with the records of the Loan branch of the Secretary's and Register's offices, and if found correct the bonds are deliv ered to a committee, representing the offices of the Secre tary, Treasurer, and Register, for destruction. Schedules containing a complete description of each security are made out in duplicate, one of which is delivered to the committee, and the other retained in the Register's office.

698. The record of this division contains the evidence by which error, mistake, or fraud in the issue, redemption, or exchange of the national securities, or in the payment of their interest, may be readily detected; for it contains a pertinent description of each bond redeemed or exchanged, and of each coupon that has been paid.

IV. THE NOTE AND FRACTIONAL CURRENCY DIVISION.

699. In this division the redeemed fractional currency, United States notes, and the national-bank notes of such banks as have suspended business and settled their accounts with the Treasurer are examined, counted, and destroyed.

700. The process is somewhat similar to that in the Note and Coupon Division, before described, as regards interest-bearing notes. The fractional and other notes are cut in halves in the Treasurer's office, where they have been redeemed or received from the various sub-Treasuries. The upper halves of the United States and nationalbank notes, and the right-hand halves of the fractional currency, are received from the Treasurer's office by this division, the remaining halves being sent to the Loan and Currency Division of the Secretary's office.

701. These upper and right-hand halves are carefully examined, arranged, counted, and put up in packages by this division of the Register's office.

702. The count previously made and scheduled in the Treasurer's office is verified, and a complete record is made.

They, together with the remaining halves which have been arranged, counted, &c., in the Secretary's office, are subsequently destroyed, by maceration, under the supervision of a committee who witness the process and certify to the result.

703. Besides these redeemed notes and currency, this division receives notes and securities prepared for issue which have been mutilated or defaced in the process of manufacture, or that have not been carried into the cash account of the Treasurer, and destroys the same, under similar checks and safeguards as those before described.

V. THE TONNAGE DIVISION.

704. In this division the title is recorded of property in ships and vessels nationalized by the United States. For this purpose all reports of collectors of customs of the registry of vessels in their respective districts, together with copies of the certificates of registry granted, are received and entered; also all reports or returns showing a change of name of vessels or of their masters. It receives also all statistical information from the numerous ports touching the merchant marine of the country; all information regarding the vessels engaged in foreign trade, coasting trade, and fisheries; concerning all steam vessels, sailing vessels, &c.; also as to vessels built, lost at sea, abandoned, or decayed. This and other information is reduced to tabular form upon the records, so that this division is enabled to show the total tonnage of vessels in the carrying trade, distinguishing between the foreign and coastwise trade and fisheries; also the increase or decrease of the tonnage of American vessels.

CHAPTER XVII.

THE TREASURER OF THE UNITED STATES.

705. The office of Treasurer of the United States originated in the act establishing the Treasury Department, passed September 2, 1789.

706. The general duties of this officer are to receive and keep the moneys of the United States, and to disburse the same upon warrants drawn by the Secretary of the Treasury, countersigned by the First Comptroller and recorded by the Register of the Treasury. In the performance of these duties he is required to take receipts for all moneys paid by him, and to give receipts for all moneys received by him, the latter to be indorsed upon warrants signed by the Secretary of the Treasury, without which warrant so signed no acknowledgment for money received into the public treasury can be valid. (R. S., § 305.)

707. He is required to render his accounts to the First Comptroller quarterly, or oftener if required, and to transmit copies thereof when settled to the Secretary of the Treasury; also to submit at any time the moneys in his hands to the Comptroller or the Secretary of the Treasury for inspection. (R. S., § 305.)

708. At the termination of each fiscal year all moneys represented by certificates, drafts, or checks issued by the Treasurer, or any disbursing officer of the Government on the Treasurer, or any Assistant Treasurer or designated depositary, to facilitate the payment of warrants or the liqui dation of debts due from the United States, which warrants, &c., shall be represented on the books of either of said

officers as standing to the credit of any disbursing officer, and shall have remained for three years or more outstanding, unsatisfied and unpaid, are required to be deposited by the Treasurer, to be covered in the Treasury by warrants, and to be carried to the credit of the parties in whose favor such certificates, drafts, or checks were respectively issued, or to the persons who are entitled to receive pay therefor, and into an appropriation account to be denominated "outstanding liabilities." (R. S., § 306.)

709. The Treasurer of the United States, as well as each Assistant Treasurer and designated depositary, is required, at the close of business on every 30th day of June, to report to the Secretary of the Treasury the condition of every account of disbursing officers, except in the cases mentioned in the section preceding, which shall have remained unchanged, or which shall not have been increased by any new deposit, nor decreased by any draft thereon, for the space of three years, on the books of his office; also to state in such report the name of each depositor, with his official designation, the total amount on deposit to his credit, and the dates respectively of the last credit and the last debit made to each account. (R. S., § 310.)

710. The Treasurer is required to lay before the Senate and House of Representatives, on the third day of each session of Congress, fair and accurate copies of all accounts by him from time to time rendered to and settled by the First Comptroller; also a true and perfect account of the state of the Treasury. (R. S., § 311.)

711. He is prohibited by law from being concerned or interested in carrying on the business of trade or commerce, or in any sea vessel in whole or in part, or in any public lands or public property, or in the purchase or disposal of any public securities of any State, or of the United States; also from taking or applying to his own use any

CHAPTER XVII.

THE TREASURER OF THE UNITED STATES.

705. The office of Treasurer of the United States orig. inated in the act establishing the Treasury Department, passed September 2, 1789.

706. The general duties of this officer are to receive and keep the moneys of the United States, and to disburse the same upon warrants drawn by the Secretary of the Treasury, countersigned by the First Comptroller and recorded by the Register of the Treasury. In the perform ance of these duties he is required to take receipts for all moneys paid by him, and to give receipts for all moneys received by him, the latter to be indorsed upon warrants signed by the Secretary of the Treasury, without which warrant so signed no acknowledgment for money received into the public treasury can be valid. (R. S., § 305.)

707. He is required to render his accounts to the First Comptroller quarterly, or oftener if required, and to transmit copies thereof when settled to the Secretary of the Treasury; also to submit at any time the moneys in his hands to the Comptroller or the Secretary of the Treasury for inspection. (R. S., § 305.)

708. At the termination of each fiscal year all moneys represented by certificates, drafts, or checks issued by the Treasurer, or any disbursing officer of the Government on the Treasurer, or any Assistant Treasurer or designated depositary, to facilitate the payment of warrants or the liqui dation of debts due from the United States, which warrants, &c., shall be represented on the books of either of said