Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1893-09-23
THE TREASURY.


Receipts Increasing and q Better Condl-
tion Reported senator Faulkner Ex-
plains His Amendment to the Repeat
Bin.
WAsHISGToS. sept. l6-Government l6
receipts from all sources continue
to be more encouraging than had been
hoped for and treasury officials are be-
ginning to believe that the balance of
expenditures over receipts will not be
so large as during the two preceding
months of the present fiscal year. The
excess of expenditures over receipts
during July and August averaged
pretty nearly $1,000 900 each month,
but thus far this month. and it is half
gone, the excess has been less than
$500, 900 with indications of keeping
down pretty well during the remainder
OF the month. The receipts of the
government thus far for September
have been sll,771, 900 and the expend-
itures Sl2, ,033, 900. The receipts for the
first two months of the fiscal year were
s23,S91, $50 and the expenditures sS3,-
aoo, 2bS.S
sES. .t,H fs-Ag sp4s { assrrspss-sEk#F u
Senator Faulkner makes the follow
ing explanation in support of his
amendment to the repeal bill: tive
amendment submitted by me is not a
new idea in finance, but is based upon
the successful working of the French
system. France to-day, with popula-
tion of only one-balf that of the United
States, and much inferior in her inter
national commerce and business enter
prise, has maintained without difficulty,
and at ratio of l5l9 to /, $3.50, 900, 900
of silver on a fail parity with gold
The limit of my amendment, including
subsidiary silver and standard dollars
is ssOo0O0,O00 1t provides, first,
for the coinage OF bullion now in the
treasury, which, at its coinage value,
would amount to STA i,0)0.0 900 ut the
rate Of So, 900, 900 per month and author
ICES the purchase, at the market price,
of bullion (say - cents per ounce1 OF
|, $50, 900 ounces per month. This bull
lion is not to be coined until after the
bullion now in the treasury is coined,
unless, in the opinion of the secretary
of the treasury, the demands of the
country require it. But after all the
bullion now In the treasury is coined.
the amendment provides for the coin
age of $4,000, 900 monthly of the silver
purchased under the amendment
until the aggregate silver coinage,
including subsidiary coin and standard
dollars, shall aggregate $500, 600 900.
The amount of silver bullion that
would be ultimately purchased may
be briefly shown as follows:
We have now il9, 332, 900 standard dol
lars and 81, 900, 900 of su bsidiary coin,
aggregating 1896, 332. 600 to which must
be added the coinage value Of the sill
yer bullion now in the treasury,
amounting to sl7+ 600, 900, aggregating
500, 332, 900 leaving $3.50, 900, 900 less sill.
yer coinage than the requirements OF
the amendment. or the purchase of
about 100, 00J,000 ounces of silver
which purchase would exteisl over a
period of more than five years. The
retirement of the silver certificates and
treasury notes issued in payment for
the bullion purchased under the act of
July IA, 1890, and national bank notes
under 80, would not only bring the
entire silver coinage into active circu-
lation, but would also bring into act
i've circulation our 81 30 and s. gold
nicceS