The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1889-09-20
The PusLlc ACCOUNTS


eeersssry wind"sn Explains tho Appsr-
ens Increase IN the rublsc D~bt IA rho
M""ths of July and August Instead oe
m Increase ~ ~ pOt.oOI There WAS .
Reduction of n:o,0iO.isO 1t n tho r~-
cniiar Method ~ Hook Keeping that
Makes the Adverse showing.
WASHINGTON. sept. 10 Secretary Win
dom. IN an interview with repres snta.
tive q. the United Press, mad the follow.
ing statement in reply 10 certain news-
paper statements that during the months
OF July and August OF this year the pub
lie debt and been increased over seven
million dollars, while during The same
months In lSsS the debt had been do.
creased over eleven million dollars.
"These statements,' The Secretary said,
convey an entirely erroneous impress
sion. The fact is. as sSown by the books
Of the Treasury, that on the 3olh of June.
1883, the total amount of the public dehi,
including bonds OF all kinds. was >s,j.-
h3s 3ls, and on the 3lst day Of August IL
was only $s.5,i7s s07, showing reduction
OF S2o,slo.lS) during those two months.
The reduction during tho same months Of
last year was oalv about one third of that
amount. viz. =. 05i. a.o. The reduction of
the annual interest charges On the public
debt dnring the months ~ Iny ana An
gust lsss was only sol 3)l. 10. while tbs
reduction ~ the ANIMAL interest
charges during the Same months
this year was SS,5.GSj being
little more than three timss ,s
great reduction a. that OF last year. In
fact the reduction Of annual ntrre.i IA
tho public debt during tho last twc
months has been elulled by only few
periods in the couatry's history. notably
IN President Garnrld's Administration,
during tho iir>t six months of which The
annual interest charge was reduced So
3i,,ss. Tho erroneous newspaper con-
illusions above referred 70 arose. dorht-
less, from the peculiar form OF the
monthly statement o. the plbic debt
issued by this department.. ia which tho
amount OK the debt is given ''less cash in
the treasury" BY this form any in
crease ~ the cash ia the treasury shows
as an apparent decrease OF the debt. and
disbursements for any purpose ether
than the purchase OF bonds AT par salue
show an apparent Increase Of the lblc
debt. equal - the amount OF sncl. dis
bursemcnts. For instance. II tho public
debt were stated at $500. O)0. 0)) less cash
IN the Treasury and tomorrow $4,000.
600 should be paid out on warrants drawn
by the other departments, the amount OF
the public debt less cash in the Treas
ury would DO stated Tomorrow sassum.
iny no receipts at $4,000. 900 rotwith-
standing the feet that the entire 30. 0)0.-
900 so drawn out may still BE- in ths
hands ~ the bonded disbursin9 officers
Of the other dcpartm snts. and to I'll in.
tents and purposes as much OF tr- gov
eminent as II it were in the vaults II the
Treasury.
Tho facts during the last two months
exactly correspond 70 this supposed case,
and though the actual reduction OF the
debt was S.0,alo $50. tho debt statement
showed an apparent increase Of -, 9)f 00l.
"Ihc increase Of Disbursements made
in July and August this year over July
and August last year il accounted for by
the fact that most 81 the appropriation
bills We're not passed In ISIS until SIP.
TENDER and October. aud the money was
not available except 10 such limited
amounts as We're permitted by tbs
continuance resolutions 81 Congress.
while in 1888 the appropriations fDr the
entire year vera available gu July 1.
Nearly all Of tbs departments drew in
July and August. and placed in the hands
OF their bonded dsbursng officers sums
for future use largely in excess OF the ex.
pendlturcs for t.oss months. Cne OF
them will have balances on hand from
such drafts OF fife million dollars after
the September pa 1ments have been made.
The largely decreasing purchases Of
bonds for the shaking fund during the
last two months, ,ver the corresponding
months Of last ysor, show an Increase ia
the premium psid o. Sa.jsj.92j a. All
these things hyur> in the last debt state.
menr as au incra ase in the public debt,
while in reality siey have nothing 70 do
with il.
II can readily SEQ how an honest mis-
apprehension may arise from the form
OF the monthly abatement. and therefore
have taken the trouble 10 make this ex.
PLANTATION. Similar apparent additions 10
the public debt are quite common. For
instance: In March. 1855 the apparent
increase was 49, $50; in November. 1875,
-. 900; in November, 1857. S1,39),OOO.
in November. 1855. SIl.19osl7 and il
February. 1859 S,4f33il.v