Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-06-03
Treasurer, DR..
To avails Of Treaty Dolls.
notes. .......... 1000, 600
To avails of Treaty
received. ....... 600, 900

from the second part of the statement il equally clear that
the Treasurer would be indebted the Government in the
sum of $780, 900; and if both together
the aggregate win be increased but the actual ba
lance will remain the In this way by the ressuing
Treasury notes. the accounts of the Treasury may be swed
to large amount though the actual Indebtedness of the Go
vernment VIII not be augmented dollar beyond the org
nal limit of the Treasury issues But suppose the Trea-
had issued stock fund the $500 900 which he stands
indebted to the Government, how would the stand
then That operation would not diminish his liability dis
charge any part Of the debit would increase the liability
of the Government Hence it manifest that if you charge
him with the amount OF stock thus issued fund Treasury
notes, avas accrung to the benefit of the Treasury you
must give him credit for the amount of Treasury notes
reimbursed otherwise you do him injustice, and exhibit
fictitious balance against him.
Another source Of difficulty and pepexy in adjusting the
Treasury accounts is found in the discrepancies in the books
of the Department kept by different clerks This arises from
the regulations adopted for asactng the business of the De-
parmen and not attributable any want of care or accu
racy the part Of the clerks When stock is issued it
first entered on the stock book must then pass through the
hands of several officers to be sanctioned approved by them
before reaches the Registers Office and entered upon his
book Some time necessarily eapses between the entering Of
the stock upon the stock book and the entering OF the record
upon the registers book Hence frequently happens that
stock issued and entered the stock book during the DAYS
of year quarter, does appear on the Registers book
until after the commencement the ensuing year quarter
This particularly the reference to stock issued for
funding treasury notes. The practice heretofore has been
that when person at Philadelphia New York held Trea-
ury for which he desired obtain stock he would de-
pote the notes with the Treasurer Of the Mint the Assist
ant Treasurer and receive from him schedule of the notes
thus deposited which schedule was 10 be transmitted TO the
Treasury Department The Treasurer of the Mint or the As
san Treasurer Gas the may be) would embrace some
convenient opportunity probably the day. send those
notes to the Department. and upon receiving them there the
stock was issued in the of the depoor and entered
the stock book The schedule which the depostor received
from the Treasurer of the Mint Assistant Treasurer might
not be returned to the Department under two or three weeks
and the transaction would not be closed and the final entry
IL al. D.. -. III ~. =
and had been examined AMI approved of by the proper Off
that several weeks may and do eapse
tween the dates of the entries Of the same stock on the differ
ent books of the Department.
The committee informed that different practice has
recently been adopted he Treasury Department. and no
stock for funding Treasury issued or entered on
OF the books of the Department until the notes received
from the Assistant Treasurer Treasurer of the Mint and
the schedule for those received from the depositor
and warrant issued from the Secretary of the Treasury
such issue Of stock. This regulation will obviae the difficult
ties above alluded to in future.
One other of difficulty in comparing the various
ments made by the Secretary of the Treasury with of
testing the accuracy of the general statements found
fact that those statements made embrace many differ
ent periods of time comprising the fiscal commenc-
ing on The LIST oil July and terminating the 30h of June
following others comprising the calendar year from the LIST Of
January to the last Of December others on the LIST
Of December and end on the Of November following whilst
at least begins in January and ends in November
prisng period Of eleven months.
The general statement in the Secrearys report embraces
period Of three years. from July ls 1896 June 30h ls49
but the amounts relating the last OF those years being
POSED entirely Of estimates the committee orbear making any
remarks in reference that and conne their observations to
the accounts OF the two fiscal years. commencing with the LIST
of july 1916, and terminating with the 3Oh of June 1913
and the transactions the Treasury during those two
embrace all the issues reissues and funding Treasury
well the stock issued for specie deposited under the acts
Of July 3d. 1916, and January 2sh, ls47, the committee
have in the statement herewith submitted included oil the
counts for those two years statement keeping them
however, distinct that they easily be separated and the
transactions of each year be accurately asceraned without
difficulty.
Before submitting their own statement the committee beg
leave to make few remarks upon what appears the
mittee to be ncongutes in the report made the Secretary
and which have led erroneous results in his calculations
On the first page OF the secreays report find the fol-
lowing item
From avails OF Treasury and loans Io9 as
To this amount the committee take exceptions In state
ment A, page &c. find the items which compose this sum
Of SIS, 679, 1919 as as follows
Avas of Treasury notes issued under the act
Of July %, 1916, after deducting 81, 93I 900,
which we're funded under the act Of January
~, 1S7. IS sos, 800 90
Avsis of Treasury issued under act of.
January 2S, sF after deductng 81, 90, $50
which funded under the said act IL I49 500 90
Ava OF loan under the Of July o. 1896. SSsi4o as
Ayais OF loan under the act Of January %,
Is47, after deducting s4O,35o, which
funoed 4f34,950 90
sq5,679, 1919 As
The first three items the committee admit to be correct
provided the amount stated to be unded correct of which
they will have something TO say hereafer.)
The third item substantially correct reference to the
stock books will show, and the Of stock issued for
specie deposited under the act and during the time referred
The fourth item is in the language Of the third
ce that refers TO another act and has the additional words
|" after deducting $40, $50, which funded"
The natural inference would be that, the words
were used the idea be conveyed and that this
fourth item composed Of the stock that issued for
specie deposited under the act of January 49, s47 and du-
ring the fiscal ending June 80 S47 with the deduction
oil S4O $50 for which the committee unable TO discover
any reason But examination Of the stock book III
appears that under that and during PERIOD the whole
amount OF stock issued upon loan for specie deposited was
200 leaving balance Of s2sll $50 Of the fourth
item to be accounted for In other way As the commit
tee had no data by which they could ascertain from whence
this sum was derived, application made the Depart
ment and they informed that the fourth item was com
posed Of the following sums
Treasury notes per act Of July %, 1916, funded
to June 30, ls47 ...................S 81, $50, 800
Treasury notes per act Of January 49, ls47 do $50
Ditto per acts prior to July ~ 1916, do 36,250
Money deposited for Stock under loan Of 2sth
January, ls47, to June 80, ls47. ....... 1923 200
s4,l75, 300
Deduct .................. 40, $50
Leaving the precise amount stated in the fourth
Hem. OBSERVATION-DISCLOSURES. "a, 1874, $50
This in principle correct although very obscurely stated
in the report Of the Secretary for, the amount said to be
al