Iron County register., 1893-01-26
THE TREASURY CONDITION.
The Democratic Administration VIII Find
an Empty Pure.

The Democratic Administration VIII Find
an Empty Pure.
The condition of the treasury which
will confront President Cleveland when
he enters office in March will be radical
ly different from that which confronted
him when he entered office eight years
ago, or when he left it four years ago.
The treasury cash has reached about
the lowest point at which business can
be done with comfort and security.
Whether it will drop any lower is a
mooted question which depends upon
several doubtful elements 1t will re-
quire very little falling Off in Gus
toms revenue or a very small increase
in pension payments to cause such a
decline.
One of the vital questions is whether
the receipts from customs will fall off
as n result of impending changes in the
tariff. There is every reason to be-
lieve that they will fall off as soon as
the tariff changes are close at hand.
The light business at the custom house
during election week led some to be-
lieve that the falling of would begin
at once. This has not proved to be the
case, and customs receipts for the first
six months of the fiscal year have
been $4,000. 600 more than for the same
months in 1891. The month of Decem-
Der alone shows a growth of nearlv
50, 500. 600. and this may continue for
five or six months longer. The mo-
ment it becomes apparent, however,
that importers are stocking up with
goods at higher duties than they need
to pay. importations will be suspended
This will be true of raw wool, wool
en- goods, tin plate and other articles
on which duties are most certain to be
reduced.
Unexpectedly large receipts from GUS
tom and smaller pension drafts than
will be made during the next six
months have kept the treasury barely
even in its receipts and expenditures
since July /, and there is no accumu-
la ted surplus with which to meet ex-
penditures during the coming year.
The pension drafts are the cause of tho
great drain upon the treasury.
They passed the point in December
where they wiped out the internal rev.
enue receipts, and are not far from abb
sorbing the customs receipts If they
were set against those receipts alone.
The first six months of.the present fiscal
year have required an expenditure of
sSo, 423, 90S for pensions: but it cannot
be inferred that the next six months
will result in drafts for the same
amount, making the total for the year
S!61 600. 600. Unfortunately the fig
ures increase from month to month.
and during December were at the rate
of s179 Ooo, 900 per year, One deficien-
cy appropriation for the present year
has alrea ady been requested by the Sec
retary of the treasury and another is
likely to be needed. On top of this ex-
penditure for January will come the
interest checks for the four per cent.
bonds and the Pacific railroad six
per cents. These interest payments
will require about $4,000, 900. and will
make n heavy load for the treasu ry to
carry in view of the other demands up-
on it. The situation is especially un-
pleasant to those members of the dem
ocratic party who are opposed to an
extra session of congress, and are
anxious that the treasury should get
along under present arrangements un-
til the regular session next winter
n. Y. COmme rcial Bulletin