The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-06
Important = yeasury Circular.

Inp0rtant = yeasury Circular.
The Secretary Of the Treasury hes issued circular NJ
strucons The Treasurer Of the United States the ass
OF The United states, the ueasurers OF tho
mint nd the branch mnts, charged by Law 9Th the du
Of assistant easurers and the public depositr
Designated under the neDth section OF the act Of the Oh
Of August, 1915.
The &C, Of Copgress of March g. 1857, eued act 10
amend entitled "An act TO provide for The better or
gsD7at the treasury and fof the collection, safe
Keeping transfer and d- oursement OF the public revenue
equmes them safely keep ali moneys depo-ted BY aoy
The depa, tment instruct. them when ever such money
thsll be offered for deposit with you by such officer
agent or tba be remed yo for the credit OF snch o.
cer or agent, you will recei IT, and Dse the amount TO
the creo Of such officer agent your bo,ks, subject
to the checks OF such officer AGENT hereinafter d.
rected "
Is ako provided by the act, that Disturbing officers
agents sha draw for the amounts depted only In favor
OF the persons to whom pay 10 oe made In pur-
suance and instructions excep, when pay mens are
TO be made In uncer twenty dollars Such insruc-
tons should be given as may enable ,hs provision BIO
practicable " drafts only be made pal able 20
public creditors In person, according TO III literal erms,
The intention Of he act would be defeated, since very
large proportion Of the 10 whom payments
qured be made retde such distances from puhlo
oepo+iiares that they would refuse 10 accept drafs
pay ment, If compelled to present them In small
portion the Of the United Satee Guild
be paid by bursting officers or as@ under scs con-
suucti.n Of ihis act
sboald the depoeariss recognize drafts ayabe In the
aleT palve-to the persons to ~bom payment rs IN be
M sde their ordsrsuch 70 would upon pub
lie ueposaries the responsibility Of Verifying every
dormen, upon drafts presented fer meni, under tho
hazard Of being Compelled " pay the rue ynor out OF
their individual property, should the' ia pail tho pub
hc money upon any forged eDdorremeut Of such drsn
Disturbing officers checks have been or era years
pas, eAensiv ely employed means of remittance from
section Of the couhtry 10 another. This will NOT
probably be lessene by increasing the according tho
Intention OF tbs OF endorse
ments of course be aggravated Thi, deparm ut can
not impose such hazard repo' iaries
The only secure and proper mode o enforcing this pro-
vson is accordingly To in-uuc on To declnete pay
Of the draft cheeks Of dishursiDg officers dis
bursirg DTS unles in favor persOns whose
Identity Is kpown AID presented for Jay nen by them
agreeaby to the OF the act checss may
be In favor OF per or bearer according
the form htI fore osed by ths depant sucu
checks may be DRAM b. any DISTURBING obcer or dis
bursipg agent payable - himself bearer, either
contain the statement, that they dsasn To ANAL
claims, list or schedule the Slams 10 be paid by
The OF sucn che cks be received ond
ing in amount before the delosiares will be authorized
such cbecbR, unless the head n the department.
burning agent acting -ha expe"y au,hDrze the pay
ment Of the checks fl such officer sgoo able 10
himself on bearer without such st or schedule IN which
,he authority and lay o. ucb onec<s H'll be Hled
The circular instructions the diSDursDg Office and
dsburspg agents employed unacr tho direction cf tho
reamy Department are clear and specific, and conclude
Z follows
in cases therefore where dsbursng officers or dig
bursing agents shall receive money for The ireasrers
drafts, emitted specific estimates for Immediate
pendure, they vii at disburse the money for tho
purposes and objects emaied, without the delay and Ia.
convent, OF placing IN public depoitory, unless u
be near at band In which case uch depote may nc made
The di-bur' for Of collecting tho
and tn, conjunction oi pu0nc buildings IN ChHgo
Of this depa iment will oraingly he peri ic,y made,
pursuant to estimates provided for by the relsurers
drafts as heretofore
Impo, tant Decisipn County Bonds.
The dapapo IA otrs at publishes the decision OF tho
Crcpt Court or the United states Of Inti,ns the case or
David C. Wallace aganst he oners OF Knox
IT, IN that State The Bosfd before the adoption or the
present institution OF DfaDa 1901 10 pursuance ~ tho
terms Of statute aubo,izDg the same subscribed
800 The capital stock of the OH" and Mississippi
Railroad Compapy and after the com tuition took ef.ct
fg hnnng viii a m
stock the usual form TIE county failed 10 gay the in
brought The amount Of the coupon. held by
The plaintiff the bearer The defence rested substan-
TALLY on the following grounds
That the subscIpr void the county having no
right to make It for rai Dad purposes
That the bonds VOID having been issued aner
the bkne effect OF the constitution If 1861
g. That the void FIR the ant OF power 70
ssue them. even II the bonds valid.
4. That the Lao OF the ate submitting tho question 10
The people Of Knox county whether Tho commissioners
shn suDsc ibe the stock unconstitutional and VOID
Judge Mclean dec ded--
That the action couo be maintained upon the coupons
that each OF the points raised In the defence
talnable In point Of law that the subscription valid
and binding upon the county Of Knox that tho Court
would have com 'eled by mandamus the i-sue OF tho
bonds had the commissioner refured TO issue them;
hs be subs cripoD having been mais before tho cust
ton OF Indiana of 1851 was in free could not De affected
by thai ius that tn issue Of bonds Is not nhbited
by the State constitution, VII III only apoes To subscrp
made aer the copstit TOOK eject could tho
contribution s.ct those bonds, bombs named
IN its prohibition tb ey Dot q new contract, bus
merely coDsummaion Of the previous conac' OF suo-
scrpon thai mad before the adoption OF tho cons
iuioD therefore both the subscriptions and tho bonds
rr tecied by the cons uiion OF the Uned Stas;
that The coupons merely incident to the bonds and
ed al The legal effect from the bonds and clear
~ authorized to be attached the bonds mater OF
cpvenerce and facilitate the pa msnt OF the interest,"
that the Law submit ing The qu' al VI The subscription
to the people Of the counties WA valid and binding enact