Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-12

on the order Of the Secretary of the Treasury approved
by the President the Secretary shall report his
to Congress- if in session. otherwise in the Isl week Of
the next session Of Congress.
T. And in order that the deposile Of the Federal reve
nue. thus made shall not be endangered made useless
to the Government IN case OF emergency there shall not
be deposited in any Bank, at any one time more
than 3 or millions Of the public revenues and all over
tina, amount, in any port of collection, shall be deposited
in other Banks more, as The case may lie, under
the guards and restrictions aforesaid
g. That after the year 1910. or earlier, il shall be the
duty of the President of the United Slues from time
Time Crowded there should be any defect in the depo
safe keeping Of the public revenue, at any point
place of collec,on-and provided, the banking nst
buttons of the county, at any or all The places, should
not answer the purposes hereby n,endedn) TO suS
gest TO Congress the proprety OF causing Snh.lre
sury, any al! the points that may De detective, 10
be erected for The depose and sale keeping OF The pup
lie
g. And provided that the notes Of other specie paying
banks other than the Deposte Banks shall moi be forced
The Opposite Banks, cash. without their assent and
provided that the substantially thus given 10 the dePoe
Banks BY the confidence placed in them by the FeteaI
Government, and the disbursement of their own notes
as ca-when the creditor CHOOSES that alternative shall
be deemed sufficient compensation TO tn" same, Tor the
safe keeping and disbursement Of The Federal revenue
at the places al which they located When trans
fer is required of the revenue payment of the public
debt such per cent may be allowed, may be though.
reasonable and just by the Secretary Of the Treasury
or hereafter TO be provided by law.
PIOttufh
or any other medium Of payment as Treasury notes,
now made and provided hereafter made and provided
by the Congress Of the u Srass not intended here.
by TO be excluded in the payment OF the Federal reSe.
nue..
| viii now make short examination Of The contents
OF each enactment, trusting it shall meet he aPproba'
lion IF Congress and the President
The contents Of the lsl will be- that specie paving
Bank shall be received until 1910 in the public
revenue-This will give the Banks one year and six
month";, unless the immediate wants OF the Govern.
ment should require it, (and then they ought 10 hive il,
none deny for the Constitution OF the u S does
not recognize paper legal tender, ought it ever
The BANKS in the mennme RAY strengthen themselves
10 any extent in accumnlatng specie. The renarka.
bic fact strikes once, that there is must be
100 millions Of specie in the u Stntes 4, this time
80 million more than existed before the much and
falsely abused Administration of Andrew Jackson com
menced will also observe that million OF gold has
been imported into the country since the ls January last
This will give time To the Banks, and by the year $780,
the country may be flooded in gold and silver; and
by lSi3 or as
The great speculation by individuals md companies
in the public lands ought to be arrested. The public
lands for the good of the nation at largeand arc
and bought up by the national finances To
advance speculation by companies, &c, &c, &c let
speculation be arrested it cannot be dune too Al
1S4O Congress can look around them and extend the
sales, in their wisdom they may deem best and
advisable.
9 Provides. tina, after 1870, only one.tenth part Of
The accruiug shall be paid in gold and silver
and one additional tenth every year. until al! is received
in gold and silver This will not affect the Banks nor
any nteres. IN society.
Can Mr Benton O MIR. Rises, or the President,
object 10 this Ought it not 10 satisfy all partlPs-lhe
Conservative and Sub Treasury gentlemen? There is
room for qnbbng e9uIVocaliOn. lie, who IS The
friend IF the Banks, but approve-tor there 10 no.
thing but friendship in it to those 10 say the least i'm
PRUDENT very imprudcnt institutOns;-and if this will
not satisfy the Conservatives, 1t Will satisfy all MtHftn2
men-that .here is something mare in this sqnabbc at
> WASHINGTON prPgcen-
al views eucessire ad e1orJi,nnt jauoris those
institutions deeply rooted in the mind o one OF The
opposing parIicsnot 10 say facrons-and at this time
such feeling betrays rant IF patriotism, TO fearful
tItcni and those who ihus aspiring, will find to their
sorrow when it ia too a.e, that observing and ndiS
nanr people have their eyes fixed them aud their u
ture moVemenis-and 40 unto them who would ruin
their party for self aggrand cement View Judge White,
md all like him. He lives monument Of his own
downfall.
The other opposing party, he Sub Treasury men,
ought and must, and will he satisfied II is all we can
do--all get. Ii is not much as we have n
right 10 Gsk but ought To be satlseedPerfrciiy
We receive in gold end silver, gradually, slowly and
silently, The public reyeDnenne tenth part every year
-ua;iI the whole is receivcd-a little longer than we
had right xpectbul in The present aspect Of affairs,
: all that need ask.
The principle is recognised tina, the Federal Govern
ment receives its dues III gold md silver pr0speclvely,
o until thr whole is rrceivcd-n principle recognized
BY The Cnnstituiionund placed 10 the benefit and glory
Of HE country, in SiHtc IF cHcrgtncy The patriot
hearts erraiea dcsre is satisfied The Conservative
The other hand, this gold and silver in Special
Depnse with the Banks and the Banks gamers, and
strengthened by it, After whi's, nearly all the drafts
from the Federal Government will be paid in their paper,
and they can Just coun out much gold and silver and
place it The other side of their books their
coun-and 4 is their orH whfn the drafts are paid
that will give the banking institutions OF the country a
sDtdi!y Chose that receive the public deposi!es thai,
herctnore they hive little dreamed " This ought 10
snti<ty Tie Conservatives 10 his hrart's content.
l.. al, nj IN ilnt IN
derired and deposited shall be placed special de-
p0Ss, in solvent Banks which the Secretary mny from
time to tine select such: That the said banks shall
make repurt Of their condition. from time time, the
Secretary Of the Treasury, aud he shall report II 10
Congress by the lst OF January in each year This IS
only safeguard tor the public frcasury-and both par.
, ties ought TO unite on it. Patriotism, and justice 10 a
tar. pGying people. demand acgncscence.
A. l., that the placed in the Banks shall be
credited cash. and used by The banks in their ope
Talous but 10 remain fra. until called m by the proper
Treasury officers. This, all will agree, is right and just
also, 10 ,axraying people The drafts from The ltca'
sury Department, may be paid in bank notes, al the op
lion of the holder-and all know, from the facility
of carrying abnut blnk notes. instead of gold and silver
when the credit Of; tie depos:tp banks, if prudentIy
regulated will stand high, That much the largest Por
ton Of these drafts will be paid in bank notes.
s. Prohibits discounts This all vii! agree IS right.
g. Provides in the Depuste Bank octs with per.
Gdy towards thc Government, the deposile may be re-
moved by the Secretary Of the reasury-approyed first
bv the President: The Secretary reporting his
TO Congress- if in session. II not the first week Of the
succeeding session. This, the Conservative aud Sub
Treasury both will agree is proper and right
Z. States, that fearing there MAJ he difficulty in the
Federal not being easily al, there shall not
be more than three million in aay one Bank al one time
and the ovcpus may be deposited IN another or other
Banks, the might be. This, all must agree, is q
necessary gnsrd Increase 10 four rons ii you choose,
but you will hsd three millions plenty any Bank.
g. Is necessary provso, considering the faacy Of all
human institutions and affairs aad leavesit with
ther make sit the duty of the President Of the United
States in of defect in the deposite safe keep
ing of The public Revenue, al any time or place Of col
.cnn and in the banking institutions Of any par