Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1891-08-27
TRIckERY IN THE TREASURY.
Republican Methods In Handling the Fed
eral Finances.


eral Finances.
There is reason for the silence of re-
publican organs in regard to the condi-
ton of the federal treasury under the
management of their party. To de-
ceive their readers they will repeat the
statement of their secretary of the
treasury that he holds a large surplus
with which to meet current liabilities.
But when called upon to explain the
figures given to the public the organ
grinders are as dumb as CLAIMS at high
tide. The Times first called attention
to the peculiar methods adopted by the
present administration to cover the re-
suits of congressional extravaganza.
1t showed that the federal treasury was
absolutely bankrupt under the rules
properly applied to such institutions
This statement was SubStantiated by
interviews with some of Chicago's
leading bankers. Not a word of denial
or explanation has ever appeared in a
republican organ, and yet the treasury
has continued to pour out trust funds
and lessen its ability to meet its current
obligations. Referring to this matter
some months ago the Times prophesied
that in short time one trust fund
covered into the treasury by law of
the recent billion-dollar congress would
be practically omitted in the monthly
statements of the treasury given to the
public
By reference to the statement SO
published lately, it appears that this
prophecy has been fulfilled. As tele-
graphed from the treasury department
there is no mention made of the fund
| deposited with the treasury for the re-
| demption .of national bank notes By
| the printed report, which has been
] furnished this month several days later
| than usual, this sum appears, and is
| given as SIS, 461, s75.25, a reduction of
| nearly 81, 600, 600 since June 1. The re-
| duction between the two dates is a
sufficient answer to the pretense that
this is not current liability. Every
| month shows a reduction in the
amount, proving that it is an active
and current liability. But this is not
| the only item removed from the cur
| rent liabilities for the purpose of max
| ing a false showing of financial
| strength. In the latest debt statement
| will be found no reference to the
| item of debt matured and interest on
| the same yet unpaid. 1t is a small
amount. not exceeding possibly Sc, 00O,-
600. but it is enough to cause its dis
| appearance from the published state
ments. The two sums already men
| toned amount to over S44. 600, 900, and
| there is still further item to be de-
Quoted from the secretary's claimed
! balance of cash. In that balance is
named S19, 36S, 141. 95 of subsidiary coin.
This is not an available asset with
| which to discharge current liabilities,
and the contrary would not be assert
ed by men intending to furnish honest
| information. Adding this amount to
what has already been shown to be q
current liability, and we have nearly
s64, DOC, 900 of liabilities to be met with
the assumed SIS, 7s3, 1850 met cash
balance" of the secretary's statement.
Bad as this is there remains akother
factor in the federal financial problem.
The public have been assured of the
ability of their government to meet the
demands on the treasury caused by the
maturing option of payment on the Al
per cent bonds. BY the statement of
the secretary of the treasury it appears
that he has only been able to extend
81, 679, 500 of these bonds under his of
fer of a per cent. bond in leu of the
old issue. This leaves S27, 6s1 $50 of the
~ per cent bonds which have been
called by a treasury having a deficit
already OF nearly SO. ZOO, 600 in its
available cash. The Times has asked
its republican contemporaries to ex-
plain this condition of the federal
finances. 1t has called attention of the
people to the fact that the published
statements of the treasury department
and the current comments of the re-
publican organs have been calculated
to deceive. 1t believes this people too
intelligent to be humbugged with
false statements of the actual condi-
ton of the national treasury. And it
charges that the present methods OF
mistatement are adopted for the pur-
pose of affecting the minds of citizens
called upon this year to express their
views on national questions. It is toe
late to expect any answer to this charge
or explanation of these figures of the
treasury department from republican
organs They have proved a willing
ness to adopt policy of silence regard
ing the whole matter, relying upon the
failure of republicans to note the
proofs furnished by opposition papers
But the Times challenges any repub
lican to explain away the figures here
in given as evidence of the actual bank.
ruptcy of the national treasury. As
was stated by prominent banker re-
Gently: 1.-The same conditions existing
in a national bank would cause the ex
aminer to close it at once. "-Chicago