The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-29
ABOUT s35,OOO,OOO SHORT
RECEIPTS WILL BE ABOUT s345.OOO,.
900, EXPENDITURES $3.50, 1000, 900.
Gresham Waiting to Hear from Bay
I'm the Bluefelds Incident.
to the Indianapolis journal.

ing himself to the careful study of the es-
Inmates Of receipts and expenditures for
the coming year. The Secretary of the
Treasury does not hold the view of many
that the third Issue OF bonds will be inevi-
table in the next six months. He bases his
sanguine view on the estimates furnished
him by the various experts in the divisions
of customs and OF internal revenue. When
the books of the treasury were closed on
June 30, 1894, at the close of the last fiscal
year, there was surplus in the treasury
of $117 1884, 4S6. In this sum was included the
s5SO00,OO0 of money obtained by the first is
sue Of bonds. Moreover the treasury had
paid out only such moneys as could abso-
lutely not be put off. Every payment that
would admit of delay under one pretext or
another had been withheld. For instance,
the contractors who had built the various
war ships that had been appropriated for
by previous congresses were stood off from
month to month, and most Of them still
waiting for not only their well-earned
premiums for greater speed than was con-
tracted for, but for actual payment on the
ships themselves. 1t is not patriotic
thought that many Of Uncle Sans proud
war ships are sailing the ocean unpaid for.
However, Mr.. Carlisle simply could not pay
Navy Herbert is having daily battles with
the shipbuilders. Work on public buildings
was also brought to an almost entire stop
and everywhere treasury warrants were
held up and payment delayed. By these
pitiful methods Mr.. Carlisle was enabled to
enter the new fiscal year with surplus"
To this sum must now be added the $59,-
100000 resulting from the second issue of
bonds. so that Mr.. Carlisle has about sl7s-
100000 10 depend on, exclusive OF the re-
ceipts from all sources for next year. About
s16,0O0.0OO have already been paid out that
sum being the excess Of expenditures over
receipts since the beginning of the present
fiscal year, so that Mr.. Carlisle has really
only some $3.50. 100000 at HIS disposal.
The estimates Of the various bureaus are
very sanguine. The estimated receipts un-
der the sugar schedule OF the German bill
are placed at about 50. 100000 month This
statement, by the way, may be regarded
as finally and efrectually disposing Of all
speculation as to the pas sage OF the House
bill putting sugar on the Tree list The Gus
toms receipts hitherto, under the German
BILL have been averaging about $4,000, 900
for the months of October and November,
but an increase is expected after the first
Of next January, when the wooden goods
schedule takes effect Mr. Carlisle's advis-
ers tell him, however, that he can afford to
figure on only ten millions a month and
pull through, for at that rate he wfll have
sS0000,000 as receipts from Nov to July l.
To this they add $3O0oo.0o0. expected reve-
nue. from sugar and $4,000, 900 already col
lected from all sources up to Oct. 81, max
ing total of almost s16O. OO0,0Oo or about
the sum left over at the end of the last
sale. This is very ingenious, but it hardly
furnishes absolute assurance that Mr. Car
isles gold reserve will not need another
the yellow metal.
officers of the internal revenue service
estimate that receipts from that source
will be about s165. 100000. Estimating then,
as above, that the receipts from customs
will be about sl6o,O 100000. with $l65, ,OOo, 600
from the internal revenue and s20,OOO.O0O
from various miscellaneous sources of reve-
nue. which the government possesses out
side of its customs and its duties, the total
available resources Of the government for
the fiscal year will amount to about $780,
100000. The possible revenues from the in
come tax have not been included in these
estimates, for two very excellent reasons.
In the first place, there is grave doubt If
Congress will pass any appropriation at
this session to make the income tax law ef-
fective and. in the second place, even If the
law is made operative, the tax will not be
paid until nearly the close of the year. So
much for the receipts.
The expenditures of the government for
the first four months of the present fiscal
year. exclusive of interest charges, We're
about sl1S,0O0.000 which would make the to-
tai expenditures for the year about 1854, 600, :
900. There are to be added to this about
$26. 900 for interest payments. so that the
total expenditures which the treasury now
has to face will be about $3.50, 100000. This
is an excess of expenditures over receipts
for the year of about s35,000.0O0. To meet
this Mr. Carlisle will have to resort to the
money in hand at the beginning of the
present year, plus the $59,000,00O realized
from his second bond issue which, for con-
venience have, in this consideration, been
included among his assets outside the reve-
nues. received from customs, duties and
miscellaneous sources. 1t must be remem-
bered that these are entirely the figures
and statistics of the Treasury Department,
collated to adorn the forthcoming annual
report of Secretary Carlisle. While 1t is
true that it can be shown how an absolute
shortage In the treasury will be avoided
by the simple expedient Of dipping into the
Si76,000, 900 which Mr.. Carlisle controls over
and above the receipts for the year. from
the governments legitimate sources OF rev.
enue, yet 1t is evident from these very fig-
ures that the receipts will not equal the
expenditure by many millions and deficit
is eventually inevitable. Included In this
very S176,000.0o0 on which the treasury de-
| pends to fill out the void, are the s117, 900,-
| coo realized from the two bond sales So
| that studying the treasury's figures as one
| will, IL seems difficult to understand how
| Mr.. Carlisle proposes TO run the govern
| ment without another resort to a bond is
sue.
The cash balance in the treasury to-day
was $lOs, ,e5s AL; gold reserve. s6s.l52.sl1, an
| increase since yesterday of $lo,36S, ,i72.
New Bonds Selling at I'D 1-2.
NEW YORK, Nov. 2S-The Stock Ex-
change has listed the s5oO00.Ooo new gov
ernment fves. The sales by the syndicate
now reach ss.00O.ooO, of which 100000 were
sold at 1ls and about 100000 at 1lsh
The subtreasury had received up TO moor
to-day a little over s4O.o 900 gold in pay.
| ment for bonds subscriptions New York
city banks lose by subTeasury operations