Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-07

Treasury warrant thing necessary TO be known by
every who aspired to the illuminating Of nation,
TO the understanding Of himself. To make this
clear Mr. b. read extracts from the
Banks Of deposi,e in 1922 aud from certain
the Treasurer Of the United States TO the Cashier Of the
Bank OF the United States In the month OF Novembe last
which would justify the issue of the transfer drafts aud
qu'e, the alarms OF all those who thought the Treasurer
had forfeited The penalty oil his bond and the Secretary
had violated the clause Of the Constitution which forhs
money to be drawn from the Treasury except upon
rants aud under appropriation laws. They would show
that the transfer drafts, were not warrants that they
drew nothing from the Treasury, but made Treasury
every place into WHICH they carried money within the
limits oil the United States, its Territories, whether
there was branch Of the United States Bank there or
as dePositories 81 The Public Moneys, dated
TREASURY DEPARrMENT, May Is, 1929
"All public moneys received subsequently, 10 the
LIST OF June will be placed the credit OF Mr.. CAMPBELL
as Treasurer. They will he DRAWN for by him In the
following manner and mo other.
ls Tho Secretary OF the Treasury will issue his Udr
rant upon the Treasurer, directing the payment, which
warrant will be counersgned by the Comptroller Of the
Treasury, and recorded by the Register who will au-
then'cae the record by his signature and upon suitable
part Of the The Treasurer will give his order di.
rected TO the proper Bank the payment Of the money
I'd When TR aNsrERs 10 be m sde OF the public
funds from Bank another, the Treasurer will issue
TRANSFER Draft upon the Bank in which the funds may
be al his credit in favor Of the Bahk to which they
transferred Tor the amount required stating that is TO
be placed to his credit in such Bank. This d,a will be
recorded by the Register. who will au hencate the
cord by his signature upon the draft; aud it will finally
receive the written sanction oil the Secretary Of the Tres
sury.
W No deduction ,rhaterer is to be made from the
moneys placed TO the credit Of the Treasurer ereept in
these too Modes"
Extract Of letter from the Treasurer of the u States
to me Cashier 81 the Bank Of the United States, dated
2oth .Nou., 1888
"The charter OF the Bank OF the United States has e
dering transfers OF the public funds place place
for the convenience OF the public service and he
must judge Of their necessity and legality. would
therefore, be out Of place in offer any
as to the character Of the drafts 10 which some ausion
has been made. He responsible to the nation for the
proper exercise oil this power and OF course be
oed init by any officer in the Treasury, of the Bank
as conceive The charter OF the Bank provides that
toheneuer required 6y the Secretary Of the Treasury the
said corporation shall give the facilities for trans
ierring the public funds from place place within the w.
States the Territories thereof and for distributing the
same in payment Of the public credtors The form in
which this power thus conided the Secretary is to be
carried into effect he has prescribed in his instructions to
the Bank oil May 18th, 1929, which were accordingly
communicated to all the Banks in which there were public
funds. These instructions follow:
Wv hen rdnyers are TO be made of public funds from
one bank 10 another, the Treasurer will issue Transfer
Drg upon the Bank in which the funds may be at his
credit in favor oil the Bank which they be trans
ierred Tor he amount required stating that is 10 be
placed 10 his credit in such Bank This draft will be re
corded by the Register who will authenticate the record
oy MS signature upon the drat and II will finally
the written sanction Of the Secretary of the Treasury
Ihe transfer draft, signed by the Treasurer Register
and Secretary pursuance Of these il the
form by the Secretary for carving into effect
the power conded his discretion, Of ordering transfers
oil the public funds from place to place. 1t adopted
10 give authenticity 10 the order and to enable the Trea
surer TO render accurate of the state of the
public funds in the Bank and its Branches, and not in
consequence OF hs hdung dscrefi0n oue
the subject. He has therefore gdly aud strictly con-
formed 10 all the Instructions given by Secretary of
the treasury on this subject and whenever he shall d.
rect that notices OF transfer drafts as we'll as of ,cayranfs
shall be transmitted to the Banks by this Office those in
sruc'ions shall with great pleasure be complied with on
my part but until such instructions given, the prac-
tice Of this office will be continued heretofore.
"Whsn disbursements Of money are to be made out
Of the Treasury, the lao has pointed on, the duties of
he maj aoIon
upon the ,odrrdnt OF the Seerefory Of the Treasury
co"ntersigned by the Comptroller recorded aud aI,
thenuca,ed by the signature OF the Register. And hy
the regulations OF the Treasury, of the 2Sh May 1929
which were also communicated to all the Banks il,
,chich there pere public deposifes, the Treasurer
CURED 10 write his order for the payment of the money
upon the warrants and by another regulation, the Trea
surer required TO transmit TO the Bank daily list of The
drrants thus directed during the day to the Bank for
payment These regulations have been, and will continue
10 be uniformly complied with"
Alter reading these extracts, Mr. b. took position and
dehed all attacks to dsodge him from it. Ii this
That warrant for the payment OF money of the Trea
sury, must, in addition other requisites be
ed by the Comptroller OF the Treasury; and the Bank is
forbid pay, and pays lis peril any so coun-
ersgned; The transfer draft is not counersigned; the
Comptroller does not so counersign H yet the Bark
United States paid these drafts, the amount of two mil.
lions and quarter, without the counter signing of the
not drawn out OF the Treasury This conclusive and
put the Bank Of the United States in the position Of con-
iradicDg itself, and contradicng all its in the
assumption that the Bank is the Treasury
Mr. b. took further view of the tangled concep-
ZION, that the Bank OF the U. States Treasury of
the u States Ii followed from that doctrine that where
there was no branch Of the United States Bank there
could be no Treasury and public money. Now six
eight States OF this Union had branch the three
TItones had none (; by consequence public moneys
could be sent to those States aud Territories Again. the
Bank OF the United States obliged to establish
branch in single State, only in the District Of Columbia
that if she Withdraw her branches no public money
could be kept except in Philadelphia and Washington
He traced the origin Of this that the Bank was
the Treasury, to the great measure introduced by Pres
dent Jackson in the FIRST year of his for the
protection o! the Treasury which was that the Treasury
warrant should be filed in the Bank which paid the mo-
ney Before that time the Treasurer issued his check ON
the Bank for the money, and IL paid on his single
check; since then three other go the Bank
with his, to wit, that OF the Comptroller, that of the Re-
gser and that OF the Secretary Of the Treasury and this
formed the true defence and security of The Treasury
The Treasurer's bond for $3.50 900 nothing 10 man
who would check for thirty millions in year. President
Jackson in the first months OF his SUI ppy
ing the dehsiences oil all his predecessors, applied the
true remedy Secretary Ingbam the Circular; he
(Mr. had read from H.; IL did high honor 10
the new administration Ii put the Treasury beyond the
reach OF being injured by any Treasurer. The Tressu-
rers check could not draw dollar without three
other names upon it, and the filing of the warrant under
the seal oil the Treasury. The Bank now 10 see the
warrant and to hold it, and because this warrant was
formerly retained by the Treasurer and the Bank thinks
itself the Treasury, because for ak years has had the
Treasury warrants instead Of the Treasures check Mr.
b. here commented upon the straDgeness OF fortune that
President Jackson, who the only President who had
devised true and imPregnable safeguard for the
Treasury should be charged with Selling it, and his con.
duct compared 10 that of Caesar pagng the gold which
al "