Arizona weekly citizen., 1884-10-11
Head on Finance.

In bis lecture last evening Oolonel Head endeavored to leave the impression upon his audience that through the fnaucial policy of the Republican party | over S4j0,O00.0OO were held uselessly in the treasury of the United States while the people were being op- pressed by taxation through internal revenue and customs to further increase that accumulation. In fact Colonel Head made the statement that 1t was uselessly held iu the treasury. II Col onel Head knows no better he IS not ht to Represent Arlzona III the halls of Congress, and If he does know better and misrepresented the matterfor pur- pose, be would be a disgrace 10 Arlzona in the halls of Congress.
 In his attempt to tell why he IS a Democrat be made the above statement as one of his reasons. The statement Is made from false premises in the first place, and in the second place Is abso- lutely false to the amount of about S3OO.OO0,0O0, Bs the statement Of the United States Treasurer made Septem- Der 18th will show:
 The total cash in the treasury, exclu- sive of minor coin II. 2, and cent lltEGEl tAAlOuAAH NO NAONsshCtteN bA@ C- this amount there IS held:
 I-FOr the redtmption ot bonds
 and pa. ment of interest past
 due. bat not yet presented------S 23,Uo,slS II 2-for the redemption or gold cer-
 tincates noS m circulHilol Act - .
 July l3 l3s2) )---- -------------- ss,5.S.u5o Vl s-Fcr the redemption of silver
 csrti6cRtes Tn ejaculation tAct -
 kshruary .s. l,7sl --------------- s5biO,5Sl " flor the redemption of certIn- rrsaN .sHnf NaTRs szHf a faf
 'Ts & notes 'Vq Gact June s' isi2j--. 1s,sisOO Q l 5-For dIsbursing oticerr, such a-
 s.e subject to iheiF elesks--- 27.i77,si9 O I 6-For drafts and checks of the | treasury not yet presented for 1 Ia, ment. many of which are m ! ffum-lt---------- ---------------- ssASfsp"e = The i've Ter cpnt fund for re- | dernptlon of national bank uotea. which fund is made up
 s SsnEs iRH pSS9Dfa tss9 Jane S s iss l27sslss | s-Fnr the reGemution of notes ot l national banks that hsve failed,
 gone into liquidation or reduc- -,, ;. Inp sirculaflo ol---------- .------- sc,toa,f--
 Be5f 5e,,-ss Secounis--.------..- @ -. S.5s9g7i I ! vaklne a total of money held for | special purposes, and therefore Tot available for payment other - .
 than as specified of------------SSN,s2S.eJl And leaving En aTllHb e cash bal ., :,
  | A c.ll ot bonds will mature on Sep tember 30. which will require for thel payment Sl0,O00,OOO.
 Of the amount of cash available, a
 above stated, S95,JO0000 was obtaine,
 by the sale of bonds to create fun
 for the resumption of specie paymen
 under the act of January II, 1875. The amount of the reserve on Gccoun
 of resumption has, as matter ot pru
 dent administration, been maintaine'
 by the Secretary of the Treasury a
 about Sl3S.O0O,OOO, or about 40 per cen
 of the amount of United States note
 outstanding, fixed by law at S3i5.6ol O16.
 By the above it appears that there SI49, ,152. .2l269 Tn the treasury, whlcl
 looking Ut the matter from Col. Head
 false premises, might be open to tn
 charge of "uselessly held" But sur
 pose that reserve fund were dissipated
 the proposition k preposierous! Moul
 any good business man conduct his ow
 bushes in such manner! Does Co Head conduct his business in the mar her he suggests for the United States
 If he did be would be a bankrupt ma before a year, es would any other mar IL is a principle of sound financiering [ have G reserve to fall back upon i emerGencies and he who is without | eldangers his credit. enlangers hl
 bu siness and generally falis by the wa,
 side, bankrupt.
 According to tine Treasurer's state ment. as above given, the amount ( available funds Is really reserve fC the redemption of United States Treai
 ury notes when presented and If It wei possible to present all of these notes fC redemption at once, the United State
 would actually be obliged to borro money to do so or draw upon some (
 the specIal funds above mentioned an thus only shift the danger to anotht point. . So far. then, is Col. Head estray ! national finances, either from dishonest or ignorance, neither of which will | excused by any community n ma |, who aspires to the highest honor in tt ! suffrages of the citizens of the Ter tory.-Phenlx Herald.
 Thursday $ report of the Democrat ! couuty convention gave the proceeding