From Ifaci No. ?.

THE UB-TREAsURY-WHAT IS IT:
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IHE UB-IREASURH-WHAT IS IT

 ,4 Treasury is pzace mhcre treasure is kepi

 The Constitution of the United States says, that ''.Nio money shall De dra,cn from the IreaSUry but in consequence of dppropria- lions made 6y ld1c; and yegH7ar statement and account Qf He receipts and expenditures of aH public money shaI De Pa5liShed from lime 10 tjme.o

 The obvious meaning of this provision is, that the " receipts" or money received, shall go into the Treasury and remain there, until drawn out by the authority of law, when 1t becomes an :. expenditure" and the object of the published < regular statement" is, to en- able the people to understand how much has been received how much has been eXpend- ed, and holr much remains in he Treasury

 The object was, that the public money should be kept for public uses legaljzed .6y Congress, and not applied to pricate or oa- authorized uses,

 When the government was organized un- der the constitution, Treasurer was appoint cd to receive the public money, carefully to keep it, and 10 pay 1t out only "in conse- quence of appropriations made by law.n He gave bonds and entered upon the discharge of his duties. The Collectors who also gave bonds, were a sort of Sub-treasurers. Nei- ther they nor the Treasurer paid out public money except in pursuance of appropriation and Treasury Warrants.

 But there was class of men who desired to obtain the public money for pricate uses. They did not like this system which kept the money in the Treasury for the public only; and they set themselves to work to overthrow it. An ingenious plan was hit upon to abol- ish ttc Treasury, make the Treasurera book keeper only and take the money which should be in the Treasury for the use of merchants, spectators and other borrowers.

 The plan was to hand over the public mo- ney to Ranks, not to be KEPT, but to be LENT. Ii was called Deposite in Bank and the Treasurer's Books showed heavy sums in the Banks, when in fact Mere 'cas