Los Angeles herald., 1891-04-28
A PLENTY OF MONEY
The Size of Uncle Sans Pile
of Ready Cash.
Director of the Mint Leech's
Method of Computation.
He Argues That the Government is
Not Hard Up.
Supreme Court Notes and other wash
ington News-The Treasury Off,
cials Sworn In.
Associated Press Dispatches.

w VAohiNdioN, hpIll At.-A GUAR re-
porter this afternoon asked Director of
the Mint Leech for an explanation OF the
statement made by him, Saturday, that
there was an available cash balance of
$25S, 900, 900 in the treasury. Leech said
he holds that the gold and silver certifi-
Gates. amounting to $493, 1000, 900, repre-
sent trust money; that is, coin has been
deposited by individuals, and the gov
ernment has issued certificates to pay
back the same on demand Possibly
the fund of $7,OOO,O00 placed in the
treasury by national banks for keeping
their currency in good condition is trust
money, but as congress has just ordered
the money placed by national banks for
the retirement of their circulation, to be
covered into the general balance, it is
difficult to conceive why this is any
more sacred. The remainder of the
money in the treasury, some S25S, ,000,-
600, Leech holds, belongs absolutely to
the government. Prior to 1885, he says,
the available balance in the treasury was
always shown as the amount of money
which actually belongs to the govern
ment. The $l0,00O,000 in gold pur-
chased by the sale of bonds for
resumption purposes, was always
included as a portion of the available
balance prior to that date, and there is
no reason why it should not be. Nor is
there any reason why legal tender notes
issued in the purchase of silver bullion,
are any more a current liability than
other greenbacks. They are the same
class OF legal tender money. They are
not silver money, as the people gener-
ally suppose. They are issued in the
first place in the purchase of silver bull
lion, but as they come back into the treas
ury are reissued for all purposes. The fact
that the secretary is anxious to convert
all the assets into the most available
form of money, is no indication that
there is any shortage in the treasury
funds. In accordance with the acts of
congress the trade dollar bullion and
subsidiary silver coin will be recoined as
soon as new designs are decided on.
Whether the secretary should de-
eide to extend the four and a
half per cents at the rate of two per
cent, would simply be a business
proposition as to whether it would be
more profitable for the government to
use it's money in buying bonds bearing
four per cent. interest, at the current
rate.
81 imagine" said Mr.. Leech, "that
the recent order suspending purchase,
and the policy of the secretary regarding
four and halls, arises more from con-
sideration of the fall of the money mar
ket than any present OF anticipated lack
of funds"
SUPREME COURT NOTES.
/ The supreme court, today, formally
postponed the Sayward Bering sea case
until the second Monday in the next
October term.
The lottery advertisement cases were
also postponed, despite vigorous efforts
on the part of the attorneys for the New
Orleans and Mobile papers, who argued
that postponement would leave their
papers with lottery advertisements ex-
cluded from the mails.
In the supreme court today Chief
Justice Fuller directed that the indict-
ment be quashed in the case of John G.
| Ball and Robert E. Broutwell, convict
ed in the United States circuit court for
the eastern district of Texas, of the
murder of William T. Box. The sup
posed murder was committed in Indian
territory, but neither the time nor the
place of killing was set out in the in
dictment, and the court holds it was
therefore defective. The effect of the
order is to set the prisoners free.
NEW OFFICIALS.
S. D. Miller, son of the attorney-gen-
eral, has been appointed to the position
lately vacated by Tolman, chief of the
division of requisition and accounts Of
the war department, and has been des-
ignated as private secretary by Secre-
tary Proctor, to fill the position which
has remained vacant since Partridge
was appointed solicitor OF the state de-
partment.
Enos H. Nebeker, of Indiana, the new
United States treasurer, formally en-
tered upon the duties of his office
today.
Lorenzo Crounz, of Nebraska, the new
assistant secretary of the treasury, the
Office created by the last congress, was
at the treasury department today, and
after taking the oath of Office, entered
upon the performance OF his duties.
THE wALLA wALLA LYNCHERs.
Secretary Proctor has replied to Pros
ecuting Attorney Blanford, of Walla
Walla, deeply regretting the lawlessness
of the soldiers and stating that search
ing inquiry will at once be instituted.
MOVEMENT OF CATTLE.
The depal tment of agriculture issues
notice that cattle which have been at
least ninety daysin Northern Texas may
be moved by rail into Colorado, Wyom-
ing and Montana, for grazing or slaugh-
ter, in accordance with the regulation of
said states; provided they shall not be
shipped into any other state or territory,
or be allowed in pens on trails or ranges
to be occupied or crossed by cattle going
to eastern markets before December 1st.
All the cars used must be disinfected
upon unloading.
IRRIGATION IN NEW MEXICO.
A census bulletin on the subject OF
irrigation in New Mexico, shows that in
that territory there are 3085 farms irri-
gated, out of total number OF 4174, not
including those of the Pueblo Indians.
The average first cost of the water right
is $5.5S per acre, and the cost of the
land, cost of preparing it for cultivation,
etc., brings the average cost to
the farmer to $18.45 per acre.
The estimated present value of the
irrigated farms, includingimprovements,