Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1894-08-24
ANOTHER BOND ISSUE.
Some Differences of Opinion as to the
Probabilities.


WAsnINeroN, August 6-There are
differences of opinion among the treas
ury officials as to the probabilities OF
another bond issue. Neither Mr.. Car
isle nor Assistant Secretary Curtis Is
willing to admit that there is any real
cause for alarm at the present financial
situation. 1t is known, however, that
the President and his advisers are
watching with eager interest every
change in the financial situation, and
that every phase OF it is being carefully
and thoughtlully studied. Notwlth-
standing this soicitude it is believed IN
the Judgment of the President that the
situation does not furnish any Just APP
prehension, and that better times may be
confidently expected soon. From this
point of view it is argued that the pass
age of the pending tariff bill is sure to
result in prompt and general revival
of business, and that III consequence
there will be large increase in the gov
eminent revenue. Receipts from Gus
toms, which for many months have been
gradually growing less, it is believed,
will show a marked improvement from
the very first, and will continue to IN
crease until normal conditions have
been reached. 1t is contended that, not
withstanding the gold reserve has
reached the lowwater mark OF about
$50, 900, 600, the government is really lar
better able to meet its obligations to-
day than it was just prior to the Febru-
airy bond issue.
There are some, however, who take a
e H,t, Ia
serve that the gold reserve, which six
months ago was brought up to its normal
condition by an increase OF $4,000, 600
in the public debt, is again melting and
is already reduced to a point $l3, 600 600
below the lowest point reached prior to
the February bond issue. They contem-
plate with uneasiness the fact that for Il
wear or more the ordinary expenses OF
the government have largely exceeded
the receipts This was true even during
last month, when in expectation OF a
material increase on the tax on whisky
the receipts of internal revenue were alb
normally large. 1t is argued that, should
the pending tariff bill become law and
90 into operation as early as the middle
of the present month, no material IN
crease in the revenue could reasonably
be expected earlier than next December,
for the reason that the tariff bill will
have passed too late in the season to real
ize any considerable amount from the
fall imporlations.
The treasury figures show there is now
in this country at least six months
supply of sugar; so little may be eX-
pected from that source. This IS true
also of whisky. The statistics OF the in
ternal revenue bureau show the tax has
already been paid on over l3, 600, 600 GAL
Ions OF whisky in excess of the amount
upon which the tax has been paid year
ago. Therefore but little relief may be
expected from this source before Decem-
Der. The only recourse therefore, 1t is
contended will be a bond issue, and
there are many well-informed persons
who believe that, if this Congress does
not pass a prohihitive resolution before
adjournment, $50, 900 900 or more Will
so be issued. That there would be no
difficulty in placing any reasonable
amount, even at the premium eXacted
in February, it was apparent from the
fact that the February bonds are being
sold at premium OF 1.27 per cent