Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-04-17
IMPORTANT TREASURY CIRCULAR

We give below a circular issued by the Secretary Of
the Treasury, which, in point of importance is not sur
passed, in opinion by any which has before can,t
ed from that Department
The substitution of metallic circulating medium in
place OF Bank notes for all sums under Ten Dollars
reaches the pockets of the great mass of the labon
portion OF the community which comprises large ma,
jority of the whole.
BY counterfeits, by depreciation and son,r,;,oas b
the failure OF Banks the day laborer FREQUENTLY e1
he is paid in small Bank notes. has been defrauded of
part OF that which, by the sweat of his brow he h, "a
earned tor the purpose of providing food and clothing for
his family When the use ofthese small notes is hosb
cd and silver and gold substituted he will be certain nj
receiving ana enjoying the full and ne
may have earned.
This restoration of the only constitutional currency
iar as IL goes, is measure which consider as imme
dutely connected with the removal of the deposes from
the Bank of the United States the enployncrf OF
State Banks as fiscal agents Of the Government which
the Secretary o-the Treasury is now carrying out
Already have many of the States moved in this mat
ter IN their Legislatures and believe l,at public
opinion VIII be brought To operate strongly that the
of substituting silver and gold in place of small
Bank notes, will be adopted throughout the u States
We hope it accomplished and in one rnton ocn
orally before the close OF the term Of the present Ad-
minstration.
That the Opposite Banks will unite viii, the Secrea.
ny OF the treasury carrying into successful operation
measure which promises much bencft TO the pubc
we cannot for moment entertain a doubt.-Glo5e
CIRCULAR TO ALL COLLECTING AND RE-
CEIVING OFFICERS.
TREASURY DEPARTMENT
April 6th 1885.
II is understood that the instructions from this De-
Parnent to receive for the public dues only such State
Bank notes the Opposite Banks are willing to credit
at par have been construed 10 authorize the recent of
such notes of any denomination. The undersigned con-
siders IT highly beneficial the currency of the country
and the safety OF the banking agents employed i'm keen
ing the public revenue, that the general use of
specie Tor the small and ordinary of society
should be encouraged; and the dsusc of Bank nots
OF low denomination is believed be the surest me-
thod to effect that object, and the of Congress do
not expressly require the receipt oany such notes less
IN amount than five dollars you hereby directed al
ter the both day September next receive in
ment OF any public dues Bank notes of any dcnomna
ton less than five dollars.
You also apprzed that it is in contamination bv
this Department, after the Sd of March, S6 Ishould
Congress in the time make no new provision
on the subjectl exercise the discretionary powers
which it is supposed will then belong TO it, over
the receipt OF paper money of any denomination for
the public revenue, and extend the restriction on the
receipt Of Bank notes. for it, TO all Of less denomina
ton than ten dollars For the greater security of
the banking institutions employed by the Treasury and
Tor the Improvement of the currency BY the fuller
restoration OF that specie circulation Tor common Dur
poses which seems to have been contemplated by the
Constitution it is intended then make ARRANGEMENTS
IT practicable, to discontinue the u Of any Bank as
fiscal agent, vhch shall thereafter continue TO Issue
notes of less denomination than five dollars and which
shall, alter some subsequent PERIOD be then dcsinat
ed, continue to issue notes Of less denomination an
ten dollars
The course proposed to be pursued hereafter on this
subject by the Treasury, is indicated with A view
to ensure suitable notice Of the changes coniein plated
LEVI WOODBURY.
Secretary If Me Trtasurg