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tion by Congress. Any mistake in depositing, either by accident, by excessive amount, or erroneous payment, is, after this process, beyond the power of any officer of the Government to rectify. The money is absolutely in the Treasury, under a seal that can be broken only by act of Congress. It now goes into the general fund, and is charged to the Treasurer of the United States, who is responsible for its safe-keeping.

368. These warrants, both the pay and the covering-in warrants, are in a great variety of forms, over seventy in number, having the same general expression, but characterized by some reference to the particular branch of the public service to which they respectively pertain.

369. As indicative of the amount of labor expended, in the Division of Warrants, Estimates, and Appropriations, in this branch alone, it may be stated that the warrants issued during the fiscal year ending June 30, 1878, numbered 34,401.

370. In addition to these appropriation accounts, and the preparation and issue of the warrants described, this division has charge of the preparation of the public-debt statement and of the daily statement of the financial condition of the Treasury. It also keeps the accounts of the sinking fund, the interest account with the various 'Pacific railroad companies, and prepares the tables relative to the . finances to accompany the annual report of the Secretary of the Treasury.

371. Upon this division the Secretary must rely for the· accuracy of the accounts of the entire receipts and expenditures of the Government, and for an intelligent understanding at all times of the state of the public funds, of the ability of the Treasury to respond to the demands of the public credit, and, in a word, of the exact financial condition of the nation.

372. The importance of this division, and the great responsibility attending the duties to be performed, is apparent. Not only so, but it has received the deserved recognition in these respects of Congress, in the act provid ing for the reorganization of the Treasury Department, by distinguishing it from among the other divisions of the Secretary's office with a name and character of its own, and its chief with a salary exceeding that given to the other chiefs of divisions in that office.

II. DIVISION OF PUBLIC MONEYS.

373. The act of Congress of August 6, 1846, laid the foundation of the present system of the safe-keeping and disbursement of the public moneys. For a period previous to that act, the public moneys were deposited with such of the State and Territorial banks as were selected for that purpose by the Secretary of the Treasury. Through the wise legislation contained in that act, they were thenceforth to be kept separately from the moneys of the banks, in the Treasury of the Government, constituted of the Treasurer, Assistant Treasurers, and public depositaries. This separation of the public funds from other moneys in circulation gave rise to the designation "Independent Treasury." It was not until the establishment of the national-bank system, in the year 1864, that public funds could be again deposited in banks. But this was authorized under a very different system as to accountability and security. These banks are the creatures of the General Government, with a circulation of equal security with the issues of the Government itself, because such circulation is based upon the deposit of United States bonds, and in reality upon the credit of the nation. Certain of them are designated by the Secretary of the Treasury as United States depositaries, upon the deposit likewise of Government bonds as security for the safe

keeping and prompt payment of the public funds on deposit with them. Under regulations prescribed by the Secretary of the Treasury, they may receive on deposit all public moneys, excepting those derived from customs. (R. S., § 5153.)

374. The principal duty of the Division of Public Mon- . eys, in the office of the Secretary of the Treasury, is to keep the accounts of public moneys deposited with the several Assistant Treasurers and numerous designated depositaries, to classify the deposits, and to prepare lists of the same indicating the classification to which such deposits belong. In the performance of this duty, that division, through the accounts thus kept, is enabled to provide a check upon the numerous depositaries, and to afford ready information. to the Secretary at any time of the resources of the Treas

ury.

375. Upon the deposit of public moneys, these depositaries are required to issue to the officer of the Government, or other person making the deposit, certificates in duplicate or triplicate; and the depositor is required to transmit the original at once to the Secretary of the Treasury. Collectors of customs, collectors of internal revenue, receivers of public moneys, living in the same city or town with an Assistant Treasurer or a designated depositary, are required to deposit their receipts at the close of each day. Officers at a distance from a depositary, so that daily deposits are impracticable, may forward their receipts for deposit to the depositary as often as they amount to one thousand dollars, and at the end of each month, without regard to the amount accumulated. Moneys received by district attor neys, United States marshals, and clerks of courts, derived from customs and internal-revenue cases, are required to be paid by such officers to the collector or surveyor of customs, or collector of internal revenue, of the district in which

the case arose; and moneys accruing from post-office suits must be deposited to the credit of the Treasurer of the United States, for the use of the Post Office Department.

376. Besides the certificates of deposit before referred to, this division receives from the depositary transcripts of deposits and payments, which are required to be transmitted to the Secretary of the Treasury by the Assistant Treasurers daily, and by the national-bank depositaries weekly. The certificates of deposit and the transcripts just mentioned are compared, the two acting as checks one upon the other. They give to the division also full details regarding the deposits, thus enabling it to prepare with the greater certainty the statements sent to the Division of Warrants, Estimates, and Appropriations, from which the covering-in warrants to place the moneys in the Treasury are made up in the lastnamed division by a process already described. Upon these certificates and lists, also, the amounts of the deposits are placed to the accounts of the several depositaries.

377. Besides the numerous accounts with individual depositaries, this division keeps an account showing all moneys deposited which have not passed into the Treasury by covering-in warrants.

378. This division is also charged with the business pertaining to the designation of depositaries, and the acceptance of proper security from such designated banks or depositaries for the public moneys authorized to be deposited with them. It also prepares for issue by the Secretary the necessary rules and regulations governing these depositaries in their receipt, safe-keeping, and prompt payment of the public moneys, and in their other business transactions with the Treasury; and it gives direction to the officers of Government, excepting postmasters, as to the time and manner of making their deposits with such depositaries, as well as all necessary instructions for enforcing

speedy presentation of all Government drafts for payment at the place where they are payable.

379. This division also directs, in certain cases, when necessary or expedient, the place where disbursing officers may deposit their funds. Such officers are required by law to deposit all funds intrusted to them for disbursement with the Treasurer, Assistant Treasurers of the United States, or with such other depositaries, in places where there is no Treasurer or Assistant Treasurer, as may be specially authorized by the Secretary of the Treasury. (R. S., § 3620.) These funds are thus placed to the individual account of the particular disbursing officer with the depositary, subject to his draft, for the payment of such of the public creditors whom he is specially authorized to pay, or who come within the scope of his duties as a disbursing officer. And it is likewise the duty of this division to regulate such deposits, and the disbursement of the moneys by checks of the disbursing officers upon the same.

380. This division also directs the transfers of public moneys, excepting postal funds, from one depositary to another, as in the judgment of the Secretary the safety of such moneys and the public convenience may require.

381. It also takes charge of the examination which the Secretary of the Treasury is required by law to make of the books, accounts, and of the money on hand of the several depositaries, and of the manner in which the moneys are being kept, to the end that uniformity and accuracy in the accounts, as well as the safety of such moneys, may be secured. This examination is required to be made by special agents, to be appointed, at a suitable compensation, by the Secretary of the Treasury as occasion may require.

382. The depositaries whose accounts and other matters are thus subject to the oversight of the Secretary through this division, are nine Assistant Treasurers, viz.,

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