The New York herald., 1875-07-19
The Count Of The Money In the Treas
ury and the Result.
RETICENCE OF THE TREASURY OFFICIALS.
The Mysterious imitation and Contraction
Of the Coin Balance.
HE PUBLIC DEBT STATEMENT.
Secretary Bristow on the Act of
January, 1875.

WASHINGTON, July Is, 1875.
The count OF the coin, currency and bonds for
which United States Treasurer New is RESPONSE
BILE, and Tor which he gives receipt to his prede-
cessor, was finished to-day, and has proved en-
tirely satisfactory to the new Treasurer. The
thet OF $4,000 was already known and that
amount OF deficit was, OF course, expected; but
In every other respect the committee report the
coin. currency and bonds held for national bank
ing circulation to be as charged on the books OF
Uncle Sam. The impression seems to have pre-
vailed that this count would include all she funos
belonging 10 the govern ment, ana as Mr.. New is
careful business man the public would know
exactly what amount Of coin and currency were
actually on hand, without reference TO the system
OF bookkeeping kept up in the Treasury Depart
ment. The United States Treasurer Is RESPONSE
BILE only for the funds under his immediate care,
30 the count could not .nclude the sub treasures
and United states depositaries where q large
amount Of the government money Ii kept for
convenience IN business transactions. The bulk
OF gold coin is In the New York SuD-Treasury. and
but very little Is kept IN thevauts OF tne Treasury
Department. The assistant treasurers like the
Treasurer, give bonds In large amount Tor the
custody OF the funds intrusted to their charge.
and though the Treasurer may at his discretion
order oil the funds to Washington, tbs responst-
Dllity tnat tne new treasurer b uOtllkey TO lncur
Still there Is natural and commendable desire
ON the part Of the mercantile and banking COM
munity to know precisely how much gold the
United States Is owner OF to-day, ana If the figures
have not been given as sequence OF the access
sion Of Mr.. New tt certainly Is not his fault He
Is, however. in daily receipt OF reports from AL
the large depositaries Of government funds, and
receives weekly reports from the smaller places,
so that at least every seven days he knows
THE AMOUNT OF COIN
distributed among the sub-treasurles, deposita-
ries, mints ana banks Ior which assistant treasu-
rers ana other orncias are responsible. Several
years ago tae HERALD printed copy OF the de-
tailed report which showed where the $50. 600 900
OF coin was actually held. The publication OF what
was intended as strictly confidential document
excited the ire OF Secretary Boutwell, and caused
the clerks In his ONCE TO rise and explain how It
was that the burgiarious element OF the country
had been invited to raid tue strong boxes OF the
government. The iact that IL sustained the Sec
retary In his monthly report and served to set &C
rest all suspicion Of incorrect statements about
the coin balance did not palllate the offence and
falling to discover rne leaky parties the HERALD
was Messed with the anathemas OF the
stoical Secretary. Bus Of late new
order OF things has been established in the
Treasury Department Tne same law which
10 Mr.. Brlstow. The latter knows nothing of the
restraints of the Funding act OF $780, ana says he
Is fres not only to Increase the bonucd Indebted
OF the United States but 10 increase she sale
OF ave per cent bonds above the limit or
$780, 600 o00 II IN his judgment II Is necessary to
prepare the way Tor specie, payment on the 1st OF
January, 1879. Already he has sold millions of
ave per cent bonds a. private sale. and with the
proceeds purchased silver bullion with which to
redeem fractional currency, and this new feature
Of the act OF 1876 additionally complicates the
daily and monthly reports OF The department as
to tse exact amount OF coin the government owns
over and above Its gold Indebtedness. It did not
seem unreasonable Of your correspondent to ask
OF the Treasury oficias Information which
would confirm the accuracy OF the daily reports
Of the Treasury balances IN Washington or help
10 understand the sudden and sometimes startling
differences that appear without apparent cause
or explanation. IL rather seemed duty TO OBJ
tain an absolute statement Of TACT which would
tend TO dispel the apparent illusions OF the Sec
retary
JUGGLING WITH TIE HARD MONEY
Of his country But. alasl for indulging In such o
belief vending my way through the DARK and
narrow corridor which leads TO the ONCE OF the
United states Treasurer, the north wing OF the
Treasury Building was reached and the
door OF the watchdog OF the Treasury stood be-
fore me wide open. The greeting ol the Treasurer
was cordial, ana without wasting words he in
formed me that the Secretary was not willing he
should furnish the Information asked for ycster-
day, ana gave as the reason that no private banker
or banking nrm would advertise 10 the world
what he had IN his vaults 10 tempt the greed OF
daring roooerS Your correspondent admitted
that n the Information sought was printed
IN the HERALD 1t would be equivalent
10 setting before the intelligent masses I'm
portaut information. but could not indorse
the view OF the secretary that the
HERALD would be the medium Of encouraging
crime. mere wa vacant look about tire once.
The thousand volumes In re d morocco and bue
and gold whlcn warmed the back OF General
spinner, the modei Of the equestrian statue OF
General Grant. tue dainty tracery OF vines and
the sweet od0r OF flowers which ornamented the
room when the General was Treasurer, were all
gone ana all that seemed wanting to make the
premises the abode OF an oid-fashioned banker
was cobwebbed walls and ceiling. Mhen you speak
OF New York 10 a Washington ofncial you invite
generous sneer. Not 30 with Treasurer New. for
his nfe here has been Of but lew days duration.
Yet ne could not DO that when his superior dis.
approved, 20 the once OF the secretary was next
vlslted, 70 hear ron tue head OF the department
ths reasons Tor decnnng 60 give q detailed state
meat or an elucidauon OF the system by Which
shs com balance Was innated and contracted from
time 20 ume. IL was merclful. perhaps, on
the part ol the secretary that he did decline.
Judge RicnArdson devoted the frst two years
OF hn career a. Assistant secretary IN attempt.
ms 10 explain 20 politicians the public deDt
statement aEd gave 40 the TASK IN despair, con-
tenung himsslf "a compilIng the laws relating TO
ths currsney and bonds VI the Unted states,
leaving 70 anotbsr the IaaE Of graspirg she fear.
IuIly and wonderfully made
rrnLlc unnT srArKNESTa
There is nothing mean aDout secretary Bristow.
ne recognizes tns nght Of tae public % know
everything relating % the administration of. Its
nnanceA snd wncn ASKED for an absolute state.
ment of TACT saie -
-You wal nnd it m the debt statement insued
on the lst Of the month and A. that h not consid'
cred correct there u not RECORD IN tuis oeDart-
.-ALa. l.lL.LlLa lnLnEmAlLnn