New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-11
THE TREASURY.

Again, according 10 DemoOi""o nN''F ,.r.
the Treasury is bankrupt. Its actual condi'ion
is that it holds S139, 671,92O in cash In excess
Of all demand liabilities, but the Democrauc
newspaper financier is poor stick VINO canho'
scratch off a little balance like that in lew
minutes. and leave the Treasury in dread1H
hole. On November it held $40 ,9S4,oe9 more
cold coin and $7,S15,OG2 more gold builOn
than month before, but yet it was not oniy
broke but very much more broke than Octoper
1 according to Democratic critics. 1t holds III
excess Of all gold certificates outstanding Sl21,-
GA 400 81 in gold and yet it is Democratlcally
mpecunOus.
One would suppose it might in time become
tiresome work for anybody to wrench hiinseli
day after day. and month after month In gettihs
these figures to spell bankruptcy. Inc process
is nevertheless very simple, and only requires
impudence. as most people have by this time
learned. First, there is deducted the gold re-
serve or bullion fund, as if that fund.- being ex-
pressly held for the payment OF demand llaoii-
tiles. could not be held at all. In like manner
other forms of obligations are deducted when
are not in fact demand liabilities, as if they were
not only such but had been already paid. linen
all the money in the banks, now only S2O,3'S,-
1O3 6S. is taken out on the ground that II can
never be called or paid though great part OF
the more than $50, 900 900 which Democratic
Administration had declared it could not properly
withdraw from the depository banks has by a
Republican Administration in little more tnah
half its term been collected Also all the SUD-
sidiary coin held is deducted, on the ground that
il can never be used, though several millions OF
tho amount which the Democratic oiflclals re-
turned as useless have actually been used ana
restored to active circulation.
To refute repeatedly such nonsense, as often
as it is printed by Democratic critics OF the Adj
minstraton, would be little less than an insult
to the intelligence of readers. But it IS worth
while from time to time TO call attention 10 the
fact that the Treasury, which was Democrat
ically bankrupt last spring, and according to the
same authorities has been getting worse OIL every
month since, now holds on hand a little matter
of six hundred and ninety-six millions, not in
Guiding certificates in Treasury vaults, OF which
nes,ly two hundred and sixty-four millions is
in gold. about four hundred and ten millions in
silver, sixteen millions in Treasury notes and
six millions in bank notes. In addition the
Treasury has deposits in banks, which are now
reduced to about the largest amount for many
years allowed to be kept there prior to the Dem
ocratic distribution of funds to selected banks.
Meanwhile the Treasury has largely increased
the currency in circulation.
During the month of October the increase in
the actual circulation of various kinds of money
outside the Treasury was $50, $40, 125, and de-
tails of this increase have been published in
Washington dispatches. But it is interesting to
notice that larger use has been found for stand
ard silver dollars, and also for subsidiary silver,
to the amount of more than 100000 during
the month, the amount of each in active circula-
ton, November 1, having been about sixty-two
millions. Another point of interest is that the
amount of banl1noteS in actual circulation in
creased during the month of October though
but slightly. The decrease in bank circulation
has been so long continued, and so great, that
even slight increase is noteworthy, as perhaps
indicating permanent change OF tendency
since the extension of the four-and-a- half per
cent bonds at lower rate of interest and the
other changes resulting from action of the last
COnOrpSS