Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-21
A TREASURY DEFICIT.
Although More Apparent Than Real
1t Is Still Quite Serious.
THE GOLD RESERVE TO BE USED
When the Deposits in National Banks
Become Exhausted.
GREAT BURDENS IMPOSED BY CONGRESS-
THE GOLD RESERVE TO BE USED
GREAT BURDENS IMPOSED BY CONGRESS-
trRoM A STAFF CORRESPONDENT ,

I'll
WASHINGTON, June 2O.-The apparent
deficit in the Treasury, according to the
statement of the Treasurer, is theme for
no end of gossip. The Democratic poll
ticians in the city say: 'I told you so,%
and the Republicans confess they don't like
to contemplate it. OF course, there is no
real fear that the Government will be seri-
ously hampered for funds, but no person of
Importance will risk prediction as to where
the financial end of the national business
is going to land. Of course there is no
actual deficit as yet. If the receipts could
be counted up to the moment when the
Treasurer makes his statement, they would
be found to more than cover their expendi-
lures, and back of that there is about S23,-
OOO,O 900 of deposits in banks that is avail
able; but where the rapid cutting down of
the surplus, and the fact that the national
debt has been decreased less than three
millions during the last four months, are
contemplated, tits easy to see that if this
policy is maintained the Treasury must
needs soon run short of funds
1t was frankly admitted to the corre-
spondent OF The DISPATCH to-day by a
high financial authority of the Treasury
'La' 1h0 enIployHenI OF tne gold reserve
was one of the probabilities of the near
future, following the exhaustion of the de-
posits in national banks. With this condi-
tlon of things at the close of the first fiscal
year, which has had to bear the burden of
the increased appropriations and decreased
revenues of the Republican Congress elected
coincident with the election, after a four
years interregnum of a Republican Presi-
dent, the outlook at least gives assurance
that the Treasury authorities will have to
exhibit more shrewdness than has been de-
manded for years to get safely out of this
financial ENHANCEMENT.
With its vast surplus up to year or two
ago, the financial machine practically nm of
its own impetus. Now the most eOnsumn1ate
management will be imperative, at least for
the next fiscal year. if the Treasury is not to
be entirely denuded of its wealth, and with
a void back of that and no source from which
it can be filled.
Even should this happen, it is possible it
would be no worse than a passing ineon-
venience, but if those to whom money is due
from the Government be compelled to aw9t
the shifts of another Congress, it will be
severe reflection on somebody, and it may
hit hard in politics where hard hits can least
The Treasurer's statement issued this
morning, bearing date of the 18th inst,
shows an overdraft of s34, ,733, against which
there are S23, ,2S7, 167 on deposit in national
banks and 500, 199, ,O4O in fractional silver.
The apparent deficit is 100000 less than
appeared in yesterdays statement. The
following statement shows the actual situa-
tiOn to date: Available cash balance June
1, exclusive of deposits in national banks,
SO, 1873, ,473; receipts to June 90 $50, ,O72, 26O;
total, $50, ,21O, ,734; payments to June so (in-
Guiding s1S, ,312, 155 for pensions), s26, Ill.,
800, leaving an available balance June 20 Of
So, ,43S, 1874.