Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1854-12-05
TIE PIRLlC DEPOSITs.


existed Tor some umc owing to a ruInor TINT
Gov. johnson intends 10 remove the deposits
from tho Banks, to which they are entrusted by
law, in consequence Of their having refused 10
receive the nuIcs Of the trans llcghHny Bank
which are at II discount Of twenty per ceHt on de
post. The Enquirer, Of yesterday, publishes
the law On the subject. which constitutes two
sections Of tn revised Code, section 20. page
81 read a~ follows:
"Of the moneys paid into the public treasury
Of the State, one third shall be deposited in the
Bank Of Virginia. and one third in the Office OF
discount aud deposit Of the Exchange bank Of
Virginia, ct Richmond II either OF said Banks
shall Ut any time refuse to redeem its bills or
notes in god and silver coin. no further deposits
Of public money shall be mnde therein, but such
deposits shall be III the other two or one of them
ii they. OF either, continue, continue to redeem
their bills and notes in specie. And itnclther
81 continue, or if the Treasurer shall at any
time have good cause to believe that injury will
be sustained hy the tat, from HAVING its money
deposited in said Banks or any of them, he shall
uakc written communication Ia the Governor
on the subject, and thereafter shall krcpth pub
lie money ~ such spcclc paving Bank, or such
other place. u the Governor may direct, until
father provision hc male by law. In the inter
val hcior" such provi sion, moneys 10 be paid in
to 81 out of the public treasury may Ice received
or paid on thu warrant nt the proper Auditor, re
qurlng the treasurer torecciyo or pay the same
without any deposit being made, ~ check drawn
upon Bank, "A, prr-cIib al 10y the 18th chapter
Sect. I,t. page 2,E reads thus:
All moneys to b. pad into the public treas
ury pf th- staff, shall b. paid by the person Ii
able to pay the sbme, or has agcnt, into one ot
the Bank- ia the city d Richmond in the fol-
lowing manner: \ warrant shall be obtained
from the First Auditor or the Second Auditor,
the cnse may he, directing tn treasurer to re.
ceiyc the sum L, be paid, the Treasurer shall by
his ordsr upon the said warrant require the ca,h-
Ter of one 81 tie said Bunk, torctciYc the sum
therein mentioned and upon receiving the same
the proper officer Of the liuuk shall give accrti
cate on the Same warrant that said sum has been
paid into such baul to he credit Of the treasurer.
Gpon the rctarn Il the warrant, order aud ccrtii
cate the treasurer shall give eeIpt for the sum
paid; and upon the saiue b,ing delivered to the
Auditor whamnl have issued tn warrant ,ho shall
grant receipt therefor
The Dispatch says it has cnquired into the
matter, and a~ccrtaned that no correspondence
has taken place on the subject between the bank
officers and Governor johnson. We have no
idea the Governor would take advantage of the
present crisis TO cmbarrns, the credit of the State
still further aud rs lac can do nothing without
IA communication from the treasurer, stating that
in bis opinion. injury Will he sustained by the
state from continuing the deposits in the bank,
we see no reason 10 fear that the treasurer will
make it. y lar more serious danger i pointed
ont by the Euq rer. and 1t shows deplornhlr
deficiency in the law somewhere. 1t is this
The law requires 9hcli> aud al other public
officers to rrcvivethc notrS oi tllr Trans Ale
ghnny and oth,r State stock banks in payment
OF taxes aud Other public dues. and 10 pay their
collections into the banks OF this city. Now,
suppose the banks refuse tu receive them at par,
as their duty To their stockholders CHE State
IL. a.. 81. L.,