The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-01-29
SATURDAY, January Is
Mr. Ecrd.u;.r a,,..,r.,J

SATURDAY, January I9
Mr.. GARDENER appeared.
AT the suggestion of the Speaker, he hav
ing something o CO umunicate which reqni
red secrecy, the doors were closed. add at
erten minures again op: ned
M M X M presented a nemorial rom
sundry inhabitants of Baltimore, nd one
from the Baltimore Insu ~ance Comp IN. bo.h
favorable Iotae rem Wa "a the cha, ter of Fin,
Bank of the u S.
Mr. GARDENER pres rnted a memorial
| om he NJ York insurance COMPANY
on the sane SUBJECT, a \ 70 The same etfec
PUBLIC DEPOS Is IN BANKS.
M LoUe S nj ne c sIdered the vote in
lcOnmit'ee OF the who :. as decisive of the
sense OF the House ag ,nst the renewal %,
the Charter Ut me u y ates' Bank comDany
IL was therefore neces try o provide imme
d'atsly for some other place of deposit for
the immense pr perry of e u Sta es i'm the
nands OF thd company, and that which yould
De IN lts hands JY The Il ne OF rs disso ution
u me law was not sepSaled which madei
ne duty OF he coiiec' ors to deposit the Gus
,om house bonds IN the :l=ntls e tha, hanL
nd US branches. l. was CT 10y a stake Of
'p Sreat Hagn'tude to Tier t to fall To the
| ands o! the executors oftne institution, about
to become d tunct, over whom no deDart-
! ment OF government would have even the
sembiance of check or control, now said m
exist oyeI the corpoaton itself 1t was stated
| IN report OF the Secretary fthe Treasury
Oh tne yin OF TINS mohth, III consequence of a
resolution OF this House, that OH The first If
March, there would probably be upwards of
! Si2,50O,000 of specie in the treasury. nearIt
the whole of which, it appears. would b. de
posted in this bank In the annual reoort
made on the 18th of Dece mber, il is stated
that tnere would be deposited for collection
bonds which are deemed good, to the amount
OF about . 100000, and that the importati
ons alter that time would be sufficient 10
| meet the debentures making, according to
ms Statement, deposit in all equal 10 8 13-
100000, on the first of March nsxt.
But it was obvious, the specie deposi, n,
tnat time would probably not only exceed, as
stated IN the report OF the On, but very
greatly exceed 5 100000 and small at
tention to those two reports will shew RI a,
the estimate of the secretary was mad
under the influence of very great cauti
o IN rating the resources of the govern
ment.
In the annual repor it was stated. that m
the 31st ct December, in lie year 1910. there
| would be probable specie balance ct q Q
| 000,000--:his balance was predica,ed ON ti,s
state ment under the head of" No 2. last
quarter of the year 1870" in which he re
CO'PIS ~ tndb quarter are carried out at g =
500 600 although in the first par, of that re
port 1t is stated, that it was believed thar
the net revenue arising from duties would
not tall Shnr OF $4,000 600 making for the
last quarter ut 1910, the sum of 1 500 OOO in
stead Of 100000 and indeed when the
time when i'm portitions Recommended is
recollected, and that they have from thence
to the present been as great of foreign mer
chandi2e, 1t not greater, than at any former
period tor the same length of time; when /,
IS considered that large portion of the du
ties did become payable during he last quar-
ter OF 1910, 1t cannot be asserted that the
| expectation OF receiving a nett sum Of e
100000 was unfoundcd. The same causes
wlll cer'alny warrant the expectation Of a
still larger receipt Of revenue in the ar,
| quar- er OF 1911, but, takirg il at the same
sum an1 tax 6 from it hs receipts after the
Isl o. March, would leave tor he receints n
The first Of March S s 100000, making total
otreceipts TO the first OF March of s 1000, 600
from which deducling wo months of exn,n
drure. amounting for current cxpences and
interest OF public debt to about 8 33g ooo
VIII leave the sur in specie in the treasurs
OF 5,oIO,OOO t"iS sun, with the deDosit
OF bonds, will nCtbe much short OF s II 600
900
In another point of view, Mr.. l.. snjd. i
might be important 70 take mediate stem
ior The removal oI the specie deposited. fron
the y. States bank; it nlight aid the bank,