Rensselaer Republican, Volume 23, Number 4, Rensselaer, Jasper County, 25 September 1890 — FINANCIAL. [ARTICLE]

FINANCIAL.

Sanator Farwell Thinks the Sub-Treas-uries Should Be Abolished. Senator C. B. Farwell writes the following letter to the Inter-Ocean from Waukesha, Wis. “I hear a good deal said in the papers about the tightness in the money market and that Secretary Windom has been; called upon to relieve it. The finances of! the country can never be in a healthy con-i dition when it is required that the Secret) tary of the Treasury shall be asked to step; and relieve a stringency which periodi-, eally ocoura. No ope man should have it| in his power to make money either cheapo or dear. ... “The government is collecting more money than it spends so that, according! to the last Treasury statement, there is! now locked up in the various sub-treas-uries of the country |107,000,000' over and above the liabilities of the Government. The total amount held in', the various sub-treasuries is somthing over? 17,000,000,000 and the Government holds as security for this vast sum of money the. bonds of the respective sub-treasurers signed by their friends for one-fortieth of this amount. “Now, if these sub treasuries could b® wholly abolished and money deposited in the National Banks with adequate security taken for the whola amount, instead of one-fortieth, which is given by those who now hold this money, Mr. Windom would not be required to go into Wall street to regulate the finances. - ‘ ;■ ' “The money would be safer than it now is, and half a million of money per annum would'be saved by the abolition of this system. There never was any good reason for the establishment of the sub-treasury system and it ought to be forthwith repealed.

The cottage of ex-Senator H. G. Davis at Deer park (M<L), which will be occupied by the family of President Harrison during the summer months, is un unpretentious little frame house, painted s?ge green with a red shingled roof. It 13 two stifcs and a half in height, has a frontage of 42 feet and is entered from a broad piazza, upon which open three long French windows. The parlor occupies the entire width of the building, in which huge fireplaces are built in the middle section of the wall which partially divides the room. There is neither hallway nor reception room. An apartment in the wing will be used by the president as a library or snug retreat flor his private use, and beyond is a small dining room finished in red. On the second floor are four sleeping rooms, reach ed by a narrow and steep stairway. Above are the servants’ quarters. The kitchen is supplied with a large hot water boiler for heating the bath. Every room is freshly covered with matting and supplied with bamboo furniture.