Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-05-13


is persisted In 1t is The object is show the
amount Of Treasury notes and loan available This is found
by showing the amount which has been heretofore used in
change for specie and in payment Of debts deducng the
amount redeemed" In this Of the amount "
deemed entered this Of S67 622 and thus much dn-
she the amounto ava and increases the available
N future This wrong. portion the stock authorized
under the loans OF s46 and s47 used 70 pay old debt
The amount Of stock thus used is properly placed part of
the avas Of these notes and loan The stock is outstanding
and constitutes part Of the public debt II was applied to
pay Treasury notes issued under former acts This is the
same % applied to pay any other debit and that the same
a. i had been exchanged for SPECIE and that specie applied
pay that debt for any other purpose The stock Is out
standing, debt against the Government So much Of the
leans Of ls46 and ls47 been used It be used
again dinmshes the amount hand. II is said that
this u merely payment of old debt by one II Is
true but nothing to the purpose Much Of this loan has
been very properly applied The amount of stock notes
on hand Is as eectuay exhausted by taking up old loan
paying any old debt exchanging the amount for specie
Surely nothing be evident and yet the Department
Of the Treasury and the friends Of the Secretary and Admin
istraou in both Houses Of Congress persist in this gross
ror Th question whether the Of the aras of Trea
sury notes and loans of 1916 and le47 Tor the quarter is
duced because part Of the loan applied pay this
old debt These notes ressuabe but cancelled
when paid like any other debt and just much Of the loans
Of lsa6 and ls4T is used pay them does most clearly
much reduse the balance remaining available of the notes and
loans of lSA6 and lS47.
Il will be seen by reference to the statement Of the Re-
gster that thy amount Of s6 tce deducted from the
avas of the notes for the quarter First is deducted
part OF the sum of So 49, or which gives the
result of ST. $50, from the Of $780, 426 and
having thus much reduced the ayas of the Treasury notes.
il again deducted from those ava thus reduced Instead
OF being deducted from the avas of Treasury notes. should
have been deducted from the Of s., 3d. and
much reduced the amount to be snbtracted from the
ayals Of Treasury If it is claimed that the Of
January 49, lS4 authorized the issue of stock beyond the
900 TO provide Treasury issued under prior
actswhich do admtt does relieve the difficulty.
cannot but think that this is entirely wrong, and that
no such sum exists the books of the Treasury pur
ports TO be part OF the of So, 365, 329 3d. BY the
statement furnished to the Committee Public Expendi-
lures the items Of this appear and the only entry Of
Treasury notes funded under prior acts for the quarter ending
October |, ls47, is the sum Of s22,47s.
and 8. The two of S2s, 1884, 227 As and $685. To-,
$685. on account Of these and those previously point
ed gu, are of course far from the true amounts.
TO- "Dednct also the amount of Treasury notes issued
der acts of 1916 and ls47 which the hands of the
by warrants, but which notes. when covered will make the
charge against the Treasury equal the notes converted into
stock or received for public dues 81, 40l, 9o0."
III right in the positions which have been taken in re-
aton to he previous entries n this statement the inevitable
conclusion that this last amount purely fictitious, given
entirely at random, and to force balance. If this be it
destroys all confidence in the statements Of the Treasury De-
pamen and shows not only confusion but recklesness 1t
IS very serious matter, indeed, it, when purportng to fur
nish officially statement Of facts actually appearing
nishes at random, and without knowledge or examination the
figures necessary TO balance his am by
that understand the explanation Of the Secretary Of the
Treasury, or Register, If he the responsible person but
do the explanation sought to be given in way relieves
the difficulty and if there any such sumthe error would
not be obviated at ALL
ii, -, l3 The then remaining Of s26 Ia, 70545
S. S5 29465 and S33 0OO 0O0 being the results Of the
previous erroneous caculson of themselves
grossly wrong. The sum Of S. as5 2s445 as the
amount Of Treasury available for the remainder OF the
fiscal ending June 80, ls4s and the full amount Of
not the true result Of The previous figures IN
this statement OF the Register Of the Treasury.
have thus shown that the whole Of this statement of the
Register wrong, and that there soundness whatever in
il; that scarcely individual entry Of the thirteen is
right but they very far from the truth, provided the
cent statements furnished the Treasury Department
correct,
In the Of this investigation have thus sustained the
positions assumed by in my former speech except so far
have shown that the tables themselves connected with the
report Of the Secretary Of the Treasury wrong. On The
basis Of that report position then assumed has been
cesuy assaled but oil are suppose fully vndca,ed.
have not time patience to give full detail Of numerous
other errors pointed out by my honorable friend from Penn
sylvana derived from the books and officers at the Depart
ment will content myself and relieve the House from
these dry details with giving the results as they exhibited
by his very full and precise Of the points
The discrepancies shown by bringing down the
70 the Isl December s4T in relation these Treasury
issued under the acts Of 1916 and s47 follows
As to the amount Of stock issued under the of July,
1885, the report Of the Secretary and the statement Of the
committee differ sll5,20
As to The stock issued under the of January 81 ls4
s., 050,452.
As TO the outstanding, under the act Of 1916, the
si7s, 5O and, under the Ols47 81 43 400
As 70 the OF and loan available at the Trea-
sny December lsi7, under the act Of 1885, $685. $780,
and under the act ofls47, S3s6,950.
There is only Of the propositions taken by me in my
former speech which remains to be briefly noticed
81 That the Of the amount OF public debt and
interest paid during the year ending December s47, is
more than 000 shown BY table t. and less,
shown BY table O. than 900 for seventeen months,
bracins the period mentioned in table f."
This discrepancy is admitted but attempt made
plain IT, isa prscca and interesting question how much
Of public debt has been paid during the year woud
70 be easy question The head Of the Treasury
Department has undertaken answer In place he says
that IN twelve months il Sl0 4s0362 Ia, and In another
place That 1t but s9043,5ll 35 for seventeen months
including the twelve months In other WORDS that the
amount paid in the whole months l0306
less than in thrce-quarters Of that time.
ask sir does the Secretary know himself how much Of
The public debt paid during the times mentioned So
i TO insult deceive Congress that such statement is
sent TO US For my part do suppose that the Sec
rotary bad any idea whatever the subject otherwise how
could 50 monstrous mistake have been committed Is i
true that the hooks in the Department in so vicious ys
tenn or 50 badly kept tina, point like this they contradict
zach other and the Secretary knows little about the whole
matter that MOI knowing what Is right he sends in both, and
leaves Congress to guess for themselves II he cannot tell
how much we have paid during the year. does he know how
much we owe with any certainty accuracy Has be any
better means Of knowing the received into paid out
Of the Treasury for any other purpose Can be tell the
amount IN the Treasury should hv night