The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1869-04-15
0, THURSDAY MORNING, APRIL Is, 1869.

IN dup llc0te there would be some 9th.
er number equivalent entirely want
ing, leaving the whole number ac.
tually issued just what it should Ic.
But this explanation, Of course, i'm
plies that the numerical registers Of
issues contained entries of issues of
certain numbers that ne or were in
fact issued, aud assuming the nut
merical registers to have been made
up from an actual comparison Of Sc.
curitics as they were issued, it i'm
plies that such entries must have
boun known to the persons making
them, us rule, to be untrue. But
the testimony tends to show that the
numerical registers Of issue are rather
theoretical than actual records Of
transactions. That is, the clerks in
charge did not compare each issue of
bonds by their consecutive numbers,
with the registry entries, or make en-
tries ia the register from each com.
parison, but they made up the en-.
tries in the register as rule, by TAX
ing the first aud last number of any
particular lot OF securities, making
entries from these, aud assuming that
all the numbers between were con-
secutiyo, regularly aud not duplicate.
1t is also suggested as to duplicat.
ed coupons that as they are number
ed at different time from the mum.
Der on the bond, they may have been
duplicated, and the bond not.
Another partial explanation is that
some Of these duplicates have proba
bly, occurred in issues Of securities
from what are called "slock packages
aud that they being numbered separ
ately ON each occasion, may have had
numbers already in use impressed ou
them. This appears, in fact, to have
been the case in one instance already
referred to of the 7.30 notes of 1861.
The committee state in respect to
the duplication Of the third series
of . pos of 1862 that they do not
agree with MIR. Clark, Supeyintcud
eut of the Printing Bureau, that they
are fraudulent and produced by ru
impression from a genuine plate be
fore it comes to the Treasury They
state the reasons which satisfy them,
that they were printed in the depart
ment, and state, as n singular fact,
that whilc there is no duplicate OF
bonds of that issue, which to perfect
them, would require forgery, aud the
connivancc of number OF persons in
different bureaus have been presented
but duplicate coupons which arc com
plcte when they leave the Printing
Bureau, have been presented and
paid. There have been, however, no
over-redomptions Of any of the secu-
rites, and the semi annual payments
have fallen considerably below the
amounts shown by the issue books to
be actually on the regular out, stand.
ing debt. 1t would seem probable il
there were any considerable amount
of fraudulent coupons in exiStence, tho
payments OF interests, would have
come much nearer the full sum.
The committee are satisfied that
methods of numbering, &c, tho sc
curitics of the Uuited States ought
to be adopted which will approach
the nearest to being absolutely Sc
cure against error aud fraud, even if
such method should be much more
expensive than others having less
guarantees and protection, aud they
say it is obvious that the highest
safety is to be attained by so con.
ducting the work that no Que in even
two departments should have it in
their power to finish any note, bond
or coupon. This security, we think,
can not be attained where all the
plates together arc under one con
troll where all the various processes
are done in one building aud sub
stantially in the room aud where the
employees are in frequent intercourse
with each other, as has been the case
in the Printing Bureau of the Treas
ury Department..
Another subject of serious consid
GRAFTON in this connection is tho com-
parative safety to Government as
we'll as to holders Of registered and
coupon securities. In the case oil
registered securities, as they are is
sued to some particular person, and
stand in his name on the books ol
the Treasury until transferred to the
name of another person, who then
takes his place upon the books. it is
next to impossible that any fraud
should occur, and if il should il
would bo certain to be detected on
any investigation, or on any change
of the perSoaasi of the department oi
bureau, aud it could be traced to it,
origin. But in the case of coupon
securities which may he and gener
ally are issued in blank aud which
pass by delivery, there is no such
guarantee of safety, and fraud
might exist for years impossible o
detection until the final Withdrawal
of the loan, and even then it coulC
not generally be traced to any partic
| u'ai pSlsous hVsV eSpui''Noi 'hSic
fore, aud the method Of their issue
and transfer hold out strong tempt
ations to fraud. The commute,
think it ought to be the policy of the
Government to carry its debt as fal
and as fast as possible into a regis
tered form, and that there are now
no considerations of Inconvenience
arising from this species Of security
that should outweigh the duty o
making the Government debt safe al
well for the Government as for III,
community.
The operations of the Printing Bu
reau in the Treasury Department
have grown so immense as to occupy
a very large quantity Of the space 0
the building which is needed for 9th