Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1839-12-12

them, and on which such important consc-
quences were to depond.-A diversity of c.
plnion existing as to the true construction of
the act OF 1887 in this respect, called ON the
Accomplishment for his opinion, which is
herewith communicated to the General AS
sembly. 1t will be seen, that that officer
stated, as the result of his reflections on the
subject, and of Il careful examination of the
law, that he was strongly inclined to the O.
pinion, that .'the law intended to. provide for
case IN which one or more banks had sus-
pended specie payments, while others contin-
ued 10 pay SPECIE" and that the duties reuuir-
ed of the Governor were TO be performed in
the case of partial and not general suspen-
sion of the Banks.
The suspension which has taken place, be-
ing almost n general one, including, it is UNI
derstood, all the Banks in the Commonwealth.
except those OF Wheeling and the branch of
the Bank OF Virginia at Portsmouth, there
could no longer be room for doubt as to the
proprlety of the Executive, refraining from a.
ny action on the occasion, if the opinion in
tlmated by the law officer of the State, be the
true construction of the act of 1897. The least
that could be said under the influence of so
respectable an authority, was, that it is at all
events, case Of doubtful construction; and
The public convenience in all such cases, be-
ing held sound rule of Interpretation, as
furnishing the most probable clue to the in
'entions OF the Legislature, could not but
give very great weight, in forming my own
Judgment on the subject, to the obvious and
distressing consequences TO the public at
lafge' which would result from prohibiting
the receipt of bank notes, forming as they do
the general and almost sole currency of the
country, at the present moment, and demand
ing specie alone in payment of the public
aues. The consequence must have been Ell
'iier, That that portion of the revenue which
remained to be collected, probably one half.
would not be collected ut all, or if its collec-
tlon were coerced by the stern process of the
law. and that too within so short an interval
before the period fixed for the entire payment
OF the revenue into the treasury, a runous
sacrifice OF property would have taken place
greater, In all probability, than has been wit
messed at any time since the Revolution. And,
10 what end would these specie collections
nave been wrung from the people, at the cost
ol SO great and distressing sacrifice of pro-
perry According to the opinion of the At
tcrney General, founded on the positive pro-
VISIONS OF the law OF 1929, regulating the
mode OF paying money into the treasury.
merely that they should pass into the vaults
OF non-specie-paying Banks, which would
nave gwen out paper, Only in return for the
Banks, 1t must be remembered, are no more
obliged TO pay specie on the demand of the
commonwealth and its creditors. than ON
those of private individuals.
All the distress of these specie exactions
men, would have been visited upon the PEG
Pie' without any countervailing ADVANTAGE to
the Government or the Commonwealth.
On turning to the other branch of the duty
imposed on the Governor by the act of 1887,
In the contingency therein described, to wit.
that OF removing the deposites of the public
| revenue from the banks, wherein they are
Pldced by law, to some specie-paying bank.
VI Uther place OF safety, other, and ifpossible,
sun more serious difficulties presented them
| serves, which gave great additional weight
TO the opinion, that the contingency describ-
ed III the act could not have been intended TO
refer to general suspension Of specie nav
ments by all the banks, or if it did. that the
| execution of the act, in the State of thinrs
W., which had arisen, was plainly impractcabie.
mere being no sPecie-paying bank in the
State, IL the public monies were removed from
,he banks In which they are now deposited
by law, they must have been removed to some
Place oil safety, other than bank. But tn
nave done that, III the existing state of the
law, would have produced a complete sus-
pension OF all the operations of the public
treasury consequence, which could not he
presumed to have been contemplated or in
tended by the Legislature As the law now
stands, regulating the receipts and payments
Oh the public monies, no money can be receiv.
ed into the Treasury, but on certificates Of
Payment first made into bank, given by the
oliicers OF the banks, which are constituted by
law, the repositories of the public revenue
nor can any money be paid out of the Treas
ivy puI by checks drawn on those banks
| ne act OF 1887, while it authorizes and re-
quires the Governor, in a certain contingencv
toremove the public monies from those hanks
neither repeats the general provisions Of the
law ABOVE referred to, nor provides any new
ihoue by which money may be received into
or paid out of the Treasury.
| The whole of our existing LEGISLATION IN
'nat SUBJECT, is comprehended i'm the act pass-
ca 'ie 10th day of February, 1929, "prescrib-
ing lhe mode ofPaying the public monies in
10 ana out OF the Treasury BY the first
Secuion oil that act it is provided, that sail mo-
mes due and payable to the Commonwealth.
&C., snail be paid into the Bank of VIRGINIA
OF armers' Bank of Virginia in the manner
ne, prescribed, and not oMey,y;se -
49,, ne manner is then prescribed as follows {:
Inc person ''iable to pay is first, to obtain a
warrant from the Auditor of Public Accounts
OF tle second Auditor, directing the Treasu-
rer 70 receive the money. The Treasurer is
men 70 make an order upon the warrant, di-
IecuDg the proper officer of one of the Banks
70 70 receive the same. The certificate of the
banH otfiIcer, that the money isl paid is BROUGHT
70 tne treasurer, who then gives recent
LOT ,he money. This receipt is carried to the
AUDITOR and he gives discharge.-The So.
col.u section enacts, that if any person shall
pay any public money whatsoever 10 the
| treasurer, otherwise fhan nnnn-I;.-- ~ =,