Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-01-14
tofre> popdencc ~ he baltimore Patriot.
" AsmNoroN, Jan. 4, 1890.
REPLY OF MIR, TO THE SECRETH
RN or THE TREASURY.

IL VI iif' / hEASuk1.
Mr. Senator Rnra made speech. to aa,, which
dad honor 10 him hA y statesman. aud ~ m orator.
lis resolution 81 inquiry relative 10 the lei ms of
agreement entered into between the Secretary Of
Waf, and the Bank OF the United States Tor the sale
aud purchase Of bonds al that institution tof which
gave you tu oouce yesterday, WIS tahen un--
aud he stated hlofessons lor making ts new call for
information.
Among the curious 4 singular developments made
~ the oXlfAntdlhaiy document transmitted By the
Secretary OF The Treasury, N enswer 10 Mr. Btyrs'
ell for attenuation respecting the d4e retaops he
tween tie 6oycrnmeut aud the Banl nf tho United
States - the TACT that although the sfrretary 81 he
TcaSHy the legal and enthoflzcd financial officer
OF the government, was designated by law ne tho
agent Tor negotiating the sale nl The United Stntes
Bank bonds, yen thai negotiation WAS m reality
conducted aud eonsummated ty the Secretary Of
li'dr.
The lormalites Of The sale werc signed indeed Ly
the Head OF the Treasury bn The whole terms "a,
tho agreement were arranged bv the Secretary Of
War, apparently under The AUTHORITY Of the Ptesi-
dent himself. THIS is "A rcmmknbleg anomaly. The
hrst lord oil the Treasury Is shorrd from the stool
aud another person performs the ACT assigned pecu-
harly to hlm.
Tue very first dfaf madeby the Treasurer on the
Bank OF the United States, aliei The formal arrange
mcnl Tor the purchase Of The bond of 1887 was con
sumaied, called forth from Nh. BIpptf. an admoni-
non 10 Mr oopnuRY, that he departing from
the terms OF The purchase agreed upo6hy the Sec
relay Of War Mr. BIDpLn, in tins ettci dated
August IL, 1889, rectcs the details of that npree-
mcni, and points out the particular departure tho
Treasury Department had madn. II is evident that
Mr. Woodbury. knew nothing OF what had occurred
between tho Bank and the War Department. He
was mere ministerial cars paw--a financial puppet
10 carry out these arrangements without knowing
the exact footing which they stood.
Mr.. RWfs said he wished Toll information rcspec-
ling the terms of this agreement, and copies of any
clreuIals thai had been issued from the Pay Master
Generals Office any other branch Of the War De-
rarlnent, To &c officially before the Senate and
therefore, bad brought forward his resolution. Full
answer TO the enquiries II embraced we've necessary
complete this chapter Of the financial history OF
the country.
Mr.. RVS hcn referred to the report orthe Sec
Rotary IN 10 his resolutions and said he wish
ed 10 embrace this opportunity ofgivnq II thorough
review, especially Is It bad been vaunlingiy pro-
claimed as the thorough, and triumphant relutsiiop
of all he had alleged, and perfectly satisfactory
explanation OF the relations snbsistng between tho
Government aud the Bank. lie was about to pro-
ceed-whon.
Mr.. WHi0HT of New York, rose, and made q ques
ZION as to whether II was IN order TO discuss he re
port SIM 10 resolution OF enquiry. He added
thai he wished read the report belfe he listened
10 the Virginia Senators review. lie wished 10 have
time 10 examine and consider II and he boped il
would sun the purposes oi Mr.. RIvrs, to letihe res
oluton pass; and call up the report on another day
Mr. Riyrs replied with spirit, that since The point
tight 10 pursue the coulse he had Indicated u the
because he had been ,ebuked for having VIOLA
ted the rules few days ago lie commended that
lac was perfectly IN order. He had made new call
Tor Information, and he bad riaht 10 examine and
discus the report, showing clearly the epatv of
the transactions between the Government and the
bank, and furnishing therefore for addition
al enquiry Moreover, the review he proposed
was provoked by the shout Of iru npl raised here
without The slightest cause.
Nh. KING. Of Alabama, protested asainsf any init
nation going abroad of bis having desired to pre-
vent Mr.. RIyfs from being fully and fairly heard
although he certainly did think he WAS ranspassng on
the rules the other day now however, lie believed
Mr.. WRIGHT was 1rroag and that Mr.. RIyEs WAS
perfectly entitled To 90 Into ii consideration ii the re-
port, in supporting hs resolution.
Mr.. WEiGnT withdrew is question Of order Z
and declaring that lac was perfectly unprepared To
listen, discuss The matter ntelligenty, as he hid
not examined the report, left Ii with Mr. RIvEs TO
so o, not as lac lhou-ht CT. ;,
Mr.. RwEs reulied that the gentleman would find
il more difficult 10 answer him after he bad examn-
ed the documents than now when he totally ig7
norant. lie would give hun The largest day to
prepare reply--aye, even to the third of March
| Put IN consideration Of his uuprepared state, he
would yield 10 The wishes OF The Senate though
be warned Senators, that Tue public MAD was sws-
kened 10 the subje and would view with suspicion
and apprehension, any attempt 10 evade discussion.
Crles OF Z" Go on :" were heard on all sides and
the Virginia Senator bowing in acquescence 10 whaf
was mauilestly TIC g'nera desire proceeded
/ He referred 10 the terms OF the law am loFizing~
/ the bonds be sold for" money in hand7--that is,
iur cash. These terms were departed from by the See
retary OF War when lie told Mr.. BIpDLE" Ii YOU be-
come the purchaser, the amount will be depos cd in
your bank, 10 be drawn for as required, which will
not eXceed 100000, month"; These a,oafiiy IN
siaements of half million surely are not 10 be iook
cd upon as CASH PAYMET.
he Secretary Of The Treasury exhibited an rqrTa
oil he in far
readiness To- carry ont This arrangement. IL pyoot
of this Mr.. Rrvlsrt tened Is letter, which, sfiri M