The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-12-19
Sl,Ol9,327 60
Total disbursements

It is not possible to distinguish the amount re-
ceived and disbursed in specie from that in other
funds Ofthe deposites in bank it is presumed that
the greater part was in bank notes, having been
made before the suspension of specie payments
The Department has no report of the funds in which
warrants on banks have been paid. 1t is understood
that five banks have continued to pay its warrants
in specie since the suspension, and have SO paid
$3.50 g. There has also been paid by the Bank
of the Metropolis the sum Of 1886, 426 II in specie,
which was specially deposited.
II is probable that most of the balance as we'll since
as before the suspension, has been paid in bank
notes. If So they have been received by the crcdi-
tors ofthe Department Of their own choice for all
warrants banks returned with proof of refusal to
pay in the legal currency of the United States have
been promptly paid in gold and silver. No drafts on
posmasters, drawn for the purpose of paying ba-
lances due contractors have been returned for Tefu
sal to pay in gold and silver, and it is not doubled
that nearly the whole amount has been paid in that
currency. In that currency, also, the collections by
contractors have generally been made. That there
are many exceptions in the ten thousand post offices
from which the contractors collect is very probable;
but only nine posmasters have been reported to the
Department for refusing to pay in goldor silver and
their aggregate quarterly balances do not exceed
81 525 Eight other cases are reported, involving
about 81 600 in which bank notes had been received
by district attorneys and others for old debts due the
Department In some of these cases, the notes or
certificates Of deposite have been returned in others
retained because there was bad prospect of getting
any thing else
l. "The regulations touching the funds to be re-
ceived and disbursed If any, other than those al
ready communicated"
No regulations not already communicated have
been issued.
s. "The instances in which those regulations
have been disobeyed or dispensed with"
In no instance have the regulations relative to re-
ceipts and disbursements in the legal currency of the
United States been dispensed with"
There is no law or regulation expressly requiring
postmasers to collect hostages in specie or It's equi-
valent. Gold and silver constitute by law the cur
rency of the United States and the standing regula-
tons inform postmasters that they will be response
bic for that currency or its equivalent and that no
credit will be given them for depreciation Of bank
notes or for counterfeits. Before the late suspen-
sion Of specie payments the postmasters took bank
notes on their own risk, being required to account
for the legal currency. Theten thousand collection
Offices remain on the same footing still and the only
change made BY the circular Of May ID, 1887 to the
draft Offices, was to prevent further depoSites in
banks To ensure greater certainty In meeting the
drafts of the Department, they were required TO re-
tain the amount due in specie The former regula-
lions in reference to collections were not changed
refusal TO pay specie on demand, are rather viola
ons of law than Of the regulations oil the Depart
ment and are SO treated
6 Separate statements of the aggregate amounts
lefl In the hands of collecting officers, paid into the
Treasury, and deposited IN bank, the mint ana us
branches, or other repositories, since the date first
mentioned"
The amount lef in the hands Of postmasters since
the FIRST Of MAY most Of which would have been de-
posted in banks under the former system, Is S54,-
BE 81.
The amount deposited in bank, as exhibited above,
No deposites have been made by this department
In the mint or its branches or in other depositoie
nor has any thing been paid into the Treasury.
In further explanation OF the operations oi 'nis