Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-07-02

"'h oCStctdIy AISiSuTy3 50 dS
| can remember, at this time aud upon this
point feel pretty certain am not mistaken:
After waiting what we supposed reasonable
time, To allow the Missouri Bank tn have the
money at Louisville, where the draft Was To
be paid, Went, and took IA young man with
me, To receive the money. For forms cake,
the draft WAS transferred Ia me. went to
Louisville, land no particular place in Louis.
vile being specified in the draft where the
money was 10 be paid,) 1 went To the Branch
Bank there. found no funds provided To
meet the draft aud after waiting IA few days
without being able To hear any thing which
induced me to think longer delay would be
useful, had the draft protested, copy of
the protest forwarded to the drawer, with
such notice AS would make him responsible,
and returned To Knoxville. Some time after
wards, think III the same year, letter was
received from the Cashier of the United
States Bank, stating that a bundle, said to
contain the 40, l56 dollars, had been forward
ed, aud lett there Ivy the Missouri Bank, for
the purpose of lifting this draft hut, as We
mad had the trouble and expense of going
once tn receive it, we took no notice of this
communication, and wished to have the mo-
hey sent to us at oar own place, al the expense
aud risque of the Missouri Bank. We were
content with the paper, and ready to receive
II, AT any time. Thus matters stood, until we
| seard that the Missouri Bank had failed. |
advised that the Knoxville Bank should again
send tn get this money This was in the win
ter OF 1891. As soon as they could make The
arrangement, they sent on and received tn.
money at Louisville early in the year 1922. l
understand that the whole amount of $40, 1856
was received in notes Of the Knoxville Bank
and ITS branches. In the meanw lille, the
Treasury continued To draw on the Knoxyie
Bank, and, as President, directed the Cash
Ter not TO pay cash for these drafts, hut, cur
rent money would be taken, TO make adyan-
ces In II, though the money was not vet receiy
Ell lot the draft, under belief, that, ulti-
mateiy, the Secretary would cause The anoun,
OF the draft to be- paid To our bank.
NY impression was, that when the Nilsson.
ri Bank had received these notes the banks
| were all paying specie, hut that afterwards
| !ne branches had ceased to do so. The first
Information we got was from Mr. Cochran,
Cashier OF the Branch Bank of the United
States at Louisville, that the mcpey was re.-
dy for us, and was in the same summer. viz.
vi 1870, as believe, hut cannot be certain.-I
never exchanged line with The Missouri;
oahk, nor received line from il, accord,ou
10 my best recollection. considered our
transaction only with the Treasury. The
mail from st. Louis to Knoxville was al
that time tedious. and not very regular. lam
yet ignorant OF the reason why the money
Was not ready for US at Louisville. I had no
reason 10 aoubt, nor have now, that the
treasury did all that was reasonable towards
ing all parties concerned Of ba,iop civ
en- the draft. The amount of notes op I,h.
principal Bank ITSELF was small in como,r;-
son To that on its branches.
understood that the draft for S4O15e was |
a mode of transfer from one bank In ano,ha
Tor the purpose of having placed to the credit
oi the United States as cash or general d.n,-
she ms sum which the Bank of Missouri
could not transfer TO The Bank of the United
States. We paid creditors of the Uni,sd
H'd'es VINO presented drafts in current bills
'nough not IN specie, and there were nm corn-
plants at the time, of which | have NJ nressn,
any recollection. We did not paw the snec;e
because the fund had not been received mon
!he foundation of which We had agreed to nav
u anG II any blame is due, it is due ts m vseIf; in
preference To The Cashier as forbade hin
TO pay the specie, as it related to this transac.
t'on, until the fund for which we had agreed !
to pay il should be paid to us.
Question By Mr.. Ed,0ards. Iwant IN kno,v
my hand fo'' 10 !"
n. / have seen that report Mr.. To. -
nian of the utmost integrity; and if tbs, -.
port varies from my statement as to The |
transaction, II Is more TO be relied on thar INV |
own statement, which is from memory will
out the same means of being correct which |
Mr.. Lee had.
T. Was part of the money deposited IN
be suffered to remain in the Bank
H. lac treasury was TO draw out the mo- |
ney only as the wants of the government re-
qured something may have been said as IN
,'ie VINE IL was 10 remain in the bank: but
na W ,tconec"on olany positive agreement
on 'nd' SUBJECT; MIR. Craw ford's letter sbews
the understanding upon that suh;sct ' ,.nss
correctly than | can state from ,,a,,,n',
merely. 'en'o'y
Q. What was the discount on vour ,,nsr .
II. None upon that OF the principal bank i
but upon that of The branches. and Ctr,
tennessee paper, it has huctuated from fen : q
twenty-five per cent
~ q what were notes on the branches If the
hnoxvllle Banks worth at that time
II. i cannot Iecollect at that particular
'i"'e. Inc depreciation taken for a series Of
years was rom ten to twenty-five per cent,
as before stated, in East Tennessee in Wee,
Tennessee the discount has been some ,;n,a
higher. ''''e
Q. Did net the pensioners receive from 10,
to twenty per cent. less than if they had re-
ceived specie
H. The money in which they were paid
was of the kind bich was at the discount he
fore stated.
Question by .Nr. Taylor. At the time that
these payments were made at the Bank of
hnox.'e, was there credit IN that bank to
the United States?
.7nSwer. Yes: atd that credit always stood
as specie credit but we thought that il was
more man balanced by the daft unpaid and
we held the Treasury responsible for The
amount Of that draft.
question, BY Mr.. Websier. In other transac-