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Updated: May 27, 2025
In 1811, the charter of the old United States Bank expired; and the casting-vote of Vice-President George Clinton negatived the bill for rechartering it. When war was imminent, Girard had a million dollars in the bank of Baring Brothers in London.
Why, I chartered the entire fleet of one shipping firm in Boston. I had to pay a stiffer rate for the others; but " "How long did you charter them for?" Cappy yelled. "Quick! Tell me!" "All for a year, with the privilege of renewal at a ten per cent. advance. I had no difficulty in rechartering to the men who had been asleep on the job.
In his annual report as Secretary of the Treasury, McLane actually made an argument for rechartering the Bank; and in his message of the 6th of December the President said that, while he still held "the opinions heretofore expressed in relation to the Bank as at present organized," he would "leave it for the present to the investigation of an enlightened people and their representatives."
Matt concluded that he would retain his job as master of the tug Sea Fox for a few months say six and then ask Cappy Ricks for twenty thousand dollars, which amount would by that time be to his credit on the Blue Star books by reason of his half-interest in the seventy-five-dollar-a-day profit he and Cappy had annexed when rechartering the steamer Unicorn.
It has been urged as an argument in favor of rechartering the present bank that the calling in its loans will produce great embarrassment and distress. The time allowed to close its concerns is ample, and if it has been well managed its pressure will be light, and heavy only in case its management has been bad.
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