The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1894-01-04
MONEY NEEDED.
After the Holiday Recess Congress
May Be Compelled to Consider
Some Measure for the Relief of the Treas
ury-The Receipts From the Customs
and Internal Revenue FAN Very
Far Below ForLler Figures.

WASHINGTON, Dec. 29. 9.-Indications
point to the probability that immediate
ly after the holiday recess congress
may be compelled to consider some
measures for the relief of the treasury,
even before the Hawaiian question and
Wilson tariff bill are disposed Of
In his report to congress Secretary
Carlisle's statement of the condition of
the treasury was frank enough to make
immediate action Indispensable, but
even his frankness has been out
done by the official statement of
the condition of the treasury pub
lished Thursday. The treasury bal
ance has been carried down to ssS, 914,-
096, of which $50, ,O24, T96 was in gold
and s6,SS9,300 was currency. More
over, the receipts of the treasury are
constantly running down and there is
absolutely no prospect of change for
the better. The expenditures for De-
cember have so far exceeded the re-
ceipts by s5.29o 600, making total de-
felt for the first six months of the
fiscal year about s35, 600, ,000
The customs receipts for December,
s7,s4s, GOO, are the lowest for any month
since 1865. The months receipts will
be little more than half of the customs
receipts for last December. A loss OF
s6, 900, 600 month, if continued, must
soon not only further invade, but ex-
haust the gold reserve.
The receipts from internal revenue
taxes have also steadily decreased.
| Thus, for instance, the receipts from
internal revenue for the month of De-
| cember up to the present time have
been only 80, TAI, 600, while the internal
revenue receipts for the corresponding
month for last year were sl4,s43, s36,
showing a decrease in even internal
revenue receipts of nearly 40 per cent
The situation is aggravated by the
fact that January payments are about
to fall due. These include nearly S6,-
600, 900 of interest on per cent. bonds
and Pacific railroad 6s. In addition
the quarterly payment of pensions,
amounting to between s12 ooo,OOO and
s13, 900, 600, must be met. This lends
emphasis to prophetic warning ex-
pressed by Secretary Carlisle in his re-
cent report that unless some prompt
measures were taken by congress PEN
sioners and other creditors of the gov
ernment might be subject to great in
convenience and delay.
All these elements go to show that
the situation in the treasury depart
ment is one to which congress can not
longer shut its eyes. Something must
be done, and that Immediately. 1t is,
therefore, probable that congress will
be urged to act at once upon the recon-.
/, mendation of Secretary Carlisle, look,
| ing to an issue of bonds and authoriz-
ing the secretary to issue certificates Of
Indebtedness redeemable within one
year.
There will be meeting of the cabi
net Friday, at which the propriety of q
special message to congress will be
considered, although with facts ano
figures already in the possession of the
legislative branch of the government
and after Secretary Carlisle's strong
statement of the situation further ac
ton on the part of the executive would
seem to be unnecessary.
Many democrat tic members cling tt
their objection to increasing the inter
est bearing debt of the government
during a democratic administration
They will be aided in their opposition
by the populists, who will renew thei
familiar cry that bond issue will
merely inure to the benefit of the ma
tional banks and of financial centers o
the east Mr.. Cleveland will exert al
his influence to club recalcitrant demo
Gratis into submission.