New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
THE SUB-TREASURY.

THE NATIONS FINANCIAL REPRESENTA-
TIVE IN NETWORK A MOST IN
PoRTANT INSTITUTION
THE TOTAL BUSINESS FOR THE YEAR ENDING
LAST JUNE AMOUNTED TO $500 ooo.ooo-
TONS or GOLD AND SILVER COIN
HANDLEp-A VALUABLE ME-
DUN OF D!sTRrBU-
The New-York Sub-Treasury. the most i'm
portant OF the nine branches OF the United
States Treasury Department at washington
stands at the corner Of Wall and Nassau SITS,
in the centre of the financial district. The build
ing is one of the old landmarks Of the city, and
possesses many features Of great historic Sig
nifcance. The out-of-town visitor, in his round
of sightseeing. never fails TO stop at the Sub
Treasury. where he is shown through the great
main office with its dome-shaped ceiling ana
the vaults and other departments where the
chink of silver and gold and the rustic Of paper
money are almost never-endng. Each year the
sums of money handled in the course OF the reg
ular business Of the Sub-Treasury are so enor-
nous as to be almost beyond the grasp Of the
ordinary individual For the fiscal year ending
/ June 80 1893 the total business Of the Sub
| Treasury amounted to about $1,000 OOOOOO
! BY application Of thought the Sub-Treasury
| is the Nations bank. handling a large proper
ton OF the paper issued by the Department at
Washington. and occupying a most important
place distributing agent. The money received
is contributed by customs. redemptons Of cur
rency. Postofi,e accounts and many lesser de-
! partments Of the Government. while the dis
| bursements consist of pension payments, inter
J est Postofiice disbursements payments on ac-
count Of bullion purchases at assay Offices
and miscellaneous payments. which foot up into
the hundreds Of millions. Special transactions
are oftentimes arising in the course of years
business to relieve the monotony For example,
during the present year the Sub-Treasury has
received about SO OOOOOO from the sale OF the
Union Pacific and about SlOU0OOOo from the
sale Of the new Government per cent war
bonds.
PAYMENTS MADE HERE.
The army OF clerks IN the various departments
at Washington and outside in offices away from
the capital have their salary vouchers issued to
them through ,hc Treasury Department on New
York. For this there is very sufficient reason.
New-York exchange is as good gold any
New-York Sub Treasury is the dsbursing office
for the paymasters of both the Army and the
Navy Of the country as well as for the Quarter
masters and COmmissary's departments. The
medical staff of the Army and Of the Navy
utilize il along with the Engineer Corps. The
cannon that frown from fortresses everywhere
along the coast almost are paid for with drafts
on the New-York SubTreasury. Coast-defence
! Of heir referred
to New-York for payment Indian agents over
| the country are paid with NewYOrk exchange.
| as well as the employees Of the Agricultural De-
partment, including the Weather Bureau The
| Commissioner Of Labor draws his vouchers
against New-York. United States Marshals ex-
pect their funds for salaries. witness fees and
general court expenses to come by way of New
York
The Post0fiice Of New-York City draws out al
I most much as it pays i'll to the Government
repository. for the reason that this institution
! Of the Government is not yet on money
making ba sis. or. to be exact. is not self-sus-
tanning The customs service is dependent upon
/ the New-York Sub-Treasury both as a depos-
7 itory for its receipts and as a means Of paying
its running EXPENSES The Internal Revenue
+ Department. the hfe-saving service and the
I lighthouse service alike depend upon New-York
/ To honor their drafts. Thousands and thousands
! Of dollars of mutilated currency are redeemed
every month. and last. but not least. the major
part Of Congressman receive their pay in New
/ York exchange. In addition 10 all these things.
/ the Sub-Treasury receives reports from about
/ fftcen hundred postmaaters in the territory
reaching as far West the Mississippi These
send in their reports. and the detail Of the in
! stitution is increased from the fact that these
| reports principally from the sales of stamps,
run as low as - cents. From that they range
! inward to 81, and some on TO S20. This in
wolves. as may be readily anticipated. an inter