New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-02-05
Postscript,

This Essay. with the exception Of the estimates
for the years ending respectively, the Both Of June
ls4s and ls49, and of some verbal alterations was
written within the month of December. It's publica-
ton was postponed in the hope II obtaining more
Correct information, respecting the estimates OF he
ceipts and Expenditures contained IN the second
section Of the Essay ! wanted specially copies Of
the Tables A and therein alluded 70. II has nov
been printed and it is only this day, that have
received the copy ofthe annual Report OF the Secrc
tary Of the Treasury. the state Of the Finances,
addressed TO the House OF Representatives. From
this have extracted the substance of the Tables In
question which will explain, in that respect the
DEFICIENCIES In the text.
In the meanwhile an incident has taken place,
which would seem 10 derange all the calculations
made respecting the amount OF the loan wanted at
this time, which founded on the Repor, Of the
Seer stary of the Treasury TO the Senate. We are
now informed, that there was an omission in that
Report of four items. amounting together TO 60
els O7s, the Receipts for Treasury Notes and
Loans. which had been disposed of during the
quarter ending Sept 90 1917. Whence the Acting
Secretary Of the Treasury concluded that loan OF
only eleven or twelve millions Of dollars would be
wanted.
1t appeared extraordinary, that the Secretary OF
the Treasury. who was indeed seriously indispOsed
at the time Of bis r eport, should. an aggregate
of 500 O0O 900 Of Notes and Loans authorized by
aw end himself near seven millions richer than
nc Thought.
In his Report aforesaid, he reckons, smors
the receipts, forfhe rscal year ending Joue
80, 1877, the following sum, from svsils Of ..
Treasury Notes and Loans >zoofsiss :,
And he states, az the still available amount
from Treasury Notes and Loans on let Dc
tober, 1917, the b157.fl p
Together s5Is6f4lf %
II 20 this be added the four items of... 6e50I8 %
rha total vvopld snoupt $50 1892 90
or near ak millions more than authorized BY which
10 impossible
This must be explained But until the exps-
nation shall have been siven II Is very clear that
the sum of S5,s79 572 being the excess OF the aP-
parent receipts and amount still available from
Treasury Notes and Loans beyond the amount
authorized by law must be carried 10 the other
side Of the account.
IT, therefore adopting all the other siatepent' and est
mate. Of Receipts Expenditures given by the Sec
retsry Of the Treasury his original report he credited
with the four omitted items, amou nting together
he must, 90 the other hand be deti,ed with the
excess aforesaid, amounting $3.50 81
Making difference 10 his favor of.......s O3s sos
So that it would appear tina. the loan wanted.
instead Of being reduced nearly seven millions be
low the original estimate, would be only lessened
little more than one million. i Am very Tar from
saying that this is the fact but only that Il Is the
apparent result until the subject shall have been
investi gated and explained
IL appears also, TO me. that there is among the
various documents appendedto the Report, a want
larry in the words redeemed and reimbursed.
The Secretary Of the Treasury is permitted TO
reissue notes, only ia lieu OF those which have been
actually redeemed and reimbursed. And these
terms DO not at all include the amount Of notes
which have been converted into stock since il is
most expressly provided that the aggregate
amount of Treasury Notes aud Stock shall never
exceed the sum of thirty three millions Of dollars.
There are but three descriptions Of notes that
actually paid and reimbursed, and in lieu of which
the Secretary has right 10 reissue new notes lst
such az may have been purchased by the Secretary,
and the Acting Secretary, In his Report OF Dec.
70, ls47 10 the Senate. states that have been
| thus purchased. ID, those which may have been
paid in payment Of duties taxes and other debts
the United States Sd. those which, coming 10 ma
turity, are actually paid and reimbursed. OF this
last class there can as yet be but few that have al
ready become payable, since none were issued
l payable at a shorter date than one year and the
/ first law authorizing the issue was passed on the
/ ped July. 1916
| do not therefore, understand what is meant in
the Table A by the following item
REDEEM ption oTrsSsuryNoies deducting s 200 which
funded under the Act OF Jan g En- = IS Ss7 u
| Nor In Table the item
Redemption Of Treasury Notes and Interest 80 oi
There have been no such amounts OF Treasury
Notes paid in payment Of duties and debts to the
| United States or which have come 10 maturity
and been paid of.
The same remark applies TO some other state
meuts, such as that NJ of Reimbursements OF
Treasury Notes from December l, 1916 20 Deem
Der /, ls+7. amounting together 10 sS,97l,79l Go.
In all those cases IL Is clear that Treasury Notes
are included which have not been reimbursed, but
I converted into stock.
On the other hand, the Register Of the Treasury
has. in the statements OF the Public Debt II and
Of the amount available on lst Dec 1871, a.
given very persplcuous and satisfactory state
of the situation. on the lst Dec. ls47. Of the
thirty.tsree millions Of Treasury Notes and Debts
authorized by law.
Loans Of ls46..................s4ss sl49 IS
I Loans Of lss7...-.............. 9,i7o,172 %
- sl4I72sH IS
Outstandiuf Treas Notssoffs.s s3s4Tsg