Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-12
TT IS JUST a LITTLE OVER $500
900, 900, TT APPEARs.
NOT A VERY LARGE AMOUNT.
Rut Not So Small as to Cause Any
A1urm-No Withdrawal of Gov
eminent Fund. from the Banks,
However. Suggestions to the Con-
trary sotwitl,.tnndins.

WASHINGTON, D. T., NoFeiiosi
,1,-The various suggestions that
Secretary Shaw may pe compelled at dis
time tn begin to Withdraw from deposito-
ries of government money some OF tue
funds to the credit of the government
are not considered as in the least oaseo
on knowledge of the Secretarys lhtsii-
tons. The best information secured at
the Treasury Department is that the Sec
rotary would not even consider q Will
drawa! of public deposits from the nfnhs
at this time. unless there should arse
some great emergency not now toreSeen
by ANYBODY. The possibility that the re-
CENTS NAV drop so far below eXpendl-
lures at arv time as to further reduce
the cash balance in the Treasury is
thought to be too remote for even specu-
latiGn.
To-tlay.s statement shows that the
available cash balance of the Treasury,
including deposits with national BANKS,
is s204 227. 500 To the credit OF the United
States Treasurer with national banks is
the sum of s143635,i2S. and to the crealt
of dishursng officers in the same banks
s.. o9s, 1874. making a total of sl5O I34,o60 Of
government money in possession of the
banks This amount. deducted from the
total available cash balance, leaves a
cash balance in the Treasury proper OF
$50, 493. 1S9 which is considered TO pc as
low an amount as the Treasury Depart
ment is willing to do business on. From
an entirely Treasury standpoint, now
ever. the amount of money with national
banks to the credit of disbursing officers
is considered as a part of the working
cash balance of the Treasury. and it is
oSI tam 60 q
arrive at the cash balance in the Treas
ury.
SUBSIDIARY COIN.
For instance there is subsidiary silver
coin. minor coin and silver bullion in
the general fund of the Treasury, to a
total of about S9.906,ol2. This silver is
useless should it be rendered in large
amounts for the payment of debts. and
has not the same ranking as gold coin.
gold certificates. national bank notes, and
other forms OF money. The method.
therefore, is to deduct this total from the
available cash balance. Eliminating this,
the actual cash balance i'll the Treasury
nroner would be just a little over $50
600, 600. This Is small working balance
Eut this sum is not so small as to cause
any alarm. There is no likelihood that
there will be a material deficiency in the
months business, either this month or
next, and the consequence will be that
the cash balance in the Treasury will
grow, especially in view of the fact that
no more deposits are to be made now
with national banks, and that the money
from Internal revenue receipts Will be
turned into the Treasury. instead of ne
ing diverted to banks Even should the
cash balance in the TreaS ury proper dwin-
die still lower, for any reason, Secretary
Shaw would hesitate to withdraw money
from the banks. There will be a slow
process of withdrawal anyhow, by rea-
son of the liquidation and consolidation
Of banks. without the Seeretary's having
precipitate trouble in the money market,
ana might bring about serious danger.
NEEDS OF NEW YORK.
Secretary Shaw is at present concerned
with the fact that the cash balance in
the Treasury is SO small! that he is prac-
tically placed WHARF he would be unable
TO respond to need for more money in
New York. Treasury and other officials
are inclined to believe that there is No
real need of money in New York for Ie-
s1tlmate business and that the nervous
ness evident in the stock market in the
last few days is attributable to over
specula ton. The Treasury would not extend
any assistance to Il speculative market
even If 1t had the money. The fact that
" IS n''ori'' e"iIipped 10 do anything more
TO help the financial market is in itssl
capable OF producing nervousness among
these andulSlnS IN speculation, ard who
are looking forward to {. Tightening ~
"a ties !..r money