The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1891-05-09
THE BILLION DOLLAR CON-
GRESS.
Desperate straits 10 which The Treas
ury Has Been Reduced

ury HRS Deeh hhCuuCNu-
Special Correspondence of the Baltimore Sun.
| WASHINGTON, May This has been a busy day
for the financial iugglers of the Treasury Depart
ment Their wonderful feats of balancing far excel
any tricks of jugglery attempted by the japanese
who recently appeared here with circus. 1t has
been known ever since Congress adjourned that the
receipts of the government continually falling
off and the surplus in the custody of the treasurer
| rapidly diminishing. The late Secretary Window
sounded the alarm shortly before he died, when he
gave notice there would be no further bond calls
until the surplus was restored few days before
he went TO New York to attend the banquet at which
he died friend called at the Treasury Department
to obtain some information concerning the financial
condition of the government The Secretary said
he regarded the situation with more than usual
seriousness. He said he would not dare let the
! country know how narrow the margin was between
a surplus and deficit. While speaking the Secre-
tary arose from his desk, went to a safe and took
from it statement which showed the actual finan-
cial condition of the government minus the intri
cate figuring which is employed in making up the
monthly debt statement. 1t showed that the actual
surplus in the treasury that day was less than So
100000 The estimated receipts from customs and
internal revenue for the next two days were also
given which produced an aggregate amount OF
something over S9OOOOO0 Mr.. Window did not at
tempt to conceal his anxiety with regard to the de-
creasing receipts and the increasing expenditures,
and, as he expressed it, he would have to sail
close TO the wind in order to make both ends meet
He anticipated the stringency in the money market
which caused so much distress in financial circles,
and none but his most intimate friends realized the
mental suffering he endured during that panicky
| period. -
| The regular public debt statement given out at the
| Treasury Department this afternoon contains all of
the old and confusing details By the arbitrary
processes which prevail at the Treasury Department
4 the available balance is officially announced at
| $50 SIG STg75. This includes fractional silver,
fractional currency and minor coin not full legal
fender also the national bank fund deposited in the
treasury under act of July IL 1890. Treasury off,
cials who have probably had longer experience
/ with national finances than Director of the Mint
Ieech are inclined to admit in their conversational
STYLE that Mr. Leech made his statement with regard
to the availability of the national bank fund too
broad. 1t is claimed the government may under
certain circumstances use a certain percentage OF
said fund in the ordinary course of the public bust
ness lust AS bank uses the funds of its depostors.
should an emergency arise there should be no
question as to the authority of the government to
use at least 10 per cent of the national bank fund
NO ANALOGY BETWEEN THE TWO CASES.
There is, however, no analogy between the two
cases. 1t shows the desperate straits to which the
treasury has been reduced by the antics OF the bill
lion dollar Congress when such preensions are put
forth There is little doubt that Mr. Leech the di-
rector o the mint was selected TO feel the public
pulse in the extraordinary utterances which have
been given out in his name. There is no prece-
dent for one of his official position assuming to
f1reshadow the financial policy the Treasury De-
partment, and if the clouds of disapproyal lower
too heavily the Secretary OF the Treasury can take
refuge in disclaimiug the responsibility of the
direction of the mint It is quite certain that Mr.
Leechs suggestion to take funds to put into crcua
ton which have alwaysbcen regarded as sacred and
inyiolable and which are in fact made so by law
would be regarded as Il crime, and subject any Sec
rotary of the Treasury who permitted such a thing
TO impeachment. Within two months after the
converting of the last Congress- as in the early part
of February 1890 was predicted in this correspon
dence and it was predicted repeatedly on the floor
of Congress that the operation of the Reed rules
would inevitably result in deficiency. 1t could
not be otherwise The operation of the Reed rules
dispensing with constitutional quorum and lodg-
ing in the hands of the man in the chair the power
to make Il quorum at his own will and pleasure and
put measures through without discussion or exami
nation could not but foster the appallngly lavish
aud riotous expenditure of the public funds which
has empted the overlooking treasury left by Mr..
Cleveland only little more than two years ago