Daily Texarkana Democrat., 1894-01-12
CASH IN THE TREASURY.
The Balance on Hand Lower than
Known Before in Many Years.

Inc balance on Hand Lower than
Known Before in Many Years.
Another slump in the cash balance
now left in the Federal Treasury, has
brought it down TO $S5.ol4,Oy6, Of
which S82,O24,70 is in gold ani sG-
$685. in currency. This is decided
ly the smallest currency balance avail
able for years, but the actual amount
in the treasury and its branches Is a
triAe more than the figures on the
books, because OF amounts sci aside
against demand liabilities Whicn nave
not been presented Tho United
States notes ia The treasury cash were
-, ,f62,335, the Sherman silver notes
$2,G8j,223. an' the silver certificates
S5,7l5,5O7, making total OF $l2,SG2,
O65. This would b5a very respecta-
bic working balance for every day
transactions if it were not for the
large amount tied up in money which
is in process Of redemption. This
amounted to about S5,25O,OOO, and re-
duced the actual currency, even when
certain demand liabilities were disre-
gardcd, to about $7,5OO,OO0,
The expenditures this month have
exceeded the receipts by the amount
of $5,29O,OO0, aud it Is a puzzling ques-
,tion how the treasury can run on
much longer without new supply of
cash from outside the usual sources
Of revenue. The customs receipts
thus far this month have been $7s4S,-
600, and will not exceed $9,000,000 for
the month. This is the lowest record
for any month since 1868, when the
population Of the country was about
half what it is to-day, aud is little
more than half Of the customs receipts
for December Of last year A falling
Off of six millions a month cannot be
endured much longer without the
complete exhaustion of the gold re-
serve, and one of the subjects which
will be seriously discussed at the cabi-
net meeting on Friday will be the
promptest way Of meeting the exist
ing emergency
Interest payments to the amount of
nearly $6,000,000, on the per cent
bonds and the Pacific railroad skies
will be due on January /, in addition
to twelve or thirteen millions for PEN
sions and the usual departmental ex-
pcnditures, The suggestion Of Secre-
tary Carlisle that treasury bills re-
deemable after one year, at the pleas
ure of the Government be issued in
discharge Of government obligations
to those willing to receive them, or
sold at par in the market, viii I'M
doubtedly be adopted and immediate
action urged upon both houses ofcon-
gress. The silver men are likely to
meet such proposition with amend
ments providing for issuing oe,tili-
Gates against the seigniorage bullion
in the treasury, but here is no ludIca-
ton at present thai President Cleve-
land will consent 10 such a plan Of
meeting the deficit.
With the gold reserve a'read" re-
duced to $4,000, 600. and carry ing ,A9
weight Of &3i6,00O.@JO m United
States notes aud $l58,OO0,OO0 in She,-
man notes, a further issue of silver
money or money redeemable IN silver
money is considered peculiarly unsafe
at the treasury department If $780,
100000 in treasury bills could be is
sued, repleniahlng the cash reserve by
that amount, the gold fund could be
increased by Outstanding the gold re-
ceived at the custom houses or by ex-
changing currency for gold with the
banks without any direct legislation
regarding the reserve, New silver
issues, 1t is feared, would cause anoth-
er gold panic in the present reduced
condition Of the treasury cash ard
would cause q run upon the gold,
which would soon exhaust the nomi-
nal supply which the goyernmentnow
has on hand.
1t is generally admitted that the
Treasury should have relief before it
can be obtained from the proceeds Of
new taxes. The experience Of the
war showed that collections from ia
ternal revenue customs did not essen
TALLY swell the receipts until some
time after the enactment Of the laws.
The only chance for an immediate
revenue without some form Of loan
appears to lie in the manipulation Of
the internal revenue tax on Whiskey.
------ar.---.