Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1826-05-09

partment 10 take charge under him, of all the mo-
ney transactions thereof. Upon entering on these
duties, u was ioupd, that large amount of drafts
which had been accepted by the late Secretary of
war were lying over under protest; & that drafts
Tor IN mense amounts were hourly appearing, for
the payment of which the Treasury was totally
unable to furnish funds, except in Deprecated
treasury notes Mr.. Campbell had resigned the
Office OF Secretary OF the Treasury, and MIR Dali
las had not appointed to succeed him. The only
alternative left for Mr.. Monroe in this disastrous
state OF the finances of the government, was loans
to be obtained by the Department of War under
| the sanction of the President, if possible. BY
authority of MIR. Madison, the President. loans
| amounting TO about So, 900 900, were negotiated
by Mr. Monroe as Secretary of War, as will an
pear, reference being had to his correspondence
now on he in the Department fwar, commen-
cling with his letters OF the 9th September, 1914
to General Bloomfield, and ending with letter
to Governor Shelby, dated 30th January, 1915.
In addition TO these loans, Mr.. Monroe bor-
rowed large sums from the Banks of this District,
simply by pledging the faith of the government
to pay them, with legal interest, so soon as the
treasury was IN situation 10 furnish the funds
do not at present recollect the amount of these
last mentioned loans; they were upwards of a mil
lion OF dollars; and thus the government saved 20
per cent, on these loans that being the difference
between The par and the deprecated value of
OF the war.
In the winter of lsli-l5, (January. IS!5.N
think, the Paymaster General received informa
ion that his deputies had no funds in their hands
to pay the troops of General jackson, defending
New Orleans. made application TO Mr.. Dallas
by order OF Mr. Monroe, for funds 10 be trans
United 10 New Orleans,,te pay this army. 1t was
totally out or Mr.. Dallas's power TO furnish
dollar Application then made to our Dis
trict Banks, which we had before exhausted bv
loans and reusas received from all. with
the exception OF the Bank of the MetropoIis and
the Farmers Bank of Georgetown. The Presi-
dents OF these Institutions, furnished Mr. Monroe
with Sl25,OOO each and Captain Knight, a dep
u,y paymas'er' was instantly despatched with
F|oV'ooo ana have been Informed arrived in
time to relieve the pressing wants of JacLson,s
gallant army, by paying the notes of these two lit
lie Banks at par when the deprecated Treasu
~ ho'es OF HE government were refused tbront,b
out the country, by the creditors of the IJniieJ
States And this loan was made on the hare
word OF Mr. Monroe, that the Banks should he
honorably paid, whenever the state of the rrea-
sury would permit.
Another transaction of Mr. NIonroe's Will.
Secretary of. War ought TO be ner,one -, 49,
as it places his disin;erested PATRIOTISM in s,cb
colorS thatto withhold it would be sheer inius,ice
In tie year lSli, the Paymaster General was rre
scented with draft from of his deputies in the
northwestern army for $50 900, BELONGING Tas
my present recollection serves me- TO the Miami
Exporting Company, who had advanced the mo-
hey IN ONO Tor The amount thereof. Orders were
gwen TO William Whann, the Chasbier of the
Bank oil Columbus, TO whom the draft was son,
Tor collection, TO protest and send il back instant,
y' II 1t was not promptly paid /; and as Mr.. Brent
had nc funds TO meet 1t, expect deDreciuteR Trco
SWy .'ote3, W mann was on the point of sending
II back. Mr Monroe, however, prevailed on him
to write TO the holders, that the draft had been
PAD on MIR. Monroes accepting, in his 7,rir,te
capactfy' adratt drawn on him at short date, for
S5O,GOO, by the Paymaster General and pledgino
his word that it should be paid when at maturity
have, within few days, endeavored TO find Ills
DRAFT III the War Department, but am informed !,
cannot row be found but the bill book. now in
he Department, records this draft accented bv Mr.
Monroe.
a short time alter, another draft was presented
under similar circumstances and with similar or
oerS. ana Mr Monroe accepted under like respon-
sibility in his private capacity. Mr. Ybann i
dead, but have been informed that Mr. William
Stewart, a Clerk in the Office of the Second Audi
tor, has heard him relate the facts as shove stated
by me.
All which Is respectfully submitted 10 the COM
mttee on the claims Of Mr.. Monroe, in conformi-
iy to the letter of its chairman, dated 10Th Feb
Tuary' 1876, requesting any information in possess
SION, IN Ieialion 10 loans made by James Monroe
CITY OF WAsHINGroN, FEB. IL, 1926.
BE 1t Remembered, that, on this lav, personally
appeared before me, the subscriber, one of the Jus
tices OF the Supreme Court of the United State.
the above named Tench.Ringgold, who, being du.
ly sworn according to law, deposes and saws that
the contents of the foregoing staemen; is lust and
rug according 10 the best OF his knowledge and
Delei' JOSEPH STORY