The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-10-20
81 go. 81. 300

Mad you, ths IS the serious statement
Of a member Of ne house ot rei's $50. . 3,
tlsss from tl.c state Of " &si1ing ton. 1T -
no Test Vf me bat e Is gooG material
for tins Post Iuteiilsencef' eNee4ient artist,
sl.. further informed roe at my reqaes.
that the cost 81 tfse reuelli0n Hss oHiy
tg.at 30. mid contradiction Only en-
phgs.zed his information. TIE orlslhA
cost. without Interest, VAS nearer u. "S'-
Gaot1. gSee any authority other inan
He also sustained Mr. Vance In his con-
teatson that the treasury bulletin or oct0-
Der H. published In the acknowledgement
Saturday showed an available cash balance
Of xs2s 343. 3io. When ] replied that tge
gold reserve mentioned In the bulletin was
Included In the reported Casn balance OF
30a 40 81 and should not be added 10 IL,
he said | all wrong, Then suggest
ed we wire Secretary Gage ian audience
having assembled and let him say who
was wrong. lie answered rs knew more
than Gage and he would not accept ain .
Ga authority upon treasury STATISTICS.
Then We adjourned.
Referring 70 MI Lewis confusion u TIA
b'il,les and resources debts and credits,
cash on hand AID casa 30 gei, bon1in as
sued and bonds untsSued, certificates OF
indeotedness, II needed. and MS generally
astounding computation. the third Item IS
the national bank redemption fund o: ,
per cent. that must be a. ali times KEEP
on hand In the United states treasury for
the redemption Of bank circulation tsec-
tion 3 act June 20. 1870. Possible receipts
from the war revenue law. Jan" i3, for one
year. are estimated by experts from slio.-
o.. trs 10 size. go.
The treasury certificates OF indie btedness
mot one has been isauri} are provided for
by section - of the act of June u. 10 meet
public expenditures. the revenues falling
10 nlateriailzed IS fast "A the cost % tn"
war the life Of the. certificate not 10 eN-
coed one year and the amount a. no time
To exceed SlH.Ga@c0. MIR Lewis treats
them as issued. The atsugasty of this in
ciasion is manifest
The secretary OF the treasury was au-
thorlzed TO borrow Si"or} &c II need -
defray war expenditures ard for no other
purpose. He borrowed through an issue Of
bonds $50 eos .t'ni Lewis insists that he
should include In his statement OF the
war debt" the to;al authorized sum OF
sA3e1,ls1 and add the interest for twenty
years. even II the government has the op-
ton az iyIng these bonds off in ten years
and only S1Wo.Jseo j. borrowed.
Still more absurd is mo inclusion OF Nc
C!eaFv's bonds. provided for In a banking
bill that has only reached The calendar of
the house ef representatives, and pro
vision as foreign 20 the war debt as the
gcnt!Enaus salary.
All that Ny Lewis can get out Of hls
statement for war debt IS the 500 ',lo 500
bonds and the receipts under the war rev
enue law. tAa' viii not have exceeded $Sl .
ea.N1 when congress conXeucs The cost
Of war, direct and Indirect will not exceed
s-anest.de0. JOHN \. REA.
AIR Rta might have added that ano her
snperlativelv amusing feature OF Col
Lewis eStraord nary computation q ihe
war debit" Is his Inclusion ~ the 1851
Do,0e4 appropriation bills or course. all
persons Il common intelligence know that
an appropriation hi Is simply a specific
authorization - use q certain sam az
moaey. Congress appropriated sitl tso $50
or ao much thereof as might hc necessary.
for expenditure ia the VAR. The $ot0 ;so. az
bonds were SOLD jo raise money fcr this
proposed expenditure Thu a&atabl. "a p.
balance ia %" treasury deSs than sl.a s.s) O.
em in March lHsp and the war ~e1suue b.ll
from which not an" ron. Il Income wa- de-
rived until after Juur = were depend. !
upon fof the t>t!Arre. T. s. ohy.rus nays
that the $50 tt'1.1o1 appropriation vas nisfe
than spnicleu. The wa hss hren ever
Som" time, expenses b3sc h-.n r,.1>s3Y Co.
dared ANA 5e moHY s. pias np ia tNa
traaa4IrF- rhe War tst.9 ~ ha al..itse
81 ~ tie rtal nE re-..se~ Tee whole
matter OF wsr unaoea s. t34s a.a.ply *
pi1juct