Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-12-31
49,, $500 COMMUNICATED.
MIX CLAY-AND THE TREASURER OF THE
UNITED

II would from Mr. Claws argument in the Senate
on the Deposi'e question, that the Secretary Trea
sy hd7 The pocer TO reOre the depostes conferred up-
on him by iaU and that the ia,o made the Irea.
ser responsible for the exercise that 6y the Sc
cretary What does Mr. Clay saw in his speech ON ,ha,
subject 'p'''" =" '"A'
.The charter OF the Bank OF the United States requires
that the public deposites be made in its vaults II
u also g,ues the Secretary Of The TREASURY po,cer
TO remoue Mem;-and why? The Secretary is at the
head OF the finances Of the Government. Weekly re-
sports made by the Bank him. He is TO report to
Congress annually, and to either House whenever he
shall be called upon e is the sentinel Of Congress-
me agent OF Consress-the representative of Congress
He has been created by Congress. Congress has pre-
"scrbed and has defined his duties He is required to
report to them to the President He put there by
the deposites tohen they shall in danger and we
not in session but when he does this required to
rePort to Congress the fact with his for it, Now,
SIR, u when an officer Of government thus specifca-
ely assigned his duty il he is report his official acts on
his responsibility to Congress- if in where pow
er whatever given to the President the President may
go and say that officer, go and do bid YOU or vol,
"shal he removed from ofice'-le ask whether the
changer unprecedented by that eloquent has alrea-
"dy been realized?"
The Secretary of the Treasury, them according to Mr.
Clay, has the poper to the deposes for the
sons he assigns and the Treasurer Of the u g. has ore
ed his official bond for permitting him exercise it'll
Transferring The public funds from The Bank of the u
where they stand TO the credit OF the Treasury State
Bank and placing them in the State Bank the
the Treasurer, is, according Mr. Clay discussing mo.
neyJrom The Treasury which requires of the
Secretary OF the Treasury, counersgned by the Comp
roller and recorded by the Register.
Ii this be true every Treasurer has violated his official
bond, who has office since the establishment Of
Banks in the U. s. The power of transferring the public
funds from place TO place. suit the public enience
has always been exercised by the Secretaries Of the Trea
since the establishment Of the Government under
their general powers OF finances OF the
nation The following Extract OF Letter from the Trea-
OF the u States to the Cashier OF The Bank of te
~ States to which Mr. Clay alludes in his speech, will
fully explain this subject
ExTRAcr Of a letter from the Treasurer of The United
States TO The Cashier of the Bank United States dat
ed 18th .N0u, 1888
"Thc Charter Of the Bank of the United States has
given TO the Secretary OF the Treasury, the sole power
ordering transfers OF the public funds from place TO
place. for the convenience Of the public service and he
Of course must judge of their necessity and legality
would, therefore, be out OF place in offer any
servaons to the character Of the drafts to which some
aluson has been made He is responsible to the nation
Tor the OF this power and OF
be controlled In II by any officer in the Treasury the
Bank as conceive. The charter of the Bank provides
"ihat whenever required by the Secretary of HE Trea
s1y the said corporation shall give the necessary faci-
"es for transferring the public funds from Mace 10 Mace
whin the U. States the Territories thereof and for
distributing the same in payment Of The public creditors -
The form III which this power, thus coDtIded to the Sc.
cretary is 10 be carried into effect he has prescribed in
his instructions to the Bank Of May 2sh, 1929 which
accordingly communicated TO all the Banks in which
there public funds These instructions are AZ follow:
when transfers are TO be made Of public funds from
one Bank to another the Treasurer will issue transfer
draft upon the Bank in which the funds may be al his
credit, IN favor OF the Bank TO which they 10 be
transferred, for the amount required stating thai IL is
be placed 10 his credit in such Bank This draft will be
recorded by the Register who will authenticate the re-.
cord by his signature upon the draft, and it will finally
receive The written sanction Of the Secretary Of the
Treasury"
"The transfer draft signed by the Treasurer, Register
and Secretary in pursuance OF these Instructions the
form prescribed by the Secretary for carrying into
the power coDided TO his discretion, Of ordering transfers
OF the public funds from place place II adopted TO
give authenticity TO the order, and enable the Urea.
TO render accurate Of the state Of the
public funds in the Bank and s branches aud not IN
sequence Of his having any discretion control ouer
The subject Tie has, therefore, gidy and strictly con-
cfiona a.,
the Treasury this subject aud whenever he shall di.
rect that notices oil transfer drafts a. we'll ne OF tcdr-
rants shall be transmitted TO the Banks by this Office
those instructions shall with great pleasure be complied
with NY par hut until such instructions are given, the
practice nj this Office will he continued as heretofore
0F "When disbursements Of money are to be madt
cW nj me Treasury, the law has pointed the duties
~. .,asurer. Such dsbHysements are 20 be made
alone upon tho Of the Secretary Of the Treasury
coun'egnedby the Comptroller and recorded and auhen
ucsed by the signature Of the Register And by the re
gulatons Of the Treasury Of the 18th May, 1922 which
also communicated 10 all the Banks ~ which Their
public deposcs the Treasurer u requested writ
his order Tor the payment Of the money upon the