The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1891-05-14
WASHINGTON LETTER.
To the TelegYabh- Courier:

(! Secretary Foster does not believe
in mystifying the people as to the
financial condition of the Govern
ment, which is more than could have
been truthfully said of some of his
predecessors. He does not entirely
agree with the recent statement
made by Director of the Mint
Leech, showing that the government
has now on hand in available cash,
that is cash that can be used to make
any necessary payments, S258,ooo,-
900. He says on this very interest
ing subject: 81 guess he (Mr.
Leech) is about right in the main,
although I think it is a matter that
may well be discussed. I should
have stated it differently if | had
been writing it. should have
said that some of the S258,ooo, 900
of available cash might be regarded
as trust funds-might be, [ say. 1t
would be correct to say that about
seventy millions is unquestionably
available cash-that is, about $28,-
900, 900 in the banks, $4,000, 900 Of
subsidiary coin, $4,000, 900 in trade
dollar bullion, ST., 900, 900 of current
cash and $5,ooo,oOO in silver against
which no certificates have been is
sued,
Gas to the 100000, 900 of gold
reserve It is held against the
$3.50, ooo, 900 greenbacks to make the
credit of the Government impregna
BILE, for no one would be able to get
together enough greenbaCks to take
all the gold out of the treasury, ard
therefore they do not not take any.
But these notes are legal tender and
the Government can and would use
this gold reserve if it were needed.
It should, therefore, appear in the
debt statement as available cash.
Nov as to the redempt on Of the
Al per cent. bonds: l am thinking
of trying to substitute 2 per cent. for
them, as Mr. Window proposed. If
it can be done there will be two ad-
vangtages in it over the redemption.
To be able to float 2 per cent. bonds
will demonstrate the extraordinary
soundness Of the government credit
and the money that would be re-
quired to redeem the A may be used
for the purchase Of As at a saving of
2 per cent.
Il talk about these matters freely
because [ believe it to be a good
thing to have them discussed well,
and we'll understood before they are
tried. l am getting good many
letters from bankers and others;
some of them are silly, but many
contain valuable opinions Some
newspapers criticise everything in a
partisan spirit, bet that makes no
difference. l believe it is wise to
talk these things over with the pub
Iic and get the benefit of the discus
sion"
It need not surprise anybody for
Mr.. Blaine to make public at any
time a statement over his signature
positively forbidding the use of his
name as a candidate for the Presi-
dency and announcing himself as in
favor of the denomination of the
President. Only two things have
prevented his doing SO before this
President Harrison has not decided
whether lie wishes to again become
the candidate Of the party, and Mr.
Blaine has not considered himself as
in any sense or under any circum-
stances a candidate, in fact it is we'll
known to his friends that he does
not wish to be President Mr.
Clarkson, the newly elected presi-
dent of the National Republican
League, was in town this week, and
he expressed himself as believing
that everything was tending towards
the denomination of President Har-
rison by reclamation, unless he
should decline to allow his name to
be presented to the convention.
The rather late objection to re
Ceiving ex-senator Blair, as our min