New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-12-04
TILE DEBT ST1TENENT.

The diminished reduction of debt in NOvem
her was anticipated before the month began.
Though the amount 1884, 143, is smaller
than in any other month for some years, there is
reason to expect chat the large expenses and
the shrinking incomes OF the latter half of the
fiscal wear wall make the reduction compare
lively small from this time. The payments for
pensions were large last month, but large
proportion of the 100000, 900 appropriated
for the current fiscal year has yet to be spent.
though five of the twelve months have passed.
The larger expenditures under the River and
Harbor bill, and for the erection Of public
buildings, have yet to come, and Congress is
Just beginning again to waste public money IN
needless talk and printing. Then the eXpccta-
ton of a change in the internal taxes may make
a great difference iii the revenue.
The debt statement does not tell the whole
story any longer. In November it would seem
from that statement, only S2,O43, $50 OF called
bonds and other old obligations were redeemed,
and there WAS practically no decrease i'll the
amount of debt bearing interest But the fact
is that somewhere from $15000,000 to
500 600, 900 of bonds were redeemed, though
lust how many cannot now be aSccrtalned. The
statement telegraphcd unOllcially from wash
ington on Saturday, compared with similar
statement of October 2S, shows that diIlng the
five weeks s., OG3, 800 of the bonds covered by
the 116th, 1I7th and 1lSth calls were re-
deemed ard about 100000 Of other called
bonds. while it is not stated what amount II
any. of the 10th call has been presented under
the order TO anticipate payment. But 1t Is known
that in addition to the bonds above named
.nI NM lor
the fiction of antcip ting call which the Sec
rotary took pains not to make. Hence 1t Is not
n surprise to lind that the Treasury reports OF
cash on hand include 500, o6O,5 36 United
States bonds and interest, nearly $lIOOO,OUO
more than were reported as part OF the cash
November /. In effect, the Secretary seems to
be holding these bonds until they shall have
earned the interest which has been prepaid on
them. Until that time they will seem to be
drawing interest, and will be included in the
debt. whereas they are really redeemed and
cancelled already for all practical purposes.
The statement of gold certificates outstanding
is also calculated to misead. The debt state
ment reports $35, 4O8, $40 of these certificates
rs outstanding at the end of November and the
statement of the Treasury here, where they are
all issued, was $50, 100000 on the night OF
Wednesday last, but among the assets OF the
Treasurer appear 5,95O,27O OF these certlii-
Gates. Hence the amount held 10y the public
was only $19,45S,2 7O, and the increase during
the past month about $S,OSS,OOO AS the
amount of gold in the Treasury is only
81 62 900 more than 1t was November l, the
amount belonging to the Treasury has de-
creased about So, 100000. The increase in the
amount of silver certificates outstandng-abOu
81. 700 O0O-is another singular feature OF the
report, for the amount OF standard silver dollars
in the Treasury increased only $525,O0O,
though 81, 300, 900 were coined. The urgent
demand at this season for all kinds of currency
is shown in these statements, and the fact that
the bank circulation nevertheless decreased
S157,1S9 during the month, while the deposit
for the redemption of bank notes increased
S3OS, 744 is evidence of the need ofspeedy leg
islation to enable the banks to issue circulation
upon four per cent bonds in a reasonable pro-
portion to their market value.