Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-02-16

n
Engineer, which hears da'e VI" - i
the following words: :, a., d; o.;s,;p,
between the Department ana ,he depository "",
be made nv checks The banks tender u! the notes
of The hank on which the Treasury draft vas drawn WI"
be made and that in no case specie be exclusively "a
acted Unless the notes of SAID bank will not be received
by the public creditor.
The obsev vance of this rule will be OF genera coin
mediation, and be sustained by the Department.
This is Of the 'orders to which the SecfP'a'f
expressly applies The remark in his report, ano't u"
that they "n some respects exceed what was intr"reu
IL will be proper here add that under dac OF ~"
October, 1885, the head of the Indian bureau 'sSIeu
circular IN the precise language o' ths o"e' ", L ~
the present hends Of both these bureaus WIZ" w.
isence of these directions from theft respective o'ahcs
Of the De pe were made known Ia heIn Instantly
modified them as bring them "ith'n thr "',o
ungestioned terms Of the existing laws III 'e'e'o "
The disbursement OF bank notes co.,
circular from the office OF THE Iayhnas"I VIZ ".
was issued under date Of The slh OCTOBER 1885, when
is as follows: =, a., ~
Sir: Arrangements having been made WIN ''t u
States Bank 10 pay the Treasurer ufa''S 10 I,'"
amoun, n, different places and II being probable Inc
notes of that Bank will be acceptable TO claimants
and in some cases more convenient than specie, you VII"
should you receive drafts on that BANK or lis ose"'s
make many of your payments oy cneIN d" w ."
which will give the receiver The opuoh Oh t1""e PnPe'
or specie: and The DrparmeG: has no ohecon IN your
using the paper of tina, Bank in oil your payments, SO
far as il can be done legally ,
The only other OF these " orders and directions, 10
which nronose 10 refer was issued from the office OF
the General aud bears date 3lsl October,
1888 Its language IS,
Whenever rem,ances the public account are
made Ia vou b. the Treasurer of the United States IN
notes of The United States Bank of Penusy or by
drafts Of that institution local banks or agents. IL Is
desirable that instead ofdemandng specie from Inc To-
cal banks agents. you receive IRON them anu
the bills of said Bank OF the United States in all cases
when
dyiduals TO whom pa ment may be MADE
The Quarlermaster- Geneel states that ms circular
was but eight officers ot that Department, ana
that understanding construction had been gwen 10 IL,
10 authorize the mt out Of notes OF less denomna
tons than those allowed by the law of the l4h OF April,
1896 those officers were Immediately instructed that the
direction to be construed IN conformity win mat
law, and not otherwise.
The number of orders and directions transmitted with
the Message of the President IS very great; but upon
careful perusa of them ALL consider those referred to
above the only which have material reference to
the disbursements to be made under the arrangements
with the Bank and all which go step to show that the
bills of the Bank agreed 10 be dsbursed as part
uf these arrangements And now, MIR President permit
Inc ask how far any Of these orders authorize the
seron of the President OF that institution that arrange.
mens were made for The distant public dsburse
nens in the notes of the Bank" We have seen that
the arrangements between the Secretary Of the Treasury
and the Bank, in fact, were that the payments should
We made sin specie lis tguraicn and far as the
collateral stipulation with the Secretary Of War may be
considered part Of those arrangements, that The
medium of payment was required and agreed to be made
by that also. In these negotiations them there
arrangements made Tor The most distant public dsburse
menls in the notes Of the Bank, or for any dsburse
ments distant in those notes any further than
hey might be considered embraced n the terms egrirn
ent to Specie; and how far that might be, would, OF
course in all cases depend upon The will and choice and
estimation Of the public creditor to whom payment vas
TO b. made II will certainly not be pretended that
iers from the head of Department. a bureau, con-
aiming simply directions for the government Of the
ubordnates of that branch of the service, change
ile Of these contracts, give 10 either party
tights which not conferred by the contracts them
selves II arrangements were made" between the
executive officers and the Bank "for the more dis.
ant public disbursements in the notes of the Bank,
ihe night was conferred upon tie latter make
hose disbursements in such NOTES, independent Of
my relations, or rights, between the Government
and its creditors, aud tender Of the notes would
.,e good payment between the Government and
the Bank. Is such right pretended claimed by the
bank, growing out of The arrangements for the sale and
raymen nj of It's bonds: Ii has not been and il not On
he contrary, il no such ""rrangcments made, or
light conferred, by The contracts then nothing in The
orders and directions from the heads Of Departments
md bureaus 10 The Clsburslng officers could make the
one or confer the other. In this aspect Of the case
therefore, The President of the Bank authorized
by The facts TO ray that arrangements made ior
The more distant public disbursements in the notes Of
The Bank
While upon this part of the case another inquiry
should he made Dad these 'oTdeIs and directions. as
confer upon The bank the right 10 make dIsbuse
menls in It's noes here most freely express my dis
sent from the policy and practice indicated by OF
these circulars he Secretary tells that of Them
n some respects exceed wha, intended" by him
and think some OF them 90 beyond n sound and safe
rule | cordially concur IN the views and policy upon
which the Secretary acted expressed by HIMSELF but
think of the circulars go much farther, and, in
stead of adoptng policy which calculated 10 hasten
The resumption of specie payments in the South and
West and restore the currency to sound state IN those
sections of the Un"n, must IT continued in force and
acted upon. have had strong tendency in the opposite
direction Did they, however assume 10 confer The rieh
to make public disbursement in bank notes: Not
even the br"ades Of them. They urged the policy OF max
ing Disbursements in that dunn lar as II can he lg"t
IN dome; sin all where such bills moy be cR CiI
satisfactory the individuals to whom paymen, may he
made "unlcss the notes e said Bark ,ciN not te re-
ccirsd by the public CREDITOR &c. Thus, in all cases
deerrng the option Of the public creditor, and 10 h
LEGAL rights the question Of making disbursements IL
rank paper The orders. therefore. did moi assume Il
nier the right To make public disbursements in the
notes If the Bank, aud even they, broad and ndeen
;hIo - :ome If them seem 10 me TO be- do not bear ~
n. Psi. ent o the Bauk in the declaration referred TO
W., ,hi -; iIvdua g"rs on TO say, "th,%p arrangements
- tn,e to the Executive officers as they were be ne
c;I -, ,nn ,'ubic service, brought Ihr Guvernmentnl
fc,en, grafton tor the establishment of the
enry and ned the way for the resumption Of specie
,avnsnis What arrangements are here reiertcc
5 Eviden,lv huse spoken Of in the previous senenc,
C tbs letter t.tnr the disan, public disbursement
in tho no,es of The Bank" Having shown that suci
:. .r,,nr.men,s had been made between the Exccu
tive Officers" and The Bank, may he permitted hopr
,ba, ,bos. worthy Ulcers will be made suffer IL
The nnblic estimation, under the bIighng influence of The
conpli,neut SO gra,uS' ously bestowed upon them.
Here, Mr. Presdef', suffer me TO ask, why do yot
think this letter of Mr., Bdde given The public
Was ii, do you believe NJ oes'ow credit upon the Ike
cuve officers of tins "cSnment or 10 manifest his con
nec,iop with and at ~ TO this Administration: |
This was the mott "a able and sagaciou
friends upon nv -'Se al his want O
sagaci,y They 'he cause o
thi, Admnistra, "a fall
ing house, and
cuus banker 8
and those of .r
these gentleme, nd
objects have given '". en-
10 speak of The negntiain,.- ao
tcefs and The Bank, and TO do :. par