The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-01-12
S32.I26.O5s

them, had at that date been drawn foT ana the pa
lances owing by the remaining eight, laboui hall a
million as appears by report made the 29th March,)
were considered "available for the public service,
and subject TO draft"
The following banks have availed themselves Of
the act of the 18th of October last "by giving bond
with the requisite security"
Commercial Bank, Buffalo, NY. SA,810
Agricultural Bank, NatcheZ, Miss 1856
Union Bank, Nashville, Tenn s7,5l9
Bank Of Kentucky, Louisville, KY. 529,e2O
Bank cf W. oster Wooster Ohio, 1895
Bank of Michigan, Detroit, Mich. 409O39
The following have claimed the benefit Of the act
of the l2th of October, and bonds have been sent
to them which are, ii is supposed in the process Of
execution"
Branch Bank Of Alabama, Mobile, Ala. sss3,s7o
Planters Bank NatcheZ, Miss 1863 400
Planters Bank Nashville, Ten. l0, 3H
Franklin Bank Cincinnati, 0. 1876, 1924
State Bank of Indiana, Indiana, 377 1852
Farmers'& Mech. Bank, Detroit, Mich. 243,93O
The following banks have been sued:
Commonwealth Bank, Boston, $39,636
Franklin Bank, do. 1880
In the same report the Secretary states that,
eral of the banks still SHIELD balances at the credit
of dsbursing officers" which icere IN The course of
being paid out from time TO time as needed"
This is the history Of the much abused deposte
banks OF thirty-two millions which they held al
the period Of suspension about twenty-seven mil
lions have already been paid BY them; about four
and half millions, already and in the progress of
being amply secured under the act OF Congress and
only about fifty thousand dollars placed in suit. OF
this sum, Sl6,SOO is in bank selected in 1886, I'M
der circumstances lately elected in the invesga-
lions at Boston, OF not very reputable character,
and the entire balance due from the other appears to
have been placed there since the LIST of October last
as at that date the Secretary reported the bank to be
overdrawn TO the amount of 81 600; therefore, ifany
thing shall be ultimately lost by either OF these
banks common justice could hardly attribute II TO
defect in the system.
Thus, il is shown, by the Secretary of the Trea-
surys own report that after all the outcry which has
been made the abuse lavished, and the charge from
a high quarter of base peTfdu and tyedchery 10 the
Government not dollar will be lost by the banks,
unless by the last mentioned!
We wish the people to be made acquainted with
these facts The cause of truth and justice de
mands 1t. . -
of part of the proposed subreasury we com
mence with,
daiia-On the Odd June, 1884, the Secretary Of the
Treasury wrote telling him the regulations required
that "each deposite should embrace the whole
amount in the possession of the receivers" That
according to his returns, there was in his hands on
the 3ls March last, the sum Of $lo,643 40; on the
Both April, the sum Of sl2 453 80; on the 3lst Of
May the sum of ssl35o5 TO- yet it appears that its
transfer TO the bank of deposte was deferred until
the 3ls May and ha. ss sum Hs se ee9 so
cludes "the deposite of the public money is ndis-
pensable" Again, on the Goth of October the Sec
rotary wrote, "the public moneys, have been per-
miited to accumulate in your hands, IN riotanon 81
ap and the instructions Of the department. since the
3lst of May last, and that 1t amounted on the SOth
ullimo to the sum Of $lO,976 80; lam constrained
by your continued neglect to call your umeaiae at
tention to the subject, and again 10 require That the
whole of the public moneys in your possession De
denosi,ed forthwith In default of which, prior TO
Ist day Of December the Secretary said he should
submit the case for the action Of the Executive.
and recommend the appointment OF another per-
SON."
Again, on the 4h of December, 1884, the Secretary
inquired, why it was, that your letter OF the 10th
ultimo is entirely silent as TO your neglect 70 comply
with my positive directions contained In letter
from the Department OF the 23d June last, ana lhal
YOU still neglect 10 pay over the public moneys IN
YOUR hands, and TO furnish the statement, &C.
WE should have supposed that, BY this time, there
would have been an entire Withdrawn OF conn-
dence but what followed, shows that me innuenSe
of powerful friends can prevent meIne e. pa n,.n,
ment, and obtain in place, compmen. iel mcgee.
of duty. On the 18th February, 1885 me secretary
wrote and informed him that, notwithstanding ms
past neglect in cases TO deposite .ne PUBL o-
neys, as required by law, " nae plesSs.u ~.
sident TO renomnate you for The office Of receiver al
Vand,Iia and that your nomination has been con-
6rmedn He then added, once, LOT al, then.
would inform you, that strict observance OF me
for The peTiOulSdiu ePos''S W 49, PSSaa
menev and the transmission OF your accounts and
retnrns are paramount duties, the neglect Of which
will he repored for the action of the Executive" On
the 25h July 1885, the Secretary demanded to know
&c uby The entire amount Of money on hand, al Tue
time The last depose was made, was not included in
IL the balance appearing by your account not depo
SIZED amounts 10 $l5,l29 o." Again. on the Sd of
November, 1887, the Secretary wrote, observing
large sums of money received by you in payment Of
public lands still remain in your hands, ne wishea
10 "know why the same are not placed to the ciean
of the Treasurer, in the State Bank Of missouri -.
Louis" Again, on the 9Th day OF DeeemDer, me
Secretary charged him with neglect ana inIoImea
him that If by the "return mail evidence IS MOI re.
ceyed OF your having complied with my require.
ments of the 10th August and 50 November ias,
will be nv unpleasant duty to report your neglect 10
the President, and TO recommend your removal from
Office" -,
we now come 10 the finale Of the case. ON the
9th January 1888 the Secretary wrote as foliows;
Your letter Of the nh inst is received, and your
resignation accepted by the President. Iregrd nat
60 Ldrqe balance stands anodjusted IN your hands"
&c What that large balance amounts to we have
no means Of telling the report Of defaulters made
by the Secretary, TO the House Of Representatives
was dated the l7th January, and, therefore Mr. Linn
is an additional defalcation.