Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-01-29


Agent at Lexington. Ky. 81 GEO 90 u 236 rs
Agent at Little Rock, Ark. 300 600 or ]9l 900 %
Agent at Cincinnati, Ohio, 100000 o. 81, G4a7 90
------l -
537 $50 81 2597o4 "a
|, will he from this statement that Of the Of
81 5l2 lJ2 (the aggregate amount Of the Two bonds
whose prOce eds drpusiled the Bank OF the IT,
5 } as much 50 j}7 $50 be paid by the Bank
ut dStani places, at of hCh from the be-
fore mirmi"n'd, The local currency extremely de
prrciatei hcVw the par standard. At Mobile, tor
ampe, We learn from The letter OF Thomas Easnn. navy
agent al Pensacola, which mong the documents ac.
c"mpaHyIrg the report ~ The SECRETARY I'll the Treasury
that The 9Th September last The local currency OF that
place Was twelve Or fifteen per cent below specie
lue' To hat extent the Bank may have succeeded in
paving oil the pubic creditors Who furnished with
checks upon lis agrnc the local currency Of these
various places have Of 0scrrianlng; but,
that 1t has done so III many instances there can be 10
doubt To Whatever extent has been done, the ope.
ration must have been u gauful 10 the Bank
and considering the erce amount OF paymen which
were /" be made within the region VI deprecated local
currency shown by ie preceding table, lis aggregate
pr.'s FROM that source have in all probability formed
small addition the benefits derived from lie Of
the large sums # public money which, we haze al
ready seen, have been continued, through series Of
months, on dr0site in the Bank
Another object OF the rcsriulinns If inquiry sub
msd by me-, was. 10 ascertain the nature Of the
rungeIrns which had been entered into ia regard to
the disbursements OF thu Government in the notes 0 The
Bank. We had that The President Of The Bank,
in public 2lIcr addressed n disIing ushed member
Of Congress, (Alr john @ Adams.) had sa'ed that
engagements made with The Executive officers for
the distant public disbursements in The notes Of The
Bank One OF the resolutions. therefore, which bad
The honor 10 propose. and which adopted by The
Senate, called The Secretary OF The Treasury To-
municatP in general, The nature Of the arrangements,
if any made Jhr the dtstGHi Pubie disbursements
IN tie mites Of The Bank, together with all the
pordruce agIeememrs and Instructions given or rnter-
~ n tho h.oH cof
above stated This resolution was intended 10 elicit
-four the Secretary u" the Treasury communication Of
the arrangements made, instructions given, in reia
To the sub of ii. by any Department # The
GOrcInMCRt, ia, they should Lr known to him
But the SECRETARY rludcs th inquiry, by answering TIM,
arrang, nis have been formed any lnslInc-
tiuus given by ms DEPARTMENT., Of The kind indicate
~ the RESOLUTION; ana IN protesting To rece literally The
resolution hlCh had b, adopted by The StTac, he
irrp"aeS passage not found III The resolution Itself 10y
adding after the words "nslruclrnns gwen enter
into, the restrictive phrase, "6y The Department.,
(mcaniTg OF course, The Treasury Departmrnt) as
Ia av"d the necessity al saving thing OF The nstruc
tons given by the War Department, which The
real office Of ia" inquiry. Bu,. fortunately, the InioT
nation sought Is supplied by the public journals IN
FORM III" authenticity Of which will not be- questioned
The following circular of Gcu.rGl TJwsnn The Pay
General OF the Army ISSUED, doubtless, 10y The
authority Of the Secretary oil War; meets fully the "5
jrct OF my hqnry and lis Authenticity Inns been eXpl
cuy rrccgnz. d. It tie document Itself has been
pubilsh,d by lhr official organ Of the Government in
this CITY. iiete IL is
tc:GCrLAR.I
PA,MAsrEH GL>ERALs OFFICE,
UGShingiOn, October 3 lc:S3
Sir-ArraDGCncnls having been made with the | nj.
tea Sales Bank. pay the Ieasurers drafts a
tam amount DIFF, places, and it being probable The
OF that Bank all be acceptable to The claimants,
aud in some, convenient than specie you wall,
should you receive drafts that Bank lis agents,
uake many Of your payments in checks ms you can,
which viii give the receiver the "PiOn Of taking pnrer"r
sv,cC; and The Department has objection 10 your
using paper of thu, Bank all your pay mrn,s,
far as can be- done legally.
