243 
*ne tragedy in the trim drefs of rhyme : 
what is. wanting, but a due attention to 
the fubjeét, to extend the profcription 
which has banifhed rhyme from the Eng- 
lith ftage, to all ferious poetry ? 
Whether the Englith language admits 
of any fubftirute for rhyme, by which 
the end of a verfe may be as diftinétly 
marked, as by the dactyl and fpondee in 
hexameters; whether varieties of verfe, 
compofed of regular feet, fimilar to thofe 
of the ancient lyrics, can be fuccefsfully 
attempted ; or, whether it be more fa- 
-vourable to the genuine fpirit and pri-. 
maryend of poetry, that metrical melody 
thould remain in the irregular and defec- 
tive ftate in which it appears in our 
blank verfe, are queftions ftill left fad 
judile. : 

Io the Editor of the Monthiy Magazine. 
SIR, 
Pur eftablifhment of country banks, 
for the éxprefs purpofe of becoming 
negotiators to the public, has not been 
introduced much more than thirty years, 
but fomething of a fimilar accommo- 
‘dation, through the medium of large 
fhopkeepers, or of private individuals, 
who practifed in drawing bills, or ex- 
changing them for cafh, has been always 
found neceffary; and is a fair conclufion, 
that without fome ‘fuch accommodation, 
the internal trade and manufactures 
could never be fupplied. 
Another fource of fupply was alfo 
formerly drawn from the colle€tors and 
receivers of the revenue, who difcounted 
bills for their immediate friends; but, 
as they were confined toa large town or 
two in each county, and their. receipts 
were. feldom more than adequate to the 
demand for money where they happened 
to refide, the reft of the county have 
been ‘known to fuffer the utmoft diftrefs 
to get bilis drawn, or to difeount fuch as 
they wanted to convert inte money. 
~» From the increafe of trade, thefe dif- 
ficulties proportionably increafing, the 
tranfition from a partial and dependent 
fupply, drawn from private individuals, 
to eftablithed banks, appears to have 
arifen, and gave permanency to fuch in- 
fitutions as would make it a-bufinefs to 
provide that accommodation, which the 
increafed trade and confumption of every 
town and village required. From thefe 
well-known facts, it is demonftrable, 
tiat though banks, for the exprefs pur- 
pofe of fupplying the country, are of 
Tate 
tate «late: yet, lefs dineét, though’ much 
lets efficient, mediums ef fupply have 
Origin and Utility of Country Banks. 
[April, 
always been found abfolutely neceffary” 
The general utility of provinctal banks i8 
reduced to this fimple propofition—whe- 
ther, from paft experience, the country, 
in the enlarged ftate of its commerce and 
manufaétures, could be fufficiently pro- 
vided with bills and difcounting with- 
‘out’ the affiftance of country banks ? 
The public, before they withdraw their 
paft confidence in their own paper circu- 
lation, which they have always com- 
pletely in their power to reitram, when 
it becomes exceiiive, fhould refleét, thar, 
by a capricious rejection of private notes, 
they will bring upon themfelves an in- 
undacion of bank paper, the fubftituting 
of which in the place of provincial nores, 
will operate ftill more effeétually to ex- 
clide the circulation of {pecie; for, 
whilft country notes are encouraged, 
fome proportion of f{pecie to the quan- 
tity of paper iflued, muit, and is, always 
kept withia command by the banker, to 
accommodate the want of his cuftomers. 
But it cannot be expeéied the bankers 
\. 
-can. afford to keep {pecic to exchange 
bank notes; this will unavoidably efta- 
blith the mitchief fo generaily complained 
of by the introduction of paper, beyond 
all calculation, and beyond any future 
means to procure a proper fupply of 
{pecie. 
Since the introduction of country 
banks, gentlemen and: farmers im the 
neighbourhood, who have had no imme- 
diate employ for their money, or the 
income of their eftates, concentre in 
one point a capital, for general ufe, by 
depohting their money with a banker, 
Hence it follows, that fo much of the 
money as is the appropriate property of 
every county, ts held by the banker, 
and applied to the affiftance of indryi- 
luals, encourages a {pirit of induftry, 
by fupporting a vigorous circulation for 
the purpofe of trade, even in thofe parts 
which are moft remote from the metro- ~ 
polis. In all thofe places which have - 
been fufficient to encourage a plurality 
of banks, it has been experienced, that 
the competition has contributed to the 
public accommodation, there being, in 
many large manufacturing and com- 
mercizl. places, fimilar engagements, 
which gould not, with propriety, be en- 
trufted with the fame houfe. without 
eing expofed to rivalihip, and, in fome 
cafes, liable to become a temptation to 
make interefted) and oppretlive difs 
tindtions. between perfons alike deferv- 
ing of credit, The effeéts of the ex- 
ten/ive paper circulation muit not be 
judged- 
