Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1892-01-27

in the House to-day Mr.. Dockery
gave some healthy facts and figures.
Among other things, he said:
"The statement of the Secretary of
the Treasury shows met cash balance
in the Treasury January 1, 1892, to
be $34, 574, 1880. The items of this
apparent surplus are: Subsidiary
and minor coin, S14,10S,9S5.35 de-
posts in national banks, SIS, 437 $685.
81, and cash in Treasury vaults,
sh,027 ,573.04. Deducting the un-
available item of subsidiary and
minor coin, it is oblivious that the
available cash balance upon which
the Treasury Department can rely to
meet maturing and past due obliga-
tions is but $40, 465, 14205. Although
Secretary's Fosters statement declares
an excess of all expenses over revenu-
es for the first half of the present fis-
cal year of $273, 464.57, it is probable
that the current revenues, together
with the meagre Treasury surplus,
would be entirely adequate to meet
the demands of an economical ad-
ministration were it not for the over
due liabilities imposed by the Billion
Dollar Congress. The aggregate of
national income for the present fiscal
year is s544, 53l, 672.55, but after the
deducting Of the amount required for
the sinking fund. together with the
estimated postal receipts, we ascertain
the liabilities for ordinary current ex-
pendtures to be 1922 sol ,521.29, or
S2l1,2 50,760.64 for the half year just
closed. The expenditures for the
same period having been but $780,
01S,751.8S, it becomes manifest that
$95, 232, 4OS.76 were appropriations as
yet unpaid. In addition to these out.
standing liabilities, the accomplished
clerk of the House Committee on APP
preparations estimates that the unex.
pended appropriations of the last fiscal
year aggregate $30,256,177.s0. Ir
other words, that of the appropriation
made by the Billion-Dollar Congress
for the last fiscal year and the first
six months of the present year there
remains SCI, 488, 1866 due and un
paid +; that the Treasury surplus is only
$40, 465, 1925, whilst current ex'
penditures are outstripping current
revenues. If to these unpaid mort
cages upon the resources Of the Gov
eminent is added the $25, 1854 500 of
Al per cert. bonds refunded, and the
$40, 224, 92S.65 demanded by the oh.
legation Of the sinking fund act, ii
becomes apparent that the matured
national indebtedness now aggregate
S140,077,615.26 In the presence o.
this fiscal exhibit, an actual Treasury
deficiency is apparent and imminent
Indeed, the officials of the Treasury
have been compelled to tax their in
genuity to the utmot in order to avert
such disaster pending the Presiden
tial contest. 1t was the lavish ap'
preparation of the last Congress,
coupled with anticipated reduction Of
revenues by prohibitory tariff duties
which compelled the Republican
party to wrest from the holders of ma
tional bank notes 4,207 ,975.75 and
cover it into the general Treasury
OF this enforced loan $32,679, 299. 25
is yet an outstanding liability. 1t
was augmenting expenditures, and
the dwindling revenues which coerced
the administration into the suspension
of the sinking fund and the refunding
of S25, 1854 800 or the bonded indebt-
edness maturing September 1, 1891
1t was the Same fiscal exigencies con-
fronting the Secretary of the Treas.
ury which induced him to change the
old-time form of stating the national
debt so that the 'chip-whetstone' Of
the public treasury, with its trust and
reserve funds, should be made to take
the place of the money which had
been wasted in prodigal and partisan
extravaganza. The condition of the
Treasury may be briefly summarized
in the statement that the available
surplus is now but $40, 465, 1895
current expenditures outstripping cur
rent revenues appropriations az
gregating S65, 48S, 1866 are unpaid
the administration has been constrain.
ed to ask an extension upon $25, 1854,
500 of the bonded Indebtedness of thu
Government whilst actual default is
made in s49,225,92S.65 required by
the provisions of the act establishing
the sinking fund."-Ex.