Respectfully your most obi snIv't,
N TDWSON p. " q.
To Di<bu,siag officer &c.
This circular rs, without Guubi. the result OF the
rangrmrrls spoken OF by the President of The Bank,
having been made with the Executive officers for The
more distant public disbursement the notes u! tie
Bank 1t rot nu!y authorizes payne At 10 be mad, hy
the discussing officers of the Government in the paper
Of the Bank winch had been 50 often and vehem iiiy
GenuIac"d by w. leading friends" the Administration
on tbs ilunr rUc and r0rihicSS traSh but il
an argumenIave recomr,r ndaton Of il, and in s"Gle
sur, invests II With the character of privileged Go
veru;irt currency. But This is not all that remark
able in this circular II directs the dIsbursipg officers
should they receive drafts on that Bank lis agents.
10 make many of their payments ip theckS, as they
can which will give Tie receiver The option OF taking
ua,rr or specie " hfrtinre this direction? Is it nn
obviously assist the Bank not so much To pay the pub
lie creditor in lis notes as in the local curencss q"
inferior value. Where chtck Is gwen on oahE "r
individual, pnynient l. naturally offered and most IRE
ournuly accepted the and ordinary currency
OF The place The negotiation between the Bank and
the Secretary Of the Treasury in pr last respecting
an arciparin Of the bond which would fall due the
3Olh Sepiel bpr following, sheds much light this SUBJ
i.ct Mr. Manchester. agent of The Bank, then pr"prs
ed 10 dvaucc the amount of the bond 'upOn checks II
disbu,sinp otccrs Mr. Woodbury. replied, that mode
was not usual with The Treasury Department, and that
he could accept payment Of the bond only SpeciC
lis Whp(pnpUu Manchester
Bank could have TO desire such an arrange
meni, and that in promising 10 furnish money ""Pon
eksehs of disLursing cccTs his idea TO pay with
'such funds tic public creditors 'coud radHy &c.
esire Mr.. Woodbury. persisted in his refusal, saying
that such an arrangement Mr. Manchester proposed,
you'd be- open The implication thai the Drparlmen ut
wished promote the receipt and payment OF irredeeH
able pa per the public durs But wha, the cautious
Mr. w declined the bold hr Ponsett has no hesitation
in sanctioning. Secretary Of Warde jure, and Sece'n
~ Of the Treasury de }aco he unite the sword and HE
purse and sweeps every obstacle from his path.
Now, MIR. President, it would be a curious and rot
undressing problem 10 calculate the gains which the
Bank has been enabled 10 make by these various
engagements with the G"Vernment-by The use ct the
large sums of public money left deposits with llby
the opportunity Of paying of The public creditors III
many instances, in the local curences OF degraded va
neard by the Of extending and keeping oui its
circulation through the medium ct The public dISpurse-
mrnfs il: distant quarters Of The Union am no IMAM
cfr and will. therefore. attempt such cn!culatI'n-
Blu, those who are Skpd IN such matters, pronounce,
with confidence that the Bank could not nave rea'zru
less ,hnn quarter OF million Of dollars by lhese ope-
raricns and may have realized as much as nan 'Ii"h
Mr. RIyEs said he had hitherto conhned himself 10
,b het ween the Govrinmen and the Bank,
in regard 10 the sale payment 81 lis oonds Gentle.
mon who could not shit their eyes 10 The TACT Of
ex;snp connection ehad said, that That connection hod
49, 90, nf the sale of of the bonds of the Bank
r., or, authorized and directed by law)-of which
the Bank itself had become The purchaser, and that,