is * TREASURY DEPARTMENT,! Deambir 13, 1790. J In obedience to the order of the House of Re presentatives of" the prb Day of August lad, requiring the Secretary of the Treasury to prepare and report, on this Day, luch fur ther Provision as may, in his opinion, be ne ceflary for establishing the PUBLIC CREDIT —the said Secretary further Respectfully reports, (continued from our last.) TO procure for the landholders the afliftance of loans, is the great deftderatum. Suppofingother diiSculties lurmounted, and a fund created, composed partly of coin and partly of land, vet the benefit contemplated could only then be obtained, by the bank's advancing them its notes for the whole, or part, of the va lue of the lands they had subscribed to the flock. If this advance "was small, the relief aimed at would not be given ; if it was large, the quantity of notes iflued would be a cause of diftruji, and if received at all, they would be likely to return speedily upon the bank for payment ; which, after exhausting its coin, might be under a neceflity of turning its lands into money, at any price that could be obtained for them, tf> the irreparable prejudice of the proprietors. Confiderationsof public advantage fugged a further wifh,wh'ch is, thar the bank could be established upon principles, that would cause the profits of it to redound to the immediate benefit of the State. This is contemplated by many, who speak of a national bank, but the idea seems liable to insuperable obje&ions. To at tach full confidenceto an institution of this nature, it appears to be an eflential ingredient in its ftru&ure, that it shall be under a private not a public dire&ion, under the guidance of individual in tcrejl, not of public policy ; which would be supposed to be, and in certain emergencies, under a feeble or too fauguine administra tion, would really be, liable to being too much influenced by public ncccfjity. The suspicion of this would probably be a canker, that would continually corrode the vitals of the bank, and would be molt likely to prove fatal in those situations, in which the public good would require, that they should be moll found and vigorous. It would indeed be little less than a miracle, (hould the credit of the bank be at the disposal of the government if in a longferiesof time, there was not experienced a calamitous abuse of it. It is true, that it would be the real interefl of the govern ment not to abuse it ; its genuine policy to husband and cherilh it with the moll guarded circumfpeftion, as an inestimable trea lure. But what government ever uniformly consulted its tiue in terests, in opposition to the temptationsof momentary exigencies ? What nation was ever bleffec? with a constant fuccellion of up right and wife administrators ? The keen, steady, and as it were magnetic sense of their own interest as proprietors, in the dire&ors of a bank, pointing in variably to its true pole, the prolperity of the institution, is the only security that can always be relied upon for a careful and pru dent administration. It is therefore the only basis on which an enlightened, unqualified and permanent confidence can be expeft cd to beere&ed and maintained. The precedents of the banks eftabiifhed in several cities of Eu rope, Amsterdam, Hamburgh and others, may seem to militate against this position. Without a precise knowledge of all the pe culiarities of their refpe&ive constitutions, it is difficult to pro nounce how far this may be the cafe. That of Amsterdam how ever, which we bell know is rather under a municipal than a go vernmental direction. Particulai magillrates of the city, not of ficers of the republic, have the management of it. It is also a bank of deposit, not of loan, or circulation; consequently less liable to abuse, as well as less ufeful. Its general business con- fills in receiving money for fafe keeping, which if not called for within a certain time, becomes a part of its flock, and irreclaim able : But a credit is given for it on the books of the bank, which being transferable, anfweis all the purposes of money. The dire&ors being magistrates of the city, and the stockholders in general its most influential citizens, it is evident, that the prin ciple of private interest mud be prevalent in the management of the bank. And it is equally evident, that from the nature of its operations, that principle is less essential to if, than to an institu tion constituted with a view to the accommodation of the public and individuals, by dire£l loans and a paper