Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-02-01


than the sums actually withdrawn fromit.
During the same PERIOD the specie was,
On the LIST August, l0023677 80
On the LIST January, l0,03l,237 72
An increase of 1850 81
The in circulation were,
= On the LIST OF August, 1S,S90,505 40
On the LIST OF January, l9,20s,379 80
An increase of so7,s74 so
The object OF the Bank is 10 create an mpre sson tina,
Its curaimenshav been less than they really have been
and no, equal 10 the demands upon it, When the rea
curailment has been 90, 24S 1877 A
II represents il 10 have been only 5,lS274l %
Being false by 4,066, I46 81
Ii represents the demands on il TO have
been more than its curtaimens by I,729,ISI a.
When, in fact, they have been less by 1868, l6S
Showing falsehood on this point Of $685. $50 10
he apparent greater demand on the Bank from the
October than from the LIST August arises entirely from the
accumulation OF the public between those dates
and its repayment constituted demand the resources
Of the Bank.
The Bank article concludes with the following charac-
eris,ic commentary its deceptive statement viz:
"Such is the condition Of that institution, which the
agent OF the President Mr. Kendall, recently described
reptile beneath the ieet Of the Secretary of the
Treasury, which he Qhe Secretary could crush at will
which existed only by his forbearance and which
great orbearance required from destruc-
on There has been transfer of Eor5earance a, well
as OF the deposites All that the Secretary could do to
crush The institution, he has attempted and
see what 1t still is-what stamina il re,ainA-How saga.
cious and prophetic the Agent-how powerful and mer-
me Secretary-how fortunate for the
joint foresight and energy' They have contributed to
verify their wonderful predictions; have secured the pub
lie revenue-ixed and equalized the currency; made
ney exuberan filled all the channels OF circulation and
created brood oil national Banks exhaustibe in specie
and credit"
tits difficult to say whsher this eausou is most di,,in.
guished Tor arrogance or for witul msssemen At the
time the removal OF the deposes commenced, as Mr. Bid.
die knows and every intelligent knows the Secreta.
ry Of the Treasury by ordering the transfer Of the whole
public money hand at could have forced half
dozen branches OF the Bank 10 stop payment, He how.
used his power only TO check the disposition
Bank TO do mischief; and upon its refusal receive the
distant branch notes, brought il to terms in week. He
aided OF the State Banks in protecting the commune
~ against the oppre Bank OF The United States
but has done act TO arass embarrass that institution
Yet the contrary is arrogaatly told by Bank which
exists only because he RETAINED from The exercise of the
power he possessed that all that the Secretary could DO
TO CRUSH the institution, he has aempted'r! Lbe and
ISLANDERS the thanks he gets for his Yes
foroeorance; lor when his enemy was in his power, he
Jor6oTe 10 crush hum; and that enemy thus permitted
hue having mesurably recovered his strength turns
round and taunts him.
Well, consolation ia, that every such display of
Bank nsoence only rvets strongly upon the public
mind, the conviction OF the danger Of longer oeratng
such an inst uioD.
We published in our paper OF thursday, the letter OF
the Secretary the Treasury the Gard Bank in order
10 show the purposes Tor which the transfer drafts,
much spoken OIL we're given to the selected Banks We
have since procured the draft ITSELF and of the
regulations adopted by the Treasury Department 1922
Tor transferring money from "one Bank to another"
They show how unfounded the assertions that the
money was "l'nuTaWU treasury. Inc money
stood 10 the credit OF the Treasurer in the Bank the
United States, and the draft, the face Of it, directs
be placed 10 the credit of the Treasurer in The Ghard
Bank. 1t was equally in the Treasury in The Bank
as in the other. The draft moreover precisely in the
form directed by the regulations Of 1922 and since that
time, all transfers iroh Bank Bank been made in
that manner Globe
Cory OF THE TREASURY REGULATIONS
When transfers TO be made oil public funds from
Bank 10 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 to be transferred the
required, stating that is TO be placed credit
in said Bank This draft will be recorded by the Reg err
who will authenticate the record by his signature upon
the draft, and il will finally receive the written sanction OF
the Secretary OF the Treasury"
Cory OF THE TRANSFER DRAFT.
"Tredsury Of the United States,
October Sd, 1888. {
"Trsnsfer Daft,
No $40.
Pay TO the Cashier Of the Crard Bank. at Philadelphia
ORDER five hundred thousand dollars 10 he placed my
credit in that Bank. JOHN CAMPBELL,
Treasurer Of the United States
100000
- Recorded. T. l.. SMITH,
Register OF the Treasury
The above transfer is authorized. II. B. TANEY,
Secretary Of the Treasury,