Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1890-07-17
OUR TREASURY SYSTEM.
1t Was the Creation of Alexander Hamilton
and IL the Best I'm the World.

and L. the Best in the World.
No nation has a better Treasury sys-
tenn than the United States When its
regulations are enforced, lit practically
guarantees the Government against loss
by error or fraud. 1t involves the di-
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 thus acting as a check upon
the other. It recognizes the fact that
the subordinates in bureau, subject to
removal by its chief, will obey the
orders of that chief, although they may
ilvolve a violation of law, SO that checks
within a bureau are unreliable. But it
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-
quently been common. The manufact-
ure and issue of the postal and frac-
tional currency was another experience
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 1t may be 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
were put in circulation. ItSmight have
| been done without detection, under a
| single head, without supervision or the
| co-operationoof any other department or
person.
Originally adapted to an expenditure
Of oS25, 600, 900 per annum, the Treasury
system had the capacity of indefinite
| expansion withoutimpairingit its security.
| In March, 1861, it regulated an expend-
| fture averaging about IS, 600. 600 per
month. Within sixty days it increased
| to more than S. 600, ZOO per day, and
ultimately to more than 81, 600, 600. 0oO
per sannuma YETI the system required
no change except an increase of clerical
I force. Thus it happened that during
four years of war more than S., 600, 600,
900 was received and covered into the
Treasury, and an equalvalue 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
| demonstra ton, and not upon evidence
alone. The amount is as far as infinity
beyond ordinary human comprehension
The statement and the system which
verifeso it are wonders of finance in e
country convulsed by civil war. .
The Treasury was the creation O
| Alexander oHamilton.6 1t will live a:
4 long as the Nation exists, and every one
who com prehends it will accept it as Z
mopumentoof the financial ability of it
author. It may be criticised by th6s'
who do not understand it as ansinstitu
.fon of red tape. but mo experienced
Treasury officer ever advised the, re
Omoval OF one of it's checks or the re
laxa ton of one Iof it's stringent prosis
.ions.-L E Chittehden, in Harper
i Magazine. Q