The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-12-15


opinion on these points and for covering the con-
tingency, may consider the adoption of some per
maDent change in the tariff as preferable, and as
not too early at the present session, to give full
notice OF its character, before going into opera
ten, in order that different interests most affected
by it shall have time to become gradually adJus-
ted TO its provisions.
In that event, it might be supposed that the
undersigned had avoided due responsibility, and
a timely discharge of duty, if he were not pre-
pared to offer some views concerning the details,
as well as general principles, which he deems
| applicable to such change. He has therefore
examined the subject, and is ready TO present
the result at any moment either House of Con-
gress shall express wish to that effect. But
he refrains from submitting them without spe
cial request, because some doubt exists, under
circumstances which can be properly apprecia
ted, as to the delicacy of his discussing msa-
sure at this time, which the Legislature may
not consider it necessary to act on till a new
! Congress assemblies
VIII The mode of keeping the public money
recently established by Congress, has thus far
answered the expectations OF this Department.
The numerous labors, perplexities, and de-
lays OF putting new system into operation,
| have been mostly overcome, and no losses what
| ever are known to have occurred under it.
Some of the provisions in the law are deemed
Objectionable in their details, and are respect
! fully recommended to Congress for revision
But they not supposed to affect in the slight
est degree any principle involved in the measure.
Thus, the ordinary clerks authorised are nu-
merous enough, yet principal one is needed at
| New York city, with such compensation as is
usual at place Of so large and important busI-
! ness.
| On full inquiry, it has been found also that
no site could probably be purchased for the cree
ton of an Office at st. Louis, which would be
mole suitable than lot now owned by the U. |
| States; and it may be, under further examIna-
| ton 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 erected. A suitable |
change in the appropriation on that subject is
therefore respectfully recommended.
| provision is needed likewise in case of va
cancies, from any cause whatever, in the offices
of receivers general and treasurers. One has
formerly been asked in relation to collectors of
customs, in case OF removals and expirations of
the terms OF office, to prevent an interregnum in
the discharge of the duties This might proper
ly be adopted as TO them, and extended to re-
ceivers general and the Treasurer of the United
States, as well as of the Mint and its branches,
in all instances whatever of vacancy or tempo
rary inability ofthe principal. Perhaps the least
Objectionable mode to effect this object would
be- to direct that the chief clerk of all these Of
icers should, in such cases, and where 10 9TH
erlegal provisions now exists, be authorized
and required to discharge these duties, at the risk
and under the responsibility Of the principal and
his securities, till the vacancy is filed, or the
disability removed.
In consequence of some defects in the phrase
ology of the penal parts of the act, new clause
extending them to all disbursing officers ofevery
character under the General Government would
be judicious. A further provision also, respect
ing the places of depGsie, by disbursing officers,
of money not in the Treasury, but drawn out and
put into their hands for making payments, ap
pears necessary.
The keeping of such money is now regulated
by the ast of Sd of March, 1909; and if it is In
tended t bring it within the operation of me
late lawoas to money in the Treasury, it seeths
proper to do so by an explicit enactment. +;
The section requiring discussing officers to
sell their drafts for specie Alone though certain
of paper are allowed to be received
for all public dues, appears not to be in symme-
try with those other provisions. The general in
fuence of the present system is believed to have
been thus far salutary. The true standard of S
value has been rendered more familiar, couf- |
dence has been increased in its stability, prices
have gradually risen, business improved, and 5
exchanges altered greatly for the better c
II something has been or may be lost in con-
(Which is not unlikely by the in t
creasing disuse OF paper currency for public {
much more will probably be gained {
by the circumstances before enumerated, as we'll 1
as by the greater security the use of specie, r
the more stable value impaired by the present 3
system to property and labor, and the strong
check established by it, not only against defal- =
cations, but against bank expansions, excessive :
speculations, and commercial fluctuations.
Even any Inconvenience attending this change :.
in the currency used, if found particularly en- !
banassing can be overcome hereafter, and the ..
system still maintained, should Congress feel
disposed to adopt the measure which was sug-
gested for that purpose by the undersigned in !
September, 1887. l
Such measure would often furnish every adj
vantage OF circulating medium, easy of trans e
portation, of the highest psssble credit and at Il
the same time requiring an equal amount of Il
specie to be employed, Though in deposite,) and a
without subJecting any of the fiscal affairs of the
Government to that legal dependence on corpo- C
rations Tor their management, which is SO objec-
tionabe IN many respects, as never to have been n
attempted in the management of any of its other II
affairs, civil or military. v
The topics of the condition of the banks $,
Of the Union the state of the currency NJ
,he proper places of de Iosite for the public a.
unds, and other matters Immediately connected =
with them have eDgroSsed considerable portion Il
of the annual reports from this Department for =
several years. q
But the keeping of the money in the Treasury y
,eng now separated from the banks, and the kind "
If money to be received and paid out fixed by 9
egal provisions, it is not considered material at
his time further to discuss these matters, than
o submit the general remarks which will be
ound at The close of this communication. p
TX Some miscellaneous topics come ted with u
he inanres deserve brief notice. tn
The various measures heretofore recommend tr
ID to Congress by the undersigned, and which re
rave not yet been finally acted on, again re- tv
pectfully recalledto its attention. ga
Without recapitulating them, it viii be found, q,
IN reference to former reports, that many of os
he subjects possess much Importance in fiscal e,
Jew, and every years experience has strength Ill
ion upon them. =.
1t affords me pleasure t. state that since the -
- session the Neanolt... C.,.arnraer.t ,,rdr ~