New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-13
HOW THE SURPLUS WILL BIZ USED.
IT WILL BIZ NEEDED TO MEET PENSION FAY
MENTs DUE NEXT MONTH-> NEW

MINIS DUE NEXT MoNrH-A NJ"
METHOD OF PAYMENT.
Washington. jan 12-Scc,etary Window i authority
for the statement that the growing Treasury surplus
onunot now be used in the purchase OF per cen,
hords for the reason that it will be needed 10 meet
pension payments due next month aesIcEa''"s
s15 600 900 The available cash surplus Is no" @lo'
600 OOO but by continued excess oil receipts over ~
pendttures will probably reach the required amount
hv tbe fine Indicated secretary Window is OF opinion
that tbc busine,s Of the country will he Improved
bv making these pension payments monthly hi'ean
Of quarterly as at present. and he has MADE rec
ommendaton to that eject 10 the proper 'onsic''oha
committees II this is done. he says, II VIII 10 away
with the present necessity of keeping large sum OF
money i'm the Treasury vaults for three months "'l
II might Just as well he in the hands OF Inc people
entitlV TO it.
Later in the day Secretary Window explained that
nv changing from quarterly 10 monthly payment lie
meant merely 30 to alter the system rs 10 provide tha'
in the future oil the payments shall he maze throughout
the country on different months and in that way MAKE
n,vments every month instead of only every quarter
as at present.
In a letter TO senator Allison, chairman OF the
senate Authorizations Committee. this subject
Secretary Window says:
In response request have examiner ne u'''
an amendment submitted by the Interior Department de-
signed % carry out the recommendation In my report Tor
change in the periods pension payments are mdu anu
hco 20 return the with the statement thaI III NY
oDnion 10 WILL il enacted into law, have the cnect u'su
H. Is opporune 10 the fact that o principal T%oh
which nrompted suggestion for this propos Nch' -
that the present system o paving all the pensions upon the
same dav Of the month four times year Involves ue a'
emulation in the Treasury Of large sums OF money during
bo interim between the dates Of payment II the period.
n, p,vmen are increased twelve this Withholding "
money from circulation will be- avoided and NOR" oven ana
continuous row Of money dbu-ed on account ~ pensions
will be secured In addition 10 THU the change VIII %" ~
Great benefit T. the ss-isant tr'7suirrS upon
whom the checks drawn, IN the di~tribl'
tion Throughout the year of inc 'I'r'ai
ahor involved In thi, connection quote nom ett'r
from the Assistant Treasurer at New YORK: 'Ihe recon"
pcndaton Of page 10 ~ annual report Just trans
ittcd to Congress the ADVANTAGES {" be- 3'd
bv the proposed in the periods for the payment q"
pension checks so concuSVoy 70 Justify th' b'f mat
the law VIII be modified b. carry out the suggestions
The change would Furthermore BE- Of great value {" THIS
Office a. 10 would distribute the labor In connection win
the pavmcn and rducc N" severe strain now caused
a. the beginning q each quarter by tho vast volume 81
checks coming from the several agencies al At once
regard the proposed change a. important IN t' RIA
ton operations Il the Treasury Department
and believe Dee valid objection to the plan
suggested.