Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-06-29
james I. .NeKIesna. s:.s.,,. a. .se reques. Of

became soin 1911. The Bank has never had |
a loan or an Indulgence from the Treasury |
IL las always had the dcposite of the govern
ment fiom the Collector. 1t has made adyan-
ccs to the government, when under pressure,
and, at one time, demonstrated with MIR. Craw-
ford on the closencss with which the public de-
posites were drawn. The average amount oil
public money remaining in depositc, in this
Bank, since Mr. Crawford has been Secretary
of the Tr asmry, has been less, think, than il
was during the incu,nbency of Mr.. Gallatin.
}. l.. NIckENNA.
Jbmc 0.
had an agency i'll obtaining one of tue loans
made BY Mr.. Crawford, to tho Mechanics,
Bank of Alexandria, when that Bank was in
diilicalty. accompanied Mr.. Sanderson, i'm
his yisitto the Secretary, when he obtained the
second loan, and represented the injurious con-
sequences of permitting that Bank to fail II
redeemed, repeatedly, the notes of that Bank
out of tho hands of brokers and Others. Mr..
Crawford seemed dissatisfied at tie second an
plication SO soon after the loan of $780,, lie
applied to me formy opinion of the soivency of
the Bank, and whether the loan would enable
IL to redeem its paper. l represented the cir
c,imstanccs of the Bank as being safe, Ito the
extent Of its debts, but that its Stockholders
might lose,) though doubted the sulic,ency of
the loan 10 enable it To redeem its paper. | re-
presented the permitting the Mechanics Bank
To fail, rs being calculated to iniurc and the
granting of The loan TO the benefit materially
the commercial interests of Alexandria, and
Mr.. Crawford acGuesced in the whistles of Mr.
Sandcrson, and made the loan in drafts ON some
OF the Eastern Banks, in sums of =, 3, and L. 900
dollars each.
Question, by .fii.. E,l,rards. When a eonc-
raj dcpositc is made in your Bank, without any
thing being said on either side, is the amount
demandablc in cash?
.9ns,cer. Always-cycept when plate, or
notes Of distant Banks are left for safe-keepiug,
TO be delivered 10 order.
J. l.. McKENNA.
IfilitQin Rhodes, S1rorn, at The request of M.
Ed,cards.
was Cashier of the Franklin Bank of Alex
andria, from May 1916, to June, 1875 when
lett that bank 1t was indebted to the United
States, think in the sum of $4,000. can
| not certainly tell when it 5ccainc indebted, but
believe it was III 1913 or 1919. 1t became in
debtcd, as I understood, in consequence of all
application by Directors TO the Secretary
OF the Treasury for loan; there were, | be-
iievc, three such applications at the first re-
ceived $4,000, the second $4,000, and al the
third S 1000; the money was advanced to the
bank 10 relieve it from its cmbarrassinents.
| feel very certain as to the aggregate amount of
1900, but am not SO sure as to tho amount of
nor respecting the time when they were OBJ.
| tained. Ny impression is, that the loans were
all obtained within the course of about six
months. l cannot state whether interest was
or not to be allowed upon them. l have no far
thor knowledge Of the transaction than that
received the warrants from the Treasury, and
passed the amount to the credit of the United
States. now rccolcct that was, in one ia
stance, requested by the Directors to write
letter to the Secretary, requesting depositc in
onr bank, which did accordingly, but | do not
remember at what time nor whether it was be.
fore OF after the first loan.
WIN. RHODES.
Daniel RIu,ts, s,cora al he request Of Mr. Ed
acGrds.
lam Cashier ofIhc Bank ofColumba, AMI
have been for more than Two years. Since
have been Cashier the bank has been indebted TO
the United States, in all, about 100000. The
banl: was appointed agent for the Treasury, to
collect certain uncurrcnt money the Whole a.
mount above mentioned, did not, however, con-
sist of such collections; there were some baIan-
ces, about 10000, left from former transac-
tons with The Treasury. The sum have men
toned, was owing by the bank when | became
! cashier, and has remained about the same ever
since. When tie UiIi;cd States Bank went
into operation, the Bank OF Columbia owed tie
Government from $4,000 to $50, oG0-a part
| of which was drawn for by the Treasury say
about $4,000. The balance has not been
drawn for, and remains n cash debt to The Unit
Ell States.
do not know precisely what arrangement!
was made with the bank, respecting the colec-
tion ofuncurrent notes but have understood
that so iifti''i OF tioso notes the bank could
collect and turn tDio current money might re-
main in the bank ON deposite: but cannot state
for how long Zinc. AboutS 100000 worth of
uncurrent notes have been thus converted and
credited, as cash, 10 the Treasury; part of tie
residue has been drawn out BY the Secretary OF
the Treasury; and part remains now in the
bank. THESE nncurrcnt notes were part Of
those reported as urcoiectable by the Bank of
| the United States, and were received from that
Bank by an order Of Treasury.
Question. What is the amount of notes de-
iyered for collection, and what were the dates of
delivery, and specify or what Banks.
.4nssCer. The amount of notes delivered for
collection was S515, 1891 81, as appears bv a
statement now Delivered marked Il. in which
also The dates ofthe orders FOR the delivery of the
notes to the bank will appear. The notes were
actually received between the months of Decern-
Der, 1915, and August $40. The banks whose
| notes were so>receiyed, are so numerous, that it
has been impossible for me at this time to make
out tie list. A statement OF humber of them,
is however, contained in paper now deliy cred,
marked Y.
@. What were the amounts Of these notes
cashed by the bank,
a. S38,3dl 81, as also appears by the pa
per marked II.
@. What was the amount Of uncurrent notes
drawn ont of tho bark by the Treasury!
A. S123,102 SO, as appears by statement
now delivered, aud marked X.
q. NhaI is the an1n11ut of sifh urcurrn-.