Tag Archives: U.S. Treasury
It appears that on the 31st. Mar. 1800. a paiment of cents & half cents was made into the treasury, which raised the whole amount paid in to more than 50,000. D. and that the Treasurer ought then forthwith to have announced it in the gazettes. consequently it ought, now that the omission is first percieved, to be forthwith announced … to avoid the appearance of blaming our predecessors within whose time the omission happened, I would not specify the date when the sum of 50,000. D. had been paid in …
To Albert Gallatin, April 10, 1803
Patrick Lee’s Explanation
Smart leaders quietly correct another’s error and move on.
A 1792 law provided for an announcement in the newspapers whenever the U.S. Mint had transferred more than $50,000 in pennies and half pennies to the Treasury Department. That threshold was reached eight years later, in President Adams’ administration, but the public notification was not made. Albert Gallatin, Jefferson’s Treasury Secretary, discovered the omission and asked his boss how he wanted to handle it.
Jefferson said the error should be corrected, but he didn’t want to lay any blame on Mr. Adams or his staff. Thus, he directed his Secretary to announce the threshold had been reached but make no mention of when it happened.