Waterbury evening Democrat., 1891-07-02
PUBLIC DEBT REPORT
Secretary Fosters Figures I'm
der His New System.
THE SURPLUS IS NOW $53,s5s,sos.
No Change in the Interest Bearing Debt
Of the Government.

The President VIII Take His Vacation
TO-MorrOw-New Law in Relation to the
Payment of Pensions-Chairman Brice's
Circular Co the Observation-Disclosures
Copyright Benefits for Four Countries.
WASHINGTON, July O. The monthly
public debt statement has been issued In
an entirely new form. It combines both
the Secrstary's statement of the public
debt and the Treasurer's monthly state
ment of assets and liabilities, heretofore
issued separately.
Comparison with the last monthly
statement ard the statement issued July
1, 1890, shows an increase in the public
debt during the past month of about
50, 900, 900, and net reduction during
the past fiscal year of $22, 100000.
The surplus in the Treasury to-day in
the new form of statement is placed at
$53, S53, 80s, or about 81, 00o, 900 less than
q month ago, with no change in the in
terest bearing debt of the government
during the past month. The bonded
debt to-day is 1910, 500, 100, made up in
round numbers of $500, 000,0 600 As, and
$50, SOC, 900 10 per cent. bonds.
Secretary Foster Explains.
Secretary Foster gave out the follow
ing statement explanatory of the changed
form of the monthly debt statement and
the daily statement of cash in the Treas
ury, which will hereafter be issued:
Heretofore the manner and makeup
Of the monthly statement required the
showing of an increase or decrease in the
public debt. Under this form it has
happened on several occasions that when
large purchases Of bonds were made the
statement following would show an in
crease of the public debt, when reduc-
ton had really been effected. This was
owing to the fact that the principal and
premium paid for bonds reduced the
cash on hand beyond the amour Of
bonds actually redeemed.
"The Secretary has concluded after
much thought on the subject to separate
the statement of the debt from the state
ment of the cash in the Treasury. Here
after the statement of the cash on hand
will show the net increase or decrease
from month to month and this statement
will be part of the form now adopted.
"In making the net statement of the
cash in the Treasury the figures will
plainly show the different kinds of
money included in the total. Against
this total will be stated the cash liabili-
ties. This part of the new form will take
the place of the assets and liabilities
statement heretofore issued by the
Treasurer.
"In former debt statements the &C
crued interest and interest due and I'M
paid have appeared as current liabilities.
The items have been eliminated. The
Secretary holds that II accrued interest
may be charged as a liability against
cash, then with equal propriety accrued
salaries can be so charged, or in like
manner the accrued liability of the con-
struction of public buildings or of the
improvement of rivers and harbors.
"The matured debt item is made up of
the remnant of the bonds and other
forms of indebtness remaining unpaid
from the foundation of the government.
1t Is assumed that less than % per cent.
of these will ever be presented for pay
ment. They are now, as heretofore, car
ried ON the debt statement, but not as
liability against cash."