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PUBLISHED WEDNESDAYS AND SATURDAYS BY JOHN FENNO V» si„ mruqtbcct •,"~4rrf=
: _ T r ~"«u, NO. 69. HiL,H-STREET, BETWEEN SECOND AND THIRD STREETS, ?Hf L A d'F I,?HI A
[No. 59, of Vol. lII.]
PHIL AD EL PHIA.
BANK OF THE UNITED STATES.
Resolved, That the following AP.s and Resolutions
bt published J or th; infr,tmation of the Stockholders
of tht Batik of the United States, and such persons
as may have to tranfatt business with the Bank.
THAT the Bank (hall be opened on every clay
(Sundays, Chridmas-day, and rhe fourth of
juiy, excepted) at nine o'clock in the morning,
and so remain until four o'clock in the afternoon.
That discounts for the present, and until alter
ed by a quarterly or special meeting of the Board
of Directors convened for that purpose, {hall be
made at the rate of fix per cent, per annum; and
that all bills or notes offered for discount, {hall
be delivered into the Bank on Monday or Wed
jiefday, and laid before the Directors, together
wi.ii a (late of the funds of the Bank every Tuef
dny and Thursday, on which days the discount
(lull be fettled, and {hall be made known on the
next succeeding days.
That difcoimrs {hall be made for the present,
and until altered by a quarterly or special meet
in"'of he Board of Directors convened for that
pui pose. upon personal feenrity only with at leafl
two responsible names, for a term not exceeding
fistv days, and that three days of grace be allow
ed 011 all bills or notes payable to the Bank, and
that the difconnt be taken for the fame.
That bills or notes left with the Bank {hall be
prefemed for acceptance, and the money collect
ed or demanded, free of expence: Provided ne
vertheless, that in cafe of non-payment and pro
tefl, the charge of pioteft {hall be paid by the
person lodging the bill or note.
That payments made at the Bank {hall be ex
amined at the time,and no error suggested after
wards (hall be corrected.
Thit the. payment of the capital
stock, confiftitig of specie, v»K|th will be due oii
the several shares subscribed' on the firft Monday
in January next, be madertT the Bank—btat that
the portion confift'ng of pfcblic debt, which will
he due on the feretal shares ftibfcribed, on the
firft Monday of January next, may bfc mad£ Stthe
option of the Stockholders, by transferring tHe
feme to the Prefidenrv Directors, and Company
Of the Bank of the United States, at any time on
or before the firft Monday of January next, ei
ther upon the books of the treafnry, or upon the
books of any of ihe Commissioners of Loans for
any of the States.
That the form of the power for voting by
proxy at any e'etftion, be:
■Ks'ow all Men by these Aese vts, That
of do hereby appoint to be
fubflitute and proxy for and in name
and behalf, to vote at any election of ■ a Direclor or.
Diredors of the Bank of the United States, as fully
as or could were perfonatly present.
In n>itHffs whereof, have hereunto fit hand
and ft al, thit day of' in the year
SwW.and drliverrd')
in the prefcncc of \
That theformof the power for voting by proxy
refpe&ing tlie enacting, repealing or amending
Bye-I.aws, Ordinances and Regulations, be:
Know all Mi» by these Presents, That
of do hereby appoint fubJUtutf
tr proxy, to represent at ail meetings of the
Stockholder! of the Bank of the United States, and
in name arid behalf, to vote refpiO'tng the en
ding, repealing or amending ft ch Bye-Laws, Or
dinances or Regulations, as may be deemed neces
sary and convenient jo> the government oj the said
Bank.
In xoltnefs whereof, have hereunto fit hand
end fealy this day of in the year
Sea!etfl and delivered )
in the pretnee ot
That the form of llie power for felling, assign-
TOg and transferring IBank Stock, be:
Know all Me* by thf.se I'rfsfnts, That
■ of dr, hereby con'titute and appoint
*J true (ind lau'jfil attorney 7 for and in
»aiat and behalf, to /}!!, cud transfer unto
'pptrfon orperfons t the r 'hoU or any part of
Jhare unto in the capital or
pint flack of the Pref dent, Dirdiurs ar.d Company
*f the Bank of the United Statu, and for thai p.:r
---/'/• '* make and execute cil necdjary asa 9j afgr.-
wr
'/ / c.
