The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1824-06-01
Making together,

Tie Kentucky bank notes mentioned III
the Sccrrtary's letter of the 2d of March,
1920, were not transferred, having been
otherwise disposed Of by the bank. Nor
were the Georgetown bank notes, men
toned in the same letter, then transferred
and II is only within few days, that the
Treasurer has received from the agent of
the Missouri Bank an order fer transferring
them.
That the notes thus received from the
bank, had been proPr taken by the Re
celycrs, will appear from the instructions
given TO those officers by the Secretary, co
pies of which are herewith transmitted
and that, At the time those instructions
were given, they werp considered, by the
Secretary, as note Of banks which dIschar
Erd their notes, IN specie, on demand, and
consequently, notes which, by the resolu-
ton of Congress Of the j0th April, 1916,
were authorized 10 be received in pay
mruts 60 the United States, is manifest
from the terms ofthe same instructions, IN
which the Receiver are positively inter
dicted from taking the notes Of any bank
which which does not discharged its notes
on demand IL specie.
That these notes were received by the
bank from the Receivers, during Ike first
arrangement with tie Treasury, and con-
sequcnty previous 10 its engagement to
account rs cash, aud that ut the time they
were Offered to the Secretary, they We're
actually in the possession Of the bank, is
established by evidence addnced by Mr..
Edwards himself This evidence is state
ment L, prepared II the Bank Of Missou-
ri, ana laid before tire Missouri Legislature
by committee which was appointed to
examine the report Of the bank, and which
committee represents itself, to have had
before it, and carefully eXamiucd the books,
notes, and such other papers of the bank as
were necessary. The statement is OF
moneys on hand, September 6, 1919, recei
we'd of the several Receivers Of public mo
uey5, being such as they were authorised to
receive by the honorable William II. Craw-
ford, Secretary of the Treasury." 1t pur-
ports To have been taken from register
kept by the Cashier OF the Bank from the
9Th August, 1913, Ia the 9Th Sept. 1919 :.
which period Includes oniy q days not
embraced by the first arrangement under
which the bank WAS accountable only in
kind. By this statement, it apFcars, that
the hank had then on hand, notes taken
from Receivers, Of a description not recei.
yahle by il on general depositc as cash
amounting to S569.OG4 ; of which S283,-
757, were of the kinds transferred by it to
the Treasury. Hence, it appears, that,
instead of the Secretary's having received
ofthe bank uncurrent notes, which he was
not bound to receive, the bank not only
took upon itself the conversion ip'ocasb or
the notes, 10 al large amount, which il had :.
right to pay over TO the Treasury in ,,i,5
but that Of the very dc, crptio3 or "otes
which Mr. Edwards las cen surpd ,ba So,
cretary for having eceivelI the bank had
actually right toreq9ire that he shonld
fecr'Ye mofs than double the amount of
Nat ne did receive.
Al would - a great mistake, however, TO
80, pose Lat thenotes which were received
" 'ne 1ank of Missouri were the notes of
.' JIrent banks. Those of the Bank of
tennessee ana It's branches, were mmedi-
ate!y placed to he credit of the Treasureras
cash; those ef the Nashville Bank and its
branches, and Of the North Carolina Bank.
have long since been paid Those of the
Mechanics Bank of Alexandria, Bank of
Marietta, and Bank of Steubenyille. were
cashed by the banks to which they were
transferred ; of those of the Miami Expur.
ting company, S5,220 10, have recently
oeen collected. Thus, of the whole amount