The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-09-18
aElcard seosn 4. Treas ai Ifnnscr.

s-Ts
], Card fsoan Treasurer Hnsscr:
i Haneral Rogers writes In The Dispdle9 Of
4 this morning, and 10 axnnch-aggrieY yea Ion =.
4 complains or d letter to Judge SfeyeHs, " r1s.
i ten in answer 10 him, as being calcul atea 20
Stin,ure him in his official capacity. II there
i "a an ythipg In that letter calculated to effect
i thas end j was as unconscious OF it as. was
4 MoIiere's man that he had been speaking
4 prose all his life. When the bonds came 10
4 with the regular coupons crt of, and others,
/ even II OF the same amount, attached, the
clerks engaged 10 funding demonstrated
4 against the substitution, because 1t broke
4 npa system OF Bookkeeping ordained by
the Legislature as q register OF coupons re-
i ceiyed for taxes, which would involve q
large amount Of additional service and q
I. serious amount OF cost IL the disposition
/ OF the coupons, now managed by ma
nipnIation Of signs [see Act April 2,
1881, had to be described in writing,
and that too. perhaps, in new set
OF books, which it would take time to create.
II the system devised in the Treasury Office
and adopted By. the, Legislature was good
for the coupons taken in from the Taxpayer
it was good for those derived from the
fuuder. The additional trouble OF noting
the course OF the,coupon ina book, OF which
Mr. Williams makes. so small In his letter,
might mean, and our funding clerks think
would mean, an additional set of books and
one or two new clerks in addition to the
two who now do most OF the funding bust
ness 50 easily and 80 WELL, Hearing. as we
did in the Treasury, that both Mr.. Williams
and the Second Auditor had a large excess
of Glass l., we supposed that the proper
number OF coupon bonds with the regular
coupons attached might be sent in to cover
the excess OF Class I'll. improperly funded
an .erl or for which, assumed the RESPONSE
bility on the Treasury and made no charge
against the Second Auditors office. To
have done that, which, according to the adj
missions -qi- Gepsretrh easITy done, as they
both confess the possession OF large excess
Of Glass l., would have promoted the dis
patch Of funding and the ease and accuracy
OF bookkeeping in the Treasury office. The
funding act of March IS, 1879, requires
that " bonds shall be presented for exchange
with all coupons attached maturing after
the date of presentation )" !; and as the Le-
gisature had shown its appreciation OF the
Importance of attaching them in regular
succession for purposes of bookkeeping in
the act OF April 9, 1879, we thought it might
be fair to infer it meant the same thing In the
funding, for the same system OF bookkeeping
is important in both cases. Now, the syS-
tenn of bookkeeping for coupon-register,
according to the requirements OF the statute,
suppoSes regular sequence and order IN
the presentation Of coupons. a line IS
made for the number OF the coupon bond,
and then little square for each coupon is
ruled, not large enough for its redemption
to be described in writing, but sufficiently
large for corresponding sign to indicate
whether it is out or cancelled or exchanged.
| This presumes regularity and sequence in
the coupons. and irreguIarity iu their pre-.
sentation would be fatal TO it. The Legs-
lature had indicated IFS appreciation OF this
mode of bookkeeping, and we endeavored
to preserve it., as it would entail addi-
tiona expense and clerks TO overthrow
it. This, we thought, would be per-
.ceived by all engaged in funding, and
| | suppose there can be no doubt but
that the preservation OF the present system
would increase the convenience and the
dispatch OF funding. TO this end we bad
supposed all engaged in funding, whether
representing the Syndicate or the State,
would conform. And yet, because / seek
to preserve the present system OF book
keeping, the Dispatch charges me with OBJ
| structing the operation OF funding. Ii we
! have to create new books and employ addl-
tonal clerks, hardly think it will hasten
the operation much. General Rogers, be-
Iieve, has no great affection for the coupon
register or it's system OF book. keeping, but
T think any impartial observer who will ex-
anime the register will say that do not at
tach too much importance to it. So far
from pleading guilty TO the charge OF OBJ
structipg the progress OF funding, maln-
tain that all orders sent here have been sat-
listed with reasonable dispatch. We are
ahead now OF the $1,000 bonds furnished
by the Bank-Note Company, and we are
now on the third day OF comparative idle
ness because we have exhausted the bonds
OF the character most used in funding.
I have placed my rejection OF the bonds,
with The coupons cut of, when presented
for funding. on account OF lis effect upon
our system OF bookkeeping, which, in the
case OF coupons received for taxes, bad
been approved. and, indeed, enacted, by the
Legislature. But there was also another
reason which yet seems to me to be valid,
although I offered to conform to the opin-
ion OF the Attorney-G eneral when given
| The funding bill in its third section de-
c.arcs that I" bonds shall be presented FOR
exchange with all coupons attached maui
ring after the date of presentation" Dut
these were not presented with all coupons
attached. EIad this been done we might
have presumed that they were. presented
before the 1st July, 1879. But in tins case
they were cut of, which was PROOF posi-
tive that they were not so presented. Tor IN II,
| that case the Second Auditor Wooriu ho'
have allowed them to be cut OIL. 10 pre-.
sume then, that they were presently a. h .nae
date with the coupons attached would nav
been presuming against fact, which is never
allowable. But when the Attorney:Gene'
raj overruled me, offered to adopt his s,lg-
t nost G r. NJ. T. HUNTER.
| TREAsuRER's. OFFICE
RICHMOND, September II, 1879. )
| Hon. x, N. I. Hunter, Treasurer
Dear sir,-Mr. Charles U: Williams is in
error IS to the loss to the Estate OF u per
CENT CENT on s16O, 100, or $2,401.50," because
SsO, $50 OF Glass III. would have been capt.
tuIized at the same rate, the last being non
taxable and having gold value.
Il