New-York tribune., 1868-09-12
THE TREASURY ACCOUNTS.

To the Edftor Of The Tribune.
SIR Will YOU permit the writer, who has
heretofore had experience with the Treasury syS
TEN accounts. offer explanation Of the apparent
discrepancy between the statement OF receipts and e1
pendtures Of the Treasury for the fiscal year 1878
presented by Commissioner Wells to Mr Allison and the
statement Of the public debt as officially published By
Secretary McCulloch
The aggregate receipts OF the Treasury for the year
were stated by Commissioner Wells 10 have been sIOs,
800 OO0 and the aggregate expenditures at s355O2o
leaving estimated surplus Of receipts over eXpcndi
Of 74977 As the official statements Of the debt
and cash in the Treasury do not show this surplus, the
questions naturally arise Was any such surplus realized
and II So What has become Of it propose TO answer
these questions
The statement OF aggregate receipts and expenditures
presented by Nj. Wells probably taken from what
may be called the account Current Of the Treasury
Department and without doubt will be found to te sub
stantiay correct The statement Of debt published
monthly by the Secretary made up IN the Offices OF the
Register and Treasurer of the United States Now The
discrepancy in question will be found TO have originated
entirely in The different system By rheh accounts Lept
~ The different Bureaus Of The Treasury 10 illustrate
The debt on the lst Of July 1867, less cash
in the Treasury .S2,5l1, ,sOO0ls
The debt the OF July, 1863 has never been Off
ciay made public No is authorized 10 state the
exact amOunt-but for the purpose Of illustration
argument We assume The amount rulnored, VIZ: $3.50
OO0OO0.
Trty-three millions IN round numbers OF the surplus
indicated by Commissioner Wells remains Therefore ~ DC
accounted for.
OF this about slGcOOOoO IL satisfactorily disposed Of in
the Increased Issue of bonds to the Pacific Railroads.
which ISSUE being ia reality loan Of the credit Of the
Government, and not a payment OF money naturally
found place in tho transcript from the books OF tho
Treasury presented by Commissioner Wells, OF the cx
pendituIes Of the fiscal year.
Then there remains TO be accounted for the further
OF SI7OOOO0O the alleged Disappearance OF which
WILL we think, 10 satisfactorily explained by the follow
ing extracts from the report OF the Treasurer ~ the
United States relative 10 the business OF his Occ for the
fiscal year ending June 3O 1867, See finance Report
1861 pages and 1871 IL this report Treasurer Spinner
IN abiding to apparent discrepancy ia tho different
accounts Of the Treasury Department says: "Thc
books Of this Ofce'-vlz, the Oihco where the
statement Of debt Is pIepaied-"Dow, as at all
other times, show the balance OF rfihdt re
eepts authorized expenditures, which, at tho
same time is the amount Of money ia the Treasury "
the0y 40 moneys can DO received into nor pad ont OF
the treasury except on warrants IN pursuance Of come
law Ihs Is carried out IN practice, far a. tho paying
out Is concerned Not IN regard 10 rcCcpts moneys
must be received by any officer NtiOua. bank author
lLed 10 receive moneys deposit TO the credit Of
the United Stalesi and. as many OF these oicoe
are at great distances from the Treasury Depart
meht, and as warrants can only be issued on
the ascertanmcnt Of tho fact Of such
deposit, and as 10 necessarily requires time before
proper covering warrant issue therefor, II tOOics
hdf ne Oddnoe Of money Ia ne Treasury, according 10 e
account Mdt repreSentS deiudl receipts and payments tCh
d any tne and dt al tunes, Idr0eiy exceed The balance
made up on the bOohs from only As the Register
of the Treasury can Keep his books only by warrants.