The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1871-10-05
2olitieal affairs.



The alarming fact revealed by the
First Comptroller Of the Treasury, that
a million of notes has been issued by
the Treasurer of the United States,
without "any record Of their denomiua
tions or numbers" being keps, has ua-
tu;ally excited anxiety in financial cir
cles, in regard to the security Of all
forms of the public debt The Wash
ington Pat'iot, says, aud this feeling
has been intensified by the knowledge
that the books Of the Register, Secreta-
ry, ahd Treasurer, not only do not
balance, but disagree irrecopcilably, to
thc-cxtent Of more than hundred mil
lions of dollars So omueh is established
by official documents, but how much
more may be concealed, aud will remain
hidden away in the recesses of the
Treasury, until a change Of the Admin
lstratlon, it is now impossible to con-
jccture. But the revelations thus far
justify the worst suspicious.
Take os an illustration the statements
of public debt put forth by the two
highest officers of the Treasury On
the lst of July Mr. Boutwell, reported
the outstanding debt, after deducting
purchased bonds to the amount Of
S,24, ,2G0, ,S26.97, to be 81 1853, ,2l1 ,332.-
80. The Treasurers statement has not
yet appeared, but his statement of last
year furnishes the basis for arriving at
"A result, which exhibits the exact dis
crepancy in 1871 that existed in 1870
and therefore demonstrates that there
has been an enormous error, or over
issue Of bonds not accounted for.
debt July /, 1870, at S2,367 ,sfl ,Gls.O5
boutwell, l2I, $50 s26.s7
Total July, 1871 S2,243, ,5sO, ,s2l. .Os
Let us recapitulate, in order to prove the
proposition:
BOutweli's debt July | S2,353, 81, 1872. 80
Spinner's debt July | 2,243, $50, ,S2l.0S
Excess of Boutwell, SlO9, ,5ll.24
Between these two statements there
is difference of one hundred and ten
millions of dollars 10 round numbers.
The books of these two officers, es-
pccially in regard to SO grave and
important matter as the public debt,
should agree to cent. But IL is seen
that they disagree enormously, and that
this wide separation is not of recent
origin. The same excess occurred a
year ago, aud now, in the absence OF
the Treasurer's report for the present
year, when deduction is made ior the
redemptions by purchase, the exact
figures reappear TO demonstrate that
this is no clerical blunder, but sub
stantial fact of orer.issue, What has
become of those bonds is not known,
but the air is filed with rumors of fraud.
ulent issues, of Implications with alter
ed numbers, aud Of large sales nudcr
the most suspicious circumstances.
When such facts as these are consid-
cred, in connection with the official
admission that million Of notes were
put in circulation by the Treasurer of
the United States, without record or
evidence Of any kind to trace or identi.
fly them without even proof to show
whether they were compound-intcrest
notes or legal tenders, there is urgent
reason for demanding a thorough inves-
tigation Of the accounts Of the Treasury.
Iu the last Congress Radical majority
always stood ready to vote down every
form of inquiry calculated to expose to
public view the gigantic frauds which
are known to exist in that Department
When resolutions were occasionally or
accidentally passed, the Secretary re-
fused to answer at all, or prepared his
replies in such manner as TO defeat
the object. The attention of the House
Of Representatives and Senate was more
than ouce called tc this defiant neglect
of duty, the motive Of which is at last
partially revealed. Now, however, that
the majority is diminished, there is a
hope that the attempt may be repeated
next winter with better success. When.
ever the books of the Treasury are
thoroughly examined aud compared, the
developments will astound the country.