Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-05-28

ing money IN New York. he buys and transmits II
TO a merchant, who presents it at the Treasury in
New York, and receives one hundred gold eagles
These he may put out or deposite in a bank, or do
what he pleases with them; and the bill is cancelled.
There is nothing In the transaction that any way
derange business. Again, emigrant or other per-
gong west to buy land, is empowered by the 10th
section TO deposite his gold in the Treasury in New
YORK and receive certificate Of deposte, which will
be received the western land Offices pa ment OF
public land. The Secretary of the Treasury is also
empowered TO transfer the public monies from one de-
postory to another, and TO draw freely upon each or
ALL but he can do so only appropriation made by
Congress- and warrant having the signatures of all
the officers. As an example of the checks imposed
upon the drawing Of money from the public deposito-
ries, we form Of the warrant that been used
for some time.
WARRANT. Treasury DEPARTMENT.
TREASURY. TOT c., Treasurer Of the United States
GREETING
No i05
Pay A. D., Marshal Of the District
Of, order, Of the appropua-
ton named n the margin, Fifty Dollars
APrRorRIArroN account Of his salary for the quarter
For compensation ending 30th Sept, IS, sgreesby
Of Dist Att'ys certificate Of the Comptroller Of the
and Marshals." Treasury, No. zOl2. Dated Oct. lst
IS. Recorded by the Register. For
doing this shall be your warrant.
Given under my hand aud seal Of the Treasury this LIST
L. S. day OF October in the year thou
Treas. Depos. sand eight hundred and forty aud
Of the Independence the sixty
b c.
- Secretary Of the Treasury.
$50 COuntersigned, Jos. ANDERSON Comptroller.
Recorded, T. L. SMITH, Register.
The Cashier Of the Bank Of - will pay the above
warrant agreeably to its tenor.
Received payment of the above warrant from the Cash.
Ter Of the Bank Of c. ID.
A@B-, Marshal Of Dist Of -.
Here are the signatures Of four officers, each Of
whom takes cognzance of the transaction !: but sim
guarly enongh although all gave their orders neither
of them had the money to pay. He who by law is
the Treasurer, and should have the money, gives an
order on bank to which the money was loaned and
in some cases these warrants have been dishonored
because the banks had lost the money loaned them and
could not pay the amount When the public creditor
goes TO the Treasurer for his money, he gets another
order on Incorporated bank-a shadowy construc-
tive Treasury, which does not pay the money, but
gives some promises to pay it-promises which cost
II nothing and which do not bear interest. The In
dependent Treasury puts end to that proceeding
The warrant coming to the Treasurer of the United
States "greetng," requires him TO hand five gold
eagles, instead Of demand on other party, who
pays in promises. This great evil of allowing banks
to retain the public money, and meeting the govern
ment demands in one set of promises, lending sim
liar set to specuaters and another to their customers
and all three based on the sum equal to that
the Treasury loans them has drawn forth the denun-
citations of all parties, except those who profit by it.
The government of England, which $50 years since
commenced this credit system, have now also sought
TO remedy it. The law lately passed, re-chartering
the Bank of England took from it. as well as from all
other banks in Great Britain, the power to multiply
the currency. The leading bank of the world in the
centre of the commerce of Great Britain now issue
no paper than she has the gold on hand to repre-
The government of the United States unhapp
y although empowered by Congress to coin money and
/ al.
zed in State governments the right of chartering
porations TO issue paper a currency and has not
attempted TO control those issues The manifest evils
that have resulted from the system, establish the
Importance of checking those issues far the with
drawa of the patronage of the government will effect
it. The successful working of the new Treasury law
supported by the operations of the mint in New York
city, will clear the way to the establishment of an In
dependent Treasury for New York State and we trust
! eventually, for every State in the Union.