Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-07-02
VIRGINIA, FRIDAY. JUDY D. ,ss4 -


cre.ary to The person having charge of the pa
/. q by ar. p. III which OF the Clerks 90 the
letters from the Receivers Of the Public Mo
neys.
a.. They remain witt, me, unless where they
contain inquiries for directions conccrninr the
kinds OF money to be received, and the place of
deposite, in which case they are considered as
pertaining 10 the duty of Mr.. Dickins.
Question by Nh. Cook. Where. and by
whom, were the copies of the v~oluninous docu-
inents iald before Congress the present session.
IN answer 10 a call for the correspondence ofthe
treasury with the Western Banks madeo
IA 1hatl IS 4 question which l cannot an
sTer very fully. / had no share in making ou,
those copies. Mr.. Dickins was engaged in su-
perintcnding that business, a Mr.. EIkins. a Mr..
fhi'pS, anda Mr.. ashington, were employed,
and Mr. Laub, an extra Clerk, in the Office.
Question by mr.. Cook. Was anv part Of the
correspondence taken away from tie depart
mcnt to be copied.
"A. l was told by EIr. Richards, who had the
largest portion of the letters from the banks In
ccPy, that he took tncm with him to Connect.
cut. also understood from Mr.. Elkins. that
he took some of those assigned him. 10 his LODI
,ngs. Those given to both these gentlemen
'O.b pbAho w tHc lIDt1fJllCnt u.
those given to the extra clerks were records ia
ken from the files OF the. Office.
Question by DHr. Coak. At what time did
tins copying Commences?
A. | think about the first OF last July.
Question by Nh. Cook. At what time was
il finished.
4. A few days Before the report went into
Congress; it occupied some days TO arrange So
great L number OF copies of letters, but as sooo
as that was done, and the report made out, the
whole WIS sent IN. | understood that tlle ar
ranSenienti intended was, that each letter s!lould
be followed by the answer to it, but | had no
hand in the business, from the commencement
TO tho end oft.
EDWARD JONES.
Clement SmiHs, slco.r,. n. The request of Mr..
Ed,cayus.
am President of the Farmers and lIccban-
les Bank of Georgetown, and have been for n
bout iour years. The bank has not been. i'm
that time, indebted to the United States, nor is
there 4 credit now on the books to the Un;Icj
States. G. SMITH
o'e'3on Carr, stco,t', at Tie request Of III.
Ed,oa1us.
] am Cashier of the Patriotic Bank, and have
been since its establishment in 1915. The
liank had one depositc from the Treasury Of
$4,000, on the 18th of September, 1919. II
was made at my request, in consequence of The
pressure then existing in the concerns of the
bank. 1t consistcd ola draft on Salem, Mas
sachusctts, for $4,000, Portsmouth $4,000, Bris-
toi $1,000, Petershurgh, $4,000. On tho 11lb
February, 1920, this loan was repaid by 4 de-
positc in the United States Branch Bank in this
CITY Interest ofsiX per cent. OH the dcposite.
aud a loss was sustained of J pc. cent in CON
vcrting these funds into cash, which was done
through the agency of brokers. The banks
drawn on were spccie-paying banks. and their
notes current IN their own states, Respectively.
The loss arose merely from the rate of excbaaae.
The Bank has never, before, or since, been in
dcbtcd to the United States.
oyERToN CARR.
{2icha'tl Snih, s'oo,1,, at tie request Of .h,..
Edtcards.
I arm Cashier of the Branch Bank of the II.
nlted States in this City, aui have been since its
institution.
Question by Mr.. Cook. In what manner was
the deposite OF Sii75 made by Col. Riddick in
that bank, and how was it credited to the Unit
ed States?
A. To the best of my recollection, it was
entered to the credit of the United States part
as cash and part as special deposite; perhaps
$780,, entered as special dcposite on paper of the
Franklin Bank of Alexandria, the residue on.
tered as cash. l have no memorandum will
me to refer 10, but presume the above to be the
transaction referred TO in the question.
Il. SMITH.
Thomas .S,caun, sroya, al Inc request of NJ.
Edscalyis.
Q. Please TO state al what time the transfer
ofthe effects of the Franklin Bank of AIcxan-
dria to the United States was. made, for the pur-
pose OF securing certain loans made to 1t by the
Treasury, and all the circumstance connected
with such transfer.
a.. ] was applied TO as the Attorney of the
United States for the District of Columbia. biz
the Secretary OF thc Treasury, sometime in tho
summer or fall OF 1921, to carry into effect an
agreement which hadbeen entered into between
the Secretary of the Treasury and the Franklin
Bank of Alexandria, in relation to a debt of a.
bout S43 900 due from the Franklin Bank TO the
United States. The agreement appeared 10
have been entered into on the Odd of August.
1921, and the Bank bound themselves to trans
fer TOWN. II. Crawford, and his successors in
Office, all the debts due to that bank, and all
the real %cstateof every description belonging TO
the bank, and all the notes given by the stock
holders of the bank, on account of stock by
ti,oia scycrally subscribed thereto. The real
estate was 10 d;si.oscd of on the most advanfa-
geois terms, and the whole amount of the mo-
ncys collected were TO be placed in the Bank
of Alexandria, to the credit oC the Treasurer ,rl
the United States. The debts were to be c,; (
looted by gradual instaliHcnts,- excepting tho
stock debts, which were 10 be applied. in tbc
first place, to the payment OF tic 6~e1ositos and
issncs thcn due from the bank; End, in the Sc
con1 place, 10 make up any dcGcien.v fbat
might be due TO the UDilel States. Schedules of
the debts due to the bark were annexed 10 the
agreement.
Very shortly aitor This application was madeI
by the Secretary of ihc Treasury, I brcparo1 \ |