Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-12-21
TALKS ABOUT TARIFF AFFAIRS.
Favors an Income Tax on Certain Inc
comes-wants whisky Taxed
More-How to Make Up
the Deficit.


during the first five months oil the pTeseAt
Gscnl year the expenditures exceeded the
rcoeipts S29,9ls 005.G6. There has been
not only a decrease OF receipts, but also
an increase of expenditures. The result
Of these changes Is that on the lst day
Of December the actual net balance In
the treasury, deductins the bank note re-
demption fund, out standing drafts, etc,
discussing officers balances, agency ac-
counts the gold reserve was only Sill
o3s,4lS2J. The secretary says it may
BE safely assumed the worse elects OF
the recent financial disturbances ana
consequent business depression have been
realized and the condition will he much
more favorable hereafter for the colleo-
lion Of adequate revenue for the support
Oi the government but 10 can scarcely
DC expected that receipts the remainder
Of the year viii exceed expenditures Tor
the same time TO such an extent ns 20
prevent very considerable deficiency. He
therefore estimates q probable deficiency
OF $2s,OOO,UOU at the close OF the year
aud recommends that the act for the re-,
sumption Of specie payments. approved
January IL, 1910, De 80 amended as 90
authorize him 10 issue aud sell al not lees
than par In coin bonds TO mn amount not
exceeding S2OO,OOU,UOU, bearing u lower
rate OF Interest and having O shorter time
10 run than those now provided for, and
thnt he he permitted 10 use from time to
time such % part of The proceeds as may
be necessary 10 supply any deficiencies
~ tie public revenue thar may occur
during the fiscal year lSDi9j.
Illr secretary then dcyOtr4 consider.
able space To- detailed criticism OF the
laws Of 1910 aud 1870, in the light Of
present needs. aud goes on 10 say! eli
he authority existing be so modified a.
10 empower the secretary 10 issue bonds
In denominations 0t $50 and mulliples,
they could Doc readily disposed OF without
The agency OF financial Institutions and
without the payment OF commissions,
Such bonds would afford to people OF
largo menns the opportunity to convert
Their surplus earnings niI % for
turity. which, while perfectly safe. would
not only Increase In value by reason Of
the accommodating interest, but be at all
lines available Jag u means of procuring
money when needed
In case congress should not consider II
advisable 10 authorize the secretary to
issue bonds Tor the purpose Of supplying
the deficiencies IN the revenues of amy
part OF the proceeds Of the bonds herein
suggested, be recommends that he be cm-
covered 60 execute rs may be necessary
the obligations of the government not
eHceeding In the aggregate fifty millions
OF dollars bcurirg "a rate Of interest
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