Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1833-10-10

REPORT.

4
REPORT,
Unit-d States Co the President, relative 90 the
printing expenses OF that institution, referred
TO iu the paper read 20 his cabinet on the sd
Of September, 1855.
To The Prrsdrns Of The Unifed Ssases:
rHLADELrniA, August 10, 1889.
SR-we had the honor 70 receive your
letter Of tho Sd instant, directing W TO exam
the bank Of the United States, for the last two
years. Those OF us to whom it was sddress-
cd, requested the attendance Of our colleague,
hr. Nc Elderly, 10 assist US in the examine
ton On HIS arrival, we proceeded To inves-
tigate the various charges, and 70 look into
such Of the vouchers on which they wer,
founded, as We had time and opportunity 10
do. These are 30 numerous, and embrace 20
many small items of various kinds, that full
view OF them can only be given 10 you, BY
transmitting copies, made by some person
authorized or requested by you or the secre-
tary Of the treasury.
The time aud labor necessary for this mode.
would have prevented our resorting to IL NJ
present, oven had you authorized u to do so,
for we believed Il would he moro consistent
with your wishes, that we should al once re-
port the result Of our own Iabors, leaving
you 10 decide, after you shall have been made
acquainted with them, whether such q more
minute statement OF the expense account be
requisite. We may add, too, that finding the
particulars of many expenditures we're to be
ascertained. only by an investigation OF nu-
merous bills and receipts, we requested, nj
. the board, thatthe cashier might furnish such
| statement OF them might DC susce ptible
OF ready examination; but n this reauest
was not complied with, We were obliged 20
depend entirely on our own partial inquiries.
These 10 - ma
gainst any deficiency you may observe in our
remarks, and amy inaccuracies, should there
be such, in the details which we communi-
cate.
As the expense account embraces the yari-
Gus expenditures for salaries, making and IS
suing notes, transportation Of specie, build
ings, repairs and taxes on real estate, station
airy, printing and contingencies Of all kinds
il Is necessarily SO large and intricate that
we deemed IL expedient at present TO coufine
our investigation to that portion which en-
braced expenditures, calculated To operate on
the elections, rs they seemed TO DO the OBJ
jccts Of inquiry suggested by you. All ex-
penditures Of this kind, introduced into the
expense account, and discovered by US, we
found 10 be, so Ear As regards the institution
in this city, embraced under the head Of Sta
tionary and printing. To IL, therefore, we
chiefly directed our inquiries; and an cxami-
l
! last three years, undoubtedly presents cir.
cumstances which, in our opinion, fully war
rant the belief you have been led to entertain.
The expense account IL made up Al the
end Of every six months, and submitted with
tho vouchers 60 the dividend committee, for
examination. Commencing with the last sir
months Of the year ls29, we find that the sum
paid for stationary and printing amounted to
50, I95 81, which we presume 10 be the ne
1 A. u aft ha tus 4.
item, when no extraordinary disbursements
are made. During the year 1880, the expen-
ditures increased 70 81 3l % during the krst,
and $3.50 30 during the last half year, and
entries are made in both, Of large sums, max
ing together about 81 900 paid for printing
and distributing Mr.. McDuffie's report and
Mr.. GalIatin's pamphlet. These seem 10 be
the commencement Of q system OF expendi-
ture, which WIS, the next year, Immensely
increased, and received the sanction Of the
board, - appears by the entries on the mi
nutes, and two resolutions passed al the close
Of this year and in the succeeding spring
On the 3Oth November, 1880, Il Is stated In
the minutes, that "the president submitted 10
| the board, copy Of an article on banks and
currency, just published In the American
Quarterly Review, Of this city, contain ming a
favorable notice Of this institution, and sug-
gestcd the exPcdency Of making the views
public, Than they can he 10y means Of the sub
scriPtion list-whcreupoa it was, on motion,
Rss0ired, That the President DO authorized to
take such measures, IN regard TO the cIrcuia-
ton of the contents of the said article, either
in whole or IN part, rs he may deem most for
the interest of the bank" On the lth March,
1881, II again appears, by the minutes, that
- the president stated 10 the board, that 10
| consequence Of the general desire expressed
I hss h.. ~ aL....-
the last year, subsequent TO the ad jouFnIneht
Of congress, and a verbal understanding with
the board, measures had been taken By him,
Ia the course Of that year, for furnishing nu-
nervous copies Of the reports Of Gen. smith
and MIR. hcDuflie on the subject Of this bank,
aud for WIDELY disseminating their contents,
through the United states; and that he has
since, by virtue Of the authority given him
by a resolution Of this board on the 10th day
Of November last, caused a large edition OI
Mr.. Galatians essay on banks and eurrency
To be published and circulated, IN like man
Ber, st the expense Of the bank. lie sug-
gesiod, at the same time, the propriety OF
extending, still more widely, = knowledge OF
the concerns Of this institution, by means Of
the republication 0f other valuable articles
which had issued from the daily and period zeal
press ~ herevpon Il was, on motion, Rssotrsd
That tho president Is hereby authorized 90
cause 20 De prepared and circulated, such
documents and papers ~ may communicate
90 she people information in regard ~ the
nature and operations Of the bark"
Ia pursvanee. u ~ presumed, Of these re-
solutions, the item Of stationary and printing
vas Increased, during tho fFst half Of the
year 1891, 20 The enormous sum of t29 $40
~, exceeding that % the previous half year
by $40 900, and exceeding the semi-annuaI
expenditure Of 1923, upwards of $4,000. -
The expense account Itself, a. made up Ia
the book which was submitted to US, contain
ed very little information relative TO the par
ticulara Of this expenditure, and We were
obliged, in order 70 obtain them, Co resort Ia
sn inspection Of the vouchers. Among other
sums was one Of S7,sOi, stated 10 BE- pad on
orders OF the president, uRdeF the resolution
Of llth March, 1891, ard the orders them
aelHea were The Only NoneheFa % the eHnsn-