The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1891-05-06
Washington Letter.
[From our Regular oOrrespOndent. ]
WASHINGTON, d. c., May, l IL!

WASHINGTON, D. c., May, / 1891.
Secretary Foster does not believe II
mystifying the people as to the fnancia
condition Of the government, which II
more than could have been truthfully sale
of some of his predecessors, He does no
entirely agree with the recent statemen
made by Director OF the Mint Leach
showing that the government has now OF
hand in available cash, that is cash tina
can be used TO make any necessary pty
ments, $25S,OOO,0OO, He says on this very
interesting subject, II guess he (MrLeach
is about right in the main, although
think It is matter that may well be dis
cussed. should haye stated ii different
ly If had been writing 1t. should have
said that some of the $s5S,OOO, 900 Of avail
able cash might be regarded as trust funds
might be, say. 1t would be correct to
say that about $70OOO,OOO is un
doubtedly available cash - that is, about
$2s,0O0,0OO in the banks, $21 100000 Of
subsidiary coin, 100000 in trade dollar
bullion, $12,0OO,OOO of current cash and
$5,0OO,0OO in silver against which no Ger.
tifcates have been issued.
"As to the 800, 10000 of gold reserve.
1t is held against the $s5O,OOO,OOO green
backs TO make the credit of the govern.
ment impregnable, for no one would be
able to get together enough greenbacks to
take all the gold out Of the treasury and
therefore they do not take any. But these
notes are legal tender and the government
can and would use this gold reserve II 1t
we're needed. 1t should, therefore, appear
In the debt statement as available cash.
Now, as to the redemption Of the AZ per
cent bonds. l am thinking of trying to
substitute 2 per cent. for them, as Mr..
Window proposed. II it can be done,
there will be two advantages in 1t over the
redemption. To be able 10 float 2 per
cent bonds will demonstrate the extraordl-
nary soundness Of the governments credit
and the money that would be required to
redeem the 1875 may be used for the
purchase Of As at a saving Of 2 per cent"
1t need not surprise anybody for Mr.
Blaine to make public at any time a state.
ment over his signature positively forbid.
ing the use Of his name as a candidate for
the presidency and announcing himself In
favor Of the denomination Of the presi
dent. Only two things haye prevented his
doing so before this. President Harrison
has not decided whether he wishes tC
again become the candidate Of the party
and Mr.. Blaine has not considered him
self as In any sense or under any circum
stances a candidate, In fact IL is vel
known TO his friends that he does no
wish to be president. Mr.. Clsrkson, thu
newly elected president Of the Nationa
Republican league, was in town this weel
and he expressed himself as believing
that everything was tending toward tn
denomination Of President Harrison b.
acclamstion, unless he should decline b
allow his name to be presented to the cor
vention.
The rather late objection to receivin
ex-senator Blair, as our minister filet
with the state department by the Chimes
minister was surprise, although II ha,
been expected when the appointment wa
first made. OF course, Mr.. Blair wi
not be sent to China in the face Of this oil
lection, baseless as 1t is; but he will b
given some other diplomatic appointmer
possibly minister to Japan,