The propriety of defining more specifically and of regulating by law the
exercise of this wide scope of Executive discretion has been already
submitted to Congress.
A change in the office of collector at one of our principal ports has
brought to light a defalcation of the gravest character, the particulars
of which will be laid before you in a special report from the Secretary
of the Treasury. By his report and the accompanying documents it will
be seen that the weekly returns of the defaulting officer apparently
exhibited throughout a faithful administration of the affairs intrusted
to his management. It, however, now appears that he commenced
abstracting the public moneys shortly after his appointment and
continued to do so, progressively increasing the amount, for the term
of more than seven years, embracing a portion of the period during which
the public moneys were deposited in the Bank of the United States, the
whole of that of the State bank deposit system, and concluding only on
his retirement from office, after that system had substantially failed
in consequence of the suspension of specie payments.
Pages:
509
510
511
512
513
514
515
516
517
518
519
520
521
522
523
524
525
526
527
528
529
530
531
532
533