New-York tribune., 1880-10-04
THE rrENURY IS GUcHlNlyLEF IT.

I
| 80 MONEY TO PAY SOLDIERS SAILORS. CONTRACT
ORs AND OFFICIAis-ProPLE DENANDING FROM
u To SO PR CENT OF MONEY LOANED THE
| GovEENMryr-A BRGGARcD COVERS MENr.
lBr TELEGRAPH THE rEiBCNg.l
WASHINGTON. Oct. 3.-Thc desperate condition of
the finances If the United States at the close OF
Buchanan's Administration IS shown BIZ letter OF
the last Democratic Secretary Of the Treasury. COM
munioat.d 10 tie Committee on Ways AID Means
on the 18th day of January. 1861. The striking
difference IN the condI ion Of ahIlrs then and now
! is strong argument agaluj5 change III the Gov
! crnnent.
! The letter was written by John A. Dix then Sec
| rctlry Of tho Treasury. 10 Mr. sherman, VINO was
then IN the House of Representatives, aud chairman
OF the coniml tee above referred to- It was drawn
out by inquiries submitted by Mr. Sherman. Sec
retar states thar on the 1st ofJanuary, 1861, the
treasury did not aave tie means pay the claims
/ against IL. There had accumu ated in the hands of
the Assistant Irea surer at NeT-fcrk warrants for
S43O. 600 winch he WAS unable to pay Besides
tins deficit there another growing out OF the IN
ability OF the Treasury 20 pay the soldiers sailors
/ and officers Oi the Army ana the Navy and many
! contract claims and Government salaries After
explaining that the military and naval branches OF
the service are Uad through dsbursng officers the
! So cretary says:
] Rec
Wa av0r o. sodc-ln- nh,ers Ot thdt DrAi tieAt
amounting t. S9l2.905 % irom the secretary II ;he
amounting 10 SOI3,t>I Il; tom ne secretary OF tne
Tut,wOf ID idvnro il-nur-nS uhcers oi t1tt Depart
lu.IuguI OF tuc Iioaurf Department amounting 10
S2J5 4J ~ IN vor Oi ds0 lt>l2 ohr2 M contract
Og-; mako Z an ag1f tle az -I''V>o3) O0' Ir "-tcH
warrants have issued. lue peri'is WEcn the
sums called tor were actually due and payable can
several cas- 5, supposed tuA- tie whoe aLnoult
! was due or before tae lot INST
i..vf q ~
/ II ~ understood tIL tie WaT and Navy Departments
Fave ls or large amounts, Tor which lcr Isqusi-
tuuus been dcaytd on account Ok .le exhausted
/ CONDITION OF the treasury.
Besides ta-se c.aiAs 3oultes payable BY law 70
vessels emp Dyed toe cHd a,r duri the ast sea
due payable ou tnr 3lst AZ Detailed est-
niei 20 Cone.t.r o tAe several dis llcts nave
been received showing t. anon q Ie ana "a, ADr on
tGai day have oecl oli1-Jl - ihi' Dep1r -ineht
nas been Iuabe 10 maze aIt provision ior tayaS tI-se
bIuutcs for waut OF ruM ent money ID she Iiraslri'
Adding thl> sum {" thr oteEoH- iHe .-~Ie~"" o. -il"'
dur and uaya1- o Jr before TIE Ist ms, may DC taken
/ u be @-.3j5.93 81.
The secretary r.at,s the story Of the trouble ex-
perlsnced IN selling % .00O 0OO Of Treasury notes
III Nes-YugA Cry 10 protect Jne credit Of The Gov
ernment Tnev were offered at - per cent interest,
| vet onIy 81 s3I l. OGO Gl thea were sold Oilers to
take ~46j 600 az from - to 80 per cent interest
were rece we'd bus were rejected. The Assistant
Treasurer at NcW-I0rk finally lnauccd the hauk5 20
take the whole of tie BJ,OO0.OO0 NJ - per cent,
| through the Bank Of Commerce Tue Secretary
then continues
The am,rut required meet the outstanding current
and acruLg dues before the close 0t The current fiscal
ycdr besides ad iOnai charges on Tue IrtasuTy
created leg -idou uruE tie present session OF Il
g.e-, is S44 O-7.J34 G3 TAe cSsiag means Tor Nee
ing uis amount 4.-: ~ Iue balance Ui The Joan 0t
81 OOO,O d act Of Jun y 1850 Tor re
dpem.g Treasury uOtrs. o. tlls iOan S1U22OOO only
! negotiated paid irtVuI
SI3 3o-, 900 10 be al zed from tuat source -noud
the pesrAt disturbed condition Of the country tnue,
mJd.icttllu O Jlc terms prcscrlueI OY tbc act
may possibly be necessary 10 n ke tht residue or TINS
loan available II Mt be- improper 70 adj tHat,
wnep IL, 60 mate. referred CO were submitted,
no iculy apprehended iu meeting the outstanding
Z Treasury notes ftst they Ieh due oy the
As resource Bas lalled 70 The
extent OF the tDove-Sta balance OF 3.J1cOOO 20
preserve credit TIE United states, nd- become
n,.ispeusIUle 70 these notes OuC or tie venue
from Otner During the iast quarter about
Treasury notes were redeemed, y ulcu,
win If - 100000 redeemed since the lst inst, make
5000 900. Tie amount received rom the Odn DeIug
a sl.u4l traction aJuve S7.o0OOOO threw upward OF
%50O 600 these note, Oh tut ncr resources o tne
rea-ur, redemption. I-ls - one o the principal
causes Gelay ana difficulty whch have recently
occurred ia providing -or otner denhnds VI TIE p'c
I Il