The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-08-19
RAFRs or ApvRRFIsINe.

THE New York Journal Of Commerce
alludes, editorially, to the rumors that
something was wrong in the Treasury
Department, and to the inquiries now
I heard, not for the first time, as to
whether there has been any over-issue
of government bonds, or any defalca-
tion in any bureau. The Journal oj
Commerce states that in consequence OF
the extent to which the discussion OF
these questions had been carried, an
sx-member of Congress, under the ad-
vice and counsel of some OF the best
men in the city, addressed iudicious
letter to the Secretary. of the Treasury,
setting forth the serious character OF
the doubt, and suggesting thorough
examination of all the books and ac-
Counts OF the Department necessary to
a complete vindication of its integrity,
under the supervision of a committee
representing the leading financial In
terests of New York. This letter may
have been regarded as an impertinence;
at all events the plan was not received
with favor by the Department 1t is
stated, however, that Secretary
McCulloch subsequently, decided that
there was need for action, and
organized an examining corps from his
own subordinates. Their report, If
made, has never been published, but
the rumors have increased rather than
diminished, and found their way into
the newspapers. the deficiency being
placed at from fifty to three hundred
millions. In regard to the probable
truth of these rumors, The Journal Of
Commerce has the following moderate
and, as we think, sensible remarks:
mThat there have been Inaccuracies
In the Treasury accounts, we have al
ways believed. No one who has had
occasion 10 employ and superintend n
large clerical force will believe that se-
curlties in bonds and notes to the
amount of thousands of millions could
be issued in such haste and confusion
as marked this era in the Treasury De-
partment, with absolute accuracy Of
detail. Supposing that every clerk was
thorouRhly honest, some discrepancy
would be almost certain to occur. The
fact that none such are reported, is not
a favorable sign. The cashier whose
account always balances precisely to a
cent, is fairly suspected of forcing such
an agreement. We think 1t not I'M
probable, therefore, that some errors
have been detected In these various
issues, and concealed as far as possible
from the public. G.-. ~.
. "But we cannot believe that in view
of the total OF the public debt, these de .
falcations, errors, or discrepancies
amount to anything more than petty
detail, utterly insignificant as affecting
the government credit. What could a
rogue do with fifty or one hundred mil
lion dollars7 Divide IL among several
hundred even, and how, could 1t be
concealed7 Dishonest men are not
proyident, and stolen money is always
lavished on vicious indulgences.- Where
are the enormous outlays which should
mark the spendthrifts who have been
enriched by these spoilsr The suppo-
Aition is utterly incredible. Petty rob-
berries there have doubtless been; even
grand larcsnies, perhaps, as the laws
reckon such crimes; blunders and slo-
Veuly accountings also In Il multitude
of eaaes; but a hundred millions! we
do not believe in any snch stupendous
frauds. The holders OF government
securities may, therefore, rest in conf
dence that no such discovery is likely
to shake the foundation of their in
Yestment. But thorough examination
of the whole subject by committee
capable OF conducting such an investi-
CATION, and having no concealment,
would be timely just now, and give
great satisfaction to honest men of all
narfial ~