Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-10-08
THE ARGt S.
SATURDAY. OCTOBER 1892
TALKED FINANCES
Secretary of the Treasury Fos-
ter in Maryland.
STATE OF UNCLE SANS CASH BOX.

Reply to stevenson's Criticism of the
Democrats Decline to Agree to the Flu
sion Ticket-Some More About Pennsyl-
vania's Predicament to BaIlots-Com-
bincs in South Dakota and Wyoming
Decision Filed in the Wisconsin Gerry
mander Case-Campaii.n GIeanings.
FREDERICK. Nd. Oct s-Seoretary of
the Treasury Foster and Hon. Ben Butter
worth, of Ohio, representative, spoke here
last night 10 large meeting of Republic
ans. The secretary made a lengthy speech
upon the political issues of the day. He re-
viewed the history of the two great parties,
and said the accomplishments of the past
showed the tendencies of the future. "The
country needs a good, strong party to
criticise, to find fault, TO scold, if you
please. As fault finders the Democrats are
a remarkable success. They may he de
nominated common scold. As critics,
am not 50 certain Of their value. But as
n governing party this country has no use
for thcm.7 \ good part Of the speech was
taken n , with an exposition of the financial
condition of the government, in answer to
charges attributed to Stevenson, Demo
cratic candidate for vice president, in his
Replies TO the Democratic Nominee.
Upon this point the secretary said: The
press credits him [Stevensonl with saying
that there was turned over TO the Harrison
administration $780, 900 of money, and
that notwithstanding this fact the present
administration was not able for the first
time in the history of the country, to pay
its debt when il matured He referred, no
doubt, to the Al per cent bonds. By i'm
plication, at least. he wants to know what
this administration has done with the $780,
10000 surplus which he alleges was handed
over to us. If he were not ignorant upon
the subject he would know that this ad-
ministration has redeemed and paid off
$3.50. O93, $50 of its debt at a cost of more
than S296. 900 900 and with a saving in in
terest by the time the right TO pay natures
of sos 352 ,493. 81.
Refers to an Ofcial Notice.
"What about the inability of the govern
ment to pay about 100000 of ~ per
cent. bonds, thu right to pay them matur-
ing Sept. /, 1891, and which Mr.. Stevenson
says we could not pay; If he will look at
any prominent newspaper of June or g.
1891, he will find the notice of the secretary
of the treasury to the holders of these
bonds that the bonds, the whole of them,
will be paid on the 2d of September. Can
Mr.. Stevenson truthfully say, in the face
of an official notice that the governmeI.S
would pay these bonds, that the treasury
was bankrupt and could not pay them:
Twenty-Five Millions Redeemed.
what else was there in this notice. 1t
informed the holders of these bonds that
the government would consider PROPOSE
tions for their continuance at a lower rate
of interest, reserving to the government the
right to pay at its pleasure. The holders
of more than S25, 600, 600 of these bonds
quested that they be continued at per
cent, and this administration enjoys the
enviable position of having placed a gov
eminent loan at a lower rate of interest
and in a more advantageous position than
any government on earth and of having il
Illustrated by practical test that the credit
of the United States government under the
presidency of Harrison enjoys the highest
and best credit it ever before enjoyed. The
remaining So, 0o0, 900 have been paid.
The Treasury Not at All bankrupt.
"For more than eighteen months the cry
of bankrupt treasury has been kept going,
but at all times the treasury has promptly
met every obligation of the government.
Our Democratic friends have put them
selves in the unpatriotic attitude of desiring
n bankrupt treasury. This administration
does not expect to add to their pleasure in
this respect" The balance of the speech
was devoted to showing the evil results flow
ing from state bank currency.