Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-09-15
MILLIONS In CASH.
WINDOWS Fight Against that
Prospective Panic.
MONEY FLOWING oUTLIKE WA TER

A Call for Bonds That viii Exhaust the
Entire Surplus-A Months Operations
of the Treasury and the Total of Dis
bursements-House Republicans Adopt
Programme Which May BE Ex-
pressed in "Hustle"-Death of Quit
eau's Executioner.
WASHINGTON CITY, Sept. ia tele-
gram from New York says: Secretary Win
dom announced yesterday that he would
purchase SIG, 900 of per cent. bonds
and prepay the interest on between soO,-
OOO. 600 and $50, 0OO 600 of 6 per cents, in
order to relieve the stringency in the
money market. THE order was issued last
night giving notice that offers for the
bonds to be purchased will be received at
70 o'clock noon next Wednesday, Win
dom said last night that he had named
$40, 0OO. 900 as the amount of bonds to be
purchased because the entire available
surplus is now So, 000, 600, and the out
standing offers, including the last, will
consume it all.
Not the Settled Policy.
"The offer of 4 per cents, he says, is ex
policy of the administration, for with
this purchase, if it is made, the treasury
goes out of the purchase of that class of
bonds and will hereafter apply the cur
rent surplus TO the purchase of the AZ per
cents
The Treasury Not Hoarding Money.
"The secretary took occasion while here
TO demonstrate the falsity of report that
the treasury had been boarding money
since this time year ago, and made the
official statement that on Sept. l, 1882
there was of net cash in the treasury
s14l 600, 900, while at the same date this
year there were only 500, 500, 220. showing
that over S41, 900, 900 more had been paid
out in the past year than had been taken
in-in other words, that every dollar re-
ceived by the treasury since Sept. l, 1899,
has been paid out and over s4l, 900, 900 be-
sides
| A Statement from the Treasury.
In answering letter from Philadel-
phia banker as to the net effect upon cir
culation of all treasury operations during
the past month, the treasury department
has prepared the following statement
covering all receipts and disbursements
by the government during the period from
| Aug. Is, 1890, to Sept. Is. inclusive.
The Purchase OF Bonds.
Expenditures for purchase and redemp-
tion of bonds since Aug. Is, 1890, under
| circular of Aug 10, 2l, and 80, and for pre-
payment of interest under circular of
| Sept. g, 1890. Circulars of Aug 10 and 81
sci, 100, 600 Az per cent bonds redeemed,
nearly all at 1041S-S22, 0433 BIO Circular
of Aug. $3.50. lO3, 100 Al per cents. re-
| deemed at 1041s-s1O. 557, 1872 so Purchase
of 4's-s2, All ,4aO at l24 and 125-S3, 997 ,62S.
Other Disbursements.
Prepayment of interest-To and includ-
ing Sept. IS, &, S97, 724; September interest
on AZ per cent. bonds. 81, 1917, go. Redemp-
| ton of national bank notes, 81 500 00O
Total expenditures account of public debt,
| S41, 494 ,3le. 50. Payments for silver bull
ion, 81. 600, con Ordinary expenditures
| from Aug. Is to Sept. ID inclusive, S33
500, 1901 Aggregate disbursements, $751;
| 29G, 466. 81. Total receipts during same pc
rlod, including national bank redemption
| fund, 81, $40. 1901 Disbursements in ex-
cess of receipts for same period named,
s43, 956, 307 66.
The Assistant Comments.
Commenting on this statement Assis-
| tant Secretary Nettleton said last night:
| 1.-The item of ordinary expenditures in
cludes about $40, OOO, 600 of pension pay
ments, checks for which began to be
drawn Sept. l. This exhibit, supplement
ing the facts recently published respect
Ing the operations of the treasury, since
Sept. 1, 1889, conclusively answers the
mistaken assertion sometimes made that
the treasury either is now, or has recently
been engaged in absorbing and then
boarding increasing amounts of the
money of the country; and the other mis-
taken statement that the recent measures
adopted by the department to get money
out of the treasury aud into the channels
of business have borne but little fruit
What the Record Shows.
IAN excess of disbursements over re.
ceipts of nearly 81 900, 600 in thirty days
is the record. In addition to this accom-
plished result the department is ready to
disburse, if bondholders will accept, about
SO, 000, 900 under the secretary's second
call for as; also about sec, 600. 600 under
the offer TO anticipate interest on the 4 per
cents. and currency 6's, and about so,
600, 900 for the purchase of per cents. on
Wednesday next if rendered at prices not
CONFERENCE.-The In addition to ordinary
current disbursements and silver pur-
chasesh