circulation. As far as may concern the aid of the bank, within the proper li mits, a good government has nothing more to wifli for, than it •will always poflefs ; though the management be in the hands of private individuals. As the institution, if rightly constituted, mull depend for its renovation from time to time on the pleasure of the government, it will not be likely to feel a disposition to render it felf by its condufl unworthy of public patronage. The govern ment too, in the administration of its finances, has it in its power to reciprocate benefits to the bank, of not less importance than those which the bank affords to the government, and which be sides are never unattended with an immediate and adequate com pensation. Independent of these more particular confederations, the natural weight and influence of a good government will al ways go far towards procuring a compliance with its desires; and as the directors will usually be compoied of some of the moll dis creet, refpc£lable and well-informed citizens, it can hardly ever be difficult to make them sensible of the force of the inducements •which ought to stimulate their exertions. It will not follow from what has been said, that the state may not be the holder of a part of the {lock of a bank, and confequerit ly a sharer in the profits of it. It will only follow that it ought not to desire any participation in the direction of it, aud therefore ought not to own the whole or principal part of the flock ; for if the mass of their property fliould belong to the public, and if the direction of it should be in private hands, this would be to com mit the interests of the state to persons not interested, or not enough interested in their proper management. There is one thing, however, which the government owes to it felf and to the community ; at least to all that part of it, who are not stockholders; which is to reserve to itfelf a right of ascertain ing, as often as may be neceftary, the ftite of the bank, excluding however all pretention to controul. This right forms an article in the primitive constitution of the bank of North-America ; and its propriety stands upon the eleareft reasons. If the paper of a bank is to be permitted to insinuate itfelf into all the icvenues and re ceipts of a country ; if it is even substituted for gold and fiJver in all the tranfattions of business, it becomes in either view a nati onal concern of the firft magnitude. As such, the ordinary rules of prudence require, that the government should poflefs the means of ascertaining, whenever it thinks fit, that so delicate a trust is ex ecuted with fidelity and care. A right of this nature is not only defirabJe as it refpe£ls the government; but it ought to be equally so to all thofc concerned in the institution; as an additional title to public and private confidence; and as a thing which can only be formidable to practices that imply mismanagement. The pre emption mull always be, that the c.hara6lers who would be en trusted with the exercise of this right on behalf of the govern ment, will not be deficient in the discretion which it may require; at least the admitting of this presumption cannot be deemed too great a return of confidence tor that very 1 rge portion of it which the government is required to place in the bank. Abandoning therefore ideas, which however agreeable or desi rable, are neither pra&icable nor fafe; the following plan for the constitution of a National Bank, is refpe£tfuiiy submitted to the confidcration of the house. [For this plan, fee No. 69 ef this Gazette.'} (To be concluded in our next.) THE Copartnership of HEWES and ANTHONY having ex pired the 31ft ultimo, they request thofc, who have any de mands, to exhibit their accounts and receive their money ; and tliofe who are indebted, are desired to make fpcedy payment, to either of the Subscribers, at their Compting-Houfe, No. 5, Ctie.- nut-Street-Wharf. J O S I A H HEWES, JOSEPH ANTHONY. Philadelphia, Jan. 15, 1791 N. B. They have yet on hand, and for SALE, at their STORE abovementioned, HYSON, Souchong, and Boliea TEAS, Three cases Caflia, Pimento in bags, Muscovado Sugar, A few Cases old Batavia Arrack, One cask of Durham Mustard, New England Rum in hogflieads and barrels, A quantity ot prime Boston Beef, Spermaceti, right whale and tanners' Oil, Beit pickled Mackrel, _ . 