At a proper time it will be decided under what circumstances and at what periods these restrictions on the agents and officers of the Treasury shall be extended to notes of any denomination under $20.

This communication is made with the sanction of the President of the United States, and it is hoped that till otherwise prescribed by Congress or by this Department these requirements and requests will be faithfully complied with by all the fiscal agents of this Department and all the collecting and disbursing officers of the Government.

LEVI WOODBURY,
  Secretary of the Treasury.

[From Senate Doc.  No. 15, Twenty-fourth Congress, second session.]

CIRCULAR FROM THE SECRETARY OF THE TREASURY TO RECEIVERS OF PUBLIC MONEY AND TO THE DEPOSIT BANKS.

TREASURY DEPARTMENT, July 11, 1836.

In consequence of complaints which have been made of frauds, speculations, and monopolies in the purchase of the public lands, and the aid which is said to be given to effect these objects by excessive bank credits and dangerous, if not partial, facilities through bank drafts and bank deposits, and the general evil influence likely to result to the public interests, and especially the safety of the great amount of money in the Treasury, and the sound condition of the currency of the country from the further exchange of the national domain in this manner, and chiefly for bank credits and paper money, the President of the United States has given directions, and you are hereby instructed, after the 15th day of August next, to receive in payment of the public lands nothing except what is directed by the existing laws, viz, gold and silver, and in the proper cases Virginia land scrip:  Provided, That till the 15th of December next the same indulgences heretofore extended as to the kind of money received may be continued for any quantity of land not exceeding 320 acres to each purchaser who is an actual settler or bona fide resident in the State where the sales are made.

In order to insure the faithful execution of these instructions, all receivers are strictly prohibited from accepting for land sold any draft, certificate, or other evidence of money or deposit, though for specie, unless signed by the Treasurer of the United States in conformity to the act of April 24, 1820; and each of those officers is required to annex to his monthly returns to this Department the amount of gold and of silver, respectively, as well as the bills, received under the foregoing exception; and each deposit bank is required to annex to every certificate given upon a deposit of money the proportions of it actually paid in gold, in silver, and in bank notes.  All former instructions on these subjects, except as now modified, will be considered as remaining in full force.