Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-09-11
THE ENQUIRER.
RICHM OND, VA.
Thursday Morning, september 10, 1916.

| X 10 III vi ~ ~ -, VA.
Thursday Morning, September 10, 1916.
THE CALUMNlES UPON THE TREASURY.
The ISLANDERS upon the Treasury Department
OF The U. s., recently uttered bya portion OF the
Wing press, have been numerous and unblushing.
Every exertion has been made 10 hwar The move
men;s OF the Department IN carrying out The
policy OF Congress. All kinds Of rumors have
been circulated by The friends OF the bank paper
credit system in order 10 defeat the successful
operation oil the government measures for rcstor-
| Inr the Treasury and the currency contemplated
| BY The Constitution. The iavorlle SANDER is to
charge The Secretary OF The Treasury with au-
,horizins over-draGs upon The banks, intending
thai the drals OF the government should circulate
as currency. This charge, as well as others, has
been duly met By the Democratic press who
were coynizant of The iacis. We have no doubt
that most OF these stories about the Treasury be-
ing in difficulty and having issued paper for cir
cuaion without means 10 meet il, had their ORR
! Gin in stock jobbins purposes. They were de-
signed and set aloat By men who desired
10 drive a penny by buying up he secur-
lies Of The United States Government al heavy
discount caused by panic denuncialions through
certain interested presses. We say, lei the de-
signs OF these persons be defeated, and let il be the
object of all good citizens 10 uphold the faith and
credit Of their Government.
The following articles vindicate the Treasury
,,l,: IL IL.
From, The Unronl
ANOTHER MISREPR PRESENTATION
The Alexandra Gazette seems striving Tor the
palm in circulating andorisinalins Measurements
as regards the Treasury Department. BnI few
days since VIZ had 10 correct lis gross misslale-
mems as 10 the Secretary Of The Treasury in re-
gard 10 The Secretary Of the Senate and Clerk Of
the House. Those ca'umnies were silenced BY
The published letters Of Mr. French and Mr..
Dickens Yet notwithstanding these exposures,
the Gazette is no sooner convicted Of one misre-
presentation than il originates another We copy
from il the following editorial anice:
(From The iica0nd5ia GAZETTE, 81 yktpJcr A.
OVERDRAFTS.
"The Wing press and IL scfibtcr> are again
misrepesenling the Secretary Of tie Treasury
The department has made no draft upon any de-
posury oi' lie public money, where there were
no funds 10 meet them. Il fai"n, august 29ri.
In answer 10 the above, il is only necessary 10
give The following statement o The account ol The
Government with the Canal ard Banking Com
pany ii New Orleans, louisiana" Is published
oNeiaiia in The Union Of yesterday:
Amount on dcpose S77S9ll o.
paid, though payable, -l,57sas9 IS
Amount oserdrarn -S799377 70
In addition 10 The above, however, we may as
well add The following, which we find in letter
from Philadelphia 10 the New York Express:
upon arriving in this city yesterday from
Washington, | heard among business men al
the Exchange the greatest complaint against The
Secretary Of The Treasury Tor drawing drafts for
much larger sum On one oilhe Banks here Than
was on deposile. The draft was honored by The
Bank, and the credit and character o. The Co.
vernmeni saved from The disgrace Of protest.
Yes, one Of these wicked, mono1oizng, NAM
moth, pei banks performed This kind Office iof
the administration, and paid ou as learn, not
only the last shilling OF The public money depo-
sied in lis vaults, but a good many thousand
dollars beyond ihis sum Comment Is unneces-
sary."
Now will not our readers be amazed 10 md
that, in The very official statement oi The Trea-
II.
shown there vas no over!ratt2 In the official
statement of the Treasurer published September
81 and Sd in the Union and lnieiligencer, in
which the above figures are given, there is also
given as part Of that statement, the following
"Translcrs ordered 10 lha Canal aud Banking
Company, New Orleans, 1871 800" Showing
that The transfers. aDc which are always issued !
in time 10 meet any daft, would leave large
surplus 10 the credit VI Inc Treasury. These
Transfers as from New York, for instance, in This
case, are heard from as funds actually RENTED
BY those banks 10 The Canal Bank at New Or.
leans, before the draft on The latter is issued and
in time always 10 meet il, but do not appear in
the returns of the bank until the next weekly re-
turns. We repeat again, that no oyerdrait ever
has been made since this administration came
into power. We say again, the Canal Bank ne
yer has been in advance 10 the Government one
dollar; on the contrary, the Government has al
ways had large surplus TO its credit in that
bank, and still has large surplus there.
From The sane
THE ALLEGED OVER DRAFTS BY THE
TREASURY DEPARTMENT.
There has been so much barefaced and de-
libcrale un,rulh uttered BY the Wing journals in
relation 10 The dcpcsi,e and draft Of The public
money by the Treasury Department, that we are
almost tired OF conradiclng il. The following
Ie,ler from New York, gibbes another OF these
Wing SANDERS, found il seems, by the writer of
The letter. in one Of the usual haunts OF such
,hines-the columns OF The New York Express.
New YoRk, September 5, 1916.
The II. Y. Express OF Friday undertakes 10
show (and il has made much stir in Wall sIreel)
that the Secretary oil the Treasury has committed
a fraud upon The public by reporting more money
al his credit in the banks u this city than what
he really has; and rs an Instance takes The quar-
tcrly report published BY our comptroller on The
Isl Of August, and the monthly report OF The Sc
creiary made up The 2sih Of July, and finds, IN
the latter il is stated that there is rising million
Of dollars at his crcdi in The Ranl; ol the State Of
New York and the Bank oil Commerce, while
these hanks report not one cent three days alter
wards
The whole Of this matter is easily accounted
for, and the blame, it will be seen, lies with the
two Banks, and moi with The Secretary. The
truth is, these two Banks have been in the habit
of including the amount they hold in dcposilc
OF United States money in their individual dc
,os,ie account. In Other words, all deposes
made in these Banks, whether by merchants in
surance companies, or the collector oil this port,
are huddled together in one grand lotal and called
"due depositols on demand" whereas the Other
deposile Banks Of this city stale separately The
amountdu the Treasurer Of The United States.
HARD TO SATISFY.
The Wing press are commenting upon The
fact, that The English newspapers do not conceal
no Ia. ,bey fool al The massage OF the Tariff Of