Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1848-01-27
"ERRORS EXCEPTFDo

"ERRORS EXCEPTED.
We do no; know that it is the practice of,h
rs OF the Treasury the clerky prec,nl,.a, =,
ding az. f." to his annual exp sltlan Of III. st.,o
ioanccs. 1t is certainly very necessary ,aal ,a..,a
ton OF the kind should be made. II has ln,l hoo, n
covered tha error, in the rhng sum Of alb i SFyFx
| MILLIONS of dollars, made in the las. ,o,,,, :
the Secretary Mr.. Bafcay.a clerk in the Den,t,m..,
is ol nalurcd enough To take all The blame upon h..
self, aud the Union devolcs long article To The s,,,,
in which it is held 10 he "nacr oil sincere convt,,l.
ton that every ptecauon used b, the Seere,,,,
that the omission in the nn.ll statement wa, ,nol,,
in the tabIs accompanying the report. and that the sun,
thus omitted places the treasury in much nor f,,
bic ston an gives it more than WIS SUNNI NJ
by the ardent friends ul the Administrator H..
is really singular matter upon which call Tor c1n.,
tulat II. In the financial statement, which pr,cqd.
the rep TT. there omission Of item of s59l50,S
contained in table b. referred To and making Tar of ,l
report. That the mistake wasno 50 vtrympable.
evident from the fact that one in OF out u ,nurs,
discovered it, The Secretary did not ob ,rye II. aud y.
may infer his general knowledge Of the STATE Of The f.
nance> when large omission The credit side ole
ledger did excite the least suspicion lis af3r--
mems and calculations based upon the cerrelotsd
more than what alleged To be the actual one WAS H.,
matter " hch arrested Mr Walkers attention. NJ
Barclay, in his letter to Mr.. Walker announcing the d,
covcry Of The omlsSiun says ri had been made le
estimated means for the fiscal year ending 30th Jun
S4S, would have been increa ed by that amount. AMI
would qurny reduce the estimated excess Of
pendtures the the Isl July. 1878, from,
The Of 572olli u to the sum Of S. Sl4 o36 y
and ala, the ca nllpI Of
means the LIST Of July, 1919 from Tho sum Of $50,
PA 90 90 To the SUN OF SO ,35s 81 %.
Let Us give the Secretary the benefit of this
,ion and thea enquire the accuracy o his calcnla
ions and estimates pu, forth in the rport Of December
> the OH lSl6. We shall convict Inn oi miscaleua
TONS which his own, and Of which M colnp lsant
subordinate can be found shoulder the responsibility.
In hl. report before the last the Secretary IN his "hna
cal "sets forth The OF expenditure,
means Isl July, 1913, at 5 o,56os,26 81 He zoe,
ON show that, consequence OF outstanding teasuf
notes. this amount snoud be sweed 10 nineteen m.
lions If dollars, which Mlll cover all expenditures, IL
cludin. that Of the if continued up 10 that dle'
lie then shows that ll re should always be haance
.~o...Il il, .e least four Millions
n treasury He therefore asks loan Of twenty three
II lions, unless the was ingmen ed by dut,
Well. Congress granted him. in The shape If loans ana
treasury NOES, several nlpHS tiin ne asked
of urse there should be- if any reliance be placed
ON his estimates, considerable III the treasury
the lst July. 1913, instead Of deficiency of $l5,1,
II u he reports i'll his last .whlcls
reduced, by the spoken OF, ssh 1886 81 But
ts excess Of expenditures over means is Increased ~
0 more han two millions. The Secretary added in his
port OF $40 Us we have seen, four mors-a bal1co
which he thinks should always be kept in the treasury
tia ,,.f. I,- E
lions. But in his last report. find the balance
d treasury the lst July, 1917 only Sl10l Pol 30
What confidence can be placed in The capacity
cery ola Secretary Of the Treasury, who in Decemb,
, 1916 could show hy an eab that tweny
three million. OF doIlason addition the ordinary
sources If the country, were wanng, not merely d.
fray all expensrs-incudng those Of the war-ba 10
keep balance Of four millions in the treasury VA
in DE- cember, lS47, could with great coolness rrph
that there would be, notwithstanding the loans, great
er amount than asked forgiven by Congress deficit on
the said LIST July of Sl5,729.lll q, or as since
reced, Of something less than nine millions Enough
has transprcd to induce the impression that the first
mentioned sum- even will the defect. when all
the bills fJo;ed The omission of Mr. Barclay was
not necessary TO destroy confidence in Mr. Walkers re-
ports Mr. Stewart has exp1sed the flllacousneSs Of the
last, and we beg any on, who wishes to form his own
oplnon to read and compare the reports of 'i6 and Al
and reconcile them, if he can with each other VI
the Idea of their authors honesty Of purpose and acq'n
lance with the duties Of his high station, know ledge
ot financial matters in general The age OF any manu-
featuring or other Incorporated company. who would IA
gully OF such plumbers and Observation-Disclosures il statements
laid before the stockholders ouId be promptly dismissed
as incompetent or dish NEST.
Let ii be borne IN mind that Mr. Walker in 1916, SAD
that loan of 23 millions would pay all expenses up
LIST July, lSiS-that Congress gave him more than h'
asked by several millions and that the receipts from Gus
toms exceeded his estimates very largely and that not
"Its'and'ng, he had apply for loan of millions "
meet the deficiency estimated the said LIST july
lhe committee have reprcd bill for loan Of eighteen
millions. We suppose the House will deduct the amount
Of The discovered and reduce the loan 10 about /!
| millions.
We confess The excessive rains taken BY the Unlln
and the acting :, cr'ary. Mr. Young. to cxcuIpate Nj
Walker from all blame, induces suspicious which We
should not but for this, have cherished
cj- Our readers that friends of the northern
route, Tor the extension If the Louisa Rail Road were
satisfied with he f Enpnref