The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1836-11-18

are not required TO be actually paid over to ne
States till next January, aud quarterly thereafter
during the year.
| But the preparation before hand 10 ensure their
punctual and prompt payment there has been
careful and constant, aud coupled, whenever con-
venient with the FIRST and earlier distribution
quired snlong the banks as % prevent the great
lnconve niences and pressure in the money mark
ct atis ndant on double transfers, first from bank
TO bank near, and ne1t from Stale 10 State at
distance.
/ have, therefore, in cases here the public mo-
ney had largely accumulated in any banks in any
one State, and new banks could be asonsby OBJ.
! tanned in other Safes, where only little pablo
money already Ell ted, made but one transfer 10
accomplish both objects, and by SINGLE opera
tion have reduced the excess in certain States and
placed j, in the States vi here il would be ne, ded
next year, and here they before had not an equal
portion Of the public money.
! In accomplishing these objects with view 10
arrange, upon equal and propcrtonatt bass,
the deposites among both the banks and tbs States,
as required by the law, due notice OF Tie lures
and place OF large payments, has been gwen 50
TO proceed in gradual, and, al the same tune,
seasonable manner nsderlne sudden aHd I'M
mediate transfer OF the whole not only impossible,
but ruinous 10 the community well he
been ascer,ained that the operation gong on vas
too rapid for the resources OF the banks or the
nelghborhood, without great distress, have cx-
tended the period of time for the transfers, and
especially those to distant States (Nhch are less
urgent than the others under the law provided
it could be done without defeating the spirit as
well as the words OF the law, and without hazard
ing its faithful and prompt execniion.s
Adhering to these principles | do not hesitate,
on your representation, TO extend the tine OF pay
ment for most Of the transfers mol yet due from
the several banks in New York city, IN ugh tho
transfers IN your own nt,ghhorhoou, aud partcu.
larly those for the reduction OF the dclo ties TO
their legal amount among these banks, cannot,
with propreiy, be much longer delayed. S"-s
Of the outstanding transfers have now 80, 60, and
80 days, OF nearly that, to before payable aud
several OF them, amounting 10 all 10 about one aud
quarter millions of dollars are not payable a,
distance, but in your own city.
All those payable out Of the city and State, over
the amount OF transfers payable irom Other States
before the lst Of January, less than one and a
half million OF dollars
Those transfers from your city, which fall due
at home or within the State of New york before
the Is, of January, will, therefore, you desire,
be postponed 80 days each, but cannot, with pro-
priety, be further extended Those which tall
due out of the State, before the lst OF January,
will al once all be postponed to the lst OF Janua-
~, the chief though not sole object OF them, 10
to have the mop-y there seasonably for division
among the States.
It's hoped that these ndulgences will be
poyed by the banks, TO enable them 10 complete
easily the transfers already ordered, and 10 exc
cute efficiently the remaining transfers which VIII
be necessary under the act TO he directed heTeat-
ter ard Of which, as heretofore, unless public ex-
genci.s should forbid. whenever large in amount,
a due and liberal notice beforehand of the times
and places of payment. viIl he carefully glseB
Concerning your last request OF nae to direct
the banks making the transfers to put the amounts
at the proper places, in the meantime, before they
become pay able, 1t may be necessary to explain.
that the transfer order Is nov, III both form and
Substance, to that effect. When It is made Pays-
bic at distance, the fu..ds must be- RENTED there
by the time il falls due but If al home, they must
be got ready at home.
Ii, as is apprehended from ynur remarks, II is
supposed by some that transfer draft can, any
more than a treasury warrant, be made payable
on It's face in any thing except specie, provided
the holder chooses 10 demand specle, the error
should be corrected as the idea is illegal and pre-
poserous. But the Department has, in no case,
ever given any order 10 demand any portion OF
either of them in specie.
The holder Of the warrant often accepts bank
notes OF checks, and so does the holder OF the
transfer draft, and in the latter case the bills Of
the bank IN whose favor it runs, or balances a.
gainst such bank would, of course, be always as
available as specie to meet the transfer when due.
| am, gentlemen, very respectfully,
Your obedicnt servant,
/ LEVI WOODBURY.,
Secretary OF Treasury.
: TT. nd RENIAHfN /.
ESQ. New York.
/ 1t may be proper TO add, by way of further ex-
PLANTATION us to the facts that It all the above or
dered transfers TO other States from New York
were completed, and no new transfers. receipts, or
expenditures should take place, there would silk
/ remain in that State, and most of the amount in
| lis commercial capital about ten millions Of doll
/ lars of public money, or quite five millions moro
than the whole probable proportion OF that State.
under the provisions Of th- deposis act,
The three original depos'te banks in that city,
had by the last returns nearly million of dollars
each more public money thaa three'tourshs OF tho
amount of their respective chartered capitals Bus
the excess has since the deposlte law took effect,
being four months ago, been ssasonably placed
under transfer to other banks, some oil which are
within, and Others out OF the State Of New York,
and PAYABLE at future periods; giving what waa
regarded reasonable time for the operation.
|
The whole human race, II collected to-
gether IN one spot would not occupy 3
space equal TO that in which London stands.
For surprising the population of the globe
to be equal to 1000, 100000 souls, and the
average space occupied by each individual
to be one square foot, the whole of the hu-
man family collected together m one column
,ro,L3 ,o,,ar i, s,uo-o of' 81 900 f,,at or nj