Martinsburg gazette and public advertiser. [volume] (Martinsburg, Va. [W. Va.]) 1826-1833, 1832-12-20
s,ss5,ols.ss

$. Real Estate 1897 ,1Qi IS
A. Due by State Banks, S,5i2,s53.a4
8. Due by individuals, 6s,i72,744,7s
Making an aggregate OF s79,59s,s1l.aI
Here then are 10 millions to pay 81 millions.
Really, this would seem sufficient TO quiet
the fears oil the most sensitive holder Of
note. al
THE ADMINISTRATION AND THE
BANK OF THE UNITED STATES.
From the National Gdsette, Dec. 10.
The most extraordinary and objectional
part OF the Annual Treasury Report 10 that
which relates TO the Bank of the United
States. We say what we sincerely believe,
or positively know, when we affirm that the
Secretary has here much snrprized and scan
dalized multitude OF sensible and patriotic
citizens, who are free from all party or pc
cuniary Influences The injury is enormous
which bis statements and ultra iusmuations
were calculated TO produce, not merely to
the institution itself. but to the general pros
perity and convenience of the country, the
interests Of large number of unotiending
stockholders, and the national treasury itself;
and this without any correspondent or per-
cepiiblc benefit to be termed lawful and pub.
lie. As the story Of the Three per Ce,is, up
on which he dSells has been variously given
in the administration papers, with more or
less Misrepresentation and injustice. we have
made inquiry at the proper source for correct
details, and received an authentic account.
The whole matter then rs simply this:-
On the 10Th of July last, the Secretary Of
The Treasury wrote 10 the President Of the
Bank as follows:
1REAsURY DEPARTMENT, jury 10, 1881.
SiR:--It was not until TO day that have
hcea able 10 ascertain The amount of the APP
preparations made al the last session Of Con-
gress, and therefore have not been able to
decide before now upon the amount OF the
three per cents, TO be redeemed on the LIST OF
October. fad, as was supposed when you
were here, that we shall be able to pay off a.
bout two thirds at that time, A notice will
accordingly be given in to morrow's paper
for the payment of that amount on the Ist of
October, and the remaining third on the LIST
OF January. THIS has been adopted tcifh the
understanding had bcWeen us, that " II should
happen tRai the Public money, are insufficient 10
complete those payments, Tie Bank ,ciH delay
tie presentation of any certificates Of tchich Il
nay haze The control until the funds are suG-
cieaf 10 meet them the interest 10 be paid by
Tie United States during the Interval:
You will be pleased TO indicate such trans
fers of funds as may be desirable preparatory
to the proposed payments.
| am, sir, very respectfully, -.
your obedent servant,
LOUIS M'LANE.
). Secretary of the Treasury.
NJ B,rpLS, Esq Prest Bank U. States.
To this letter the following answer was
gf7en: - -
BANK or THE u STATES. July 90, 1887.
Sir have had the honor Of receiving
your letter of the 10th inst. apprising me or
your intention 20 reimburse two thirds OF the
s per cents. on the ist of October, and the
remaining third on the 1st Of January next.
You further state, this course has been a.
doptad with the understanding had between
us, that if it should happen that the public
moneys are insufficient 10 complete those pay
ments, the Bank will delay the presentation
of any certificates Of which il may have the
control until the funds are sufficient to meet
them-the interest to be paid by the United
States during the interval
Tie Dark has taken the necessary steps 10
obtain the control of a considerable portion q
these certificates. and reiu very cheeJuiiy en-,
ptoy 1t IN such a manner as may Best suif the
convenience Of the government.
have the honor TO be. 81, -. :.
very respectfully yours,
IN. ElDDLEs, IFebtututs
Hon LouI. M'LAEE,
Secry oftbe Treasury, Washington. d c.
From these letters il appears that The Sc
cretary, not being sure OF being able to pay
all the three per cents, requested the Bank to
withhold the certificates, and that the Bank
promised to do so.
What the Secretary anticipated viii actu-
ally happen, that is, on the LIST Of January
next, the Government ,oiH not hare funds Of
is o,cn sufficient 10 pay the three per cents.
This is evident from the Secretary's own re-
port. L
Thus he gives the receipts OF the, three first
quarters Of 1881, at s23,9l8.65s 81
And adds: The receipts for
the fourth quarter, ulclud-
ing The third iastalDsent Of
the Danish indemnify, are 80 :.
estimated at !,5S4,oe0 oo
Which, with the balance in
the Treasury on the Isl
OF January, 1889, 4,502.914 As
Make the totalreceipts Of 1892, s6.255. 1896
The total expenditures are
next stated at 3s,tll 400 c3
Leaving, he says, in the
Treasury, on the LIST Of
January, 1882. an estina-
ted balance, scluding the -------- -
Dani.h Indemnity, of i.644,l07 IS
But he adds-"This balance, however, in
s,nsrs the funds estimated at Sf 400 600 here
tofore reported by this Department as not