Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1885-05-16
A Dreaded Accumulation not Found

- ~ GdA4EA FlGE4EIlL laLlCT not Found
lam glad to see that TIE TRIBUNE
occasionally reminds its readers of that
dreadful surplus upon which the Dem
Ocrats continued to harp down to the
very last day Of the Presidential Cam
palgn," Senator Plumb recently re-
marked. ''EOr the last dozen years he
continued, it has been the fashion of
the democratic newspapers and for
Democratic politicians in Congress to
lind fault with the monthly statements
or the public debt issued by Republican
Secretaries Of the Treasury, and to
charge that they were Wilfully designed
to mlslead the people and conceal the
true condition of the Treasury. Over
and over again during the last cam
Palgn did Mr.. Hendricks and other
democrats assert that the wicked Re
publicans had accumulated IN the Treas
ury an enormous hoard of money,
amounting TO some $500, 0OO, 900, be-
longing to the Taxpayers of the cOun-
try Mr.. McCUlOck certainly did not
carry away any Of this enormous sur
plus before lie Turned the Treasury over
70 MIR. Manning, and none of it has
been used 20 call in United States bonds
since last September, and vet, accord
ing to the debt statement issued on Fri
day by Manning, the net cash balance
IN the Treasury was only $50, 957, 42l -
81. ''Wh has become Of the remand
er OF the enormous surplus? But there
IS another feature OF this debt state
menJ which deserves notice. The Sec
Rotary cerCities that the decrease of the
public debt during the month was near
iy S6,UUU,OUO- 1 suppose that may
mean that the cash IN the Treasury has
. fVnraaznH and o IT1F hi
of interest diminished enough alCOge.h-
er TO make up that amount, but most
people will take it to mean that so much
Of the lnUerest-DeGring debt has been
paid. Now you Will find that the poll
icy OF ''hOarding of which the Repub-
hcans were falsely accused, is exactly
the one which viii be pursued by this
administration just as long rs possible.
/ 1t has already begun to exert an infiu-
/ ence on the price of three per cent
/ bonds. These bonds are subject to call
/ bus the premium upon them has ad-
! Yanced from / SIS to 5-S per cent
/ within the last mOnth. That of itself
/ indicates that the holders of q per cents
feel assured that the policy of Mr.
Manning viii be To postpone as long as
/ possible the issue Of new call for
bonds. There is no telling how long
that may be, considering the expert
|jugglery exhibited by the new Secretary
and his treasurer"
A comparison of the debt statements
for March and April shows that among
the items which compose the 81, S37, =
S59, Il under the head of decrease OF
the debt during the month" are the fol-
lowing:
/ Increase Of net cash in Treasury, ST.
698 ,395; decrease OF liability on interest
account, $2,419, 27704; amount paid on
account Of principal and interest of debt
upon which interest had ceased since
maturity, $209, 439 20. By treating
fractional silver and minor coin in the
Treasury as s'unayanable' assets q new
element of ttuctuatiOn Is introduced into
the debt statement, which directly af-
J tecEs the net balance in the Treasury.
; The amount or fractional silver and
: minor coin on hand on March 81, was
) S3l, jO6,37 II; on April 80 it was S3I,
S37 1886 50, an increase of 1926, 219 II
, which reduced the net balance by tha
? amount. 1t IS noted that under the
, head Of increase in the reconciliation
p appended to the revised debt state
ment issued on Friday appears the iden
1 teal item - 3, 1916. 339 (which il
/ another part OF the same Statement
|. figures under the head Of - decrease o.
debJ during the month" Even some
Treasury officials who are concerned il
- the preparation of the debt statement
} find it somewhat difficult readily to ex
plain the reconciliation"