New-York tribune., 1891-04-30
ryr rprISrRY NOT BANKRUPT.


far. and not any practical sense, i'll the hys-
terical clamor which some Journals are raising
obopt exhaustion of the Treasury. Not one OF
these journals would venture to print such
stuff II really believing it, for all would in that
case realize the indecency and the suicidal foily
of manufacturing panic. Because they 90 not
believe the alarming things they say, and know
that practical business men are not IN danger
of believing them, they feel at liberty TO hsh
for the favor of the ignorant il they can. Mr.
Ieech Director of the Mint, who was the most
experienced and competent expert in that branch
of the service trusted for years by president
CIeyeland's Administration as by the one pre-
ceeding, in recently published statement
which is amplifed this morning, spoke with
proper indignation Of the misrepresentation set
aAoat for partisan purposes, and said:
nold that the Government of the United states has
in its yauIts today IN good hard money, over S2oo'-
available for any Of the legitimate expenses Vi
the Government, and 1t Is ridiculous TO tah apou eio
bene the slightest probability of Any Obligation OF the
Government being dishonored.
In this statement Mr. Leech obviously reck-
ons as cash about thiry-one and hall millions
Of certificates and Treasury notes he'd Ill the
Treasury. which were in fact directly available
as any other kind of money for the payment OF
any indebtedness. But it is not at all necessary
70 90 50 far For the Treasury held April
one hundred and forty eight and holds now
about one hundred and fOrty-three millions
cold in excess of gold certificates outstanding,
and after setting apart the bullion fund OF one
hundred millions there still remain forty three
millions gold, besides all the standard dollars,
III, nd bo 1npOSitg hanks.
The current liabilities run about the same from
month to month, and to deduct the entife anhouhO
of them religiously in every statement IS proper
enough, but only if it is remembered that by no
effort of the Department, by no catacysm OF
nature or finance could they all be paid, or pay
ment for them asked in single month. There
were thus deducted over siXty-two millions o.
current liabilities in the last debt statement, and
vet the entire disbursements of the treasury III
\ MONTH exclusive of bond purchases, rarely
| aches half that sum. and for the current year
will not average thirty millions monthly.
| Mr.. Leech makes another just statement thai
the present Administration has reduced Its avail
able balance by purchasing and retiring bonds
FOR which no less than S267 ,759, SS1 have been
paid During the corresponding period toul
wears ago. under Mr.. Cleveland's Administra
ton, the amount thus paid in reduction OF deb
was much smaller. The nterest-bearing deb
amounted to eleven hundred and nincty-si1
millions when President Cleveland came int
office. and it was eleven hundred and two ant
a half millions Just two years later. 1t is no
strange that the Treasury balance has been re
duced, because that was precisely what the peo
ple particularly desired to have done when th'
last Presidential election took place, for the!
believed that it would be beneficial to them t.
have larger volume of currency in circulation
| and smaller amount carrie from year to yea
idle in the Treasury. Their wishes have beel
respected the more completely because IN
neglect or the refusal of successive Demo
cratic Congresses to provide for the actual need
of the public service in many branches ha
thrown upon Congress during the last two year
the duty of making provision for very large de
ferred obligations Congress having done this
and the Treasury having at the same time ex
pended nearly two hundred and sixN-e
millions in the purchase and retirement Of bonds
the people have the satisfaction Of knowing tina
the circulation is much larger than it formerl
was, and the amount of idle money in the Treas
ury is much less while the necessities Of tn
public service and the credit Of the GOvenmen
have been better maintained than under Demo
cratic legislation and administration.
The Treasury is not in any danger Of bank
ruptcy. Newspapers have only slender respeC
for the intelligence of their readers, or else n
care whatever for their own reputation, whe
they attempt to create alarm on that subjec
Secretary Foster is practical and shrewd bus
ness man, and he is therefore aware that it
wise to make ample provision at this season {
the year, when the money markets are we
supplied, for the emergencies likely to arise
the fall He has been taking steps to that enc
and there is no reason to doubt that he will fin
way to meet all the obligations of the Coy
ernment, and to put out money somewhat freel
in addition next fall, if a necessity should aris
. THE SAME OLD Story.
If it be true that the defalcation of the lat