The Louisiana Democrat., 1891-09-02
= FOS III > FINNTNCTEhIVO
Republican Methods in Handling the Fed
eral Finances.

w GIt ~
Republican Methods in Handling the Fed
eral Finances.
There is reason for the silence of re-
publican organs in regard to the condi-
tion of the federal treasury under the
management of their party. To de-
ccive 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 CLANS 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 word of denial
or explanation has ever appeared in "
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 q short time one trust fund
covered into the treasury by a 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 S3s, 461, ,s75.25, a reduction of
nearly $4,0OO,O00 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 reduction in the
amount, proving that it is an active
and current liability. Bat this is not
the only item removed from the cur
rent liabilities for the purpose of max
ing a false showing of financia
strength. In the latest debt statement
will be found no reference to the
! item of debt matured and interest or
the same yet unpaid. 1t is a small
amount, not exceeding possibly $4,000,
900, but it is enough to cause its dis
appearance from the published state
ments The two sums already men
toned amount to over S44, 900, 900, ant
there is still further item to be de
Quoted from the secretary's claime'
| balance of cash. In that balance i
named 1865, 141.95 of subsidiary coin
| This is not an available asset witt
which to discharge current liabilities
and the contrary would not be assert
ed by men intending to furnish homes
information. Adding this amount t
what has already been shown to be
current liability, and we have nearl
S64, 1000, 900 of liabilities to be met wit
the assumed S55, ,7S3,7 met cas-
balance" of the secretary's Statement
Bad as this is there remains anothe
factor in the federal financial problem
The public have been assured of tn
ability of their government to meet tn
demands on the treasury caused by th
maturing option of payment on the A.
per cent bonds. BY the statement G
the secretary of the treasury it appear
that he has only been able to exten
S11, $40, 500 of these bonds under his o
fer of per cent. bond in leu of tn
old issue. This leaves S2I I6Sl, $50 of tt
AZ per cent. bonds which have bee
Called by a treasury having defic
already OF nearly Slo,ooo,oOo in i
available cash. The Times has aske
it's republican contemporaries to e.
plain this condition of the feder
finances. 1t has called attention of tt
people to the fact that the publishe
statements of the treasury departmel
and the current comments of the /
publican organs have been calculate
to deceive. 1t believes this people tt
intelligent to be ~humbugged wit
false statements of the actual como
ton of the national treasury. And
charges that the present methods
mistatement are adopted for the pu
pose of affecting the minds of citize
} called upon this year to express the
J views on national questions. 1t is t.
late to expect any answer to this chars
or explanation of these figures of Il
treasury department from republics
organs. They have proved willin
ness to adopt policy of silence regar
ing the whole matter, relying upon t
failure of republicans to note t
l proofs furnished by opposition paper
But the Times challenges any repu
lican to explain away the figures he1
in given as evidence of the actual ban
& ruptcy of the national treasury.
was stated by prominent banker !
l Gently: "The same conditions exist
!, in national bank would cause the {
aminer to close it at once "-Chica
t Times.
= THE HURRAH FOR BLAINE.