Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1838-06-23
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TRrAsuRr DsraErzrNT, juno !. 1888.
To Fraaeis Lsssk. Esg. Rsesirs Of PHbh'
.Hossgs 81 ColHnbHs, Nj

rress has declared +" hAt u snait hoi % ldNiu'
lor he Secretary Of the Treasury 10 make or TO
couiiuae IN foFce, any general order. which shall
ereate any difference between the different
branches Of revenue, as 10 the money or medium
of payment 10 which debts o. dues, aeeruing TO
the United States, may be paid"
To carry this resolution into effect It has be.
come necessary to issue new instructions 10 Col
lectors and Receivers Of Public money.
By the present laws specie and Treasury notes
alone are expressly made receivable for all
kinds Of Public dues, and you will Of course
continue 10 take them oil otherwise instructed.
A Circular was issued under the direction Of
tho President Of tho United States on the llth
Of July, 1896, which, after a certain period, pre-
hibited any currency from being taken in pay
ment Of Public lands except specie--no author
i,y for the issue Of Treasury notes being then
IN existence.
This Circular did mol order any different me-
dium TO be taken Tor duties--yet. the various
reasons contained in II were not applicable TO
the revenue from customs, and practice had
existed before. and has continued since, TO re-
ceiye bank notes Of certain character IN pay
mcns of dulles.
Ia this condition Of things, and without any
new legislation either to extend the provisions Of
that circular 10 every branch Of the revenue, or
to abolish The practice Of taking bank notes for
any branch Of il, Cogress directed by the rcso-
luton above quoted that no difference, OF dis
elimination, shall DO created or continued IN force
by any general order emanatiHg from this De-
partment. Il has thus been made the Impera-
tive duty Of Tho Secretary OF the Treasury TO
either require the collection Of tho whole reve.
nue. IN all its branches, in gold. or silver, or Trca
sury notes, or to permit, under such restrictions
as Tho existing laws impose, and as tho safety
oil tho public money may seem 10 require, the
acceptance Of bank noics, ior lands sold as we'll
as for other public dues.
However desirable il may be on some accounts,
that the receipts and payments Of tho General
Government shall be 10 tho currency provided in
the Constitution, and however inexpodicnt il may
be 10 give undue encouragement TO different
currency, which by It's fluctuations IN quantity
and value oilen renders the wages Of labor I'm.
certain; gives instability 10 the value Of properly;
and thus enables tho artful 10 accumulate wealth
NJ the expense Of the unwary, il il not believed,
that this Department can find sufficient war.
rant IN the proceedings Of Congress. or in public
opinion 10 justify tho sudden and total exclusion |
u this time OF tho notes Of specie paying hunks |
from reception for public dues Of every descrip-
ton.
Important changes have also taken place since
July, 1886, in the condition Of the banks and Of |
business generally. which have diminished the
necessity for unusual checks on excosscs and
oycracti0ns.
Influenced by these considerations and BY
desire 70 accommodate the public debtors as far
40 IS compatible with the restrictions of law and
tho safety OF tho pccuniary interests committed
10 my care feel bound to enforce the uniform
ny now required, by uvaiIing myself Of tho per.
mission given In the resolution Of 1916, to q.
ceiye The notes Of banks, and by extending, I'M.
der suitable limitations the receipt Of such notes
equally 10 all branches Of tho public revenue.
Tho limitations as TO the character Of the
notes receivable, will BIO such as are required BY \
express laws, or by necessary implication. Some
OF these limitations have always. except al one
brief interval, been adopted in practice since the
formation Of the Constitution, and are deemed
essential to maintain sound currency SO inds.
pensablc 10 the prosperity OF trade and healthy
state OF public morals. Others have been INTRO
duccd more recently TO promote fiscal conyspi. {
cncc. the pubic security, and an equal standard
Of value.
LIST. You will, in conformity 10 the obvious
.aicni Of tho resolution Of 1916, take such Bank
notes only as arc "payablc, and paid on demand,
ia the legal currency Of the United States"
I'd. You will receive mono Of less demon.
nation than twenty dollars; the reception Of all
smaller denominations being virtually prohibited
by the second section Of the act Of April l4,h,
1886, which Iorhds their being paid on, 10 any
creditor Of tho United States. Though smaller
notes offered for duties could, from the nearness
OF Banks IN most scaports, be taken, and easily |
exchanged before making payments; yet, from
the romotencss OF many Land Offices from |
banks, this could not be effected there without |
much delay aud expense and, as uniformity IS
now required, the provision must be made gen.
clal.
ID. Nor will you accept bank notes Of any
denomination, unless the same be "payablc, on
demand, IN gold OF silver coin, al The place whers
issaed," and equivalent TO specie al the place
whe:e received, as is substantially required by
tho last mentioned act in respect 10 payments
These requirements can. IN the opinion Of the
Department, be enforced with greater certainty,
and Unnecessary risk and loss more surely avoid
cd, by combining tho receipt. as has been the
usage at some iormel periods, 10 The notes Of
banks situated within your State, and the adioin.
ing States. The credit Of these notes can usual.
" be best known--counterleit of them more
easily dctectcd-and specie obtained FOR them
with less delay when il IS wanted for public pur.
poses.
4ih. You will not take the notes Of any bank
which, since the 4th Of July, 1896, has issued
"any note or bull Of less denomination than
five dolas !" the notes Of all such banks being
expressly excluded by tho eighth section Of the
act Of the 23d Junes 1886.
Great care will be expected from you in car.
ryns INFO effect this, and all former Circulars
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