Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-03-30
!. The 18th section CT ihia bill la

,h.s iAiuSs to do SO. The 10Th section CT tha bill ia
follows:
"Sec 10th. find be it further enacted, That all Mar
shals, District Attorneys and others, having public
money pay to the United States and all paentecs,
wishing make payment for patents TO be issued, may
paw all such monies to The Treasurer of the United
States at the Treasury the Treasurer OF either of the
MINIS of Philadelphia New Orleans, 10 either Of the
General of public money, such other
depository constituted by this act shall be designated
by the Secretary Of the Treasury other parts of the
United States, to receive such payments, and give re-
CENTS or certificates of deposit therefor"
From this it may be that the debtor of the
United States has right to pay his debt at either OF the
several places named in the act, or afterwards 10 be
named by the Secretary of the Treasury. The New
New York Merchant for instance, who owes debt at
the Custom house of that place, may have Govern
4 Inent draft ST. Louis, and under TINS section OF e
law he NAV choose whether he Will pay his teot VI
ST. Louis, New York. or any other place where ihere
is Receiver General Suppose ne tenders TO the new
York collector this draft payment IN 81 LOUIS,
has he not under this law the right 10 DO SO Anu
when the Receiver General al New York, tenders ths
draft TO the next dsbursing agent, who comes with
draft upon him. there any thing IN THIS act 10 pre-
vent this agent who has received 1t from passing
Charleston there TO be taken up and ressueo ~ Inv
manner without its reaching ST Louis IN Inc way
of trade, Ii il true, that the Secretary might issue
Treasury order forbddng those drafts to be ressuea
but there is nothing in the act compelling nun ~ ~
so, and know of no positive law which ne wouu w.
late If he were fail TO do it, The spirit oil inns ue
| ADMIT would be violated; but there IS no tribunal
to which he could be held responsible for such voa
ton For one, not willing to leave to the ulsc'e
lion OF any what can be attained by provision u
law, and the means of preventing such an occuen.e
could have been prescribed by the act itself, win Inc
utmost facility Ii true, that these drafts, drawn
upon actuai funds would represent the exact amount
of specie upon deposit and thus furnish paper i'he
tina, of the Bank of Amsterdam, which Will be 'aoe
to none of the objection heretofore taken to paper mo-
new But the temptation and facility for overdrawng'
so as TO put out paper based upon credit merely, are
great that it would be highly dangerous 10 FepoS
such n power i'll the Secretary OF the Treasury
II il also true that the twenty-third section oil the
bill requires the Secretary Of the Treasury to enforce
The SPEEDY presentation of these drafts but the ony
, penalty with which he can visit lis puoc s Me-
: or who fails to make such presentation o. ms
draft il to change the mode and place OF payment;
But the change of the place Of payment woaia
mt be such a penalty to enforce the Preseh,.ar
lion because the faith of the Government IS sun
for the redemption Of the draft So easy would
have been 10 have guarded against these dangers ao
It to have relieved this great measure OF REFORM I'm. ~
g odlum of such suspicious rs to the designs oi 10
mers by attaching some sufficient penalty III case u
failure 10 present within reasonable time, hat' as suu
. before have not been able, TO this day. To unders'ahu
n why il was not done. II was under these
that doubted whetherit would not be better 10 trust "
the chances sending the measure forth TO The world
wiibsut the odium Of such suspicious than even "
adopt it, at that time, with these Imperiect'ons p.
,f determined at last to support 1t II came to my Voe
. because as was well urged, this bill did not ncease
bo or the means Of the Secretary of the reasu-
~ to issue drafts for circulation, beyond those gwen ~
the old law organizing that department, according
10 the construction heretofore given to IT, from the e
Of Hamilton until now This being the case, tue nho'
yations made upon the former laws regulating the llca
sury were only those of divorce between the banks
and the Government which heartily favored ~ wouiu
have been wrong, therefore, TO defeat what was sau
ary because this bill did not provide remedy LOT e's
,Ia
creased them 1t was also urged that the bill niigh'
be so executed avoid those evils and as dd not
necessarily give the responsibility for them
should they occur would rest upon them VINO execueo
and not upon those who voted for the bill, whilst the
remedy for such evils always IN the hahus OF 'he
people Under these circumstances should have votea
for the bill; but would not have done so, II the ola
law had not been in existence or u IL never had recc'
IS ed these constructions which give the Secretary
! larger power over the subject of drafts than the b
o of which am speaking. Secretary Hamilton, IN his
= letter of 22d April $780, TO the House OF Representa-
lives claimed under the old law the right " 10 anlici-
pate The duties bv Treasury drafts receivable at the
$ veral Custom Houses. And although the law reinir-
ed the receipt of gold and silver only IN the payment
i of duties, he maintained that spec'e-payhs NOES
might he received under the authority vested III his de.
: parment The present Secretary OF the Treasury as
YOU we'll recollect, did issue drafts on funds IN The
= banks during their suspension, with the avowed I'M
Outstanding that they were to be received IN payment
y of public dues thus substituting the credit of Govern
ment for that of the Banks and obtaining paper bet
Tor Than theirs for circulation As financial expe-
: dent, this great convenience al the lme, ana
y his power 10 do under the existing laws, has not
/ been denied within my knowledge Before the pas.
sage of the bill, the Secretary OF the treasury dld
draw in such amounts and at such time as he thought
! expedien so that, according 10 the previous practice
under the former laws, his power IN this regard, was
as great: nav greater than under the Independent
Treasury act The sin of this BILL therefore, IN my
>, opinion is OF omission rather than OF comnIsson
and as in other respects It had as believe, the great
merit Of separating the Government from the Banks
should have voted for it, as said before, If the occa
= sion had been offered. But must express my deep
regret that this great experiment should have been
sent forth the world under doubts and suspicious
which mirht have been avoided with so much ease--
III An INSCRIPTIONS, even an ignorant Secretary oil
the Treasury by the issue to individuals at drafts Tor
s. sums less than dollars, small to ensure their
permanent circulation, might burhen The measure
with an amount Of odum great as 10 crush II IN the
bud Ii is time that the principle ot separation con-
ained in the bill ought not to be charged with evils
which do not necessarily accompany IT, But IS OF
human measures as of individuals, that character
lost is recovered with difficulty, and unskiliul expert
menis have often retarded the progress Of truth.
In thus stating my objections 10 the details OF this
bill is no part of my purpose to escape the response
blity of nv attachment to the principle OF separation
between the Banks and the Government; for, on the
contrary take this occasion TO repeat deep.rootcd
conviction Of lis justice and expediency Neither IS 1t
6 nv wish to cast upon those who differed with
me as TO the details Of this bill but desire 10 guard
g the measure as far can, rem the evil effects Of any
mistakes or errors which may have arlsen either the
form or execution Of this law as il now stands.
With great respect
i am, yours, &c,
r. NJ. 7. HUNTER
TO THE PRESIDENT OF TnE !. s-INS' H. i'I',''
Il a.t,t.a