Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-09-21
s'Da.1'TaG.A
REPORT FROM THE SECRETARY OF
TIE TREASURY ON THE FINANCES
coSeLupFD.
VI. SETTLEMENT wlrH rHE roRHga opposite

action OF Congress Is, the further indulgence WHICH
II may be proper to cNtrud 10 such OF the former
deposlte banks are stIll Indebted 10 the luitrd
States,
The facts "hieh are supposed 10 be necessary 10
MD Congress forum. correct DECISION THIS
subj eili b. fall, sub ut.d. The pcris to which
those banks were exposed had caused To tile Depart
me / much solieute far several months bco,r tn
Suspension oil specie pa,nents, aud led 10 sumo pre-
cautlondry sur gest winch II tel bound ~ make TO
ia la rs appeared consistent wnh the usual
r ncples =" banking ia tins county, and not calcutta
ted, by creating suddcn alarm, hasten the caiasero
Pie that has >,nce happened
Besides the general cautions With respect 10 the eN
ceS4s oi banh issues and the dangerous consequent
ees hc 10 en>ue, winch were detailed m the last an
nnai Treasury report. several instances occurred
whrrc. the course oilhc business OF some oil the de-
poSdores appearing from theh returns 10 be iJudl-
cions special letters oi aiyiee aere darn.d purcr,
and "ric written. rigd system IN requiring ad'tl.
no al specie also pursued III all case I'll Unusual
def, enty In regard To the Effect oi these steps
the hluos, ii .ori,the uudei asuel pleasure 10 aid.
that fro the completion of thcu selection aicr the
posue act passed 10 the last returns before their
pension, treat reduction the circulation,
NC as discounts o. III my III lhrm, bad laNeu place,
and, III severed cases, much Lar .ef proporuon OF spe-
cir WAS k.rt on hand. Indeed, considering the ex-
traoftuary amount 81 public money pHd out by
them bctwrrn Ia November and MAY. mounting 10
neal tweaiy lndhons maie ,hiu then eIlas ourug
the rrod tdlt hi .hiy errd ahlr 10 thrIr
prudence and ability that he sptc' Oh All VAS tedu
ced only from about iiitern To hf mil oa> lnd
ih.r ustIon instead OF lntrcasIrs 'ii troi ncar
lorly 10 ihufy- scYen inllIlons.
As a whole. thers pcci", umpued with thtir Car
II dion, conli4urd to b. am,sl ~ rye IL Man Il,
IL November 1t averaged molc than one 10 !lrre "r
much norc tiin has b.c, c,i>toius, With the hulAs
N hs country aud was over oub.e t rcat.se guam
t!ty held by All the BANKS l. England Al lie sun Pc
rod. a..dwas IN pfuporuo '-iour,h larger tla4
.a Ia h Is ,nh o. ~ ltnd lj,ci Iheir nn..elauc
nran5 are,i wAh rt rninr nat" ll.blt,s, were
so,..."I lat nc rrrla y ve,nnri ll, IN Man. hnt
Nr IT nj. rlnls IL, Any uur tot~o All lti
4yr4l ehln lne u>ti, a,o, "a tlinr-,
y n, utcl h,c a n , IN. .. . ,J,l.cs a. ps-
q s,rpp
Il, tll4 conlpon .; thng> tie s,,s; en-, lo o. ,,ccle
p4Yslleu, u tlr ,.r 10 c D,-hs ~ MOI ru-
Ir,3,> .ri,tlcayal,.I
The policy -;l,cr l,iIsIpd b, most Of them has been
CyVr,,, 10 an P,ri. ,il,,a,.e OF incif cu.,as.in, T.,
,te l4c.,uY, and 10 = resumption OF .j.slt paw
n,-ns. Ma, 1.d.r ai.ldut.ts ithUccd tatu III
"a, 81, All ere t.to l. 4, We, Is aud over nlula
epia,tc l,., o..c,. ms ~ !, H. rnarr l.uly gen
In he abb, anii,.th. .s,e L., lst ui Nav. men
,,,~ AZ 4 whole have ne.n /, uucrd auuit SO
go. 10 inl ,ifrt,5tn,. : 94I 1gl, al,a .ncH
## u,pa,ii= : 10 co. SIS h4I, iIivu aiser,. nds
= ....l H.. ,saa - OuU ! u. OtlUr uauiIla OF
~ y,,> l,a,L c,.i,. .o> c,tt e lrue vi lile 81, e.
