When looking for controlled reserves during a period you subtract the bills discounted.
From my review on Amazon I did a long time ago:
I cannot know exactly what you mean by miscalculated figures, so I will take a guess at it.To answer to this that his figures do not add to the amounts he termed “controlled reserves”, Rothbard lays it out starting on 108: "Tables 7 and 8 are organized as follows. Bills Discounted, Bills Bought, Government Securities held by the Federal Reserve, and Other Credit constitute Federal Reserve Credit. Changes in Federal Reserve Credit (except for net reductions in Bills Discounted), plus changes in Treasury Currency, Treasury Cash, Treasury Deposits at the Federal Reserve, and Unexpended Capital Funds of the Reserve constitute the controlled changes in member bank reserves. The key thing when computing his numbers is you must subtract the negative Bills Discounted when looking for “total” controlled reserves in a period.
For example, when looking at Table 7 Period I, when you add Federal Reserve Credit (-996) + Treasury Currency, Treasury Cash, Treasury Deposits, and Unexpended Capital Funds of the Federal Reserve (112), you get -884, a long way from Rothbard’s “controlled reserve” of 462. However you must add back the Bills discounted (-1345), or just not add them at all to Federal Reserve Credit, (-996+1345) in order to get 461. And as Rothbard notes on, slight differences come from rounding, which is reasonable considering that all of these numbers are not even slivers of millions but have extra numbers attached to them. Do this only when the Bills Discounted are negative.
Similarly, when adding up uncontrolled reserves you must keep in mind the Bills Discounted. For example, when looking at Table 7 Period 1, when you add up Monetary Gold Stock, Money in Circulation, and Other Deposits, you get 1042, which is very off from -303. However, subtract 1345 from that and you will get -303.