Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1890-07-17
QUA TREASURY SYSTEM.
1t Was the Creation of Alexander BaufiIto
and Is the Best In the World.

1t Was the Creation of Alexander Hamilton,
and Is the Best In the World.
No nation has better Treasury sys-
tenn than the United States. When its
regulations are enforced, it practically
guarantees the Government against loss
By error or fraud. It involves the die
vision of the department into bureaus
each directly responsible to the Sec
Rotary, having little connection with
each other, and at least three of which
must approve a claim before it can be
paid each this acting as check Upon
the other. 1t recognizes She fact that
the subordinates in a bureau, subject to
removal by its chief, will obey the
orders of that chief, although they may
involve violation of law, so that checks
within bureau are unreliable. But if
the payment of claim requires An ex-
animation by three persons in as many
bureaus, and the approval of the heads
of each, conspiracy to defraud becomes
difficult and practically impossible.
Frauds upon the Treasury proper have
been extremely rare. The assistant
treasures are abnormal growths not
subject to the checks, and fraud upon
them involving large losses have conse-
dientl5 been Common, The manufact-
ure and issue of the postal and frac-
tional currency was another experiences
permitted to attach itself to the system,
and the account of that issue can not
be verified. 1t was the only issue of the
war about which there existed any
doubt It may he correct, but it is quite
possible that some millions of dollars of
that currency more than the amount
shown by the books of the Treasurer
we're PIT in circulation. 1t might have
been d0fie without detection, under a
single head, without supervision or the
cooperation of any other department or
person.
Originally adapted to an expenditure
of S25 600, Geo per anuuIn, the Treasury
system had the capacity of indefinite
expansion withoutimpairingi it's security.
In March, 1851, it regulated an expend-
iture averaging about $4,000, 900 per
month. Within sixty days it increased
to more than 81, 900, 900 per day, and
ultimately to more than 81, 900, 600, 900
per annum. Yet the system required
no change except an increase of clerical
force. Thus it happened that during
four years of war more than s., 900, 00O,
600 was received and covered into the
Treasury, and an equal value of securities
issued and delivered to those who were
entitled to receive them, without the
loss of one dollar by error or fraud.
This statement rests upon absolute
demonstration, and not upon evidence
alone. The amount is as far as infnity
beyond ordinary human comprehension.
The statement and the system which
verifes it afe wonders of finance in
country convulsed by civil war.
The Treasury was the creation of
Alexander Hamilton. 1t will live as
long as the Nation exists, and every one
who comprehends it Will accept is as
monument of the financial ability of its
author. 1t may be criticised by those
who do not understand it as an institu-
ton of red tape, but no experienced
Treasury officer ever advised the re-
triGval of one of it's checks, or the re-
Taxation Of one of its stringent provis-
ions-L. E. Chittenden, in Harper's
Magazine.