The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-10-17
PRESIDENT LINOoLN's SALARY.

4 letter from General spinner Geinta-
ttou of "a SIander- Thc President Does
Not Receive His SALARY in GOId-aHc
Does Not Draw II f0r = KeRr-His Noble
ANA Disintercsted Patriotism 80 'rhe
country Needs the Money More than FSo
DOes'-yHis Loss On 1Eis Snlary.
WAsBINeToN, O5Obgr lj, 1854
In answer 10 a letter from New Jersey In reference
to the Charge oi Mr.. LIECOLN having drawn his
salary in gold, General SPINNER, United states Iroa-
surer, writes hC salary OF thC President i4pad ON
warrant drafts on the Treasury for the amount dle,
lese income tax. These warrants nre paid him rcgu-
la,ly, monthly Instead OF drawing ht4 money on
these drafts, he has been In the habit of leaving 1t
long time without interest, In one case MS sotry
remained Jor eleveHt mouths.
con several occasions | solicited the President 70
draw what was due him, urging that ho was losing
| largely IN interest on the amount due him lie
asked me, Who gains by my lossY On my answer
| ing, The United States he replied, TRen as u
| aces Jor tie goOd Qr The country let u femab He
| Treasury needs 10 more than d.
| Having at length satisfied the President that II
was necessary "a the closing OF my annual accounts
that the drafts on the Treasury that lac hold should
be presented aud paid, he ndor-ed and handed them
10 me. j drew Tie amount ~ United states notes,
ana placed It olus crcdit as a temporary loan, ~
five per cent. per annum, payable pnno' .'l and in
| terost in greenbacss.
'siuce then his salary has been from nme to tune
mostly invested IN Stocks OF the United States, pur-
chased az current lMtS bf Ms llenus Tor nun. Inc
interest OF these stOcksis payable IN coin, When
this interest became due | Ted 60 induce him 10
draw it. Failing n so dong the amount due him
: | was sent huu by Hon. 4. {. UNDLHWOod, judge OF
the Unied States tourt, District Of Virginia.
2 An investigation OF he transactions of the presi-
D dent connected with the receipt salary ha,
been made, from which il appears that Mr. LIS
| CoLN, from bis iorbeamnce IN collecting his duos
has Osf ut Ito.t Jour thousand dOiGrs, ant Dt ch
has crfuoHy g'cca 10 the people qj de Uiied S'tes
a JouN &. LNpEEwouD states 10 General SPINNER
TIN the early part OF last summer you desred IN,
20 ca hIic bag OF gold over 10 Mr. LINCOLN, t,
; | WhomIt belonged it being the interest due upOl
a | Government bonds. took the bag To- Mr. LIECOLN
: and delivered your message, and counted out th
! coin 10 over eight hundred dollars. isis reply wa
, ! that he was in no immediate want OF the money
aud he rrckouod the Treasury needed il more thar
he did auo therefore he wished me TO take Il bach
20 Won, thar % might be used tor the benefit OF th
| uOmtp.
"I'ou.crlug upon hi. noble example OF patriotism
aud uiselHsh devotion 10 The great cause u which
are usaged obeyed him, and, YOU remember
returned he bag with its contents 10 your custody
LLHOY luITLE, Assistant Cashier Oi the Unit ID
states, writes 20 Genera SPINNER that the FIRST in
Yestment or the President was an sixteen thousand
! two hundred dollars, seven aud thre9-euths bonds,
which Le lett IN the vault, a special deposit iu The
winter Of 1852 and held thom until July, when he
| cuuy, rcd thcm into skies.
Tie interest on the 5eYeuthlrties was Usually leit
uncoeCted nltor falling due. For instance the IN.
tere5t was sent him In coin which he returned, with
tho message that the Government needed It more
than he did On the Let OF August, a friend Of the
President came into the cashiers room with eleven
Treasury drafts due the President eaoh draft being
for months salary, making in all the preceding
eleven months salarY, or twenty-five thousand three
hundred and six dollars and sixty-5eVen cents. tor
which amount a loan certificate was given, payable
In legal tender Treasury notes, bearing Eve per cont
interest, payable In like fund
Seventeen days thereafter another deposit oil three
thousand eight hundred ana seYonly'i0ur dollars
ana seventy-thiee cents was made for him, payable
in like SAID certificates were presented tor
payment on the 18th OF July last nearly one year
alter date OF deposit, by friend OF tho President
who took therefor lawful money, aud invested the
. same in Uniied States stoeks,
| The presont investments OF the President are IN
United States stoeks, upon which interest ~ payab
| the Same as TO any private Citizen but unlike citi
zens generally. he has not heretofore had his neros
, untl long after II was duo, and then It was aiway
4 collected by some TREND OF the PreaidoRt who sal
the President would never collect It himself.
Aside from the loss Of interest 10 the President
!, his neglect 20 collect It until months afer It was du
= the snRle transaction Of loan certaoateI oOnside
4 ing hit uneOllected salary Tor one rear and the di
u ference between i've pee cent lawful money who
sr he received and cent IN Ooin which be ngl
se have received will sho1 lose Of four thousand dol
o. lars IN this one TRANSACTION.