Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1893-09-09
A BIG DEFICIT
Stares Congress in the
Face.
FIFTY MILLION IN DEBT.
An Analysis of the Financial
Situation.

1
Situation.
Baltimore Herald (Dem.) September
There Is every indication that deficit
In the United States Treasury of $50 ,0O0,-
coo will exist at the end of the fiscal year,
June 80, 1894, unless measures are taken
to avert 1t.
At the present rate of receipts las will
te shown by the official figures to be is
sued tomorrow the aggregate receipts
for the current fiscal year will be $780,
000, 900. The rate of expenditures for the
past two months, If continued through
the rest of the year, will amount to $426,-
000, 900. If this ratio were kept up the
deficit at the balance OF the year would,
therefore, be nearly 800, 900, 900, but this
ratio is not expected to continue. The
receipts, it is believed, will be greater
and the expenditures lighter. The actual
receipts for July and August of the cur
rent fiscal year aggregate $55 zoo, 600.
The receipts for the same months for the
fiscal year 1882 aggregated $6s, 600, 600, or
loss during the first two months of the
present fiscal year as compared with the
same months of the previous fiscal year
of &13 ,O00, 600 In other words, receipts
are coming in at the rate of $3.50, 900, 600
year, when during the corresponding
months of last year the receipts were at
the rate Of $4Os, 100000.
The actual receipts of the government
for the fiscal year ended June 80 1898,
swere $3fS, BIS, 1928, or at the rate of about
"a. 100000 month, while the present
rate Of receipts is about $a7 SOC, 900 a
month.
| RXPEKDITUREs.
The expenditures for the first two
months of the current fiscal year amount
| to vi ,000, 900, or at the rate of $426 600, :
600 year, while the expenditures of the
corresponding months of the last fiscal
year amounted to $6s,0O0, 900, or at the
rate of t4os, 900, 900 year 1t will be
noticed that the rate of receipts and ex-
penditures on the lst of September, 1892,
ran evenly, while at the same period this
year the receipts and expenditures are
nearly $100, 00o,O 900 apart.
This large disparity between the re-
ceipts and expenditures of the govern.
ment is not likely to continue. 1t is diff
ficult in view of fixed permanent appro-
priations to reduce to any great extent the
expenditures of the government, but it is
believed that they will not greatly exceed
at the end Of the present fiscal year $400,
OO0,0 600. The expenditures for the pro.
vious fiscal were $3s3, OO0, 900.
In the matter of internal revenue alone
It is ascertained that at this time there
are l46 zoe 600 gallons of spirits in dis
tillery warehouses, as against 126, 900, 900
gallons for the same period of last year.
This means that $4,000, 900 In internal
revenue taxes, which last year were in
the government Golfers, are now locked
up In bonded warehouses, the owners
not having the money with which to pay
the taxes. This large sum of money
will, of course, be unlocked in time and
gradually find its way into the Treasury.
IMPoBTArIoNs FALL OFF.
Not 80, however, with customs revenue
All sdvices point to the fact that i'm
portations are falling off and receipts, OF
course, from that source fall with them
1t Is estimated, however, that at the pres
ent time there il locked up in bonded
warehouses In New York $4,000, 00o
worth more goods than were in New
York warehouses at the same period last
Iyear. The amount Of revenue which
these goods will pay is not as easily esti.
mated . that on goods In distillery ware
houses. 1t Is considerable. however, and
as soon Is money becomes more plenti.
full viii find its way into the Treasury
While the government receipts have
been falling of and the expenditures
continuing, the difference had to be me,
from the cash In the Treasury. On July
I the svailable Treasury balance, includ-
ing the gold reserve, was 1924, 900. 900; on
September ]. the same balance will be
ei8T, 900. 600. showing decrease of $f7,.
200 90. This balance Is composed Of
t97, 900. 600 in gold and $4,000, 900 in
fractional currency. etc. The inroad
made on the Treasury cash by the falling
of Of receipts has occasioned much con.
fcesn In treasury circles and Secretary
Carlisle and those associated with hin
in the coaduct Of the Treasury Depart
msnf have during the past month hat
J frequent conferences Is to the best mean.
to be taken to prevent the balance from
running 90 low q to cause uneasiness o.
distrust
II II 10 admitted on all hands that II tn,
, gold reserve, together with the availabl,
cash, should be reduced as low as $75.
0OO. 900 or $50 .0o0. 900. point would b,
reached where 1t would be wise to bulk
up the Treasury balance. No actor
looking TO this has been taken up 10 thi
time by Secretary Carlisle. for two rea
sons. The first h that he does not desir
A. a.