Saturday, November 19, 1791.
and tvansfer r and ffiytbermore one. or wore
per fans uad:r to fubjiituU with like full power.
In •witnefswhereoj, have hereunto set hand
' r r r ,j
and feel-, this
Sealed and delivered )
in Ihe presence of £
That the form of the power to receive Divi
(lends be :
Know ah Men by these Presents, That
of do hereby. constitute and appoint
lawful attorney Jor 'and in name and behalf,
to receive and give receipt! for all dividend* now
due, or -which may grow due on fbari
to belonging, in the capital or joint flock of the
President, Direfiors and Company of the Bank of
the United States.
In w'ttnefs ivherebf, have hereunto set hand
* ~ ' » /"* ' , t
and ftai, this
Sealed and delivered ?
In the picfcnce of £
1 hat the Bank ihall receive and pay all specie
coins, according to the rates and value that have
been or fliall hereafter be established by CongrefS.
I hat the lawful pcfleilion of a certificate for a
fbare in the Bank of the United States, iflued by
the persons appointed to receive fubferiptions to
the said Bank, and accompanied by an alignment
thereof, shall be deemed afufficient authority for
the transfer at the Bank of focli share totheper
fon to whom the fame shall have been thus as
signed.
That th,e delivery to Thomas Willinc, Pre
sident of the Bank of the United States, of a cer
tificate of public debt, bearing an annual interest
of fix per cent, and flandingupon the books of a
Loan-Office in any of the Slates, accompanied
with a power of attorney authorizing the said
Thomas Willing, or his substitute, to transfer
to the President, Directors and Company of the
Bank of the United Stxtes, the whole, or the parr,
of the flock espreflec! in ftich certificate, fliall for
so much as may be thu> rt-'amfevred, -He
a payment purfuanr to the charter of tbe said
Bank, and on account of the firft and second pay
ment in the public debt, which will become due
upon Bank fliares on the firft Monday in January
next, provided that the delivery of the laid cer
tificate and power of attorney be made to the said
Thomas Willing on or before the said firft
Monday in January—and that fatisfartory evi
dence be given to the Dire>ftors of the said Bank,
of the completion of such transfers, on or before
the firft j\lond3v in March next.
That the Bank receive transfers of any of the
public debt in trufl for such persons as may re
quire the fame.
That in all cafej. when thereunto required,
that the Bank accept powers of attorney for re
ceiving intei efts due, or to grow due upon any of
the public debt, and hold the fame at the order
of the proprietor, free of charge.
Refolvcd, That it will be expedient to establish
Offices of Discount and Deposit in the several
cities of Charle/lon and New-York, and towns of
Baltimore and Bojlon, and as soon as may be afrer
the fir 11 Monday of January next, upon the fol
lowing plan :
Article i. The Directors of the Bank of the
United States (hall appoint a number of Direc
tors, not less than nine for each department, a
majority of whom shall constitute a board.
yjrt. 2. The Directors for each department
fliall clioofe one of their number for President.
Art. 3. The Directors of the Bank of the
United States lhall appoint the Caihiers of de
partments.
Art. 4. The Directors of departments flirfll ap
point their refpeiftive Tellers, Clerks and Ser
vants, and the i'ecurities by them given fliall be
approved by the Diie<ftois of the Bank of the
United States.
Art. 5. The Directors of departments fliall be
annually appointed, but not more than three
fourths of whom, exclusive of the President, fliall
be eligible for liie next succeeding year.
Art. 6. The coTiipenfaiion to the President,
Tellers. Clerks and Servants of departments, fliall
he established by the Directors of the Bank of the
United States.
Art. 7. The manner of keeping, dating and
rendering the accounts of the departments, fliall
be prescribed by the Directors of theßankof the
Uuiied States, and the obfei vance of the rules
established fliall be enforced by the Directors of
the Rank of the United State*, to whom accounts
of departments shall be rendered.
