Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1837-09-08
WI " : $ A G. T.
FROM the
PRESIDENT OF THE UNITED
ST'AprS

" nm congress.
FtH1C CdiseaN Of The Senate
and Uouse Of Representatives;
Tho act ot lhc 93d Of Juae 1885, rcGGla.
tur the douO.i,cs OF the public money, 0nd |
directing The employment of State District
and TcnuHrial Bank for that purpose, !
made T. ihr dl'y ~ tho Secretary ut tn" |
Treasury to discontinue the use OF such ct
them a, should at any time refuse to redeem
their notes ~ specie, aud To substitute ON. |
or banks, provided "A sufficient number
could be obtained 10 receive the pubic de-.
uOsitcS upon The terms and conditions here
~ prescribed. The general AID aim ISL
Simultaneous susp 'nsinn ot specie pawn Hns
hv the Banks III May last, rendered the per
tormancos OF thus duty Imperative, IN re-
speCt to those which had been selected un.
der The act; AND made 1t, at the sf,mc time,
mpractlcable 90 emp'oy the rcQD site nun
Der ot others, upon the prescr bed condl-
tons The specific rpgula;lops established
bv Congress Cor the drpo-tc and safe keep
ing Of The pobllc moneys, having thus I'M
"xpnctcdy become imperative, felt it 10
be nv duty to alltrd ylu an early opror,n
nifty for the exercise ot your supervisory
powers over the subject,
| was also led to apprchend that the sus
pension of specie payments, increasing the
embarrassments before existing in the Pc
Cunary affairs Of the country, would 50 far
diminish the public revenue that the accru.
ing receipts INTO the Treasury, would not.
with tie rcscyred five millions, be sufficient
to detay the unavailable eXpence- Of the
Government, un'iI The usual period for the
meeting OF Congress; whilst the authority
SO call uDOn the States, for potion of the
sums deposited with them, was 700 restrict
rd !" enable The ID 'parllnent to realize a
sufficient amount from that source. These
apprchcnslons have Oeen justified by sub
scqnent results, which render it certain
that this deficiency wiii occur, if addltiona
means b. NOT provided bv Congress.
Tne dllianIllcs experienced bv the mer.
camille interest, ~ meCilrg their engage
menrs. induced them TO Apply 10 me. prev.
ousy Ia the actual suspension uf specie
payma8,s, for indulgence upon their bonds
tor duties; and all the relief authorized by
Jaw was promptly aud chcerfullv granted.
I'he dependence of the Treasury upon the
avalls of theHe bonds, TO enable it to make
the depnsies with 'Eie States required by
Jaw. led mo IN he outset t. limit this lndul.
lcnce 10 The first of Sept ember, but it has
since been extended TO the first OF October
that the matter might be submitted to your
further direction.
Questions were also expected to arise in
she recess. IN respect to TIE October install
nent ";,hoSe deposltes, requiring the in
,erpo-Iinn Of Congress.
4 provision Of auather act. passed about
he same time, aud intended to secure a
faithful compliance with the obligation OF
the Unied States. 80 satisfy al demands
Upon thea ~ specle or lis equivalent, pro-
hlbued the offer ct any bauk note, not con-
Convertible Oh the 500, into gold or silver, at
the wall Of HE holders and the ability of
the Government, with millions on deposte,
- meet rs engagements in the manner
thus required by law, was rendered very
dnnbttu by The cvcnl to which have re-
ierrcd.
Sensible that adequate provisions for
these uneXDcCted c%igenCIes could only be
made by Congress; convinced that some OF
them would be indlspensably necessary to
the pubic service. before the regular pc.
rod Of your meeting; and DESTROYS also to
enable vcu 20 exercise, at the earliest mo
mcnt, vouS luIl constitutional powers for
the relief OF the country, could not, with
proprIcty, avoid subiectlog you to the in
convenience OF assembling at as early day
as The state OF the popular representation
would permit. | am sure tha, have done
but lusllce TO yonr feelings II believing ha
this lucoUvenlencH Will be cneertnllv en-
"OunGrgl, 10 the hope OF rendering YOU
meeting Conducive to the good OF the coun
try.
During the earlier stages of the ievul
sion through winch we have just passed
much ACRIMONIOUS discussion arose, an