Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-12-27


Ie!uFeo WIN annual opportunities in the mean time
70 AMER the law should experience prove 1t to be OPP
P'essve or nccnvenient The portions of the commu-
my on whose business the change would Immediately
operate, are comparatively SMALL it believed that
Us effect would be in the least unjust injurious to
them
IN the payment of duties which constitute by far the
crater portion OF the revenue, very large proportion
derived from foreign commission houses and agents
foreign manufacturers who sell the goods consigned
em, generally at auction, and after paying the du-
OF the avas, remit the rest abroad IN specie or
~ equivalent That the amount of duties should, III
' cases, be also retained in specie, can hardly be
Naue matter of complaint. Our own importing ner-
sIah by whom the residue of the duties is paid, are
'o"iv peculiarly interested in maintaining sound
'ehcy which the measure in question will especially
but are from the nature ofthcir dealings, best
sue 10 know when specie will be needed and to procure
: WIN the least difficulty sacrifice. Residing, too, al
as universally places where the revenue is recev
ana where the drafts used by the Government for its
disbursements must concentrate, they have every oppor
1hty TO obtain and use them in place specie, should
wy Tor their interest," convenience Of the number
ese drafts, and the facilities they may afford, as
wen as Of the rapdity with which the public funds are
d"h and dlsbursed, an idea may be formed from the
r that of nearly twenty millions of dollars paid to
collectors and receivers during the present year, the
average amount in their hands at any time has not
exceeded million and half and of the fifteen millions
received by the collector of New York alone during
we present year, the average amount held by hun, SUBJ
ect to draft during each week. has been less than half
million
The ease and safety of the operations of the Trea.
.sury IN keeping the public money, promoted by
The application of its drafts TO the public dues
The objection arising from having them too long out
standing, might be obviated and they yet made to af
lord to merchants and banks holding them equi-
Vaent for specie, and in that way greatly lessen the
smount actually required. Still less inconvenience
WIZ attend the requirement of specie in purchases of
public lands. Such purchases, except when made on
peculaton are in general, but single transactions,
Ieiy repeated by the person; and it is fact,
' Tor the last year and half during which the notes
~ sound banks have been received, than moety
ese payments has been voluntarily made in specie,
~'ns larger proportion than would have been rcqur
YIN three years under the graduation proposed.
II is moreover principle, than which is better
~eo BY experience that the supply of the precious
~e:a,s will always be found adequate to the uses for
sa'ch they are required They abound in countries
mere no other currency is allowed In States,
small notes excluded gold and silver supply
SF's place. When driven to their hiding places by
S- .A suspensions, little frmncss in the community
M restores them in sufficient quantity for ordinary
s.n poses Postage and other public dues have been
cted IN coin, without serious Inconvenience, even
where deprecated paper currency has existed
71nd tAis -Yith the.aid of TyeesgrY notes for