Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1891-05-07

The Condition of National Finance Freely
Discussed by the New Secretary of the
MISUNDERSTANDING Blaine "Doesn't
Want It"-various Other Matters.
Especial Correspondence to THE TIMEs.]
WASHINGTON, d. c., May L, 1S91.-
Secretary Foster does not believe in mys-
tifying the people as to the financial con-
dition of the government, which is more
than could have been truthfully said of
some of his predecessors. He does not
entirely agree with the recent statement
made by Director of the Mint Leech
showing that the government has now
on hand in available cash, that is cash
that can be used to make any necessary
payments, $25S 100000. He says on this
very interesting subject: 81 guess he
MIR. Leech) is about right in the main,
although think it is matter that NAV
well be discussed. should have stated
it differently if had been writing it. l
should have said that some of the $685.
00O,0 of available cash might be re-
garded as trust funds, might be, 1 say.
1t would be correct to say that about
$4,000, 900 is unquestionably available
cash, that is, about $2S 100000 in the
DduhS, Yll.OOu,UOU VI SuUSluldTy COlQ,
81, 900, 900 in trade dollar bullion, $l2,-
600, 900 of current cash and S.. 900 600 in
silver against which no certificates have
been issued. AS to the 800, 100000 gold
reserve. 1t is held against the $35O,OOO,-
900 greenbacks to make the credit of the
government 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 if needed. 1t should, there
fore, appear in the debt statement as
available cash. Now as to the redemp-
tiOn of the four and one-half per cent
bonds. | am thinking of trying to SUBJ
sttute two per cent for them, as Mr..
Window proposed. If it can be done
there will be two advantages in it over
the redemption. To be able to float two
per cent bonds will demonstrate the ex-
traordinary soundness of the government
credit and the money that would be re-
quired to redeem the four and one-half
may be used for the purchase of fours at
saving of two per cent. l talk about
these matters freely because 1 believe it
to be good thing to have them discussed
well, and well understood before they
are tried. | am getting good many
letters from bankers and others some of
them are silly, but many contain valua-
Bile opinions. Some newspapers criticise
Feverything in parti5an spirit, but that
makes no difference. [ believe il is wise
to talk these things over with the public
and get the benefit of the discussion"
It need not surprise anybody for Mr..
Blaine to make public at any time state
hi OF of,,r ooit
ding the use of his name as candidate for
the presidency and announcing himself as
in favor Of denomination of the presi-
dent. Only two things have prevented his
doing so before this. President Harri-
son has not decided whether he wishes to
again become the candidate of the party
and Mr.. Blaine has not considered HIM
self as in any sense or under any circum-
stances candidate, in fact it is we'll
known to his friends that he does not
wish to be president. Mr.. Clarkson, the
newly elected president of the national
Republican league, was in town this
week, and he expressed himself as be-
lieving that everything was tending to-
wards the denomination of President
Harrison by acclamation, unless he
should decline to allow his name to be
presented to the convention.
The rather late objection to receiving
ex-senator Blair, as our minister, filed
with the state department by the Chinese
minister, was surprise, although it had
been eXpt cted when the appointment
was first made. OF course Mr.. Blair will
not be sent TO China in the face of this
objection, baseless as it is, but he will be
given some diplomatic appointment, pos
sibly that of minister to japan.
| Ex-Representative Morey, of Ohio,
dropped into Washington on private bus
inc IS this week. Being questioned as to
the POLITICAL outlook he said: "Well, in
Ohio, we have decided to elect Mckinley
governor and to re-elect Senator Sher-
man, this year, and all of our folks think
that we shall next year re-elect Benjamin
Harrison president
Representative Amos Cummings, of
New York who is credited with being the
chief manipulation of the eastern wing of
the McMillin speakership boom is here
consulting with Mr.. McMillin as to pros
poets. McMillin figures on winning by
reason of jealousy between Mills and
Crisp, the two leading candidates from
the south.
Attorney General Miller has received
the report of the U. S. district attorney
on the lynching in New Orleans, but it
will not for the present be made public
! 1t is said to make very bad showing
for the lynched Italians.
Barren" Vermont
/ From New York Tribune.l
"Look at barren Vermont" exclaims
far western boomer. That is all right.
but in Vermont there is as much solid
comfort to the square mile as there is in
any state in the Union. The citizens If
that fine old state have plenty of money,
not only for their own needs, bus for in