Los Cerrillos rustler. (Cerrillos, N.M.) 188?-1891, 1891-05-08

The nir--tsr ~ ths Mat believes rhas
There = risnty 81 msa~y in ths rrsas-
uv-n.~ ns Flrur~. a.
MAsmN0roS. April ss-Dircctor %
The Mint Lecch asked for an cxplAna-
ito ~ the statement made by him
Saturday that there was an available
cash balance Of sa5S 900. 600 In the
treasury. said. II hold that the
treasury owns some sass 00o. ooOof hard
cash available for any legitimate cx-
Penses The money In the treasury,
which amounted 10 $751;. 900. 900 on the
hrst Of this month. consisted Of two
classes. that which the government
holds a. trustee and that which Il owns
II cannot consist Of any other kind Of
money. The gold and silver certificates
amounting Including currency certih-
catesl 20 says. OOO. 600 represent
trust money-that Ia the coin has been
deposited by individuals and the gov
eminent has issued n certificate 90 pay
back the same upon demand Possibly
the fund Of g., 900. 600 placed with the
treasury by national banks for keeping
their currency In good condition Is trust
money: but as congress has Just or
dered the money placed here by the ma
tional banks for their circulation to be
covered into the general balance % the
treasury Il Is difficult 10 conceive why
this money Is any more sacred. The
remainder of the money In the treas
ury, some S25s. 900. 900, Is money which
belongs TO the government as absolute
~ Us the treasury building belongs 10
IL Prior 10 1856 the available balance
in the treasury was always shown
rs the amount Of money which
actually belonged 20 the government
The siOo. OOO.O 900 in gold, purchased by
the sale OF bonds for resumption pur-
poses, was always included as n portion
of the available balance In the treasury
prior to that date by all Of the secre-
iaries of the treasury.
''The fact that the secretary is INK
ious 10 convert all the assets of the gov
eminent into the most available form
of money Is no indication that there Is
any shortage In the treasury funds. So
far as the coinage Of the trade dollar
bullion Is concerned the coinage of that
bullion into silver dollars was ordered
by act of the last congress, and II is the
intention TO coin IL into dollars after
the first Of July, whether the treasury
Is low or full OF money. So, too, In re.
gard 10 the coinage Of the subsidiary
silver coins, congress made an appro'
priation Of $3.50, 900 10 pay the loss on
such recoinage and just as 500 as we
- -. $50 l..t.. g.. .A.. ..tva "a
is my intention TO set the minis al
work on such coinage as far as the up
preparation will extend. But one OF
these matters nave anything TO do with
relieving any shortage in the treasury,
II the secretary should decide to extend
the Al per cent bonds at the rate of
per cent II would simply be a business
proposition as to whether IL would b'
more profitable for the government I,
use its money in buying bonds bearing
4 per cent interest Mt the current rate
n problem which the secretary in hi
wisdom will doubtless decide at tn,
proper time.
"As u matter of fact some s23, 50O,O 90
of the 1 per cent bonds are in the treas
uTy uS scchrlty ior hhtloHal ohnh hotcs
and the treasury would only have u
provide 10 per cent. Of the cash re
CURED 10 redeem them, as the bank
themselves would have 10 provide thu
rest of the money, unless they Shout,
: decide TO purchase As TO replace tn.
as, which ut the present price is no
, very probable. II must be remembers,
, that when the banks pay the money /
redeem their notes, the money paid in
under the recent act OF congress, be
comes Immediately an available asse
of the government, while the n%ationa
y bank notes themselves would come i
very slowly for redemption"