The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-08-20
THE TREAsURY'S CONDITION.
Why tho Facts About it are not Made PUB
lic-The Finances of the Country in 4
Bad Way Consequent upon the Reck-
lessness OF Congress.
+ From the New York Times.

From the New York Times.
WASHINGTON, August 5.-A prom
iuent banker in New York, who has
found it tial to his success in busi-
ness to keep track of the operations OF
the treasury department, and who has
received from the department the reg
ular monthly statements Of the con-
dition Of the debt by the Secretary, and
the assets and liabilities as presented
by the Treasurer, has just written to
Washington to ask why the report
of the Treasurer has not been sent to
him for June and July. If that IN
quiry had come from person who
knew less about the national finances
it would not be surprising. He ought
not to be surprised tomorrow when
he learns that for two months
there has been no report of the assets
AID liabilities from the Treasurer, in
independent of the statement Of the
public debt sent out over the signature
of the Secretary of the Treasury. The
Secretary's statement is now supposed
to include the Treasurer's report.
AS this banker has been receiving
the Secretary's report, and as he
should be as we'll qualified to interpret
it as any other business man in New
York, the fact that he desires to know
what has become of the report Of the
Treasurer is interesting. If to bis clear
mind the Secretary's report leaves
something to be desired by ordinary
iaymen, who may be much more
easily "fuddled" by an adroit report,
contrived by excluding details to hide
something that has heretofore been
made plain, what is it that led the Sec
retary to change the form of the month
ly statement? This question has been
asked repeatedly since the change 10
tie form of the report, and it has been
answered by Secretary Foster as one
might expect him to answer it. 1t
was because it was "more convenient
and more economical"
But it was not alone for the sake of
spending money, but to give accurate
information, that Secretary Sherman
issued two statements, one giving a
very frank and detailed account of the
money in the Treasurer's office, and
another one, entirely comprehensive
to ordinary people, showing the avail
able surplus" or money available for
payment of the debt. The reconstruc-
ton and remodeIling Of the debt state
ment was for very different purpose.
It became necessary, when the avail
able assets Of the treasury were rum
ming low, so to present them to the
people that they would be led to be-
lieve that the Government was really
richer in ready money than an extrav-
agant course would permit it to be.
Under Secretary Window several de-
vices were resorted to to add to the
apparent available assets, but the eX-
pedients resorted to by him were about
exhausted when he died. If the re-
ports of the Treasurer, as made out by
Treasurers Jordan and Hyatt under
the last Administration, and by Mr..
Huston under this Administration,
were continued to-day, they would
show that, instead of having "net
cash balance in the treasury Of more
than fifty-five millions, the Secretary
has only between ten and fifteen mil
lions of avilable assets. It would seem
as if all of the expedients that could be
employed to prevent the public from
discovering by the Government state
ment what the condition of the treas
ury is had been employed. At all
events, the statement Of the public
debt is now interesting chiefly for what
it does not show, and in order to find
out what the situation is by tearing
the report in pieces and reconstructing
it is task for which few men have
either the time, inclination - Ability.
This is we'll knowp~ len who
are resortine to a S, "faked"
statement that is onlss IKE the state
ment it succeeds in that it comes out
monthly, and has the the name and
assurances of the Secretary at the foot
of it. It is characteristic Of a party
that delights in lingo" politicians and
''strong rule"
The deposits in national banks and
the subsidiary coinage and other finan-
cial '.junk" is loaded into the ''avail-
able' column, where it formerly had
only reserved place, just to lead peo-
pie to believe that the treasury is being
conducted successfully in spite Of the
spendthrift billion Congress. If the
Secretary could be induced just for the
sake Of illustration to issue two reports
one according to bis "fuddling" plan,
and another upon the instructive plan
in vogue three years ago, it would
make very interesting comparison.
Loves Young Dream.
Loves young dream was a very
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