Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-06-29

now been stated, with the unanimous concur
renee of the Reiahers present. Other points
thee are, OF less Importance, but which may,
nevertheless, be supposed not to have escaped
consideration by the Committc. These, howe
yer, under all the circumstances, they have
thought II prnper 10 leave, without observation
IN the light III which the placed by the ev-
iIcnCe.
TESTIMONY AND DOCUMENTS,
.7cc7a,yp psying tie Report Of the Special Conn
m.t:ee 2fEte H,ase IF Representatives.,
on The MEMoatAr. or SINIAN EDWARDS.
Jsm:.s L'oyi, Of the Senate, sucorn, at the re-
quest Of Mr.. Ed,cdrds.
Questions by Mr. Cook, in Mr.. Edwards behalf
Question. State ifyou please, what is meant
by special deposite made in banking insttuti-
Ors.
Answer. That will depend on the custom of
the, place, or the usage oil the hank where the
deposite is made. special depositc is net a
very definite term. A piece of blank paper
said 10 contain thousand dollars, may be a spc-
ciai dcposite; as may he bundle of notes left
at a bank for collection or safe keeping. Some
banks receive special dcrositc paper issued
by other banks in t!<; same state, or il other
states, aud which is repaid by the bank receiv-
ne it in the same bills as those in which il W.;
mattel. | should consider as special deposi lc
that which did not mix IHinglc with tie
general circulation oithc bane.
q. Are special depo5itcs ever made without
designating the amount and description of mo
ncy, oi the thing deposited
a. l should thini1 they were, sometimes,
merely for the purpose OF saie-kccpip~. More
generally, there would be a label on the out
de, specifying the contents Of tl!c bundle, box,
&c. deposited. Ii may DC MOTEL in the memo
ranluin book Of the Cashier. but does not enter
INTO the transactions or records of the bank at
a!l.-Plate IS often deposited in this tuanaer, &
other valuable articles. In one OF the Boston
banks, have now opposite or this dcscripti-
On
G.. When ttepostas are made for safe-kccp-
ing, is 1T ever understood that The bI.ll is al
lowed TO trade upon them rs It's Own fands
a. Never, | believe. So;ne OF the banks in
Massachusetts keep accounts in two kinds OF
money Boston ulcney, for example,, and TO-
reign money; which latter t:..ans bills Of banks
located out Of tic city. If 2 sum ~ .aepasit-,-,
rcpayabie in foreign ,noney, the banks dosig-
nate a list, generally posted in the banking
house, n certain number of banks whose bills
they will receive as " foreign money" whic!i
money they use ana if they repay tie sum
deposited III the bills ofthcsa banks, they deem
the contract fulfilled If any one OF these
banks becomes insolycnt previous 10 The pay
Its ciiis the ris;1 of the loss thence acc,u-
ing.
q. When depositc is made Of foreign mo-
ncy, suca as is not received rs general de9o-
site, bat subject TO be refur!edto the l'eposito-
in paper of similar kind to that deposited if
paper OF n similar kind, at the time Of making
the dcpo5tc, should afterwards la2rcciate in va
lac, would the dcposor be bound to receive i;
in It's deprecated state in payment olsuch de-
posite
i. aao;.i 5:,y YES - question 0.,'- sre>
ciiic; but 20 uyt iaJw whether, strictly corr
sidered, the NOES q iuJorcti bar,zs can he
viewed IS p!ac!sa.y uaar ii TIC boH!, zp--
c!dcs beforehand III what r1Sacf i viii repay
it is special contract, and the 3a9os,tor must
abide By ,.s own asree.naDF. Eat, II one Of the
bauHs IA whose paper tao 'ioposi,e IS agreed To
bc r PAD, tas subsequently, fsiic.!, the bank re
ceiYiag the depositc would not, in my opinion,
lie aLtiorizel 10 repay the dcposi:e in the notes
OF slca bank - '..g.j ;A.:s failed. What rate of
C.c2rsa tt.,a 75a. Ia,iiy bank in Offering TO
pas, or = .cro..t.r N refusing 20 receive, deprc-
cii.ts. .:o.es, / cannot state.
Z. Mere money @; any description is
depc- 81 j.. any bank AMI Is mingled with the
fla4s q, such bank generally, and the bank uses
il 10 il general transactions, IS not such bank
aiHaYs Considered liable TO pay the amount in
L III money 10 tnc deposition
i. -hoal.l consider the bank liable, is the
utlJ-isc Is rSce! u ana CSctit4I as general de-
Ias:tc.
Quc;iioas by M. TVetster
q. By 4 general icPositc, yol undorst and
dcpJsitc 10 DC c.cditc i Is cash in account?
"A. Yes.
q. ty a special dcposc you understand q
deposij2 t,F safe keeping merely,
\. fesi ora dcp),tc OIL particular coudi-
ti.as,
Z. f there be le9o,ite Of an intermediate
character bct#ccna general depo5ite and Dr.
for sale keeping, Were, trough tie par
notes deposited may l,c used or put in
alton o. the bank, yet the bank is not an
able fer the amount in cash; do tie rights
parties, in such case, depend mainly on
~ contract or agreement or IS there any
Rner@ii )ank usage which would govern the
Ease
4. know of no established usage. The
conditions of ti,c dcposi!c are Indicated by The
terms prescribed b. tho baa.l from time 10 time.
which are frequently varied By it according TO
its sense Gifts Own interest.
q. Is y11r knowledge Of bank usage con
f1ei principally to tlat prevailing IN tie banks
ofthe Atlantic cite or does it include the u
sage oftbe Western banks
y. Il is confined wholly 10 the fornnor.
JAMES LLOYD.
Hugh L. Vliie Sic1ro, at lie ,'e7uea If 5fr
kdrnTAs.
Quesfioa by .|r. Ednvdy-IIavc you any
recollection of the sum of forty th' usand ono