The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-26
OUR FINANCES ARE EASY.

Anticipating Possible War, the Gov
eminent Counts Its Cnsh on Hand.
Washington, February '25.-The condition
of the treasury, should war with Spain
come, is being discussed by public men
and treasury officials. Notwithstanding the
currency problem. no alarm is felt by the
majority OF those who give the question
consideration. Secretary Gage himself
feels no alarm or worry over the situa-
ton.
The available cash balance in the treas
ury today is $225, lis 969, or which slbi OIL
425 is gold, 500 10000 900 being the traditional
gold reserve. In case OF war with Spain
the gold reserve would have to be main
tanned Taking this much from the avail
able cash balance leaves $l25000,0Oo in
round numbers cash amount of this.
Secretary Gage estimates. would have to be
kept for the regular business of the coun-
try-for use in the subtroasury to meet the
demands OF trade and commerce. 1t is es-
tilnated that $40, 000 would he sufficient
TO keen in the treasury in addition to the
stipulated gold reserve. There is now in
The treasury therefore, ST5, 100000, which
could be Immediately used in case OF II
declaration of war; OF course, the ordi
nary policy OF the administration would not
be to decrease the available cash balance to
SaO,OOO,OoO but it is thought that bUsiness
could be safely conducted on that basis
pending legislation or action TO restor"
the normal condition of affairs.
In addition 10 the sum named, the admin
istration has before 1t the prospect of no
longer running behind in expenditures. In
creasing customs receipts and the revenues
from other countries have reached health
| full slate. The phantom of continual
monthly and yearly deficit no longer stares
hn Colo l.
Ideact which viii show at the end of this
fiscal year MAS made In the first months
of the year before the Dingley bill got
| fairly started and it is now doubtful IL
there viii be another month 10 record n
deficit, unless II is April. when heavy quar-
| terly payments of interest have to he made
Last month it is predicted by many off,
Gals was the last one which Will ever
show a deficit, under the Dingley bill I'M
less, OF course, war should arise the OK
penses OF which could not be considered as
belonging TO the regular expenses of the
government. So, in talking about what the
government would have To paw out to whin
Spain, there Is not the great fear that the
receipts would be continually running be-
hind the expenses. necessitating inroads on
the available cash balance as heretofore.
me regular expenses would be paid out of
tAe regular receipts, and the cost OF whip
ping Spain would be q separate account,
predicted IN many quarters that by the
tlme Spain had been thrashed the receipts
would be so far above expenses as to allow
sum TO be set aside every month TO wipe
out the dept incurred in fighting
Ihe large amount OF gold in the treas
ury is particularly a scs.~ce Of congratula-
ton among those who look for a brush with
spain In the near future. In this respect
the treasury is stronger than in eight years
The amount OF gold given is free from in
ennprances. There is really 5000. 4s7. $40
so,u IN tne vaults OF the treasury. but $685.
fit,o29 Is deducted from this Tor outstand-
Ing GOLD certificates. redeemable on demand
leaving si67, 04i, 42j. How much a war scare
would attack this amount OF gold has been
TAXED over, but II is not thought THAI II
would be depleted largely by reason NJ n
war With Spain, The confidence az short
war. II is estimated by Secretary Gage
Mon'f have more effect In this direction
than patriotism or anything else RIM
~ any kind on the treasury would prob
ably not last long II begun. Congress
could stop It In any event by putting, into
tn hands OF the president and secretary
q the treasury power to guard the treas
urv This rover would probably be such
as 70 cut SHORT the designs OF the unpa
triotic. 'As "'''A
In his Chicago speech Secretary Gaze
pointed out that at the beginning OF tha
oNii war this country was not carving
much debt. AS result OF that war the
Of sS46 900. 900 w.
IN fase Of protracted war with snslu
or with any other country. II is thnmrh,
,nal GOOD deal OF gold could he obi aimed
IN ,hls country, a war or war scaxs. II IL
saia py treasury officials. drives gold fur