The crisis. (Chillicothe, Livingston Co., Mo.) 1877-1878, 1877-11-29


S30, ,3i0,577.
INTERNAL REVENUE.
1t Is observed that while the revenue from
customs, lands, and miscellaneous sources
has decreased year after year, since 1873.
the revenue derived from internal revenue,
so-called, has increased, the receipts from
that source in 1874 having been Sl02 ,4O0,-
7S4, and in the fiscal year, 1877, S1lS,6oO ,i07
The total amount Of unavailable moneys
carried in balances Of accounts in the treas
urers offices was as follows: June 80, 1876
500, ,S90, $40; June 80, 1877, S29 $40, ,SS3.
HOW THINGS SHOULD DE.
The theory of public accounts is that the
treasurer of the United States shall be
charged upon the warrant of the secretary
with all moneys received into the treasury,
and for which, whenever receivedhe is held
accountable until the same are properly
disburscd under some appropriation made
pursuant to law.
HOW THINGS ARE NOT.
1t has. however, occurred that since 1886
the sum of 500, ,G25S33 over and above the
amount of public money which has been
properly accounted for, has by reason Of
the deposit Of the surplus revenne with
twcnty-sx States of the union, by deficit,
by default, by theft In various places, and
by failure in depository banks gone from
the custody of the treasurer, which it seems
he cannot, from the nature Of the case, ac-
count for, and thereby obtain credit there
for on the books of the department. and for
the convenience of the operations Of the
department this amount is carried in ac-
counts as unavailable.
A sTEALINGs ACCOUNT.
The treasurer thinks there should be leg
islation authorizing the opening of an ap-
preparation account upon the books OF the
department in which, under the head of
"unavodablc,' the treasurer may receive
credit for sums now and hereafter from
time to time becoming unavailable. and
that the person, bank, or State properly
chargeable may be debitcd with various
items by warrant upon the account stated
by the proper accounting officers OF the
treasury.
THE DEBT STATEMENT.
Although tho monthly debt statement OF
the department was never intended to show
the condition of the treasury and the
amount and kinds of funds on hand, yet
many deductions are sought to be made
from time to time, as If that publication gave
the liabilities and assets and not merely
the condition of the debt. The only items
of cash in the treasury which the debt state
ment include are the general currency bal
ance and the general coin balance. The
currency Dalance' rs IL appearS Ill tht
monthly statement uhuer the Item 'cash IL
treasury currency is Simply the amount
OF currency that would be leit IN the treas
ury after the payment Oh all currency ue'
mahds IN iuli' ana also Oh tlle ltcih c"sh IL
treasury com Ihere Is IN auui'loh th'
amounts held Tor thc redemption OF clear
inS-house certifcates ana com certlIcates
OF which the amounts outstanding are hote'
in the statement besides whlch not men
toned, there are 1unds 10 the creult Oh INT
disbursing officers for the redemption
the notes OF national banks falled' In liqui
dation and reducing clrculatloh' TO NEE
outstanding checks and drafts Tor the pene
fit OF the creditors oil national banks, I'M
balance oil the per cent luhu ana others
COMPARATIVE STATEMENT
is given showing in detail both in coin ant
currency, both the liabilities and assets y
the treasury on Sept. 30, 1876 and 1917
These aggregate as follows: Coin, Sept. ~
1876, S67 ,7O5, Sept. 30, 1877, Sl33,5So'O72
currency, Sept. 30, 1876, SlOO'43I766; Sept
so. 1877, SllO,O06,O39.
NATIONAL BANK CIRCULATION.
Regarding the long-mooted question
whether the legal tender notes deposite,
for the redemption Of the circulation o
failed, reducing and liouidating banks ar
held as separate fund 1t may be said tha
there is no provision of law which requires
that such notes should so be held, and as
fact they never have been set apart an,
distinct from other funds in the treasury
There is without doubt in the various of
Aces and various vaults of the.treasury
sufficient amount of United States notes t,