New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-03-10
THE MYSTERIOUS MR.. DAVIS.

DISCOVERIES BEHIND CLOSED DOORs--A WONDER
FUL DISCREPANCY OF $24S, 100000 IN TIE
TREASURY ACCOUNTS WHICH HE THINKS HE
HAS FOUND.
IBY TELEGRAPH TO THE TRIBUSE.1
WASHINGTON, March Ex-senator Davis's COM
mjttee to investigate Treasury Department ac-
counts held all Its meetings with closed doors. and
has preserved the greatest secrecy with regard TO
the developments it was supposed to be making.
Only twenty five copies of the testimony taken by
the committee were printed, and these were kept
under lock and key 10y the committee, and access to
them refused to all. No good reason for 80 much
mystery can be found, as the testimony contains
nothing of sensational character and nothing
which duplicates Treasury officials, present past,
in irregular transactions.
The principal facts brought out by the testimony
taken by the committee are as follows: Separate
statements of the public debt at the close of each
fiscal year are made by the Registers Office and by
the Secretary Of the Treasury. Those made by the
Registers Office up to and including the year 1870
were taken from the books showing issues and re-
demptions" that Is bonds actually signed and sent
out Of the Treasury the one hand, and bonds re-
deemed and cancelled on the other. The statement
made by the Secretary taken from books show
ing the receipts and expenditures" of the Depart
ment, and included all subscriptions received up to
the end of the 30th day Of June in each year. As
subscriptions for bonds were not usually filled for
several days after their receipt, these two sets Of
books never could agree at any given moment dur
ing the negotiation Of the Government lOan and at
the end of the year the transactions OF a few DAYS
previous would appear in the Secretary's books,
while they would not appear in the Registers books
until the next fiscal year.
These two reports, showing an apparent discrcp-
ancy between the two Offices We're bound together
each year. and caused considerable inquiry. In
1870 il was represented to the Secretary Of the
Treasury that holders of American securities were
commenting upon this apparent discrepancy con-
sderng it an evidence of ooscncss in the accounts.
In consequence of these representations Chief
Clerk Savillc, on behalf Of Secretary Boutwell,,
wrote a note 10 the Register requesting that his
statements be omitted, or that they be made to con-
form with those Of the Secretary. In compliance
with this request, the debt statement issued 10y the
Register contained list Of the totals for preceding
wears which was entirely different from that gwen
IN ms former annual reports. One statement pre-
pared By the committee to bring out the discTcpan-
cics in Treasury accounts * novelty IN It's
way The totals Of the reports for each year begin
ming with 1888 and ending with 1870, are placed
in two columns side by side. and the excess III the
one over the other * carried out INTO third col
umn. Sometimes It was few hundreds ana at
others many millions. At the bottom these excuses
are footed up, showing total OF nearly S24S 900,
900. Al the time this table was prepared, the Com
mittcc had evidently not discovered that each
years excess in the Sccrctarys report was carried
INTO the total Of the Registers report for the year
following, and that the difference between the two
reports for the year 1870 comprised the entire cX-
cess for the whole period. This was illustrated by
one Of the witnesses as follows ii you nave a
discrepancy of one dollar, and carry IT from year
t. wear for forty years. and then foot 1t up you VIII
make discrepancy OF forty dollars"