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The Rhode Island Republican
Newport, Newport County, Rhode Island
What is this article about?
Editorial from Baltimore Whig reports a London merchant investing in US Bank stock due to English instability, affirming confidence in American funds amid charter expiration concerns and warnings against unconstitutional banks.
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Has come to our knowledge, which proves that not one cent of the United States Bank Stock would quit this country at the expiration of the Charter. A merchant in London writes his friend in Baltimore, that he was afraid to insure the vessel, &c. in London, as there was no confidence between man and man; that they daily were in dread of some terrible shock: therefore, he adds, I vest the proceeds of cargo, &c. in American stock.
Now, we affirm, that no man who regards money will place it in English funds; and we have nothing to fear except from a disastrous trade, further submission, and unconstitutional Banks.
Balt. Whig.
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Where did it happen?
Domestic News Details
Primary Location
Baltimore
Event Details
A merchant in London wrote to his friend in Baltimore expressing fear of insuring vessels due to lack of confidence and dread of a shock in England, leading him to invest proceeds in American stock, proving no US Bank stock would leave the country at charter expiration. The article affirms no one will place money in English funds and fears only disastrous trade, submission, and unconstitutional banks.