The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-11-14
1t Is PrOba BILE.
BUREAU OF THE SENTINEL,
WASHINGTON, D. c., Nov. 10.

WASHINGTON, u. - NOV. ~.
President Cleveland is ready to take
the bull by the horns again and show his
courage IN dealing with the affairs Of the
nation, as it is almost certain that an
other issue Of S5O.OOO,OOO worth of bonds
will be announced in a few days. When
1t Is the republican calamity hOwlers are
expected 10 get up on their hind legs and
make a tremendous din about the insult
nclsncy or the new tariff Jaw 70 meet the
demands OF the government, but they Will
be wrong. The new tariff law has not yet
got sufficiently into effect TO correct the
legacy Of bankruptcy left by Ben Har-
-ison and Calico Charley" Foster. This
issue Isl only one following on the one
that was contemplated by Harrison during
the last days Of his administration
and TO meet the same eXigencies. The
gold reserve is now getting very low,
while some expenditures are running some
what high.
There are indications that another issue
Of bonds will be made during the coming
week. For some time past the conyiton
has been growing upon the president that
an issue Of another $5O,0OO,0OO would soon
be necessary and on his return from Buzz
Yards bay he expressed TO the members
Of his cabinet his belief that the issue
could not be long delayed, and that the
sooner it was made the better he saw
the treasury receipts constantly growing
favorable change
Already the gold reserve has reached a
point Of $4,000, 900 below the lowest point
touched previous to the last issue, with the
probabilities Strongly in favor or stu tur-
Their and larger Withdrawals for export as
soon as the usual spring outflow sets IN
For the last several years the spring with
dr3wals for export have ranged IN amount
from $50, 600, 900 to $50 0000 600 and even
more. and it was not good business judg-
ment, in the opinion Of the president, TO
wait until the gold reserve was in fact
wiped out before measures should be
taken to replenish it.
Secretary Carlisle, it is understood, took
more hopeful view Of the situation. lie
argued that the receipts from internal
revenue and customs must OF necessity
soon show a marked increase. The sup
ply Of Whiskey which was Withdrawn
from bond just prior to the passage Of the
new tariff act. TO avoid the payment or
the additional 20 cents per gallon, would
very soon be exhausted. and that the de-
mands Of trade would result IN largely IN
creased revenues from this source, and
what was true of the internal revenue was
equally true Of the customs. Just before
the tariff act went into operation the with
drawal from bonds Of goods OF every
character was abnOrmally large. ms
supply had now been exhausted or near
| lv SO. and it was the confident eXpecta-
| ton Of the secI etary that the present
steady revival Of trade would soon re-
| move any necessity for another issue OF
bonds.
I'D to this time there had been no signs
Of any important Withdrawals OF god
for export, and ii was mis- opinion that
the emergency might be passed success
| fully without increasing the public DEBT.
/ His experience in placing the last issue
taught him that the issue Of another $780,
| 100000 might fall FAR short OF recouplng
the gold reserve by that amount 1t was
/ an easy matter to deposit legal tenders
at the sub-treasures and demand god
with which to pay for the bonds.
This evasion of the spirit Of the law
authorizing the issue of the bonds was
| several times detected during the settle
ments for the last issue and he feared II
might be practiced again. The president,
however, thought that all things conSid-
| cred, he had preferred not to wait until
| congress reassembled in December, when
measures might be taken to obstruct the
issue In his opinion the situation de-
manded the issue and there should be
no unnecessary delay in the matter.
At the request of the president Secre-
tary Carlisle joined him at Woodley this
afternoon and at a late hour had not
returned to the city. Persons in a posi-
| ton to know believe that this issue viii
be officially announced before the close
of the coming week.
The cash balance in the treasury today
was $104, $50, ass; gold reserve, S6l,915, l0l.
The receipts from all sources so far this
month amount TO S6640, lis, making the
| total receipts since July last $12S, 627, 529.
| The disbursements during the ten days
| Of the present month amount to $11,727,-
| 600. and since July / to $123, DAG. 233, leaV-
| ing a deficit Of $5,0S7,7S5 during the last
ten days and 19.440.741 since July last,
| as compared with Feb. l, 1894 when the
| last bond issue was made. There is an
| increase in the cash balance Of over $780,
| 100000. The gold reserve has, however,
| decreased about 100000.