The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-01-16
Letter to VOORHEES, in Which the Condi-
tiOn of the Public Finances Is Pic
tured in Distressful Light.
AN ENORMOUS DEFICIENCY
1t May Reach S78, ,167,542 Before
the Fiscal Year Closes.
Carlisle Will Issue Bonds Under the Pres
ent Law if Congress Does Not Pass
a Bill He Has Prepared.

WASHINGTON, Jan. 15.-The following
letter from Secretary Carlisle has been re-
ceived by Senator Voorhees,, chairman Of
the finance committee of the Senate:
Dear Sir-In compliance with your verbal
request, have the honor to submit for the
consideration of the finance committee
statements showing the actual condition Of
the treas ury on the 18th Of the present
month, and estimate OF the receipts
and expenditures during the remainder Of
this month and the month Of February.
1t will be seen from the statements that
there is urgent necessity for such action
as will replenish the coin reserve and en-
able this department to continue the pay
ment of public expenses and discharge the
obligations of the government to pension
ers and other lawful creditors.
when my annual report was prepared, 1t
was estimated that the expenses during the
current fiscal year would exceed the re-
ceipts to the amount of about $2S,OOO,OOO
and L asked Congress for authority to issue
and sell bonds or other forms Of obliga-
tions, to an amount not exceeding $50,OOO,OOO,
bearing a low rate of interest, and having
O. reasonably short time TO run, TO enable
the Secretary Of the Treasury to supply
such deficiencies that might occur in the
revenues The estimate then made was
based on the assumption that the worst
effects of our financial disturbances had al
ready been realized, and there would be
a substantial increase in the revenues for
the remainder of the year. While 1t is not
believed that the deficiency then actually
existing would be supplied by increased
revenues in the future, it was hoped that
no additional deficiency would occur, but
the receipts and expenditures during the
month Of December and up to the 18th or
the present month, show that the estimated
deficiency of S2S, ,OOO 900 at the close OF the
year was much too low.
A BAD SHOWING.
''The actual receipts and expenditures dur
ing each month OF the fiscal year of 1894
and the monthly deficiencies have been as
follows:
July. 1sss-Receipts. $50 9O5. .776.1s; expendi-
lures $39 675. $3.50; excess Of expenditures,
"Autgust-Receipts, s23, $3.50; expendi-
lures, So, ,305, ,22S.4S; excess of expenditures
:;September- s24,5s2 10; expen-
ditures, $25, i7S, ,0l0H; excess OF expenditures,
Actual for Three Months-Receipts. $780,
S7O.621.9O; expenditures, $9S, 49O, ,69i59; excess
of expenditures. $17,56O, 072:e9;
"October-Receipts, $24.553, 394.97; expendi-
lures, $50, 1924; excess of expenditures
$5,0S5, ,497.37.
Observation-Disclosures. S23.979, 400.S1; expen-
ditures, $31, 1902 026.4 Al; excess OF expenditures
s., 7,322, $3.50
Observation-Disclosures, Sc, ,312,027; expendi-
lures, 3O.O5s, ,26O51; excess of expenditures,
s7.746. .23S5l.
$40 S69 1881 expenditures, SIG. 25S, 65514; ex-
cess of expenditures, $J.S93. 1l5.T.
'Totals-Receipts, $l62, 0S5,3ShO0; expendi-
lures. S205, ,643, 1859; excess OF expenditures,
SIS, ,558, ,044.9+
eff the same average monthly deficiencies
should continue. the total differences be-
tween receipts and expenditures on the 30th
of June next. will be s7s167,5i2. According
to the best estimates that can be made,
the total receipts during the present month,
and the month of February will be SAL ,9O0-
Co., and the total expenditures will be $780,
100000. showing a deficiency during the two
months of s1s.4Oo00O; but this does not in
clude payments on account of the sugar
bounty, claims for which to the amount of
nearly 50, 600 have already been presented
and are now under investigation in the de-
partment.
1.-THE assets of the treasury and the cur
rent liabilities in excess of certificates and
treasury notes outstanding were as follows
on the 18th of the present month: