolk, Baltimore, and Philadelphia, a bill, entitled "An act to fix the compensation of was read the second time. the additional Postmaster General," in which The Senate resumed, as in Committee of the they request the concurrence of the Senate. Whole, the bill declaring the laws now in force

The bill last brought up for concurrence was in the Territory of Orleans, to extend to and to read, and passed to the second reading.

have full force and effect to the river Perdido, Mr. Giles, from the committee to whom was pursuant to the treaty concluded at Paris on the referred, on the fourth instant, the petition of 30th day of April, 1803, and for other purposes ; Larkin Smith, Collector of the district of Norfolk and on motion, by Mr. LLOYD, that the bill deand Portsmouth, in Virginia, reported a bill for claring the laws now in force in the Territory of the relief of the collectors of the ports of Norfolk, Orleans, to extend 10 and to have full force and Baltimore, and Philadelphia ; and the bill was effect to the river Perdido, pursuant to the treaty read, and passed to the second reading.

concluded at Paris on the 30th day of April, 1803, The Senate resumed, as in Committee of the and for other purposes, be referred to a commitWhole, the bill declaring the laws now in force tee, with instructions to report their opinion on in the Territory of Orleans, to extend to and to the title of the United Staies to the territory in have full force and effect to the river Perdido, question, and the grounds on which that opinion pursuant to the treaty concluded at Paris on the may be founded, it was determined in the negative 301h day of April, 1803, and for other purposes, -yeas 5, nays 17, as follows: and on motion, it was agreed that the further YEA8—Messrs. Dana, Goodrich, Horsey, Lloyd, and consideration thereof be postponed until to- Pickering.

Nars—Messrs. Anderson, Bradley, Campbell, Clay, On motion, by Mr. Dana,

Condit, Crawford, Cutts, Franklin, Gaillard, Gilman, Resolved, That the President of the United Lambert, Leib, Mathewson, Pope, Smith of Maryland, States be requested to cause to be laid before this Smith of New York, and Tait. House a statement of the proceedings which On motion, by Mr. HORSEY, that the further have been had in execution of the act of the 10th consideration of the bill be postponed until Friof February, 1807, entitled "An act to provide day next, it passed in the negative. And, on for surveying the coasts of the United States." motion, by Mr. ANDERSON, it was agreed that On motion, by Mr. Dana,

the further consideration of the bill be postponed Resolved, That the Secretary of the Treasury until Wednesday next. be directed to lay before this House information On motion, by Mr. Horsey, that the President of such measures as have been pursued for mak of the United States be requested to cause to be ing a survey of the coast of the Territory of Or- laid before the Senate, all the documents, pa pers, leans, in virtue of the authority committed to or other evidences in his possession, relating to him by the thirteenth section of an act, approved the title of the United States to the territory the 21st of April, 1806.

south of the Mississippi Territory, and eastward of the river Mississippi to the river Perdido, and

to the boundaries of the said territory, it was deFriday, December 21.

termined in the negative-yeas 7, Days 13, as Mr. Smith, of Maryland, presented the petition follows: of the President and Directors of the Union

YEA8—Messrs. Dana, Goodrich, Horsey, Lambert, Bank of Georgetown, praying a charter of incor. Lloyd, Mathewson, and Pickering. poration, for reasons stated at large in the peti- NAY8_Messrs. Anderson, Campbell, Clay, Condit, iion; which was read, and on motion that it be Crawford, Cutts, Franklin, Gaillard, Leib, Pope, Smith referred to the committee to whom was referred, of Maryland, Smith of New York, and Tait. on the 11th instant, the petition of the President and Directors of the Bank of Potomac, it was determined in the negative; and,

Monday, December 24. Ordered, That it be referred to Messrs. SMITH, A message from the House of Representatives of Maryland, ANDERSON, and PICKERING, 10 con informed the Senate that the House have passed sider and report thereon by bill or otherwise. a bill, entitled "An act to continue in force, for a

A message from the House of Representatives further time, the first section of the act, entitled informed the Senate that the House have passed 'An act further to protect the commerce and seaa bill, entitled "An act for the relief of Ġeorge men of the United States against the Barbary Armroyd and Co." in which they request the Powers:" also, a bill, entitled "An act making an concurrence of the Senate.

additional appropriation to supply a deficiency The bill last brought up for concurrence was in the appropriation for the relief and protection read, and passed to the second reading.

of distressed American seamen during the year The bill, entitled "An act to fix the compensa- one thousand eight hundred and ten ;' in which tion of the additional Assistant Postmaster Geo-) bills they desire the concurrence of the Senate.

