The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1894-09-29

cash in the treasury, and July j,
1890, S54 ,475.75 of this fund was
transferred to the available cash.
Thus Harrison was enabled to con-
tinue the purchase of bonds at a
premium. But the monthly debt
statements began to show deple-
ted treasury, and in order to make
a better showing on paper resort to
Juggling with the statements COM
menced. Treasurer Nebeker, Har-
rison's special friend from Indiana,
in his report for 1890, page z, says:
"Since June, 1890, the form of the
published statement of assets and
liabilities has been twice revised"
On page he says it was "recast."
Why it was "revised" and "recast"
is plain. 1.-THE old form had been
continued it would have shown that
there was not dollar of available
cash in the treasury. But this was
not the last time it was "revised"
and "recast," as will appear further
on. president Harrison in his
speech said that "delicacy forbids
me to say much of the last admin
istratiun," but for his subordinates
he says "thnt there was an attempt
to act for the best interests of the
people" 1t was Il very feeble Sat
tempt"
JUGGLING WITH FIGURES.
Was it "for the best interests of
all the people" that the public debt
statement should be three times
"revised" and "recast?" that $780,
105,0l3.25 derived from profits on
coinage during the fiscal years 1889
to 1891 should be used to buy bonds
OF premium, paying rs high as
Sl2S for them, and at Il time when
the treasury was on the verge of
bankruptcy? and was it "for the
best interests of all the people" that
$780,, ,S07.03, collected from "ull
the people," should be paid out to
the Jew favored bondholders as a
premium on their bonds? The enor-
nous surplus turned over by Cleve-
lend, the bank redemption trust
fund transferred to the available
cash and the profits on coinage furn-
ished II rich harvest for the bond
holders. The taxes levied ON the
people by the tariff laws continued
to replenish the depleated treasury.
The protected manufactures want
ed some part Of the plumber under
the Harrison administration. The
Mckinley bill was passed in Octo-
ber, 1890, and the receipts from Gus
toms fell from S2l6,s22,205 in '91
to $177,452,964.15 in 1892. This had
its effect OH the cash balance, and,
with the billion dollar congress,
created CONSERVATION in the treas
ury. Another juggle with the debt
statement must be made. Again
it must be "revised" or "rccast," or
it would not show dime of "avail-
able cash'' in the treasury. The
statement for June !, 1891, gave the
net cash balance at $33,342, 200 96.
This looked like bankruptcy, and
July /, 1891, the statement was Ere
vised" or "recast." Prior to this
date the nickels, dimes, quarters
and half dollars appeared on the
statement as unavailable funds
The nickels, dimes, etc, are now
trotted out and made to do duty as
available cash, and thus help swell
the cash balance. By this transfer
the available cash balance was in
creased to $53, 1893, ,sOS.s3. This resort
to nickels, dimes, &C., was humil.
iating act for the Harrison admin
istration, and properly designates
ii as the Dime Administration. A
CAPITAL ALARMED.
But business men were not to be
fooled by making available funds
out of nickels and dimes. Capital
became alarmed and the gold
stream started across the ocean
Under Harrison the excess of ex.
! ports of gold over imports was
$l57,ss9,s03, while under Cleve.
lands first administration the i'm.
ports largely exceeded the exports
In the meantime the Mckinley ACT
with it's vicious provision for pay.
ing drawbacks made another drain
on the treasury, s,6r3,439.l4 being
the amount repaid importers in
1891 and 1892. See Secretary Treas.
uHy report of 1892, page 20.
uARRIsoN's BANKRUPT TREASURY
From July, 1891, until the close
of Harrison's administration the
treasury was practically bankrupt
The last statement issued March
1893, by Charles Foster, Secretary
of the Treasury, places the net cash
l,I,,,o - Uof 100 nor 70 rI.a