233
day of in the y tar
day of in the year
Z /(£ r&Xeef
SFVZ Z?*
Art. 8. That part of the capital Hock of the
Bank which consists of the public debt of the
United States, /hall not be divided, but the de
partments (hall discount upon ftich part of the
ipecie capital of the said Hank as the Directors
/hall a]>portion to them, with such part of thede
pofits as lhall be lodged with them from time to
time, as the J)ire(fiors of departments /hall judge
fafe and expedient.
Art. 9. All notes ifl'ued at the departments/hall
be signed and countersigned by the Prefidentand
Ca/hier of rhe Bank of the United States—/hall
be made payable at the refpe<Sive departments
from which they are iflued, and /hall be deliver
ed to the Ca/hier of the department, who /hall
give duplicate receipts for the fame, one of which
is to be lodged with the President of the Bank of
the United States, and the other with the Pre/i
---dent of the department.
Art. 10, All notes which /hall have become nil
fit for circulation, /hall be cancelled by the Pre
sident and Directors of departments, and imme
diately thereafter transmitted to the Directors of
the Bank of the United States, who /ball cause
the said departments to be credited for the fame.
Art. ii. Therefpetftivedepartments fliatl, once
in every week, make out and transmit ro the Di
rectors of the Bank of the United States, a dif
tintf abftrasft of the state of their funds—which
abftrauft ihaH ascertain the amount of the deb's
and credits of the department, the amount of
notes iflued by the department and then in cir
culation, the amount oif cart) on hand—.and flmll
likewise diftinguifli in the account of cafli on
hand, hbw much thereof is in specie, and how
much in tlie several kinds of Bank notes.
■rfrt. 12. That the continuance of the said de
partments {hall be at the plrafure of the Direc
tors of the Bank of the United States—but none
of the foregoing regulations shall be rescinded,
unless at a meeting of a majority of the whole
iiinuihsr as Diretlior*, after a n/vtire given
that purpose at a preceding meeting.
By order of tht Bnard of Direfrors,
THOMAS WILLING, President
Countersigned,
John Kean, Cajhier.
8C?" Somi inaccuracies having occurred in thoft
publications of the Bye-Laws oj the Bank oj the United
States, which have already appeared—an authentic
copy wilt be priblr.Jljed in the next number of this
paper, pursuant to orders of the Directors.
on the freedom or spsech
FREEDOM of speech is the privilege of man ;
tha peculiar privilege of an American ; but f do
Hot fay that it is never abused ; it is abused when
virtue is drawn in a forbidding, and when vice
is painted in a seducing light ; it is abused when
truth is'obfcured by dark shades, and when falf
hood is drefled in tlie mod captivating colours ;
it is abused when liberty is exhibited bound in
chains, and when tyranny is placed in a pleasing
point of view, embelliflied with every ornament
which can dazzle and delude. To drop the pen
cil—he, surely, whatever be his rank in life,
whatever be his pod in society, discovers neither
wifdotn nor benevolence, who endeavors, as a po
litician. to loo<en the bands of morality ; and as
a mora lift, to weaken the ties of religion.—Such
a man, whatever be his rank in life, whatever
be his pod in society, is not a friend to mankind
—nor himfelf.
Of Prohibition with refpett to the Exportation cf
Gold and Silver.
COULD Spain and Portugal have succeeded
in executing their foolifii laws for hedging in the
cuckow, as Locke calls it, and have kept at home
all their gold and silver, those metals would, by
this time, have been of little more value than so
much lead or iron. Their plenty would have
ledened their value. We fee the'folly of these
edicts ; but are not our own prohibitory and re
ftri<ftive laws, that are profefledly made with in
tention to bring in a balance in our favour from
our trade with foreign nations to be paid in mo
ney, and laws to prevent the neceflity of export
ing that money, which, if they could be thoroly
executed, would make money as plenty, and of
as little value. I fay, are not fa eh laws akin to
those Spanish edicts ; follies of the fame fatniW »
4'
[Whole No. 2()';7.]
EXTRACTS.
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