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Petition of Importers, Philadelphia.

SENATE. The bills last brought up for concurrence were which they will be liable, by the expected revival of the read, and passed to the second reading.

non-intercourse with Great Britain. For this purpose, Mr. ANDERSON, from the committee on the they beg leave to state the situation of this branch of subject, reported a bill to incorporate the Bank trade with some particularity. of Potomac. And the bill was read, and passed.

Many of your petitioners have, according to the usual Mr. ANDERSON, from the same commitiée, also course of business, sent orders to Great Britain for reported a bill to incorporate the Bank of Wash- goods as early as August

, and from that time to the ington; which was read and passed to the second middle of October. These orders, when received, are reading

given out to manufacturers to execute; and the goods, The bill, entitled "An act for the relief of when received from them and packed up, are on ac

count and at the risk of the American merchant. George Armroyd and Company," was read the

At the time when the President's proclamation was second time, and referred to a select committee, issued, the only precautionary measures, which timo to consider and report thereon ; and Messrs. Leib, would permit your petitioners to take, were to direct BRADLEY, and LLOYD, were appointed the com- the goods they had ordered not to be shipped. The mittee.

goods will therefore remain at the risk of your petiOn motion, by Mr. Smith of Maryland, the tioners, who, in cases where the goods are paid for, are bill, entitled "An act making additional appro- deprived of the use of their capital, and in other cases priation for the relief and protection of distressed will soon be subjected to a heavy charge of interest. American seamen during the year one thousand Your petitioners would further represent, that, in eight hundred and ten," was read the second time consequence of the increase of capital in this country, by unanimous consent; and referred to the com- a material change, the extent of which is not generally mittee to whom was referred, on the 12th instant, understood, bas taken place in the business of importing the Message of the President of the United States goods. Formerly, goods were imported almost excluof that date, on the same subject, to consider and sively on credit. The American merchant was a report theregn.

debtor; and, in fact, traded on foreign capital, and The Senate resumed, as in Committee of the chiefly on that of Great Britain. But, in consequence Whole, the bill for the relief of the collectors of of the great increase of capital in this city, and probably the ports of Norfolk, Baltimore, and Philadelphia; in other parts of the Union, not only is the old debt and on motion, by Mr. Smith, of Maryland, the liquidated, but the importer is enabled to make adfurther consideration of the bill was postponed petitioners state, with confidence, that about one-third

vances for a great part of his importation. And your until the first Monday in January next.

of the goods imported from Great Britain are paid for Mr. Pope gave notice, that to-morrow he should in advance. ask leave to bring in a bill authorizing a subscrip- This course of business is not only beneficial to the tion on the part of the United States to the stock merchant, but to the country at large, which thereby of the Ohio Canal Company.

obtains its supplies on better terms, and the advantages

arising from it have made it habitual. Almost all your PETITION OF IMPORTERS.

petitioners have remitted, in part, and some of them in Mr. Leib presented the petition of Samuel full, for goods which are ordered to come out the enCarswell and others, merchants of the city of suing Spring; and if the non-intercourse should be rePhiladelphia, stating that they are engaged in vived, with respect to Great Britain, on the first of the importation of manufaciured goods, and February, next, the country will not only be deprived have ordered a supply for the coming season; ally, be great sufferers, by having their property placed

of a considerable capital, but your petitioners, individuwhich it is out of their power to countermand; out of their power for an indefinite length of time. and praying, if Congress shall deem it proper to enforce a non-intercourse with Great Britain,

Some of your petitioners are placed in circumstances provision may be made by law authorizing the which may operate with still greater severity against entry of goods imported from that country, to shipped so early, that it was not possible to counter

them. They have ordered goods which will have been such date as will relieve them from the embar-mand them after the issuing of the President's proclarassments apprehended and stated at large in the mation; and which goods, by detention at the shipping petition ; which was read, and referred to the port, by long passages, or accidents at sea, may not committee appointed on the 7th instant on so arrive until after the first of February, and of course much of the Message of the President of the may be liable to seizure and condemnation. United States as concerns the relations between the United States and France and Great Britain, of their Government, and in its attention to the inter

