"The public treasure has been duly applied to the uses to which it was appropriated by Parliament, and regular accounts have been annually laid before Parliament, of every article of expense"

This quote by Robert Walpole is referring to the use of public funds. He is stating that the public money has actually been utilized for the functions that it was designated for by Parliament, which a detailed account of how the cash was invested has been presented to Parliament each year. This suggests that the government is being transparent and responsible with making use of public funds, and that the money is being used for the purposes that it was meant for. This is important as it guarantees that the public money is being utilized responsibly and that the government is being held accountable for its actions. It also shows that the federal government is taking steps to make sure that the general public funds are being utilized in such a way that is useful to the general public.