New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-09-09
IAH NOT REGAkDED.


II il claimed by Treasury officials, who no
doubt have the authority of their superiOrs III
the department for their opinion, that the silver
certificates are "just like blank checks, which
are cancelled as a matter of course when taken
inr But lust there's the rub The Treasury
is not a bank, though Mr. Jordan sometimes
seems to think that the lawlcSs and autocratic
management of a private bank ought to De
initiated in the Treasury department. On the
contrary, il is branch of the public service.
Every man employed therein IS servant oil the
public. and every man and every act arc gov
erned by law. The bank checks can be maze
by any deposition in a bank at his pleasure, ana
the bank can make just such regulations as 1t
pleascs regarding the form and number OF
checks and the mode of payment. but the
i.sue of silver certificates Is authorized and re-
ouired by law, under conditions distinctly
specified, and it is not within the power OF the
Treasurer to issue them wnen he pleascs, or to
cancel them when he pleases. IL would save
the present officials much trouble II they could
once get it into their heads that the Treasury Is
not private bank, but branch OF the pU5ilc
service.
These officials appear TO pay no attention to
the law governing the issue and use of silver
certificates. The plain truth is that they have
no right to make note of the United States, or
TO issue such a note, or to cancel such note,
without authority of law. The act OF 1878
provides that silver certificates shall be issued
not may-under the following conditions:
sEorros g. That any holder OF the coin authorized by
this act NAV deposit the with the Treasurer any
Assistant Of the United States IN sums not less
than So aud receive therefor certificates OF not less
than 81 each pondng with the denominations OF
the United States notes.
The coin deposited for representing tho certificates
shall retained IN the Treasury for tie payment OF the
demand.
sad certificates shall be receivable for customs. taxes
and al public dnes. and when received may be re
issued.
The coin "authorized by this act " is the
standard silver dollar. Any holder thereof
mayn at his pleasure deposit and shall then
receive a certificate. But the Treasury has not
the slightest right to issue any note of the
United States promising to pay silver except
ing upon the actual deposit OF standard silver
dollars. Neither has it the slightest right to
cancel such certificates when received, because
the act declares that "when received they
| may be reissued," obviously ON the same terms
as before None of the certificates received by
the Treasury have been received in any other
way than the one specified in the last clause of
the act namely, in the payment OF customs,
taxes and other public uues. The law ex-
pressly provides that certificates when 80 re-
ceived may be reissued, aud therefore must bo
| held, in order that when any holder Of any
silver dollars demands them they may be re-
issued
| At all events, such seems to be the clear
meaning of the law, and it would be bet
ter for the present Treasury officials to study
the law more and plans and devices and Ma
tional policies somewhat less. 1t is not their
business to make laws, bat to obey them. 1t is
not their business to govern the Nation, but to
serve the people.