Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-05

A circular was issnfd under the i,lccron # Il
President of the United States. on TIE TN e. ! .
1886, which, after I CERTAIN period, ?io!..Urd a.,
rency from h'n- taS!E- H. pl,#'..i .. ...
except specc-nu Authority Tor The Issue o.! H.,
notes being then 10 cxstelce.
This circular did not oGderu di.lcTcHt mpGI1. o..
taken for duties yet, the various contained
were not applicable 10 the revenue tEnm customs ~
practice had existed before, and has hrcn cpntilr.
since to receive bank notes U! certain character N ~
ment OF duties.
I'm this condition of things, and without any nsm
gisalion either To extend the provisions {" that Crra
to every branch Of the revenue, or 10 abolish the Yic
OF taking bank notes for any branch OF H. Con1'-s.
rectcd by the resolution above qnoeu maj no G!rre
or discrimination shall he created or contAu"G IN g..
by any general order emanatlng from ths Depa:.m..
II has thus been made the imperative dn'v oi TIE Sec
tary Of the Treasury either to require The cosct0l
the whole revenue, IL all lis branches, IN gold or s7.
or Treasury notes, or IL permit, under such res'fc
as the existing laws impose, and as the safety OF ID.
lie money may seem 10 require, the acceptance Of a.
notes for lands sold well as for other public doe,
However desirable it may be account. q
the receipts and payments OF the General GOvrrra-
shall be in the currency provided IN the CoHs,..g.
and however inc xpedient It may be to give undue Of
courapement TO different currency, which by i.
tualuus in quantity and value often renders tie 81
of labor uncertain, gives instability 10 the value VI p.
perry ard thus enables the art!ui 10 accumulate Ne.
AT the expense OF the unwary, II is not believed '
this Department find sufficient warrant ia the o.
ceeGngs Of Congress, or in the public opinion, 10 -.
~ the sudden and total exclusion u this time Of
notes of specie pa ing banks from reception ioT lu.
dues OF every description
important changes have also. taken place since J..
lS3G in the condition Of the banks und OF bu,ne..
neralv which have diminished The necessity for u..:
al checks on excuses and over ACTIONS
I,lr hv those lost.
accommodate the public debtors far as mpgtlac
the restrictions of law and The safety ct tie PccGLs
interests committed to my care, ieel ooun" 10 rU.
the uniformity now required, by awaiting myself d
permission given ~ the resolution oil 1910, 10 Ters
The notes of banks, and by extending. under sua..
mutations, tile receipt oil sucn notes 4uay 70 a.. SdL
Of the public revenue.
The limitations as to the character OF the noteSTsce
able will be such required by express laws, u;
niece .sary implication. Some OF these limitations a
ALWAYS except at one brief interval been adoPr:
ptactce since the formation OF the Constitution, an!
d.smed essential to maintain 4 sound currency 80 ~
pensable to the prosperity OF trade and healthy s
nubIc morals Others have been introduced more
Gently TO promote fiscal convenience, The pubic secgi
and an equal standard OF value.
LIST, You will, in conformity to the obvious !nten
the resolution of 1916, take such bank notes only
payable, and paid on demand, IN the legal currency
the u. s.
Oh You will receive none Of a less denomination Il
TWENTY dollars the Iecep ton Of all smaller dcuomi
lions being virtually prohibited by the second srCl.n
the ac, of April ll 1885, which iorbidS their being
m, ,o anv creditor of the u S. Though smaller no
offered for duties could from the neafHess % Lrak,
most seoports, be taken, and easily exchanged BET
making payments, yet, from the remoeness Of m.
land offices from banks this could not be effected G
without much delay and expense; and as unofrnt:
now rrGuircd the provision must be made general
Sd Nor will you accept bank notes oany denon1nai.
unless the same he "payaoe, OIL demand IN gold ora.
coin the place Eherc issued, and eqniVaen 10 s2e
n, the Mace where received, is substantially reQJ
bv the last mentioned act in respect 10 payments. IL,
rcquiremens can, in the opinion OF the Department.
enforced with greater certainty, and unnecessary
and loss more surely avoided, by conhnng the ncc
as has been the usage at former periods 10 tue
Of banks situated within your State, and in the ar.
inr States. Tho credit OF these notes can usai!y
| best known-coun,ereits of them more easily Grc-
and specie obtained for them with less delay vie:
| is wanted for public purposes.
I,h You will not take the notes OF any bank wh
since the Alb Of July 1896, has issued ''any note
of 4 less denomination than five dollars the notes
| all such banks being expressly excluded by the /,
section of the act OF the 23d June, lc36
Great care vii! be expected from you IN carrying
effect this and all former circulars still IN force
particularly is i, enjoinei that Receivers be Ylg.an;
| furnish every facility to the Registers or making
| monthly examinations, recently required, Of the 10
and vouchers hand, and Ia guard against Tie Dp
ton upon the land offices 0! bank notes not safe or
valent to specie, and not well known 20 b. rccrF-
according 10 The spirit OF these Instructions and 10,
nlfest intentions OF the acts Of Congress, which tit:
| designed 10 enforce. Respectfully,
LEVI WOODBURY.
Sccyetdry of ,hE Tyn.,.