The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-12-21

directed them TO be issued without interest The for
mer proposed interest from the date aud for twelve
months only, the latter provided that il they were not
redeemed at the expiration Of that term the interest
should then commence. The details OF the two bills
consequently essentially different Al the suq-
gestion Of member Of the committee an additional
penal section introduced into the BILL with the con-
currence Of the member from Massachusetts The Sc
celsy ofthe Treasury, in his report proposed an issue
OF Treasury notes of small denominations; the bill Of
the Committee Of Ways and Means authorized none
TO DO issued under hundred dollars. The former
recommended that they should be re-ssued the latter
contained no such provision
The next and most important bill, commonly called
the divorce bill was essentially amended The bill
reported 10 the Senate related wholly to the ekeep
ing Of the public money, and contained no provision az
to the medium in which il was TO be collected The
Committee Of Ways and Means added another section
providing for this material point, and altered the title OF
the bill accordingly.
The bill further postponing the payment Of mer-
chants bonds, as reported to the House, contained an
additional section giving credit the duties on mer
chandse remaining in the public upon which the
duties were payable in cash, provision suggested
IN the Treasury Report, embraced in the Senate
bill The Committee Of Ways and Means s0bse-
quently, and unanimously instructed its chairman TO
move TO strike out the I'd section Of the Senate BILL
which proposed to make the additional credit upon bonds
applicable to mporations for year from and after
extending the credit to three and six months all
chandise which then in the public warehouses; or
might arrive before the LIST Of November. Amendments
also made to other bills, but those mentioned
the most material. st
The member from Massachusetts is still more parti-
cular IN his statements about the origin and history Of
these bills He says that the President aud the Heads
Of the Departments originate every thing, put every
thing into The precise shape they wish, word for word,
letter for letter, comma for comma and the Executive
alteratlon-and so far as depends upon them without
debate-just as II comes from their masters at the
White House"
The undersigned, to ascertain whether these grave
and extraordinary charges founded IN truth have
compared the drafts Of the bills furnished to the chair
by the Secretary Of the Treasury with the bills
ported by the Committee OF Ways and Means. No
drafts received Of the bills relating The fourth
nstalment under the deposile act, the banks in this
District, the warehousng Of merchandise II pro-
per here to state, that warehousng bill was reported
former by the present chairman Of the Com
mittee OF Ways and Means and prior to the recommen
daton Of the Secretary those for adjusting claims
on the deposle banks extending The merchants bonds
making public officers the keepers OF the public money
and authorizing Treasury he issued The bills
relating to the merchants bonds, and the claims upon
the banks reported by the Committee Of Ways and
Means, differ both in language and principle from those
prepared by the Secretary OF the sections Of the
bill providing for the safe keeping Of the public money
Some Of the provisions in the Treasury note bills
respond they are, however, generally such
transcribed from the Treasury act Of 1915 But
10 prove how utterly unounded the statements of
the member Of Massachusetts, that the Secretarys drafts
adopted by the Committee Of Ways aud Means
sword for word letter for letter, comma for comma"
and specimen OF the general resemblance Of these
bills the undersigned present the hr 20 first sections Of
the Secetsrys draft and Of the bill reported by the
Committee relating to Treasury notes.
Draft Of The Secretary Of Asreported BY The Commit
the Treasury. tfcU Ways aud Means.
Be il enacted, &c. That BE it enacted by the Sc
whenever the available mo- and House Of Repre-
ney in the Treasury appli- sentatiyes of the United
cable to public purposes. States OF America in Con-
and not on dcpose with the gess assembled That the
States shall be any time President Of the United
hereafter less than FIVE mil States be- and he is hereby,
lions of dollars, the Presi authorized to Trea
dent of the United States notes. not bearing
hereby authorized to drectterest for such
the issue Of acknowledge Jas he may think expedent,
ments of Indebtedness, nIbut not exceeding, In the
the form OF Treasury notes whole amount Of notes
whenever the public officers sued, the sum Of twelve
and creditors willing oImlions Of dollars, and Of
receive the same par denominations less than
payment OF their claims orone hundred dollars for any
others willing ad lone note TO be prepared.
vance money them ailsigned, and issued in the
par to aid in accomplishing marner hereinafter proyid
the same payment. led
@ That the amount of SEC. 2. And be it further
said notes which may from enacted, That the said
time be issued shall Treasury notes, authorized
exceed the sum neces- 10 be issued by the first
sary deay the section Of this shall be
current demands on the reimbursed and redeemed
Treasury durrg the current the United States at the
year beyond the of Treasury thereof after the
the receipts and the expiration OF year from
five millions aforesaid, to be the dates of the said notes
kept in the Treasury to meet respectively The relm-
sudden contingencies, and bursement herein provided
render its operations prompt Tor, shall be made at the
easy, and useful. Treasury Of the United
States TO the holders of the
said notes respectively, up
on presenment and in
OF presentment and
payment Of said note or
notes, after they become
due tho holder holders
shall be entitled receive
interest at the rate of five
per cent per annum from
the date Of demand Of pay
mcnt And for this reim-
bursement, according 10 the
provisions Of this act, the
faith of the United States is
hereby solenny pledged
3, That said notes may SEC 8 Aud be II further
be in their denominations enacted That the said
less than twenty dollars, Treasury notes shall be pre-
and form running TO the pared under the direction OF
creditor public officer orlhe Secretary of the Trea-
purchaser, and order, toIsnry and shall be respec
bearer redeemabe the lively signed, behalf Of
pleasure OF the Government the United States, by the
and transferable by delivery thereof and
and endorsement Of The lesgned by the Register of
ginal payer thereon when toIthe Treasury; aud that
order They shall as checks those officers respectively
or each other, aud for pub shall, checks upon each
lie safety be signed by theoler, and 10 secure the
Treasurer and Register dip bic safety, keep separate,
the Treasury, and accu- full, aud accurate accounts
account be kept by each of the number date de-
Of them Of the nomination, amount Of all
sued and redeemed, the the signed and coun.
Treasurer being charged tersigned by them respec-
and required to account lively which said accounts
quarterly for all delivered to shall be carefully preserved
him by the Register for sig and placed on file IN the