Evening star., 1912-11-15
AWAITS MR.. H|L[ES
Thompson Becomes Treasurer
When Chairman Returns.
MONEY MUST BE COUNTED
Uncle Sans Funds Never Estimated
When Change Is Made in
Custodians.
MONEY MUST BE COUNTED

Owing to the fact that Charles d.
Hilles will not be ready for week
or ten days to leave his work In Ne"
York as chairman of the republican
national committee and come to wash
ington to relieve Carmi Thompson as
secretary to the President. Mr.. Ihomp-
son is not expected to become treasurer
of the United States, in succession to
Lee McClung, for some time.
Mr. McClung, whose resi- gnatlon as
tire asurer of the United States was an
nounced yesterday, has made,no plans
for his retirement, awaiting the pleas
ure of President Taft and his successor,
Carmi Thompson. .4l..
It will be necessary for Mr.. Thompson
to file bond for S150.000, which must
be approved by the Secretary of the
Treasury. AS soon as this is done the
Secretary Will appoint committee OF
two persons and the incoming treas
urer, a third person. who will physical
ly count the money Mr.. McClung Will
turn over to Mr.. Thompson. This bond
Constitution 1t has never been
changed since 1888.
Money Must Be Counted.
The United States money in the
Treasury must be actually counted.
It is never taken for granted that 1t
is there, and packages are not estl-
mated to contain sums. actual handling
of each piece Of money, except new Sill
yer dollars, being necessary.
This Is so for the reason that incoming
treasurers requi to be protected, mas
much as under their bonds they and their
bondsmen and their heirs and estates
and the heirs and estates of bondsmen
are held liable to the United States for
ever for any shortage which may ever
be shown to have occurred during the ad-
ministration of any particular treasurer.
In the case of new silver dollars, they
are counted by weight, as containing so
many pounds of silver dollars. All other
money is handled, piece by piece
Amount to Be Turned Over.
When the late Charles H. Treat turned
over to Lee McClung, on November !,
1909, the money of the United States. Mr..
McClung signed a receipt as having had
given into his keeping the sum of ST.
26O 13I j 9i6 IS and two-thirds OF cent.
This will be verified by Mr.. Thompson,
and Mr.. McClung must also turn over to
hiw now an additiona. sum Of about
500 100000 which has since come into
the possession of the treasurer Of the
United States.
The two-thirds of a cent which Mr..
McClung must turn over to Mr.. Thorn p
son is part of bond. 1t is represented
In q bond Of the state of Tennessee.
The United States is custodian of GER
tain bonds which formerly belonged to
various Indian tribes. but which now
belong to the federal government
Among these bends are some of the
state of Tennessee. amounting to $685.
666 Sc 2-3. The two-thirds Of cent
| is caused by one bond for s66666 2-3,
which is two-thirds Of $1,000. The rec
II l1 V1nt
show why this particular bond was is
sued for that sum
Various Government Funds.
| In addition to the sl0o,O0OOOO which has
come into Mr. McClung S possession since
| he became treasurer he must turn over
| to Mr. Thompson the following funds re-
| ceived from Mr. Treat:
| United States notes, $611 Az.
| Gold certificates, $2,232,1 ,1O.
| Silver certificates, S1,S12, 749.
| United States currency in process of
redemption, S4SS.USJ.
| National bank l.otes in process of re-
| demption, $l5, 723 III.
| Gold coin, ,t,9l2,3
Standard silver dollars, $156521, 81.
| Subsidiary silver, $676, ,23O.35.
| Minor coin, sI9.S19.23.
Treasury transfer account. S94.079, ,961. "a
| United States paper currency In re-
serve, $242, 40, SEQ.
Incomplete gold certificates, series 1900
| $4,000.
! Bonds and other securities held in
trust s735, 625 O32.:2 2-:'.
| Total 81, go 1874, ,9i6 SS 2-3.
| OF course, there have been changes In
such items as currency In process OF re-
/ demption. standard silver dollars or
hand. the Treasury transfer account, etc.
4 and in these cases Mr.. McClung will be
| required to turn over to Mr.. Thompson
| the equivalent to make up the total OF
| what he received from Mr.. Treat plus
| s1OO. 600 900 he has since received.