6by 8— 7 by 9 —8 by 10 —9 by 11 —and 10 by 12 Window Glass, A quantity of excellent carrot Tobacco, And an elegant CHANDELIER. New Line of Stages. THE Subscriber has eftabliftied a line of STAGES from Hart ford to Boston, by way of Norwich and Providence, which will run thro twice a week during the Winter Season, and three times a week during the Summer Season. Carriages. Horses, and careful Drivers are provided. PalTengers pay three Pence per Mile, and are allowed 14 pound Baggage each. Extra Baggage pays at the rate of three Pence per Mile for every 150 wt. As the Mail is to go in these St3ges for the year 1791, fixed hours for starting from the refpe&ive Stage Houles is absolutely neceffary—from which there can be no devia tion. Norwich, Dec. 14, 1790. The Stage for the Eastward leaves Hartford Mondays and Thursdays, Norwich Tuesdays and Fridays, Providence Wednesdays and Saturdays, For the Westward, leaves Boston Mondays and Thursdays, Providence Tuesdays and Fridays, Norwich Wednesdays and Saturdays. 69 —lwgm MASSACHUSETTS STATE LOTTERY. THE Managers afthe STATE LOTTERY, present the Public with the First C'.afs of the Majfachufetts semi-annual State Lot tery, which will commencedrawingin the Representatives' Chamber, in Boston, on the Seventeenth of March next, or sooner, if the Tickets ftiall be disposed of. SCHEME. NOT TWO BLANKS TO A PRIZE, 25,000 Tickets, at Five Dollars each, are 125,000 Dollars, to be paid in the following Prizes, lubjeft to a dedu&ion of twelve and an half percent, for the use of the Com monwealth. Prizes. 1 of 2 3 6 10 30 80 90 100 120 161 200 7585 8388 Prizes. 16612 Blanks. 2 5000, US* TICKETS may be had of the several Managers, who wil pay the Prizes On deihand—of the TREASURER oftbe Common wealth—of JAMES WHITE, at his Book-Store, Franklin's-Head Court-Strcet t and at other places as usual. BENJAMIN AUSTIN, jun.l DAVID COBB, | SAMUEL COOPER, y Managers. GEORGE R. MINOT, ' JOHN KNEELAND, J Bojlon, Jul) 28, 8790. (J3* Tickets in the above Lottery are to be Jold by Stephen At; it in corner of Front and Pine Streets, Philadelphia. PLEASE TO NOTICE. id" FOR the accommodation of those who would wifb to become Adventurers in the First Class of the MassachusettsSe mi-annual St ate Lottery, letters, port paid, directed to Samuel Cooper, at his Office, North fide State-House, Boflon, enclofiug Philadelphia, New-Tork or Boftort B auk-Bills , or other good Bills, will be particularly attended to t and Tickets forwarded immediately upon the receipt oj such letters. Boston, Dec. 22, 1790, N. B. A Lift of Prizes will be deposited with the Printer hereof, immediately after the drawing is compleated. 71 iaw tf Henry Kuhl, At No. 143, Second-Street, near Race-Street, BY advice of his friends in New-York and Philadelphia, has opened an office for thcpurpofc of buying and felling, on com million, the different species of Stock, and of liquidated and unliqui dated paper in the market. He will obtain such Certificates as are required by the funding lazy, for those who have unliquidated Securities ; and transjci (lock from and to the Treasury and the Oflices of the Commifliouers erf Loans, on moderate terms. Having lor fcveral years past been employed in the Treasury of the United States', he is well acquainted with its operations and forms ; and flatters himCelfthat on that (core he has a decided ad vantage in tranfatting business here. Heis fully imprefied with the truth of the adage that " difparch is the foul of business," and will always make the interest of his employers an object of the firft importance. * Philadelphia, December 29th, 1790. (£3T Subfcribcrs for Mrs. Warren's Poems, are requejlcdto call on the Editor fort he ir boohs. 716 Martinico Coffee, (eaw6w.) JESSE BROWN. Dollars. 10000 is 3000 are 2000 1000 500 200 100 5° 40 3° 20 10 8 AMERICAN CLOTHS. SUPERFINE and ELASTICS, CONGRESS BROWN, LONDON SMOKE, LEAD DRAB, BLUE and OTHER fafhionable Colours, Mjnufa&ured it Hartford, (State of Connecticut,) juil received, and are now offered for Sale, at the CHEAP STORE, No. 38, North Third Street, At which Store are also opening a large and general afTortrncm of EUROPEAN and INDIA GOODS. CL'OTHS, Linens, Painted, sprigged, tambour ed book, and jaconet Muslins, Chintzes, Cottons and Calicoes, Silks, And many other Articles, too numerous to insert in an Advcr tifement ; all of which are now felling by Wholefilc and Retail, oa so low terms, as to make them an object to the purchasers. N. B. A few Barrels of MACKAREL, and Nova-Scotia HERRINGS. Philadelphia, Jan. 12. 