, 1866-03-23
rreasurer Spinner in Defence OF Secre-
IaFT MCCullOcls

IAFf VCCuu0CHs
The following important letter from General
spinner in cetcnee Of secrets1 Mccnlfoch was
drawn out by Freeman clsske's letter:
TREASURY or TUE UNITED STATES,
WASHINGTON, March ", 1865.
To the Editor Of the ChroniC1e:-
TIE communication OF tho Hou- Freeman Ctafke,
tomptrolter Q: the Currency u 5esatd TO The con,
yteleIdAy. u OF such charetter thai considef It
i duty owe 70 The country, to mgself md etpec.
tatly 10 the scercta1y Of he 1!easpry. Who must az
INTO which mo Comptroller has fallen.
lpass tie nr,t paragraph IN the commun,easlon, 10
intcpo.atnd IN quotation, without comment, fur
ther ihan note The tact+ The pexttwo paragraphs
find fault with The Hon. Vt. Hooper aud lss sub
il ta,led 10 make application To the Comptroller IN
t:e >earch for Information and an opinion l. ven
tuFa3 that the ftpurt nsde to the aoase BY tue
Committee u neither more not lcss than hasty,
uuconstd.led tndorr eMeut Of tho s'aterents ofths
:,ecren1J Of the Treasury; and IN tutimstfon Is
thrown cut tbat. II any tnto1maston "a.
Nov, / hare TINS 10 sa!--slat The. Committee aid
tu*t Nhat the Coup!rntltt should have done before
be called The statements OF the Secretary Of tbs
,5s M ~ g. esRs sn y I'D
came 10 the conclusion that The Comptroller would
have reached bad hs, Ike the Committee, Eone TO
the only place whsre ne intorTatlm m :o1:ht could
would tasc been tati.ned that the published state-
nents Of the Secretary were substantially correct
Next, The hsares OF the Tzeasu5y statement are
ing II the statement: Amount on deposit tl coin,
75s70,675.15 Total Auount on dcpoHt, 2fd5, ,579,.
psst' 9,sEn y. ogt aa b.. r.: gst
dlai. us, So, ,acs11 A. this, TIE mr.. Item cx-
copied, is part Of the Iteakarsrf moathiy ale
nut. ii IL alleged !. is, a ihe sllegs'ions and
IT. in the rational banks arc entered weekly as shc
f1e'ase' ne'nasa IN 'nq The 'eh eessh ,he T.aiy a9
I'd tn sss ass.S sTfsn s9Rs fe5a
shc tact that the banks are coansed weekly With
The amounts deposited With them BY resenue Off.
cers snd oshsss ana arc e.sa,ed dall *ita wna1.
that the amount due the Goyeremen according to
The books Of The banks, will didsr materially from
The balances according 10 The books Of the DeoHt'
Incnt. For instance, the Treasurer may draw 70
daS On the different uepoalt banks for twenty NIL
lion dosr.; the banks ntl, Of course. be CREDITED
With tho amount. Of the checks drawn npon taen1
neni nntil The checks are presented, which naay
not be for days Or weeks after.
No ono ought to have known better than ths
mag, according to Its OVID books. oserursw tts cor
respondent in a commercial att, whtlet by reahoI
Is is eas On H. hooE. 'T s
dent During the subscription to the seyen. .thirt,
loau very heavy deposits were made with the ns
de h'els eean asata ct t5e ~
we1r ihe b.hnes. and 70 distant T wer
msny Of the bankF. tha: 1t sas uudouh1edl
lection from twenty 10 forty millions Of dollsss
credited TO The banks, by rcasou OF teng draw
aEainst> hut not charged BY the osnka to ,he Gov
eminent until The checks were actually paid. Their
have becn- IN the cou.ee Of the year, raany delay
tn which the balnuees due the Government by ID
deposit banks. according TO- ther hooks, hare bec
ances according to the books Of ths Tre4sary.
TO Aho,E how 3allac,ous conclusiope drawn oal
from the se!nras yuadc by deposit nationa! banks
the Comptroller oi The currency ase, It is onl
necessary 10 give one OF The statements in his CON
iupnication. w: The manttly statement made II
10 The l*s Of juno Fhors that there YES that day
ne Treasury. i1e!adtnE & con, ,I5 Sns,a& ~ wnli
| In tho national banks. At thlt TINE there wcr
| drafts and orders Issued upon these banks for 4
a1nount e1eee:dng th1r.y.three million dollars.
! the rarutfea BURNERS OF the Tfessnry Dtpastmet
hist It 70 impossible for any one sho does not q
anime The books Of tho Department to aEcertal
| amounts deposited IN The ynrious Offices to III
credit Of Disturbing od1cr1s arc 20 lsrxc that
ollen occurred during the war thst the Treasury a
| count proper Mhk oYers1rawn from twenty to thIrt
I mfllInn dollars, and by nhlch several millions
dollars interest WIS saEed to the Government ar
people. "
by the Comptroller Of the currency arises nom Il
fact thai the Assistant 1Te.euret~ arc charged nit
.he amount Of coins certificates Issued By then
on the books OF The department tor my snch Kol
certificates that m!y BY either OF ihem be
deemed until Reimbursement may be made
warrant: In The meantime az s9ea redeem.
| gold cash items. In The statement o. COLI o. hsf
made up for the Secretary the AMOUNT Of gold C
tlnca,es redeemed ae asdurted daily. 70 ~ T. ehS
E1f 3tff RI cnin referred fn afe cef1fcAffE issue