Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1840-12-29


I sat.eay aacaAe' lo Congress ct 'e-
h-th efe 1n, Supposed ere c1e'
~ the sngnles, uegtco a"y r.."..r.e- ...t-.- :
| in this measure.
Thus the ordinary clerks authorized are
numerous enough, yet principal one is need
| ed at New York city, with such compensation
as is usual at a place Of so large and import
ant business.
On full inquiry, it has been found also that
no site could probably be purchased for the
erection of an sffice at st. Louis, which would
be more suitable than lot now owned by the
United States; and it may be, under further
examination which is in progress, that no new
building could be erected on that site, which
would prove more economical and convenient,
than one which can be purchased already e.
rected A similar change in the appropriation
on that subject is therefore respectfully rec
commended.
A provision is needed likewise in case Of
vacancies, from any cause whatever, in the
officers or receivers general and treasurers. -
One has formerly been asked, in relation to
the collectors of the customs, in cases Of re-
movals and expiration Of the term of office,
to prevent an inteue gnum in the discharge of
the duts o.
This might properly be adopted as TO them,
and extended 10 the receivers general and the
Treasurer OF the United States, as we'll Is of
the Mint and its branches, in all instances
whatever OF the vacancy or temporary inabili
ty Of the principal. Perhaps the least objec-
tionable mode TO effect ihis object would be
to direct that the chief clerk of all these ON
GERS should in such cases, where no other le-
gal provision now exists, be authorized and
required to discharge those duties, at the risk
and under the responsibility Of the principal
and its securities, till the vacancy 10 filled, or
the disability removed.
In consequence of some defects in the phra-
seology az the penal parts Of the sct, new
clause extending them TO all discussing officers
Of every character under the General Govern
ment would be judcious also. 4 further po-
stion also, respecting the places Of deposite,
by disbursing officers, Of money not in the
Treasury, bs, drawn out and put into their
hands for making payments, appears neces-
sarv.
The keeping OF such money is now regula-
| ted by the act OF Sd March, 1909; and il it is
intended to bring it within the operation OF
the late law as TO money in the Treasury, il
seems prope, to do so by an explicit enac,
ment.
The section requiring discussing officers to
sell their drafts for specie alone, though GER
tain proportions Of paper are allowed to be
received for all public dues, appears not to be
in symmetry with those other provisions.
The general influence Of the present system
is believed 10 have been thus far salutary. The
true standard OF value has been rendered more
familiar, confidence has been increased in ito
stability, prices have gradually risen, business
improved, and exchanges altered greatly fol
the better.
II something has been or may be los, in con-
| fxph mil IL \ kv he IN,
creasing disuse Of paper currency for public
payments, much more will probably be gained
by the circumstances before enumerated, q,
well as by the greater security in the use o.
specie, the more stable value impaired by the
present system 10 property and labor, and the
strong check established by it, not only against
deialcaiions, but against bank expansions
excessive specula,ions and commercial fluc.
tuations.
! Even any inconvenience attending thi.
change IN the currency used, if found partcu
larry embarrassing, can be overcome hereafter
and the system still maintained, should Con
gress feel disposed to adopt the measure which
was suggested for that purpose by the under.
signed IN September, 1887.
Such measure would furnish every ad
vantage OF circulating medium, easy oftrans
ports,on. OF the highest possible credit, and
a. Wv oouic btiic fcdufc al ctuai dinouHt U
specie TO be employed, though in deposi,e, ans
without subjeciing any Of the 6scal affairs o
the government o,ihsi legal dependence or
corporations for their management, which i
so objectionable in many respects, as neve
TO have been attempted in the management o
any OF its other affairs, civil or military.
The topics of the condition OF the Banks O
. the Union, the state OF currency, the prope
places Of deposite for the public funds, an
other matters Immediately connected will
them, have engrossed a considerable porto
ofihe annual reports from this Department 70
several years.
, Bu, the keeping OF the money in the Treas
D ury. being now separated rom the banks, an
e The kind OF money TO be received and paid ou
s fixed by new legal provisions, it is not consid
: cred material at this time further TO discus
}. these matters, than to submit the general re
E marks which will be found at the close ofthi
: communication.
]. In closing this las, annual report Of the ur
= dersigned, 1t may he expected that he woul
n advert, for moment, 10 the general charac
= ter Of some Of our financial operations durin
j. the period Of his connection with the Treasr
n ~ Department.
9 Though employed in different Erecu,iy
II Offices nearly ten years, he has been oonnec
ed with the Treasury only from siI 10 seve
n Of them.
% During this Term there has occurred muc
'f' 10 s'ihcs the grea, nscsl power, as well q