Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1893-02-24
THE TREASURY SITUATION.
HEAVY RECEIPTS AND SMALLER
EXPENDITURES.
Secretary Foster Says the President
Has Not Changed His Mind.

The treasury situatatun shows improve
mcnt. Heavy receipts and smaller expendi-
lures have had the effect OF showing 4 gain
in the net balance, which for the past few
DAYS hal dropped down to a dangerously
low margin. Ii is now about s., 600, 900, OF
which $4,000 is ia subsidiary coin aud a like
amount IN national bank repositories. The
margin few days ago was only about $780,
gO0. 90, which, taking out the two items
named left the treasury with very narrow
margin to work on.
All the heavy payments likely to accrue
this month have been made. SO far the
pension payments have aggregated SI0.-
Isl .0CO; the total necessary for the month
i, estimated at SI5.1O00O The total eX-
pcnditurCS so far foot up s2l,0O0,000 while
the receipts foot up Sl9,75OOO0. For the
remainder OF the month the receipts are eN-
pected to increase and the expenditures to
decrease, so that at the end OF the month the
account will about balance. The net bal
auCc at the beginning Of February by the
debt statement was So 26j,O6S.
Treasury officials are still interested in the
question of keeping intact the 800, 900
gold reserve. Secretary Foster authorized
the statement that the gold reserve will he
kept intact at all hazards. How, he cOull
not say, but he stated with emphasis that II
it was necessary to issue bonds to do it he
would 20 even To that extreme. At present
the free gold is more than $1,000, 600. He
said hr felt almost certain that he could
reach the end of his term without having to
issue bonds.
Even to issue bonds--say $50, 600, co.,"
said the secretary. would not necessarily
mean an increase in gold to that extent. The
law provides that bond, must be paid for in
coin. Silver is coin. What is there to pre-
vent silver or its equivalent being offered for
| bonds. Nothing. Could | refuse ity No.
| So, if even bonds were gold, would that re-
! lieyc the situation? Not unless an arrange
mcnt based on honor between the secretary
of the treasury and the purchaser was made,
and then could be subject To all sorts OF
| criticisms. The whole subject is surrounded
! by veYation. You may say, however, that
the gold reserve will be kept intact, come
! what may
! The secretary was entirely non-cOmmittal
! and apparently evasive In his answers TO the
! question whether there was any truth in the
report that the President had changed his
mind with regard to the issue OF bonds to
rcplcnish the treasury gold reserve. THE
| president i, of shooting ducks" said he I;
| ~ think his pun pose in going was to relieve
! his mind OF worries. and that he intended to
leave all thoughts ABOUT financial matters
! behind him.
"WelI. YOU may say that have received
no despatch from the President since he went
awLy, concerning bonds or any other sub
| Jet"
From other sources it IS learned that the
President remarked to friend lust before
leaving town il the cpigrammatic manner
peculiar to him This is a bond-rrdeeming
not bond.Ne ling administration
| He is said by me OF his friends who are
| generally believed to know him the best to
he ~ heartily opposed as ever to the issue OF
bonds Il is understood here that no bonds
viii he sold il it is possible to avoid ii. II is
one OF the Presidents points OF pride to go
cat Of office with record unchanged on this
point and leave whatever responsibility may
attach = bond sales to be borne by his sue
tv~>Or.