Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1842-02-26
REPORT OF me SENATE COMMITTEE

REPORT o. a SENATE COMMITTEE
A repor, Was presented from the select commit.
tee OF the Senate upon the Exehcqucr board on
Tuesday last IL appears evident from this report
'hsta few men at Washington are laborins hard to
get that ball through in some Form. We believe
they viii succeed. bot we fear that ia doing 30. the
whole utility and value OF the bill. as Gri reported.
wilt be irterSd away
The Senate report ia known 10 be from from the
pen Of Mr. Tallna ige. and 10 Acknowledged or oil
hadd1 to be an able one The justice OF this Vdmis.
sion our readers will see On reading Il
A careful reading Of The report will give every
one u full understanding Of the Provisions of the
bill reported by The committee. The general fea-
lures Of the plan proposed by he committee. DO not
materially differ from the provisions OF the hill sub
n;icd with tho report Of the Secretary OF Inc Trca-
sury, except 10 modify them 10 an extent which. ~ is
supposed. Will relieve them ofthe objections urged
against them. These objections are considered un-
der three heads.
lsL The patronage aad power which the origin
inal bll gave 10 thc Prcsileut
The cummitieo proposes 10 Mate this objection
as Tar as u H. possible.ior @ must apply To uny system
which may be divised. the original bill vested
the management OF the Evchequcr m a nrd Of
Control" TO consist Of tue Secretary at the Trva.u.
~, the Treasurer and three commissioners. 60 be ap.
pointed bv The President. The committee limit he
BOarl 10 the three comm ssiuncrs aud place their re-
moval on such grounds. and 81 restrict the power
of the President over them. n will confne u Ia the
simple nomination. in rhe first instance. Of tho CON
missioncis What these limitations and restriction,
are. will he seen on reisnco to he report
% objcchoq-Uudcr this head The committee
consider The power ofJho Board ofExchequer 10 sell
bills of Exchange. The objection they admit To q
certain extent. and they propose Ia obviatc n by re-
s'ricting the Blari 10 The selling aud collecting 81
bills OF exchange. The collecting is to take the
{ place of purchasing. and ia tins way no payment
, WI b. made OF the bill deposited for collection un
ul advice hns been r. ccivcl That Il had been pail
then he proceeds are 10 he paid 10 Tie person en-
uiled TO rcceiuc them. aztec dcdurrng lhc charge,
aud commissions. This will serure The Govern
ment against loss, gets clear Ut ,he uhj,cuun Of il,
m'ney being luaued outnnr ad .ris facilities Tor col
lecting balls and dn1s on distant places, which vii
he ct advantage to the business Of the country.
81 e9eohcH.-Ghis applies applies 10 the issu,
oiTreasury notes on the credit OF The Government
The ComtRitiee, admit the force tof the objection
and exclude Il irum the plain. The EHchequer an,
ITS agencies are therefore prohibited from issuing a
~ notes. except on a deposile Of coin 10 an amount
equal tn hat Of the nutss issued. 80 that the note,
IN Giro ulation shall never exceed the amount OF spe
ce In The cIchequer. These nsles are redemeb,
only at the place issued, unless the board shall sc,
cause 10 order othrwise.
Having ohviised the ohje tons urged against IN,
plan Of the Secretary of Ihe Treasury. the Commit
tee propose 90 NJ notifications Of IL. 81 as 10 secur,
It's safety and usefulness.
Among the provisions. is ole limiting The premi
um charged on any bills OF exchange sold or &C
Icepied 20 two e. Sent;and another authorizes the re
ce.pi IN payment II public dues. of the notes q
banks redesma6!e IN specie at the place where re
ceived.
The bill has been made the special order OF IL.
Jay for Monday week. the 18th Of March next.