The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-11-23
No NEED TO ISSUE BONDS.
.-,rpr,1y FOSTER SAYS THE TREAS
JEY IS ILL RIGHT
ma, =, t,n. Taken u Good Deal OF Skiifui
,i,uru,iing to Keep II So-Larxe In
$3.50. In some Department Estlmates.

,,nru,,lnp to Keep II So-I.arwe In
4 ,,,.,-,. In some Department Estimates.
,r,.,ry,.o>. Now 22-In Administration
,,lGgtnc!al circles tho statement published
~ ypg SIS this morning. to the effect that
ii, democratic ConGrcss may find II desir-
,l,. T., ,..uo now bonds to meet the probable
dcarN in tho Treasury. after tho 9Th OF March
r,x' Us ,rcely discussed. The proposition OF
mos. ,onn or resort to an incomo tnx does
not iluasc tho Secretary OF the Treasury. how
.,.r. who still insists that the Democrats
viii to,hsaprointei II thcy expect to find the
Treasury in a BANKRUPT condition when they
~ M into power In conversation with n re.
tcluitcr Of THE SuN Secretary Foster said:
"l d. not believe our Democratic friends
", e compelled to issue new bonds TO NEE
toub|i:Ations Of the Government. They will
rrl that we have been conducting the Imam
c.u. and o! the Government In a straichtio~
v.rl. business like manner. l am not rre-
lttrd now to say lust what tho surplus will he.
iur | intend 10 use that in my annual report.
ich am MT work upon. 1t will be sum
ci,ntly large 10 disappoin. those who have
continually accused me Of juggling with tho
i.uIes and cooking up financial statements.
viii admit there have been occasions durin.
the present Administration when our cash on
hand was very low. ana when we were worried
les u';cn wondered whore we obtained 'he
,uo,,,tn ,rr,, tiIr mill moving. They appear
to have f,rEut'cn that ih" revenues nave IN
creased uve- nltceu millions. Then thefe
Is tho ius"rvr land IT. thc hationai pahES'
J.. addition 10 tn, uAcsr"aded balances IN the
custody If .he various discussing officers
throughout the iubi.r service. lnstead OF al
.,yn: tnnm to ,!law more than they actually
l.,..cu -. meet all demands. | directed the
4 tr..l
.,.!t i,iancS was retained in the Treasury.
!, ,l.a; 'npnHs obtained over SoO.OOOOOO to
i. such demands as might le made upon
t.. .!,.', ther, WAS !! lot Of small coin that
rr. %; to !. Cd :or the payment Of debts. in
=, ....ul Tia. ;,.:iJunt needed FOR business pur.
l'.r'. IT," n!1.lTnS 81 ''"''nrS o! snail coin
" D" lii..,'''. a2d silver r.rt!,lcntes were is.
,.... ,L.p i.> 'aiuc around ana the revenues
sr.Ir .uw what MAS ,eSrectcu We had ample
!ura4rt. hlr. I all obligations. some persons
-. Be- e,t., cunts, but that is because they have
i,'"' lo,r" III trouble 10 give the matter a
i4g .r'"siIGaiion.
l.et suiumer." continued the Secretary.
"w.,,. the gold wa, ."ing shaped abroad in
,g.h age Quantities We commenced to feel
,l".-y i"r i"a, wo would hav. to draw upon
70 lEs,iE. ami m. question was asked
.'tiuUr,.' rrule. that | wudld draw upon
OBJ" fr>rrr" iund il necessary to sustain the
.lH'u WITS more COLA out in san Francisco
ih.u cnUM 10 used in the ordinary run OF
tu-Ia"ss, 80 we concluded tn bring ~ome OF it
Ia,l ~ "as" Of an emergency. Our move
:lr.Lt> Wrir "aiiiad On with the most profound
,"-i.r >. ard we imagined that not u living
SUI VT those conner ed with the ira nsaction
IH-'y 4 trthiuE aaGut it. In that We were dis.
al united. lor the day the train left San Fran.
'!~," IsL .>vS announced the fact to its
ir4'. cis.
,".nin-s back The Proposition to issue new
loNi-. tn" rcirtnrr said:
cannot undertake to guess what the
li":norlats may 10. u,.. do not think there
I;..l l." any Few bonds issued. | do not think
a. irc.rt-iua: TIE i'ihl.c .ett. which we have
Tow lUN IN interest do you think new
l., nd rOaii J." Heated on z" was asked
li'at would ,.rIen,. on two things. II the
locd~ w"r" such AS the national hunks could
U.s. H. -,"nl!ty FOR currency and they were
.Gr.. Ft.ji. o. the bonds and il. in addition the
Ia, On rational bank circulation were 10 lie
l"iu ri !"n!n one per cent. to three quarters
"f "'' l'r cent. think the bonds could 10
r, .,|y 4 di"t' ut two Yer cent interest. Tho
~ ie..,..,.. tax an the ma .onHl bank circula-
tnui, ar ne .,urpos n: meetin. the expenses
a. tU- TN. an. tho Government has got
inr'yor Ivy ull!ion dollars out ~! II. A tax OF
'h'na.i,uI1n- 1T mo pcr cent. would DO suf-
i.ci'at /, NEE. al! III" evIensas OF the system.
ThrsN ne Hp Jason whv it should not be
,ll.,.lr t5N' And there. S good reason that
Low + My ia" tanks should not he Ter-
ir''r.. 'ui-~Gr currency to the full lar value
Nat1r an +