The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-01-27

priation by Congress. 1t is evident that
the cash statements must always differ from
the warrant statements by the amount of the
outstanding drafts and of the receipts not COW
cred into the Treasury.
Furthermore, any statement Of the actual
cash in the hands of the various Assistant
Treasurers and depositaries will differ from the
Treasurer's books by the amount of drafts out
standing When the Treasurer draws a draft
upon an Assistant Treasurer in satisfaction of
a warrant, he gives the Assistant Treasurer
credit on his books. The Assistant Treasurer
does not wake credit for the draft until he pays
it, and in the mean time there is an apparent
discrepancy between the cash actually on de-
post, and the amount borne on the Treasurer's
books This is one of those details that are
perfectly understood by accountants every
where, but which. when occurring in the Treas
ury accounts, might be magnified into immense
prosecutions for partisan purposes.
Inc debt statement, again, agrees with nell
tner the warrant account nor The actual cash,
and, in the nature of the case, it cannot agree
with either of them. The debt statement is
made up promptly on the first of each month,
and, as it states, is based upon the returns in
the department at that time. The returns
from many of the repositories are from three
TO ten days in reaching the de partment. None
of the receipts at these offices during the last
few days of the month can appear on the debt
statement. The cash in the Treasury, accord
ing TO this statement, must always be less than
the final balance made up by the Treasurer.
The discrepancy on this account in the debt
statement tor last July. as shown by the
Treasurer's report, was over three and one
halt millions. On the other hand all the war
rants drawn to the end CT the preceding month
are deducted from the cash on hand in making
up the figures for the debt statement, making
q discrepancy between it and the actual cash
on the other side of the account. All the above
classes of discrepancies, existing at the close OF
the last fiscal year, are fully explained in the
elaborate tables appended to Treasurer New 8
report.
There are numerous other classes of apparent
discrepancies which disappear when explained,
For instance, when moneys are advanced from
an appropriation, and are afterward repaid into
the Treasury, they are carried back by warrant
to the credit of the appropriation. As this
does not constitute true receipt, but only a
repayment of money, all such amounts are de-
Quoted from both sides of the account in max
ing up the statements of the net receipts and
expenditures for the Secretary's report
So, too, when bonds of one loan are
converted into those of another, the transac-
ton appears on the Treasurer's books as a re-
denton of the bonde converted on one side Of
the account. and sale of the bonds is
sued on the other. IA these are mere matter,
of bookkeeping which do not affect the re-
ceipts and expenditures one way or the othter
they are also excluded from the statements
of net receipts and expenditures
We have thus shown that there are numer-
GUS necessary discrepancies between the differ
emit statements of the condition and transac-
tiOns Of the Treasury, which are the necessary
results of the completely of the business, and
which disappear when explained. 1t may be
that the system of keeping accounts is capa-
be OF simplification, but it may well be doubted
whether committee of Congress will be able
to improve a system which has stood the test of
ninety years's trial, and has challenged the ad-
miration of all who have intelligently studied