,r,il IN on ,yeu are s,I,.pu ed 10 I..c ,d u,ei i,
- ,l,l# luo.ie ilt4 "a, .#r,,lu iiirl, ro.sssslon
TO rae er,,.It Of IL" Ii .t>irst. H. tI!s tizlD>
mon, "a IA NAH IN. ufnc, an ,,f,,le oil ie,s ln4a
500 oGA t,q.iils uIllduS ed. ~tte1A oI tlr ir.
un.., ,rot sums: ui many Of t,riiI have con
Tuned prunpt> 10 tulaI,h such PAYMENTS om time
10 gI,,. Ia c.,ag tne pobae necr,slle,, sli,t .c
coni.np to III Ia, NJ mt, The sIJIe ri
a,,,, TO ms cred remaining unpaid IN al ot tnelu as
n Il, Slo al,utl
Tie 90 .,,. iui1lrI IN re sprct o the d.poslrs OF
I.,u,.,,, .,rs , In, ,iIsu, sot, OF ,;rclr I'll, :
tneiI. aid WI IL ...rs 10 Sutr.>, a, VII u rn-
co.,.a, IT,, -,I!y r,-lu to4. OF sud = sm.ns, NAV
! h, .rrn mnIr nv, / l.. a.. cuiu,lt ar,,r>
/, csu,,tri,4I p,o.,+r,3 proceed AZ attempt
i,hl,.,,, ali die n, bic, mon nom m, dl.uul.i.
,-d a. -. It vas ,.i go tor pu..l.e tui,.o.
! ,rt an y 3iai ,iut# Die ,irlo>.tr,s ,ou.a ~.
,,c,rri t., re, any DING obisi able ,r>oIl ,licii
,,ouo, Ent u, l., IN. l3ia.cr au,il;. apa .ca 10
H.. srrnr. a Il t., !4e ln,.i. tr4peI# cr.,r,s 10 nc
: II rail 4.r,,.d ti4ofr .otiot W. , III. e,.atuai
.,f.f ,f III. ma ,,y and NOR. CONSISTENT NHh ttGr
~ .I,,I,, =, wed i, nc cunyrlIrn,. 81 tA. lt,H
.ur; 10 ref II 10 n an ,.css,ar, pro etutlo ~ aI,l
c,.,s Mi -. t,,< s,..,,, OF a., res VIM II had
been died, IN pat Tor cousld d,ioa uI th> SUI
irrt On .h,., o4t.ar> wh u ans OF the b,hk, per
s,sri in n, ri,rtnG to ui,uc tiic pldsut oi
CIR a4in,cu aud II, ma n. rca,on,hie etous 10
d s. II ict drafts Ola hrut accept bic manner.
tar Departluen. Cuu,iHl II dnty, however nn-
pl,..ast To deliver her Ircin. MS aad bonds TO
The s'oiirIlnr the Treasury tui sn MS has al
ready been done ~ nlnc cas-. M some matter
OF - e. auto,. to oula.n adduiunal srcuri!y beyond
uh,t had bccn gwen and In others 10 take ptc-
liDnIry sens for an ACTON T. ;,list the surcues as
u~li rs tn rrncIp ds.
Some ol le additional banks. rendered necessary
to cry tito riiccl oe OF The PROVISIONS oi late
y stc act na,c on lhs oc,as ,on, proved tho Ie',