Publius On Banking: Or, the Money-Changers' Tables Overthrown

Samuel Williams

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For Ihold that all banfks must first borrow before they can lend, and yet 1 am of the opinion that they could better afford to pay the one hundred per cent, for the amOulit they re- quire, than your business could seven per o6nt.
J am of opinion that the free bai&ing^ i^stem of Digitized by Google tbis state, in the eourcie of time, will be able to over- come the difficulty, and as the state becomes a bor- rower, let every one who may wish to negotiate a circulating medium become a state financ...ier by hy- pothecating the state stock and isuing his bills of circulation, and as competition creates action, I have DO doubt but John Jacob Aster's paper will then readily command funds at seven per cent.
I am, &;c., Publius.
[Communicated for the Morning Star, 1st April.] LETTER III.
Bank Refor]»i.
Hon. Allen Ayrault, of the Senate Finance Com- mittee, State of New York.
Sir — Self-preservation requires eternal vigilance.
No delegated power should be appropriated to self- ish motives, or personal aggrandizement; the wel- fare of the people, and the improvement of the State, should receive every honest exertion.

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