The Enquirer

.Bank of the United States. -We have the pleasure to announce the rejection of the application of the Trustees of the late Bank of the U. S. to the Legislature of Pennsylvania for a charter for a bank of five millions. We have been favored with the following copies of two propositions which were made by the agent of the Trustees to the committee to whom the subject was referred:

The Trustees of the late Bank of the United States, as a bonus to the commonwealth, for a charter of incorporation to continue in force twenty years, and to include a capital of five millions of dollars, are willing to pay the following sums:

1. The sum of 175,000 dollars, to be appropriated to the construction of an artificial road from the borough of Harrisburg to the borough of Pittsburg, upon the route reported by commissioners appointed under an act of the general assembly, passed on the 3d day of April, 1811.

2. The further sum of 100,000 dollars, to be appropriated to the construction of an artificial road from Northumberland to the town of Waterford, in the county of Erie.

3. The further sum of 50,000 dollars, to be appropriated to the erection of a bridge over the river Susquehanna, at or near Columbia.

4. The further sum of 50,000 dollars, to be appropriated to the erection of a bridge over the said river at Harrisburg.

It is understood that these sums are to be given in aid of the appropriation heretofore made by the general assembly, and with a view to ensure the execution of certain objects referred to in the great appropriation law of the last session; and that they are to be given absolutely, in order, in the first place, to induce subscriptions by individuals to the turnpikes and bridges mentioned; and in the next place, to increase the prospect of emolument to the state for her interest in them; but that the bank, when chartered, is not to be considered as interested in the said turnpikes and bridges, as a stockholder or otherwise.

Lancaster, Dec. 18th. 1811.

SIR, -The Trustees of the late Bank of the U. S. having understood that the bonus heretofore offered by them for a charter of incorporation, is not thought proportionate to that which other banks have paid, and being willing to give to the commonwealth a further pledge of their disposition to make the interest of the state at least equal to any which the stockholders can have in that object, have instructed me to submit the following propositions, in addition to those which I formerly had the honor to lay before the committee.

1st. To pay the sum of one hundred and twenty-five thousand dollars, ($125,000,) to be appropriated in the following manner.

Thirty thousand dollars for improving the navigation of the river Lehigh, from the Great Turn-Hole to the mouth of the river.

Thirty thousand dollars as a subscription to the stock of the company incorporated for making a turnpike road from the east end of Perkioming bridge, to the borough of Reading, in Berks county. The stock thus subscribed, to become the property of the commonwealth, and the profits and dividends to be received for the use of the commonwealth.

Fifteen thousand dollars as a subscription to the stock of the company which may be incorporated for erecting a bridge over the river Delaware, between Black's Eddy (above Bull's island) and Well's Falls. The stock to belong to the commonwealth, as in the preceding item.

Twenty thousand dollars ($20,000) as a subscription to the stock of the company for making an artificial road from Berwick to that point on the north line of the state which is nearest to Newtown, on the river Tioga, in the state of New York. The stock to belong to the commonwealth, as in the preceding item.

Fifteen thousand dollars ($15,000) to be applied to the use of the Centre turnpike road, in such manner as the exigencies of the company for making the road may require.

Fifteen thousand dollars ($15,000) to be applied to the improvement of the road, known by the name of the North and South Road, which runs through the county of Wayne to the north line of the state.

2nd. To loan to the commonwealth at any time during the continuance of the charter a sum of five hundred thousand dollars ($500,000) at an interest of five per cent. per annum, for the purpose of aiding the interior improvements of the state.

By these propositions, taken in connection with those heretofore submitted, you will perceive that the total amount of the bonus in cash, will be five hundred thousand dollars, ($500,000) & the state will have the option of using the further sum of five hundred thousand dollars of the bank capital, at a low rate of interest which will form a considerable annuity for the use of the state, whenever it may think proper to claim the benefit of this provision in the charter.

These propositions are intended, sir, as a compensation to the state for a charter to embrace a capital of five million of dollars (5,000,000.)" Inasmuch however as this amount of capital may, by the legislature, be thought too large, I am instructed to propose, on behalf of the trustees, a bonus of four hundred thousand dollars ($400,000) cash, to be expended upon internal improvements, for a charter including a capital of four millions of dollars, or a like bonus of three hundred thousand dollars, for a capital of three millions of dollars, and so a proportion for any capital between the three millions and five millions of dollars, contemplated by the proposition first made.

I take the liberty of requesting you to submit this communication to the committee on banks, of which you are chairman, through whom, I may presume it will come to the knowledge of the house.

I have the honor to be,
Very respectfully,
Your obedient servant,
HORACE BINNEY.

Lancaster, January 17, 1812.
John Drinker, Esq. chairman of the committee on banks.

The bill before the House of Representatives predicated on these propositions, was negatived in committee of the whole; & on the 20th inst. the House concurred in their report. 69 Yeas. 22 Nays.