The New York herald., 1879-09-25

Total. $28, ,1O1, ga 9l
But to say that this act OF the government has
been forgotten provokes smile among the Treasury
officials and accountants in the Treasury Department
in Washington. The attention Of the United States
Treasurer called to the article published in the
HERALD yesterday under the heading. "a Forgotten
$685. OOO."
"Why." said the stolid, heavy custodian Of all the
moneys Of the United States edo you fall into the
error Of saying it is forgotten2 Bless your soul.
there Is nothing that is SO well known. well re-
membered and SO generally cursed day after day,
year after year, and has been for forty years,
- this very sum the HERALD intimates has been
forgotten. was toothless child when this loan
WIS made. and yet it is tormenting fact that this
cot Of generosity ON the part of the government
causes me more annoyance than all the regular work
OF the Office put together. Cast your eye over the
reports Of predecessors for thirty years. and
II it has been forgotten Every custodian of the
government funds since the days of Andrew Jack
son has been charged with that twenty million
and odd dollars the though he had loaned it
out on his own responsibility. Forgotten, my dear
fellow? Look at the proceedings OF Congress. All
manner of Legislation has been suggested and par
TALLY carried through to wipe out of existence every
trace OF this ever present loan. The present Secre
tary Of the Treasury when chairman of the Senate
Committee on Finance. made report upon the SUBJ
ject Of unavailable funds and in the House the sub
ject has come up in various ways You know the
story of the man who sold grindstone and forget
tho name OF the purchaser. and how he charged
every one of his customers with that grindstone,
ON the plea that the man who bought it could not
object to paying for it and all the rest would
protest. Well, every United States Treasurer
10 charged with that $2S 900 just though the
time would come when some ono in Office would re-
store the amount to the government Supposing
my boudsmen knew tonight was SIS, ,000 600 short
or supposing some fault-fnding statistical orator
should charge on the stump that the United States
Treasurer had receipted for $2s 00O 900 more than
the actual funds turned to him. He would tell
the truth aud unsuspecting people would say the
investigation into the Treasury business ought
to be pushed without delay. Now. no one
knows this better than Senator Davis, of
West Virginia, who is interested in rid
ding the Treasury statements of all useless
complications. and hence have his assurance that
ut the coming session OF Congress he will introduce
bill releasing the States from tho responsibility
eurred Ia accepting the loan in 1897 In my report
for the year ended June 3 1877 to Secretary Sher-
man. under the head Unavailable Funds say
"By far the larger portion Of the amount is made
mp OF the amount deposited with the States in 1887
by act of June %. 1856. At Arst this was deposit
subject to call by the Secretary Of the Treasury but
by act Of October 2. 1888 it can only be demanded
available items Is charged to every incumbent of
this Office. and remains balance against him.
samo items have been charged to his prede-
cessor. 1t therefore happens under the present
ruling, which Is undoubtedly legally correct, that
the only certificate an can get from the
department of the settlement of his accounts is,
under the best circumstances, that there is debit
of some $1,000 900 against him. Following up,
therefore, the oft-repcated suggestion OF my
predecessors in Office. It seems desirable that you
should recommend legislation authorizing the open
Ing Of appropriation account upon the books OF
the department. in which. under the head of "un-
available" the Treasurer may receive credit
time to time becoming unavailable, and
charsesSe may W be debted with the various s items
by warrant upon IN account stated by the proper
accounting officers of the Treasury. There is pre-
cedent for such legislation in the act of March 8,
1887 10 Statutes 17s). The effect of the Legislation
recommended will not impair any legal right of tho
United States. but will enable the department to
avoid the daily. weekly, quarterly and yearly repe
tition OF the amount Of these unavailable moneys
ana spy the report h. Of scepi
not cash from the cash account to the books Of the
register
II think have said enough to convince you that
II heverybody in tho United States has forgotten tho
loan tho Treasurer of tine United States cannot for
get It, 1t stands to-day part OF the assets of the
government. Just as the defalcatons and deficits
reported as unavailable funds and debited in the
statement Of the United States Treasurer
eff ever there was time when the voyernment
could have reasonably asked for the money It was
the beginning Of the rebellion. Now. more than two
thirds Of the Representatives would vote against an
act requiring the repayment of the amount loaned the
several states; and with s15o.Ooo.OoO in coin in the
Treasury IL is hardly probable such . bill would
ever get beyond u second reading. The prospect IL
that at the coming session tho loan will forever
cancelled. and that would be irresponsible way Of end
Ing troublesome task. which makes unnecessary
Tar hoo and oo1v
more modern citizen when he attempts to under
ssAaA ths mxstsrious array Of hsurss called state