Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-07-02

~. i OCnCfc tUCN Ohli " Wv "a
lars rs cents; this l take from a memorandum
i'll my possersion.
Q. Were any of the notes received from
him refused 10 be received as cash, and were
they specially entered? lfso, state the circum-
stances, and whether General Smith was APP
priscd thereof.
A. Gen. smith very seldom made his depo-
sites in person. His Office being near 900
miles from the bank, they were generally placed
in bank by some pocson i'll whom the General
had confidence, travelling 10 st. Louis or to
the Eastward, or by boats trading on the Mis-
souri, river. l do not remember that the bank
ever had any difficulty with Gen. Smith or any
other person, about his dcpositcs. believe
they were always made in the same funds which
he received for lands, and certificates were is
sued to him by the Cashier, stating the kind Of
funds deposited, which certificates were. no
doubt, forwarded by him to the Treasury De-
partmcut, rs vouchers.
q. What amount of internal taxes we're de-
posted, much or little?
A. j do not remember of any deposites be-
ing made of that description.
q. by Mr.. Forsyth. When were the depo,
sites OF the Tennessee paper made by the Bank
of Missouri, at Louisville
A. l believe in May 1920, having promised
Mr.. Crawford to have it forwarded as soon as |
arrived at st. Louis, which was done by a spe-
cial agent. l was afterwards informed that
wv e0Sbt VI Nhb DUlN receiver tie
amount Of the Nashville Bank paper, but that
the agent ofthc Tennessee Bank had left Lou
isville u short time before the arrival of the
special agent of the Missouri Bank at Louisville.
and depositcdi it III the Branch Bank ofthe Uni
ted States.
Thomas F. Riidick, states, that, while a Di-
rector of the bank, he had access, at all times.
to the books and papers of the bank, being
nominated by the President to act i'm his place
pro tenn, when he was absent at his farm, or was
holding Indian treaties, otherwise unable to at
tend; that he counted the Tennessee and other
paper transferred to the Treasury, before the
proposition oil the 9th August, 1919, was made,
and that he took with him, when he left ST.
Louis for Washington city, in December 1919.
4 considerable part of the funds intended to be
transferred and made Il depositc at Chillicothe.
and i'll the Branch Bank of the United States.
at Washington, which deposites made a part of
the charge against hun as agent of the bank, as
contained in the monthly returns made to the
Treasury in the months of January and Febru-
airy, 1920. Also. that what l have stated be-
fore :he committee of my own knowledge is
true, AMI what L have stated as mattcr.of opin-
ion, | believe to be true.
q. by Mr.. Cook. When Won discounted
notes for individuals, in what kind of money
did you advance the amount of such notes?
~. those discounts were usually left in de-
positc, and drawn for in small sums at different
times. They were thou paid, generally. in
notes of the Bank of Missouri, or in such funds
as the bank had at the time, or as the partv
demanded. ~
&. Did not the amount of discounts by the
Bank of Missouri always very greatly exceed
the amount OF its notes, in circulation?
A.. 1t is my impression that it always rrcat-
ly exceeded that amount.
u. Did not SO much of the money advanced
for discounts, as exceeded the amount of the
oanhs own paper, consist of moneys deposited
IN 1t by the government
a. ltconsisted i'll part of sue. moneys, but
not wholly, because some part of those moneys
were III notes that the bank could not use.
q. Did the bank ever refuse to receive de-
positcs made by Gen. Smith, as cash,
a. 30 much OF the deposite as was received
is cash; SO much OF 1t as consisted Of bills was
recelPtcd tor as such; but the whole amount
was credited together, without distinction.
q. Did you, in receiving deposites from the
paper and of cash?
n. "A memorandum of the sort of funds re-
ceivcd was kept by the Cashier; but it did not
so INTO the books Of the bank. But. in private
accounts with Individuals, a separate accom-
was, IN some instances, kept for cash and for
notes, by inserting in the ledger, Opposite to the
sums paid, the words e'ca,h,n or seforeirn notas -
as the case might be. When dcnos;to. We
made on accounted the United States. a certis-
cate was issued by the Cashier, stating wbethc,
the dcposite had been made i'm cash, or in sucI,
notes as the Land Offices were directed TO re-
ceive.
Q. Was not the principal part of tbe r,,Js
deposited by government in the Bank of Mis-.
souri,, transferred to the Brancl, Bank of the IT
States, at Louisville, and.to other banks in
Kentucky. ' !"
A. There was no transfer made TO any other
bank In Kentucky, hut the bank at Lonisv;lIo
Inc transfers made by the bank will appear il,
Inc communication OF the Treasurer No. ,. da-
ted March 1st, 1923.
o. Were not the funds which you saw woro
worth four per cent. premium, and paid over bv
the bank to government, derived from tbe oo-
vernmcntd cpositcs, O.
! "A. Some part of them might have been: the
greater part was by the purchase of bills on tbc
government, sent to the Bank of the United
states, at Philadelphia, and to the Branch RAM,
OF the United States at Washington CITY, for
collection on the part of the bank.
=. Were not these bills paid for in thc f,,nds
that bad been deposited in the bank bv the oo.
vcrnment?
A.. Tlcy were paid for out of the reneral
funds of the bank. ~
q. Did such general fund embrace the pub.
lie dcposites, pun
l.. There was no distinct account ken, bo-
tween the public fund and the general fund of
the bank. ''"u
W was any premium paid by the bank on
nose government bills in their purchase , and
fso, OH how many, and to what amount
a. "a premium was frequently paid bv the
bank upon such purchase. T cannot say. vv;tb
out n reference to the books of the bank ,o
what amount. a premium of two per cent. has
III some cases bcen paid, but it varied from mar
TO one and a halfand two per cent. When tbc
hank sold fbpir pur, LII - IL