The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1824-06-08

IN not, WIS never "A subject of investigation
with the Secretary, Hhth the notice taken
Of il in Mr.. Edwards address rendered the
inquiry necessary. After n thorough esa-
minailou, however, IT could not he found,
either among the records orrouBh drafts ;
bat, on referring, a5 a last resort, O. file ol
confidential correspondence whie1s is kept
by Mr.. Jones, the rough DRIFT of tli61etter
was there discovered. A COPY Of 1t Is
herewith Transmitted. According To the
views with which the correspondence " as
selected, under the first resolution of<1be
House, this letter was oue which would
h we been then communicated. 1t is be
linvrd, however, that the sentiments Hnd
opinions disclosed in il, are farfrom furnish
ing subject IF blame To the Secretary
and, rs he bad communicated letter Di
similar import, written AN the same day, 10
the Tombeckbe Bank, Il may be lnlerre d,
that il WAS never withheld by any impro-
per considerations of delicacy in respect 10
the mattersto which they both relate, from
communicating this letter also. IL - be-
Eryed that the letter to the T1nbeckhe
Bank. of the 9TH Of july, 1912. was also
marked " confidential" and the opinion IS
strengthened by the reference made 10 II as
-" confdentaI,p by the President of the
Bank, in his letter OF tie 18Th Of August,
1919. The word confidential" was pro-
badly omitted through inadvertence, IN the
copy that was RETAINED IN the Depart
ncnt and thus il went upon the ordinary
record. Ifthls opnlonis correct, the com
nunieatun OF this letter corrroboraies the
fact that the omisaiun to communicate the
letter To the Ilnntssil lie Bank, WAS not CIV
ing To the matters 1t contained, but to the
circumstance Of lis helng on II file not be
fore the person by whom tine correspond
ence WAS selected.
The Secretary is not aware, that anyo-
Their letters ON the confidential file apper
tain To the ebjetts oflhe presenrinqniry
He submits however, such df them us are
addresspdto banks, Ia the examination Of
the committee. He takes the occasion,
also, To tender IL the committee, rs he did
to the committee appointed under the re
solution of the 9th of February, 1898, the
inspeclicn of any of the records or ceres
pondrnce in the Department, that may he
d emed necessary 10 eiucidate any Of the
matt rs connected with the inquiry.
Having disposed of Ill the mindr topics
of accusation brought against the Secretary
by NJ. Edwards's Address, it now renaie3
10 notice the grave charge which he has
preferred of having mismanaged the ua
tional funds "A far as this charge is ioun
ded upon tie particular transactions which
have formed the subject df the foregoing
obscry ations, il is PRESUMED to be sufficient
~ refutcd. The only remaining ground of
charge then is, the measure of employing
the State Banks as repositories for the
public moneys in the western country.
L. ,,tI,i..t tho
sure was rendered necessary, and the views
with which it WAS adopted under the sane
ton ofthe President of the United States,
have already been explained IN the Secre
sary's report, of the nth February, l322,
and in his letter to the select committee, of
the 9th February, I822, to which a refer
enc. Is new requested. 1t may be proper,
however to remark, here, that, throughout
the whole Wrstcrnrountry, general aud
severe distress bad followed the resumption
Of specie payments On the part of the
Treasury, every disposition hid been an
tertaine, 10 make the demands of the 60
,ernnicut press lightly on usitcrng PEG
Pile. With tins view the Receivers and
{ oiicctOrs had been authorized, generally,
Ia receive in payments to the L. States all
the specie pay nS bank notes II circulation
aud the bank of the United States had Il
berally seconded the views of the Treasury
by authorizing the reception OF the funds
from The Receivers aud Collectors. This
experiment, though il gave relief To the
public deltors had been found injurious To
The ioeitdre of the bank and, bya proper
regard for It's own safety, that institution
considered itself constrained 10 decline the
reception ofalm0st all of those funds which
form the currency OF that portion Of the
country, and Of those which alone il could
prudentIy take, scarcely any were in circu
Iation. What effect that change had upon
HE state of things may he inferred from
, few extracts from some of the comma
nCationS which were about that time
made To the Secretary IN relation the sab
itct.
sThe debtors Of the United States" say
the Directors of the Bunk of Sincenncs, IN
their memorial of the 9th January, 1919,
F." in ihr western country, Labor under dis
tressng and almost insuperabe difficulties
in meeting their engagements not so
much from the want of means, as from the
scarcity of such funds as are receivable in
payment Of public lands. Should TIE coun
try continhe IN It's present situation with re
spcct To these funds, many an honest cit
zen, many an industrious farmer who has
migrated To this country, and has paid his
last eighty dollars AS first lnstalment on
his quarter cctiou at land, VIII he compel
led, at the end OF five years, To leave his ia
,orlt spot, his cabin, aud all the comfor
table improvements, which the labor OF his
own hands has acquired and, with his wife
and children, seek new home, without
money to procure it. And why because
the produce Of his farm, although be may
have an abundance to spare, Will not con-
maod such funds as the government de
mand for the completion of his payments"
Other IepI esenations, which are herewith
transmitted, from Senators and Rcprescn-
tatiyes. whose character IS Il sufficient nrar-