Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-08-30
Washington News.
Special to the Times Star.

hpSSAdA " NhN AluuNe7D 4
WASHINGTON, August 28. - The
government receipts for the present
month bid fair to be the heaviest tor
any August in the past fifteen years,
and to strengthen the prediction that
the years surplus will be $500, 900, 600.
Already this month the receipts are
more than were those o. the entire
month of August last year. Upto the
25th instant they were in round num-
bers 81 100000. At this rate the re-
ceipts for the month will be over
100000 on an average of mil
lion and a half per day, including
Sundays; or following it down further
$50, 900 per hour, or 5000 a minute,
waking or sleeping. A very prOmi-
neht Congressman from Massachusetts,
said to your correspondent in speaking
OF the wonderful income OF the gov
ernment:
mo civilized country ever had such
an experience. Think of It'll Our
money is actually coming in so fast,
that it is becoming dangerous to us,
and We are unable to stop its coming
Other countries are at loss to know
how to increase their income, we are
troubled to know how to lesse1 ours. p"
The expenditures of the government
this month have been unusually large
because ofthe many calls under the
appropriations Of the late Congress.
They have been coming in at rapid
rate, and the officials in charge OF the
disbursement Of money say that the
number of vouchers and orders to be
met this month is greater than in any
preceding month, for many years at
least. Tue rush" however, will soon
be over. Notwithstanding the fact,
however, that the demands have been
unusually heavy the receipts for the
month will exceed the expenditures
by about $l5,OO0,000. The expendi.
lures up to date have been $22, 500, 600
which is in excess of the expenses fol
the entire month of August last year
The surplus of this months receipts
indicates that the next bond call will
be for at least $l5, 100000. Wher
that will take place, however, is diff
cult to say. | asked Secretary Folger
about it to day, and he replied that
he could not tell much about it just
now.
You see," he said, 81 cant tel
what bonds to call now. Under thi,
exchange plan it is probable that many
Of those which | would have other
wise called have been offered tol
exchange, and | see no way now but tC
| wait until the numbers of those Offered
are known, so that in making the cal
| may not include those. We have
plenty Of money on hand, but / don't
see how it will be possible to make the
call for some time yet.
This leads to the further reelection
that no limit has yet been fixed fol
the time in which bonds may be sent
in for exchange, and it is not improb
able that by reason Of this fact that
the call may be postponed until the
middle of September.
The OUhhENU1.
The decision of the Treasury De
partment that the usual process Of
redemption of bank notes must be
gone through with by the banks which
return their old currency on taking
out new charters, is causing a good
deal of demand for greenbacks and
gold and silver certificates. These arc
to be deposited In the Treasury while
the new notes are being issued. The
result is that there is great demand
for them here and elsewhere, and il
looks as though greenbacks would be
at a premium for a short time. This
question of issuing new money to re.
chartered banks was pretty vigorously
discussed in Congress when the bill
was under discussion, several taking
sides against it, but it finally carried
| Hence these tears. l.lr.nc
AMERICAN LIFE INSURANCE ABRODA
A singular fact came to the notice
Of your correspondent to-day in regarC
to American life insurance abroad
Acting Secretary of the State, Davis
who, by the way, is both "a gentleman
and a scholar" }" and who merits higl
regard from the people of the country
in, speaking Of tie fact that Franc,
had decided to recognize American
corporations as corporations, said tina
the matter was a very important one d
the life insurance companies of thii
country. yrdtr.
DO you mean to say" / asked
that the life insurance companies 0
! this country do business in France r,
Certainly, and great deal Of it,
he replied. dolAu aoissel
do the life insurance companies o
this country do life insurance bust
ness in Europe" mU 5w
Yes; aud a large one, too" laa
How does that come about2 PIN
Simply, ! suppose, because tn
companies of this country study tn
} subject more closely and have it re
. duoed to more thorough system
Yes, they do large bushes in lie in
surance abroad" nI1sl
An account is given in English Jour
nails of the performance of loeomo
} tive engine on the Great Northeri