The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1839-11-29


specie paying banks of the States TO be r.
iceiRed in revenue payments. II is the joil
resolution ofeighteen hundred and sixteeI
adopted by both Honrses of Congress, an
approved BY President Madison. That join
resolution is IN these words:
" That the Secretary Of the Treasury be
and be hereby is, required and directed t
adopt such measures as he may deem neces
sary, to cause, as soon as may be, all duties
taxes, debts, or sums Of money, accrnin.
or becoming payable to the United States
to be collected and paid in the legal cur
rency of the United States, or Treasury
notes, or notes Of tbe<Bank Of the United
States, as by law provided and declared, Oh
ia notes of banks which arc payable and
paid on demand. in the said legal currency
of the United States and from and
after the 20ih day of>Febrnary next, no
such duiies, taxes, debts, or sums Of money,
accruing or becoming payable to the United
States, as aforesaid, ought to be collected
or received, otherwise. than in the legal
currency of the United States, or Treasury
notes, or notes of the Bank of the United
States, or in notes Of banks which are paya
bic, and paid on demand, in the said legal
currency of the United States"
Commenting npOn this resolution, the Sc
nator from Missouri, in his speech of Decem-
Der last, declared
This is the law, continued Mr.. Benton.
and nothing can be palmer than the right Of
selection which it gives to the Secretary of
the Treasury"
" The words of the law are clear the
practice under it has been uniform and un-
interrupted from the date of its passage to
the present. For twenty years, and under
three Presidents, all the Secretaries Of the
Treasury have acted alike Each has made
selections, permitting the notes Of some spe
Gle paying banks to be received, and forbid
ding others"
Here this joint resolution is admitted by
the Senator from Missouri 10 be "the Lalr,''
and that the practice under il has been uni
form to receive the notes Of specie paving
banks II, then, to authorize the reception
Of the notes of specie paying banks, in pay
ment Of the public dues, be a violation of
the Constitution, it is obvious that the Con-
,titution never has had any existence, ex-
cept in the golden visions of the honorable
Senator from Missouri Sir, what more is
lone nv the bill reported from the Commit
ee on Public Lands, and now ordered TO be
by the Senate, than had been al
eadV accomplished BY the joint resolution
# eighteen hundred and sixteen This
ill, As thus engrossed, is as follows:
AN ACT designating and limiting the |
funds receivable for the revenues Of the |
United States.
" Be Il enacted by the Senate and House |
f Representatives. of tie United States of
lnsrica in Congress Assembled, That the |
secretary Of the Treasury be, and hereby is. !
eqnired to adopt such measures as he nav
cen necessary to effect collection of the /
ublic revenue of the United States. wbe-
ler arising from duties, taxes, debts, or
inns Of money payable for lands, shall be
objected or received, otherwise than in the
gal currency Of the United States, or in
o'es of banks which are payable and paid
n demand in the said legal currency of the
nited States, under the following resteic-
ons and conditions in regard to such notes,
} wit: from and after the passage of this {
It, the notes Of no bank which shall issue I
circulate bills or notes Of less denomi-
alton than Ave dollars, shall be received on 9
count OF the public dues and from and $
ter the thirtieth dav of December, eiph- c
en- hundred and thiTty-nine, the notes of
} bank which shall issue or circulate bills q
notes of a less denomination than ten I
ollars, shall be so receivable and from !
I'd after the thirtieth day of December, one {
ousand eight hundred and forty-oHe, the t
&c prohibition shall be extended to the u
ties Of all banks issuing bills or notes Of r
IS denomination than twenty dollars.
:" SIC. 2. And be Il further enacted, That :
} notes shall be received by the collectors
receivers of the public money, which the
INKS in which they are deposited shall not, !
lder the supervise n and control Of the Sc I
etary Of the Treasury, agree to pass TO the 8
edit Of the United States as cash PrO-l !
led, That. # any deposite bank shall re !"
Sc TO receive and pass TO the credit of the :
liied States. as cash, any notes receiVa- !,
: under the provisions of this act, which :.
ID bank. in the ordinary course Of bnsi- :
50, receives on general depOsite, the Sell 4
stary Of the Treasury is hereby authorized :
withdraw the pubic deposites from said !.
lk." S
Now the principal difference between the II
visions Of this bill and the joint resolu- r
u of 1918. consists in the exclusion BY 4,
bill of notes Of small denominations s
m revenue payments. Yet the Senator il
IN Missouri would leave the resolution OF 81
Is in full force, unrepealed, unmodifed, a.
/ vet objects io.the measure nov before n
The Senator from Missouri would nave s,
main in force. resolution Of Congress.
which the Secretary Of, the Treasury +
', at his discretion, receive for the pub =
dues bank notes, even Of one dollar, and 81 81
he objects to measure by which that 1.
erection is limited to the receipt Of notes =
higher denominations. BY the resolution, Il.
ii stands, the Secretary of the Treasury u
= collect the whole public revenue III s.