Wherefore, your petitioners, confiding in the equity to consider and report thereon by bill or other ests of all classes of citizens, respectfully pray your wise.

honorable body to take into consideration the peculiar The petition is as follows:

hardship of their case; and, if Congress shall deem it To the honorable Senate and House of Representatives proper to enforce a non-intercourse with Great Britain,

of the United States, in Congress assembled, the pe- that a law may be passed authorizing the entry of tition of the subscribers, merchants of the City of goods imported from that country, to such date as will Philadelphia, respectfully showeth :

relieve your petitioners from the embarrassments before

mentioned. That your petitioners, being merchants engaged in the importation of manufactured goods from other

SAMUEL CARSWELL, countries for the supply of this, would respectfully rep

And thirty-eight other subscribers. resent to Congress the peculiar embarrassments to PAILADELPHIA, Dec. 11, 1810.


Bank of the United States.


BANK OF THE UNITED STATES. in the purchase of its stock, in the establishment of Mr. Lets presented the memorial of the Cham-similar institutions, and in the extension of commerber of Commerce of the city of Philadelphia,

cial enterprise. praying a renewal of the charter of the Bank of

In the purchase of its stock, your memorialists regard, the United States, for reasons therein stated; and within the immediate sphere of their connexion and the memorial was read, and referred to the commit-observation, an interest to the amount of one million tee appointed on the 18th instant, to consider the of dollars in the citizens of Pennsylvania. This interpetition of the President and Directors of the est, extending to the proportion of one-tenth part of the Bank of the United States on the same subject.

capital of the bank, and, as is stated, to one-third part

of the stock holden in the United States, has been The memorial is as follows:

principally invested at an advance upon the original To the Senate and House of Representatives of the Uni- subscription, which has been paid from faith in the man

ted States, the memorial of the subscribers, members agement and confidence in the duration of the instituof the Chamber of Commerce of Philadelphia, re- tion. This interest, in a large proportion also, it may spectfully represents :

truly be stated, is the property and dependence, invested That your memorialists regard, with interest and upon a principle of security and confidence, of widconcern, the approach of that period at which the char- ows, orphans, and charitable associations. To stockter of the Bank of the United States will expire; and holders of this description, the dissolution of the bank that, from an intimacy with the institution, and an im- must inevitably produce a loss of income and interest mediate knowledge of its direction; from a view of the to which they look for support, and of capital to an extent interests plainly interwoven with its existence, and an which no calculation can ascertain. And your memoanticipation of the ruin which must follow its dissolu- rialists cannot but think that a sacrifice of interest of tion, they are induced, on this occasion, to address you. such a description can never be required, and will never

Your memorialists, in presenting to your view such be made, but to answer national purposes the most considerations as they deem to be urgent for a renewal important. of the charter of the Bank of the United States, design

To the extent of nearly seven millions, your memoto confine themselves to such facts, circumstances, and rialists understand, the stock of the bank to be holden impressions, as are immediately within their own expe- by foreigners, or persons not residing within the Unirience and observation. They are sensible that it would ted States. That there has existed no objection, either be unnecessary to urge upon your consideration any of policy or propriety, on the part of the Government, inducement for the continuance of the bank, which to the holding of this stock by aliens, is evinced by the may be drawn from its convenience and aptitude to the charter's containing no prohibition, and by the recent financial operations of the Government; nor do they sale, directly to foreigners, of that portion of the stock deem it proper to obtrude upon your deliberations ar-holden by the United States. That this extensive interguments in favor of the Constitutional existence of an est has been invested from a firm reliance upon the institution which for twenty years has had the support continuance of the bank cannot be doubted. With of Legislative and Judicial sanction, and the express what propriety and upon what foundation that reliance respect of our united Confederacy. They are aware has been placed your memorialists do not undertake to that these points are of the first importance, and that decide, but content themselves with expressing their they, with every other national consideration connected confidence that your wisdom and justice will scrupuwith the question of renewal, will command your point-lously guard the faith of the Government from every ed attention. Their views simply are, to present before imputation. you such facts, connected with the interest of the citi. In the establishment of similar institutions under the zen, and the well-being of the community, as, in their sanction of the different State Governments, your moconception, lay the foundation for practical reasoning morialists conceive that there has been displayed a reliin favor of a prolongation of the charter.

