Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-06-08
PIEEiC DOCUMENT.
REPORT
Of Tie Select Committee TO tcl.om ,cas referred tie
ADDRESS Of .Niaian Ed,rards.
IcoNcIuDrD1

The amount Of money collected on account Of
internal taxes & from the sales of the public lands
mostly the latter since 1916, is stated by the Sccre
tary, twenty-one millions of dollars. If of this
sum, half million should be lost by means of the
future of the banks which have stopped payment,
the loss would be less than and i half per cent
tho whole sum.
Considering the great and violent shock which
credit of all kinds has sustained within this period
in the western states and comparing this amount of
loss, If il should eventually happen, with that of the
Bank Of the United States, of other banks, and of
individuals, arising in the part of the country,
from similar causes; the committee is of opinion,
that the result does not shew in the Treasury De-
partnent any want either of fidelity prudence in
the management of the public funds.
The other division of the charge contained in the
address, relates TO the alleged suppression, with
holding of papers called for by different resolutions
OF the Houses OF Congress.
One specification under this head is that relating
- the correspondence between the Secretary and
MIR. Stephenson, the President of tho Edwardsvic
Bank. The opinion of the committee on that SUBJ
ject has been already given, and need not be re-
Peated.
Another relates to the CORE spondcncc with the
several Western banks generally. The charge is,
that material parts OF il retained, when all was
called for by the House,
The hrst call was made the 9th January, 1920
and was, as the committee think, limited i'm its pro
per constructionto requisiton for the CORRESPOND
sites
III inns way, the Secretary says, he understood il ::
but that he did, nevertheless transmit letters not d
rcctiy embraced by the resolution, but which, he
thought, were necessary to elucidat c the subject
The next resolution was on the 10Th of March, in
ihe same year, and the only correspondence it called
Tor, was that OF the Missouri Bank and there is no
reason TO believe that this was not substantially
complied with.
a third call was made in the Same year. on the
eth oil May, requiring the correspondence with all
Che banks that had not before been commupica ted
The committee have not been able TO discover in
the very yotuminouS return this last resolution
any material letters not before communicated ex
cept circular instruction the Western banks
directing them to note, on the back of each return
OF the Ireasufers account, description of the mo-
eys credited III such return and the amount of
according TO form of return therein gwen This
form is the with that in which the return, ro
fefrcd to IN Mr. Edwards's address, marked +. is
made out. This circumstance would seem to give
q greater weight to the evidence to be drawn from
that paper, considering it official document
intended for the Treasury, under the agreement.
Another charge of suppressiop, incidental made
but which the committee deemed il proper to notice
relates to report made by the Secretary in obcd-
to resolution OF the House of the .ilst De-
cember, 1919, calling for such information as he
possessed, in relation the introduction of slaves
into the United States. On this point the commit.
tee addressed inquiry TO the Secretary and re-
ceived from him the answer annexed 20 this reDort
marked T..
Although they arc Of opinion that there were ma
Jers IN the Department containing nforma ton called
FOR by the resolution, and which ought &c have bccn
communicated, yet Judging frcnfthe statement ma
by the Secretary, in his answer connected with rho
tact that the papers in question were coInmunica-
ted to the Attorney General il is the opinion of tho
committee that the omission not caused by
design To screen the person implicated from punish
ment or blame
As to the other cases in which the Secretary is
charged III the address, with having suppressed or
withheld papers information called for by the
Rouse OF Congress, the conrittecis OF opinion that
although papers coming within the scope of the re-
solutlon or call, were not, in some instances COM
municated, such omissions were either the result
OF accident, ofa belief the part of the Sccreta-
ry or OF the persons necessarily cmployd by him on
such occasions, that the papers omitted were not
called Tor, or were not material and the commit
-tes have seen no evidence that any documents or
informaton has been withheld from the House.
fromthe operation ofany improper motive or design
The conclusioR Of The Report zee hare already
pu5lia.ed.]
3.
Conditions proposed by Tic Secretary of the TJcn-
Sury TO the bank Of Missouri, for he future en-
i,!0yH,e't Of that bank as u depository Of pu5lic
moneys.
1st The bank will receive from the Receivers nf
site on account OF the Treasury, the paper of such
banks pay their notes in specie on demand, or are
otherwise III good credit and whose paper is in cir
culation i'll it's vicinity, list of which banks will be
furnished by IT to the Secretary of the Treasury, s.
viii credit the the Treasurer of the United
States as cash. The bank may, however, disconti-
to receive the paper OF any of the said banks ;
but, in such case, twill give immediate notice there
Of 10 such Receivers and others who usually depo-
site public moneys in il and tile notes Of any such
banks, which may have been received by them be-
fore such notice, shall nevertheless be taken aud
credited by the Bank Of Missouri, "a cash.
2nd The bank shall pay, at sight, all dtaughts
which the Treasurer Of the United States NAV draw
SB it and it shall, from time to time, transfer to
the Bank ofthe United States, or its branches at N
York, Philadelphia, Baltimore, Washington, or ~
Orleans, i'll such moneys VIII dc received By them
as cash, the excess Of public money remaining on
depo5iie after such drafts paid, over and above
the sum Of 10000 dollars which sum of 10000
dollars shall remain dGpOsitc in the Bank of Mis-
souri,, during the continuance of this arrangements
and shall be transferred in ike Kramer by the bank
within six months after it shall cease to be employed
TO receive the public moneys. Ii is agreed however
that if the amount received by the bark shall be so
large as that the expense of remittance shall exceed
the benefit of the dcposie, tue sum which is to re-
rain dcpo5iic iii the bank, shall be proportional
bly, increased.
Sd. The bank shall rcndcr to the Secretary OF the
Treasury, u to the Treasurer of ,hc United States
duplicate weekly returns of its account with the
Treasurer, and shall also render to- the Secretary of
the Treasury, monthly returns Of the state fits af-
fairs, which latter fCurns shall be considered conf
icutia and will, In no case, be made public, they
being intended solely to aid the Secretary of the
Treasury in determining the propriety of CONT
nuing OF disseminating the arrangement with the
bank.
lth It's understood that, if tie moneys deposited
I fha Ra of ufi1p