St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-06
S5O,OOO,OOO BONDS.
Prospective Great JOY for the
Clipper Of the Little
Coupon.
UNCLE SAM is IN A HOLE,
And He Will Soon Have to
Issue Another $50,000,-
900 Bonds.
SITUATION NOT ALARMING,
6ut Uncle Samuel Must Have
Shekels for Temporary
Troubles Financial.

WASHINGTON, Aug. 5.-There are
differences of opinion among treasury
officials as to the probabilities of an
other bond issue. Neither Mr.. Carlisle
nor Assistant Secretary Curtis is will
ing to admit that there is any real cause
for alarm in the present financial situa-
ton. 1t is known, however, that the
president and his advisers are watching
with eager interest ever change in the
financial situation, and that every phase
of it is being carefully and thoughtfully
studied. Notwithstanding this sollci-
tude, it is believed that it is the judg-
ment Of the president that the situation
does not furnish any just apprehension,
and that better times confidently may be
expected soon. From this point of
view, it is argued that the passage of
the pending tariff bill is sure to result
In a prompt and general revival of busi-
ness. and that in consequence there will
be a large increase In the government
revenues. Receipts from customs, which
for many months past have been gradu-
ally growing less, it is believed will
show marked improvement from the
very first. and will
Continue to Increase
until normal conditions have been
reached. 1t is cOntended that, notwith
standing the fact that the gold reserve
has reached the lOw-water mark of
about $50, 100000. the government is
really far better able to meet its obliga-
tions today than it was just prior to the
February bond issue. There are some,
however, who take less hopeful view
of affairs. They observe that the gold
reserve, which six months ago was
brought up to its normal condition by
an increase of $50, 100000 in the public
debt, is!again melting away, and already
reduced to point S13, ,0OO. 900 below the
lowest point reached prior to the Feb
ruary bond issue. They contemplate
with uneasiness the fact that for year
and 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 in the tax on whisky,
the receipts from internal revenue were
abnormally large. 1t is argued that.
should the pending tariff bill become a
law and go into operation even as early
as the middle of the present month,
No Material Increase
In the revenue could reasonably be eX-
pected earlier than next December for
the reason that the tariff bill will have
passed too late in the season to realize
auY considerable amount from the fall
importations. The treasury figures show
that there Is now in this country at least
six months supply of sugar. so that
little may be expected from that source.
This is also true of whisky. The statis-
tics of the internal revenue bureau
show that the tax already has been paid
upon over 100000 gallons of whisky
in excess of the amount upon which the
tax bad been paid one year ago. There
fore, but little relief may be expected
from this source before December. The
only recourse, therefore, it is contend
ed, will be to bond issue, and there
are many we'll informed persons who
believe that, if this congress does not
pass prOhlbltive resolution before ad-
journment, $50, 600, 900 or more Will soon
be issued. That there may be no diff
Guilty in placing any reasonable amount,
sven AT the premium eXacted in Feb
ruary, seems apparent from the fact
that the February bonds are being sold
at premium of 1.27 per cent.