The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-09
REPORT OF THE POST MASTER GENERAL
". PosT OFFICE DEPARTMENT,
Gcnicnhrr a 1871

SIR Immediately after the suspension Of specie pay
ments by the banks in New York. in May last, crcu-
lar out directing all postmasters who had been
instructed to depose the proceeds Of their offices in
banks retain them in specie TO meet the drafts OF the
department.
TO those who had heen instructed to pay directly to
contractors, another circular sent, reminding them
of their duties and liabilities in reference to the moneys
to be received and paid by them under existing laws
Instructions have recently been prepared, directing
the manner which returns Of cash hand are here
after to be made to the department. and forbiddng the
loanhg or use Of the moneys belonging to the public
fol any purpose whatsoever Copies OF these papers
arc annexed, marked A., b, and &.
In relation to upwards of ten thousand Of the post
Offices these regulations make no change. The only
change effected by them Is that about eleven hundred
postmaslers, who formerly deposited their income in
banks, weekly monthly quarterly, according to its
amount, now retain the money IN their own hands I'LL
drawn for by the department. To about nne-tenths OF
these. the system is convenient than the old,
them the trouble OF going or sending TO the
banks and procuring certificates Of deposie equally
safe, their balances will be drawn for as often
as they deposited and is efficient, because
some posmasters who might neglect 10 depose will
not venture to dlshonor a draft. ...,.... .....
The postmascrs who will not close their accounts
quarterly, will not probably, exceed one hundred and
the balances their hands, from quarter to quarter, are
not likely, under proper administration of the depart
men 10 exceed, in ordinary times, one or two hundred
thousand dollars. As they required to have their
balances always ready in gold and silver the department
will always have the Of meeting its engagements
and if default in individual case should occasionally
happen, nothing like general refusal to pay, as In the
Of the late depose banks, is ever to be apprc-
hended. .. ~. .....
II will be the true policy of the department not
to have large surplus, and consequently, there will be
little to 10 the custody OF postmascrs or others
Moreover the number Of post Offices now instructed to
retain their funds will be largely reduced upon an adj
nsment Of the collection system TO tho mail service, as
arranged within the last twelve months
Though in places convenient, banks are not ne
cessary the collection and disbursement Of the funds
OF this department In reference to more than ten
thousand post Offices the collections and disbursements
effected more expcdtiously and more conveniently
without the intcrposition Of banks than they could be
with it, The contractors who creditors OF the de-
partmcn: It's collectors from postmascrs, aud the
collection and disbursement but one operation. IL
is generally effected in few days after the close OF
each quarter The operation is the same where the
postmascrs pay contractors upon the drafts OF the de-
partmcnt, though ii is tary. The .2w offices, in