Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-14

,,.vbpn 70 the last Presidential election; but will con-
lon, mvseIr bv referring circulars Issued by The pre-
sen, Secretary the Treasury with the sanction "i w
late President Of tue United States, who, not a"a'ng
the Legislative SANCTION was attempting 10 carry w.
this identical system by Executive regulations lhey
arc follows .d
On the 9Th of April 1885, the following was Issued 1
Treasury DEPARTMENT, Aprlo 1000;
IL is understood thai the instructions from '''s Nv
parment to receive for the public dues only sue" ~
bank The deposi,e banks are Wiling 10
par, have been construed TO authorize me ps.Js,s
notes any denomination. The sn,, and the
ithiohiu beneficial 10 ME currency o. me CUM - .
safety Of the banking agents employed IN kteP''s @
public revenue that the more genera uS' ~ honIi no
he small md ordinary Transactions q So''''y I i
encourapct. and as The disuse oil pahh hoee " n. ,
b.I;cved To lie the surest method I" ELECT
,, ;ec and rs the acts Of Congress DO not expressly
require the receipt of any snch noes, - S " ,I 2H,I
than fire doiiars, you are hereby dfec'eu' ae. " ~
a. rs ber M 10 receive IN pay hlenl Oh any
nI;c d,,s bonk notes Of any denomination less Wan
tee d"Aars ,, = :. in condemnation by
,,,;a non,,,n, ,ner the Sd Of March, 1896 [shouId
f,,r-css in the mean time make new provision on
the subject TO exercise The discretionary powers, ""C'
it is supposed will then belong |" H. over he "
paper money of any denomination !or lhe P"oc
md IN extend The restriction on the receipt OF nnhh o''
Cr il 10 m If less denomination than ten collars roi
the prea, security Of the banking institutions employed
b. The Trcssary and for theimpToetment ~ nc c''[H
en- hy the fuller restoration of that specie c"c"!a' -"
e1uIgn purposes eieh seems Ia haze teen contemplated
by e Consultations il is intended then to maze arrange
m"u,s if practicable 10 discontinue the use ." unl oN
as Gsca! rent which shall thereafter continue 10 sSur
no,es rr less denomination than live DOLLARS ana WHICH
h,m onsr sops subsequent period, to be then desgna
ted continue 10 issue notes Of less denomination than
ten dOiiGrS. ,,;
The course proposed to be pursued hereafter on TINS
subject, by the Treasury, is now indicated with view
N usur sui,ab!e notice Of the changes contemplated
On the 22d February 1886 the f"l!owi"s was issued
To R-ecirns Of Pubitc .M1Reys, CnHtcors Dtsnu'S"@
Ctfc,s and the Opposite Banhs IF the United ot"ftS.
Treasury DEPARTMENT, gid Feb lo,''.
The established policy Of the Treasury Department.
50 far may be practicable under lis present powers
over the collection, keeping and OF e pun
lie money is 10 dinaish Tie circuidti0n n s7rHH bHnk
notes ard to substitute SPECIE mel rspcray G"'d' FOR
such notes Nth he r,o IF rendering ' currency " ne
eounirv irouh nkirh It's fiscal operations are
more Sac SouRd and uniform: In pursuance OF ,nat y"
lcv circular issued las. April, which Pr"iel'ru'
after the Oih of September 1873, III" receipt, on account
of the Government, Of bank notes at less d:n"n
nation than five dollars; and which lutma!ed that "her
steps 10 promote the desirable o!3c!s before hahsu'
would, in due time, he taken
Cnnspouen,lv in further pursuance Of the policy,
you;ae hereby rtGursd,s ev the first OF May nc!'; not
10 pay the d-mands OF any public officer or creditor IN
any bunk notes of less Denomination Than I'VE d"af*'
and except when my be otherwise prescribed by law,
after the 18th of Juy next, not 10 receive or pay on ac
count OF thu Government any bank nocs oi less demo
ninaon Than ter dollars.
