The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1894-01-16

|
II the same average Of monthly defieien-
cies should oontinus tho total differences
between Tsceiots snd expenditures June 30
next will be SIS l67. 542. According 10 the
best estimate thnt can be made the total
receipts during the present. month and the
month Of February will be S4l. 900, 600 and
the total expenditures will he S6O3o0OO0
showing deficiency during the two months
/ OF SlS. 400O goo; but this does not include
any aymsnts on account OF sugar bounty,
claims for which 60 the amount OF nearly
| s., O000 600 have already been presented and
are now under iuyesiis a,ion in the depart
/ ment.
| Assets of the treabury and current liablli-
ties IN excess OF certificates and treasury
notes outstanding were as follows on The
| l2th day of the present month: Gold S74-
| l08 ll9 silver dellars and bullion s.. .0.2 2s7,
fractional silver coin 912. 1873 903. United
States notes g., 03l, 272. TREASURY notes Of
| 1880 g, $4,000. national bank notes S14,-
| 126 7i5, minor coins $93S S25. deposits n
banks Sl5 47O. S63 total cash assets SI32 =
| 327 $50. Liabilities: Bank note i've per
cent fund SIil9S, ,2l9, outstanding cheo ks
and drsfts e. 1863 917 disbursing oficers'
/ balances S2S 176. 1i9 postofiice department
account 81. o9z 74l. undistributed assets of
failed national banks 81. 927, 727. District of
| Colnmbin account $l4l. go total account
/ SAG, g96. 1856. gold reserve $74.Ol7. .549. net
bal lsncs 81, 223,37 total liabilIties $132.-
/ 317 $50.
II will appear from this statement that
the coin reserve has been reduced 20 S74. -
/ los li9. and u is evident from this condi-
I tion that the ire tnsuty department will have
no means to defTay ordinary expenses Of
the government unless a laIge part of the
payments hereafter are made out OF that
| fund II this IL done the coin reserve
/ will be reduced by Feb. 60 about 500 COL
I e6i a sum wholly inadequate for the puT-
/ pose for which 10 was created. On account
! OF this cr4tal condition OF She treasury, l
have considered it my duty In addition TO
earnest rscommen iations contained in my
| annual report 20 appear ,wice before your
committet. snd after full explanation of
the situation urge prompt legislative action
/ on this subjeot
With tue permission Of the committee
havs prepared ana presented for ooRsidsra-
tion bill, which, II promptly passed,
l would IN my opinion. meet all require
ments Of the situation 10y providing the
necessary means for defraying public ex.
pensss and replenishing the coin reserve 10
I such IN extent as 90 assure the maintenance
I of the parity OF ali forms Of United states
currency While this proposed moRsurs Of
! relief has not yet been disposcd OF or con.
silsred b. the committee. great differences
Of opinion which are known 10 exist IA both
branches OF congress couce ming the pro-
priety Of Rianting additional or amended
| authority 60 iasue bonds In form or for any
] luFpot' AIhuet " NouutiNA MletNer uur
new legislation upon the subject can hs
secured IA time 60 provide means which ato
l imt eratlseiy demanded In ordef Go preserve
the credit aud honor Of the govtTnmenL
Authority 90 issue aud sell bonds for the
| purpose OF maintaining specie payments
was expressly conferred upon the ssorstary
Of the treasury By act OF Jan. ~. 1875. Tut
/ has not been exercised rince 1879. and on
account % the high rate Of interest . ovided
/ for any icngth OF time such honda would
have 90 ran, ! have not been satiahed that
sucn emsrgenoT has herstlforo existed as
woull clearly Justify their issue.
/ hnt She necessity Tor relief 40 this time Is
90 urgent. sad the prospect OF material inn
proyement M the hnancial condition OF the
aovsTumont 80 problomatical, that unless
authoritY 20 issue and sell shorter bonds.
OF otuef obligations bearing lower rate OF
interest thaa that specified In the existing
I law - granted by cong go az very early
/ date she'll feel constrained, by nv sense
/ % public duty, o. exercise the power al
| ready conferred 60 the extent 80 least Of
providing an adequate coin reserve. II
this action ahould DO taken. congress
ought nevertheless ~ provide promptly