Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-07-16
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Copyright, 1905. by Johp Elfreth watkins)
On the evening of June 30. after Ellis H.
Roberts retired from the responsible office
Of treasurer of the United States, the
twelve great vaults of the national treasury
were closed and sealed. These seals will
not be removed for the reception of new
money and bonds until the last dollar of
the retired treasurers account has been
counted and attested and the total has been
compared with the amount named in the
transfer statement issued to his successor.
Charles II. Treat of New York
This counting Of the nations hoard-a
task which Invariably commences when a
new treasurer assumes offlce-will require
anywhere from three TO five months, de-
pending upon whether the accounts are
found to be straight and whether the in
coming treasurer demands a full count by
hand instead of one partially by weight.
Under the most favorable circumstances,
however, the official cOunterS-coulpriSing
a force of about fifty men-will be at work
In the great vaults until the last breath
of summer has waited up from the tropics
and until the leaves have scared and COM
menced to fall.
What stupendous undertaking this count
will be may be partially realized when is es-
timated the amount In the treasury at the
time the counters sat down to their tcsk.
Shortly before Mr.. Roberts closed down his
desk for the last time he told me that
there should be, in round numbers, an ag-
gregate of s1,152, $4,000 in the vaults, this
divided between coin of all kinds, notes.
certificates and bonds Here we have an
amount about double the reputed wealth of
John d. Rockefeller or thrice that of An
drew Carnegie. The largest items
$536. 100000 in bonds held as security for
national banks. $3.50, 0G0 gold certificates
held in reserve and s153000, eco In standard
silver dollars. Over 1923. 0G0.0G0 of the total
is a reserve fund of new notes held to re-
place currency unfit for circulation.
The official count Is in charge of a COM
mittee of three, composed of the chief of
the public moneys division of the treasury,
representing Secretary Shaw; the chief of
the loans division, representing Retiring
Treasurer Roberts, and a personal repre-
sentative of the incoming treasurer, Mr..
Treat. These men are all the appointees
of Secretary Shaw, are responsible to him
and will make to him a report Of their find
ings when their onerous task is finished.
1t is then that the transfer statement of
Mr. Roberts will be formally approved.
framed and hung upon the wall of MIR.
Treats office. Before the transfer Is APP
proved Mr.. Roberts will have to show that
there Is In the keeping of the treaSurerS
office the amount-to penny-of the SINH
lar transfer statement given to him eight
years ago, plus the amounts since received
from various sources and minus the
amounts paid out by him, as shown by re-
turned checks ard vouchers II there be
any money missing Mr.. Roberts will be
required to make good out of his own pock-
ct To cover such a discrepancy each In
coming treasurer of the United States
must give bond in the amount of $50 COO
and this bond is always perpetual. II a
shortage should be discovered in the treas
ury vaults a century hence and should be
traced back to the eight years of Mr.. Rob-
erts' two terms the heirs OF his bondsmen
could be held responsible for 1t.
With the exception of silver coin, each
piece of money In the twelve vaults will be
handled separately by the fingers of ex-
perts. The $154, 100000 of silver money win
be taken from the vaults in bags of 1000
coins. There being a standard weight for
each sack, corresponding number of
pounds and ounces will be already resting
in one pan of the scales used by the COM
mittee Then the bags will be placed, one