All the drpo-ite banks requested to supply them
selves with such quantity OF American Inu com IL W
be able to paw and when public e.cer creditor pre-.
fprs it, and Ia. demand does not exceed FIVE hundred
dulars pay at least fifth of such dennnd IN that
coin II is also requested that the Opposite barEs vii!
nnt after the 5 ct July next, issue any notes ot less
denomination than FIVE Gnurs; and that, after the 80 OF
March! 1887 they will not, unless the Suhjct be other
wise regulated b. Congress- issue any nn;ss OF less
d-nvniua,un than dollars. II is bricYsd that HE
amounted gold which b. that time shall he coined a, The
mint. will be sufficient 10 admit Of he convenient sub
s.i,u,inm Of for small in much greater extent
than present; au is deemed reaS0natc, at rhc tic
dsp0sc baniS hare the riou ntertst q unusually
nrgs Of tie pnJic moncy they should make s''n ar
TIER temporary 10 0bHin and crcGGte geld end IN
okr r:pcciSio cnGc tie Syfcic LGSS Il circulating
MEDIUM From these considerations, and from The be'
raj spirit evnccd By mos, Of the public Grpps'tn'ies ~
late correspondence with them this subject, Il IS cn'
fdenl,y expected that tbs state OF things, they VIII
cheerfay comply with The above reqnes's, aud with all
others which have been made by the Department. with
view of improving the crREEScY; nor will 1t, trust,
b. considered unjust impoic, wh:ie the feposite
banks shall continue To en- icy great privileges from the
Treasury regard neglect refusal hy any Of i!cm
comply with those Teqass IS sufficient cause Tor
disseminating The employment OF such banks as h'ca'
agents.
Al proper time i, will be decided. under what cir
cumsianccs and VIVA, periods these restrictions the
agents and officers Of The Treasury shalt he extended 10
notes OF any denomination under twenty GD!'ara.
This communication IS made Nth The sanction # tic
Presdrnt IF he L s and, it is hnpcd that. I'LL other
wise prescribed by Congress, or by This Department
these r-ouirem-ns and requests will b. faithfully
piled with by all the fsca! agents Of this Department
and all the collecting and dsbursng officers rf the Go
rcln.ncnl LEVI WOODBURY.,
SECRETARY cfMe Treasury
Now Sir | would respectfully inquire why it is that
the "currency bill" is much denounced and lis author
Mr. Rves. much censured By those who so strongly
favored the policy which IL proposed TO carry Out
Mr. Canbrelpng planel: ('rhe gentleman from, Viz
GINA mistaken; he had not denounced Ii" provision
referred he had merely repeated the language OF the
Opposition about Collecting the revenue IN specie. On
the contrary he would readily adopt the provisions, as
calculated bring about the collection Of The revenue III
gold and silver evidences Of debt at earlier prrd
than that proposed in bill As to the entire currency
BILL there other objections to il. 1t made 1t "diga
t0ru Government Ia receive the notes o specie pay
ing banks and deprived it Of the common right Of every
man To receive refuse them at pleasure: w" denied
the constitutional right Of Congress 10 make Gank notes
a awful tender in any case
am gra,iticd that The gen lenan from New York ha
corrected my misrepresentation of his remarks; was lee
into tie error by connecting with the Of his
marks the fact that he had voted against that bill The
reasons which induced the gentleman from New York iC
vote agan,, that bill thnk entirely llisfaciory
insufficient Tia, hi! did not make specie paying bant
isgnl tcder in sens" OF the word, did
cprrce the Government in the s'GhteS, degree IL Tin
act Of the Governmen, i,ssf-ts voluntary drermi
nation to accommodate Itself 10 the demands cf com
mcrce the facilities of trade and the convenience Q
tic people, and mere direction, in the form o
law to the officers Of the Government TO execute Thu
determination: determination which il might, al any
time, have revoked. II COMPILED 10 receive
dollar in Bank notes, in discharge of debts due to him
either from individuals or the government and coase
queny did not make ihcIn legal tender The subsr
Gnrnt bill introduced b. The gentleman and ysClf
to which, the gentleman from New York refers WEI,
based upon the Identical principles Of The currency bill
and sought TO carry out lie policy, with
| dica,ions of details The dsiprmes Of the last %
these bills which presented in the Senate during the
present session. are Of very m0dcrn detection, and ouy
prove what varying opinions changes Of circumstance
| produce.
was decided advocate Of the policy re the "cnrren
| cy hill" aud am still such advocate The more have
reflected the more am satisfied of its wisdom, aud fec
hesitation in asserting ,h, there is other policy b,