Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1834-12-15

DOMESTIC NEWS.
THE BANK OF TIE UNITED STATES
AND TIE TREASURY.


hsthc subject of the French Bl has been much
'oborcd Gin he Mcssosc) VIC publish tho letter OF
thu, President of The Bank, giving the final views
OF the Bank IN that matter. II is Impossible, we
think, MOI 10 DC struck 10y the calm and dsn-
tied hrunness Of the Board conraslcd with The
coarse and bols;crous defamation of the Kitch
en- Cabinet and this difference no, merely in the
cause bu, IN tho manner of sustaining it ihs ap.
peal 10 the laws instead of TO mobs-mus, cnilsi
on the side of the Institution all sober. minded cit
lzon': Nit Int
BANK OF THE UNITED STATES,
Nov. 2jth, 1894 {
Sir Your favor Of the 49, day of July last
reached Ihc Bank during my absence, and find.
ing, On my return, that my letters addressed to you
AT Washington, had been published in the newsp..
pe,s Of Nashville, it seemed useless to prolon, n
discussion which could only nflan,c the passions of
The country IN the midst Of is elections | have
therefore tarborne to answer your letter until The
time had passcd for the repetition Of a similar al.
peal from he laws
The whole case appears TO be exceedingly sim.
pic. There is a difference of opinion between the
Treasury and the Bank about tho damages on a
bill OF exchange. This is matter of account
which depends on The existing laws, and the Acts
OF Congress provide specifically before what
tribunal, ana IN what manner, the question
"'"e' o' "'u nus by The Act OF the Sd
of March, 1897 it is provided, that if any per-
son, accountable for public money, fails to paw
II, 1t shall be the duty of the Comptroller and he
is hereby required 10 institute suit for the recovery
OF the same, and IN such n sun NJ claim for
credit shall be admitted upon trial but such as shall
appear to have been presented to the Accounting
Othcers OF the Treasury for their examiratIon and
ny th'm disallowcd IN whole or in part The Bank
has accordingly presented its account for dama ses
which has been drsaliowed. Ii has then retained
suticient amount of public money for the purpost
and invited asu't by the Treasury, so us TO bring
tho subject before the Court Il did this and so sta
ted it The best if not the only mode" of settling
the question. But as the money itself WIS an ob
Ject OF indifference to the Bank, hich sought only
10 vindica'e It's own right and the retaining it was
a mere form, TO comply with the Act of Congress
the Bank al the same time requested from the Sec
rotary 10 know, whether there was any other
mode of submitting the right of the respective mar
ties TO tho judicial tribunals more acceptable 10
would Instantly have released the money
on any arrangement with the Treasury to bring the
Case before the courts.
There is still more summary process OF obtaining
a decision. BY the act of Congress of May 18Th,
lo2o, i:thc public money be withheld the frs,
Comptroller of the Treasury can issue a warrant
OF distress against the party in default, " no may
then appeal TO the Courts fthe United States.
E'ther ct these courses is open to the Executive.
If choose neither, the Bank having done its duty
scon'en'. Before the proper tribunal, TIE Bank
VIII always be ready 10 prove
l. That the bill Of exchange on the French Go.