Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-03-16

of February, the date of my letter, must
have been about $2S,000000. Taking,
therefore, the amount stated by you as on
hand on the lst of March in coin and cur
rency, $1l6,01S, ,959.2i; add the amount of
United States and compound interest notes
retired, $6,466, $50, and seven-thirty notes
purchased over the amount OF fye-twenty
bonds sold, 1888 300, and also the amount
of deposit in National banks, $2S,OO0,OOO,
you must have had a total amount on hand
Of Sl51, ,76S, ,944.24. Add to this the pre-
minm on the balance of coin on hand after
deducting the amount of coin to be return
ed to depositors, say $l5,0000OO, making a
total currency value Of money in yOnr GUS
tody on the 1st of March, $lG6, ,944'2i.--
This is manifest from your own showing in
your published statement of March l, ex-
cepting the item of deposit In National
banks. The report of the banks will show
that nave not overstated the amount OF
these deposits. will now state the amount
of money that suppose was in the Treas
ury and on depositi in the banks as per my
letter of the Nth of February, deriving my
knowledge from other sources than exhlo-
its from your department. The regular re-
port of the Assistant Treasurer In New
York, published within three or four days
after the date of my letter, shows that the
amount of money on hand in his once aC
that time was over $l09,0O0,OOO. 1t IS falr
to add to this amount the compound inter-
est and United States notes said to have
been returned, as they must have been paid
for before that date-$G, ,446,S50.
estimate the amount in the Treasury in
Washington, and in the hands of the Assls-
tant Treasurers in Baltimore, Phila-
delphia, Boston, in the Pacific States
and the eleven Southern States, and i'll the
various repositories in other States, and
in banks, at the very moderate sum of$l2,-
100000. The currency value OF the gold
over its reported value, $lO,OO0,OOO; total,
Sl7O,4 O,46GS50. 1t seems to me to be apparent
that this amount, which | suppose to be
available in the Treasury on the 9th OF
February, is far short of the reality, and
exceeds what you declared it to be in your
last monthly statement by more than So4,-
100000. | will add that l can show to the
satisfaction of any one that neither of your
monthly reports for the last four months
have shown within $50,000000 of the
amount of money in the Treasury or on de-
posit in National repositories.
An accurate statement of the condition
of the Treasury, is not merely matter
interest to the public, but it is of grave
consequence that Congress should be cor
rectly informed as to the actual resource
Of the Government, that it may legislate in
tellgently and appropriate wisely. ! will
call your attention to another matter: IL
your annual report you state that you will
probably require $ll2,000,OOO more thai
your current receipts to carry you through
the remainder of the present fiscal year.
regret to differ from you so widely as L d.
in regard to this estimate. l am of opin
ion that with an economical administra
tion of your resources you will have a sur
plus on hand at the close of the fiscal yea
ending June 30, 1866, of nearly or fully $40
100000, instead of being short $ll200O,O0u
The difference between my estimate an
yours is more than enough for the legiti
mate requirements of the Government fC
the entire next fiscal year, commencing til
lst of July next. 1t is only from a sens
of duty that have gone into this discus
sion, to which you have invited me, and a
there are various and contradictory state
ments in regard to the difference betwee
our views and estimates, L feel that no harl
will be done, and indeed that it is proper
make public this letter. l. | have erred
any of my statements or estimates, | sha
be glad to correct, and to have the publ
advised of this correction.
. Very respectfully yours,
TSignedl FREEMAN CLARK.