Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-08-21


300. TREAsuRr OF TIE UNITED STATES,
Washington, 27li June, 1876.
AT sight pay 10 T. J. Leslie, pay%asIe GE Or or
der ono hundred dollars. w. SELDEN,
Treasurer of Uniled States.
No. -. Registered 9th June, 1916. 300.
Canal and Banking Company New Orleans.
H. II. GILLET.
Register 81 the Treasury.
Now. what is this dran7 By he Law as it stood
when this draft issued, the pubic moneys were
Deposited, By express direction oil law, win The
Canal Bank al New Orleans, To the credit Of the
Treasurer of the United States, by whom pay
nen,s are expressly authorized BY lawto be made
by his drafts, (recordcd and couniersiened by The
rrgisler,) upon any depository of the public mo-
ney, upon warrants from The War and other De-
paltments, drawn upon the treasurer for payment
Of The appropriations made by law.
This draft, then, is in precise conformity with
The law, and also with The usage OF The Treasury
Department, fromiis first organization down 10
| The prfsen; p. rind, and no other description VI
drafts has been authorized or permitted ny Mr..
Walker; and YET lie National lneliis"ncer,
| through lis correspondent ci Ihs morning, ard
kindred Wing presses, with view 10 e':bara-s
The government 81 their country, and injure is
credit in lime Of war, would endeavor 10 destroy
The validity Of these drafts. Such was the
course Of the British Wing organs opposed to The
war Of 1912, anc such is the course OF the Next
can organs al this period. The object in both
cases is The same-to ,nJure the credit 81 their
country ~ time of rar.
The War Department, TO pay an apprcpria-
lion made by law, issues warrant, as appears
BY the above form, on The Treasurer. in favor VI
a payma>ier of The United States; and The Trea-
surer, in perfect conformity 10 the law and uni
form usage, ISSUES his draft Tor the money on a
public depository; and The bank and high-tarif
press-hc great hank paper mannfaciure!s-ha &c
me audacy 10 assail The Legality Of these drafts,
aud ,nld arrest, il they could, the indispensable
operations Of the Treasury Department in pay
menl oi The public creditors and Of the army Of
he Union. But il is said these drafts, although
issued betore the passage OF the new constitutional
treasury law, are forbidden by that law. The
very reverse is the tact. They are in perfect
conformity 10 that law, and directly authorized ny
il in many sections, but especially in The 20lh
and 2ist sections. In obedience TO these proy-
sinns, and Immediately after The publication al
The law, The attention Of the proper departments
was called by the Secretary of The Treasury 10
these sections, in order That obedience 10 them
might be enforced by proper Instructions 10 their
paymas eTs and other discussing agents; and a
compliance with The law will be sric,'y exac,ed
The Secretary OF The Treasury, who is ROW put.
ting in operation The new wa!ehousin- biz nv
proper instructions, will also himself very specdi-
iy issue The most stringent regulations under lhe
20h and 2lsl sections, as above quoted, 10 en-
force The speedy presentation otal treasury drafts
and prevent their becoming paper circulation;
and the mex, complaint we expect TO hear from
the bankwhg press is, that these instructions arc
100 rigid MIR. Walker believes that one OF the
great and bene6cenl designs Of the constitutional
treasury, law is 10 diminish paper circulation Of
nd no circ totio NJ
gold and silver. To mat end, in recommending
the adoption OF the constitutional treasury, in his
last annual report, MIR. Walker said:
"The Secretary of the Treasury, on coming
into Office, tonnd the revenue deposited with
banks. The law establishing the Independent
Treasury was repealed; and he Secretary had no
power 10 rc-estabish thai system. Congress had
moi only repealed that law, but, as substitute,
had adopted the present system OF deposile banks,
and prohibited changing any one of those for an
other bank, except for specified reasons. No al
tentative was left but TO continue the existing sys-
tenn until Congress should think proper 10 change
it, The change, il is hoped, will now be made
by return 10 the Treasury of the Constitution.
"Nor will it be useful 10 establish consiIu.
,ional treasury, il il is 10 receive or dsburse the
paper of banks. Separation from the banks in
that case would only be nominal, and no addition
would be made 10 the circulation OF gold and sill.
yer.
"Various forms OF paper credit have been sus-
gesied, as connected with the oneralons Of Tic
constitutional! treasury; but they are all consider
ed as impairing One OF The great objsc!s OF such
a treasury namely, an augmented circulation
of specie. i! paper, in whatever form, or from
whatever source il may issue, Should be intro
duced as circulation By the constitutional uea-
sury, il would precisely to thai extent, diminish
lis use as means OF circulating gold and silver"
Such were Mr. Walkers views, as expressed
In his annual report; and they will be carried
into full execution. Nor did he desire lha, any
circulating paper ever should be issued under The
bill but The very reverse was both his expressed
intention and earnest desire. Lei the bank Wing
press complain as they may; but The specie cir
culaton will be greatly enlarged under the in
siruc,ions of MIR. Walker, in carrying into full
execution The Law esla bishing the constitutional
treasury
THE REMONSTRANCE-The Augusta
(Me Age says: Since The Wings have pub.
lished their remonslrance, We have asoerained,
and are authorized 10 state, that more than
seventy.hree Democrats Qhe number necessary
for choice,) voted for James w. Bradbury on
the final ballot. OF the truth Of this statement,
We have The evidence in our possession.