Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-12-13

Cw nipG banks 9nI.!c vi the States 10 re-
ccive those proportions, sufficient parts OF hrm w''n
tlry hapPere be either collected there: 10 be in
cide"'ap and easily transferable llc!e.
Thus ia" trouble and embarrassment Of second aEd
sudden transfer in January next and quarterly there
acr dGinI Tie wear, ctien saved by combining III
srrrra appropriate The transfers ordered by Con-
grr$s 10 he made from banks having al excess,
with The transfers of that other banks in the
States where il 20 be pau during the present year
appr pTiaons, "r the ensuing year The appoon-
mems and in which last dcg2I!5ed lcnks and States
deficiency existed. In his way, several occasions,
the oop0rtriry has been improved, Of beginning 20
perfect, gradually. and. in degree cotempora-
I:0aiy, between places near. suitable. AID c! easy in
Accommodation, tie rTca; 3Ht difficult appur"nncnt
o: tie d"p1sl'"s Of public mercy among several different
Stiles as well as atnnEg different banks The whole
Of rauftTs ordered smcc the frs: Of July last,
have of necessity, been at times very large; bu, many
o? them have not YET taken eject; many are still
t. be ordered. and TIE whole amount necessary
p$ both d ecis will lie less and their operation eaSirr
than If different had been pursued and the
arpnrnmlar:s between the banks and the States, bad
nn, been United in where practicable and ccnvrn
emit and where large eccmnu"tIons existed the one
hand To he reduced, and drccnc!rS on the other 10 he
supplied Their union in such supposed to have
been specially contemplated bv Congress- explained in
tie second ana Supplementary rpos!te act PASSED in lur
and, seemed just 10 the several States which had not
Jr!re or nvrit nuc!: any benefit sr" the deposit" and
usr Of b. public money within their limits. Hence. while
.amv tran..rs have l.en ,.tnrac whca feasible under
the Jaw, and desired !rc.p Abc considerations connected
with the great pressure in the money Market and which
pressure tiry would though authorized By the acts have
severely aggravated, yet great has been employed
not maxi sin! re transfer, except, IN the language Of
the first drTns,e act, 4" 10 facilitate tie pnhIc d!s
t,rsrEinls. and 10 comply ~ill the prnTslnns u tie
acl: OF a. described fully in I'll" second ac either
prevent large amI announcement accumulation in par
l:ciar places in order TO produce due equality and
just proportion, according % he provisions OF said act
4 transfers ordered. 3ie likewise been ,Ciied
in respect t. e pac" and business to produce .he
J rlS II
or the cuM.WIi", consistent with faithful cndcavors
10 rxcc". the Inv both snHjrcs srasoHAbIy and ell
tGicni;. They have bcca So conducted. as also to re.
lrvr the Treasury from any expense wlrtrv"r in IL
narIci opsr ,!i !I!ays and unusual. Bnt N car
ryny 0lt large II J!I!"G operation is the new
law drnnrdc, ana neither comparing with our
sa, fiscal proceedings; Glowing the obituary chan
i"ls Of trade, Il has required great caution not 10 cr"-
al. mere embarrassment than has really occurred from
tbs Source. aaI greater arrangement in exchanges
lEan actually Exists l.: complying with the drpoSiiH
has already been found necessary to appoint forty
ciht more bar!!.S, Masking the inst instant with the
G.r.rpr ones witLm:l -T branches the whole number
Of cigh,y-oGe. TIE ID 'pi.tnient has enGeav"red IN
these selections, to conform IL The spirit Of the act Of
Congress, regards their convenient location Tor nc
communicating either the collections the disbursements
OF the pubic money II las in all cases required
The preliminary information made necessary by the
act 1t has cni9ned: %h.sac. at least o." 1a'k n
every Stat. which ia! banking Institutions aIG when
inc!dcd ali except Missouri and Il kansas IL has obtain
ed from each bank a.wrru agreement 10 comply with
tie duties prescribed b" a and in every case, cx-
ccDt :ou. or ire dy2ncd suitable from peculiar CIR
cpus..rccs has recr"r collateral security Tor the uih
FIJI iu!mcnt Of these agreements ana has cndcavored,
from lime .iinc, 20 make s requests on the subject
Of speci and ether topics connected with their condition.
ana their mode Of ranSacting business as seemed con-
dnrivc 10 safety and pnblc con'rniencr Inc names:
each cgnsile Jqnls with Ike amount OF puo!:c money III
each and It's detailed condition. in all respects, the
LIST Of November, 1886, exhibited in The documents
ANNEXED a. l. - lat another document (F) IS present.
