Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1891-05-07
Washington Letter.
CFiom our Regular Correspondent
INn-L:nn4 Ii L. NJ 1901


Secretary Foster does not believe in
mystifying the people as to the financial
condition of the Government, which is
more than could have been truthfuilY
said of some of his predecessors. He
does not entirely agree with the recent
statement made by Director of the Mint
Leeeh showing that the Government
has now on hand IN available cash, that
is cash that can be used TO make any
necessary payments, S25S, 000,0 600. He
says on this very interesting subject: Il
guess he (Mr. Leech) is about right in
the main, although think it is q matter
that may well be discussed.
should have stated it differ
emily if had been writing it. should
have said that some of the S258, 100000
of available cash might be regarded as
trust funds-might be, | say. 1t would
be correct to say that about seventy mil
lions is unquestionably available cash
that is. about S28,000.0 GOO in the banks.
S21 900. 600 of subsidiary coin, $4,000,
600 in trade dollar bullion, S12 100000
of current cash and So, 100000 in silver
against which no certificates have been
issued
"As to the 800, 100000 of gold re-
serve: 1t is held against the $350,000,
600 greenbacks to make the credit of
the Government impregnable, for no
one would be able to get together
enough greenbacks to take all the gold
out of the treasury, and therefore they
do not take any, but these notes are leg
al tender and the Government can and
would use this gold reserve if it were
neeued. 1t should, therefore, appear
in the debt statement as available cash.
Now as to the redemption of the 4!
per cent bonds. | am thinking of try
ing TO substitute per cent for them, as
Mr. Window proposed If it can be
done there will be two advantages in it
over the redemption TO be able to
float per cent bonds will demonstrate
the extraordinary soundness of the gov
eminent credit and the money that
would be required to redeem the l-25
may be used for the purchase of As at
saving of per cent.
talk about these matters freely be-
cause | believe it to be good thing to
have them discussed well, and well I'M
derstood before they are tried. am
getting good many letters from bank
ers and others; some of them are silly.
but many contain valuable opinions.
Some newspapers cnticise everything
in partisan spirit, but that makes no
difference. | believe it is wise TO talk
these things over with the public and
get the benefit of the discussion.
1t need not surprise any body for Mr..
Blaine To make public at any time a
statement over his signature positively
forbidding the use of his name as can
didate for the Presidency and annouuc-
ing himself as in favor of the renomina-
ton of the President. Only two things
have prevented his doing so before this.
President Harrison las not decided
whether he wishes TO egain become the
candidate of the party and MIR. Blaine
has not considered himself as in any
sense or under any circumstances
candidate, in fact it is well known to his
friends that he does not wish to be Pres
ident. MIR. Garrison, the newly elected
president of the national Republican
league, was IN town this week, and be
expressed himself as believing that ev-
erYthing was tending towards the re-
nomination of President Harrison by
reclamation, unless he should decline
to allow his name to be presented to the
convention.