ance upon the continuance of the Bank of the United The Bank of the United States derives its existence States. In all parts of the Union, where this bank or from an act of Congress, passed in February, 1791—its branches exist, other banking associations have been coeval with the organization of the Government, and established, the interest and concerns of which are maits arrangement of the system of revenue and finance. terially interwoven with the existence of the National It had its origin, not from individual solicitation, inter- Bank. In the city of Philadelphia, the capital of the est, or speculation, but directly from the Government banks, exclusive of that of the Bank of the United itself

, and avowedly for its purposes. By the striking States, amounts to nearly six millions of dollars, in declaration in its charter, that “a Bank of the United which the State of Pennsylvania has an interest to the States shall be established," and the still more striking amount of nearly two millions of dollars, and citizens provisions which it contains, in relation to the payment of the State to almost the whole of the residue. of three-fourths of its capital in the public debt-to the From the collection of the bonds for duties, at the inspection of its accounts and transactions by the offi- Bank of the United States, it unavoidably results that cer at the head of the Treasury—to the receipt of its there is in that bank a great and constant accumulabills or notes in all payments to the United States—to tion of the paper of the other banks. This cause, comits loans to the government of a particular State, or a bined with its weight of capital and extensive deposites, foreign Prince-by a direct investment of interest on has given to the Bank of the United States an obvious behalf of the nation, to the extent of one-fifth of its importance, in the connexion with other banks, which capital—and by a positive pledge of the faith of Gov- now renders its continuance almost indispensable to ernment, for its exclusive existence under the laws of their safety; for, your memorialists are without fear of the United States,-were impressed upon it the most contradiction when they assert, that, if the Bank of the unquestionable features of national character and last- United States be dissolved, an effect extensively and ing continuance. From its origin, its form, and its deeply injurious will be felt by all other banking instiprinciples, its duration has been confidently trusted to, tutions within the range of its operations. In their


Bank of the United States.



apprehension, it is impossible that the Bank of the that the limitation in the charter of the Bank of the United States should exact payment from its debtors, United States was a standing admonition to the variand close its concerns, without its producing all the ous interests connected with that institution, that a evils of prostrated credit and general delinquency. In period was appointed for its legal existence, which it these evils the other banks must largely share, and from could not reasonably be expected to pass. From the them must most severely suffer.

existence of this limitation, open and notorious to all, Your memorialists, on this point, submit to your it is argued, that no injustice can arise from the reconsideration, that neither the individuals who have fusal of Government to grant a continuance of privilethus extensively embarked their interests in other in- ges, beyond the time for which they were originally stitutions, nor the governments which have brought them conferred; but your memorialists are confident that into being, and made them the depositories of the pub- they speak the language of general opinion, when lic wealth, could have ever contemplated their exposure they state, that the limitation was designed as a check, to this incidental injury, or perhaps destruction, by the by which the institution might be controlled, as a dissolution of the National Bank; and, even if such guard against the mischiefs of a defective administraan exposure might have been contemplated, the event tion, or as a point of time when it might come to an could only be anticipated to proceed from the most end, if it were required, by decisive reasons of public pressing public exigency, or a sure calculation of the necessity; but that it never was designed, and never greatest public gain.

