his own institution, while
the other banks were suspending their payments; but the credit of his
own bank was effectually secured by the suggestion of his cashier, Mr.
Simpson, who advised the recalling of his own notes by redeeming them
with specie, and by paying out the notes of the State banks. In this
mode not a single note of his own was suffered to be depreciated, and he
was thus enabled, in 1817, to contribute effectually to the restoration
of specie payments."

He was instrumental in securing the establishment of the new Bank of the
United States, and was its largest stockholder and one of its directors.
He even offered to unite his own institution with it upon certain
liberal conditions, which were refused. Yet he was always a firm friend
to it.

"One of the characteristics of Mr. Girard was his public spirit. At one
time he freely subscribed one hundred and ten thousand dollars for the
navigation of the Schuylkill; at another time he loaned the company two
hundred and sixty-five thousand eight hundred and fifty dollars. When
the credit of the State of Pennsylvania was prostrated by what was
believed to have been an injudicious system of internal improvement, and
it was found expedient for the Governor to resort to its metropolis in
order to replenish its coffers, he made a voluntary loan to Governor
Shultz of one hundred thousand dollars. So far was his disposition to
promote the fiscal prosperity of the country manifested, that, as late
as 1831, when the country was placed in extreme embarrassment from the
scarcity of money, he perceived the cause in the fact that the balance
of trade was against us to a considerable extent, and he accordingly
drew upon the house of Baring Brothers & Co. for bills of exchange to
the amount of twelve thousand pounds sterling, which he disposed of to
the Bank of the United States at an advance of ten per cent., which
draft was followed up by another for ten thousand, which was disposed of
in like manner to other institutions. This act tended to reduce the
value of bills, and the rate of exchange suddenly fell. The same spirit
which he manifested toward the national currency he exhibited to the
corporation of Philadelphia, by erecting new blocks of buildings, and
beautifying and adorning its streets; less, apparently, from a desire of
profit than from a wish to improve the place which was his adopted home,
and where he had reaped his fortunes. His subscription of two hundred