The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-08-20
THE TREAsURY'S CONDITION.
Why the Facts About it are not Made Pub
l;c-The Finances of the Country in n
Bad Way Consequent upon the Reck-
lessness of Congress.
from the >,ew York Times.

From the ,,ew York Times.
WASHINGTON, August "a prom
inent banker in New York, who has
found it essential to his success i'll busl-
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 &c Secretary, and
the assets and liabilties 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 q 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
and 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 his clear
mind the Secretary's report leaves
something to be desired by ordinary
laymen, who may be much more
easily "fuddledn 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
the form of the report, and 1t has been
answered by Secretary Foster as one
might expect him to answer 1t. Ii
was because it was "more convenient
and more economical"
But it was not alone for the sake o:
spending money, but to give accurate
information, that Secretary Sherman
issued two statements, one giving
very frank and detailed account OF the
money in the Treasurer's Office, ano
another one, entirely comprehensive
to ordinary people, showing the avail
able surplus" or money available to-
payment of the debt. The reconstruc
ton and remodelling of the debt state
ment was for very different purpose
| It became necessary, when the avail
able assets of the treasury were run
ming low, so to present them to tn
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 tn
apparent available assets, but the ex
pedients resorted to by him were abou
exhausted when he died. If the re
ports of the Treasurer, as made out 3.
Treasurers Jordan and Hyatt unde
the last Administration, and by MI
Huston under this Administration
were continued to-day, they woul'
show that, instead of having "ne
cash balance" in the treasury of NOR
than ffty-fve millions, the Secretar.
has only between ten and fifteen mi
lions of avilable assets. 1t would seen
as if all of the expedients that could b
employed to prevent the public from
discovering by the Government state
ment what the condition Of the treas
ury is had been employed. At a.
events, the statement of the publ
debt is now interesting chiefly for wha
it does not show, and in order to fin
out what the situation is by tearin
the report in pieces and reconstructin
it is task for which few men hav
either the time, inclination or ablllt..
This is we'll known by the men wh
are resorting to a sort of "faked
statement that is only like the state
ment it succeeds in that it comes OF
monthly, and has the the name an
assurances Of the Secretary at the foo
of it. 1t is characteristic of q part
that delights in lingo" politicians an
"strong rule"
The deposits in national banks an
the subsidiary coinage and other finar
cial "junk" is loaded into the laval
able" column, where it formerly ia
only reserved place, just to lead PEI
pie to believe that the treasury is bein
conducted successfully in spite of tt
spendthrift billion Congress. If tt
Secretary could be induced just for tt
sake of illustration to issue two repor
ore according to his "fuddling" pial
and another upon the instructive pla
in vogue three years ago, it Woul
make q very interesting comparison.
Loves Young Dream.