1791. EBENEZER HAZARD and JONAS ADDOMShave entered into partnerftiip, and opened an OFFICE, at No. 173. in Market-Street, a few doors above Fourth-Street, where, under the Firm of Hazard and Addoms, They purchase and fell all kinds of CERTIFICATES—PAPER MONEY, and BANK N. B. Transfers made at the Public Offices, and Bu fin ess in ge neral tranfa&ed on Commiflion. December 29. By JOHN TRUMBULL, For Publ Ishlng by Subscription, TWO PRINTS, From original Piflures painted, by kinje)f; One representing the Death of General WARREN, at the Battle of Bunker's-Hi//. Theother, the Death of General MONTGOMERY, in the Attack of Quebec. IN the battle of Bunker's-Hill, the following Portraitsare intro duced— American, Major General Warren, Gen. Sir Wi lli am Howe, Putnam. Sir Henry Clinton, Lieut. Col. John Small, Major Pitcairn, and Lieut. Pitcairn. In the Attack of Quebec, arc seen— General Montgomfry, Colonel Thompson, Major Macphkrson, and Capr. Cheesma n. CONDITIONS OF SUBSCRIPTION. Dollars, 10000 600 c 6000 6000 6000 8000 4 4crco 3600 3220 20C0 60680 The prints will be engraved by two of the most eminent artifls in Europe. The size will be 30 inches by 20, The price to sub scribers, Three Guineas for each print; one half to be paid at the time of fubferibing, the remainder on the delivery of the prints, which will be as soon as the wor.k (which is already confidcrably advanced) can poflibly be completed. Subscriptions are received in this city by Joseph Anthony % jun. Goldsmith and Jeweller, No. 76, Market-ftrcet. Th'ef* prints are the firft of a series, in which it is proposed to reprcfent the most important events of the American Revolution. 125000 No period of the history of man, is more interesting than that in which we have lived. The memory of scenes in which were laid the foundations of that free government, which fecurcs our national and individual happiness, must ever remain dear to us, and to posterity ; and if national pride be in any cafe juftifiable, Americans have a right to glory in having given to the world an example, whose influence is rapidly fprcading the love of free dom through other nations, and every where ameliorating the condition of men. To afliftin preserving the memory of the illuflrious events which have marked this period of our country's glory, as well as of the men who have been the most important a&ors in them, is the ob je& of this undertaking History will do justice to an sera so im portant ; but to be read, the language in which it is wrinen must be understood—the language of painting is universal, and intelli gible in all nations, and every age. As several years of bis time, and a very considerable expencc, are necelTary to accomplish this undertaking, it would bean im prudent facrilice to the mere hope of reputation to go more deeply into it, without a probability of ultimate success :—That he may judge of the degree of this probabilitv, Mr. Trumbull, by the ad vice of his friends, proposes this fubfeription, and flatters himfelf with a hope 0/ meeting that patronage from his countrymcn, which will juftify his pursuing the object with ardor; and with out which it is importable that so expensive a work fliould be con- tinued The fubje&s proposed to be reprefented,in addition to the two foregoing, of Bunker's-Hill and Quebec are— * The Declaration of Independence, * Battle at Trenton, * Battle of Prince town, Surrender of General Bur gov ne, Treaty with France, Battle of Eutaw Sprincs, * Surrender of York-Town, Treaty of Peace, Evacuation of New-York, Resignation of General Washington, The Arch at Trenton, Inauguration of the President of the United States. Each pidture will contain portraits of the principal charaftrrs who were present at the scene represented, Those marked with liars, are coniiderably advanced ; and the prints from the whole will be executed of the fame size, and by the most eminent cr.- gravers. Wanted, a good Cook, either Man or Woman.—- -Enquire at No. 209, Second-Street,, opposite the New-Market. (jdT THE Sub bribers Jor this paper, in the city of New-York, are rcjpeflfully informed, that the charge of the papers proving inconve nient to Mr. Wctmore, at the PoJi-Off.ee, the Editor has engaged Mr. Samuel Campbell, Book-feller, Hanover-Square, to receive them ar.i superintend their delivery—by whom Subfcnptions and arrearages w. - be received. (£s* The price oj this paper is 3 dollars per annum ELEGAS'T Vest Patterns— adapted to ihe fcofon, Silk, Cotton, and Worftcd Hose, Corduroys, Veivcrctrs, and Royal Ribs, Bcft Buck, Braver, and Yl'luie Kidd Gloves, A Variety of STUFFS. STOCK PROPOSALS, Britijh,
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