The herald., 1894-08-06
ANOTHER BOND ISSUE.
THE PRESIDENT SAID TO BE CON-
TEMPLATING 1T.
Dinerences Of Opinion Among Treasury
Omcials as to tho Pro robabilttiess
The Dwindling Gold
Reservs.

WARRINGTON. Aug. 5.-There are diff
ferences OF opinion among treasury off,
cials as to the probabilities OF another
bond issue. Neither Mr.. Carlisle nor
Assistant Secretary Curtis is willing to
admit that there is any real cause for
alarm in the present financial situation.
1t is known, however, that the president
and his advisers are watching with eager
interest every change in the financial
situation, and that every phase is being
carefully and thoughtfully studied. Not
withstanding this solieitude, it is be.
lieved tits the judgment of the president
that the situation does not furnish any
just apprehension, and that better times
may be confidently expected soon. From
this point Of view it is argued the pas
sage of the pending tariff bill is sure to
result in prompt and general revival
OF business, and that, in consequence,
there will be large increase in the gov.
ernment revenue. Receipts from GUS
toms, which from many months past
have been gradually growing less, it is
believed will show marked improve
ment from the very first, and will con-
tinue to increase until normal condi-
tions have been reached.
1t is contended that Notwithstanding
the fact that the gold reserve had
reached the low water mark of about
$4,000, 900, the government is really far
better able to meet its obligations today
than it was just prior to the February
issue. There are some. however, who
take less hopeful view OF the affairs.
They observe that the gold reserve hich
six months ago was brought up to its
normal condition by an increase of $780,.
100000 in the public debt, is again melt
ing and already reduced to point $13.-
000,000 below the lowest reached prior
to the February bond issue.
They contemL late with uneasiness the
fact that for year or more the ordinary
expenses OF the government have largely
exceeded the receipts. This WAS true
even during last month, when in ex-
pectation of a material increase on the
tax on whiaky, the receipts of internal
revenue were sbnormslly large. 1t is
argued that should the pending tariff
bill become law and 60 into operation,
even US early as the middle of the pres
ent month, no material increase in the
revenue could reasonably be expected
ehrlior tuhu ueAt OScomUoT, 1Or tn6
reason that the tariff bill will have
passed too late in the season to realize
any considerable amount from the fall
importations.
The treasury figures show there is
now in this country at least six
months supply of sugar, 30 little may
be expected from that source. This is
true also Of whisky. The statistics of
the internal revenue bureau show that
the tax has already been paid on over
100000 gallons OF whisky in excess of
the amount upon which the tax had
been paid one year ago. Therefore but
little relief may be expected from this
source before December.
The only recourse, therefore, it ia con.
tended, will be to q bond issue, and
there are may we'll informed persons
who believe if this congress does not
pass prohibitive resolution before ad-
journment. s5O.O0O.00O or more will
soon be issued. That there would be
no difficulty in placing any reasonable
amount, even at the premium exacted
in February. is apparent from the fact
that the February bonds are being sold
at q premium of liz per cent.