Rensselaer Republican, Volume 27, Number 38, Rensselaer, Jasper County, 16 May 1895 — STATES MAY HAVE TO REFUND. [ARTICLE]

STATES MAY HAVE TO REFUND.

Demand Likely to Be Made for Cash Received Years Ago. A very interesting question has been raised as to whether, in view of the depleted condition of the treasury, the twen-ty-six States of the Union, which in 1837 received from the general government depowits amounting to over $28,(XX),000, could be made to refund,. The first few months in 1836, Congress having refused to extend the charter of the bank of the United States, found the Government in Itossession of between $40,000,000 and $50,000,000 for which it had no present need nor suitable place for safe keeping. On June 23 of that year an act was passed authorizing the Secretary of the Treasury to deposit, under certain specified conditions, all of the money save $5,000,-

000 with the Stafes on their assuming the obligation of payment on demand. The sums of money which eaeh of ths twenty-six States received, as stated in several annual reports of the Secretary of the Treasury, was as follows (cents omitted): Maine, $955,838; New Hampshire, $669,086; Vermont, $669,086; Massachustffta, $1,338,173; Connecticut, $704,670; Rhode Island, $382,335; New York, $4,014,520; Pennsylvania, $2,867,514; New Jersey, $764,670; Ohio, $2,007,266; Indiana, $860,254; Illinois, $477,919; Michigan, $288,751; Delaware, $286,571; Maryland, $955,838; Virginia, $2,198,427; North Carolina, $1,433,757; South Caroline, $1,051,422; Georgia, $1,051,422; Alabama, $669,086; Ixmisiana, $477,919; Mississippi, $.382,335; Tennessee, $1,433,757;" Kentucky, $1,433,757; Missouri, $382,335; Arkansas, $286,751; total, S2B,101.633. In his annual report for 1885 the United States Treasurer says “that the fiction” that these deposits, amounting to S2B,101.633, may some day become available has eeased to be held. It is a singular fact that the records of the Treasury Department do not show that any demand has ever been made on the States for the repayment of this money. It seems to be' the general opinion that an act of Congress would be necessary before steps could be taken to compel a repayment, but whether such an act will be passed by Congress is extremely doubtful in view of the fact that the represenratlves oC twenty-six States in both would, be interested in its defeat.