The National tribune., 1891-04-30

been reproduced in other papers Of the
same iIll:
President Harrison viii return 10 Washington 70
struggle with depleted Treasury.
This Is iu accordance with the predictions Of the
Herald months ago aud is chiefly due, as tho
Hcrold then pointed ont, 10 the heavy pension pay
ments authorized by the Republican Congress.
Secretary Foster needs all hs skin aud ingenuity
60 save the country from bankruptcy and hi- party
from repetition of the thunder-clap Of last Mo-
yember The net available cash on ihe Treasury
books to-day WAS Sll.447,454 This h scattered
through DO suhtreasurics in all kinds 81 money
go certificates silver certificates, Treasury notes,
legal tender notes aud National haul, notes. The
Government cnn hardly raise S5o0OJO nj any one
sub treasury in ans particular kind of money,
The drafts which have been made 10 pay the
direct tax refund have kept the Treasury people
busy telcgrupliug and dispntching currency, oour-
ugeousy seeking, 10y Napolcons tactics Of mass
ing his forces nt the weakest points, 20 prevent
positive failure 10 honor The Governments drafts.
Thirty million dollars Is low estimate 81 The
drafts which the Government has 90 meet each
quarter 60 pay the pension bids. Claims are s'iii
pIliug up in the Pension Oaice under lhe hNl
which the RruHbican leaders tried 10 railroad
through iu one day with one minutes debate for
/ every million dollars They failed that day, but
they got The bill through later, gnd b has not yet
spent is force Thirty million dollars i- what the
Government has 20 raise before thc next pay day,
on june 4
The question that is pugz.ing Secretary Poster
Is, how 90 do iia Tie hRs 90 meet al the current
/ expenditure in other DEPARTING cuts, which have
been rouudly increased 10y the billion dollar Con-
pres- mud Doe hns 10 save or beg or barrow enough
more 90 meet the pension drafts There b. one
other method and lhsi Is 90 postpone tic payment
Of The Nations obligations.
ID may take "a combination 81 al the methods 10
show "a margin uu thc right side Of The Treasury
books on lhr l.h ui Juur The mel surplus avail
able after the lu-i pension day was about S900oom
Since thrn sev,n weeks have passed md the
amount BIAS been increased sl,501010. six weeks
remain iu which 60 save nearly $50 u01oo0 out OF
/ the current receipts. The Treasury cannot spend
1 be- last cent Tor pensions Tor working balnucss
have bc kept iu tile sub trcaSures TO meet cur
! rent demands aud these foot up several millions.
Ne1rly s31ubdOl0 must bc raised some Way
within The next -K weeks. and IL evidently cannot
! bc suved from the cuueut receipts.
There WAS a column or so more Of this
sort Of stuff, but what We have quoted is the
gist Of the whole iarago
There is absolutely uo basis whatever for
this clamor il isa lie made ont Of whole
cloth, for the sole purpose Of alarming the
! people against pensions, and indting them
TO demand sweeping reduction Of the eK-
penditures by The Bureau Of Pensions. The
Herald is SO wild on the subject that it cares
not what harm it may do the business OF
the country, what injury it may work to
public and business finances If il can only
succeed in dealing deadly blow at pen
sions. 1t would preciptate a panic and
iuaugurate widespread ruin il it could only
overthrow pensions
The Editor Of THE NATIONAL TRIBUNE
interviewed Secretary Foster IN regard 10
the condition Of the National finances, and
he said:
"That stuff is utter nonsense. II has no
foundation IN fact Oar finances are il the
hest possible condition. It's true that We
have an expenditure OF about $50 600 o0o
to meet by the end Of next month, but there
Will not be the slightest difficulty about il
Our receipts arc much larger than the est.
mates, and vail come within from S5oO0,OOl
70 $1o0O0000 Of providing for the expeudi
lures. To meet whatever may be lacking
from the receipts we have an abundance o
ready cash ia sight
"The payment OF the 4 per cent bond
has nothing 10 do with the matter TLel
viii not be due tilI next September, aud tb,
people who hold them don't want them pal,
then il is a question whether it is bcs
for the country that they should he iakei
up at all. They are mostly held by bank
aud deposited with the Treasury as securit
FOR circulation To take Them up woul'
compel the withdrawal Of that much circu
lation, and consequent contraction Of th
currency. The banks would probably prele
10 continue them without interest, il the
, can do DO better, and certainly they viii D
glad to continue them at per cent Inter
est ceases on Them at maturity, and if th
banks can do no better many Of them wi
allow them 10 simply Die in the Treasur
that they may keep their notes in circuls
j. ton"
d Robert o. Leeeh, Director Of the Mint,
D still more explicit. IIe says:
e The amount 81 money Ia tie Treasury April
was over SOL 100000 Of which sigLO.0OJ0 ul
q trust money. hcid Tor tIe redemption 81 gol
lf silver aud currency certificate, aud thc balance
s25s 100000 belonged 90 li.e Treasury just abs
u luicly A. amy property which tho Governmc
Is owns. How there can be- uHy possibility % n
Government failing 60 meet Be- obligations w
This immense sum 81 absolutely free cash On haas
n. D. difficult 90 cohesive J hold THAI the Cover
mcut OF the United States has in he vaults 10 dH
,, iu good hard money ever S-Js 100000, HyalAbIef
any u the Legitimate cKpru-o- 81 The Cover
nleut aud thal BE- b. 44dicrious Go talk about the
being The slightest probability o. any ohligati
q of the Government bciug dirhouorcd That q
Secretary should consider ID wise 10 convert all
y a--ots into the most available money aud to a
oud convert fhn large amount 81 Subsidiary sly
coin iut0lHvlui money, and that ho should draw
from National bank dcposit0Iics money viii
IL may Dee needed by tie Government seems a.
ucuIy proper. Ihc receipt. 81 the Government a
be- larger by many million doilars FOR the pres,
l-Cul year chan Hlls anticipated. il the HVaial
funds la the Treasury are Jess now than in form
., periods Of our National history, IL must not
X forgotten that there have been purchased aud
an Tired since thU advent 81 this Aduusirnt
slsg HfI3 gJJ Of Interest IIrufiuv bands al pUsf