ed ,.u. fully ana recently, the condition vi those banks
with this d. parisn it shows by their last returns
10 The Treasurer tie st s TIE :ninHal OF pubic
,nncy ,hr; hand the outstanding drafts then against
ltr and the existing transfers to nnd rom eacn hatR'
A number x the States have Grposies sufficient,
with the arcrnr rcv"nu", meet al! tn" probable de-
mamds wnin ;lrlr limits tho next year But IL Is "'icF.
with srvcg!.Of them, a2l. where money las 40.
y. been placed in each State sufficient To meet the pro-
.b! amount of de Tositcs required there during the
first quarter Of the next year. Tor expenditure, az wei! As
apnortionmrnt has been or Will be- put under orders
q; transfer So AZ 10 reach there srasonaDty.
Numerous difficult and embarrassing questions have
arisen IN tie execution OF the depos:tr Act
uuence OF The novelty Of man. OF It's PROVISIONS and the
uupu,Iai operation others soGe oe repositories
B; where treat doubts exctnd, to Ie true attention
of tn. law liz. oi!:u:i Ct The Attorney Genera! :as been
,.kcn When that opinion has been nnIavorab.e 10 the
Y:eus rnrrlaued under the la'" rs u no" Stands, NE
parties haze been !rt they must always he III srrh
eases Of supposed inequality ana E"da2!E"'o resort 10
Congress tor appropriate relief!
1t ls therefore, respectfully suggested, hAt relic! oc
the past may be proper III several cases, witch IS ant
cipa;rd the parties Interested VII! present |" u" cons
tra,i,r Of Congress- For the convenience d: ih!s Lr
ua.ut IS desirable that provision he made tor the
inlnfa that aly Gg-cy fUrnsh'ng ample sr>n'y, HT
rcra,drd under the law as having The same separate
c,r,l re established the bank n which II briongs
# is further recommended. that authority b2 gwen 20
discontinue such Of the newly selected banks rs hhy
FROM l:c To time 2 II" longer needed Tor iI'c or "'!
purposcs. \ large portion o. them, alter me c'he'
plated drp1sitcs are made with tho several States wi
nr,irr
nr returns and correspondence Will con.nue 70 be nnr
drns3mp h ali c"ucerHri
immediately alter Tie passage OF the %", became
h. dn,y of tbs Department among other things, 30
I,c , tic rut nu.ye Ot Lzi!!s hold lie puSIc
nav w,Yu. exceeding t!Irc"-!ourhs oil The amount {"
ln,ii c.pu,s aud at least III each STATE i':l"g
banks. As il seemed Impossible TO carr these Pf"vS''
INTO execution III several Of the States. unless Banks
should be selected winch might possibly nave ISSUED OK
pol on, s,,4. SMALL hills after The !oa'ih 81 july, 9h;
hr,ra lirv ha.! cp,:iccd lie agreement, and asshicu
tie du;ies IMPOSED by the act ii thought HAT ma.
u;ai coastrut given 10 th!i miti'i III 1al FSS'
meet would make Applicable only to such banks az were
selected and sab eel 10 the Law n,e"ous 10 ial da'p aho
That tt, others aust like principle MAKE any
sncb ,ss,,.s after l.ci. selection. Tbs woGd l'nhIt
reasonable and practical effect to The c!anse. a"'i ,!
The same lic u1t lend entirely 10 a"ie"l ice "pe
ration Di other pTOrsInTs @, Tie ac,' accordingly
o,..ic injuries vrIc Instituted whether the bnnis
t. lie selected had Previous 20 t!ic:- application
sch Bills not; hu! al require at The time
ol their Irciior enter into express written agree
mPut 10 c1nin TO the provisions OF tie act ana c"'
creu,ly not ,u issue any while they public d"pos:>
t,cs On rosc mature reflection, doubts h@Has sHn
whether this was going iht enough, ana ~:rer any
banks which may have ISSUED small bulls between 'e
.ll ii Juy and their scpcton c"c!a III stf'ch ~, "e
rc,;urL or could have been legal? appointed, II was
c,od ,ronrr to take tie opinion Of the Attorney Gt-
neral on his point, He co"f[aGd thee d,u",, ,s::e
cn:nncndcd the submission q: 's sn.rca 10 T".s''s',
hrto, disseminating any Gi iHe DAMS "h'cn upon ~"
yes,,.;rr II ght Appear have made such issues BE-
! s,r ,ssr,,.r;ur into the ~ :rc!I!cnt.
Tk nDar:rucnt would, therefore, es?eo,fuily recon-
,L ,h,. en- act be nasaed. sanc,OnEg the selection
,o,;nuapcs Of oepusi!e banks which ,%ay bt ST.!