Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-04-11
vth. II appears that a treasaryI
ota ne one hundred dollars. & bsnkI


,otes "a a small amount, which were
nnosed to be better than the mo-
.ey of the District Of Ca'uiniiia.
ave been returned to Post Masters !;
t,his transaction, so far as il reggsrds
"a hank notes returned, ia in cooior-
lauity with an order Of the Post Mas
.er General to his deputies, annexed
slo letter No. Q. The only reason
salledsed for returning the treasury
Inote is, that it might have been par
hased at discount by the Fos'
| Master who RENTED it.
8h The committee have ascer
I,ainpd that drafts to the amount on
lfsl.3i8 40 have been fisposed OF 10
jthe Union Bank sand 10 the amount
lof 1900 dollars TO the Washington
bank and to the amount OF 1888 30
TO individuals who were not puhiic
Ecreditors since the first OF October
Ii8i4 the commence ment ofgenerai
characterization Of bank paper. These
drafts appeared to have been ex-
lcl.ansed at par, and. except 10 fe"
|eases, for The paper OF the District
lof Columbia. /: is evident, from
I,he rate ofexchange daring this pc
Iriod between the District OF Coium-
lila and most ofthe places upcn*siieh
Ishese drafts were drawn, that the
must have derived an
advantage other than that OF Is mefs
transfer oftheir funds IL has not
lhaen in the power Of the com mst'ee
Ito ascertain the value Of their drafts
lin TIE paper of she District OF Co.
Iiumnia. having no means Of deter
mining. at the several dates, the re-
Ispeciiye rates Of exchange nor did
this appear 10 them very material.
las the amount Of proi; which aceru
ed to the purchasers could have nut
little influence upDD fhe principle
which must determine the pr0prIe-,
lty Of the measure. With respect
Ito the banks. II is stated that small
Ipronortion Of these DR. ats were sold
ifor prensinrn, some having been aX
Eehabged for specie, and Others used
for the payment of debts due to other
banks.
| 1t cannot. however. be Of any i'm
loortanee, (if the drafts were essen
Italy more valuable than the Dis
ltrict Of Columbia paper) whether
they were employed in the pa}nrnt
iof debts, sold for specie. or for bank
notes Of this district. With premi
lam for the difference OF value !;
ithe principle is 'he saiae in either
|eBSG S8893 4S,Pp .4lt.f!Iar nay be 'he
lais o. 'ae h aEs 81 tins irar7 p''f5it.
lihe sane vi be he amount Of d.
advantage 10 the government. III
ihoes not however appehr th9f any
ichanga hls taken Il in lhr prac
lice of the genera! p"sf Office de-
iDartment in this respect for ,eries
tot wears ana ~ the operation CON
iDi -ined of is evidently The effect of
an existing arrangement under al
chauge Of the circumstances Of
the circul ting medium, il is nmi
10 be presumed that the praf.,
tice has arisen out Of design ~
promote private interests. or Io
prejudice the interest OF the govern I
ment The committee are hGwefri
decidedly Of opiaioD, that tn" ID
vantage arising from the dilfsrei zee
Of exchange as so all the n"oies tat }
ARE due 10 the treasury. ought TO
laccrue exclusively 80 the gown
ment bat as the pest masterghe +
RAJ has expressed a willingness toI
pay over these balances in auy lay F..
that may best accommodate the Ii
Treasury, Department the e'i lad Is
mits az very simple remedy. il
9. The facts stated in this eHrge I
are admitted 10 be correct. anftic 4
letter Of the post master gajral,
(No. 40. contains a satistaetod ex I
PLANTATION of the reason tOP Airing :
the terms Of the contract que ion =;
whether too much was eyeHlaHJ a.
given for the service, under thqhaa- a,
ges required ny the pest MAST &c iii
neral, is subject net in the over
Of the committee 20 decide Dor nt