has been received, as the period of its dissolution, if In the extension of commercial enterprise, your its administration was marked by ability, integrity, memorialists present to your view, further and stronger and impartiality, and its existence productive of pubevidence of reliance upon the continuance of the lic good. bank. The establishment of the bank may justly be To the administration of the bank, your memorialregarded as the era which marks the rise of commer- ists freely yield the testimony of their decided approcial credit, confidence, and enterprise. A recurrence bation; so far as the transactions of the bank have to the state of our country, antecedently to this estab- been open to their observation, its direction has dislishment, will show the truth of the remark, and leave played a liberal desire to subserve the great objects of no doubt upon the mind, as to the instrumentality of the institution, by diffusing, with impartiality, its acthe bank in effecting the change. The formation of commodations to the greatest extent, compatible with the bank called into circulation a mass of torpid its fundamental interests. It is but justice to this wealth, opened large and liberal sources of accommo- direction, further to add, that during the current dation to enterprise, and enforced, and insured, punc- year, a crisis of the greatest interest to the bank, as tuality in commercial dealing; the effect was soon your memorialists fully believe, its accommodations and sensibly felt by the commerce and agriculture of have not been contracted within the limits appointed the country, and its salutary character has been shown, by sound considerations of safety and propriety. in the general diffusion of confidence and prosperity. How far the convenience of the Government may No sooner was the bank established upon that sure be affected by the dissolution, or by a material alterafoundation, on which faith in its permanence and tion of the bank, your memorialists do not undertake direction caused it to rest, than its stock advanced to declare; they entertain, however, the strongest perin value, and attracted a large amount of foreign suasion, that considerations, not only of great convecapital to the country; from the introduction of this nience, but of necessity, as regards the interest of indiforeign capital, which was invested at a high advance, viduals, and the prosperity of the community, urge proceeded these important results; that the citizen the continuance of the bank. On this point your atrealized a gain in the advance paid by the foreigner, tention is earnestly solicited to the existing state of and the country was enabled to trade upon the foreign the country; its unavoidable reliance upon accommocapital at an interest below its market value. Other dations from the banks; the use, convenience, and institutions rose upon the liberated capital of the citi- importance of the Bank of the United States, in its zen, and a general system of accommodation gave a present form, to the community, and the evils which spring to enterprise; the merchant, mechanic, and impend from its destruction. manufacturer, whose probity and industry inspired In a view of the state of the country, at the present confidence, was enabled to obtain the means of exer- moment, as connected with this subject, the following tion, and to extend his transactions. The borrowers particulars, they trust, will receive your attention : have calculated with confidence upon a continuance The commerce of the United States, from a combinaof the loan, so long as they are deemed safe for its tion of causes, has been, for a period of no inconsider-, repayment, and have not anticipated a demand which able duration, subject to great embarrassments. Durmay find them unprepared, and cost them a sacrifice ing the current year, this embarrassment has been of either property or credit.

much increased, and the merchant is laboring under It is upon this foundation, that extensive commer- the pressure of a heavy sequestration of property cial and manufacturing concerns have arisen in the abroad, and a failure of resources at home. Of the country; and large investments have been made upon property which is sequestered, a large proportion had the faith of a general credit. To dissolve the Bank of long lain unproductively on the merchants' hands, the United States, is not only to check, but to destroy, and was exported with the hope of being converted this credit, inasmuch, as not only that bank, but all into the means by which his engagements might be others at all connected with it, must compel the pay- met. Under such circumstances, the reliance of many ment of their debts. In such an event, it cannot be is necessarily upon a temporary use of the capital supposed that the debtors could find adequate resources found in the banks, to which they have confidently to enable them to meet their engagements; and an trusted, as a resource, whilst their credit shall continue, extensive delinquency would mark the loss of the and until their property shall be relieved. banks, and the destruction of credit.

In the current year the exportation of specie from Your memorialists are aware that it may be urged, the United States has been to its accustomed extent,

ilth Con. 3d SESS.-2




and the importation has been inconsiderable in amount. From the view which your memorialists have taken This circumstance has, of course, tended to increase of this subject, and the observations which they have the embarrassment of the merchant, inasmuch as it submitted to your consideration, it is apparent, that has necessarily contracted his accommodations. From their earnest prayer to you is, that a renewal of the these causes has resulted, that the demand for charter of the Bank of the United States may be money is uncommonly great, and the means for sup- granted ; and a confirmation thereby be given to pubplying that demand are unusually limited.

lic confidence, private tranquillity, general credit, and In this state of things, the mercantile part of the national prosperity. country sees before it, in the coming year, an extra

CONDY RAGUET, ordinary amount of debt to the United States, for du.

