Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-06-04
HOUSE OF REPRESENTATIVES, IS.


.3ddres, Of .Ntaian Ed,cards.
HOUSE OF REPRESENTATIVES. 25.
The Select Committee, to which was referred the
memorial, d address, of Ninian Edwards, report
That, Immediately their appointment, rs the
House has already been informed, they con'nuui-
Gated copy of this address to the Secretary of the
Treasury; and they also ordered the attendance OF
Mr., Edwards, TO be examined before thcm as wit
ness, touching the various charges in the memorial.
For although, in that address, he refers to papers
and docu,pcnts, accessible to the committee without
his presence, the main supports OF his charges,
yet the committee of opinion that these char
gcs were not such as should DC either lightly made,
ar specifically examined; and that it ought not to
content itself with any investigation short of in
which the accuser should have an opportunity of
being personally present, the better to sustain the
charges if they capable OF being susta nd, OK
TO bear the proper responsibility, it, falling
tain thein he should appear to have brought them
forward, in form thus positive and imposing, from
personal and improper motives, or upon frivolous
pretexts. And the committee is still of opinion, that
sinve tigation ought be finally closed with
out the personal examination of MIR. Edwards; and,
m proceeding to make any report on the subject, at
the present time, and before such an examination
is had, the committee acts only from the necessity
imposed upon it, by the approaching close of the
session. and by a sense of duty which dictates that
it ought not to postpone, to distant day, all com,
,nuhication 10 the House subject so interesting
TO the Government, and nearly affecting the hon.
AMI integrity of one of its highest officers.
Under the influence of these motives, the commit
Tee makes this report, the result of its examna-
fion OF the papers referred TO in the address, and
such other proofs the committee could command.
Whatsoever is here saih therefore, be received
with the qualification, thar, although the committee
do not know that MIR. Edwards, if present, could
communicate any fact likely to be important, they
tlo not know, the other hand, thar he might not
DO so and ne has had no opportunity TO be examn-
ed, to give any reply the of the Secre-
tary, which the committee has received, and which
has already been printed, by order of the House.
The address contains two general charges against
the Secretary; one, OF m'managing the public
funds under which, various illegal transactions are
alleged, in reference to the deposite of the public
moneys in certain banks, and the mode in which
such moneys allowed, afterwards, to be repaid;
the other, rnputing the Secretary the suppression
papers and documents, or failing to communicate
them, when they ought To have been communicated,
in answer to resolutions of the Houses Of Congress.
The committee has given its attention to each OF
these divisions Of charge.
And, first, to the conduct of the Treasury Dc
parment, in regard to the depostes of the public ui-
neys in the banks, and the manner i'll which such
banks allowed TO repay to the Treasury the ba
iapces of such deposites:
BY the resolution of Congress of April 30th, 1876
1t is declared, That the Secretary of the Treasury
be- and he hereby is, required and directed TO adopt
such measures as he may deem necessary, to cause,
Of money, accruing, or becoming payable, to the U
nited States, be collected and paid in the legal
currency of the United States, Treasury notes.
notes of rhe Bank of tho United States, by law
provided and declared, in the notes of banks
which payable and paid, on demand, in the said
legal currency of the United States and that, from
and after the Goth day of February next, no such
duties, taxes debts, or sums of money, accruing,
becoming payable, to the United States, as afofa
slid, ou7ht to he collected received, otherwiss
in ~ LEGAL of the United StataS. Dr
Treasury notes, notes OF the Bank OF the uited
States, or IN sotes of banks which payable ar.t
paid, demand, in the said legal currency of the
United States
At the time OF the adoption Of this resolution.
debts accruing the United States, whether on ac-
of the sales of public Lands, at the custom,
house, from other sources of revenue, were, ~
fact received, III some parts Of the country, but cv-
Gently III disre gard of the law i'll the of the
state banks which did not redeem their paper By
cash payments. By this resolution, it was obvons
lstie duty OF the Treasurer to correct that depar
turc from law. Is soon a. practicable; and il was.
as is equally obvious imperative Oh the Department
iter the Goth February, 1917, to allow nothing to
be received in payment of debts due to the United
States, but the legal money of the United States,
Treasury notes, notes of the Bank of the United
States, OF of those state banks the notes of which
were payable and paid, on demand, in cash.
The Bank Of the United States was incorporated
April, 1916, and went into operation at the COM
mencement of the next year. By the act OF incor-
poration, il is provided and declared that the de-
poSites of the money of the United States in places
in which the said bank and branches thereof ma V
be established, shall be made in said bank & bran
ches thereof unless the Secretary of the Treasury
shall, at any time, otherwise order and direct: in
which case the Secretary of the Treasury shall i'm
ediately lay before Congress, if in session. and i.
not, immediately after the commencement Of the
session, the reasons Of such order CT direct
on.n
The present Secretary of the Treasury was ap-
pointed to that Office in October, 1916.
In the early part of the year 1917, it is represent
ed by the Secretary, and appears to be true, that
arrangement was made with the Bank of the Unite I
States, by which the public funds to be depo-
sited in the branches of that institutions in all places
where such branches existed; and where there were
no sseeh branches, that bank was to signate
tain state banks for which it would be responsible,
and in which such public moneys should be deposit
ed and notes of all banks, which the Bank of the
United States would receive i'll deposite cash. AMI
none other, be received on sales Of the pub
lie lands.
1t IS further represented, that in the execution of
this arrangement, difficulties & controversies arose
bstwecu the Bank ot the United States and the state
banks thus eyNpioyed In receiving the dcposites of
the public money!; and, long, the Bank of the
United States signhcd to the Department of the
Treasury, that it could continue such arrange
r1cnt and that, thcnccfOrward 1t could receive
tDg in depositc, cash, but the legal currency Of
tho country, for its notes The agreement with
the Bank of the United States erminated for these
reasons, the Both June, 1918.
1t would appear, that many of the state banks
which had in 1917, resumed specie payments, soon
after this period. that is say, in the latter part Of
1918, discontinued such payments; and that the
debt due to the United States, account of the
sales Of the public land, had very greatly increased
s.uountiuu. iu tltp carly M ~ of 1910 IN