National Gazette

The bill for incorporating a bank (says the same paper) will in a day or two engage the attention of our legislature. The expediency of this measure will appear from the following considerations:—1st. The insufficiency of the capital of the present bank—2d. The dangers attending a monopoly of this business, and, 3d. The necessity of some establishment which may check the increasing influence of the general government, and its encroachments upon that of the state.—The capital of the New-York bank consists of 950,000 dollars: on this capital there was divided, for the last half year, seven per cent, and a much larger one is contemplated for the next. Allowing, then, for expenses and the undivided surplus of the last half year, the bank will, this year, make at least 21 per cent.

Discounts must of course, have been made to an amount three times exceeding that of their capital; and yet it is well known that many and good notes have been uniformly refused, and their inability alleged as the sole reason for such rejections.