The enquirer. [volume] (Richmond, Va.) 1804-1815, 1812-01-25

on the table.
Treasury Befarfmenf, Jan. 1874. 1912.
SlR--i nave the honor in obedience to the
resolution of the House of REPRESENTATIVES,
of the 23d ult to transmit statement of thu
several banks in which the public monies are
now deposited, showing the greatest amount
that has been deposited in each bank at a.
ny period since the 4th day of March, 1911,
& also the amount deposited IN each bank nj,
the 3Oth of Sept. 1911.
The annexed correspondence, No. I to II,
raiates to the other subjects of inquiry en-
braced by the resolution of the House
AS soon as ithad been ascertained that the
charter of the bank of the u. S. would not
be renewed, a letter was addressed (Nn. l. 8
to the collectors of Boston, Ncw-York, Phila-
dclphia, Baltimore, Norfolk, Charleston &
Ncw-Orleans, directing them to cease to d.
posit custom-house bonds for collection IN
the bank of the u. S., or it's branches, t
withdraw those falling due after the Sd day
Of March, 1911, and to deposit thereaftc,'
she bonds in one OF more state banks, which
we're according to the information already
received, either pointed out or left at IN,
option of the collector. The only conditiaa
required in the first instance from the bank
" banks thus selected, was, that they should
IN their discounts, give the preference to pa
Der offered by persons having custom -nousl
ponds topay. This, considering the pressure
expected from the dissolution of the bank @.
he U. S., appeared of primary importanc,
towards facilitating and securing the colec-
ion of the revenue. There being no sta.
p4nk at Savannah, the collector of that POI,
Vas only directed to cease depositing the re
'enue bonds in the branch bank of the Uni
ed States.
The banks selected in conformity with tina
nc uara
At Boston, the Union and Massachusetrs
banks.
At n. Y, the Manhattan Company * Me-
chanics' bank
At Philadelphia, the bank Of Pennsylvania
and Farmers and Mechanics bank;
At Baltimore, the bank of Baltimore & the
Commercial and Farmers bank
At Norfolk, the branch of the bank of Vir-
ginia !;
At Charleston, the State bank;
At New-Orleans, the bank of Louisiana.
Partial deposits had previously been made
III the bank of Pennsylvania, aud with Sho
Manhattan Company, as was in former re
port stated to Congress. At Norfolk & New
Orleans there was no choice, as only one
bank was established in each of those two CT
ties. The revenue bonds are divided equal
ly ut Philadelphia between the two banks
employed there. The collectors of n. Y.
AID Baltimore have been directed to deposit
bout two-thirds of the bonds With the Man
attain Company and the bank OF Baltimore
and the other thirl ii the "
Their bank employed in each place. The col
iector of Boston deposits indiscriminatelv III
the Union'S massachusetts banks, but gene
rally to a large amount in the first.
Ali those banks, with the exception of thai
of Norfolk, explicitly assented to the cond-
tion required, and transmitted answers SINH
lar in substance to that given by the bank OF
Pennsylvania, (No. g. The answer of the
bank at Norfolk NO. 81 was also in the af
but more cautiously expressed =
There being but one bank in Virginia which
must necessarily De employed, and the pub
lie deposits compared with It's capital beng
inconsiderable, it was thought ineligible TO
ask any other Conditions,S & the latter (No. 81
was accordingly written.
To all the other banks above mentioned
the letter No. ~ was written, informing
them that monthly statement of their si1t-
alton, which would be considered as conf
Dental, and the same accommodation in the
transmission of public monies as had heretd-
fore been received from the bank of the o.
s., would be expected from them. From al
Of them, the State bank Of South CAROLYN.
excepted, an answer in the affirmative was
received, similar in substance to that given
by the bank of Pennsylvania, (No. s. The
answer of the State bank was modified tv
reason Of some particular provisions in lis
charter. The answer and the reply t. 1t
are marked No. Z and 8. If the alterations
n the charter therein alluded to are not OBJ
tanned, it may hereafter become necessary
to place the public fhonies collected at
Charles; OH IN another bank.
Previous to the establishment Of the branch
bank of the u. ). at Washington, the bank
I Columbia had been employed in paying
the dividends on the public debt, Sc transac-
ting all the treasury business at the seat OK
government. 1t had afterwards continued
to receive partial deposits, arising from the
sources stated in Il former report e since
the dissolution of the bank of the r. s., the
treasury payments have been made through
hlt bank and that of Washin ton in
the manner explained in the letters NJ. 9 10
IS.
The dividends on the public debt, former
" paid at the bank Of the II. ). & rs bran
chcs, arc now paid at Boston by the Union
bank, at Newly ork by the Manhattan com 10
pany, at Philadelphia BY the bnns OF Penn
sylvania, at Washington by tho bank Of CO.
'1mbia, & at Charleston by the state bank.
The other banks in which public monies
had previously been and continue to be de-
posted, are those of Maine and Saco, IL the
district of Maine Roger Williams & New
port, in the State of Rhode Island Alexan-
Iria, in the district of Columbia Marietta.
II the STATE Of Ohio, Kentucky, in that state.
and the Office of the bank OF PENNSYLVANIA
ut PistsJ'Wg. I'm the three last deposits are