New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-05-11
ENGRAVING And PRINTING GOVERNNEST
ISSUES.

THE WORK CAN ONLY be DONE WITH SAFETY AND
ECONOMY BY BEING DTyIDED-DANGER AND TX
PENsE OF HAVING THE WORK DONE By SINGLE
CONCERN.
To tho Editor Of The Tribune.
SIR: The question now before Congress, re-
latng TO the engraving and printing OF Government
issues in which citizen has direct Interest
IL will be remembered that during tho war the WORK OF
preparing the Government notes, bonds, fractional cur
rency &c. was undertaken in tho Treasury Department
and that vast engraving and printing establishment
was organized under the superintendent OF Mr. 3. NJ
Clark This establishment became the occasion Of great
public scandal Doth account Of ged immoraes OK
persons connected with IT, and OF alleged irregularities
as the duplication and oyerissue OF Government secu
rites, which there prepared, all OF which resulted
in Congressional Investigation by two different com
mittees. The committee specially charged with Inyest
eating the preparation Of the Government issues was
the Joint Select Committee on Retrenchment
This Committee after most exhaustive examination
of the whole subject, extending over two years male
its report March, 1869, ana recommended that the
system Of preparing the government Issues WHOLLY IN
the Treasury Department should be changed ana that
new system should be inaugurated, by which the work
should be distributed between different companies each
executing Que part thereof upon the note bond or
other security and that only the placing or the Govern
ment seal and signing should be done IN the treasury
Department This Committee specially recommends itha'
no one or two companies or estaoIshmehs shouu
have 1t In their power to perfect any bond or note or
coupon but that each issue should pass through tue
hands of at least companies or establishments
distinct from each other, each thus acting az check
upon the rest and all upon the Treasury Department
In this way the Committee thought tue highest pos'oie
degree of security could be obtained.
The recorn endations OF the Committee were adopted
by the Secretary OF the Treasury aud the new system
naugurated. But unfortunately these recommends
tons we're never enacted into law the Committee sup
posing that tho subject had been 80 exhaustiveiy
treated by them and that the arguments FOR h,lr re-
concentrations were so selfevdcnt and unan5wera0le
| as to make any positive enactment unnecessary Ihe
has been that the system has been gradu
ally departed from by the Chief OF the Bureau OF En-
CRAVING and PFntinS' until 10 III" Al st''' .n'''N
| ignored.
The attention OF Congress has been called TO this fact
and petitions signed by many or the leading bankers
and merchants OF the chief cities OF the Union have
been presented Congress, praying that the rocom
mendaons of the Joint Select Committee on Rotrenoh-
ment may be enacted into law so that all Government
issues shall be hereafter prepared Ia accordance with
sueh conditions as shall the highest possible guar
| antee OF security aud safety
In view of the foregoing there seems to be but one
side OF the question. Every person who owns or handles
Government note OF bond is entitled to the highest pos
sbe assurance that such bond or note is genuine The
Committee find that DO best given by having the
tripcate check above referred TO in the preparation OF
| Government issues To have no such check. and TO
trust the entire preparation to one person OF one estaO
| rsnment would seem to be a grave mistake
| The Committee and the Secretary or the Treasury
| BoutwelD have said that the trlpe-check principle
ought to be carried out at greatly enhanced cost
In other words question OF economy Is not
worth considering IN comparison with the question OF
security in the preparation Of the Government Issues
But It is alleged tho best authority that the cost OF
doing this work wholly in the Treasury Department.
without the safeguards for security above alluded TO-
is much greater than whom done In accordance with the
recommendations OF the Retrenchment Committee, so
that not only the paramount argument OF security but
also the argument of economy eau be urged IN favor OF
the proposed law On motion Of MI Dawes, the Com
mitfe on Banking aud Currency now engaged In IN
yestigatng the subject aud doubtless will give due con-
the facts and arguments presented by tho
eminent bankers and merchants whose signatures are
appended to the petitions in favor OF return 10 the
system recommended by the Committee OF 1869.
| Hel- YORK, May 8, 1874. Z.