Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1839-01-10

WueIc uepoSlteu, now applied, tnere IL
the like mysterious reserve and ambigu.
ity. There is nothing in the report Of
the Secretary even 10 assist conjecture on
this point. but small document subioin-
ed TO his report, which he calls ia list oil
banks in which special dcposiics have
been made to the credit of the Treasu-
rer Of the United States, derived cnly
from debts due from banks, aud the a
mount in each subject to draft on the Isl
OF December 1888" This list compre-
hends but two banks-''the Bank ofthe
United States of Pennsylvania. in Which
the amount is LIES, ass" Zone million
seven hundred and thirty eight thousand
four hundred and eighty >eight dollars, J
and the Bank of Virginia, Richmond
with The pitlance of $50. l46," (thiriy
two thousand one hundred aud forty six
dollars.) Now, whether these depos-
ties in the Bank OF the United States
are the proceeds of the sale of It's bond
or OF whatever other funds they may
consist, we are left wholly in the dark
We are told. with vague generality
that they "are derived from debts due
from banks" but from what banks, from
the Bank of the United States itself, or
from some other banks, or part from
some and part from another, we are left
without any means to solve the enigma.
From this singular and ambiguous phra-
seology, it would seem as if tie Secrc.
tary were DESTROYS to cover up, by the
obscurity Of his language, all traces Of
his negotiations with the monster ban.k
as the honorable Senator from Pennsyl.
vania (Mr. BucHANAN) graphically de.
scribes it.
But, in the midst OF the darkness in
which the Secretary's report had envel-
oped the subject, broad and strong
light breaks in upon us, all at once, from
another quarter ofthe horizon. Within
the last two days we have all account of
these negotiations and arrangements from
the other high contracting party-the
President of the Bank himself. He
shows nothing of the coy reserve and
diplomatic vagueness of the Secretary ;
apparently conscious that, if there had
been any loss of dignity, or of advans
tage, o! of consistency, in the negotia-
lions with his ancient adversary, il was,
at least, not on his side; every thing in
his statement is direct, explicit, posi-,
tive. and uneqaivocal. He announces
TO the country, through his letter to MIR.
ADAMS, that his differences with his old
antagonist are settled; that he "has ne
longer controversies with the Govern
ment of the Union;" that arrangements
had been made" (he courteously adds
as honorable to the Executive officers
as beneficial to TIE public service, ~
(which had brought the Government
into efficient cooperation with the bank
for the establishment of the curren-
cy;" yes. sir. had brought {mark the
phrase) the Government into efficient
cooperation with the bank; that ain the
month of July the Government bad a.
greed TO receive an anticipated pay ment
of the bonds OF the bank, to the amount
OF between four and FIVE millions Of dol
lara an a credit to the Treasurer on the
BOOKS Of The 6ank;;" add also that Gar
engagements were made for the more dis
iant public disbursements in the notes of
the bank" Under these circumstances
the bank is willing to disarm; il pro-
claims cessation OF hostiiities; sit alb
dicates its involuntary power" and "de-
sires only repose." 1t may well indeed
retire from the field Of controversy, IN.
der such circumstances, to ''repose" or
the laurels of its victory.
Now, Mr.. President, this letter is the
first official information we have had OF
who the purchaser OF the banks bonds
was. II shows, as bad been generally
believed before, that they were sold to
the bank iiself--a fact which from some
cause or other, the Secretary seemed
sedulously TO withhold 1t shows also,
ill what manner the bank was TO paw
the purchase money ofth bonds, which
the law required should be sold for
money in hand" The Government,
says Hlr. Biddle, agreed 10 receive pay
ment "in credit 10 the Treasurer on
The books Of The bank" But the Secre-
tary OF the Treasury, speaking of the
Government funds in the bank describes
them las we have already seem as spe-
cial deposifes. Presenting that the pub
/ lie funds in the bank are. for the mos
( part at least. the proceeds of The sale O
its bonds, it " i'll be Tor the Secretary tc
show what sort OF special depOSitC
can be made Of naked credi on III.
books Of a bank. This it seems to me
would be a sort of IusuS nafurc in bank
ing accounts. The president of tn,
bank also says that tue Government hat
agreed to receive an anticipated pay
ment of lis bonds 10 the amount of be
tween four and FIVE millions OF dollars