The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-03-15

sharp Letter from omptroller Clarke TO
the Secretary OF the Treasury-Who Il
the Chief OF tho Treasury Department,


sharp Letter from Com ptroller Clarke 10
the Secretary OF the Treasury-Who IL
the Chief OF tho Treasury Department.,
TREASURY DEPARTMENT
OFFICE OF THE CoMPRoILKR THE CURRENoY,
WASHINGTON, March 10, 1864
DEAR sn-Your letter OF yesterday Is received.
Ny letter Of the oath ut in answer to yours of tn,
date, altered before 1t published as not
TO indicate the person to whom addressed and had
other object and think had no other effect than 70
simply express my objections 10 your Loan BILL do
not see any improperly In my giving publicity 10 my
dissent from your viows Of public financial policy In
accepting the Office hold did not surrender my indie
pendence Of judgment nor my freedom of action I
have made no concealment from you any else d
my views In regard 70 the bill from the time was rs
proposed by you.
After lapse OF twelve days you notice my letter Il
you Of the 2Ath Of February, and quote my statement
therein, that 81 suppose there must DO at that time in
Guiding deposits in national banks at least hundred
and my millions Of dollars in the Treasury the United
ssaiss" To this you now reply that the actual amount
Of money the oath In the Treasury and In national
repositories 70 the credit Of the government exclusive
OF special gold deposit, was Sill, 14s. $50 20.
sinction between gold deposits and deposits made in cur
rency Both alike stated In your monthly reports
liabilities and assets and you have tho right BY law to
use portion OF the gold as you can safely but
portion Of tho currency deposits because you must DO
prepared by having hand TO respond tho
calls of depostora In this view OF the there
why should not add gold deposits the
Sill 632 20 The special gold deposit appears by
your statement OF the first day OF this month"; was
e12 627 600 This added tho amount that you state
was In the Treasury; &o on the oath Of February will
Giving you the benefit as have of gold deposits swell.
ing the aggregate OF money on hand, now unhesitat-
nsy state that your statement just made to me, well
as your published statement showing the condition Of
the Treas and tho public debt the first of this
n on,b, Is inexcusably erroneous.
You state the amount Of coin In the Treasury to
500 .36i9 "
Currency...-.. 90 2S2,70I II
Your monthly statement made the frst Of this month,
shows thai you have retired So 466 $50 Of compound
interest and United States legal tender notes This
amount must have been paid before the date OF my
letter, and there Is no law authorizing you
any OF the compound interest notes In any other
than by converting them into five twenty bonds and
law authorizing the retirement OF any of the United
States legal tender any other way than BY con.
vcrtng them compound interest notes, and no ap-
preparation or provision made by Congress other than
that now mentioned, cannot understand why these
compound interest and United States notes should not
be counted and included currency hand. You
have Just much right To reissue them pay out
10 cancel them.
1t also appears by your last monthly statement that
have sold during tho month, without any authority
OF law s10872 Of ve-twenty bonds and purchased
Sill 900 OF seven thirty notes. making purchase
81, 2s3 200 more than your sale This sum should also
be included money hand will remark in passing,
that while you have tho right to convert thirty
notes into vetwenty bonds the former mature, you
have no night whatever 10 buy or sell them.
You have omitted entirely from your statement Of the
LIST OF March, you have un formily omitted from
your monthly statements for several months past the
Of money deposit in the national banks. The
held the Oath o. February the date of my
letter. must have been about S8 0O0 000 Taking there
FORE the amount stated BY you hand the 1st OF
March in coin and currency SIG oIS, $50 "a
Add tho amount OF United States and
compound interest notes retired 6,466, $50 90
Also add 20 no;es purchased over the
amount OF 8 20 bonds sold. ,..... 283, 600 90
Ard also amount deposit In national
banks 5000 900 90
You must have had . total actual amount
on hand Of slsi. 7ss, e44 "a
Add to this the premium the balance
Of the coin on hand, after deduc'ing the
amount OF To be returned TO de-
positors, sa, Observation-Disclosures. 1900 900 90
Making the total currency value Of
money in your custody on the LIST OF
March last ACKNOWLEDGEMENTS. 1885, 78s 944 "a
This Is manifest from your own showing In your pub