The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-01-14

items which tended to show each discrep-
ancy, the debts o. States assumed by the
general government amounting to S76,-
1000, the Texas indemnity fund, &c.
Again, in 1861, six per cent loan was
authorized by Congress, which Mr.
Chase, Secretary Of the Treasury at that
time, was unable to negotiate at that rate
of interest, and the consequence was that
S5O,OOO,OOO worth of bonds were issued
on: which seven per cent was actually
paid, and the amount received into the
Treasury from them was less than s46,-
100000. Up to 1869 the Register
of the Treasury only was re-
quired to keep An account OF the
public debt. No account had been kept
in the office of the Secretary and 1t was
then ordered that an account be
kept in the latter office, He argued
that it was the only by exploring and
investigation or by knowledge derived
from practical experience that we could
understand the business Of accounting.
If certain bonds were presented to the
Register of the Treasury to-day for
his signature he would sign them
and Immediately charge the pub
lie debt with the par value OF
these bonds, and if the Register should
then be called upon for q statement OF
the debt, it would appear greater than 1t
really was to the amount Of the boz ds
signed. He reviewed 81 length the man
ner OF keeping accounts in the Register S
office, and said there always would be q
difference IN the statements OF the othces,
but with the two statements the
truth could be traced out. This system,
about Of which so much complaint was
now made was instituted III 1868, as
check on the Registers otioe. 1t dltiier-
ences in these two accounts did not exist
collision and fraud between the different
branches of the Treasury Department
would not be shown. An analysis OF the
two statements would never fail to show
that the facts on which they were based
were the same. The financial report
made to Congress in December, IN
which the financial condition of the
country on the 10th of June preceding
and the monthly statement shows the
| financial condition on the first OF July,
while often time there were transactions
between the close OF business on the
! thirteenth of June and the time of lssu'
ing the monthly statement on the hrst ol
\ July, which would go to show diher'
ence in two statements. On the thirteenth
of June, when the fiscal year closed
statement was prepared showing the
amount of money on hand, of which the
Secretary had official knowledge
The books were kept open
however. forty five days aftel
June 3Oth to get returns from all paru
of the country, snd'as consequence, a
the end of the forty five days the receipts
were much larger than shown by th'
| statement OF June 30th. This was th'
Z case particularly in the Internal Revenue
office: the Commissioner made an exhibl
4 Of the amount on hand at the close o
bushes, on the both of June, but for day
and weeks after those receipts were cred
4 tied which had been collected in yarlou
4 parts of the country, prior To June 10th
4 who movethat the Senate proceed TO the
consideration of executive business.
Mr.. Davis inquired if his resolution
would come up as unfinished business a
the next meeting.
The Chair replied In the affirmative.
The Senate then weRt into executive
session.
When the doors were opened, Mr.
Frelinghuysen called up the Senate bill
authorizing General 7. Marsh to sccep
a certain present from the govern ment o
Switzerland and a certain present trou
the government of Italy. Passed.
Mr.. Spencer moved that when the Sen
ate adjourn it be 10 meet on Monda!
next. Agreed to.
The Senate At p. NJ. adjourned.