LOTS OF MONEY

Ashburton Guardian, Volume VII, Issue 1722, 22 December 1887, Page 4

LOTS OF MONEY

A fine strain of sarcasm runs through the following comments of the " Spectator" npon the plethoric condition of the U.S. Treasury, Perhaps it would be advisable to negotiate a colonial loan or two m that part of the world to relieve the pressure : — The American nation is m danger of an attack of apoplexy. So prosperous is the Union, that though Congress was tea money energetically, the Treasury receives (com twenty to twenty fire millions a year more than it oan spend, * and does not know what to do with It. There iB no more debt ready to be paid eff In Europe, the problem woald be solved m a moment by taking off taxes ; but the Protectionists of the Union look on taxes as good things, and would rather throw 1 the surpluses into the sea. The Secretary of the Treasury tries to buy up the unexplred loans ; but as the bonds are mostly deposited In the National Banks as securities for notes, bankers do not readily offer them, except at a higher premium than the secretary feels authorised to pay; The accumulation. ■ therefore, gees on, all gold flowß to the Treasury, and business is contracted by . -want of carrency, which In its turn, produoes a disturbing demand for gold from the Bank of England. Why does not the American Congress lend £50,C00,000 m silver to the Russian Government, to buy np its psper ronbles with ? If the Washington Treasury reoeived the interest} that would be equal to extingnisbing debt. If something of the kind is not done, the Houae of Representatives will make some preposterous grant or other, probably In pensions, meroly to relieve thefa constituents of their crushing burden of property.