St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-08
FIGURING AWAY THE DEBT.
How Secretary Window Conceals
the Treasury's Condition.

the Treasury's Condition.
The correspondent of the New York
Times writes, July 80: On Aug. the
secretary of the treasury will issue a
new form of statement of the public
debt The present form of statement.
the last number of which was issued
July l. was adopted under the last adj
ministration, and at the same time the
treasurer's statement was changed to
conform with the ideas of Treasurer
Jordan. This statement, too, is to be
issued in a new form.
The debt statement is to be shown on
a broad sheet, of the same proportions
as that which has been in use. 1t will
also have six subdivisions as now.
Under the head of Understanding
debt the items will be three, the navy
pension fund and the Pacific railroad
bonds being taken out. The column
showing the accrued interest" is
dropped. Under the second subdivision
head of ''debt on which interest has
ceased since maturity" the secretary
gets rid of two columns showing the
interest due and unpaid and the accrued
interest, it appearing to him that these
figures have been misleading to all eX-
cept to those very familiar with the debt
statements. Under the head of ''debt
bearing no interest" there will be a
change. the gold and silver certificates
being removed. These appear under
the head of certificates issued on de-
posts of gold and silver coin and legal
tender notes." and, in three columns,
will show the amount of gold, silver and
currency certificates in the treasury,
the amount of circulation and the
amount issued.
The comparison of the debt with the
preceding month"; will include among
its items the Understanding debt, eX-
elusive of Pacific railroad bonds and the
$50, 00G. 900 or thereabout of the national
bank redemption fund. The leash in
the treasury" will include the funds re-
served for redemption of United States
notes, gold and silver certificates and
currency certificates issued and accrued
interest. AS available for other pur-
poses'' are mentioned the fractional sill
yer currency and minor coin mot full
legal tender" and the net cash balance
is made to include the national bank
redemption fund deposited in the treas
ury under the act of July ID, 1890.
The secretary gets rid, by his rear
rangement of the debt statement, of
ABOUT S(S,UUU,UUO heretofore cOnSlQor0u
as Indebtedness, gains the S55, 100000 re-
demption fund, and is enabled in that
way to show very much more comfort
ing condition of the finances than would
have been possible if this expedient had
not been resorted to. The navy pension
fund, it is said, is only "a bookkeeping
item," owed to nobody, and the interest
upon it is provided for by appropriation.
The Understanding debt will be de-
creased about as rapidly as the net cash
in the treasury is increased. The avail
able surplus will jump from about S337.-
100000, July l, to about S110, 100000 Aug.
l. That will encourage Mr.. Struble TO
make another attempt to get his public
building bill through, and may save the
river and harbor bill.
Altogether, it is to be statement that
that ought to enable the speaker Ito let
up on the b'hoys'' to very generous ex-
tent. The country will not have a cent
more of money than it had month ago,
and its income will not be greater for
the year; but it will have found money
to spend that it did not think a month
ago it was at liberty to use.