The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1894-06-28
TO ISSUE MORE BONDS.



The Government VIII Need Ready Cash
Before Long.
WASHINGTON, June est is now sug-
gested that the subject of short term
loan in anticipation Of The revenues OF
the government may be revived In con-
nection with the final enactment of the
new tariff bill. The bill, as it stands,
is estimated to provide au annual sur.
plus of more than $50 900 600 after it
is in full operation, but there will be an
interval of six or eight months before
this revenue will be fully available.
The income tax is to be collected on
incomes earned during the year ending
Jan. l, 1895, and the preparations for
its collection can hardly begin until
next year. The sugar duty, if the SEN
ate schedule prevails, will not lake ef-
feet until Jan. /. The market will be
thoroughly stocked in the meantime
and importations will be small for sew
dutiable. The increase in the whisky
tax even will not begin TO yield an In
creased revenue for some months, for
1t does not take effect until two months
after the enactment of the new bill and
heavy Withdrawals from bond atthe old
rate during this period will reduce pay
ments during the several months which
follow TO the minimum. Imports of ar
ticles on which the duties have been
reduced are expected to show some In
crease, but calculations OF the revenue
from the new bill have been constantly
made on the imports of 1893 which
showed the heaviest import trade of
our commercial history.
The estimated revenue from customs
under the senate bill is $3.50, 1877. l13 for
az entire year, and half of this would
yield In six months sos, cs3, $50. An in
crowded into the first six months, would
1 add $l3,000,000 to this and raise the
total customs receipts from July to jan
uary to $7s .000,0 Internal revenue
at the average rate under existing law
would add S72, 900 900, and miscellane-
GUS receipts about IS, 900 900, making a
total revenue for six months of $780,.
900 900. The expenditures during the
six months ending Dec. 81 last were
over $3.50 900 900. There will be some
saving on pensions, but the net expen
| 4 81 al VII
which pays for itself, will probably
, reach $IS3, 900 900. This will leave q
deficit of $24 900, COO. The general treas
ury balance now stands at about $115,
: 000, 900 and is likely to crop below S110,
900, 900 after the payment of the July
interest. The treasury might worry
) along with a further loss of $24, 600, 00t
, If the receipts from the sugar duty an(
: the Income tax were 10 become availa
bic promptly on Jan. 1, but this will no
be the case, and some provision for
: temporary revenue will have to be made
: The treasury officials are disposed t
4 favor an issue of treasury bills or cer
5 tlfcates bearing interest at 1 or 2 pc
S cent per annum and redcemable at tn
pleasure of the government six month
4 from the date of issue. 1t is believe
r that these would be readily taken
+ payment of many obligations and woul
5 be eagerly sought by the holders of i'd
f. money, like the national banks, as
d temporary investment. Secretary Ca
o Isle has always been IN favor of autho
o ity to receive obligations of this so
and the plan was favorably considere
by Chairman Wilson, Bourke Cockra
and other members Of the ways ar
means committee when the deficit W;
" growing last November. The pressui
of time upon the committee, howeve
. and the desire TO devote their energi
to the tariff bill prevented any form
action on the ,ubjsc until Secreta
= Carlisle was obliged to act under exi:
> ing laws and invite offers for per ce
bonds.