Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-08-22

ed TO the Grant AQmlniss8atio1s anu "a
frs. eight months to President johnson
term. ks
In The published debt statement Of Jul
1, 1850, Secretary Boutwell, certlfes th'
during the four months ending July 1,l66'
BY reduced the debt $56, acc, 779 As, SO thi
the debt reduction for the fiscal year enC
ing July ], 1869, was as follows:
First eight months by Secretary
g s S,,ocn ~ s.rasr ''V1
III boutwell,. OBSERVATION-DISCLOSURES So,40OJtfSsa
TotalfO the year. slz7 BIS, 4s4.C
During the three years which have inter
vened Mr.. Boutwell, claims to have reduces
the debt $3.50, Pa, 1921, that amount beinI
the difference between what the debt wa
on the LIST day of July, 1869, and the LIST dal
Of July, 1872, according to the monthly
debt statements of those dates, respectively
published and certified to by Secretary
Boutwell,.
Now, if it be true, as certified by the Sec
Rotary ofthe Treasury, that the total debt
| on the FIRST day of July, 1872, was $780,
! 213, 152.1l less than it was on the 1s6 day
| of July, 1869, when it was Sass, 002,-
4S0.58, (see Finance Report, page 276,
1907 it must have been 81, 1873, 7S9, 32S. AZ
July, l, 1872, viz:
July l, 1869, total debt ,4so OO2, 4sO5S
Deduct amount paid in three
years......n.... ......''''.'..' S'''-i'' To-
And the debt July 1, 1872. should
nave been......s. .-SS' loo o7yo<o's'
Instead of that, aud in the face of his own
records, the Seer tary of the Treasury GER
titles that on that day the debt was 1924 :
957, 142 .05 (see monthly debt statement Of
July i, 1922, shooting q discrepancy Of
more than one hundred and t!ttgsir mil
lions Of dollars.
If, on the other hand, the total debt on
the LIST of July, 1872, was g, 294, 957, 142.05,
the amount certified to by Secretary Bout
well on that day (see monthly debt state
ment, July 1, 1872, then the total reduc-
ton In three years from July ], 1872, was
only $l94,O45,338.53, it being Just that
amount less than the amount shown by the
ledger in the Registers Office on the LIST
day of July, 1869. (See Secretary Bout
wells Finance report, 1870, P. 276)
July j, 1869, Finance Report,
July j, 1872, monthly debt state
ACKNOWLEDGEMENT. 2,293, 957 JAP 05
Reduction in three wears. 1905 s38 s.
OOLupAAC bAAo WIN OOAl@SOAo
tration:
July /, 1866, total debt. ,7S3, 425 $50 81
july 1, 1869, total debt....... 1902 ,4S0 5s
Reduction in three years........S 2e4 42S 1913 60
(See Boutwell's Finance Report, 1870, p. H6.)
We have already stated that the Secretary
of the Treasury, in his monthly debt state
ment for July L, 1872, states the public
debt at $3.50, 2I3, l52. IL less than he stated
it in his monthly statement for July l, 1859.
So that, il his official statements are true,
ne actually reduced the debt that amount
in the three years, ending July l, 1872.
However much be may be mistaken as to
the amount of the debt which it is the
Registers duty to ascertain and record, he
ought TO knosU the transaction Of has Otcn
Office, and keep a correct account of the
money he pays out in reduction of the debt
or for any other purpose. An ordinary
business man would be at little trouble TO
record in book, and ascertain without
difficulty the amount of debt he paid from
a trust fund in his hands during the course
of year; the magnitude of the am cunts
would add little to the labor of computa-
ton, while the importance of strict accura-
cy would, on that account, be increased.
We therefore assume here that the Sec
rotary of the Treasury has reduced the
debt to the extent which he ceTtides, viz:
1850, 213, 152.11, between July /, 500, and
July l, 1872.
Now, if that amount is deducted
fir m what the total debt actual
ly was on the first day of July,
1853, viz: (see Finance Report,
1870, p 20 ,4SO 58
$50. 3d. 52 II
The debt of July /, 1872, was OF
And yet Mr.. Boutwell, is paying interest
on $2,294, 957, 1926! According to his
own showing, he iSpGying interest on $780,
100000 that the nation does not Olce.
DUPLICATE ISSUE OF UNITED STATES
BONDS.
The fact that duplicates have been paid
by the Treasury is fact well known
throughout the Department. The bonds |
10 which these coupons were attached have |
not been paid, perhaps not presented, at |
esst so far as it is known outside Of the |
Department. Bnt there is one fact within |
he reach of all who desire to inform them |
selves, which establishes beyond question |
Dne OF two things-iirst, that large amount |
Of duplicate unauthorized bonds have been |
ssued and sold, or else large amount Of |
money has been embezzied and charged to
he interest account.
Any one who viii take pains to calculate
he interest on the debt, certified to as out
standing, and compare that interest with
he amount of interest paid, will discover
hat for the last fiscal year the amount paid
exceeded the amount due nearly three mil
ions of dollars, precisely $2,36l, 734 Y.
For instance, the amount of interest
which accrued or the entire Understanding
debt of the fiscal year ending July l, 1872,
taking into account the monthly reductions,
was $114, 1896, los 90, and the amount paid
(ses Registers records), was SIT ,357,839-.
u. Excess of amount paid over the
amount due, $2,961, 734.T2.
Ifthis excess of nearly three millions has
been paid, then there are over forty-nine
millions of six per cent. bonds outstanding
which have been fraudulently issued; and if
this amount has not been paid, then it has
been embezzled and charged to the interest
account.
THE PUBLIC ACCOUNTS MUTILATED-
AUTHENTIC RECORDS ALTERED AND
FALSE ENTRIES SUBSTITUTED.
The annual report Of the Register of the
Treasury contains a statement of the pub
Lie debt for each year, beginning with the
year 1871 and ending with the year for
which the report is made. As before
stated, this was omitted by Register Allison
in 1869.
That statement is transcript from the
public ledger in the Registers office, and by
law is conclusive as to the facts in alleges
As before stated, it imports absolute verify.
1t is published by the Secretary of the
Treasury in compliance with law, that the
people may be advised of the exact amount
Of the national debt.
To illustrate how the Secretary of. the
Treasury manages to show large reductions
Of the public debt we will give single in
stance of the manner in which the public
accounts are alterated and official records
nutilated in order to manufacture political
capital and cover up delinquencies.
PUBLIC DEBT sTATEMEN FoRLAsT TEN YEARS.
: ggEE 1T al :