Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-03-18

facoy explained In the first place. the Secretary of the
Treasury in his annual report the finances page 49,
gave the amount paid Of the public debt during
the last fiscal year at So. 522, 0s2 81 at page 81 he
gave the amount OF the public debt paid during the same
period at So 72202l 80 and he Register in his statement
gave the amount at So 2S2 SO that here three
statements Of the same thing emanang from the same De-
pament all different in amount and covering precisely the
period Now, there might be explanation Of IT,
Perhaps the gentleman from North Carolina could give
explanation lie hoped there nothing wrong Tor the
sake of the Secretary and he hoped for the sake Of the
country for, if common fame did not do the Secretary rus
ce heewas nothing in hspas history his present pccunia
ny condition that in case Of wrong would give to the coun
try the slightest promise Of indemnify for the past " Sc
curly for the future"
Again, the Secretary page 40 Of his report gave the
amount paid on account Of the public debt from December
1896 TO December j. lSf7, at AGO. 1862 a. This was
for the twelve months end ng December lS47. Now at
page 81 Of the report he gave the amount paid the
account for the months ending the
day 926 0S, making the amount paid for seventeen
months than million less than the amount paid in
twelve out of those seventeen months.
This matter which to him appeared TO require
recton and he desired to have report that should be
ineligible in ITSELF full statement Of the condition of
finances in such manner that every member OF Congress,
whether he had been here before not could obtain from
something like accurate idea of the condition OF the finances
Of the country.
In reference the suggestion of Mr. MCKAY that the sub
jec OF this amendment appropriate for resou
ton he said he apprehended should be introduced into
bill by OF amendment, else be made the subject Of
separate bill that not only the 1s of July next, but
annually thereafter, full statement of the condition of the
Treasury and of the trust funds should be made to Congress
as contemplated by his amendment.
Why should they for the purpose of determining the
amount Of trust funds held by the Government be compelled
the report of the Commissioner Of Indian Affairs
document which printed sent out to the people in
connexon with the report Of the Secretary of the Treasury
the finances But if they looked that document struck
him that the result would be equally unsatisfactory The
gentleman from North Carolina had told him he should find
tho haI
here of the stocks held Of the Indi
ans and he thought this statement would Of itself show the
necessity Of having annual report from those officers who
held moneys in trust for the benefit of Indian tribes Why
there any court Of equity in this Union which did not
que annually report Of every trustee holding funds under
its ORDERS of the condition Of the funds and Of the receipts
and expenditures during the year And should Congress-
who stood here the guardians of the Indian tribes require
less from officers who held these funds for the bene
fit of the Indians and for whose acts the United States
ought to be responsible In running this account of
stocks held by the Government he perceived that here
stocks of the State Of Alabama held for the Cheokees the
$500 900 in single item, for which the trustee
of these Indians seemed have paid the par value He did
not know how might have been at the time when this in
vesmen made, but he well satisfied that these
stocks would bring nothing like their par value.
There also investment to large amount in Indian
stocks, for which premium had been paid. These stocks
had been sold during the last year for hryve cents the
dollar These and other statements contained in these
ports showed the necessity Of full annual statement of these
different trusts
But again. the gentleman from North Carolina as he I'M
derood him, said that he would find in hs report of the
Commissioner OF Indian Affairs statement OF the whole
amount Of moneys the Treasury of trust funds
Mr. MCKAY (Mr, H. yie'dng) explained that he had said
the gentleman would find the amount held by the Government
in trust He did not say the moneys were in the Treasury
Mr. HALL (resuning) said that was one object which he
had in view offering his amendment that the House might
the amount in the Treasury well that held by officers
Here statement showing the amount provided for by
Indian treaties which be considered in the Treasury
and for which the Government paying five six per cent
interest," to be some S. 273 O00 Now he would like to in
quire of the gentleman from North Carolina if this not
properly portion Of public debt If did not owe
this amount 10 these Indian tribes and which were
paying interest under law making permanent appropriations
Mr.. MCKAY (Mr. II. yieldng) said he had stated yes
teday that the report Of tho Commissioner Of Indian Affairs
showed the held by the Government trust for the
Indian tribes which had been invested With regard to that
which not invested, which five millions and over, OF
the Government paid the interest upon it. and there
doubt but ii formed part Of the public debt Of the
country He had also stated that upon referring the In
dian appropriation bills the gentleman would see that large
appropriated expressly for the purpose Of meeting
the interest upon these several For instance, the Gov
treaty with Indian tribes which agreed
pay hundred and fifty three hundred thousand dollars
and promised TO invest it but instead Of investing it, paid
the interest The money not in the Treasury but the
Government was debtor TO that amount.
Mr.. HALL said that was what he supposed. He would
like further inquire whether this ,273 900 included
IN the amount oil pubic eAlsung on
stated in the report OF the Secretary Of the Treasury
page A
Mr.. MCKAY replied that ii not included. It did not
form portion Of what called the public debt
Mr.. HALL (esuming) said he had been led to suppose
that included in the Secrearys but it
was the gentleman from North Carolina admitted, and as
must be very evident to every gentleman OF the first glance
part Of the public debt Why then it stated This
item added over S5,O00,000 to the amount of the
debt Of the United Saes stated by the Secretary Of the
Treasury.
In conclusion he remarked that he had intended for
OCCASION have gone through with examination Of
these reports Of the Secretary of the Treasury and the Register
and shown the discrepancies which existed between he
and asked from gentlemen the other side explanation
in regard them. But he felt IL would be Of place now
when the simple question before the committee upon the
amendment which he had offered He hoped this amendment
would be adopted else that this BILL with the amendment
he proposed, would be referred back the Committee OF
Ways and Means that they might report suitable
provision that would bring before the House from the Secretary
Of the Treasury clear distinct ineligible statements, annually
of the condition of the Treasury and of the finances Of the
country.
Mr. TOOMBS wished to say word in reply to the gen.
ieman from New York. Very many Of the objects which
that gentleman sought exceedingly proper but they
proper here He admitted with the gentleman that there
very great difficulty in UNDERSTANDING from the way in
which the given by the Secretary Of the Trea
suy. the financial condition OF the country but gentlemen
ought be asonshed at that for he believed the Secretary
Of the Treasury did understand himself We had found
him correcting his reports by Millions and doubt he would
have correct further before Congress adjourned
But this bill sought important object and he thought