And one hundred others. ties, a large proportion of which, is payable upon goods that have hitherto been unproductive; and it antici

WEDNESDAY, December 26. pates the privation of that aid, which the bank has always been accustomed to give towards the payment

The Senate assembled ; and on motion, adof the Custom House bonds. In addition to this, with journed to 11 o'clock to-morrow morning. the expiration of the charter of the Bank of the United States, it sees a suspension of the circulation of fifteen millions of dollars, the stated amount of its ordinary

THURSDAY, December 27. accommodations. It sees an accumulation of the JENKIN WHITESIDE, from the State of Tennesprecious metals in the bank, to the amount of its capi- see, took his seat in the Senate. tal; it sees seven millions of that capital withdrawn Mr. Leib, from the committee, appointed on the from the country, and it sees, that payment of duties 7th instant, to consider the subject, reported a can no longer be made to the Government in the bill to incorporate the subscribers to the Farmers' notes of the National Bank, but that payment must be Bank of Alexandria; and the bill was read and made in specie. With this prospect, and the addi- passed to the second reading. tional certainty, that accommodation and confidence

The President laid before the Senate the rewill be universally succeeded by exaction and distrust, port of the Secretary of the Treasury, prepared your memorialists are persuaded, that it will be in in obedience to the directions of the act, entitled vain for individuals, for the chartered institutions, or the Government itself, to expect the fulfilment of engage in the United States," passed April 10, 1806; and

"An act regulating the currency of foreign coins, ments, or to rely upon the performance of contracts. To the minds of your memorialists, the Bank of the

the report was read and ordered to lie for consid

eration. United States, in its present form, presents a striking character for its use, convenience, and importance to ask leave to bring in a bill for the establishment

Mr. Leib gave notice that tomorrow he should the community. In addition to the various points of view in which its value has been already considered,

of a quartermaster's department. its uses are further to be regarded, in its affording a

The bill, entitled "An act to continue in force, convenient and safe medium of circulation throughout for a further time, the first section of the act, enthe United States ; and in the facilities which it grants, titled 'An act further to protect the commerce by means of its drafts, in the transposition of funds and seamen of the United States against the Barfrom one part of the country to another, with perfect bary Powers," was read the second time. security. In a national and individual point of view, The bill to incorporate the Bank of Washingits utility is also displayed, in having and exercising, ton was read the second time. by means of its peculiar connexion of several branches Mr. Smith of Maryland, presented the memoin one common interest, the power of guarding against rial of Thomas Corcoran and others, citizens of the inconvenience and evil, which might result from Georgetown, in the District of Columbia, stating the balance of trade between different parts of the that they had commenced certain improvements Union, producing a local deficiency of the circulating in the channel of the river Potomac, near that medium. But, above all, your memorialists regard as town, but that they were impeded in their proinestimable, an institution which, in its ample re. gress by a legal injunction, on suggestion that and liberal spirit of its direction, manifests the will, they might do injury to the bridge lately erected effectually to aid both Government and the private over the aforementioned river: And that the citizen, in case of a sudden and serious emergency.

petitioners are constrained to lay their case beTo predict, with certainty, the extent of the evils relief. And the petition was read and referred

fore Congress, and to ask their interposition and which must inevitably flow from a dissolution of the bank, is beyond the power of your memorialists. They to consider and report thereon, by bill or other

10 a select committee, to consist of five members, conceive that, among these evils, however, may certainly be placed an extensive and aggravating loss, by all wise ; and Messrs. Smith, of Maryland, Frankpersons interested in the banking associations of the Lin, CHAMPLIN, GAILLARD, and BRADLEY, were country, a destructive disregard of punetuality in the appointed the committee. performance of contracts, both towards the Govern Mr. HORSEY gave notice that to-morrow he ment and the citizen; a wide spreading bankruptcy, should ask leave to bring in a bill authorizing the which will be felt by the commercial, inanufacturing, sale and grant of a certain quantity of public land and agricultural interests; a diffidence of the stability to the Chesapeake and Delaware Canal Company. of Government, th at ome and abroad, and a pros

A message from the House of

presentatives tration of that confidence and credit, which have so informed the Senate that the House have passed happily and successfully administered to the enter- a bill, entitled "An act to authorize the Secretary prise and prosperity of the country,

of War to ascertain and settle, by the appoint

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