Gazette Of The United States

PROVIDENCE, July 21.

The rapidity with which the subscription to the Bank of the United States was filled, proves that the wealth of this country is much beyond what has been generally supposed, and that the same enlightened and magnanimous policy that established the present happy constitution of the government of our country, which has so highly raised our national reputation, in the esteem of the world at large, now continues to beautify and strengthen the magnificent fabric, and to render all its numerous apartments, as commodious as possible for the GREAT PEOPLE, resident under its wide extended canopy.

As the heart, the arteries and the veins give life and motion, by the circulation of the blood through every part and limb of the human system, so the Bank, by means of the regular and systematic arrangements under which it will be governed, will circulate through the most remote as well as all the intermediate parts of the Union, an active, vivifying, confidential and easy commerce, extremely salutary to the health, vigour and comfort of the political body. One of its first and most indispensable laws, is the utmost punctuality in dealing, another to circulate its specie, or its representative, the Bank Bills, which are equally as good, to as great an extent, if possible, as its constitution will allow, and a third, as a consequence of the two former, to discountenance or extirpate all unlawful or usurious oppressive interest. Thus punctuality in dealing, a plenty of ready cash, and a reduction of exorbitant and unreasonable interest, are its immediate consequences. It is true that it creates a great, active monied interest : But we have a great landed interest to balance it, and it is the monied interest that pays and will continue to pay all the Federal Revenue of our country. This wise and prudent policy will render the discharge of the national debt light and easy to the people, and will promote industry, enterprise and commerce, at the same time that it will raise the value of rents, and all landed estate, which had sunk greatly below its just and proper level. And when agriculture and commerce are thus benefitted, the manufacturing interest cannot but participate in the common good. How pleasing to Mr. HAMILTON must it be, that these things are justly said of a measure which he patronized and recommended.