New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-10
TILE TREASERY REPORT.

Secretary Foster has spoken SO freely, and
with such admirable effect, on financia. ques-
tons within the last few months that his I'M
fortunate sickness and consequent inability to
prepare a full discussion OF some topics for his
annual report are the less to be regretted. In
all respects the report is in entire harmony with
the recent expressions of the Secretary and with
the Presidents Message, and if MIR. Foster has
other suggestions of value to add it may be
expected that public man 80 experienced will
not fail to find fitting opportunity.
The period which the Secretary has to review
has been one of unusual difficulty and danger.
ID was remarked few days ago that no one
would have imagined, when Mr.. Foster took
the seat so suddenly and tragically vacated by
Mr. Window, that he would be able to meet so
successfully the obstacles then apparent. Even
opposition journals and financial papers not in
political sympathy with him now praise his con-
duct of the Department, and admit that he has
sllrmounted the apparently insurmountable."
This is partly because many were blinded by
partisan untruths about the appropriations, or
about the real condition of the Treasury reserves
which the Secretary now exhibits SO fully But
it is not the less true that anxiety of many per-
sons in regard to the state OF the Treasury did
i'm fact affect business somewhat unfavOrably,
until Mr.. Foster judicOusy anticipated his an
nual report by explanations which have been
already considered, and which have received
from business men of all parties well-deserved
approval.
During the last year, though not within the
fiscal year of which the report especially treats,
the Treasury had to meet a maturing debt OF
more than fifty Millions and at the same time
to meet unusual demands arising from pensions
and other legislation, and to do all this with
revenue reduced by sixty millions year or more.
The report shows in detail how admirably this
has been accomplished thus far. 1t very rarely
happens that the Finance Minister of the Gov
ernment is placed by circumstances and by new
legislation in position of such difficulty, and
it was all the time an added embarrassment that
the new Silver Act, by many misconstrued,
threatened to shake the credit of the Govern
ment and to disturb, no one could say how
much, the circulation of paper currency.
The Treasury report makes plain in detail how
honorably and skilfully all these difficulties have
been met. Discussion of its items may be fifty
deferred, but it would be unjust to the Secre-
tary and to the Administration if there were not
full and hearty recognition of the candor, frank
ness, and singular cearness Of his exposition.
He must indeed be man of warped and narrow
mind who can examine this report and fail to
honor its faithful and lucid account of the public
finances, as they are now, and as they will
be, under existing laws for two years to come.
The Secretary enters into no elaborate dis
cussiOn of controverted questions but the in
formation he submits respecting the effects of
the new tariff on the revenue and the exports,
respecting the increased purchases of silver and
the consequences, and in regard to immigration
and measures for its restriction, are of high
value. The report is one which merits careful
study. But it is enough here to say that it illus
trates once more the scrupulous fidelity and
splendid ability with which the finances OF the
richest and most powerful Government on earth
have been conducted under Republican Admin
stratiOns